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Tag Archives: Custom

Finance Ministry blames sit-ins for rupee depreciation, debt increase

KARACHI: The ongoing political impasse has resulted in depreciation of rupee and the ongoing sit-ins of the Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek have forced foreign dignitaries to postpone their visits to Pakistan, according to the Finance Ministry. It is feared that prices of essentials will go up due to destruction of standing crops and increase in imports. This has ... Read More »

Rs 116.23 million tax evasion: Another ONO issued against PTCL

KARACHI: Another Order-in Original (ONO) against M/s Pakistan Telecommunication Company Ltd (PTCL), its clearing agent M/s Eastern Freighter Services and M/s Huawei Technologies Pakistan (Pvt) Ltd in alleged tax evasion to the tune of Rs116,228,110 on import of telecommunication equipments through mis-declaration and concealment of actual CFR/import value of goods. The Collector of the Collectorate of Customs Adjudication-I has also ... Read More »

Weekly review: Bears rally at KSE causes 334 points slump

KARACHI: The Karachi Stock Exchange (KSE) 100-index has lost 334.51 points in the weeklong trading, as it opened at 30015.8 points on Monday and closed at 29681.29 points on Friday. On Monday, the first day of trading, KSE lost 21.93 points to stand at 29993.87 points as the country has been facing multifarious challenges these days. Earlier on Monday, the ... Read More »

Closing: Bears chase KSE, week ends on 259 points loss

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 258.98 points to stand at 29681.29 points and volume of 86,490,530 shares on last day of trading, Friday, as the routine life in Karachi came to a halt after MQM chief Altaf Hussain asked his workers to stage sit-ins across the city following the arrest of workers. Earlier, 100-index witnessed fluctuation in trading ... Read More »

Anti-Dumping Duties

China’s emergence as an economic power has threatened indigenous industries all over the world and many governments have stepped up their efforts to ward off economic threats to their industries at home. In a normal situation, every government encourages the import of different items from foreign countries to meet the local requirements, but restrictions are also imposed on the import ... Read More »

Closing: KSE further plunges 155 points on Thursday

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 155.53 points to stand at 29940.27 points and volume of 5,708,428,194 shares on Thursday, as the market added to yesterday’s losses. Earlier, the market opened on a negative note and kept on losing points, as the bearish trends added to the overnight losses. The stocks could not gain momentum as profit-taking took ... Read More »

Rs 333 million goods imported from India via Wagha Border

LAHORE: Pakistan has imported items worth Rs 333 million between September 15 and 21 from India via the Wagha border. According to available documents, the major items were potatoes, tomatoes, garlic, cake-oil, polyethylene and cotton yarn. The documents also read Pakistan imported potatoes worth Rs 19.8 million during the last week. No duty has been imposed on the import of potatoes from India ... Read More »

Closing: KSE loses momentum, closes at 30095.80 points

KARACHI: Karachi Stock Exchange (KSE) 100-index lost 47.97 points to stand at 30095.80 points and volume of 103,676,850 shares on Wednesday, as the market could not sustain yesterday’s gains of 149 points. Stocks market opened at the overnight closing of 30143 points and consolidated its early rally and benchmark KSE-100 index kept on upwards march to gain 183 points to ... Read More »

Multan E&T Officer Waqar Kiyani takes charge

MULTAN: Multan Excise and Taxation (E&T) Officer Waqar Ahmad Kiyani took charge of his office. Earlier, Kiyani was working in the Excise and Taxation office in Rawalpindi. He is optimistic that the department will achieved the set targets. The Multan Excise and Taxation Department is running a campaign for collection of taxes before September 30. The Multan Excise and Taxation ... Read More »

Closing: KSE gains 149 points, ends above 30,000 mark

KARACHI: Karachi Stock Exchange (KSE) 100-index gained 149.90 points to close at 30143.77 points on Tuesday, amid the confusions and concerns which have been haunting the market for past few days. Earlier, in the morning, the investors started trading very carefully, keeping current political standoff in mind, due to which KSE 100-index shed 21 points to stand at 29972.87 points ... Read More »

