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PSX gains 340pts to close at 49354pts level


KARACHI: The Pakistan Stock Exchange Friday witnessed a bullish day and gained 340.10 points to close at 49353.92 points level. The stocks recorded the highest trading level of 49464.06 points and lowest level of 49013.82 points, with the volume of over 459 million shares and value of Rs 23 billion. As many as 410 companies were active; of which 244 ... Read More »

DG Customs I&I Shaukat Ali directs officers for better results during 2017


KARACHI: Director General of Customs Intelligence and Investigation (I&I) Shaukat Ali has asked the officers for better result during the current year. According to the sources in the Directorate General of Customs Intelligence and Investigation (I&I), Director General Shaukat Ali has asked the officers for the result oriented and effective raids across the country as well for boosting the revenue ... Read More »

Dr Irshad made acting chairman of FBR

Dr Irshad

ISLAMABAD: Dr Muhammad Irshad, a BS-22 officer of Inland Revenue Service, Thursday assumed the look-after charge of the post of FBR chairman. The officer, in pursuance of Board’s Notification No. 0209-IR-I/2017, dated 18.01.2017, took the look-after charge of the post at FBR headquarters, Islamabad. Federal Finance Minister Ishaq Dar has assigned the charge of acting chairman of FBR to Dr ... Read More »

Customs foils bid to smuggle 1,055g gold worth Rs 4.3m at Torkham border

Pakistan Customs, gold

PESHAWAR: The Customs authorities at Torkham border have foiled an attempt to smuggle gold jewellery to Afghanistan. The Customs officials seized 1,055g gold jewellery worth Rs 4.3 million and arrested the accused, an Afghan National. An FIR has been lodged for criminal proceedings against the accused. Pakistan Customs is the guardian of economic frontiers of the country generating revenue and ... Read More »

13 Customs officers posted as Assistant Collectors


ISLAMABAD: Thirteen Pakistan Customs Service officers of BS-17 have been posted as Assistant Collectors to different Collectorates with immediate effect. The officers posted as Assistant Collectors (Probationers) of 43rd Common Training Programme (CTP) on completion of Specialised Training at the Directorate General of Training & Research (Customs), Karachi. The officers have been directed to relinquish/assume charge, using online HRMS facility ... Read More »

Salim posted as Accountant Member in Lahore Appellate Tribunal-IR


ISLAMABAD: The services of Salim Raza Asif, a BS-21 officer of Inland Revenue Service, have been placed at the disposal of Law and Justice Division, Islamabad, as Accountant Member in the Appellate Tribunal-IR, Bench-I, Lahore on deputation basis with immediate effect. The officer, presently posted as Director General, Directorate General of Law, Islamabad, posted at new place in pursuance of ... Read More »

PM Nawaz gives approval for new FBR chairman: name to be finalised today


ISLAMABAD: Prime Minister Nawaz Sharif has granted his approval for new chairman of the Federal Board of Revenue (FBR) before his departure to Davos, Switzerland, to attend the World Economic Forum. The government may announce the name of new FBR chief today as Nisar Muhammad Khan, the outgoing chairman, is retiring on January 18 According to sources, the post of ... Read More »

FBR bears Rs70-80b revenue shortfall due to stablization of PoL prices


ISLAMABAD: The Federal Board of Revenue (FBR) has met revenue shortfall up to Rs 70 to 80 billion since last December due to the government’s act of not increasing the prices of petroleum prices in the local market despite the surge in PoL prices in international markets. There was Rs14.70 sales tax on per liter petrol in 2013 which has ... Read More »

DG Valuation issues reference values for foley balloon catheter


KARACHI: Directorate General of Customs Valuation has issued the reference values for foley balloon catheter, 2way. According to the details, Directorate General has initiated an exercise to develop database values for different items wherein it has been observed that declarations are of wide range and do not correctly reflect values of the items as traded in the international market. During ... Read More »

SHC directs M/s Farooq Corp to pay all evaded duties, taxes, fines assessed by collector


KARACHI: The Sindh High Court (SHC) has directed M/s Farooq Corporation to pay all duties, taxes and fines assessed by Collector of the Customs Appraisement West and the authorities will release its consignment. A two-member bench, headed by Justice Syed Hassan Azhar Rizvi, was hearing the constitutional petition filed by M/s Farooq Corporation, challenging a show cause notice issued by ... Read More »

