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Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Hyderabad I&I seizes smuggled goods worth Rs34.450m: Director Sadiqullah Khan

Sadiqullah

HYDERABAD: The Directorate Customs Intelligence & Investigation impounded smuggled items including vehicles, diesel (HSD), contraband items, gutka, betel nuts, two consignments of foreign origin tiles, foreign origin 10 truck tyers, medicine, other goods worth Rs34,450,483 including duty and taxes during different operations in second week of May 2019. The I&I team, following instructions of Hyderabad Customs Director Sadiqullah Khan, conducted ... Read More »

Rupee slides further to Rs150 against USD; stock market down 2.4pc in intra-day trade

stocks Pakistan stocks

KARACHI: The rupee continued to fall to record lows on Friday, after the government agreed in principle to a $6 billion loan from the International Monetary Fund (IMF). The rupee, which lost 3.6 per cent on Thursday to close at 146.2 against the US dollar in the interbank market, dropped further on Friday, dealers said, selling at Rs149.50 in the ... Read More »

Rupee hits all-time low of 148.5 against US dollar in inter-bank market

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KARACHI: The rupee dropped to an all-time low of 148.50 to the US dollar in the inter-bank market on Thursday. It weakened by over five per cent, or Rs7.10, from Wednesday close of 141.4 in early hours of trade at the inter-bank. Currency dealers are selling dollar at Rs148 and buying at Rs145, a Karachi based dealer said. The drop in rupee comes a ... Read More »

Federal Cabinet approves tax amnesty scheme

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ISLAMABAD: Prime Minister Imran Khan is chairing the Federal Cabinet meeting on Tuesday during which the tax amnesty scheme has been approved. According to sources, the amnesty scheme recommends the following: 5 per cent tax on individuals declaring assets by June 30, 2019 10 per cent tax on individuals declaring assets by September 30, 2019 20 per cent tax on ... Read More »

NAB’s awareness, prevention & enforcement policy remains successful

NAB PIC

ISLAMABAD: Honorable Justice Mr. Javed Iqbal, Chairman NAB reviewed latest progress on NAB’s Awareness, Prevention and Enforcement policy on ”OUR FAITH-CORRUPTION FREE PAKISTAN” at NAB headquarters. The Chairman NAB said that NAB is mandated to carry out Awareness and Prevention functions against corruption in pursuance of Section 33C of National Accountability Ordinance (NAO). He said that NAB’s awareness, prevention and ... Read More »

Syed Shabbar Zaidi appointed honorary chairman of FBR for 2 years

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ISLAMABAD: The PTI government has appointed Syed Shabbar Zaidi as honorary chairman of the FBR and notification has been issued in this regard. Shabbar Zaidi has been appointed honorary FBR Chairman for two years. As an honorary chairman, he will have full authority and powers but he will work without any salary or privileges. Customs Today yet again broke the news of ... Read More »

‘NAB committed to work transparently for a 100% corruption-free Pakistan’

NAB Chairman

ISLAMABAD: Honorable Justice Mr. Javed Iqbal, Chairman NAB chaired a meeting to review overall performance of NAB at NAB Headquarters. He said that NAB is absolutely committed to work transparently, fairly, professionally and on merit for a 100% corruption free Pakistan in accordance with law. He said that corruption is major hurdle in the way of progress and prosperity of the ... Read More »

FIA summons Port Qasim Authority officer, Asad Chandna role in demurrage mega scam case under question

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KARACHI: The Federal Investigation Agency (FIA) has taken up the issue of illegal demurrage and detention charges taken from importers by terminal operator in connivance with Port Qasim Authority. FIA has summoned PQA officer on 7 May, 2019, to ascertain his role in mega demurrage and detention scam case. According to details, Federal Investigation Agency (FIA) Corporate Crime Circle Karachi ... Read More »

Shabbar Zaidi nominated for FBR Chairman’s slot

shabbar-zaidi

ISLAMABAD: The PTI government has nominated Syed Shabbar Zaidi as FBR chairman. Sources confirmed it unofficially as notification of his appointment is not yet issued. Customs Today yet again broke the news of FBR Chairman’s nomination. Earlier, Ahmed Mujtaba was nominated for the slot but his notification was withheld at last time and the matter was sent to a parliamentary ... Read More »

Committee to review 3 names including Mujtaba Memon for FBR Chairman

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ISLAMABAD: The government has withheld the notification of Ahmed Mujtaba Memon’s appointment as the Federal Board of Revenue (FBR) chairman and his case will now be reviewed by a ministerial committee. The sources said a ministerial committee will look into the case now. It will review the names of three candidates. Javed Ghani — a grade-22 officer currently serving as ... Read More »

