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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

Customs Court acquits representatives of M/s M.A Impex & M/s Toheed Brothers in mis-declaration scam

KARACHI: The Customs Court approved application under section 265-K Cr.P.C and acquitted suspects namely Muhammad Umair, Muhammad Toheed Malik and Hammad Khan, who were nominated in first information report for mis-declaration of description, HS Code/ quantity, weight and value. On 9 December 2020, court released the judgment, according to which court observes that “there is no probability of the convocation ... Read More »

Customs Preventive seizes smuggled betel nut, processing machines worth Rs20m

KARACHI: Collectorate of Customs Preventive Anti-Smuggling Organization (ASO) recovered huge quantity of smuggled betel nut along with other goods in North Karachi. Sources told that Collector Saquif Saeed received credible information about illegal manufacturing of betel nuts. He immediately directed Additional Collector Haroon Malik to take necessary measures in this regard. Customs anti-smuggling squad headed by Superintendent Iftikhar Hasan raided ... Read More »

Govt halts sale of Rs25,000 denomination prize bonds

KARACHI: The government has stopped the sale of prize bonds of Rs25,000 denomination with immediate effect and the same shall not be encashed / redeemed after May 31, 2021, State Bank of Pakistan (SBP) said on Thursday. The SBP said that the finance ministry had already issued instructions in this regard a day earlier. The ministry also announced the issuance ... Read More »

Rs40,000 premium prize bonds investment records 21pc growth

KARACHI: Investment in premium Rs40,000 prize bonds has seen a growth of 21% to Rs20.54 billion by the end of October 2020, compared with Rs16.93 billion in the same period of the last fiscal year, according to Central Directorate of National Savings (CDNS) data. The premium prize bonds were launched by the government close to three-and-a-half years ago in April ... Read More »

Customs Court frames charge against suspect booked in contraband goods smuggling case

KARACHI: The Customs Court framed charge against suspect namely Waseem Imtiaz Ali son of Imtiaz Ali, owner of contraband goods, who was booked in smuggling of 17, 105 kg foreign origin Katha worth Rs17,105,000 and 2820 kilogams of Wangsa Kristal Palm Fat worth Rs212,064. On 8 December 2020, above mentioned suspect appeared before the court along with his counsel and ... Read More »

SHC issues notices to OGRA, SSGC over gas shortage

KARACHI: The Sindh High Court (SHC) issued notices to Oil and Gas Regulatory Authority (OGRA), Sui Southern Gas Company (SSGC) and others on a petition of against the shortage and closure of gas in the province. The petitioner stated that Punjab is producing 4pc, Balochistan 19pc and KP only 9pc, while Sindh produces 68pc of the total gas consumed by ... Read More »

SBP extends date for Rs40,000 prize bonds withdrawal up to Dec 30

KARACHI: State Bank of Pakistan (SBP) on Tuesday announced extension in date for encashment, replacement and conversion of unregistered Rs40,000 denomination prize bonds. The SBP said that the date for withdrawal of the prize bonds had been extended up to December 30, 2021. The central bank said that the Finance Division, Government of Pakistan has extended the last date for ... Read More »

M/s Fast Track Projects & Logistics moves SHC against demand notice for additional security guarantee of US$0.5m

KARACHI: M/s Fast Track Projects & Logistics Private Limited has approached the Sindh High Court (SHC) and filed a constitutional petition against demand notice for required an additional security guarantee of US$ 0.5 million by Deputy Collector Bonds  Port Muhammad Bin Qasim. On 7 December 2020, counsel for the petitioner stated that Deputy Collector Bonds MCC Port Muhammad Bin Qasim ... Read More »

Customs Court approves bail to suspects booked in diesel smuggling via deep sea

KARACHI: The Customs Court granted after-arrest bail to suspects namely Syed Umer, Noor Muhammad Khan, Rahat Khan, Farman Ali, Momin Khan, Aziz Khan, Zahid Rehmat and Wajid Ali, who were nominated in a case of smuggling of 40,000 liter diesel oil via deep sea. On 7 December 2020, counsel for the accused appeared before the court and moved bail applications ... Read More »

Customs I&I foils attempt to smuggle betel nuts from Sakran to Karachi

KARACHI: Directorate of Customs Intelligence and Investigation (I&I) has seized huge quantity of smuggled betel nuts. Sources told that Directorate of Customs Intelligence and Investigation (I&I) Director Yaqoob Mako received credible information regarding smuggling of betel nuts from Sakran to Karachi. He immediately directed Additional Director Rana Tasleem to take necessary measures to thwart any attempt of smuggling. Deputy Director ... Read More »

