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Tag Archives: Karachi Region

FBR urged to address SRO issue

KARACHI: The Pakistan Automotive Manufacturers Association (PAMA) has urged Federal Board of Revenue (FBR) to resolve the issue of SRO released in the light of Economic Coordination Committee’s (ECC) decision, which if not amended, will have severe consequences for consumers and industry as well. The DG-PAMA, in a letter to the FBR chairman, said motorcycle industry cannot afford any cost ... Read More »

Huge backlog of containers at KICT despite clear directives of Dar, Michael

KARACHI/LAHORE: Goods transporters in Karachi held prolonged strike a couple of weeks ago to get their grievances addressed by the federal government, provincial government, FBR and Ports authorities. During their 12-day long strike, economy suffered colossal loss of $24 billion. Importers and exporters faced tremendous difficulties during the strike as their containers got stuck up at the ports. PM Nawaz ... Read More »

Seafood catch, export down

KARACHI: A plunge in fish and shrimp catch has been observed in the month of October. It is estimated that about 40 percent catch has been reduced in October as compared to corresponding month the last year. This has resulted in seafood export decline by $2.861m in October this year, exporters has said. Data from Pakistan Bureau of Statistics (PBS) ... Read More »

Huge pilferage in Nato supply of POL products uncovered

KARACHI: Federal Board of Revenue (FBR) Director General Intelligence and Investigation (I&I) has uncovered massive theft of petroleum products while being supplied to Isaf and Nato forces in Afghanistan. According to official sources, the directorate has reported that several companies and contractors are transporting duty-free POL products to Afghanistan, but the supply is decanted before reaching the destination, which is ... Read More »

Kuwait rejects Pakistani consignments of seafood products

KARACHI: Pakistan’s fresh seafood consignments have been rejected by the Kuwaiti authorities due to alleged poor quality. Pakistan Fisheries Exporters Association (Pakfea) Chairman Faisal Iftikhar informed media that some weeks ago, Saudi Arabia had also rejected Pakistan’s seafood on quality grounds. He said, “Kuwait, that is one of the biggest seafood markets for Pakistan, cancelled import orders of about 15,000 ... Read More »

PEC flays Customs valuation guidelines

KARACHI: Pakistan Economic Forum Chairman Arshad Jamal has alleged that the stakeholders are facing trouble during the clearance procedure of containers at ports just because of valuation guidelines issued by Pakistan Customs. Arshad Jamal said that these valuation guidelines could not be practically applied. He said these directives would further add woes to traders’ problems and would not only put ... Read More »

Complete audit by Feb ’14: FBR directs tax auditors

KARACHI: Federal Board of Revenue has directed tax auditors to complete the audit by February 2014, the officials said. The tax auditors have been directed to complete the audit by the prescribed timeline and warned that no slackness and inefficiency would be tolerated, they added. In addition to this, FBR has directed tax auditors to get bank statements of the ... Read More »

Missing containers case: Customs officials brief FBR Chairman

KARACHI: Several meetings of Customs high officials held at Customs House, Karachi on Wednesday. The meetings were attended by Chief Collector (Enforcement) Muhammad Yahya, Chief Collector (Appraisement) Nasir Masroor Ahmed, Director General Afghan Transit Trade Farid Khawar Maneka, Collectors of Model Customs Collectorates (MCCs) Appraisement East, Abdul Rashid Shaikh, Appraisement West Muhammad Saleem, Muhammad Bin Qasim, Dr Agha Jawwad, Preventive ... Read More »

Supreme Court summons Ramzan Bhatti today

KARACHI: Supreme Court has summoned the Commission head, Ramzan Bhatti, on Thursday (today) after the reservations and concerns expressed by FBR lawyer over the Commission report on missing containers. An Apex Court bench, headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Justices Jawwad S. Khawaja, Mian Saqib Nisar, Amir Hani Muslim and Ejaz Afzal Khan, Wednesday resumed hearing of ... Read More »

KCAA website suspended due to non-payment

KARACHI: Karachi Customs Agents Association’s website has been suspended due to non-payment of hosting dues. SWD Infotech, the company providing the hosting facility to KCAA, has suspended the website and placed an ad containing details of billing/support department to vilify KCAA office-bearers on their sluggishness. The top management of KCAA should have paid the dues before the expiry date because ... Read More »

