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China willing to boost trade ties with Malaysia

BEIJING: China is willing to cooperate with Malaysia in areas including bilateral trade and infrastructure construction to benefit the people of both countries, President Xi Jinping said on Tuesday. Both nations are trustworthy neighbors and partners with mutual respect, Xi said while meeting with Malaysian Prime Minister Najib Razak in Manila on the sidelines of the APEC meeting. Deepening cooperation ... Read More »

China’s investment in Africa shrinks 40% to $1.19bn in H1

BEIJING: China’s investment in Africa collapsed in the first half of this year, but may remain robust in the long run, according to the Ministry of Commerce (MOC) on Tuesday. China’s direct investment in Africa stood at $1.19 billion in the first six months, falling over 40 percent year on year, said MOC spokesperson Shen Danyang. The investment slowdown is ... Read More »

China’s coal consumption downs 4.7% YoY to 3.23 billion tons in Jan-Oct

BEIJING: China’s coal consumption continued to decrease in the first ten months this year, according to the China National Coal Association (CNCA) on Tuesday. Coal consumption hit 3.23 billion tons during the January-October period, down 4.7 percent year on year, continuing a downward trend that began last year, according to CNCA data. Economic slowdown, rapid growth of non-fossil fuel and ... Read More »

ANF seizes 70kg heroin, 76kg opium worth Rs554m

ISLAMABAD: The Anti-Narcotics Force (ANF) has foiled a bid to smuggle Rs554 million worth of drugs, including 70kg heroin and 76kg opium abroad at Port Qasim. The ANF Karachi Seaport Team captured a Canada-bound container No MRKU-5267523 at International Container Terminal at Port Qasim, Karachi. The search of the container led to a seizure of 70 kg heroin and 76 ... Read More »

Saudi authorities arrested 1,776 drug smugglers in 8 months

RIYADH: Saudi authorities have seized 22.4 million amphetamine pills and arrested 1,776 drug smugglers during the last eight months of the past Hijri year, the Interior Ministry announced. Giving a breakdown of the latest statistics on its anti-drug trafficking operations, the ministry said there was a marked drop in drug smuggling attempts during the last Hijri year, which ended in ... Read More »

China home prices rise for 1st time in 14 months in Oct

BEIJING: Home prices in China rose for first time in over a year in October on an annual basis, signalling a housing market stabilisation that could help re-energise the listless economy. Average new home prices rose 0.1 per cent in October from a year earlier, Reuters calculated from National Statistics Bureau(NBS) data out on Wednesday (Nov 18), reversing September’s 0.9 ... Read More »

Chief Collector Rozi Khan Burki greets Customs Hockey team

LAHORE: Customs Central Region Chief Collector Rozi Khan Burki and Collector of Customs Lahore Preventive Mukarram Jah Ansari have felicitated Lahore Customs Hockey team for exhibiting outstanding performance during PT Yaqoob Baqi Tournament. The Customs Hockey team management handed over the shield to the winner team to the chief collector in a special function held here. On the occasion, Rozi ... Read More »

New FBR Chairman Nisar Khan pledges to end corruption

ISLAMABAD: Federal Board of Revenue newly appointed Chairman Nisar Muhammad Khan is determined to continue the war against corruption, besides making the effective and strict accountability system. Khan said that measures will be taken in order to improve the tax collection and tax system as well. He also pledged to enforce the tax laws completely in country. He stated this ... Read More »

FBR Chairman Nisar, Member Customs Masroor for meeting tax targets

ISLAMABAD: Newly appointed Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan and Customs Member Masroor Ahmad reviewed the suggestions to meet the revenue target set for Pakistan Customs and elimination of corruption. Both high ups held a detailed meeting and discussed various matters relating to customs here on Tuesday at FBR House, Islamabad. Sources said that some important changes ... Read More »

Dr Irshad, Rehmatullah Khan Wazir posted at key FBR posts

KARACHI: The Federal Board of Revenue (FBR) has appointed Dr Muhammad Irshad (BS-21) as member Inland Revenue (IR) Islamabad and Rehmatullah Khan Wazir (BS-21) as member Inland Revenue (IR). As per details, both officials have served in different areas of country, including Karachi. Dr Irshad at first served as Chief Commissioner Regional Tax Office (RTO) Lahore. As chief Commissioner RTO ... Read More »

Customs Intelligence seizes 31,900 liters diesel, 2 oil tankers, 4 vehicles worth Rs 10m

