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Author Archives: CT Report

Australian fresh fruit exports exceed 1bn


CANBERRA: Australian fresh fruit exports have exceeded A$1bn (US$750m) for the first time in a calendar year, according to figures released by the Australian Bureau of Statistics. In 2017 Australia exported 456,742 tonnes of fresh fruit, 7 per cent more than in 2016, and worth A$1.11bn. Of this, 38 per cent went to China and Hong Kong, where exports to ... Read More »

Bangladesh opposition leader jailed for five years on corruption charges


DHAKA: Bangladesh Nationalist Party (BNP), Khaleda Zia, was convicted and sentenced to five years jail this month after a special court found her guilty of corruption. She was imprisoned on February 8. Zia was accused of embezzling nearly 21 million taka ($US250,000) in foreign donations meant for an orphanage trust established when she was prime minister from 2001 to 2006. ... Read More »

FBR should remove hurdles for smooth promotion of national exports: FTO Mushtaq Sukhera


SIALKOT: Federal Tax Ombudsman Mushtaq Ahmed Sukhera has stressed the need of further betterment in tax payment and tax collection systems for providing maximum relief to the tax payers and the exporters. He said that the Federal Board of Revenue (FBR) should remove hurdles from the smooth way of promotion of national exports by reducing the prolonged pendency of the ... Read More »

FBR seeks citizens’ help to trace individuals named in Panama, Paradise leaks


ISLAMABAD: The Federal Board of Revenue (FBR) has sought help of all citizens of Pakistan who have any information that can lead to identification and tracing of the individuals whose names were disclosed in Panama leaks, Offshore leaks and Paradise leaks. In an attempt to probe and tax the investments of Pakistani citizens who own offshore companies and whose names ... Read More »

PHC bars FBR from sales tax collection in PATA


PESHAWAR: The Peshawar High Court bench has barred Federal Bureau of Revenue (FBR) from collecting sales tax from Provincially Administered Tribal Areas (Pata), namely Malakand, Dir, Shangla, Kohistan, Buner, Batagram and Dara Adam Khel. A two-member bench comprising Peshawar High Court Chief Justice Yahya Afridi and Justice Ayub Khan passed the order while hearing a case filed by a resident ... Read More »

8 Customs officers promoted to BS-21 and 14 officers to BS-20


ISLAMABAD: Federal Board of Revenue (FBR) has promoted eight Pakistan Customs Service officers of BS-20 into BS-21 and 14 officers of BS-19 into BS-20 on regular basis with immediate effect. The promoted officers include Dr Sarafarz Ahmed Waraiach, Ziauddin Wazir, Dr. Naeem Aijaz Qureshi, Dr. Zulfiqar Ahmed Amalik, Dr. Ahmad Mujtaba Memon, Saud Imran Ahmad, Syed Mohammad Tariq huda and ... Read More »

52 Inland Revenue officers promoted to BS-20


ISLAMABAD: Federal Board of Revenue (FBR) has promoted 52 Inland Revenue Service officers of BS-19 into BS-20 on regular basis with immediate effect. The promoted officers, include 1. Ms. Lubna Ayub Asif, 2. Mr. Sajidullah Siddiqui, 3. Mr. Muhammad Imtiaz, 4. Mr. Muhammad Waseem Altaf, 5. Mr. Khalid Javed, 6. Mr. Tariq Mustafa Khan, 7. Dr. Aftab Imam, 8. Dr. ... Read More »

Ice cream’s customs valuation revised

ice cream

KARACHI: The Customs value of ice cream has been revised through Valuation Ruling No. 1263/2018. Customs values of ice cream were earlier determined vide Valuation Ruling No.1167/2017. However, various representations were received from the importers for re-determination of values of ice cream. Karachi Customs Valuation Director Iqbal Muneeb determined the customs values of ice cream through Valuation Ruling No. 1263/2018. Read More »

ICCI’s Tenpin Bowling Championship concludes successfully


ISLAMABAD: The Sports Committee of Islamabad Chamber of Commerce & Industry organized a two day Tenpin Bowling Championship to promote sports activities in the members of Chamber and their kids. The championship featured men’s singles and team, females singles and doubles, mixed team and singles for kids of the members. M. Ashfaq Chatha, former Vice President ICCI got the first ... Read More »

