ISLAMABAD: Model Customs Collectorate Additional Collector Adjudication Iram M Amir has rejected the allegations leveled against the Universal Gateway Company and officials of dry port import section in imported fabric case. The allegations against the accused were the tax theft worth Rs 176 million on more than 100 containers. The Collector has issued order-in-original – 54 – 2014 to release the seized containers immediately after hearing the case 65/2014. The officials of Customs Intelligence had sent the samples to Faisalabad for lab test. The lab reports named the cloth as chenille fabrics and suggested to receive customs duty $3.25 per kg under Hs Code 6001.9290 while the Universal Gateway paid $2.1 per kg. The collector has said that the method for evaluation of cloth was correct and ordered to release the containers immediately.
SBP dollar purchases fall to 16-month low at $154m
KARACHI: The State Bank of Pakistan (SBP) significantly reduced its dollar purchases from the interbank foreign exchange market in May,...
