KARACHI: Collectorate of Customs Preventive, Anti-Smuggling Organization (ASO) has recovered cloth worth Rs10 million in a raid conducted at Jama Cloth market after Saturday mid-night. The seized cloth is smuggled and is marked with Afghan Transit Trade (ATT) stamps. Sources told that Collector Saquib Saeed received credible information about dumping of non-duty paid cloth in Jama Market. He immediately constituted a raiding team under the supervision of Deputy Collector Akbar Jan who raided Jama Market and intercepted red-handed three trucks while being de-stuffed at Jama Cloth market. The traders resorted to resistance and aerial firing. Customs however arrested one shop keeper Mufeez and two loaders. According to Ministry of Commerce, there has been a 17 percent decline in imports during the month of October 2019. This reduction in legal imports is due to excessive duty/taxes and other non-tariff barriers imposed by the government. An official told there has been a significant increase in the influx of smuggled goods and quantum of imports under Afghan Transit Trade (ATT). A major portion of Afghan Transit Trade is smuggled back into Pakistan or pilfered during transit. After the raid at Jama Cloth market, traders resorted to protest and staged a sit-in at M.A Jinnah Road. The importers and traders have been warned against dealings with elements involved in delivering smuggled goods on ‘done’ basis. An official said the authorities are of the view that there should be a fair and healthy competition in the market based on quality and not on price. Traders dealing in smuggled goods lucrative discounts as against legitimate businessmen paying all duties and taxes. A case has been registered and further investigation are still in progress.
Gold price jumps Rs5,700 per tola
KARACHI: Gold prices surged in both international and domestic markets, with the price of gold rising by $57 per ounce...
