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Tag Archives: Nisar Muhammad

ICCI urges govt to improve tax structure

ISLAMABAD: Islamabad Chamber of Commerce & Industry (ICCI) has demanded the government to improve tax structure for developing business and investment. The acting President, Islamabad Chamber of Commerce & Industry Muhammad Ali Mirza said that the existing tax structure discourages investment and encourages rent seeking. “A better tax system would help to improve economic growth of the country, but unfortunately, ... Read More »

Dastgir briefs Parliament on trade ties with India

ISLAMABAD: Minister for Commerce Engineer Khurram Dastgir Khan told the Lower House of the Parliament that the government has been addressing the reservations and concerns of business sector regarding granting the most favorite nation (MFN) statute to India. “Overall normalization of trade ties with India will be in favor of Pakistan both in short term and long term basis” he ... Read More »

Customs seizes non-PVC cable worth Rs 10 million

LAHORE: Customs Investigation and Intelligence (I&I) Lahore has seized a container of non-PVC cable worth Rs 10 million from a warehouse. Sources said that the cable container was confiscated as the owners failed to produce its documents. They said that the cable was imported by an importer for Peshawar in raw form which is 100 percent duty free but the ... Read More »

Customs to introduce X-Series for air traffic

KARACHI: Pakistan Customs is going to introduce latest X-Series by the beginning of the year 2015 for making the connectivity between airports and Pakistan Customs more effective in terms of filing Import General Manifest (IGMs). A FBR sources confirmed Customs Today that the Pakistan Customs with the collaboration of Emirates Airlines and International Air Transport Association (IATA) will start its ... Read More »

TCS, Smart Zone smuggling scandal: DG I&I pressurized to stay away from case

ISLAMABAD: Director General Customs Intelligence and Investigation (I&I) Lutfullah Virk has ordered Deputy Director Customs Shahid Jan to take strict action as per law against TCS and Smart Zone Company for their alleged involvement in smuggling. As per details, owners of TCS and Smart Zone companies had tried to put pressure on DG I&I through different means but he rejected any ... Read More »

FBR withdrawal of duty on steel sheet plunges fans’ price

PESHAWAR: The prices of electric homemade room coolers and fans in Peshawar dropped after Federal Board of Revenue (FBR) has withdrawn 10 percent Customs duty on the import of electrical silicon steel sheet. Afghan refugees who were residing in Peshawar Khyber Pakhtun-khwa have also developed their local industry of electric rooms coolers which were widely popular on low rates as ... Read More »

Gujranwala region: FBR to bring 10,000 evaders under tax net

SIALKOT: Federal Board of Revenue (FBR) has decided to bring about 10,000 small traders and businessmen under the tax net and to collect tax from 85000 inactive NTN holders in Gujranwala region. As per details, the FBR has formulated six special teams for each of the six districts, Sialkot, Narowal, Gujrat, Mandi Bahaud Din, Hafizabad and Gujranwala which were going ... Read More »

Comparing cost of renting a house in DHA, Karachi and Lahore

LAHORE (AZKA NAEEM): Defence Housing Authority (DHA) has been the top investment choice among known property investors of Karachi and Lahore. Overseas Pakistanis consider DHA a prime investment option because of hassle-free property transfer mechanism and investment security offered by Defence Housing Authority. When it comes to comparing return on property investments made in different localities of Karachi and Lahore, ... Read More »

FBR exceeds revenue target by Rs 1 billion in July

ISLAMABAD: The committed work of field formation officers under new acting Chairman helped the Federal Board of Revenue (FBR) in exceeding the revenue collection target in July 2014 by one billion rupees as it collected Rs 138 billion during the month of July against Rs 137 billion target. Acting Chairman of FBR Shahid Hussain Asad while talking to Customs Today ... Read More »

FBR acting Chairman to visit Karachi Customs House next week

KARACHI: The Federal Board of Revenue acting Chairman Shahid Hussain Asad is likely to visit Karachi Customs House next week. The FBR sources confirmed Customs Today that the acting chairman Shahid Asad would expected to visit customs house next week where he will hold meetings with the Customs officers. It further informed this scribe that the agenda of the meeting ... Read More »

