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PSX bounces back with 151pts


KARACHI: The Pakistan Stock Exchange (PSX) Thursday closed positive  as the benchmark KSE-100 index gained 150.52 points to take the tally to 40813.31. A total of 96.70 million shares worth Rs5 billion were traded on the exchange. Of the 336 traded scrips, 149 advanced, 159 declined and 28 remained unchanged. Azgard Nine was the volume leader with 13.54 million shares, ... Read More »

Hyderabad Customs collects Rs788.471m revenue during 15 days of November

Akhlaq Ahmed Khatak

HYDERABAD: The Customs Collectorate has collected Rs788.471 million revenue during the first fifteen days of current month against the assigned target of Rs1682.970 million during the month of November 2017-18. According to details Hyderabad and Sukkur division has collected customs duty Rs.210.844 million (CD) sales tax (ST) Rs 567.168 million income tax (IT) Rs.10.209, million FED Rs0.250 during the first ... Read More »

Lahore Customs Intelligence seizes 20,000 smuggled Q Mobiles

Rubab Sikandar

LAHORE: Directorate General of Customs Intelligence and Investigation has impounded  over Rs 33 million mobile phones (mostly Q Mobile) and their accessories. On information Director Rubab Sikandar lead the crackdown in Lahore in anti-smuggling campaign. This is the fourth incident wherein another approximately 20,000 smuggled mobile phones (Q Mobile) have been seized. It may be recalled that MCC Preventive Karachi ... Read More »

Customs Intelligence deepens investigation in Q-Mobile smuggling case

Samina-Tasleem-Zehra-Article-6 - Copy

KARACHI: The Customs Intelligence and Investigation (I&I) has deepened the investigations against M/s Digicom Company (Q-Mobile) after thousands of cellular phone smuggling case surfaced. According to the source, Director of the Directorate General of Customs Intelligence and Investigation (I&I) Karachi Sameena Tasleem Zehra has directed the team pursuing the case against the smuggling of several thousands cellular phones to be ... Read More »

North Region again stays superior by generating Rs2557m during four months

Sarwat Tahira (4)

ISLAMABAD: The Customs North Region surpassed the allocated revenue collection target with Rs2557million against the assigned revenue target for the first four months of Financial Year 2017-18 under all the heads. The North Region was earmarked the revenue collection target of Rs10914.32million while it earned Rs13471million during above said period. Chief Collector Sarwat Tahira Habid informed Customs Today that she ... Read More »

PSX closes negative after technical glitches mar trading

kse 11

KARACHI: The Pakistan Stock Exchange (PSX) on Monday landed in the red after experiencing a volatile session, with the benchmark KSE-100 index plunging 33 points to close at 41,031. The market touched a day’s low of 40,928 points during the first hour of the session; it hit a day’s high of 41,232 points in intraday trading. “The market witnessed yet ... Read More »

Customs Preventive foils money laundering at JIAP


  KARACHI: The Pakistan Customs Preventive has foiled a bid to smuggle huge quantity of foreign currency worth millions of rupees during a raid at Jinnah International Airport (JIAP) Karachi. According to the details, on the tip of higher authority the staff beefed up the security and surveillance at the departure of Jinnah International Airport (JIAP) Karachi to nab the culprit involve ... Read More »

Customs value of buttons to be determined on Nov 6


KARACHI: With the aim to determine customs value of buttons, the Directorate General of Customs Valuation has scheduled a meeting with the stakeholders, including importers, traders and industry representatives. According to the schedule on Monday (November 6), the meeting would be held with the representatives of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Karachi Chamber of Commerce & ... Read More »

PSX recoups mammoth 836pts to reach 40454 level

KSE bull 1

KARACHI: The Pakistan Stock Exchange (PSX) Wednesday bounced back with huge 836.45 points to reach 40453.64 level. The stocks recorded the highest trading level of 40558.97 points and lowest level of 39617.19 points, with the volume of 116.69 million shares and value of Rs6.90 billion. As many as 363 companies were active; of which 248 advanced, 101 declined and 14 ... Read More »

FBR seizes Rahat Fateh Ali Khan’s bank accounts over tax evasion

Rahat Fateh Ali Khan

LAHORE: The Federal Board of Revenue (FBR) has seized bank accounts of famed Pakistani singer Rahat Fateh Ali Khan over alleged tax evasion. According to FBR, non-payment of income tax worth more than Rs3 million in 2015 led the Federal Board of Revenue to seize the singer’s available bank accounts in the country. The FBR traced the bank accounts through ... Read More »