Verdict reserved on Sharifs’ objections on NAB supplementary references

Sharif family

ISLAMABAD: An accountability court on Thursday reserved its verdict on two supplementary references regarding Al-Azizia Steel Mills, Flagship Investment and Hill Metal Establishment cases. Judge Mohammad Bashir resumed the hearing after former prime minister Nawaz Sharif, his daughter Maryam Nawaz and son-in-law Captain (retd) Safdar have reached the court. As the hearing began, counsel for Nawaz Sharif, Ayesha Hamid, submitted ... Read More »

Shipping activity at Port Qasim

port qasim

KARACHI: Brisk shipping was recorded at the Port where six ships, Marie Delmas, Lowland Amster, Secon-7, Rainbow Island, YM Saturn and British Emerald carrying Containers, Coal, Palm oil, Chemicals and LNG were allotted berths at Qasim International Container Terminal, Multi-purpose Terminal, Port Qasim Electric Power Terminal, Liquid Cargo Terminal, Engro Vopak Terminal and Engro Elengy Terminal respectively during last 24 ... Read More »

Pak rupee closes flat in interbank, loses value in open market

Pak rupee

KARACHI: The Pakistani rupee Thursday closed flat in the interbank and lost strength in open market against the US dollar. As per the local money market, the dollar closed dull in the open currency market by 15 paisas on insignificant demand. The greenback closed at Rs 111.60 for buying and Rs 111.90 for selling in the open market. The dollar ... Read More »

Cops foil smuggling of contraband cigarettes alcohol in Oman


MUSCAT: Large quantities of smuggled alcohol and tobacco were confiscated by Oman Customs recently, at various border posts around the country. In two statements released online, the department said, “Customs thwarted number of smuggling of alcoholic beverages and quantities of tobacco in border posts at Khatmat Malaha, Al Dar and Al Wajajah. “The customs of Wadi Al Jizi outlet thwarted ... Read More »

German trade surplus with U.S. widens again in 2017


BERLIN:  Germany’s trade surplus with the United States widened again in 2017, official figures published on Wednesday by the Federal Statistical Office show. According to the Wiesbaden-based government statisticians, in the trade with the U.S., Germany exported goods worth 111.5 billion euros (137.5 billion U.S. dollars) while imported goods worth 61 billion euros, resulting in a surplus of 50.5 billion ... Read More »

Taiwan invests in Israeli hi tech rides the startup wave


TAIPEI:  Taipei and Taoyuan cities in Taiwan are equipped with artificial visual sensors that see threats ahead and warn the drivers of them. The technology was created by Mobileye, an Israeli firm. It is the most prominent example of cooperation in high technology between Taiwan and Israel. “Mobileye is the leading company in its field in the world,” said Asher ... Read More »

Afghan farmers to replace poppies with pomegranates


KABUL: Afghanistan produces 90 percent of the world’s poppy-produced heroin supply, but that is starting to change. The industry currently employs about 3 million Afghans, but new incentives encouraging farmers to switch to crops like saffron, pomegranate and nuts are helping change the agricultural landscape. Trade routes are opening up for Afghan farmers, who are being offered grants to help ... Read More »

Jordan India to expand trade investments


AMMAN:  More than 300 Jordanian and Indian businessmen and investors are scheduled to discuss business opportunities at a forum that will be held next week in the Indian capital, New Delhi, according to the Jordan News Agency, Petra. The business forum, which will focus on boosting investments, commercial relations, and partnerships between the two countries, is held on the sidelines ... Read More »

Iraq wants oil exported through Turkey


BAGHDAD: Crude oil from northern Iraq flows primarily by truck and through a pipeline from territory controlled officially by the Kurdish government to Ceyhan. A second pipeline runs north from Kirkuk, though the ministry spokesman said it was damaged so badly by Islamic State militants that parts of it would need to be rebuilt. The Iraqi Oil Ministry in January signed a memorandum of ... Read More »

Qatar development bank to rejuvenate tasdeer to further boost exports


DOHA: Qatar Development Bank (QDB) has announced plans to enhance the level of participation in international exhibitions and other export promotion related activities to almost double this year compared to last year. The state-backed development agency, under its export promotion and development programme—Tasdeer—is aiming to boost exports of local products and services by providing and facilitating market access to small ... Read More »

Kuwait current account surplus improves in Strong import growth weighs on trade balance


KUWAIT CITY: Kuwait’s current account surplus improved in 3Q17, as easing remittances and resilient exports countered a larger deficit in services. The surplus rose to KD 0.42 billion, versus KD 0.26 billion in 2Q17, reaching an annualized 4.8% of GDP. Overall, the preliminary current account figures for the quarter had vastly improved from 2016 levels as the oil price rose ... Read More »