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Tag Archives: Pakistan Custom’s

Valuation ruling of bicycle parts issued

KARACHI: The Directorate General of Customs Valuation has determined the Customs values of China-origin bicycle parts, vide Valuation Ruling No.690/2014 No.Misc/16/2008-VIIIA-P-II dated September 23, 2014. The Customs value of the said goods were earlier determined under Section 25A of the Customs Act 1969, vide Valuation Ruling No. 319/2011 dated May 18, 2011 and its amendment dated July 23, 2011. However, ... Read More »

Closing: KSE loses momentum, closes at 30095.80 points

KARACHI: Karachi Stock Exchange (KSE) 100-index lost 47.97 points to stand at 30095.80 points and volume of 103,676,850 shares on Wednesday, as the market could not sustain yesterday’s gains of 149 points. Stocks market opened at the overnight closing of 30143 points and consolidated its early rally and benchmark KSE-100 index kept on upwards march to gain 183 points to ... Read More »

Multan E&T Officer Waqar Kiyani takes charge

MULTAN: Multan Excise and Taxation (E&T) Officer Waqar Ahmad Kiyani took charge of his office. Earlier, Kiyani was working in the Excise and Taxation office in Rawalpindi. He is optimistic that the department will achieved the set targets. The Multan Excise and Taxation Department is running a campaign for collection of taxes before September 30. The Multan Excise and Taxation ... Read More »

Closing: KSE gains 149 points, ends above 30,000 mark

KARACHI: Karachi Stock Exchange (KSE) 100-index gained 149.90 points to close at 30143.77 points on Tuesday, amid the confusions and concerns which have been haunting the market for past few days. Earlier, in the morning, the investors started trading very carefully, keeping current political standoff in mind, due to which KSE 100-index shed 21 points to stand at 29972.87 points ... Read More »

Customs seizes 4kg heroin

ISLAMABAD: Pakistan Customs seized 4kg heroin from a UK-bound passenger at Islamabad Airport early on Tuesday morning. According to sources, the accused passenger, Ismail who belongs to district Nowshera, was going to Birmingham, UK on PIA flight PK-791. The passenger has been arrested and an FIR has been lodged against him. The Customs authorities have registered a case against the ... Read More »

Chief Collector Nasir Masroor transfers 10 low-rank staffers

KARACHI: Customs Appraisement-South Chief Collector Nasir Masroor ordered immediate transfers and postings of 10 subordinate employees on September 20. The employees include four upper division clerks (UDC), four lower division clerks (LDC) and two record sorters. Four have been transferred from the Directorate of Post-Clearance Audit (PCA) while another four have been transferred to the PCA. Qutubuddin, UDC; Javed Awan, ... Read More »

Closing: KSE plunges further on start of week

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 21.93 points to stand at 29993.87 points on the first day of trading on Monday, as the country has been facing multifarious challenges these days. Earlier, the market started the week on a positive note and went up 34 points or 0.11 percent to reach 30049.91 points in morning session. However, the ... Read More »

Streamlining of Customs processes reduces clearance time

KARACHI: The Pakistan Customs is in the process of evolution mainly due to the induction of the Web Based One Custom (WeBOC) Customs clearance system. The WeBOC provides real time integration of agents, brokers, terminal operators, cargo handlers and customs officials for the clearance of trade consignments and collection of duties and allied taxes. The system is in the process ... Read More »

Importers wary of smuggling via ATT, discriminatory valuation guidelines

  KARACHI: Importers have once again expressed deep concerns over significant decline in trade activities due to alleged discriminatory implementation of valuation guidelines. The importers of Karachi, while sharing their views with Customs Today, said that the shifting of trade from Karachi port to dry ports in other cities is continued due to a significant difference in the customs values of ... Read More »

Importers face losses due to mismanagement at ports

KARACHI: The traders and importers have expressed concerns over filing of Import General Manifest (IGMs) by Shipping Lines and Port authorities, as the importers were paying hefty amount in form of demurrage and detention to the shipping lines due to alleged inefficiency of the authorities concerned. The importers were of the view that the shipping lines were not filing proper ... Read More »

