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IOCO to deal with SRO 565(I)/2006 from now onwards

KARACHI: Federal Board of Revenue has now authorized and conferred Input-Output Co-efficient Organization (IOCO) of Pakistan Customs for the implementation of Statutory Regulatory Order (SRO) 565(I)/2006. FBR has decided to confer powers relating to the SRO 565(I)/2006 to IOCO. Earlier, Model Customs Collectorate of Appraisement-West was dealing with the said SRO. The SRO 565(I)/2006 deals with the prime obligations linked ... Read More »

ANF foils heroin smuggling bid at Islamabad airport

ISLAMABAD: The Anti-Narcotics Force (ANF) foiled a bid of heroin smuggling at Benazir Bhutto International Airport and arrested an accused. According to the ANF, a passenger identified as Abid Sharif, a resident of Lahore, was arrested after he was caught with 60 capsules filled with heroin. He was trying to smuggle heroin to Abu Dhabi. Meanwhile, the ANF also recovered ... Read More »

Customs Intelligence foils bid to smuggle items worth Rs80m

LAHORE: Directorate of Intelligence and Investigation-Customs has confiscated four trucks fully loaded with smuggled goods and articles worth Rs 80 million in Lahore. Official sources said that the Directorate of Intelligence and Investigation-Customs, Lahore seized articles including Plastic granules, auto parts, air conditioners, chains of motorcycles and miscellaneous goods from the trucks. They added that the directorate launched an FIR ... Read More »

Tax officials bemoan non-promotion

KARACHI: The officers of the Federal Board of Revenue (FBR) bemoaned the dropping of their names from the list of promotion from BS-19 to BS-20. They contended that some elements in the PM Secretariat were giving wrong information about the integrity of the officials. Most of the officers belonging to Inland Revenue Service (IRS), Pakistan Customs Service (PCS), Karachi tax ... Read More »

Unprecedented: FTO directs action against ATIR members

ISLAMABAD: What is being described as unprecedented, the Federal Tax Ombudsman (FTO) directed the Appellate Tribunal Inland Revenue (ATIR) Registrar to initiate appropriate action under the law to reverse / modify the orders passed by some ATIR members. Instead of accepting the complaint, the FTO rejected the review application for being incompetent with the order that separate Contempt proceedings shall ... Read More »

Pak-Sino review meeting: Rehab of ML-1 railways track to figure high in talks

ISLAMABAD: The government is reviewing the possibility of rehabilitating the Karachi-Lahore-Peshawar (ML-I) railway track with Chinese assistance in an effort to ship imported and domestic coal from Sindh for generating about 8,000 megawatts of electricity in Punjab. The rail link is part of mega development schemes that will be discussed with Chinese authorities during the upcoming meetings in connection with ... Read More »

Customs clearance gets tougher at Islamabad dry port

ISLAMABAD: Assistant Collector of Islamabad Dry Port Yawar Nawaz has made it mandatory for consignments of imported fabrics to go through laboratory testing while strictly directing the staff at the dry port to ensure that the procedures of customs clearance are being properly followed. As per directives, the duties/taxes levied on the import of textile fabrics will be subject to ... Read More »

IMF okays 4th tranche of EFF for Pakistan

ISLAMABAD: The International Monetary Fund (IMF) approved the fourth tranche worth of $555.9 million under three-year Extended Fund Facility (EFF) for Pakistan. As per details, the International Monetary Fund (IMF) Executive Board completed the third review of Pakistan’s economic performance under the EFF arrangement. The completion of the review enables an immediate disbursement of an amount equivalent to SDR 360 ... Read More »

PAAPAM cries foul at rising under-invoicing

LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has regretted at the ever-increasing smuggling and under-invoicing of auto parts and accessories, saying that the under-invoicing has been affecting the local spare parts manufacturing sector, depriving the the national exchequer of billions of rupees revenue. According to PAAPAM Chairman Usman Malik, the Federal Board of Revenue (FBR) must ... Read More »

Fate of fabric importers to be strictly tied to lab reports: Collector Saleem

KARACHI: Model Customs Collectorate of Appraisement-West Collector Muhammad Saleem has made it clear that the fate of fabric importers, involved in mis-declaration in the consignments of textile fabric would be decided strictly according to laboratory reports. He stated this while talking to Customs Today exclusively. On the occasion, Collector of MCC Appraisement-West confirmed that around 50 consignments were still in ... Read More »

