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Blackmailing by Maersk, PIL, Pacific Delta shattered economy: Mian Shakeel Javed

Chairman, Mian Shakil Ashfaq, Shujabad Agro Industries (Pvt.) Ltd., Karachi

MULTAN: Blackmailing of Shipping Companies like M/s Maersk Pakistan (Pvt) Ltd, Pacific International Lines (PIL) and its agents in Pakistan, M/s Pacific Delta Shipping (Pvt) Ltd at Qasim International Container terminal (QICT) has shackled the economy. Shipping companies have misplaced the image of port and trust of importers over the collection of inequitable charges of demurrage and detention on clearance ... Read More »

Truckers announce to block entry, exit points of Lahore from today

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LAHORE: Continuing their protest for the second consecutive day against the government for allegedly disturbing their businesses, goods transporters on Friday announced to close all entry and exit points of the city from Saturday (today). “Since no one is hearing us or resolving our issues we are left with no option but to expand our protest by closing Lahore’s exit/entry ... Read More »

NAB should take action against Maersk, PIL, Pacific Delta: Advocate Nazim

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MULTAN: National Accountability Bureau (NAB) should take action against M/s Maersk Pakistan (Pvt) Ltd, Pacific International Lines (PIL) and its agents in Pakistan, M/s Pacific Delta Shipping (Pvt) Ltd in a mega scam of exorbitant demurrage and detention to address grievances of importers. Collection of exorbitant demurrage and detention charges from genuine importers is open violation of laws and said shipping ... Read More »

KSE-100 index loses 28.05pts to close at 39,243.89 mark

stocks lower

KARACHI: Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index lost 0.07 percent or 28.05 points to close at 39,243.89 points, whereas KSE-30 shares index followed suit with a low of 0.09 percent or 17.78 points to end at 18,746.72 points. Of 332 active scrips, 144 moved up, 176 retreated, and 12 remained unchanged. The ready market volumes stood at 104.483 ... Read More »

FBR chairman shows displeasure over performance of Multan RTO

FBR chairman Jahanzeb

  MULTAN: Federal Board of Revenue (FBR) Chairman Muhammad Jahanzaib Khan has shown displeasure over the performance of Regional Tax Office and directed to accelerate revenue collection for accomplishment of set target. According to reliable sources of Customs Today, Chairman Federal Board of Revenue Muhammad Jahanzaib Khan conducted video link conference with the Regional Tax Office Multan in which he ... Read More »

Foreigners took $420m out of the stock market in six months

stocks higher

Foreigners sold shares worth $420 million during July to December 2018, according to the data released by the State Bank of Pakistan on Wednesday. As foreigners were taking their dollars out of the country’s capital market, the benchmark KSE-100 index was on a decline and lost 5% of its value in the period under review. The overall picture is no good as ... Read More »

NAB asked to probe Maersk, PIL, Pacific Delta in multi-billion demurrage & detention scam

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KARACHI: The National Accountability Bureau (NAB) has received an application against M/s Maersk Pakistan (Pvt) Ltd and also against Pacific International Lines (PIL) and its agents in Pakistan, M/s Pacific Delta Shipping (Pvt) Ltd in a mega scam of demurrage and detention worth billions. The complaint received by the NAB demanded legal action for recoveries of amounts looted and recovering losses of Rs. ... Read More »

Indians working at QICT without MOI clearance pose security risk: Qazi Jaffar

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PESHAWAR: The Indians working unlawfully at Qasim International Container Terminal (QICT) without the issuance of No Objection Certificate (NOC) by the Ministry of Interior (MOI) might be a national security risk. The law enforcement agencies must hold the license of M/s QICT due to its operations without clearance of MOI. Talking with Customs Today, advocate Peshawar High court Qazi Jaffer expressed shock ... Read More »

Pakistan Stocks show positive trend in early trading

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KARACHI: Trading started with a positive note on the first day of the week at Pakistan Stock Exchange after it closed bearish on Friday at 39,049.08. After midday, the KSE 100-Index surged to 39,386.36, showing a change of 0.8563%. Once the market soared to its high point of 39,504.49 and then came back to 39,386.36. On Friday, after a brief open ... Read More »

Illegal control of QICT by Indians without MOI clearance poses high security threat

Sultan Ali soomar

KARACHI: Illegal appointment of Indians at Pakistan’s strategic sea port Qasim International Containers Terminal (QICT) without the Ministry of Interior’s (MOI) clearance could pose security threat to the country. Indians are spying on the QICT as it is controlled by M/s DP World Group with 75% shares and, many of the management staff and directors of board are Indian nationals. ... Read More »

Curbing Indian goods smuggling through Kashmir remained top priority: Chief Collector Zulfiqar Ch