KARACHI: The Directorate General Customs Intelligence and Investigation has seized contraband Iran origin 31,900 liters of diesel from a godown on Tuesday. According to the details, the staff of anti-smuggling under supervision of Assistant Director Kaleemullah has intensified the crackdown on the smugglers and seized contraband 31,900 liters of Iranian diesel from a godown situated at Northern Bypass near Lucky ... Read More »

Nisar Khan officially holds office of FBR chairman

ISLAMABAD: After relinquishing charge from the post of chairman by Tariq Bajwa, Nisar Muhammad Khan has held the office of the Federal Board of Revenue (FBR) chairman and started to perform his duties, while the Masroor Ahmad has taken the charge of member customs. However, three other transferred officials including Inland Revenue Policy Member Shahid Hussain Asad, Administration Member Shahid ... Read More »

Bajwa highlights FBR’s achievements

ISLAMABAD: Federal Board of Revenue achieved several milestones as the country’s tax-to-GDP ratio crossed 11 per cent and the number of taxpayer is going to cross one-million mark for the first time. This was revealed by outgoing FBR Chairman Tariq Bajwa, while addressing a ceremony held in his honour at FBR headquarters. Bajwa also paid tributes to Board’s officers for ... Read More »

Customs Tribunal Chairman Murtaza calls Technical Member Yahya for hearing cases

  ISLAMABAD: Customs Appellate Tribunal Chairman Ghulam Murtaza Bhatti has called Technical Member Muhammad Yahya to hear cases in a Division Bench. According to the sources, the chairman has called Yahya, Member Technical from Karachi, to form bench with him during his visit on November 23. Earlier, tribunal’s division bench had become dysfunctional as Member Technical; Khalid Mehmood had to ... Read More »

Customs Court hears 40 cases on Tuesday, including smuggling, narcotics

LAHORE: The Special Court of Customs Taxation and Anti-Smuggling heard 40 important cases on Tuesday and issued necessary orders and directions in number of  cases. On Tuesday, 40 cases of different types were scheduled for hearing, including 13 pre-arrest bail pleas of accused persons Shaukat Ali, Muzafar Ali, Muhammad Qasim, Ihsan Elahi, Malik Siraj, Abdul Qayyum, Muhammad Atique, Muhammad Faisal, ... Read More »

FBR withdraws Royal Weaving Factory’s zero rating facility on electricity

KARACHI: The Federal Board of Revenue (FBR) has withdrawn the facility of zero rating on supply of gas to Royal Weaving Factory by making amendment in Sales Tax General Order 09/2007 dated 13.9.2007. According to a notification No C.No.4(10)ST-L&P/2015 – 154400, issued by Secretary-IR-ST&FE, Tariq Hussain Shaikh that read as: “In exercise of powers conferred by clause (d) of section ... Read More »

M/s Reckitt Benckiser Pakistan availing ‘illegal’ customs concessions: PCA

KARACHI: The Directorate of Post Clearance Audit (PCA), Karachi has detected short-paid tax to the tune of Rs 5 million by M/s Reckitt Benckiser Pakistan Limited by availing benefits and customs concessions on import of LED tube-lights and LED bulbs. According to sources, PCA Directorate Karachi, on scrutiny/audit of import data, found that M/s Reckitt Benckiser Pakistan Limited had imported ... Read More »

FBR directs Customs, IR to fill in new proforma to put tax evaders’ names on ECL

KARACHI: The Federal Board of Revenue (FBR) has instructed the Pakistan Customs and Inland Revenue (IR) to fill the new proforma which issued to them for inclusion of the names of tax evaders amd smugglers into the Exit Control List (ECL), Customs Today has learnt. Sources told Customs Today that Ministry of Interior had recently issued a new proforma to ... Read More »

Customs Court adjourns till December 5

KARACHI: The Special Court of Customs Taxation and Anti-Smuggling on Tuesday adjourned till December 5 the bail confirmation plea of a suspect in a case pertaining to the smuggling of 34 tons of poppy seed to Malaysia. Judge Syed Faiz Rasool Rashdi adjourned the hearing due to absence of the counsel for the accused Sarfaraz Mirani who was released on ... Read More »

DG Customs Imtiaz Ahmed Khan praises performance of Multan region  

MULTAN:  Imtiaz Ahmed Khan, the newly appointed Director General (DG) of Customs Intelligence and Investigation (I and I), has praised the performance of Multan region in respect of controlling smuggling in the South Punjab. He urged the officials to put their best efforts to break the organized networks of smugglers. He expressed his views during his address to combined meeting to directors ... Read More »