State Bank of Pakistan slashes policy rates by 100 bps to 8.5 percent
KARACHI: The State Bank of Pakistan (SBP) on Saturday announced 100 basis point cut in the discount rate to 8.5 percent, which last prevailed in 2004. The reduction in the…
International Customs Day on January 26th
KARACHI: Pakistan Customs will celebrate International Customs Day at Custom House Karachi on January 26, 2015. Chairman Federal Board of Revenue (FBR), Tariq Bajwa will be the chief guest on…
Assistant Collector’s approval mandatory for documents to be submitted at judicial forums
KARACHI: In pursuance of Federal Board of Revenue (FBR) directions, the MCC Appraisement West has notified that Additional Collector of Customs (Hqrs.- ADC-I), MCC-Appraisement (West), Karachi is nominated to sign…
DG Customs Valuation rejects proposed revision in Valuation Ruling No.664/2014
KARACHI: The Directorate General of Customs Valuation has dismissed the petition seeking suspension of Valuation Ruling No.664/2014 and fixing of Customs values of motorcycle parts separately as the revision petition…
Mandatory approval of Chief Collector for proceedings under Section 32-A termed illegal
KARACHI: Several eyebrows have been raised on the directives of Federal Board of Revenue (FBR) making it mandatory for the Customs formations to seek approval of Chief Collector prior to…
Appraisement West lodges FIRs against under Section 32-A, as Chief Collector’s approval received
KARACHI: Finally, MCC Appraisement West has been able to lodge FIR against M/s Right Way Trading Co under Section 32-A for fraudulently availing duty/tax exemptions. The case had been pending…
Establishment notifies names of Grade-20 officers nominated for 102nd National Management Course
KARACHI: The Establishment Division has notified the list of Grade-20 officers nominated for the forthcoming 102nd National Management course. It is pertinent to mention here that according to revised promotion…
ASO Hyderabad razes more illegal fuel stations
KARACHI: On the directives of Collector MCC Hyderabad, Wasif Ali Memon, the Deputy Collector ASO Hyderabad Amanullah Tareen launched another operation against illegal petrol-diesel pumps in district Umerkot with the…
DG Valuation meets with stakeholders to determine values of one side coated duplex board on January 27th
KARACHI: Directorate General of Customs Valuation has convened a meeting of stakeholders on January 27, 2015 to determine the customs values of one side coated duplex board in sheets grey…
Import of over-aged coaster vans, MCC Port Qasim prepares seven contraventions
KARACHI: The MCC Port Qasim has prepared contravention reports in seven different cases where importers opted to hoodwink the Customs and import used coaster vans through mis-declaration, tempering with the…
Chief Collector (Enforcement) South officially commends MCC Export Officers
KARACHI: The Chief Collector (Enforcement) South has appreciated the work of the officers of MCC Exports in affecting recovery pending against M/s Gravure Packaging (Pvt) Limited through attachment of property.…
Proceedings initiated against Customs agents for fraudulently clearing cars older than prescribed age limit
KARACHI: The MCC Appraisement-East has served show cause notice (SCN) to a large number of customs clearing agents, as they enabled import of older vehicles in violation of the provisions…
FBR transfer/posting in Inland Revenue Service
KARACHI: The Federal Board of Revenue (FBR) has notified transfers and postings of Grade-20 and Grade-21 officers of Inland Revenue Service (IRS). Accordingly, Ms. Tasneem Rehman (Frade-21) has been moved…
Contravention report prepared against M/s ICI Pakistan for defrauding exchequer of Rs33.94 million
KARACHI: The Model Customs Collectorate (MCC) Appraisement-East has prepared a contravention report against M/s ICI Pakistan as the company in connivance with their clearing agent defrauded the national exchequer of…
FBR notifies promotions of Grade-17 officers of Pakistan Customs Service
KARACHI: The Federal Board of Revenue (FBR) has notified promotions of Grade-17 officers of Pakistan Customs Service (PCS) into Grade-18. The following BS-17 officers of Pakistan Customs Service are promoted…
Customs values of Printing Ink revised
KARACHI: Directorate General of Customs valuation has revised the customs values of printing ink vide valuation ruling No.707 / 2015.According to details, an application was filed by M/s. DIC Pakistan…
MCC Port Qasim, MCC Appraisement West accorded approval to lodge FIRs under section 32-A
KARACHI: The Chief Collector of Customs South, Nasir Masroor has accorded his approval for the lodging of FIRs against two importers who took undue benefit of concessionary SROs on fake…
Pakistan lifts ban on import of prohibited weapons; implements quantity-based authorization
KARACHI: The Government of Pakistan has lifted the ban on the import of arms/ammunition of prohibited bores and substituted the value-based authorization (VBA) with quantity-based authorization (QBA) for import of…
Classification committee finds PCT 8414.5120 appropriate for Rechargeable Fans
KARACHI: The Customs Classification Committee headed by Zeba Bashir Ahmed has notified that ‘Rechargeable Fans in parts’ is appropriately classifiable under PCT heading 8414.5120. M/S Rafiq Enterprises, AR Enterprises, Peshawar…
Classification committee finds PCT 8534.0000 & 8522.9000 appropriate for Printed Circuit Boards and CD Mechanism
KARACHI: The Customs Classification Committee headed by Zeba Bashir Ahmed has notified that ‘Printed Circuit Boards and CD Mechanism’ are appropriately classifiable under PCT heading 8534.0000 & 8522.9000 respectively. The…