FBR collects Rs1,024b in July-Oct, faces Rs47b shortfall


ISLAMABAD: The Federal Board of Revenue (FBR) is facing Rs47 billion shortfall in tax collection during first four months (July-October) of the current financial year. The FBR has provisionally collected Rs1,024 billion during July-October period of the year 2017-18 as against the target of Rs1,071 billion. The top revenue authority of the country has collected Rs259 billion during October. The ... Read More »

Quetta Customs impounds Iranian diesel valued at Rs24.869m during four months

Quetta Customs impounds Iranian diesel valued at Rs24 869m during four months

ISLAMABAD: The Model Customs Collectorate Quetta seized Iranian diesel worth Rs24.869million during the first four months (July to October) Financial Year 2017-18. The vehicles, carrying smuggling diesel, are rarely intercepted in Hyderabad by the customs authority. Member Customs Zahid Khokhar, on the direction of Tariq Pasha, Chairman Federal Board of Revenue (FBR), has directed the Quetta Collectorate to take effective ... Read More »

All LTUs, RTOs to observe extended working hours today


ISLAMABAD: All the Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) will remain open and observe extended working hours till 12 midnight on Tuesday (today) to facilitate taxpayers in submission of their returns and payment of duties & taxes as well. In an office order, the FBR directed all the Chief Commissioners to establish lesion with State Bank of ... Read More »

Bailable arrest warrants issued for Dar in NAB reference

Ishaq Dar

ISLAMABAD: An accountability court issued bailable arrest warrants for Finance Minister Ishaq Dar for failing to appear before the court in connection with a National Accountability Bureau (NAB)’s reference pertaining to assets beyond means. Judge Muhammad Bashir, while dismissing Dar’s exemption application, issued warrants and directed him to appear before the court on November 2. The court also issued notice ... Read More »

NAB, FBR arrest NTS chief in leaked test papers case


ISLAMABAD: The National Accountability Bureau (NAB), along with Federal Board of Revenue (FBR) officials, raided two offices of the National Testing Service (NTS) in Islamabad on Monday and arrested its CEO Air Commodore (r) Dr Sherzada Khan and four other employees. The NAB team and FBR officials, also seized several documents after examining records at the two offices. Besides Dr ... Read More »

Appraisement East announces auction of fresh lots

customs auction

KARACHI: The Customs authorities have announced to auction fresh lots under Schedule No. 04/2017 at Model Customs Collectorate of Appraisement-East, Karachi. Read More »

Multan Chamber, importers demand strict action against appraiser Naeem Khan

port qasim

MULTAN: Importers of South Punjab demanded strict action against blackmailing and corruption of Appraiser Muhammad Naeem Khan and other corrupt officials to ensure swift clearance of their import consignments. Sources said appraiser Muhammad Naeem Khan posted at Port Qasim Karachi is used to blackmail genuine importers for clearance of their import shipments. President Multan Chamber of Commerce and Industry Malik ... Read More »

“Corrupt” appraiser Naeem Khan undermines anti-corruption drive

Importers approach FBR against blackmailing of PA Ibrahim Khan at R&D Port Qasim copy

KARACHI: Appraiser Muhammad Naeem Khan posted at Port Qasim is allegedly involved in rampant corruption, undermining the anti-corruption campaign vigorously launched by Chief Collector South Abdul Rasheed Sheikh. Sources claimed that Appraiser Muhammad Naeem Khan posted at Port Qasim Import Group-7 puts undue pressure on genuine importers through deliberately delaying clearance of consignments. He creates different hurdles to demand speed ... Read More »

FBR involves PARCO, OICCI in its drive to outreach potential taxpayers

Picture 1. Meeting with PARCO MD Tariq Rizavi

KARACHI: The Federal Board of Revenue (FBR) has further widened the scope of its ongoing taxpayers outreach programme by consulting the management of PARCO and and the OICCI with a view to create awareness among potential taxpayers. According to the details, the contacts are being made as part of a countrywide exercise started last month by the FBR to reach ... Read More »

E-filing of returns will play vital role in promoting tax culture: FBR Member Khawaja Adnan


MULTAN: The Federal Board of Revenue (FBR) is trying its best to facilitate taxpayers with automated modern technology for filing of tax returns without any hurdles. Taxes are the main source of income for any country and and e-filing of income tax returns has promoted tax culture in the country to a great extent. This was stated by Federal Board ... Read More »