Job undone: Dar to face IMF next week

ISLAMABAD: Pakistan’s economic team lead by Finance Minister Ishaq Dar is likely to face criticism by International Monetary Fund (IMF) in Dubai next week on its failure to broaden the tax base in last fiscal year. A source from FBR told Customs Today that the talks with the IMF going to begin next week in Dubai and economic team may ... Read More »

Govt to re-shuffle FBR’s top officials

KARACHI: The federal government has been mulling over to reshuffle the top bureaucracy of Pakistan Customs, Inland Revenue Services (IRS), Regional Tax Offices (RTOs) and Directorate General of Customs Intelligence and Investigation. A source told Customs Today that the changes would be on cards at chief collector, collector and commissioner and director level. He said that the federal government was ... Read More »

Customs seeks court to summon Royal Packages

KARACHI: Model Customs Collectorate of Appraisement-East has requested the Sindh High Court (SHC) to summon M/s Royal Packages (Pvt) Limited for hearing in August. It is pertinent to mention here that the M/s Royal Packages has moved court against the charges of tax evasion in terms of customs duty, sales tax and income tax through claiming of inadmissible benefit of ... Read More »

MCC Sialkot’s efforts increase exports 17.1%: Qurban Ali

SIALKOT: Collector of Customs Sialkot Qurban Ali Khan while talking to Customs Today said that exports from Sialkot region has increased about 17.1 percent during FY 2013-14 due to provision of advance facilities and rapid clearance of consignments by Model Customs Collectorate. He said that volume of exports from Sialkot Dry Port Trust (SDPT) and Sialkot International Airport has increased ... Read More »

Senate seeks FIA to report on tax evasion in oil import

ISLAMABAD:Senate Standing Committee on Planning and Development has asked Director General Federal Investigation Agency to submit a report on adulterated oil import and tax evasion during those imports. Federal Investigation Authority (FIA) likely to be given charge of examination of adulterated oil and of investigations in possible tax evasion by oil importers. As per details, Director General FIA would brief ... Read More »

FBR, PTA to keep record of imported mobiles

ISLAMABAD: Federal Board of Revenue has decided to take necessary steps as per the instructions of honourable Supreme Court in its verdict about illegal import of mobile phones and their use in terrorism activities. As per details, FBR with collaboration of Pakistan Tele-communication Authority (PTA) has decided start to maintain a record of every single mobile phone imported to Pakistan. ... Read More »

Committee formed to probe allegations against appraising officer

KARACHI: The Appraising Officials Association of Pakistan Customs in its meeting at customs house has decided to form a committee in order to probe the real aspects behind registering an FIR against an appraising officer by the Directorate General of Customs Intelligence and Investigation I&I. According to details, a committee comprising Shaheen Farooqui, Javed Akhtar, Mir Mansoor, Dost Muhammad and ... Read More »

Customs seizes 39 tons of iron sheets worth Rs5m

LAHORE: Customs anti-smuggling unit seized 39 tons of iron sheets worth Rs 5 million in a raid near Multan Road. A Source informed Customs Today that the iron sheet was being sold in local market when anti-smuggling unit caught the culprits as iron sheet were smuggled without paying Rs 3 million duty. Moreover, he added that iron sheets were coming ... Read More »

Chief Collector Nazim Saleem to hold meetings at Quetta today

KARACHI: Chief Collector Enforcement-South Muhammad Nazim Saleem left for Quetta for holding meetings with officers of Quetta Collectorate. As per details, the Chief Collector Enforcement-South will also visit the check-posts of Pakistan Customs established at the entry and exit points of the Quetta city. A source from FBR told Customs Today that the Chief Collector Enforcement-South will hold meetings regarding ... Read More »

SHC issues stay order against demotion of 39 TCP officials

KARACHI: The Sindh High Court (SHC) has issued stay order against the demotion of 10 officers and 29 employees of Trading Corporation of Pakistan (TCP) here on the other day. The TCP sources informed Customs Today that those 39 TCP’s officials were demoted by the illegally formed TCP board of directors. The sources further said that the Sindh High Court ... Read More »