Pakistan’s Largest Interest Rate Cut of the Year
The State Bank of Pakistan (SBP) is gearing up to make a significant announcement on Monday, with analysts predicting a 200 basis point cut in interest rates. This expected reduction…
Muhammad Abubakar Durrani of Pakistan Customs triumphs in Governor Balochistan Canoeing National Championship 2024
QUETTA: Muhammad Abubakar Durrani of Pakistan Customs Quetta 13-time National Champion demonstrated exceptional prowess by winning the Governor Balochistan Trophy National Sprint Canoeing Championship 2024 held in Quetta last day.…
IRS Officers Suspended by FBR in Immediate Disciplinary Action
KARACHI: In a decisive move, the Inland Revenue Service (IRS) of the Federal Board of Revenue (FBR) has taken disciplinary action against multiple officers and officials. According to a notification…
The Customs Faceless Assessment System (FAS) is being implemented from 15th of December, 2024
KARACHI: Jamil Nasir Chief Collector of Customs Appraisement Karachi informed that the Faceless Assessment System (FAS) is being implemented from 15th of December, 2024. All the goods declarations filed after…
Aptma Urges FBR to Reassess New Customs System to Prevent Disruption in Industry and Exports
KARACHI: The All Pakistan Textile Mills Association (Aptma) has called on the Federal Board of Revenue (FBR) to reassess the new customs system with input from the industry. In a…
Karachi Customs Enforcement Achieves Milestone in Anti-Smuggling Operation
Karachi: In a landmark anti-smuggling operation, the Collectorate of Customs Enforcement, Karachi, has achieved another significant milestone. Under the specific instructions of Collector of Customs, Mr. Moin Ud Din Ahmad…
Prime Minister Forms Joint Inquiry Team to Combat Sales Tax Frauds
In a decisive move to address the rampant issue of sales tax frauds, the Prime Minister has constituted a Joint Inquiry Team with immediate effect. The team comprises a diverse…
FBR starts postings of officers and officials to newly setup Central Appraising Unit
KARACHI: In a major stride towards enhancing transparency and efficiency in customs assessments, Pakistan’s Federal Board of Revenue (FBR) has launched the innovative Faceless Customs Assessment (FCA) system. This cutting-edge…
FIR lodged against M/s Khewra Kohsar Services
KARACHI: An FIR has been lodged before the Special Judge (Customs, Taxation & Anti-Smuggling-1) in Karachi, following a significant operation conducted by Customs authorities. Under the supervision of Chief Collector…
Customs Seize Misdeclared Goods Worth Millions in Karachi
Karachi: In a significant development, customs authorities intercepted a consignment of high-value goods misdeclared by M/s. Adnan Enterprises, located at S-02, Anum Palace, Bohri Road Opp. Custom House, Karachi. The…
Faceless Customs Assessment System Launched by FBR to Enhance Transparency and Efficiency
KARACHI: In a significant move to improve the quality and transparency of customs assessments for imported goods, Pakistan’s Federal Board of Revenue (FBR) has introduced the Faceless Customs Assessment (FCA)…
Karachi Customs Seize 22 Tons of Smuggled Goods in Major Raid
KARACHI: On the night of December 8th, 2024, acting on intelligence provided by an agency, the Customs Enforcement team in Karachi, led by Collector Moin Ud Din Ahmad Wani, Additional…
Outstanding Performance of Karachi Customs in Tackling Export Facilitation Scheme Violations
In a recent report, the Government of Pakistan’s Office of the Chief Collector of Customs (Exports/IOCO) in Karachi has highlighted the exceptional performance of the Export Collectorates of Karachi and…
Khurram Zafar appointed CEO of Pakistan Mercantile Exchange (PMEX)
Karachi: Pakistan Mercantile Exchange Limited (PMEX) has appointed Mr. Khurram Zafar as the Chief Executive Officer, who has already taken charge. Mr. Khurram Zafar joins PMEX with a robust background…
Major Crackdown on Green Channel Misuse in Pakistan
In a significant move to curb corruption and misuse of green channel status, Pakistani authorities have launched an unprecedented crackdown against several industries and companies. This action comes after it…
Smuggling Attempt Foiled by Customs Officials in Jacobabad
Jacobabad: In a determined effort to thwart smuggling operations, customs officials intercepted a Hino truck loaded with foreign goods disguised as iron scrap at the Shaheed Abdul Ghaffar Customs Check…
Supreme Court Proceedings Highlight FBR’s Efforts to Improve Legal Framework
Karachi: In recent developments, three key Directors have been tasked with overseeing cases fixed before the Supreme Court. They are required to coordinate with relevant field formations to ensure that…
Customs Appraisement West Files FIR Against M/s Farid Traders for Misdeclaration
Karachi: In a major enforcement action, Customs Appraisement West has lodged an FIR against M/s Farid Traders for alleged mis-declaration of imported goods aimed at evading government revenue. M/s Farid…
Re-determination of Power Tools’ Customs Values Annulled Amidst Industry Uproar
KARACHI: In a significant development, the customs values assigned to power tools have been rescinded following a contentious Valuation Ruling. On October 3, 2024, the Directorate General of Customs Valuation…
Inland Revenue Officers Slam FBR Policies
KARACHI: The Inland Revenue Service Officers’ Association (IRSOA) has released a critical statement against the Federal Board of Revenue’s (FBR) recent policies, highlighting a significant revenue shortfall attributed to a…