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Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

NAB Karachi recovers Rs134.339m acting upon Customs Today article, distributes to FBR

KARACHI: Customs Today had published a series of stories including on 16th Sept. 2019 https://customstoday.com.pk/nab-takes-action-on-green-channel-mega-scam-after-customs-todays-extensive-coverage/ and further on 19th Sept. 2019 unearthing the scam of clearing goods in green channel under the garb of Iron/ steel re-meltable scrap. The articles also had names of culprits upon which action was initiated and the inquiry culminated into arrests and recoveries of Rs134.339 ... Read More »

National Financial Literacy Program milestones achieved: SBP

KARACHI: The National Financial Literacy Program (NFLP) of the State Bank of Pakistan (SBP) completed its third year at the end of FY20 with all the targets surpassing for the fiscal year, despite the outbreak of COVID-19 pandemic since March 2020, according to a statement released by SBP. According to details, in order to address the challenge of financial exclusion, ... Read More »

Business Confidence Score in Pakistan stands at negative 50pc: OICCI

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) shared the results of its Business Confidence Index (BCI) Survey – Wave 19, which shows that the overall Business Confidence Score (BCS) in Pakistan stands at negative 50 percent. This is a further drop by 5 percent from the already negative 45 percent score in Wave 18 Survey conducted in August ... Read More »

Customs court approves physical remand of suspect in HSD oil smuggling case

KARACHI: The Customs Court sent suspect namely Muhammad Bakhtiar son of Muhammad Maqbool to customs lock-up on physical remand, who is booked in a case of attempting to smuggle non-duty paid 60,000 liters foreign origin (Iranian) high speed diesel worth Rs6,084,000. On 30 July 2020, investigation officer of Directorate General, Intelligence & Investigation-Customs submitted first information report and also produced ... Read More »

COVID-19: SBP reverts to normal timings from today

KARACHI: The State Bank of Pakistan (SBP) reverted to its normal office timings on Monday, August 3. According to a circular from the central bank, the SBP will operate from 9:00am-5:30pm, from Monday to Thursday, with a prayer/lunch break from 1:30pm-2:15pm. However, the bank shall remain open from 9:00am-6:00pm, on Fridays, with lunch/prayer breaks kept from 1:00pm-2:30pm, the circular stated. ... Read More »

COVID-19: SBP reverts to normal timings from today

KARACHI: The State Bank of Pakistan (SBP) reverted to its normal office timings on Monday, August 3. According to a circular from the central bank, the SBP will operate from 9:00am-5:30pm, from Monday to Thursday, with a prayer/lunch break from 1:30pm-2:15pm. However, the bank shall remain open from 9:00am-6:00pm, on Fridays, with lunch/prayer breaks kept from 1:00pm-2:30pm, the circular stated. ... Read More »

2.24pc decrease in vegetable exports during FY 2019-20: SBP

KARACHI: The exports of vegetables products from the country witnessed decrease of 2.24 percent during fiscal year 2019-20 as compared to the corresponding period of last year. Pakistan exported vegetables products worth $ 3309.086 million during July-June (2019-20) against the exports of $ 3384.939 million during July-June (2018-19), showing nominal decreased of 2.24 percent, according to the data issued by ... Read More »

Banks to observe normal working hours from tomorrow

KARACHI: State Bank of Pakistan (SBP) has said that the banks will observe normal working hours from August 03, 2020. In a statement issued a day earlier, the central bank said that the SBP will revert to normal office timings from Monday, August 03, 2020. The timings shall be: Monday to Thursday: 09:00am to 05:30pm (with prayer/lunch break from 01:30pm ... Read More »

Customs court approves after arrest bail of suspect in contraband goods smuggling case

KARACHI: The Customs Court granted after arrest bail to suspect namely Fida Hussain son of Inayat Ullah Khan against the surety of Rs100,000 and directed him to appear before the court on next date of hearing without fail, who is booked in a case of attempting to smuggle non-duty paid 20,000 liters foreign origin (Iranian) high speed diesel worth Rs2,037,600. ... Read More »

Customs Court approves remand of suspect in betel nuts smuggling case

KARACHI: Investigation officer of Customs Collectorate Enforcement & Compliance produced a suspect namely Shahzad son of Muhammad Hashim, occupant driver of Hino Mini truck before the Customs Court Karachi, who was arrested in a case of attempting to smuggle non duty paid foreign origin betel nuts. On 31 July 2020, investigation officer of MCC Enforcement & Compliance produced the above ... Read More »