OGDCL scraps $5,600,000 worth contract for hiring of rigs after Customs Today coverage

OGDCL

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has now scrapped USD $5,600,000 worth contract which was earlier awarded to a Chinese company – CNPC (Chuanqinq Drilling Engineering Company Ltd.) – for hiring of rigs allegedly in violation of PPRA rules, said sources. Customs Today raised this issue and reported that the contract worth USD $5,600,000 was awarded to CNPC ... Read More »

NAB Chairman’s “accountability for all” policy gets full support of nation

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  LAHORE: NAB under the dynamic leadership of Honorable Justice (retired) Javed Iqbal, Chairman NAB is absolutely committed to root out corruption from country with iron hands with the realization of through professionalism, transparency and on merit as per law. Today, eradication of corruption and logical conclusion of mega corruption cases is the top most policy of NAB. NAB strongly ... Read More »

Govt appoints Reza Baqir as new SBP governor

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ISLAMABAD: The federal government on Saturday appointed Dr Reza Baqir – a Pakistani economist working for the International Monetary Fund (IMF) – as the governor of the State Bank of Pakistan, as Islamabad seeks to finalise a bailout package from the global lender. A Harvard and Berkeley university alumnus, Dr Baqir has been with the IMF since 2000 and is ... Read More »

FBR Chairman, Governor SBP removed from their posts

FBR chairman Jahanzeb

ISLAMABAD: In a big development, the PTI government has removed FBR Chairman Jahanzaib Khan and Governor State Bank of Pakistan Tariq Bajwa. Sources said finally the government has decided to bring the major changes in two important institutions and decided to remove the Chairman Federal Board of Revenue Jahanzaib Khan and Governor State Bank of Pakistan Tariq Bajwa. Sources said the ... Read More »

Tausif Qureshi distributes certificates among participants of course organized DGTR

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FAISALABAD: Directorate General of Training (Customs) conducted a training course on the topic of smuggling. The participants of the training course comprise BS-16-18 officials of Customs Lahore, Sialkot, Faisalabad and Multan, and Customs Intelligence Lahore. Federal Board of Revenue ex-member Tausif Ahmad Qureshi, was the resource person. He elaborated the concept, phenomenon and methods of smuggling which manifests in flow of ... Read More »

FIA proceeds on KICT demurrage scam case

KICT cartoon

KARACHI: The Federal Investigation Agency (FIA) has taken up the issue of illegal demurrage and detention charges taken from importers by the KICT. According to details, Federal Investigation Agency (FIA) Corporate Crime Circle Karachi has launched the enquiry of issue of blackmailing and cheating by the KICT by issuing Letter# FIA/CCC/K/ENQ-92/2018/2661-62 and Letter# FIA/CCC/K/ENQ-92/2018/2990-91 in this regard. At least 30 ... Read More »

Two fraud accused appointed National Bank of Pakistan directors

NBP

LAHORE: In a shocking development, the government has appointed two directors to the board of the National Bank of Pakistan (NBP), who are allegedly facing trials for fraud of billions of rupees. Reportedly, Imam Bakhsh Baloch, who has been appointed as director of the National Bank of Pakistan board by the government, is allegedly facing a whooping Rs2.5b fraud in ... Read More »

Customs Intelligence Lahore transfers 8 officials

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LAHORE: Directorate of Customs Intelligence and Investigation Lahore transferred 8 officials with immediate effect. The officials include principal appraiser Amjad Akhtar Bukhari, appraiser Saqin Nazir Khan, appraiser Muhammad Ijaz Cheema, inspector Amjad Khan, intelligence officers Khawaja Zia, Muhammad Sohail Murtaza, Hina Fayyaz and KPO Bilal Ahmad Khan.   Read More »

Govt should stop Maersk, QICT from taking extra demurrage, detention charges: Advocate Mohib

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PESHAWAR: Government should stop M/s Maersk Pakistan Pvt Ltd and Qasim International Containers Terminal from taking extra demurrage and detention charges to clear legally imported consignments. Maersk Pakistan and QICT violated SRO 1220 and section 14A of Customs Acts 1969 by taking extra demurrage and detention charges other than collecting applied duty and taxes. Advocate Mohib Kaka Kheil associated with ... Read More »

OGDCL allegedly awards purchase order to a Chinese company without publishing tender, pre-qualifying companies

OGDCL

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has awarded USD $5,600,000 worth contract to a Chinese company CNPC (Chuanqinq Drilling Engineering Company Ltd.) for hiring of rigs allegedly in violation of PPRA rules, said sources. Surprisingly, recently OGDCL top management has been appearing in National Accountability Bureau (NAB) to clear their position in various inquiries/investigations initiated by corruption watchdog ... Read More »