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Author Archives: Sohail Rab

Fate of Textile Ministry hangs in balance

textile

Karachi:  The value-added textile sector has shown its sheer concern over the indifferent attitude of the government for not appointing Commerce Minister even after passing more than two months. The Acting Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Irfan Ali said it’s really surprising that Prime Minister Nawaz Sharif has yet to name Commerce Minister or decide the ... Read More »

Shipping activity

Containers-at-Karachi-Port

Karachi: MV Martorell carrying 114 vehicles from Japan is expected to call on Karachi Port on August 15. The continuous influx of completely built units (CBU) has become a major source of concerns for local auto industry due to drastic decline in demand primarily owing to rising inflation and reducing purchase power. Weakening of rupee against dollar is the primary reason ... Read More »

Sri Lanka to expand Colombo ports capacity

colombo port

Karachi: Sri Lanka recently marked the opening of its expanded Colombo port, a $400 million (Dh1.4 billion) project that aims to transform the Indian Ocean island into a regional trading hub by allowing a new, bigger generation of cargo vessels to dock. The project will enable the port to double its current capacity by accepting mega-cargo ships that hold as many ... Read More »

KCCI delegation calls on President-Elect Mamnoon Hussain

kccisdel_presidentofpakistanelect1

KARACHI: Karachi Chamber of Commerce & Industry’s ‘BMGians’ delegation headed by Chairman Businessmen Group Siraj Kassam Teli accompanied by Vice Chairmen Businessmen Group Tahir Khaliq, Haroon Farooki, Anjum Nisar, President KCCI Haroon Agar, Senior Vice President Shamim Firpo, Vice President Nasir Mehmood and others met with President-Elect, Islamic Republic of Pakistan, Mamnoon Hussain at Karachi. Siraj Kassam Teli, Chairman Businessmen ... Read More »

FBR committee to redress problems of importers, clearing agents

FBR1

KARACHI: Federal Board of Revenue (FBR) has decided to form a committee in collaboration with the Customs Department and other stakeholders including clearing agents and industrialists in order to facilitate the importers and clearing and forwarding agents and to take steps to curb the corruption in the department. Sources in the Customs Department told Customs Today that a 15-member committee ... Read More »

Agar backs institutional arbitration mechanisms to resolve trade disputes

haroon Agar

KARACHI: Karachi Chamber of Commerce & Industry (KCCI) President Muhammad Haroon Agar has stated that the trust deficit between the friendly countries and Pakistan can be bridged while introducing institutional arbitration mechanisms between the Chambers of Commerce in Pakistan and their international counterparts. Exchanging views with Imran Khan, Solicitor from Lewis Hymanson Small Solicitors, Manchester, during his visit to KCCI, ... Read More »

Shipping activity at Karachi Port & Port Qasim

KICT1271

Karachi: At least three ships berthed at Karachi port including BBC maple IOTTA, MOL Solution and WO Long Song, while another five are expected to reach during next 24 hours. The ships expected to arrive were Hong Prosperity, MOL Direction, Al Shroog, and APL Sharjah. The shipping movement indicated that following vessels about to leave for next destinations include Ever ... Read More »

Port Qasim to have 100,000 barrels Trans Asia Oil Refinery

port qasim

KARACHI: Trans Asia Refinery Ltd (TRL), located at Port Qasim, has declared its “total commitment” to building the most complex refinery in Pakistan, producing more than 100,000 barrels a day and 4 million tonnes of petroleum products every year. In a major boost to the country’s economy, TRL signaled the end of previous delays with an undertaking that “the investors ... Read More »

Chief collectors regain powers of transfers and postings of BS-16, below

FBR1

KARACHI: Federal Board of Revenue (FBR) has once again decided to delegate the powers of transfers and postings of BS-16 officials including Appraisers, Principal Appraisers (PAs), Senior Preventive Officers and Preventive Officers of Customs Department to the chief collectors. It is pertinent to mention here that FBR had previously issued orders in this regard some time ago, in which it ... Read More »

APCAA appeals Customs high-ups to keep offices open till 10pm

Customs ‘work to rule’ affects industry

KARACHI: Senior Vice President of All Pakistan Customs Agent Association (APCCA) Arshad Jamal has appealed to Customs high-ups to keep the offices of Customs Department open till 10pm during the last 3 days of Ramzan, so that the clearance process could be accomplished. In a statement, Jamal also hailed the decision of Member Customs Nisar Muhammad Khan and Chief Collector ... Read More »

