Monday , July 26 2021
Breaking News
Home / Author Archives: M Hayat (page 20)

Author Archives: M Hayat

FBR urged to withdraw discretionary power for multiple audit

LAHORE: President Mian Anjum Nisar and Convener Zakaria Usman, Budget Advisory Council of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) urged the FBR to withdraw the discretionary powers vested with the tax officials to avoid their misuse, provide relief to the taxpayers, simplify taxation law and restore the diminishing confidence of the assessees in the taxation laws ... Read More »

FBR transfers 4 PCS officers with immediate effect

LAHORE: Federal Board of Revenue (FBR) has notified transfers and postings of following Pakistan Customs Officers (PCS) with immediate effect and until further orders. Accordingly, Muhammad Saeed Wattoo (BS-19) is moved from the office of Additional Collector Preventive Lahore to Additional Director Customs Intelligence and Investigation Multan. Muhammad Hasan Farid (BS-18) is transferred and transferred as Additional Director (OPS) Customs ... Read More »

New Member Customs Operation Tariq Huda welcomed

Asks him to take up demurrages & detention charges issue on priority basis LAHORE: Importers welcoming the newly made member customs operation Tariq Huda have urged him to take up the burning issue of demurrages and detention due to which the import business has all but confronted with tough time in the history of the country. Importers and business leaders ... Read More »

Importers waiting demurrages, detention relief to save business

LAHORE: Importers have not been extended any relief in demurrage and detention despite the government has been repeatedly reminded of the high-handedness of port terminals and shipping lines amid Covid-19 which has destroyed the entire fabric of global economy. Importers and business leaders across the country have continued seeking demurrages and detention charges due to the intense economic downturn due ... Read More »

Customs ASO impounds smuggled dry milk, China salt worth Rs50m

LAHORE: Collectorate of Customs Preventive Anti-Smuggling Organization (ASO) impounded over Rs 50 million smuggled dry milk, China salt and Khopra powder. Sources told Customs Today that Collector Customs Preventive Basit Maqsood Abbasi received information from his sources that huge quantity of smuggled dry milk, China salt and Khopra powder dumped in a godown located near Akbari Mandi. He immediately constituted ... Read More »

Shipping lines, private port terminal operators damaging Pakistan import business: Nasir Hameed

LAHORE: The shipping lines and private port terminal operators have been charging illegal detention and demurrages charges damaging the import business in the country while no one is there to question them as to why they have defied Federal Board of Revenue (FBR) direction about not charging demurrages and detention to from both commercial and industrial importer amid the lockdowns ... Read More »

Prime Minister asked to take stern action against shipping lines, private port terminal operators

LAHORE: Prime Minister needs to take stern action against shipping lines and the private port terminal operators who have defied federal Board of Revenue (FBR) direction in extending free days in detention and demurrage charges to the commercial and industrial importer amid the lockdowns due to COVID-19 and global economic crisis. This was stated by Lahore Chamber of Commerce and ... Read More »

Govt needs to take stern action against private port terminal operators, shipping lines

The business community has run as cash crunch due to stuck-up of the payment and there is no liquidation of the stocks in the godowns as well,” Shahid Nazir, auto parts importer LAHORE: The government should have to take stern action against the private port terminal operators and the shipping lines who have been defying government’s directive about extending free ... Read More »

Importers call for action against govt directives’ breach

LAHORE: The commercial and industrial importers have asked the Prime Minister to take action against those companies, which have continuously been violating the government advice and refusing the clear directions of various state agencies like FBR and EDB to relax detention and demurrage charges at least in lockdown period. Friends of Business & Economic Reforms (FEBR) President Kashif Anwar, while ... Read More »

Gems and Jewelry sector’s over 0.8 million workers are sitting idle: Rizwan Shamsi

LAHORE: Gems and Jewelry sector’s over 0.8 million workers are sitting idle without work in homes while the sector has suffered loss of over Rs2.50 billion during the COVID-19 lockdown. These views were shared by All Pakistan Gem and Jewelers and Merchants Association vice chairman Muhammad Rizwan Akhtar Shamsi in an interview here the other day. Following are some excerpts ... Read More »