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ISLAMABAD: The Customs officers of Model Collectorate of Customs Islamabad arranged a farewell party in honor of the outgoing Dr. Zulifqar Ali Chaudhary who is transferred as Chief Collector Operations (Enforcement) Quetta. As per details, Zulfiqar Chaudhry will join Customs Collectorate Quetta this week. So a farewell party was organized in his honor at Preventive department of the Collectorate where all ... Read More »

FIA asked to recover billions from PIL, Pacific Delta in demurrage & detention scam

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KARACHI: The Federal Investigation Agency (FIA) has received an application against Pacific International Lines (PIL) and its agents in Pakistan, M/s Pacific Delta Shipping (Pvt) Ltd in a mega scam of demurrage and detention worth billions. The complaint received by the FIA demanded legal action for recoveries of amounts looted and recovering losses of Rs. 610 billion to the national exchequer per year ... Read More »

DG Customs revises values of various types of resins thru VR NO 1351

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KARACHI: Directorate of Customs Valuation Karachi has revised the Customs values of phenolic resin, polyurethane resin, melamine resin and epoxide resin vide Valuation Ruling No.1351/2019. Earlier the Customs values of Phenolic Resin, Polyurethane Resin, Melamine Resin, Alkyd Resin and Epoxide Resin were determined vide Valuation Ruling No. 1278/18. Several importers filed revision applications under section 25-D of the Customs Act ... Read More »

Customs values of spices, nutmeg revised thru VR No 1350/2019

spices, nutmeg

KARACHI: Directorate of Customs Valuation Karachi has revised the Customs values of various spices and nutmeg vide Valuation Ruling No.1350/2019. Earlier customs values of various spices and nutmeg were determined through Valuation Ruling No. 1047/2017. There were several representations from importers and clearance formations, wherein they contended that customs values determined in the existing Valuation Ruling are not reflective of ... Read More »

Bulls power index past 39,000 points

international markets

KARACHI: Stocks maintained the positive momentum on Tuesday with the KSE-100 index notching up gains of 490.10 points (1.27 per cent) and closing at 39,052.50. As the political temperatures simmered down, it helped calm investors’ nerves, who began buying attractively valued scrips. On the economic side, Federal Minister for Planning, Development and Reforms Makhdoom Khusro Bakhtyar put the figure of ... Read More »

NAB shows excellent performance under dynamic leadership of Justice Javed Iqbal

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ISLAMABAD: NAB under the dynamic leadership of Honorable Justice Mr. Javed Iqbal, Chairman NAB has been rejuvenated and geared through its proactive anti-corruption strategy by adopting “Accountability for All” policy. Today NAB has become a vibrant and reports and surveys of different reputable national and international organizations like PILDAT, Mishal Pakistan, Gallop and Gillani Survey, Transparency International and World Economic ... Read More »

After Maersk, PIL & Pacific Delta also evaded ST worth billions with SRB connivance

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KARACHI: After uncovering of the alleged scam of Maersk Pakistan (Pvt) Ltd, now it has been unearthed that Pacific International Lines (PIL) along with its agent in Pakistan, Pacific Delta Shipping Pvt. Ltd, have also reportedly evaded sales tax to the tune of billions of rupees. Customs Today reported extensively about alleged mega sales tax scam of Maersk Pakistan (Pvt) ... Read More »

FBR transfers 57 officials of Inland Revenue Service

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ISLAMABAD: Federal Board of Revenue (FBR) has transferred 57 officials of Inland Revenue Service including 20 officials of Grade-19, 20 officials of Grade-18, 15 officials of Grade-17 and 2 officials of Grade-16. Following officials are transferred:     Read More »

FIR application against PIL, Pacific Delta Shipping for demanding illegal charges

FIR application against PIL, Pacific Delta Shipping for demanding illegal charges

KARACHI: Pacific International Lines (PIL) and its agents in Pakistan, Pacific Delta Shipping (Pvt) Ltd, are harassing and disturbing genuine importers through illegal holding & blocking of their imported goods for the sake of demanding additional demurrage and detention charges in violation of relevant customs laws. Importers have filed application to lodge FIR against this shipping line and its agents ... Read More »

IDP team’s efforts helped surpass revenue target in 2 quarters: DC Saleha Zakir Shah

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ISLAMABAD: Deputy Collector Islamabad Dry Port (IDP) Saleha Zakir Shah said that collection of revenue is our second priority but vigilance is our topmost priority. Talking with Customs Today during an exclusive interview, she said that she believed on teamwork and having trust in people. She added that during the first half of Financial Year 2018-19, the Islamabad Dry Port ... Read More »