Mamnoon Hussain is pride of businessmen: Siraj Kassam Teli

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Karachi: Business community is proud of having Mamnoon Hussain as the President elect of Pakistan, said Siraj Kassam Teli, Chairman Businessmen Group and Former President Karachi Chamber of Commerce & Industry (KCCI). A delegation of business community comprised of eminent businessmen and industrialists from Karachi led by Siraj Qasim Teli received the President Mamnoon Hussain at Karachi Airport. Siraj Teli ... Read More »

Supreme Council of Transporters puts several demands before govt

transporters

KARACHI: Supreme Council of All Pakistan Transporters demanded of the government to withdraw recent increase in POL prices, take back increase in Value Added Tax (VAT) by 600 percent and order the FBR and Excise and Taxation Department to charge the same amount of tax from the transporters which remained imposed from July, 2011 to April, 2013. It further demanded ... Read More »

FBR notifies 8 transfers & postings

transfers

KARACHI: Soon after the visit of Member Customs, Nisar Muhammad Khan to Customs House, Karachi, Federal Board of Revenue (FBR) notified transfers/postings of the five officials of (BS-19, 20) in Inland Revenue Services (IRS) and three officials of (BS-16) in Customs Department with immediate effect. According to the details, Mustafa Sajjad Hassan (Inland Revenue Service/BS-20) transferred and posted as Commissioner ... Read More »

DP WORLD handles 26.6 m TEUs globally during first half 2013

DP-World-1-e1314530373762

KARACHI: Leading marine terminal operator DP World Limited said that it handled 26.6 million TEU across its global portfolio in the first half of 2013, recording a drop of 5.8 percent as compared to the same period last year. “When adjusted for changes across the portfolio, the decline in throughput was 2.1 percent on a like for like basis. However, ... Read More »

APTMA chairman rebuffs 70% increase in electricity tariff

Electricity-rates-increase-480x238

KARACHI: Muhammad Yasin Siddik, Chairman All Pakistan Textile Mills Association (APTMA), Sindh-Balochistan Region strongly criticised announcement of increase in electricity prices up to 70% by the government and urged to withdraw the rise in electricity tariff. He said that 10-15 % increase in tariff was understandable but 70% increase is totally unrealistic. The Chairman APTMA Sindh-Balochistan Region said that the ... Read More »

MCC Export decides to settle down all pending rebate claims

Customs House

KARACHI: Model Customs Collectorate (MCC) Exports has decided to settle down all pending rebate claims within stipulated time frame and to rationalise the Statutory Regulatory Order (SRO). A senior official in MCC Export on condition of anonymity told Customs Today that Member Customs Nisar Muhammad Khan during his current visit to Customs House, Karachi had directed the officials concerned in ... Read More »

Efficient ports are lifeline of economy: Capt. Haleem Siddiqui

Captain (R) Haleem Siddiqui

KARACHI: The efficient ports are the lifeline of the economy by virtue of their key role for the promotion of trade and industry and thus contributing significantly in growth of economies around the world, said Capt. Haleem A. Siddiqui, Chairman Marine Group of Companies, in an exclusive interview with Customs Today. Capt. Haleem A. Siddiqui who is always confident about economic ... Read More »

Speed up revenue collection, Member Customs tells officials

Member Customs Nisar

KARACHI: Member Customs Nisar Muhammad Khan continued to convene meetings of the Customs officials on the second consecutive day at the Customs House on Friday. According to the details, Khan convened the meetings with the officials of Model Customs Collectorate (MCC) Preventive, MCC Export and Transit Trade officials. Collectors, Deputy Collectors, Additional Deputy Collectors, Director General Transit Trade and other ... Read More »

China Focus Cell established at TDAP to enhance trade ties

Pak-China

The establishment of “China Focus Cell” at Trade Development Authority of Pakistan (TDAP) dedicated to enhancing trade relations between China and Pakistan seems a strategic change of external trade focus from West to East. It is important to note that the Prime Minister of Pakistan’s recent visit to China has given a new impetus to Pak-China Economic Cooperation which will ... Read More »