Defiance of govt orders by shipping lines, port terminals becomes major issue

Chambers, association, importers continue write letters to PM LAHORE: Non Compliance of the government directives by the Shipping lines and port terminals illegal charges has become one of the major issue in the country as following numerous requests by importers and various association including Friends of Economic and Business Reforms, chambers, Lahore Chamber of Commerce and Industry has also written ... Read More »

Ministry takes notice of non-provision of demurrages, detention relief to importers

LAHORE: In the result of continuous voice-raising by Friends of Economic and Business Reforms   (FEBR) Engineering Development Board of Ministry of Industry and Production Tuesday recommended that until the removal of hardships of COVID-19 at the Ports, the industry should be provided free demurrages and detention charges relief time till the situation normalises. It was said in view of the ... Read More »

Date for filing of Goods Declaration extended further

ISLAMABAD: Pakistan Customs Tuesday further extended the date for filing of Goods Declaration (GD) for all IGMs filed between April 07 to May 09, 2020. However, this order shall not be applicable in case any fine or penalty has already been paid by the importer, an order dated May 04, 2020 noted. Federal Board of Revenue (FBR) had already extended ... Read More »

PTBA for waiving demurrages, detention charges, extending free time

LAHORE: Pakistan Tax Bar Association (PTBA) president Aftab Nagra, Qari Habibur Rehman Zubari and other office bearers have urged the government to bring down rate of taxes, interest rate to 5 percent and extend demurrages and detention free time. They said that COVID-19 has played havoc with the world economy and every country has suffered losses. They said that in such ... Read More »

FEBR once again writes letter to PM seeking relief in demurrage & detention charges

LAHORE: Friends of Economic and Business Reforms (FEBR) president Kashif Anwer has again written letter to Prime Minister Imran Khan seeking relief in demurrage and detention penalties and extension in date of utilities like gas, telephone, mobile, water and others and Federal Board of Revenue (FBR) for income tax, EOBI, Education Cess, Social Security and other revenue authorities to extend ... Read More »

Sales tax & interest rates be reduced amid COVID-19: CAP chairman Rana Tariq Mehboob

LAHORE: As COVID-19 lockdown has posed billions of rupees losses to the retail sector sales tax rate should be brought down to a single digit 5 percent, interest rate be reduced further,  turnover tax, income tax and holding tax be revised so that prices can be reduced for end consumers. This was stated by Chainstores Association of Pakistan (CAP) chairman ... Read More »

Rice exporters demand to withdraw decision to ban export of edible items

LAHORE: Rice Exporters Association of Pakistan protested against Cabinet’s decision to ban export of all edible has urged the government to withdraw the decision immediately otherwise it would hit the economy hard. The demand was raised at an emergency meeting of Rice Exporters Association of Pakistan held at the Lahore Chamber of Commerce & Industry. President Federation of Pakistan Chambers ... Read More »

Covid-19: Lahore Customs House building disinfected

LAHORE: In the wake of crisis time when COVID-19 has been infecting all and sundry, the Customs House Lahore authorities have also taken measures to save and protect the employees and the visitors. The sources said that upon directions of Collector Basit Abbasi under the supervision of additional collector Saeed Watto the Customs House has been sprayed for the second ... Read More »

Industrial importers seek announcement of policy

LAHORE: The Friends of Economic and Business Reforms (FEBR) has appealed the central bank to formulate some financial policy for commercial and industrial importers like its various schemes already announced to facilitate SMEs, retail, corporate businesses, workers of business concerns and export sector. In an open letter written to Mr. Reza Baqir, the Governor of State Bank of Pakistan, FEBR ... Read More »

ASO impounds Rs20.50m smuggled cigarettes

LAHORE: Collectorate of Customs Preventive Anti-Smuggling (ASO) Tuesday seized container of 543 cigarettes carton in a raid on information. As per details Enforcement and Compliance Collector Basit Maqsood Abbasi received secret information that smuggled cigarettes are being transported to Lahore from Quetta. The collector upon information constituted a team under the supervision of Assistant Collector Ali Toqeer who intercepted a ... Read More »