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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

PSX sheds 232pts as investors remain sceptical on ‘Budget Day’

kse 11

KARACHI: The Pakistan Stock Exchange Friday closed negative after shedding 232.14 points to reach 52636.87 points level over the sceptical investors’ careful trading on ‘Budget Day’. The stocks recorded the highest trading level of 52874.63 points and lowest level of 52455.44 points, with the volume of about 432 million shares and value of Rs20.73 billion. As many as 392 companies ... Read More »

Pakistan Economic Survey 2016-17

Economic Survey

  Unveiled by Finance Minister Ishaq Dar, Pakistan Economic Survey for the year 2016-17 shows the government has missed some vital economic targets but growth has finally returned to the country after years of recession and the total volume of the gross domestic product has crossed $300 billion. The overall economic growth of the country has been recorded at 5.28 ... Read More »

Customs Enforcement files FIR against Zubair Gheewala for availing undue tax exemptions under FTA


KARACHI: The Customs Enforcement and the Directorate General of Intelligence and Investigation have alleged that Muhammad Zubair Gheewala deliberately filed mis-declaration to avail tax exemptions under FTA regulations. The First Information Report has been filed by the complainant, Fakhar Ali Shah, Appraising Officer at the Customs Enforcement. The FIR shows that the accused, from November 2014 to April 2017, filed ... Read More »

Dar presents Economic Survey 2016-17, decade’s highest growth of 5.3% achieved


ISLAMABAD: Federal Minister for Finance Ishaq Dar, Thursday, launched ‘The Economic Survey of Pakistan’ for the outgoing fiscal year (2016-17). Economic Survey is the pre-budget document highlighting the overall performance of economy during the outgoing fiscal year. The survey claimed that despite several internal and external challenges, Gross Domestic Product (GDP) growth recorded decade’s highest at 5.3% during the fiscal ... Read More »

ANF recovers 1kg heroin from passenger at Benazir airport


ISLAMABAD: The Anti-Narcotics Force (ANF) has recovered one kilogramme of heroin from a passenger at the Benazir Bhutto International Airport. ANF officials said that passenger, Irfan Masih, was to board an Airblue flight destined for Abu Dhabi on Thursday night when the drug was recovered from his handbag during checking at the immigration counter. Masih, a resident of Nankana Sahib, ... Read More »

FBR restricts information systems usage during budget exercise


ISLAMABAD: Federal Board of Revenue has issued directions on information systems usage during federal budget 2017-18, which will be announced on May 26. The notification, issued on Wednesday, said that due to budge announcement on 26, restrictions on the access of servers/information systems running at FBR (HQ) will come in force from 4:00pm May 25 till the end of budget ... Read More »

Stocks gains mammoth 740pts in early trading


KARACHI: The Pakistan Stock Exchange Wednesday gained mammoth 740 points in early trading to reach 52,887 points level. On Tuesday, the PSX continued its bullish momentum on second consecutive day with strong upward movement in most MSCI-EM stocks. The benchmark 100-share index closed at 52,147 points after rallying by 773.46 points or 1.57 percent. Banking sector led the gains in ... Read More »

FBR announces office timings during Ramazan


KARACHI: The Federal Board of Revenue (FBR) through a notification has announced office timings for all field formation collectorates, directorates and its other offices during the holy month of Ramazan. According to the notification issued by the FBR, the timings of those field formation collectorates, directorates and other related offices of the FBR, which have been directed to observe 5 ... Read More »

Customs gears up surveillance, strict checking at airports across country


KARACHI: Pakistan Customs has beefed up surveillance and checking of passengers at all airports across the country. Sources told Customs Today that surveillance and checking of the passengers at all airports was enhanced after 20 kilogramme heroin recovered from a Pakistan International Airline plane (flight No PK785) in London. Sources said , along with other airports of the country, the ... Read More »

We are focusing on trade based money laundering & other trafficking: DG Shaukat Ali

Shaukat Ali

ISLAMABAD: Director General Customs Intelligence and Investigation Shaukat Ali said we are focusing on anti-money laundering operations, especially on trade based money laundering, and trying to stop all the possible ways of trafficking including smuggling. We are providing training to our officers as to how to investigate the anti-money laundering cases. Talking with Customs Today, he said we have almost ... Read More »

