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Author Archives: M Hayat

FBR performance for income tax refunds appreciated

LAHORE: President of the Lahore Chamber of Commerce and Industry (LCCI) Irfan Iqbal Sheikh has appreciated Federal Board of Revenue (FBR) for payments of income tax refunds to the taxpayers. President Irfan Iqbal has also thanked the federal government for considering Lahore Chamber of Commerce and Industry’s efforts for the payment of refunds of Income Tax to the taxpayers. “I’m ... Read More »

Customs ASO impounds smuggled dry fruit from M/s Kashmir Cold Store & M/s Zain Cold Store

LAHORE: Collectorate of Customs Enforcement and Compliance (E&C) Anti Smuggling Organization (ASO) Sunday seized Rs1000 million Afghan transit dry fruit from two private warehouses namely M/s Kashmir Cold Store and M/s Zain Cold Store located at Band Road. Sources told Customs Today that Customs Enforcement and Compliance Collector Basit Maqsood Abbasi received credible information that huge quantity of non-duty paid ... Read More »

Ali Hussam Asghar assumes office as LCCI acting president

LAHORE: The LCCI Senior Vice President Ali Hussam Asghar will perform as the acting president of the Lahore Chamber of Commerce & Industry in the absence of the LCCI President who is out of country. Ali Hussam Asghar is a young, confident and dynamic businessman with profound knowledge and experience in export market as well as sales in local market. ... Read More »

FBR I&I detects tax evasion of Rs 4.36b by food manufacturing unit

LAHORE: Federal Board of Revenue (FBR) Directorate of Intelligence and Investigation Lahore has unearthed a massive tax evasion case of Rs4.36 billion in Lahore. Sources told that in pursuance of information received, discrete intelligence gathering was carried out in relation to a registered person operating a manufacturing concern of edible products in Lahore as a result of which it was observed ... Read More »

Facilitating businessmen top priority of Appraisement Collectorate : Fareed Iqbal Qureshi

LAHORE: Chief Collector Customs Appraisement Dr. Fareed Iqbal Qureshi has said that facilitating the business community is top priority of the Collectorate, while customs appraisement has worked hard to ensure minimum time in clearance of goods and articles and easy registration of the firms. He expressed these views during meeting with LCCI President Irfan Iqbal Sheikh and Senior Vice President ... Read More »

Pakistan Customs & LEAs impounds 143pc additional goods in country-wide operation

LAHORE: Pakistan Customs is making all out efforts to protect the economic frontiers of Pakistan and protect local industry. Pakistan Customs under the leadership and in coordination of Law Enforcement Agencies i.e. Police, Frontier Corps, Pakistan Rangers & Maritime Security Agency has launched a country-wide operation against transportation, storage and sale of smuggled goods. Raids are being conducted on dumping ... Read More »

Govt focusing to industrial development: Usman Buzdar

LAHORE: The government is focusing to the industrial development and has established 13 special economic zones. Chief Minister Punjab Sardar Usman Buzdar expressed these words whole on Monday inaugurating state-of-the-art One Window Smart Services at the Lahore Chamber of Commerce & Industry. LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar, Vice President Mian Zahid Jawaid Ahmad, Provincial ... Read More »

Economy moving towards recovery: Hammad Azhar

LAHORE: Federal Minister for Industries and Production Hammad Azhar has said that the country’s economy was moving towards recovery. The federal minister, while addressing a press conference in Gulshan-e-Ravi said that there are brotherly relations with Saudi Arabia which will last forever. The rumors of a breakdown in the relationship are just rumors. He denied the rumors of a breakdown ... Read More »

LCCI holds flag hoisting ceremony on Independence Day

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) has held flag hoisting ceremony at the Chamber. A number of industrials and traders including LCCI President Irfan Iqbal Sheikh, senior vice president Ali Hussam Asghar, vice president, VICE president Mian Zahid Javaid, Friends of Economic and Business Reforms president Kashif Anwar, former SVP Khawaja Khawar Rasheed and other were present on ... Read More »

FBR holds e-khuli kachehri of traders in Lahore

LAHORE: Continuing with the government’s initiative to rebuild trust in public institutions, the second e-khuli kachehri was held on 13-08-2020. Business community across the city was engaged for unearthing hidden issues, seeking constructive suggestions and resolving long standing problems. Leaders of Anjuman e Tajran from Jallo More, Dharampura, Ravi Road, Shahdara, Azam Cloth Market, Johar Town, Ichra etc. actively participated ... Read More »