FTA/PTA certificates: Chief Collector for addressing importers’ issues

KARACHI: Chief Collector of Appraisement-South Nasir Masroor Ahmed has asked the officers concerned to ensure solution of the issues faced by the genuine importers in dealing with PTA/FTA certificates. It may be mentioned here that the importers were facing problems pertaining to PTA and FTA signed with Indonesia, Malaysia and Singapore. Karachi Chamber of Commerce and Industry (KCCI) President Aamir ... Read More »

Dar seeks Saudi aid for development projects

ISLAMABAD: Finance Minister Senator Ishaq Dar held a meeting with Saudi Finance Minister Ibrahim bin Abdulaziz bin Abdullah Al-Assaf at Jeddah on Friday and discussed with him matters pertaining to provision of Saudi funding for new viable development projects in Pakistan. According to a message received here from Jeddah, Finance Minister Ishaq Dar thanked Minister Assaf for continued Saudi support ... Read More »

LHC fines petitioner for misleading against FBR

LAHORE: Lahore High Court has imposed a fine of Rs 100,000 on a petitioner for misleading the court about Federal Board of Revenue. Justice Ijaz ul Ahsan passed the orders while hearing a petition filed by Rana Ashiq Ali During the case hearing, the petitioner Rana Ashiq Ali alleged that Federal Board of Revenue was not providing certified copy of ... Read More »

Chief Collector reviews MCC Preventive’s performance

KARACHI: Chief Collector of Enforcement-South Muhammad Nazim Saleem has held a meeting with the officers of Preventive Collectorate to review the measures taken in regard to various anti-smuggling activities and revenue generation. The meeting was attended by the MCC Preventive Collector Syed Muhammad Tariq Huda, Additional Collector-Headquarters-I Shafqat Ali Khan Niazi, Assistant Collector Headquarters-I Muhammad Wasif Malik and others senior ... Read More »

Customs seizes smuggled ball bearings worth Rs12.5m during routine check

ISLAMABAD: In an Anti-smuggling activity, Directorate of Intelligence and Investigation-Customs, Rawalpindi has taken into custody smuggled ball bearings worth 12.5 million rupees. The estimated levy of duties/taxes on the same ball bearing was supposed to be at 2.2-2.7 million rupees. As per details officials of the directorate were checking vehicles on the road in their usual manner when a Mazda ... Read More »

Regional integration for businesses in South & Central Asia stressed

KARACHI: It is vital that each country maintains its sanctity and operates under its defined boundary nonetheless like EU. It is high time that countries in South Asia and Central Asia should coordinate effectively to support the economic horizons across the region. This was enforced by PAJCCI’s Co-President and Delegation Leader to Tajikistan, Muhammad Zubair Motiwala while addressing the session ... Read More »

World Narcotics Day observed in Multan

MULTAN: World Anti Narcotics Day was celebrated to spread awareness about drugs in Multan. Deputy Collector Customs Dr Muhammad Ali was present on the occasion and said that such an activity gives clear message to people that law enforcement agencies will not tolerate drug trafficking in the region. He said that health is the ongoing subject matter of the world ... Read More »

Chairman TDAP urged to restore facility of freight subsidy

LAHORE: Pakistan Industrial & Traders Associations Front (PIAF) has presented a 5-point facilitation agenda aimed at getting full advantage of GSP Plus status to Pakistan by the European Union. The 5-point agenda was presented by the Chairman PIAF Malik Tahir Javed while addressing a meeting of export related Standing Committee. Chairman PIAF said that GSP Plus Status to Pakistan by ... Read More »

Customs to remain open on weekends till 8pm, Monday till midnight

KARACHI: Federal Board of Revenue through a letter C.No.2 (1) L&P/07 has issued directives that all Customs Houses and other subordinate offices of Model Customs Collectorates shall remain open on Saturday June 28 and Sunday June 29 till 8:00 pm and will remain open on Monday June 30 till 12:00 midnight. The letter further elaborated that the State Bank of ... Read More »

FBR promotes 9 senior PCS officers to Grade 20

ISLAMABAD: Federal Board of Revenue has announced promotion of nine Grade 19 officers of Pakistan Customs Service to Grade 20. A notification issued in this regard states that the officers of Pakistan Customs Service are promoted to BS-20 with immediate effect. The officers promoted include Suraiya Ahmad Butt, Dr. Naeem Khan, Mukarram Jah Ansari, Qurban Ali Khan, Asif Mahmood Jah, ... Read More »