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Customs Today wishing its readers a happy Eid al-Fitr

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Customs Today wishing its readers a happy Eid al-Fitr Read More »

Hike in petroleum prices challenged in LHC


LAHORE: Increase in petroleum prices is challenged in the Lahore High Court (LHC). The government has raised the price of petroleum products by Rs9.35 per liter. The petition stated that the international crude oil prices remained stagnant, but the government has increased the prices which would severely affect the masses. The petition contended that the increase in prices of petroleum ... Read More »

IDB to support Pakistan in economic growth and social uplift: Dr. Bander Hajjar


ISLAMABAD: H.E. Dr. Bander M.H. Hajjar, President, Islamic Development Bank said that IDB Group’s relationship with Pakistan spanned over 40 years during which the Group has supported the sustainable and inclusive development in the country and it would continue to support Pakistan in economic growth and social uplift. He was interacting with local business community at a dinner hosted by ... Read More »

Pak-US trade relations need to be improved: RCCI


RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) in collaboration with Pakistan American business Forum (PBAF organized a Pak-America Business conference in Dallas, Texas. Vice President RCCI Fayyaz Qureshi who was leading RCCI delegation in his address said that the major purpose of the conference was to provide an opportunity to exchange the views and identify the hurdles in ... Read More »

Customs values of polyester filament yarn revised


KARACHI: Directorate of Customs Valuation Karachi has revised the Customs values of Polyester Filament Yarn vide Valuation Ruling No. 1362/2019. Earlier the customs values of the polyester filament yarn were determined vide Valuation Ruling No. 1355/2019. Aggrieved with the valuation ruling several review petitions were filed before the Director General of Customs Valuation Karachi by the importers/members of Pakistan Yarn ... Read More »

DG Valuation revises customs values of chocolate spread vide VR No 1361/2019

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  KARACHI: Directorate-General of Customs Valuation has determined the customs values of chocolate spread through Valuation Ruling No. 1361-2019. It was brought to the notice of the Directorate that the values of various brands of Chocolate Spread are being declared to Customs at much lower prices than their current international values. Verification by the department affirmed this stance. Keeping in ... Read More »

Customs I&I blocks consignments of embassies, recovers 1080 bottles of whiskey

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KARACHI: Directorate of Customs Intelligence and Investigation (I&I), Karachi blocked a number of consignments on suspicion of having smuggled liquor in the garb of diplomatic goods or food stuff. According to Director I&I Irfan Javed, on credible information, the Directorate blocked a number of consignments of different embassies including Indonesia, Syria, Algeria and Lebanon after their clearance by relevant customs ... Read More »

PM Imran sacks Petroleum Minister Ghulam Sarwar Khan in cabinet reshuffle

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ISLAMABAD: Prime Minister Imran Khan on Thursday dismissed Petroleum Minister Ghulam Sarwar Khan over unsatisfactory performance hours after Finance Minister Asad Umar announced to step down from his post, according to media reports. The sources have said that the premier is expected to appoint a federal minister, and there will also be changes in the minister of revenue and commerce. ... Read More »

I&I lodges FIR against suspects in boostin/somatotropin injections smuggling case


KARACHI: Directorate of Customs Intelligence & Investigation lodged first information report against suspects namely Sadruddin son of Babu Din, Ms. Sayed Aziza, Ms. Sadick Fathima Bibi, Hammad and others, who were involved in a case of attempting to smuggle contraband 11,140 boostin/somatotropin injections (foreign origin). On April 15, 2019, investigation officer submitted FIR before the court and informed that on ... Read More »

Appraisement East lodges FIR against M/s Zulfiqar Traders in mis-declaration case

Tax Evasion

KARACHI: The Customs Court directed investigation officer to complete investigation against suspect namely Zulfiqar, proprietor of M/s Zulfiqar Traders, who was involved in mis-declaration of description, quantity and import of banned items in the garb of new and used miscellaneous items, besides evasion of duties and taxes to the tune of Rs3,775,631. On April 15, 2019, investigation officer informed that ... Read More »

