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Letters to Editor

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

Pakistan to export additional 500,000 tons rice to China

ISLAMABAD: Advisor to Prime Minister on Commerce, Textile, and Industry Abdul Razak Dawood has said on Wednesday that Pakistan has completed rice export target of 250,000 tons to China. The rice were exported under the duty-free incentive package of $1 billion offered by China for Pakistan to lift its exports. Completing the target of assigned quota, Pakistan approached Chinese government ... Read More »

PSX’s 100 Index loses 1,382 points in intraday trading

KARACHI: The Pakistan Stock Exchange’s KSE-100 index on Thursday plummeted by more than 1,382 points during intra-day trading in the wake of the detailed verdict of a special court in the high treason case against former president General (r) Pervez Musharraf. The benchmark index opened at 41,603 points but started to fall around midday as the market anticipated the release ... Read More »

Court extends Khursheed Shah’s judicial remand till Dec 12

SUKKUR: An accountability court in Sukkur on Saturday extended the judicial remand of Syed Khursheed Shah till December 12 in a case regarding his alleged assets beyond means. On 7 December 2019, Shah’s defence counsel argued with the court that 82 days have been passed since his client’s arrest by the National Accountability Bureau (NAB), however the accountability watchdog could ... Read More »

Gold price up by Rs350 per tola

KARACHI: The price of 24 karat gold gained Rs350 on Wednesday and was traded at Rs85,450 per tola, as compared to Rs85,100 on last trading day, Karachi Sarafa Association reported. Likewise, the price of 10 gram gold witness increase of Rs300 and was traded at Rs73,260 against last closing of Rs72,960. The price of silver remained stable and was traded ... Read More »

Pakistan generates Rs31b through defence exports this financial year: Zubaida Jalal

DUBAI: Federal Minister for Defence Production Zubaida Jalal on Monday said that Pakistan made at least Rs31 billion from the export of defence-oriented products this financial year. The minister was talking on the sidelines of the Dubai Airshow 2019 that kicked off on Sunday. The airshow was opened by vice-president and prime minister of UAE and ruler of Dubai, Sheikh ... Read More »

KPT shipping intelligence report Nov 14

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Thursday. ALONG SIDE (Bulk Oil Pier) OP-I Lahore D. Crude Oil PNSC 13/11/19 OP-II Elandra Spruce D. Mogas Alpine 11/11/19 OP-II Shalamar D. Crude Oil PNSC 11/11/19 OP-II Sunray D. Mogas GAC 13/11/19 ALONG SIDE (East Wharves): 1 Stolt Commitment ... Read More »

Govt plans issuance of Euro, Sukuk bonds worth $2b

ISLAMABAD: With an aim to strength the state’s foreign exchange reserves, Pakistan’s finance ministry has begun preparations of issuing Eurobonds and Sukuk (Islamic bonds) worth $2 billion for five years and 10 years periods. The government of Pakistan intends to set up a Medium Term Note (MTN) Programme, covering both Eurobonds and international Sukuk for a period of one year ... Read More »

NAB pleas to cancel bail of Shehbaz Sharif set for hearing on Oct 22

ISLAMABAD: Supreme Court of Pakistan on Saturday set the date for hearing of appeals filed by National Accountability Bureau (NAB) against bail of Opposition Leader in the National Assembly Shehbaz Sharif. As per details, a three-member bench of the Supreme Court will hear the appeals against the bail of PML-N president in the Saaf Pani and Ashiyana cases on October ... Read More »

Quetta Customs recovers betel nuts, gutka, tyres worth Rs40m from passenger buses

QUETTA: Collectorate of Customs team foiled a bid to smuggle 8,000 kilograms of betel nuts, 500 kilogram Indian Pan Prag and huge quantity of non-duty paid tyres from a passenger bus. Sources told that Collector Preventive Dr. Iftikhar Ahmad received credible information about smuggling of goods through a passenger coach. He directed Additional Collector Jameel Baloch and Assistant Collector Saleem ... Read More »

Accountability Court adjourns hearing of fake accounts case till Oct. 22

ISLAMABAD: An accountability court on Friday adjourned hearing the fake accounts case without making any substantial progress after it was informed that copies of the reference had not yet been provided to all 30 of the suspects nominated. Accountability judge Mohammad Bashir, who was hearing the case, said the court will start the indictment process once all the accused had ... Read More »

