Site Chief Terms 12% Policy Rate Decision as Disappointing
Karachi: Ahmed Azim Alvi, President of SITE Association of Industry Karachi, has termed the State Bank of Pakistan’s decision to maintain the policy rate at 12% against the expectations of…
PCDMA Rejects 12% Interest Rate Decision
Karachi: Salim Valimuhammad, Chairman of the Pakistan Chemicals & Dyes Merchants Association (PCDMA), has rejected the State Bank’s decision to keep the interest rate at 12% and demanded a significant…
Appraisement South Cracks Down on Misdeclaration of Goods in GD-TP
Karachi: The Office of the Chief Collector of Customs Appraisement (South) has issued a stern warning to importers, customs agents, and licensed bonded carriers regarding the correct declaration of goods…
Monetary Policy Statement March 10, 2025
1. At its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 12 percent. The Committee noted that inflation in February 2025 turned out…
EFP President to Represent Pakistani employers at ILO Governing Body Meeting in Geneva
KARACHI: Malik Tahir Javaid, President of the Employers Federation of Pakistan (EFP), will represent Pakistani employers at the 353rd ILO Governing Body Meeting, at the ILO Headquarters in Geneva. The…
Custom Appellate Tribunal judgments devoid of reasons, factual findings
KARACHI: The custom appellate bench of High Court of Sindh (SHC) comprising Acting Chief Justice Muhammad Junaid Ghaffar and Justice Mohammad Abdur Rahman sets aside another judgment of Custom Appellate…
Customs Enforcement Karachi Uncover Smuggling Network at West Bay Off-Dock Terminal
KARACHI: The staff of the West Bay off-dock terminal has been implicated in smuggling activities through legal channels, in collusion with organized smugglers. Two individuals have been arrested, and investigations…
Pakistan Customs Seizes Smuggled Mobile Phones Worth Rs. 40 Million in Hyderabad Raid
HYDERABAD: As part of Pakistan Customs’ ongoing crackdown on smuggled goods, the Anti-Smuggling Unit of the Collectorate of Customs (Enforcement), Hyderabad, conducted a raid on a mobile market in collaboration…
Large-Scale Crackdown on Misuse of Export Facilitation Scheme (EFS) Leads to Arrests and Billions in Revenue Recovery
KARACHI: In a significant move to curb the misuse of the Export Facilitation Scheme (EFS), authorities have launched a large-scale crackdown, resulting in the arrest of several individuals and the…
Establishment Division Closes Door on Further Promotion Consideration for Officers twice rejected by HPSB
ISLAMABAD: The Establishment Division has issued a directive disqualifying officers who have been considered twice for promotion to BS-22 by the High Powered Selection Board (HPSB) but not recommended, from…
ACF Animal Rescue Provides Safe Haven for Exotic Monkeys Rescued by Pakistan Customs
Karachi: In a harrowing case of wildlife trafficking, Pakistan Customs recently intercepted a group of exotic monkeys who had endured unimaginable suffering during their illegal transport. Upon rescue, these terrified…
SHC remands back Eight SCRA’s filed by steel pipe millers to Custom Appellate Tribunal
KARACHI: Eight Special Customs Reference Applications filed by Sheikh Pipe Mills and others were remanded back to the Custom Appellate Tribunal for deciding the same afresh and under a well…
Federal Board of Revenue Introduces Standard Operating Procedures for Customs Facilitation Mechanism
Islamabad: In a significant move to streamline customs operations and enhance efficiency, the Federal Board of Revenue (FBR) has issued a detailed Standard Operating Procedure (SOP) for the Facilitation Mechanism…
Customs Enforcement Karachi Seizes Rs. 330 Million in Contraband Mobile Phones and Vape Liquids
KARACHI: In a decisive operation, the Customs Enforcement team in Karachi successfully thwarted a smuggling attempt involving a massive consignment of mobile phones and vape liquids worth Rs. 330 million.…
Faceless Customs System Under Fire: MCC Appraisement East Exposes Major Loopholes Leading to Billions in Losses
MCC Appraisement East has taken legal action by lodging another FIR, shedding light on the flaws and inefficiencies in the so-called “Faceless Customs Assessment System” (FCAS) that have led to…
Monetary Policy Announcement
The Monetary Policy Committee (MPC) of SBP will meet on Monday, March 10, 2025 to decide about the Monetary Policy. Later on, SBP will issue the Monetary Policy Statement through…
Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 15,873.8 million as of 28-Feb-2025. The break-up of the foreign reserves position is as under: i) Foreign reserves…
Mobilink Bank wins prestigious GLOMO Award for ‘The Invisible Heirs’ Campaign
Islamabad: Pakistan’s leading digital microfinance institution, Mobilink Bank, has solidified its standing as a trailblazer in women’s financial inclusion and economic empowerment by winning the ‘CMO Marketing Campaign’ Award at…
SECP Appellate Bench Upholds Penalty on VIS Credit Rating Company
ISLAMABAD: The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has dismissed the appeal filed by VIS Credit Rating Company Limited (formerly JCR-VIS Rating Company Limited) against…
SHC disposes petition challenging demand notice by MCC-West
KARACHI: A constitutional bench of High Court of Sindh comprising Justice Agha Faisal and Justice Abdul Mobeen Lakho disposed of a petition filed by Sunrise Traders Gujranwala impunging a demand…