Pre-Covid stabilisation measures helped cushion virus-induced

KARACHI: The State Bank of Pakistan (SBP) on Thursday, released its Third Quarterly Report FY20 on ‘The State of Pakistan’s Economy’. According to the report, successful stabilisation measures that had fostered macroeconomic improvement in July-February FY20 provided a valuable cushion against the downturn faced from late March 2020 onward in the wake of the Covid-19 outbreak. In particular, major progress ... Read More »

SBP foreign reserves decline by US$146m after successive increase

KARACHI: After a successive increase in foreign reserves during the past weeks, the State Bank of Pakistan (SBP) on Thursday announced a decline in the reserves by United States Dollar (USD) 146 million. According to the details of liquid foreign reserves held by the country, the central bank said that currently, the total reserves stood at US$ 18,912.2 million on ... Read More »

Appraisement East submits FIR against M/s R.A Agency in customs court

KARACHI: Collectorate of Customs Appraisement & Facilitation East submitted first information report (FIR) before the customs court against Anil, proprietor of M/s R.A Agency, Sajid Ali and others, who were nominated in a case of attempting to submission of fake proceeds realization certificate as well as fake verification letter to obtain clearance of used vehicles. On 29 July 2020, investigation ... Read More »

Customs I&I foils bid to smuggle betel nuts worth Rs9.3m

KARACHI: Directorate General of Customs Intelligence and Investigation (I&I) foiled an attempt to smuggle huge quantity of betel nuts worth Rs9.3 million. Sources told that information was received at the Directorate General of Intelligence & Investigation regarding movement of huge quantity of smuggled betel nuts for its illegal sale and disposal in the open market at Karachi. In pursuance of ... Read More »

SBP issues instructions for promotion of Islamic Banking

KARACHI: Keeping in view the significant potential of Islamic Banking Windows (IBWs) in enhancing the share and outreach of Shariah compliant financial services and increase in financial inclusion, SBP has issued today revised instructions for banks to expand the scope of operations of IBWs. IBWs can now offer all types of financing products to their customers including Corporates, SMEs, agriculture, ... Read More »

SHC directs customs officials to consider request of M/s Jyoti Corporation

KARACHI: The Sindh High Court (SHC) directed collector of customs Appraisement East/West/PMBQ to consider request of the petitioner for provisional release of its consignment strictly accordance with the law on a constitutional petition filed by M/s Jyoti Corporation seeking release order of its imported consignment of spices and nutmeg, black pepper. On 28 July 2020, a two-member bench also directed ... Read More »

Customs court approves remand of suspects in electronics goods smuggling case

KARACHI: The Customs Court approves physical remand of suspects namely Muhammad Atiq son of Muhammad Shafiq, Muhammad Arif son of Riaz Ahmed who were nominated in a case of attempting to smuggle non-duty paid contraband goods worth Rs8,886,070. On 28 July 2020, investigation officer of Customs Preventive Jinnah International Airport (JIAP) produced the above mentioned suspects before the court and ... Read More »

Bank holidays announced for Eid-ul-Adha

KARACHI: State Bank of Pakistan (SBP) on Monday said that the central bank will remain closed from July 31, 2020 to August 02, 2020 (Friday to Sunday) on occasion of Eid-ul-Adha. The commercial banks shall also observe the same holidays announced by the SBP on the occasion of Eid-ul-Adha. Read More »

SHC directs to release consignment imported by M/s Aamir Int’l on bank guarantee

KARACHI: A division bench of the Sindh High Court (SHC) directed collector of Customs Appraisement East/West/PMBQ to consider request of the petitioner for provisional release of its consignment strictly in accordance with the law and such progress report be furnished to this court on next date of hearing on a constitutional petition filed by M/s Aamir International seeking release order ... Read More »

M/s Saqib Leather Store moves SHC seeking release of consignment detained by customs officials

KARACHI: M/s Saqib Leather Store has approached the Sindh High Court (SHC) and filed a petition seeking release of its consignment comprising PU artificial leather/woven/non-woven detained by customs officials due to disputed valuation ruling. On 25 July 2020, counsel for the petitioner submitted in his constitutional petition that petitioner’s company is engaged in the import of the PU artificial leather/woven/non-woven ... Read More »