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Tag Archives: FBR

FBR strictly orders field formations to achieve revenue targets

ISLAMABAD: Federal Board of Revenue has strictly ordered the field formations to achieve the revenue targets, although the board understands that the target of financial year cannot be achieved due to country situation, decrease in petroleum prices and other reasons so it should be reviewed but the Finance Minister is of the view that they should try to achieve the ... Read More »

KSE 100-index adds another 251pts, up 0.77% to end week on bouyant note

KARACHI: The Karachi Stock Exchange benchmark 100-index gained 251.26 points or 0.77 percent to reach 32731.61 points and volume of 235,201,230 shares on Friday. Fueled by bull-run, Karachi Stock Exchange continued to cheer up as benchmark 100-index gained another 179.54 points or 0.55 percent to reach all-time-high of 32659.89 points, rekindling hope for 33,000 thresholds in midday trading. There prevails ... Read More »

Rs65-70b/annum loss after POL prices cut: Govt may impose more taxes, reduce development budget

ISLAMABAD: The federal government may impose new taxes or reduce development budget at it has to face Rs65-70 billion per annum loss in revenue after declining trend in prices of petroleum products. Official sources said that defence expenditures and debt servicing could not be halted, so the deficit or loss could be overcome by slashing development budget or imposing new ... Read More »

Rs65-70b/annum loss after POL prices cut: Govt may impose more taxes, reduce development budget

ISLAMABAD: The federal government may impose new taxes or reduce development budget at it has to face Rs65-70 billion per annum loss in revenue after declining trend in prices of petroleum products. Official sources said that defence expenditures and debt servicing could not be halted, so the deficit or loss could be overcome by slashing development budget or imposing new ... Read More »

Appraisement-East gears up effort to earn Rs 500m from auction

KARACHI: The Model Customs Collectorate of Appraisement-East gears up to earn stuck-up revenue of Rs 500 million from auction scheduled for December 29 at Ghasbandar, East Wharf Karachi. Talking to Customs Today, sources in the collectorate said that December 25 deadline, given to hundreds of importers to clear their goods by the customs authorities, is over and the massive auction ... Read More »

Dar for addressing sugar millers’ issues, asks body to finalise recommendations in 3 days

ISLAMABAD: Federal Finance Minister Ishaq Dar, speeding up his struggle to address sugar millers’ problems, has directed a newly-formed committee to finalise its recommendations within three days. The Finance Ministry, in a statement issued to media, said that Senator Ishaq Dar had given instructions to the committee on issues facing sugar producers to have detailed deliberations on the problems faced ... Read More »

Tuesday December 09 -Monday December 15, 2014

Customs Today E-Paper

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Closing: KSE plunges 138pts, down 0.43% on PTI’s Faisalabad shutdown call

KARACHI: The Karachi Stock Exchange benchmark KSE 100-index lost 138.45  points or 0.43 percent to reach 32010.33 points and volume of 120,382,620 shares on Monday. The market started the new trading week on a positive noted and appeared confident, adding another 24 points to the weekend closing of 32151 points to reach 32175points. However, later stocks crashed due to panic ... Read More »

Closing: KSE-100 adds strong gains of 218.20pts, up 0.68% to towards 32,000pts

KARACHI: The Karachi Stock Exchange benchmark KSE 100-index gained 218.20 points or 0.68 percent to reach 32090.93 points and volume of 270,543,210 shares on Thursday. The market opened on a positive note and kept crawled up to close the gap to its all-time high 32,000-level and never looked behind, setting eyes on new highs. Bull-run kept the Karachi Stock Exchange ... Read More »

FBR seeks action against Sindh Police, HDA for non-payment of taxes

KARACHI: The Federal Board of Revenue(FBR) has once again sent a reminding letter to the finance minister, requesting action against Sindh Police and Hyderabad Development Authority for not submitting their due taxes worth millions of rupees. The FBR wants to take action against Sindh Police and Hyderabad Development Authority in September but Federal Government adjuster stopped them in doing so ... Read More »

