Heat wave predicted in Karachi, K-Electric urges energy conservation

KARACHI: The Pakistan Meteorological Department on Sunday issued a heat wave alert in Karachi for the next six to eight days. With temperatures expected to go as high as 42 degrees centigrade, K-Electric (KE) urges its valuable customers to take all necessary precautions and avoid unnecessary excursions or strenuous activities… Continue reading

Textile millers misusing DTRE facility causing loss to national exchequer

KARACHI: Textile millers are evading government revenue through misuse of DTRE facility, sources said. It was known that several textile mills are importing craft paper under DTRE facility, and the same is being sold in the local market instead of being used in making exportable goods. DTRE Scheme provides suspension… Continue reading

Frequently Asked Questions in respect of Foreign Currency Accounts Rules

Frequently Asked Questions in respect of Foreign Currency Accounts Rules   Question 1. Why there was a need to issue SRO by Ministry of Finance, if there is no change in existing foreign exchange regulations? Ans. Protection of Economic Reforms Act 1992 (PERA) was amended in 2018. The amendments made… Continue reading

IHC orders FBR to refer the matter of upgradation of the post of Principal Appraisers to management services wing

ISLAMABAD: Islamabad High Court has ordered FBR to refer the matter of upgradation of the post of Principal Appraisers to BS-17 to management services wing of Establishment Division. The background, leading to filing of instant petition, is that petitioners are Principal Appraisers which position at present is of BS-16. Representation… Continue reading

Recovery of betel nut, indian gutka: FIR lodged

HYDERABAD: Customs Intelligence and Investigation Hyderabad has lodged an FIR against persons yet to be asertained in relation to the large quantity of smuggled goods recovered from warehouses in District Umerkot. initial investigations found that one person named Lali is running the entire smuggling ring, and all the smuggled contraband… Continue reading

FBR conducts inquiry against transit trade officer, which is in contempt of court

KARACHI: In absolute contempt of Supreme Court of Pakistan, the Federal Board of Revenue (FBR) has been directed to conduct inquiry into the issue of 262 trucks of sugar arriving under Afghan transit trade, which were stopped by Customs authorities for being unfit for human consumption. A meeting of Pak-Afghan… Continue reading

ASO Preventive seizes smuggled betel nut worth Rs36 million

KARACHI: ASO of MCC Preventive Karachi in a joint operation with West Zone Police raided warehouses in Industrial Area and recovered 30 tons of betel nut worth Rs36 million. Information was passed through Collector Preventive Saquif Saeed to Additional Collector Haroon Malik regarding presence of smuggled betel nut Assistant Collector… Continue reading