Customs, IR inquiry officers asked to conclude hearing of cases in 90 days

LAHORE: Customs and Inland Revenue (IR) inquiry officers has been asked to actively inquire into and apply an independent mind to arrive at a conclusion and not rely only on the ability of the DR to prove or disprove the charges leveled against any employee under the Government Servants Efficiency & Disciplinary (E&D) Rules, 1973 It is directed that all ... Read More »

Customs puts in place preventive mechanism to control under-invoicing, over invoicing

LAHORE: Pakistan Customs has put in place proactive / preventive mechanism to effectively control under-invoicing / over invoicing and mis-declaration (at the import stage) keeping in view the fact that these phenomena not only cause revenue hemorrhage and loss to domestic industries but the same are instrumental source of trade-based money laundering and terrorism financing. Such malpractices are now treated ... Read More »

LCCI takes special measures to enhance halal food exports: Ali Hussam Asghar

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has taken a number of measures to enhance halal food exports as for the first time halal food standing committee has been set up and stakeholders were invited for the input. The views were expressed by Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Ali Hussam Asghar while talking ... Read More »

Customs ASO impounds over Rs 329m smuggled goods, vehicles

  LAHORE: Collectorate of Customs Anti-Smuggling Organization (ASO) has seized over Rs329 million smuggled and contraband goods and vehicles in the month July Financial Year 2020-19. Talking with Customs Today said that more than Rs 150 million’s smuggled vehicles were seized that included BMWs, Mercedes and Toyota Land Cruisers during the month of July.  “Total value of the goods seized ... Read More »

Pakistan Customs clears another 118 stranded Indian nationals

LAHORE: Pakistan Customs team deputed at Wagha border have cleared another 118 Indian nationals stranded in Pakistan due to Covid 19 pandemic via Wagha Border by foot on Monday, official sources said. Customs officials including Additional Collector Salman Javed, Superintendent Shahid Joia, Inspector Sohail Murtiza and Principal Appraiser Muhammad Shabbir were present on the occasion. The customs authorities took necessary ... Read More »

CEPC Authority chief, FIEDMC chairman discuss Allama Iqbal Industrial City uplift works

LAHORE: China Pakistan Economic Corridor (CEPC) Authority Chairman Lt. Gen. ® Asim Bajwa has met Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq and discussed in length the development works at Economic Zone Allama Iqbal Industrial City. Allama Iqbal Industrial City project’s master plan is underway and the project will be completed by October 2020. The ... Read More »

FBR circulates seniority list of PCS officers of 43rd & 44th CTP

LAHORE: Federal Board of Revenue (FBR) has prepared final list of inter seniority customs officers of 43rd and 44th CTP. As per details,  provisional inter seniority list of Pakistan Customs Service (PCS) officers belonging to 43rd and 44th has been prepared/determined in accordance with the Occupational Groups and Services (Probation, Training and Seniority), Rules, 1990 as amended from time to ... Read More »

FBR should take notice of 12,000 taxpayers grievances

LAHORE: Federal Board of Revenue (FBR) should take notice of the grievances of 12,000 taxpayers who had deposited Rs2.6 billion tax under the Tax Amnesty Scheme but failed to upload their asset declaration due to problems in the FBR online system. This was stated by the Lahore Chamber of Commerce & Industry (LCCI) President Irfan Iqbal Sheikh, Senior Vice President ... Read More »

Wagha Customs to make clearance of another 118 stranded Indians on August 10

LAHORE: Customs team deputed at Wagha border will make clearance of another 118 Indian national stranded in Pakistan due to Covid 19 pandemic via Wagha border on August 10, official sources said. As per details, fresh list of 118 stranded Indians in Pakistan (led by Ms. Gulzar Begum. Passport No. L3265475) 2 will clear to go back to India through ... Read More »

24/7 opening of business must to boom economy: LCCI

LAHORE: The Lahore Chamber of Commerce & Industry has welcomed the Punjab government’s decision to allow all industries, factories and businesses related to the construction sector to operate 24 hours, 7 days a week with the Standard Operating Procedures.  The LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad said that ... Read More »