Closing: KSE keeps upward rally with 192pts, up 0.61% to close 31872.73pts

KARACHI: The Karachi Stock Exchange benchmark KSE 100-index gained 192.01 points or 0.61 percent to reach 31872.73 points and volume of 257,480,050 shares on Wednesday. Buoyant Karachi Stock Exchange continued its march toward historic high of 32,000 steadily as benchmark KSE 100-index added another 213.01 points or 0.67 to scores tally, taking it to 31893.17 points till midday trading. Easing ... Read More »

Special Economic Zones to come under customs after FBR’s approval

ISLAMABAD: Following directions of the Board of Investment, the FBR is all set to bring a main amendment in the Special Economic Zone Act which will put the Zone within the customs territory of Pakistan. After the amendment in the Special Economic Zone Act, Customs rules and Regulations would be binding on the units operating in the SEZ.  A high- ... Read More »

Closing: KSE gains 102pts, up 0.33% despite warnings of Imran

KARACHI: KARACHI: The Karachi Stock Exchange benchmark KSE 100-index gained 101.74 points or 0.33 percent to reach 31299.72 points and volume of 238,689,700 shares on first day of trading, Monday. There were rumours of downward trend as Pakistan Tehreek-e-Insaf Chairman Imran Khan has warned government if they do not agree his demands, he will going to shut down all business ... Read More »

Worst traffic jam as Nawaz inaugurates 4-days IDEAS 2014

KARACHI: Prime Minister Nawaz Sharif on Monday inaugurated four-day International Defence Exhibition and Seminar (IDEAS) 2014. Though authorities have already announced a traffic plan for the general public in lieu of the expo to avoid any mishaps, it seems like things are not going according to plan and people are facing serious traffic jams on roads. As per the reports, ... Read More »

Banking group Al Baraka records $207m profit in 9 months of 2014, assets touch $22.5b

KARACHI: Al Baraka Banking Group (ABG) has recorded a profit of $207 million in the first nine months of 2014. The bank’s total assets have touched $22.5 billion and its equity has crossed $2 billion. In a press release, the bank said the results affirm the group has managed to achieve growth in profitability and businesses despite financial and economic ... Read More »

80mmcf gas sought for 200MW power generation, KP industries

PESHAWAR: Khyber Pakhtunkhwa (KP) has demanded gas for power generation and Chief Minister Pervez Khattak has written several letters to Federal Minister for Petroleum and Natural Resources and Prime Minister in this regard. KP Board of Investment and Trade (KP BoIT) Vice Chairman Mohsin Aziz, while talking to the journalists, called for provision of 40mmcf gas to the province for ... Read More »

FBR collects Rs900b against Rs973b target in 5 months of 2014-15 , faces Rs73b shortfall

ISLAMABAD: The Federal Board of Revenue faced a shortfall of Rs73 billion in revenue collection during the first five months (July-Nov) of this fiscal year 2014-15. The collection stood at Rs900bn against the target of Rs973bn. However, it recorded a marginal growth of 14 per cent over the last year’s collection of Rs789bn. The growth in revenue collection was the ... Read More »

30% cut in int’l oil rates: Nawaz orders to slash petrol price by Rs 9.66/ litre

  ISLAMABAD: After 30 percent cut in international oil rates, Prime Minister Nawaz Sharif has ordered to cut petrol price by Rs 9.66 per litre besides cutting prices of other petroleum products’ prices.  Standing Committee on Finance in its recent meeting has asked the CCP to play its active role in slashing of POL prices by at least Rs 20/lite. According ... Read More »

President HP hints to invest in computer industry of Pakistan in 2015

KARACHI: A leading global player in IT and Computer industry HP INC-USA has decided to bring more investment in Pakistani computer industry after the current political uncertainty in the country . Yousaf Jamal, Senior Vice President Pakistan Computer Association (PCA) said this on his return from Thailand after attending annual HP PPS IPG Channel Odessey-2015. Jamal, who was only participant ... Read More »

Closing: KSE plunges 52pts, down 0.17% on upcoming PTI showdown

KARACHI: The fast-changing political scenario and fears of a looming political showdown on Nov 30 caused ripples in the Karachi Stock Exchange as benchmark KSE 100-index lost 51.72 points or 0.17 percent and plunged to 31218.38 points and volume of 166,378,330 shares on last day of trading, Friday. The stocks failed to cash in on the euphoria created by Pakistan’s ... Read More »