20kg heroin seized from London-bound PIA flight


RAWALPINDI: The Airport Security Force (ASF) along with the Anti-Narcotics Force (ANF) seized at least 20kg heroin from a Pakistan International Airlines flight at Islamabad airport on Monday. The officials from both the forces seized 20kg heroin from PIA flight PK-785 from Islamabad to London. Due to the search operation the flight was delayed for several hours. The ASF and ... Read More »

Multan Customs collects Rs3162.038m during first 20 days of May

Multan Customs collects Rs3162 038m during first 20 days of May copy

MULTAN: The Customs Collectorate has collected Rs3162.038 millions revenue during the first twenty days of May during the on-going fiscal year 2016-17. Sources told Customs Today that the Collectorate of Multan Customs collected Rs772.203 million under the head of customs duty from 1st May to 20th May. On the other side, Federal Board of Revenue has allotted customs duty revenue ... Read More »

PCA recovers evaded amount from Pakistan Int’l Bulk Containers Terminal

Gul Rehman

KARACHI: Directorate General of Post Clearance Audit (PCA) recovered Rs 1.5 million from Pakistan International Bulk Containers Terminal. Sources told Customs Today that Director General Customs Post Clearance Audit Gul Rehman directed Deputy Director Iqbal Ahmed to scrutinize the clearance documents of Pakistan International Bulk Containers Terminal. During scrutiny of the documents, it was revealed that Pakistan International Bulk Containers ... Read More »

Budget Proposals 2017-18: Govt urged to remove Customs duty on polyester import


ISLAMABAD: The textile industry has demanded withdrawal of 7 percent customs duty on import of polyester in order to regain market share. In the budget proposals for 2017/2018, the industry representatives said that there is 7 percent customs duty on import of polyester in addition to around 10 percent anti-dumping duty. World trade is rapidly shifting to man-made fiber from ... Read More »

3 meetings scheduled for May 23 to fix Customs values of several items


KARACHI: With the aim to determine customs values of several items, the Directorate General of Customs Valuation has scheduled three meetings with the stakeholders, including importers, traders and industry representatives. According to the schedule from May 23, three meetings would be held with the representatives of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Karachi Chamber of Commerce & ... Read More »

Collector Preventive Junejo to address on “Supply and Abuse of Drugs” today

Saifullah Junejo

KARACHI: Collector of Customs Collectorate Preventive Dr Saifuddin Junejo will address the participants of a meeting as Guest of Honor on Supply and Abuse of Drugs on Monday. The event was organized by Anti-Narcotics Force (ANF) at Sadequain Gallery, Ferer Hall, on Monday. The collector would address the gathering on how to control production, supply and abuse of drugs. During ... Read More »

DG Valuation Suraiya Butt disposes of revision petition of M/s Time Trading Company


KARACHI: Director General of Customs Valuation Suraiya Ahmed Butt issues Order in Revision No. 342/2017 under section 25-D of the Customs Act, 1969 in compliance of Lahore High Court in ICA No 241/2015 and W.P No 30801/2014 filed by M/s Time Trading Company, and M/s Zain International, Lahore. According to the details, M/s Time Trading Company Lahore had filed a ... Read More »

State Warehouse at Islamabad Airport earns Rs 3.976m through auction of seized goods: Ali Asad


ISLAMABAD: The State Warehouse at Islamabad Airport earned Rs 3.976 million through open public auction of various confiscated goods presented at Air Freight Unit (AFU) building on May 18. Talking to Customs Today during an exclusive interview, Assistant Collector Ali Asad said that under supervision of Collector Model Customs Collectorate (MCC) Islamabad Dr. Arslan, the Customs State Warehouse Islamabad has ... Read More »

Authorities detect cases of mis-declarations on advice of Port Qasim Collector Saeed Akram


KARACHI: Collector Port Qasim Saeed Akram has directed Additional Collectors Khalil Yousfani and Yaseen Murtaza to keep strict vigilance to check mis-declaration and under-invoicing. Deputy Collectors Amjad Rajpar and Mohammad Adnan are advised to examine consignments prone to under-invoicing and mis-declaration. Sources told Customs Today that as a result of this synergized practice, R&D Port Qasim Deputy Collector Ahsanullah Shah, ... Read More »

Under training personnel should focus on customs laws: Director Training Zeba Azhar


KARACHI: All the under training personnel should learn local and international Customs laws to successfully carry out their duties in the Customs Department. Zeba Azhar, Director Training, Directorate General of Training and Research (Customs), Karachi, said this while addressing the newly recruited appraising, valuation, preventive officers, inspectors, sepoys and intelligence officers, during one of the training sessions. She said that ... Read More »