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Author Archives: Saleem Jadon

Imran’s public meeting hampers businesses

LAHORE: The Pakistan Tehreek-e-Insaf (PTI) show of power at Minar-e-Pakistan ground all sorts of business activities to a halt as the entire city wore a desert look while transport remained thin on the roads. Though it was Sunday, the public meeting affected the business activities adversely while people faced great difficulty in carrying out routine activities of life. The PTI ... Read More »

Opening: Bear-run continues in KSE

KARACHI: The bears continued to reign over the Karachi Stock Exchanage as the benchmark KSE-100 index fell down 138 points or 0.47 percent to 29566 points in early trading on Monday. The market opened at the weedend closing of 29705 points and failed to cope with the bearish trend, going further down. The investors appeared cautiouse, preferred to wait and ... Read More »

Midday: Bears rout KSE bid for rally, sheds 111 points

KARACHI: It seems the bears have haunted back the Karachi Stock Exchange as the benchmark KSE-100 index plummet by almost 111 points from the overnight closing of 30180 points to 30081.71 point or 0.37 percent in the midday trading on Wednesday. Although it was a volatile opening in the Karachi Stock Exchange as stocks went down sharply, the KSE-100 index ... Read More »

FBR Union warns to go on strike for indefinite period

LAHORE: The Federal Revenue Alliance Employees Union in its emergent meetings held simultaneously at Regional Tax Offices (RTO) in different cities including Sialkot, Sukkhar and Faisalabad vehemently opposed the dismissal of FBR Union central president. They also threatened to go on strike for unlimited period if the government did not withdraw the decision. The FBR Union executive bodies of several ... Read More »

Shahbaz for removal of flaws in tax collection system

LAHORE: Punjab Chief Minister Shahbaz Sharif said that the Punjab government would take all possible steps to increase provincial revenue so that maximum funds could be available for public welfare schemes. He said that there was a need for removing flaws in tax collection system. The Punjab CM was talking to a representative delegation of Mckinsey which called on him ... Read More »

Dubai customs organises Intellectual Property Rights workshops

DUBAI: Dubai Customs has enhanced its outreach activities by organising Intellectual Property Rights (IPR) protection awareness workshops in cooperation with the Abu Dhabi Customs Administration in Abu Dhabi and Al Ain under the title: “Dubai Customs Intellectual Property Achievements”. A total of 80 trainees from customs centres in both cities participated in the workshops, which came as part of the ... Read More »

HK Customs smashes a technology company

HONG KONG: Customs officers have taken action to search a technology company at Sham Shui Po in Kowloon. During the operation, officers seized 49 sets of karaoke systems loaded with suspected infringing songs and movies. The total seizure value is about $600,000. Six men and three women were arrested. The Group Head of Intellectual Property Investigation (Operations), Michael Kwan, said ... Read More »

Woman caught smuggling cocaine in hair products at JFK Int’l Airport

NEW YORK: Despite the creative attempts to smuggle drugs into the country, people still aren’t fooling US Customs and Border Protection. The officials said that a woman had been arrested at JFK International Airport with 6.27 pounds of cocaine stashed in her hair products. Erika Rodriguez de los Santos returned from Santo Domingo when she was confronted about five uncharacteristically ... Read More »

Bangladesh Customs seizes 2.5kg gold

DHAKA: Bangladeshi Customs officials have seized the gold just a day after the authority held another expatriate with 1.2 kilograms of gold. Another haul of gold, 21 bars weighing at 2.5 kilograms, was seized from a Dubai expatriate at Shahjalal International Airport. Mohammad Shahidullah, 35, hailed from Feni, was working as a labourer in Dubai. The Dubai expatriate was held ... Read More »

FBR starts crackdown against tax defaulters

ISLAMABAD: FBR, in a rare move, has started crackdown against 30 big tax defaulters of steel sector in Lahore and has registered six FIRs so far. The steel sector in the country is ruled under the Sales Tax Special Procedure Rules, 2007 which provides two regimes for payment of sales tax by the steel melters and re-rollers. As per calculation, ... Read More »

FBR issues revised tax rate for freight, passenger vehicles

SLAMABAD: Federal Board of Revenue (FBR) has issued revised income tax rates for freight and passenger vehicles under section 234 & 231B of Income Tax Ordinance, 2001. According to the notification issued here, FBR has reduced tax rates on goods transport vehicles from Rs3 per kg to Rs2 per kg of the laden weight. Tax rates on transports vehicles with ... Read More »

Customs for resolving clearing agents’ issues

KARACHI: Pakistan Customs has directed its all concerned offices to conduct hearings during working hours (9am to 5pm) to relieve clearing agents. The Collector West made this decision after meeting with Karachi Customs Agents Association (KCAA) President Sheikh Iftikhar. The Collector, after reviewing the problems, directed all the offices concerned to conduct hearings during working hours. Iftikhar also requested members ... Read More »

100 clearing agents granted bails in missing containers case

KARACHI: The Sindh High Court (SHC) has granted pre-arrest bails to at least 100 Customs forwarding and clearing agents in different references filed by the National Accountability Bureau (NAB) regarding 19,000 missing containers’ scam. The anti-NAB appellate bench, headed by Justice Ghulam Sarwar Korai, granted pre-arrest bail to the agents as NAB prosecutors did not oppose the decision. Earlier, the ... Read More »

FBR transfers 17 officers

ISLAMABAD: Federal Board of Revenue (FBR) has transferred 17 officers of the Inland Revenue Service (BS-18-20) with immediate effect. According to a notification, Jehanzeb Mahmood (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (Zone-I) Regional Tax Office, Peshawar. Ghazanfar Hussain (Inland Revenue Service/BS-20) has been transferred and posted as Commissioner Inland Revenue (WHT) Regional Tax Office, ... Read More »

Dubai Customs wins New Market Solution Award

DUBAI: Dubai Customs has won the ‘New Market Solution Award’ for the applications that were developed and employed during the WCO IT Conference and Exhibition, themed ‘Effective Solutions for Coordinated Border Management’, held last May. The awards were presented in a ceremony that took place recently in New York, US, where many prominent names competed for the awards by presenting ... Read More »

3,000-year-old statues recovered, two smugglers nabbed

RAWALPINDI: Two men have been arrested while smuggling more than 50 ancient statues on Fateh Jang Road. According to police, the arrested smugglers have been identified as Munir Khan and Rasheed Gull. SHO PS Naseerabad Chaudhry Jamil said that police officials were on routine duty at checkpoint on the said road when they signalled a suspected car (RNL-1086) to stop. ... Read More »

A meeting on anti-smuggling continues at Customs House, CC Enforcement M Yahya chairing the meeting

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Meeting regarding WeBOC continues in MCC Bin Qasim Port

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Importers reject valuation rulings, demand reversal

KARACHI: Business community has rejected the revision of assessment of valuation of imported goods and demanded the government to relapse it to previous levels. Earlier, the customs authorities had changed import values of 96 items including motorcycle spare parts, cloth, coconut, coconut oil, industrial raw material, powder milk and fax paper. All Pakistan Motorcycle Spare Parts Imports and Dealers Association ... Read More »

CCA launches training programme to polish young fast bowlers

KARACHI: The Customs Cricket Academy (CCA) has launched a training programme for young fast bowlers in a ceremony at the Karachi Gymkhana. Former Test cricketer and first-ever ODI hat-trick holder Jalaluddin, who will supervise the trainings, explained the objectives of the programme and said that the talented young pace bowlers can develop and improve their abilities through this programme. He ... Read More »