Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Breaking News

SHC grants urgency on petition filed by M/s Master Pipe Industries seeking return of bank guarantee

byM.B. Rana
27/09/2021
in Breaking News, Karachi, Latest News
Share on FacebookShare on Twitter

KARACHI: A two-member bench, comprising Justice Shafi Muhammad Siddiqui and Justice Agha Faisal granted urgent application and called comments from customs officials after two weeks on a constitutional petition filed by M/s Master Pipe Industries seeking an order for return of its bank guarantee paid during provisional release.

Dated 27 September 2021, during the hearing, Muhammad Adeel Awan Advocate for petitioner, Dr Shahab Imam Advocate for customs department, Tariq Aziz Principle Appraiser Port Muhammad Bin Qasim, Kafeel Ahmed Abbasi Deputy Attorney General, Hussain Bohra, Assistant Attorney General appeared before the court.

You might also like

IMF forecasts slower growth, higher inflation for Pakistan

09/05/2026

Govt raises petroleum levy; taxes hike petrol, diesel prices

09/05/2026

Counsel for the petitioner argued that the matter is on urgent basis; therefore, the court may grant urgent application and call comments from the customs department.

During the hearing, counsel for the petitioner stated that petitioner is lawful importer of secondary quality steel products and during the course of its business; petitioner imported the same and filed goods declaration according to law, however, customs officials have denial the same and denial the same actual declared transaction value without assessing any cogent and plausible reasons and on the basis of the formulae given Valuation Ruling No 1213/2017 which was already challenged by the petitioner.

He argued that petitioner had no way, therefore, petitioner submitted bank guarantee during provisional release.

Citing Chairman Federal Board of Revenue, Collector of Customs Port Muhammad Bin Qasim, Collector of Customs Appraisement West, Collector of Customs Appraisement East as respondents, petitioner pleaded the court may direct them to return bank guarantee which was paid by the petitioner during provisional release and restrain them from taking any adverse action against the petitioner till final order in this petition.

Related Stories

IMF forecasts slower growth, higher inflation for Pakistan

byCT Report
09/05/2026

ISLAMABAD: The International Monetary Fund has projected slower economic growth and higher inflation for Pakistan, highlighting the need for continued...

Govt raises petroleum levy; taxes hike petrol, diesel prices

byCT Report
09/05/2026

ISLAMABAD: The government has increased the levy on petroleum products, adding to the cost burden on consumers and making petrol...

Experts urge expansion of Third Schedule in sales tax regime

byCT Report
09/05/2026

ISLAMABAD: Tax experts, economists, and business leaders called for major reforms in Pakistan’s sales tax regime in the upcoming federal...

FPCCI felicitates nation, Pak Army on one year of Marka-e-Haq

byCT Report
09/05/2026

LAHORE: The Federation of Pakistan Chambers of Commerce and Indsutry (FPCCI) and United Business Group (UBG) Saturday felicitated the entire...

Next Post

SHC dismisses petition filed by M/s Farm Plant seeking release of Gum Copal’s consignment

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.