Automakers urge govt to withdraw SRO 577

KARACHI: Automakers have urged the government to withdraw SRO 577 which is giving undue advantage to the used car traders in duty and taxes, resulting into significant revenue loss to the government. In a joint statement, Abdul Waheed, Director General of Pakistan Automotive Manufacturers Association, and Usman Malik, chairman of Pakistan Association of Automotive Parts Accessories Manufacturers said that importers ... Read More »

FBR special cell to get info of accounts in Switzerland

KARACHI: Federal Board of Revenue is planning to exercise powers under Article 25(1) of the Avoidance of Double Taxation Treaty (ADTT) to get information of Pakistanis maintaining accounts in Switzerland, it is learnt. The sources said that the board was presently considering establishing a special cell in Karachi to invoke the provision of Article 25(1) by seeking the information regarding ... Read More »

Directorate I&I Balochistan claims 100 seizures despite shortage of staff

KARACHI: Directorate of Intelligence and Investigation, Balochistan has claimed to have made around 100 seizures in ongoing calendar year. According to official sources, despite the shortage of staff of 27 personnel responsible for carrying out anti-smuggling operations in the province coupled with the insurgency-like situation which badly hampers the movement of intelligence staff, the Directorate has performed exceptionally well during ... Read More »

Reduce forex cap to $3,000 for travellers: Customs suggests SBP

KARACHI: Pakistan Customs has urged the State Bank of Pakistan to change the regulations on taking out foreign currency abroad by an individual and has suggested the SBP to reduce it to $3,000 from $10,000 or cap an amount of $25,000 per annum to a person. According to Collector Model Customs Collectorate (MCC) Preventive S M Tariq Huda, the passengers, ... Read More »

APTMA urges India to open its market to Pakistani goods

KARACHI: All Pakistan Textile Mills Association (APTMA) Chairman Yasin Siddique has urged the Indian authorities to remove non-tariff barriers (NTBs) to boost bilateral trade between the two neighbouring countries. Speaking while welcoming the 15-member delegation of Indian journalists led by Mumbai Press Club President Gurbir Singh at APTMA house, Siddik said that Pakistan’s business community has welcomed the most-favoured nation ... Read More »

Customs assures garments exporters of clearing rebate claims

KARACHI: Pakistan Customs has vowed to refund the garments exporters’ stuck up claims against rebate as soon as possible. Customs officials pledged this in a meeting with the delegation of Pakistan Readymade Garments Manufactures and Exporters Association (PRGMEA) at Customs House. MCC Port Qasim Collector Agha Shahid Majeed and Collector Exports Dr Wasif Memon also assured the exporters of addressing ... Read More »

Govt to expand fishing business, exports: Michael

KARACHI: Federal Minister for Ports and Shipping Kamran Michael has said that the government is evolving a fresh fisheries policy with a clear view to augment export of the country’s key seafood products especially tuna and shrimp species. Being the chief guest at a seminar on Promoting Rights Based Approaches for Fishermen, jointly organised by WWF-Pakistan and Marine Fisheries Department ... Read More »

Police again ‘confiscate’ containers to block roads

KARACHI: Police and law enforcement agencies have once again ‘confiscated’ containers and heavy vehicles from the transporters to block the main roads in the backdrop of countrywide protests against the Rawalpindi incident. The confiscation of containers and other heavy vehicles causing troubles to the importers, exporters and transporters, and also halted trade activities in the country. In Karachi, the roads ... Read More »

MCC’s unique electric boat left defunct for years

KARACHI: ‘Barbarossa’, an electric boat with unique name and efficiency had been left defunct at ‘Ghans Bandar’ for almost 20 years. The boat Barbarossa had been included in the fleet of the Model Customs Collectorate (MCC) Preventive in 1989 and after passing few years it had been non-operational for Pakistan Customs. One of the senior officials in MCC Preventive told ... Read More »

BLA may be involved in kidnapping of Customs officials: Sources

KARACHI: The involvement of Balochistan Liberation Army (BLA) could not be ruled out in the abduction of six Customs officials, as they were involved in such illegal activities and crimes in same area in the recent past, sources said. Pakistan Customs sources told Customs Today that soon after the incident the law enforcement agencies started search operation to recover these ... Read More »