Weekly review: KSE remains under pressure due to political impasse

KARACHI: The Karachi Stock Exchange (KSE) 100-index has lost 16.36 points in the weeklong trading, as it opened at 30044.89 points on Monday and closed at 30028.53 points on Friday. The KSE witnessed bearish trend most of the days as the market kept on fluctuating amid investors’ concerns for political uncertainty and economic losses on account of devastating floods, especially ... Read More »

Closing: KSE rally falters half way, loses 65.63 points on last trading day

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 65.63 points to stand at 30028.53 points on the last day of trading on Friday. As per details, the market opened with a positive note and added 48 points or 0.16 percent, the tone remained sluggish amid flurry of political developments. The KSE-100 index went down 21.2 points from overnight tally of ... Read More »

Lahore Customs collects 86pc more duty than last year

LAHORE: The Model Customs Collectorate Lahore has detected 36 mis-declaration cases in the first two months of current fiscal year and collected Rs 11.62 million federal excise duty which was 86 percent more than the collections during same months of last year. Sources told that the customs also collected Rs 2367 million customs duty during July-August period, which was 33 ... Read More »

33pc consignements being cleared through Green Channel: Collector Najeeb

KARACHI: MCC-Appraisement (East) Collector Najeebur Rehman Abbasi has said that Queue Management System (QMS) will be introduced at the Collectorate in the near future. The collector claimed that Pakistan Customs was the only state department wherein the public could approach officials/officers of BPS-11 to 21 merely in an hour time to get their problems resolved. Collector Najeebur Abbasi declared that ... Read More »

Customs lab needs improvement on war-footing basis: Collector Saleem

KARACHI: Model Customs Collectorate (MCC) of Appraisement (West) Collector Muhammad Saleem has admitted that the Customs Laboratory needs improvement on war-footing basis. Collector Muhammad Saleem assured the traders’ community that the Pakistan Customs was working on upgradation of the Customs Laboratory and the improvement would be inducted in the same field within 6 months. Responding on the grounding issues at ... Read More »

Closing: KSE index plunges on political uncertainty

KARACHI: The Karachi Stock Exchange (KSE) 100-index plunges 42.41 points to stand at 30094.16 points, as indiscernible effects of institutional profit-taking, political uncertainty and flood devastation kept the KSE-100 index in red zone The KSE-100 index, opened at overnight closing of 30136 points and kept on fluctuating amid investors’ concerns for political uncertainty and economic losses on account of devastating ... Read More »

Chief Collector Nasir Masroor terms under-invoicing dilemma

KARACHI: Customs Chief Collector Appraisement-South Nasir Masroor Ahmed has said that the customs authorities issued valuation guidelines because principal appraisers and appraisers of the Pakistan Customs Services were not applying the customs values of commodities in proper way. He visited Karachi Chamber of Commerce and Industry (KCCI) on Wednesday. Collector MCC Appraisement-West Muhammad Saleem, Collector, MCC Appraisement-East Najeeb-ur-Rehman Abbasi, Collector ... Read More »

4 deputy collectors retiring this month: Deputy Collector Farhat

MULTAN: Multan Customs Deputy Collector Miss Farhat has said that four deputy collectors have been completing their service tenure in Multan customs office this month whereas a post of deputy collector is already vacant. Miss Farhat has expressed these views in an exclusive interview with Customs Today. She said that the Multan customs has collected Rs 10.69 billion import duty last ... Read More »

ANF receives 20,000 applications against 254 posts

ISLAMABAD: The Anti-Narcotics department has received more than 20, 000 applications till now against 254 vacancies in the ANF Headquarters Rawalpindi. As per details, Ministry of Interior has invited applications from suitable male/female candidates for the vacancies of grade1 to 14 to be submitted before September. Sources expected that number of applications would certainly touch the figure of 30, 000 ... Read More »

Director valuation Mahboob Saqib retires

LAHORE: The Directorate of Customs Valuation Director Mahboob Saqib Khan has retired from his services, attaining the age of superannuation in BPS-20. During his service Khan has contributed significantly in the development of the Customs Department. As chief TEPI and computer bureau, he upgraded the computer hardware and provided optic fiber based connectivity to all floors of the custom house. ... Read More »