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Tag Archives: KCCI

Auditor General Pakistan starts expenditure audit of MCC Lahore

LAHORE: Auditor General of Pakistan (AGP) has started annual audit of expenditure of Model Customs Collectorate (MCC) Lahore. The AGP officials will conduct audit of expenditures of the MCC Lahore funds including petrol, maintenance of the vehicles expenditure, expenditures of the building, newspaper receipts, gas, electricity and waters bill. The audit officers of AGP office will complete audit report of ... Read More »

Customs Adjudication-I to issue 47 show-cause notices to fabric importers

KARACHI: The Collectorate of Customs Adjudication-I is going to issue 47 show-cause notices (SCNs) to fabric importers who involved in mis-declaration. According to details, the Office of the Collector, Collectorate of Customs Adjudication-I has to issue three show-cause notices to the importers and remaining show-cause notices to be issued by the offices of Additional Collector, Deputy Collector and Assistant Collector ... Read More »

Hyderabad Customs collects Rs 382.51m in July

KARACHI: The Model Customs of Collectorate (MCC) Hyderabad has collected an amount of Rs 382.51million in the month of July-2014 in share of Customs Duty (CD), Sales Tax, Federal Excise Duty (FED) and Withholding tax. According to details, the Hyderabad Collectorate has collected an amount of Rs 64.81 million in share of Customs Duty with the decrease of 56 per ... Read More »

MCC Export skips revenue target in July

KARACHI: The Model Customs Collectorate (MCC) of Export has failed to collect desirable revenue in July, first month of current fiscal year 2014-15. The FBR sources informed Customs Today that the MCC Exports had also missed revenue targets during the last fiscal year 2013-14 and now after claiming new efforts it missed the first month target of current fiscal year. ... Read More »

FIR against appraiser: Customs I&I not on board with probing committee

KARACHI: The 6-member committee formed to investigate the aspects of First Information Report (FIR) lodged by the Directorate General of Customs Intelligence and Investigation against the appraiser Sarfaraz Bangash Zai in MCC Appraisement-West on his alleged involvement in clearing the consignments of oil by using unfair means, has yet to start its working due to absence of basic information of ... Read More »

Turkey ready to sign PTA with Pakistan: Murat Mustu

KARACHI: Murat Mustu, Commercial Attaché at the Consulate General of Republic of Turkey in Karachi has said that Turkey is ready to sign the much-awaited Preferential Trade Agreement (PTA) with Pakistan as nothing was pending from the Turkish side but it was being delayed by Pakistani government. Speaking at a meeting during his visit to Karachi Chamber of Commerce and ... Read More »

Fisheries export up 15.68% to US$3.67m during FY 2013-14

ISLAMABAD: The Fish and fishery products saw an increase of 15.68% during last FY2013-14 which was 12.25 % higher than the FY2012-13. This record increase in export of fish and fishery products from Pakistan had made export earnings of US$ 367.472 million which were above the target of US$340.00 million fixed by Marine Fisheries Department. According to Ministry of Ports ... Read More »

IOCO issues 50 provisional certificates to importers

KARACHI: The Input-Output Co-efficient Organization (IOCO) has issued around 50 provisional certificates during a month, in which it allows the local importers to import raw material for manufacturing the products of local industries under concessionary regime with relaxation in customs duty related to the SRO 565(I)/2014. A FBR sources informed Customs Today that the list of the importers has yet ... Read More »

Karachi Customs Collectorates collect Rs 49.5 billion revenue in July

KARACHI: The Model Customs Collectorates (MCCs) of Appraisement-East, West and Port Qasim have collected Rs 49.5 billion revenue in first month of current fiscal year. As per details, the Model Customs Collectorate (MCC) of Appraisement-East has collected total revenue of Rs 13457 million in the first month of FY2014-15 in share of customs duty, sales tax, income tax and federal ... Read More »

Job undone: Dar to face IMF next week

ISLAMABAD: Pakistan’s economic team lead by Finance Minister Ishaq Dar is likely to face criticism by International Monetary Fund (IMF) in Dubai next week on its failure to broaden the tax base in last fiscal year. A source from FBR told Customs Today that the talks with the IMF going to begin next week in Dubai and economic team may ... Read More »

