Customs Appellate Tribunal almost dys-functional
KARACHI: The Special Customs Appellate Tribunal is almost dysfunctional due to non appointment of members. As per sources, the tribunal has only two members at present. One of the two…
Customs appellate tribunal sets aside ONO Appeal filed by Swift Trade International
KARACHI: The Special Customs Appellate Tribunal set aside an Order in Original passed by Additional Collector of Customs (Adjudication) against Swift Trade International which imported empty perfume bottles along with…
Current Account Deficit in April 2020 amounts to $572 million
ISLAMABAD: As per the State Bank of Pakistan (SBP), Current Account Deficit (CAD) in April 2020 amounts to $572 million versus $9 million recorded in March 2020. A massive jump…
Customs Enforcement Central Regions geared up anti-smuggling drive
LAHORE: With the change in command and posting of Mr Faiz Ahmad, a daring and competent officer of Pakistan Customs Service as Chief Collector Customs Enforcement Lahore , Customs anti…
MCC Exports Port Qasim detects import of high value Indian goods in the garb of used clothing
KARACHI: MCC Exports Bin Qasim has lodged an FIR against certain persons for misusing the EPZ facility for clearance of Indian origin banned goods as well as high value and…
License granted for distributed generation plant on Packages Mall Lahore
KARACHI: National Electric Power Regulatory Authority (NEPRA) has granted generation license to Shams Power (Pvt) Ltd for its 1.897 MW solar based distributed generation at Packages Mall, Lahore. The total…
SECP Appellate Bench to conduct online hearings to facilitate companies
ISLAMABAD: The SECP, to facilitate companies and ensure health and safety of all concerned, has decided to conduct Appellate Bench hearings through video conferencing where parties i.e. Appellant and Respondent…
Motiwala demands restoration of zero-rated facility for export sectors
KARACHI: Patron of SITE Association of Industry Zubair Motiwala has once again drew the attention of the federal government towards the difficulties being faced due to inability of fully automated…
FBR urged to withdraw discretionary power of FBR for Multiple audit and posting of Inland Revenue Official at business premises – FPCCI
MianAnjumNisar, President and Zakaria Usman, Convener,Budget Advisory Council of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) urged the FBR to withdraw the discretionary powers vested with the…
MR. AHMED CHINOY URGES SINDH GOVERNMENT TO REOPEN OF ALL THE TEXTILE AND ITS ALLIED INDUSTRIES IN SINDH
Mr. Ahmed Chinoy urged Sindh Government to reopen all the Textile and its allied Industries. Pakistan is the 8th largest exporter of textile commodities in Asia. Textile sector contributes 8.5%…
Tyre traders seek FPCCI intervention for removal of regulatory duty
KARACHI: Pakistan Tyre Importers and Dealers Association (PTIDA) has demanded immediate removal of regulatory duty on tyres. A delegation of PTIDA visited Federation of Pakistan Chambers of Commerce and Industry…
Local auto assemblers Honda Atlas, Indus Motors resume operations
KARACHI: Honda Atlas Cars and Indus Motor Company have resumed operations after the government eased the nationwide lockdown imposed to check the spread of novel coronavirus COVID-19 in the country,…
PSX successfully manages and concludes book building for PHL Energy Sukuk
Karachi: The book building process of Sukuk II of Power Holding Limited (PHL), a public sector entity fully owned by the Ministry of Energy, was successfully concluded today by Pakistan…
Huawei hosts 17th annual Global Analyst Summit
Karachi: Huawei held its 17th annual Global Analyst Summit in Shenzhen, both onsite and online. At the event, Huawei was joined by over 2,000 analysts, key opinion leaders, and media…
Bringing Clean Energy to Remote Pakistan: GE Renewable Energy to Supply Technology for Dasu Hydropower Plant
Islamabad: GE Renewable Energy, in consortium with Powerchina Zhongnan Engineering Corporation Limited, announced today that it has been selected by Pakistan Water and Power Development Authority (WAPDA) to supply six…
PIA signs MoU with Reliance Petrochem
KARACHI: Pakistan International Airlines (PIA) signed a Memorandum of Understanding (MOU) with Reliance Petrochem Industries Private Limited manufactures of “Reliance Handtizer” and “Reliance Surface Sanitizers” ; these products will be…
Director Customs Intelligence Karachi redistribute work among Additional Collectors
KARACHI: Director Customs Intelligence and Investigation Karachi Yaqoob Mako has redistributed work/assignments among Additional Directors within the directorate. Additional Director-I Sheeraz Ahmed is assigned Administration and Establishment, Division-IV, FTO, DRRA…
Transfers and postings in Customs Intelligence and Investigation
KARACHI: On the recommendation of Director General Customs Intelligence and Investigation Abdul Rasheed Shaikh, Federal Board of Revenue FBR has notified transfers and postings of officers. Accordingly, Muhammad Saeed Wattoo…
US housing starts fall sharply in April
WASHINGTON: U.S. homebuilding dropped to a five-year low in April, underlining fears that the novel coronavirus crisis would lead to the deepest economic contraction in the second quarter since the…
Pakistan economy size shrinks to $264 bn
ISLAMABAD: With the contraction of Pakistan’s GDP growth rate that falls into zero range at negative -0.38 percent for the outgoing fiscal year, the total size of the country’s economy…