Punjab govt slaps Rs21b tax on Orange Line project


LAHORE: The Punjab Revenue Authority has imposed taxes amounting to Rs21 billion on the Orange Line Metro Train project, according to media reports. According to details, the Punjab Mass Transit Authority has issued a show cause notice for payment of Rs12.9 billion sales tax on the metro project, while the Lahore Development Authority has also issued a show cause notice ... Read More »

Major changes in federal cabinet, bureaucracy on the cards


ISLAMABAD: A major reshuffle is on the cards in the federal cabinet and bureaucracy, sources privy to the development said on Monday. “Major changes are expected in the Ministry of Finance and the Federal Board of Revenue,” the sources said. “A reshuffle is expected in the Ministry of Finance after talks with the International Monetary Fund (IMF) conclude,” they further ... Read More »

Qatar can benefit from investing in tourism, energy sectors: Bakhtiar


ISLAMABAD: Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar Tourism, energy and infrastructure sectors of Pakistan offer massive investment potential and Qatar can benefit from investing in these areas. While talking to a Qatari delegation, headed by Qatar Investments Department Head and Qatar Regional Investment Fund Head Sheikh Faisal Bin Thani Al Thani on Monday, the minister reiterated ... Read More »

Zardari’s close aide Owais Muzaffar arrested in Dubai


ISLAMABAD: Asif Ali Zardari’s close aide and former provincial lawmaker Owais Muzaffar was arrested from Dubai, according to media on Tuesday. Muzaffar, alias Tapi, has been arrested for his involvement in a case pertaining to money laundering of billions through fictitious bank accounts. Asif Ali Zardari, Faryal Talpur, Omni Group’s Anwar Majeed and his son Abdul Ghani Majeed, former Pakistan ... Read More »

Portugal’s EDP could create Latam JV with China Three Gorges if takeover bid fails – sources

LONDON/SAO PAULO: Portugal’s Energia de Portugal EDP could propose a joint venture with China Three Gorges (CTG) allowing CTG to expand its foothold in Brazil and Latin America if the Chinese power giant’s bid to take over EDP fails, people familiar with the matter said. CTG, EDP’s main shareholder with a 23 percent stake, is among Chinese state-backed companies that ... Read More »

Customs Court awards jail term & imposed fine on accused involved in smuggling


LAHORE: The Special Federal Court of Customs Taxation and Anti-Smuggling has sentenced accused Mohammad Nawaz to one month jail and also imposed penalty of Rs5 million who is involved in smuggling of foreign currency from Pakistan to Saudi Arabia. According to details special judge of customs court Khaqan Babar on Tuesday sentenced an accused currency smuggling case and announced jail ... Read More »

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Qasim Ali Shah approaches IHC seeking pre-arrest bail

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ISLAMABAD: Former Sindh chief minister Murad Ali Shah on Monday filed a petition in the Islamabad High Court (IHC) seeking pre-arrest interim bail. The former provincial chief minister in his petition stated that the National Accountability Bureau (NAB) has summoned him on March 27 and he fears that he will be arrested. Shah requested the IHC to order NAB to ... Read More »

ASO recovers narcotics worth of Rs35m from Toyota Land Cruiser

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ISLAMABAD: Collectorte of Customs, Anti-Smuggling Organization (ASO) seized 490 kilograms of narcotics along with carrier vehicle worth of Rs35 million. Sources told Customs Today that Collector Seema Raza Bokhari received an information that narcotics would be smuggled from Khyber Pakhtoon Khawa to Punjab through a white Toyota Land Cruiser (Lexus). She directed the Additional Collector Ashfaq Khan who immediately constituted ... Read More »

Provision of conducive business environment govt top priority: President Alvi

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LAHORE: President of Pakistan Arif Alvi has said that provision of conducive business environment is one of the top priorities of the government. He said that government is also focusing on poverty alleviation, environmental protection, investment in human resources, SME sector and particularly on agriculture. He was speaking at the LCCI Ambassadors Dinner – 2019. The LCCI President Almas Hyder ... Read More »