Over 10 million iPhones sold in 3 days: Apple

London: Apple Inc Chief Executive Tim Cook has disclosed that the company has sold over 10 million iPhones in the first three days of its newly-launched models . In a statement on Tuesday , Chief Executive Tim Cook said the company launched its new model on last Friday and it could sold more new models of iPhone 6 and iPhone ... Read More »

Chief Collector Nasir Masroor transfers 10 low-rank staffers

KARACHI: Customs Appraisement-South Chief Collector Nasir Masroor ordered immediate transfers and postings of 10 subordinate employees on September 20. The employees include four upper division clerks (UDC), four lower division clerks (LDC) and two record sorters. Four have been transferred from the Directorate of Post-Clearance Audit (PCA) while another four have been transferred to the PCA. Qutubuddin, UDC; Javed Awan, ... Read More »

Closing: KSE plunges further on start of week

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 21.93 points to stand at 29993.87 points on the first day of trading on Monday, as the country has been facing multifarious challenges these days. Earlier, the market started the week on a positive note and went up 34 points or 0.11 percent to reach 30049.91 points in morning session. However, the ... Read More »

Importers wary of smuggling via ATT, discriminatory valuation guidelines

  KARACHI: Importers have once again expressed deep concerns over significant decline in trade activities due to alleged discriminatory implementation of valuation guidelines. The importers of Karachi, while sharing their views with Customs Today, said that the shifting of trade from Karachi port to dry ports in other cities is continued due to a significant difference in the customs values of ... Read More »

Importers face losses due to mismanagement at ports

KARACHI: The traders and importers have expressed concerns over filing of Import General Manifest (IGMs) by Shipping Lines and Port authorities, as the importers were paying hefty amount in form of demurrage and detention to the shipping lines due to alleged inefficiency of the authorities concerned. The importers were of the view that the shipping lines were not filing proper ... Read More »

Weekly review: KSE remains under pressure due to political impasse

KARACHI: The Karachi Stock Exchange (KSE) 100-index has lost 16.36 points in the weeklong trading, as it opened at 30044.89 points on Monday and closed at 30028.53 points on Friday. The KSE witnessed bearish trend most of the days as the market kept on fluctuating amid investors’ concerns for political uncertainty and economic losses on account of devastating floods, especially ... Read More »

Closing: KSE rally falters half way, loses 65.63 points on last trading day

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 65.63 points to stand at 30028.53 points on the last day of trading on Friday. As per details, the market opened with a positive note and added 48 points or 0.16 percent, the tone remained sluggish amid flurry of political developments. The KSE-100 index went down 21.2 points from overnight tally of ... Read More »

Lahore Customs collects 86pc more duty than last year

LAHORE: The Model Customs Collectorate Lahore has detected 36 mis-declaration cases in the first two months of current fiscal year and collected Rs 11.62 million federal excise duty which was 86 percent more than the collections during same months of last year. Sources told that the customs also collected Rs 2367 million customs duty during July-August period, which was 33 ... Read More »

Closing: KSE index plunges on political uncertainty

KARACHI: The Karachi Stock Exchange (KSE) 100-index plunges 42.41 points to stand at 30094.16 points, as indiscernible effects of institutional profit-taking, political uncertainty and flood devastation kept the KSE-100 index in red zone The KSE-100 index, opened at overnight closing of 30136 points and kept on fluctuating amid investors’ concerns for political uncertainty and economic losses on account of devastating ... Read More »

Chief Collector Nasir Masroor terms under-invoicing dilemma

KARACHI: Customs Chief Collector Appraisement-South Nasir Masroor Ahmed has said that the customs authorities issued valuation guidelines because principal appraisers and appraisers of the Pakistan Customs Services were not applying the customs values of commodities in proper way. He visited Karachi Chamber of Commerce and Industry (KCCI) on Wednesday. Collector MCC Appraisement-West Muhammad Saleem, Collector, MCC Appraisement-East Najeeb-ur-Rehman Abbasi, Collector ... Read More »