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Tag Archives: World clock time

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 »

Court issues non-bailable warrants for arms smuggler

KARACHI: The Customs and Taxation Court Special Judge Soofia Latif issued non-bailable warrants for Javed Sami, accused of smuggling arms and ammunition at Jinnah International Airport Karachi last month. Sami was caught with arms and ammunition in his personal baggage and remanded to FIA custody. Sources informed Customs Today that customs has recovered 25 parts of pistol and 97 magazines from ... 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 »

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 »

FBR to devolve powers to act against ‘black sheep’

ISLAMABAD: The Board in Council of the Federal Board of Revenue (FBR), on suggestion of Member Customs Nisar Muhammad Khan, has decided to give authority of institutional punitive measures to field formations, chief collectors and chief commissioners. After the said decision, heads of the field formations will be authorised to take action against corrupt officers on mismanagement and corruption. The ... Read More »

Bajwa directs tax officers to recover Rs 70 billion from SM Foods

MULTAN: The Federal Board of Revenue Chairman Tariq Bajwa has directed the subordinates to present the comprehensive report on Rs 70 billion tax evasion by a famous businessman of Multan City. As per details, FBR chairman asked regional tax officers of Multan to recover Rs 70 billion rupees tax from a businessman evaded in last two years. The accused Saim ... 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 »

PRA seeks audited copy of accounts from taxpayers

LAHORE: The Punjab Revenue Authority (PRA) has asked the registered persons and businesses in corporate sector to submit a copy of annual audited accounts along with tax payments’ propriety certificate from auditors. The authority said that the main provisions relating to maintenance and production of records for the purpose of Punjab sales tax are available under sections 31 and 32 ... 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 »

India to frame law to protect Pakistani investors

ISLAMABAD: The Ministry of Commerce, in a report, sent to the government stated that the Indian Parliament is planning legislation to provide financial and non-financial protection to those Pakistani investors who are interested to invest in India. “Therefore, Pakistani government must also take such an initiative to attract more investment from foreign investors and legislate to protect the foreign investors,” ... Read More »

FBR Chairman Bajwa chairs board-in-council meeting today

ISLAMABAD: The Federal Board of Revenue (FBR) has changed the time for board-in-council meeting to 2:30pm which was scheduled at 11am on Wednesday. As per details, FBR Chairman Tariq Bajwa will preside the meeting in which policy decisions about audit policy will be taken. FBR Member Inland Revenue Policy Shahid Asad, Member Inland Revenue Muhammad Ashraf Khan, Member Admin Shahid Hussain Jatoi, ... Read More »

ANF seizes tons of contrabands in Khyber Pakhtunkhwa

ISLAMABAD: The Regional Directorate Anti-narcotics Force (ANF) Khyber Pakhtunkhwa recovered smuggled drugs worth billions of rupees in August, which were several times more than the quantity of drugs recovered during July. According to the available data, the ANF seized 27.6kg heroin, 460kg hashish, 50,400kg sulfuric acid and 2.5kg amphetamine in August. Statistics revealed that ANF arrested 20 accused for their alleged involvement ... 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 »

TDAP to organize ‘Alishan Pakistan’ exhibition in New Delhi

ISLAMABAD: Despite strong opposition by an Indian Hindu fundamentalist organisation, preparations are in full swing to make the upcoming event ‘Aalishan Pakistan’ lifestyle exhibition in New Delhi a big success. The event is being organised by Trade Development Authority of Pakistan (TDAP). The Hindu Janajagruti Samiti (HJS), working for establishment of Hindu society, has demanded the Indian government stop the ... 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 »