Post Clearance Audit moves SC against LHC decision

supreme court

ISLAMABAD: The Directorate General Post Clearance Audit has filed a petition before the Supreme Court against the decision of the Lahore High Court in favour of M/s JP Construction and Trading Company. The Directorate Post Clearance has raised the law points in terms of questions before the Supreme Court as to whether the impugned order of the learned Single Judge ... Read More »

Dr Irshad congratulates 53 newly-promoted Assist Commissioners

Member IRshad 1

ISLAMABAD: Member (Inland Revenue-Operations) Dr Muhammad Irshad has congratulated 53 Inland Revenue Service officers on their promotion to the post of Assistant Commissioners (BS-17). “Best of luck for your new position along with sincere wishes for further success in life,” Dr Irshad tells the newly-promoted officers in a message issued by the Federal Board of Revenue. Read More »

ICT administration for changing FBR-fixed land value in rural areas

property ttax

ISLAMABAD: Islamabad Capital Territory (ICT) administration has forwarded a summary to interior ministry seeking its recommendations to change property law or approve fix value of land in rural belt of the city to bring these areas under tax net. The sources in the Deputy Commissioner Office said it had been practice in urban belt of the city that minimum value ... Read More »

Scuffle at Lahore airport as passenger refuses to pay duty


LAHORE: A scuffle between a passenger and Customs officials erupted at Allama Iqbal International Airport in the wee hours of Tuesday. According to sources, the exchange of harsh words turned into a brawl when a passenger, Zubair Hussain, refused to pay duty on electronic items present in his luggage. The Customs officials claimed that the passenger misbehaved with the authority ... Read More »

Peshawar Customs Intelligence seizes smuggled goods worth Rs 31m


PESHAWAR: Customs Intelligence seized a huge quantity of smuggled goods worth millions of rupees and arrested a smuggler from the provincial capital of Khyber Pakhtunkhwa. Peshawar Customs Directorate of Intelligence and Investigation with the help of local police seized the container along with the long body container carrying smuggled goods, a Customs Intelligence press release said here on Friday. The ... Read More »

Member (Training) Rukhsana takes additional charge of Lahore T&R DG

RTO-II chief  Commissioner Rukhsana Yaseem

ISLAMABAD: Rukhsana Yasmin, a BS-22 officer of Inland Revenue Service, has assumed the additional charge of the post of Director General, Directorate General of Training & Research (Inland Revenue), Lahore. The officer, presently posted as Member (Training) at Federal Board of Revenue (HQ), took the additional charge of the said post with effect from December 27 in pursuance of Board’s ... Read More »

6 Inland Revenue officers promoted as Assist Commissioner

Promotion 2

ISLAMABAD: The Federal Board of Revenue has promoted six Inland Revenue Service officers of BS-16 as Assistant Commissioner (BS-17) on regular basis with immediate effect. According to a notification issued by Secretary (Mgt-IR-IV) Amir Rehman, the promotions will take effect from the date of their joining, subject to the condition that no disciplinary proceedings are pending against them. The officers, ... Read More »

Customs Intelligence to auction confiscated vehicles on Jan 12


ISLAMABAD: Customs’ Directorate General of Intelligence and Investigation has announced to hold public auction of confiscated vehicles and other goods. The auction would be held at State Warehouse, located at Kashmir Highway, Islamabad on January 12. The confiscated vehicles, which would be auctioned include: Read More »

FIA unearths 7 illegal gateway exchanges in Mianwali


LAHORE: A Federal Investigation Authority (FIA) team has unearthed seven illegal gateway exchanges of 96 ports and arrested two persons. According to FIA spokesman, the team conducted a raid in Mohalla Mustafaabad near Railway Lines, Piplaan, District Mianwali and recovered seven illegal gateway exchanges with four laptops, router, antennas, about 200 different cellular company SIMs and other relevant apparatus. The ... Read More »

Senate body approves Benami Transactions (Prohibition) Bill


ISLAMABAD: Senate Standing Committee on Finance, Economic Affairs, Statistics and Privatisation on Thursday approved the Benami Transactions (Prohibition) Bill, 2016. The committee meeting held under chairmanship of Senator Saleem Mandviwala at Parliament House here. The committee discussed the Benami Transactions (Prohibition) Bill, 2016 clause to clause and after completing the process, the committee gave approval of Benami Transactions (Prohibition) Bill, ... Read More »