Pakistan Stock Exchange lose 180 points on selling pressure

KARACHI: The Pakistan Stock Exchange (PSX) failed to sustain gains on Tuesday and succumbed to selling pressure. Although the bulls managed to overpower the bears for a brief period of time, the day ended with bears in control. Also, amidst economic uncertainty, recent political developments in the region forced the investors to keep their cautious stance intact. Foreign investors in ... Read More »

Fixed tax regime will be finalized after consultations with stakeholders: Chairman FBR

RAWALPINDI: The proposed draft on fixed tax regime will be finalized after consultations with stakeholders and FBR doors are open for business community to address their grievances. The draft for Small Shopkeepers Scheme under section 99B of the Income Tax Ordinance, 2001 has been released for views and comments. This was stated by Chairman FBR Shabber Zaidi while talking to ... Read More »

Customs, excise duty collections record double-digit growth: SBP

ISLAMABAD:The customs and excise duty collections recorded a double-digit growth during the fiscal year 2018-19, State Bank of Pakistan (SBP) said in its recent report. According to SBP report “The State of Pakistan’s Economy” the depreciation of Pakistan rupee, imposition of regulatory duty, and an increase in excise duties led to a double-digit growth in custom and excise collection during ... Read More »

Customs Court approves remand of suspect in polyester fabric’s smuggling

KARACHI: The Customs Court approved physical remand of suspect namely Amad Hussain son of Shah Afzal and sent him back to customs department, who was involved in a case of attempting to smuggle foreign origin polyester fabric worth Rs33,247,607. On July 9, 2019 investigation officer produced above mentioned suspect along with first information report (FIR) and informed the court that ... Read More »

Mission of DC Abdul Qadoos will be continued: Member Customs Agha Jawwad

KARACHI: Federal Board of Revenue (FBR) Member Customs Operations Agha Jawwad has said that the culprits involved in the brutal killing of Deputy Collector Preventive Quetta Customs Dr. Abdul Qudoos will soon be arrested. Addressing the condolence seminar conducted in Customs House after the martyrdom of Deputy Collector Preventive Quetta Customs Dr. Abdul Qudoos, Member Customs Agha Jawwad hailed his ... Read More »

Peshawar I&I foils bid to smuggle huge quantity of opium near Motorway Toll Plaza

PESHAWAR: Directorate of Customs Intelligence and Investigation (I&I) seized 12 kilograms of opium worth millions of rupees and arrested accused near Motorway Toll Plaza. Sources of I&I told Customs Today, on direction of Director Rashid Habib the campaign against smuggling of narcotics is on full swing. An information was received to the effect that a sizeable quantity of narcotics would ... Read More »

Pak Rupee weakens by 16 paisas on import payments

KARACHI: The Pak Rupee weakened by 16 paisas against dollar on Wednesday owing to higher demand for import and corporate payments. The rupee ended Rs156.97 to the dollar from previous day’s closing of Rs156.81 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs156.85 and Rs156.95. The marked recorded day high of Rs157.00 and ... Read More »

Pak Rupee falls further as dollar hits 157 in interbank trade

KARACHI: The Pakistani currency maintained its downturn for a seventh straight session, hitting a low of over Rs157 against the US dollar in the interbank market on Monday. Since the morning, it moved both ways within a range of Rs156.50 to Rs 157.07. Latest updates showed the rupee stood at Rs156.96, up by Rs1.12 from Friday’s closing rate of Rs155.84. ... Read More »

Govt withdraws zero-rated status for major exporters

ISLAMABAD: The PTI government has withdrawn the zero-rated facility, saying that the move will streamline revenue flow and prevent leakages. While announcing the federal budget for fiscal year 2019-20, the government withdrew the Statutory Regulatory Order (SRO) 1125(I)/2011, which offered zero-rated sales tax on inputs and products of five major export-oriented sectors ie textile, leather, carpets, sports goods and surgical ... Read More »

Shipping activity at Port Qasim

KARACHI: Three ships MS Tiger, Janic Star and Golar Maria carrying containers, Coal and LNG were allotted berths at Qasim International Container Terminal, Pakistan International  Bulk Terminal and Pakistan Gasport Consortium Terminal respectively. Meanwhile four more ships, MSC Maeva, Coral Gem, Andrey Pervozvanny and Althakhira carrying Containers, Coal Palm oil and LNG  also arrived at outer anchorage of Port Qasim ... Read More »