Namaz-e-Janaza of late Siraj Teli at Masjid-e-Saheem on Dec 10

KARACHI: The spokesman of Karachi Chamber of Commerce & Industry (KCCI) said that t Namaz-e-Janaza of late Siraj Kassam Teli (SI), Chairman Businessmen Group, former President KCCI & Director Pakistan Beverage Limited (Pepsi Cola), who passed away in Dubai on Tuesday, December 8th, 2020 due to cardiac arrest, will be held on Thursday, 10th December 2020 at 10:00AM at Masjid ... Read More »

Banks to observe extended working hours today to facilitate taxpayers

KARACHI: State Bank of Pakistan (SBP) directed banks to observe extended banking hours on December 08, 2020 for facilitating taxpayers in payment of duty and taxes. It is worth mentioning that the December 08, 2020 is last date for filing annual return of income for tax year 2020 and taxpayers will need banking services to pay their challans for completing ... Read More »

Tax evasion: Customs Court seeks progress report against owner of M/s A. M Enterprises

KARACHI: The Customs Court directed investigation officer to complete investigation and submit progress report against suspect namely Muhammad Uzair Ahmed Maniya, owner of M/s A. M Enterprises for committing sales tax evasion of Rs3.947 million. On 5 December 2020, investigation officer of Deputy Commissioner Inland Revenue, II&P Cell, Zone-I, Regional Tax Office-III, Karachi appeared before the court and informed the ... Read More »

Siraj Qasim Teli dies of heart attack

KARACHI: Former President of the Karachi Chamber of Commerce and Industry (KCCI) Siraj Kassam Teli passed away in Dubai on Tuesday. According to media, the businessman had been diagnosed with pneumonia and was under-treatment at a hospital in the Emirates. Born in 1953, Teli graduated from Karachi’s Government Commerce College in 1974. The businessman was awarded Sitara-e-Imtiaz by the government ... Read More »

SHC seeks reply on petition filed by M/s Ayaan Enterprises challenging VR No 1456/2020

KARACHI: A division bench of the Sindh High Court (SHC) issued notices to the customs officials and directed them to file their para wise comments on a constitutional petition filed by M/s Ayaan Enterprises challenging and for staying the operation of the impugned valuation ruling no 1456/2020. On 7 December 2020, during the hearing, counsel for the petitioner stated that ... Read More »

M/s Dawn Convertic Private Limited approaches SHC against VR 1467/2020

Valuations Rulings - Pakistan Customs Today News Paper

KARACHI: M/s Dawn Convertic Private Limited and M/s Dawn Paper Mart have approached The Sindh High Court (SHC) and filed a constitutional petition challenging valuation ruling 1467/2020 issued by director valuation ruling. On 5 December 2020, counsel for the petitioner’s stated that petitioners are entities and regular importer of papers since long and pay the duties and tax regularly, previous ... Read More »

KCCI seeks extension in IT returns

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) M. Shariq Vohra has requested the government to extend the last date for filing Income Tax returns up to January 31, 2021 as many taxpayers have not been able to file their returns on time due to COVID-19 pandemic. In this regard, President KCCI has written a letter to Prime Minister ... Read More »

Mis-declaration: Customs Court approves interim pre-arrest bail to owner of M/s Rempex Trading

KARACHI: The Customs Court granted interim pre-arrest bail to suspect Santosh Kumar son of Parkash proprietor of M/s Rempex Trading, who was nominated in mega mis-declaration scam. In 4 December 2020, during the hearing, the above mentioned suspect appeared before the court along with his counsel, who argued that his client is innocent and has been falsely implicated in this ... Read More »

M/s Durt Apparels moves SHC against detention of woven microfiber fabric’s consignment

KARACHI: M/s Durt Apparels has approached The Sindh High Court (SHC) and filed a constitutional petition against detention of its imported consignment of polyester woven microfiber fabric weighing 11.184 on the basis of valuation ruling no 1301/ 2018 dated May 04, 2018. On 4 December 2020, during the hearing, counsel for the petitioner stated that petitioner is duly registered association ... Read More »

Liquor smuggling case: Customs Court extends interim pre-arrest bail to MNA Roshan Junejo & others

KARACHI: The Customs Court extended interim pre-arrest bail to suspect Roshan Junejo, Member National Assembly (MNA) of Pakistan People Party (PPP), his son of Ghayas Junejo, Sajawal Junejo, Navaid Yamin, Muhammad Aman Tariq, Rubina Gill, Khurram Dawood, Khurram Hussain Naqvi partner of M/s World Ocean Centre, Muhammad Sohail clearing agent, partner of M/s World Ocean Centre and others and fixed ... Read More »