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Tag Archives: under-invoicing

Rs 333 million goods imported from India via Wagha Border

LAHORE: Pakistan has imported items worth Rs 333 million between September 15 and 21 from India via the Wagha border. According to available documents, the major items were potatoes, tomatoes, garlic, cake-oil, polyethylene and cotton yarn. The documents also read Pakistan imported potatoes worth Rs 19.8 million during the last week. No duty has been imposed on the import of potatoes from India ... Read More »

Importers lament theft incidents at PICT

KARACHI: Traders and importers have expressed their deepest concerns over growing theft incidents at the Pakistan International Containers Terminal (PICT) during last few months. Sources told Customs Today that traders and importers were of the view that these incidents are now testing their nerves as customs authorities were not taking any action. On the other hand, they said, delay in ... Read More »

2,000 containers supply ATT goods from Karachi ports

KARACHI: Pakistan is constantly losing its share of the Afghan Transit Trade (ATT), the primary beneficiary of which is Iran. There are no statistics available but it is estimated that Iran’s share in total Afghan Transit has increased to 70 percent while Pakistan’s share has declined to just 30 percent; a high placed official said while talking to Customs Today ... 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 »

Federations of Pak-Indian chambers join hands to enhance bilateral trade

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Federation of Indian Chambers and Commerce (FICCI) have signed an agreement to enhance bilateral trade between the two countries. The agreement was signed between both the representative bodies of traders on the sidelines of the Alishaan Pakistan Expo recently concluded in the Indian capital New Delhi. FPCCI Vice President ... 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 »

PTI, PAT marches: Punjab govt launches crackdown on crane owners

MULTAN: The Punjab government has started a crackdown on the cranes’ owners who had provided cranes to the Pakistan Tehreek-e-Insaf (PTI) and the Pakistan Awami Tehreek (PAT) on rent during their respective marches. As per details, the Punjab Police has started the crackdown on owners of cranes used for removing containers during marches after receiving the orders from the provincial ... Read More »

FIA likely to grill customs officials for clearing pharma raw material

KARACHI: A team of the Federal Investigation Agency (FIA) Lahore is mulling over to visit Karachi for further investigating the case related to the clearance of pharmaceutical raw material in which 76 Customs officials involved. Sources informed Customs Today that a team headed by FIA Assistant Director Mian Asif, husband of slain MQM MNA Tahira Asif, may visit Karachi to ... Read More »

US asks 5 European countries to set up preclearance checkpoints

NEW YORK: The United States has asked five European countries to establish preclearance checkpoints at airports for customs and immigration. The advance checkpoints for foreign travel were recently available only in Canada, the Caribbean, Ireland and the United Arab Emirates. As per details, US has approached England, France, the Netherlands, Germany and Sweden about the set up without making a ... Read More »

Physical, mental health perquisite for nation’s efficiency: LCCI

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has organised a day-long seminar on “The Hidden Enemy” on Friday, in which a large number of people from different walks of life participated. LCCI Vice President Kashif Anwar and renowned Psychiatrist Dr GH Saqib Kalyani spoke on the occasion and marked the importance of physical and mental health. They pledged ... Read More »

Ex-CEO Hamdani owns TCS building

ISLAMABAD: The customs authorities have learnt that former TCS CEO Saqib Hamdani has the ownership of the main building of the TCS Express and Logistics Centre near Jinnah International Airport at Iqbal Avenue, Karachi. This revelation has opened new dimensions in the TCS and Smart Zone Company smuggling case that how a man hired as CEO could have the ownership ... Read More »

LCCI polls: Anarkali traders support PIAF-Alliance

LAHORE: The traders of Anarkali and associated markets have announced to support PIAF-Founders Alliance candidates in the LCCI elections being held on September 22-23 in Lahore. The announcement was made by the President of Anjuman-e-Tajran Ashraf Bhatti during the visit of Alliance candidates to Anarkali Market. Alliance leaders, Sheikh Muhammad Asif, Sheikh Muhammad Arshad, Alliance candidates for Associate Class, Nasir ... Read More »

Import goods theft at Ports becoming severe: Muffasar Malik

KARACHI: Acting President of the Karachi Chamber of Commerce and Industry (KCCI), Muffasar Atta Malik has expressed deep concern over rising incidents pertaining to theft of imported goods during examination and clearance from all ports of Karachi city, which causes severe losses to importers. In a statement issued, acting president urged Ports and Shipping Ministry and Chairmen of all ports ... Read More »

2000 containers used to restrain Imran, Qadri marches

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Vice President Mian Tariq Misbah said that road blockade with containers may save the democracy but could subvert the economy. He said that delay in consignments has affected the business community, especially the small businessmen and industry. “If government has given the permission to the marches of Pakistan Tahreek-e-Insaf Chairman Imran khan ... Read More »

Slow economies affecting major ports, says Shanghai Shipping Institute

SHANGHAI: Ports around the world overall saw weak performance in the second quarter of 2014 due to less trade to and from emerging markets in Asia, according to the Shanghai International Shipping Institute. The report stated that developed economies, particularly the US, have kept a steady recovery, emerging economies in Asia, however, facing headwinds. “Container at large Chinese ports rose ... Read More »

Sri Lanka Customs seizes drugs at Bandaranaike Airport

COLOMBO: The Sri Lanka Customs has seized drugs worth Rs 2 million, used for illegal abortions, during a raid at the airport. Customs Preventive Division official intercepted a businessman and recovered illegal drugs imported from India at the Air Cargo Terminal of the Bandaranaike International Airport in Katunayake. Sources told that the businessman has imported the drugs form Chennai and ... Read More »

Customs to test WeBOC at Wagha Border soon: Majid Yousfani

KARACHI: Pakistan Customs to test Web Based One Customs (WeBOC), the homegrown state of the art automation system designed and developed entirely by Pakistan Customs, at Wagah Border this month. Director of Reforms & Automation Abdul Majid Yousfani said that WeBOC will introduce land and air modules till end of this month to help widen the reach of Pakistan Customs ... Read More »

Transfer, posting rules of FBR being infringed in Customs Service

KARACHI: The rules and regulations of the transfers and postings, issued by Federal Board of Revenue (FBR) are being floundered in the Pakistan Customs Service (PCS), sources said. As per the orders issued by the board, none of the PCS officers is allowed to hold an office for more than three years. The same orders are also applicable on the ... Read More »

Modified WeBOC modules to be operational from June 2015

KARACHI: The Directorate of Reforms and Automation has planned to turn all 60 modules of WeBOC (Web Based One Customs) on the design specifications provided by the directorate, operational from June next year. The installation of WeBOCs, which can be easily modified to shape up and provide more effective customs control and better trade facilitation, would launch a new era ... Read More »

Iran customs collects $ 1.87 billion in 5 months

TEHRAN: Iran customs has collected 58 trillion Iranian rials ($1.8 billion) in the first five months of the current Iranian calendar year from March 21 to August 22. Head of Iran Customs Administration Masoud Karbasian said that IRR 28 trillion of the mentioned amounts was accepted letter of credit. A letter of credit is a document issued by a financial ... Read More »

Transfers & Postings