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Tag Archives: Valuation Ruling

Customs seizes shampoos, soaps at Sagian Bridge

LAHORE: The customs anti-smuggling cell seized a bus loaded with non-customs paid goods worth Rs 0.8 million on Tuesday. Sources said that the anti-smuggling cell impounded imported shampoos, soaps and miscellaneous goods at the Sagian Bridge. They said that the cell sent a team under guidance of Anti-Smuggling Inspector Khalid Butt that confiscated the bus filled with illegal goods and ... Read More »

LCCI President Sohail Lashari says businessmen know social obligations

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Engineer Sohail Lashari, during a visit to Al-Ehsan Welfare Eye Hospital, said that the business community is quite conscious of its corporate social responsibilities and is utilising all its resources to the help of less privileged class of society. “The LCCI has already done a lot of work in social sector ... 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 »

US Customs to return ‘Tyrannosaurus Skull’ to Mongolia

NEW YORK: The US customs authorities has decided to return the skull and vertebrae of an Alioramus dinosaur, a relative of the iconic Tyrannosaurus Rex, to Mongolia after Customs and Border Protection agents became suspicious of the French company importing them into the US. As per details, France had sent 70-million-year-old fossils, via courier, to a storage facility in Long ... 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 »

Chief Collector Burki tells customs officers to achieve targets

LAHORE: Four Model Customs Collectrorate of central region have collected Rs 18.74 billion customs duty during July-August 2014 which is 28 percent more than the Rs 14.61 billion of last year collection. As per details, Faisalabad Customs Collectorate collected Rs 1.02 billion attaining a growth of 31 percent than Rs 784 million of last year collection. MCC Multan on the ... Read More »

Customs seizes mobile phones at Islamabad Airport

ISLAMABAD: The Pakistan Customs has foiled a bid to smuggle mobile phones worth Rs 2 million into Pakistan from Islamabad Airport. As per details, Customs Airport Deputy Collector Naveedur Rehman and his team intercepted a passenger Imran Haider at green channel boarded the flight TG 349 and recovered smartphones and tablets worth Rs 2 million. The customs registered a case ... Read More »

Heavy rains play havoc with Lahore dry ports

LAHORE: Like other areas of the city, torrential rains have played havoc with already insufficient infrastructure at the Lahore Dry Port; bring business activities to a grinding halt. The Mughalpura Dry Port and Thokar Niaz Baig Dry Port have faced devastation to their already underdeveloped infrastructure due to the recent heavy rains. The dry ports have been inundated in rainwater ... Read More »

Hyderabad Customs seizes 35,000 litres Iranian oil

HYDERABAD: The Hyderabad Anti-Smuggling Squad has seized contrabands worth Rs 5.9 million including 35,000 litres Iranian oil and 17,000 metre cloth in August. As per details, Hyderabad Assistant Collector Preventive Imanullah on directives of Model Customs Collectorate Collector Dr Wasif Ali Memon, conducted successful raids against Iranian diesel, cloth and other contrabands and recovered the smuggled goods worth Rs 5.9 ... Read More »

Pakistan improves world ranking, but …

The World Economic Forum’s (WEF) has issued a Global Competitiveness Report for 2014 – 2015, indicating that there is improvement in the Pakistani economy, and it is now at 129th place out of 144 economies around the world. The report issued by Mishal Pakistan, the country partner institute of the Center for Global Competitiveness and Bench-marking Networks of the WEF, ... Read More »

PIA, Air Blue, Shaheen Air tried in Rs 1 billion tax scam case

KARACHI: The hearing of sales tax case between two state owned organizations, Pakistan Customs and Pakistan International Airlines (PIA), was conducted at Sindh High Court (SHC). Additional Attorney General Attiq Shah on behalf of both organizations attended the hearing in Sindh High Court. As per details, Pakistan Customs had raised demand of over Rs 1 billion in share of sales ... Read More »

Maneka, Customs officials for removing ATT, WeBOC hurdles

KARACHI: A meeting was held to discuss transit trade and review the progress of the reconciliation of consignments moving from Karachi ports to border points of the Pakistan Customs in Peshawar and Quetta. Director General of Transit Trade (TT) Khawar Farid Maneka presided the meeting which was attended by the additional director Karachi, deputy director TT processing Karachi, deputy director ... Read More »

Excise Department issues notices to recover luxury tax in Gujranwala

SIALKOT: The Excise and Taxation Department has issued notices to 170 owners of luxury houses in Gujranwala division to recover Rs 70 million as luxury tax. The Punjab government has recently levied luxury tax under the ratio of Rs 125,000 per kanal as property, including the posh localities of the cantonment boards. Director Excise and Taxation Ashiq Hussain Shah said ... Read More »

Govt urged to reap benefits of GSP Plus status

SIALKOT: The Sialkot Dry Port Trust (SDPT) chairman has urged the government ensure early implementation of the rules and regulations to protect environment, eradicate child labour and eliminate corruption under GSP Plus status granted by the European Union (EU) to reap full benefits of the status. Addressing an awareness seminar here, he said that early implementation of GSP Plus rules ... Read More »

Closing: Karachi stocks show 8.75 points increase on Thursday

KARACHI: The Karachi Stocks Exchange 100-index gained only 8.75 points on Thursday to reach 29604.30 mark as political standoff still prevails in Islamabad. The KSE 100-index opened at 29523.78 and total trade volume remained 128,676,320 shares. The highest increase witnessed in price of Fauji Cement, Telecard Limited, Jah sidd Company and Engro Corporation while the Unilever Pakistan, Siemens Pakistan, Shield ... Read More »

Political crisis amid inflation

The warning bells are ringing from all sides amid political crisis in Islamabad. The whole world is watching developments in Pakistan and friendly countries like China and the United States are looking the events with concern. The Indian prime minister, who is spitting venom against Pakistan since his Bharatiya Janata Party has come to power,is also worried about the situation ... Read More »