Govt to re-shuffle FBR’s top officials

KARACHI: The federal government has been mulling over to reshuffle the top bureaucracy of Pakistan Customs, Inland Revenue Services (IRS), Regional Tax Offices (RTOs) and Directorate General of Customs Intelligence and Investigation. A source told Customs Today that the changes would be on cards at chief collector, collector and commissioner and director level. He said that the federal government was ... Read More »

Customs seeks court to summon Royal Packages

KARACHI: Model Customs Collectorate of Appraisement-East has requested the Sindh High Court (SHC) to summon M/s Royal Packages (Pvt) Limited for hearing in August. It is pertinent to mention here that the M/s Royal Packages has moved court against the charges of tax evasion in terms of customs duty, sales tax and income tax through claiming of inadmissible benefit of ... Read More »

Committee formed to probe allegations against appraising officer

KARACHI: The Appraising Officials Association of Pakistan Customs in its meeting at customs house has decided to form a committee in order to probe the real aspects behind registering an FIR against an appraising officer by the Directorate General of Customs Intelligence and Investigation I&I. According to details, a committee comprising Shaheen Farooqui, Javed Akhtar, Mir Mansoor, Dost Muhammad and ... Read More »

TCS smuggling scandal: Court extends bail of Hamdani, Shakirullah

ISLAMABAD: Customs court has extended anticipatory bail granted to TCS Chief Executive Saqib Hamdani and Smart Zone Company’s owner Shakirullah till August 6th. Both were accused of allegedly involved in smuggling of contrabands undercover of Afghan transit trade. On the other hand, Customs Intelligence Deputy Director Shahid Jan has decided to broadened investigation circle to other workers of The Courier ... Read More »

DTRE scheme: Customs to recover millions from Lucky Cement

KARACHI: The Federal Board of Revenue (FBR) has asked Pakistan Customs to recover tax worth millions of rupees from M/s Lucky Cement Limited as company found guilty of tax evasion in duty and tax remission for exports (DTRE) research report. The sources informed Customs Today that the FBR authorities during the DTRE research study had observed that facility granted to ... Read More »

Containers’ grounding: PICT, KICT fail to resolve issues

KARACHI: The importers and traders have been facing mismanagement and delaying tactics by administration of Pakistan International Containers Terminal (PICT) and Karachi International Containers Terminal (KICT) in grounding of containers. “Pakistan Customs’ officials use delaying tactics and give lame excuses like shortage of labour and space while grounding containers for examination” Shujaat Ahmed an importer informed Customs Today. Kamran Akhtar, ... Read More »

FBR assesses legal provisions of budget 2014-15

ISLAMABAD: The Federal Board of Revenue (FBR) has started discussions on impacts of legal provisions presented in the budget for FY 2014-15. Government introduces legal provisions in the federal budget to facilitate FBR to meet the revenue collection target every year and then a process of review of impacts of legal provisions also continues throughout the year. A meeting in ... Read More »

Customs issues valuation ruling of Methylene Chloride

KARACHI: The Directorate General of Customs Valuation has issued the Customs values of Methylene Chloride through Valuation Ruling No.679/2014 under Section 25-A of the Customs Act, 1969. The said Valuation Ruling has superseded the previous Valuation Ruling No.629 regarding the Customs values of Methylene Chloride. According to the details, the Customs values of Methylene Chloride having PCT Code 2903.1200 and ... Read More »

Customs I&I seizes 120,000 litres smuggled oil

Karachi: Directorate General of Intelligence and Investigation (I&I) Hyderabad seized oil tankers carrying sixty thousand litres of smuggled oil worth Rs 10 million. As per details, DG I&I on tip of informer raided oil tankers carrying smuggled oil and seized 60,000 litres oil. Three criminals have been arrested during the seizure. It was said that oil was being smuggled to ... Read More »

CAC Pakistan summit & Agro Chemical Expo on August 5-6

LAHORE: China Agro Chemical (CAC) Pakistan Summit and Pak-China Agro Chemical Expo will be held on August 5-6, 2014 at Lahore Expo Centre. The President Lahore Chamber of Commerce and Industry (LCCI) Sohail Lashari at a press conference said that Punjab CM Shahbaz Sharif and Chinese Ambassador would attend the event Pak-China suit and expo. Mr. Lashari said that it ... Read More »