FTAs, PTAs: FPCCI suggests strategy to benefit local industry as country suffers huge loss on import exemption

Karachi: The Federation of Pakistan Chambers of Commerce and Industry has urged the government to redesign the Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with a view to promote the domestic industry of Pakistan, as the government has suffered revenue loss of over Rs. 45 billion during FY… Continue reading

Bahrain Clear launches electronic payment service Fawateer

MANAMA, BAHRAIN: Bahrain Clear (BHC) has launched the electronic payment “Fawateer” to allow investors, brokers, custodians and issuers to pay all outstanding fees and commissions of all services provided by Bahrain Clear in a seamless and secure manner in cooperation with BENEFIT, the leading electronic transactions company. BHC is a… Continue reading

SHC allows provisional release of textile fabric

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Irfan Saadat Khan and Justice Fahim Ahmed Siddiqui on Thursday allowed provisional release of eleven consignments of textile fabric imported by Murtaza Textiles. The bench earlier heard a counsel from Franklin Law Associates representing the petitioner company which… Continue reading

Bahrain Clear joins BENEFIT’s EFTS System

MANAMA, BAHRAIN: Bahrain Clear (BHC), a fully owned subsidiary of Bahrain Bourse signed a cooperation agreement with “BENEFIT”, the leading electronic transactions company, under which Bahrain Clear will join the Electronic Fund Transfer System (EFTS). The agreement was signed by Vice Chairman and Managing Director of Bahrain Clear Sh. Khalifa… Continue reading

SHC allows benefit of SRO 497 to importers of tile other items

KARACHI: A Customs Appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Omar Sial on Tuesday allowed importers of tiles and other items from China to avail benefit of SRO 497 of 2009. The benefit of the said SRO was denied after issuance of SRO… Continue reading

Customs Adjudication imposes conditional penalty on SNGPL

KARACHI: Collector Customs Adjudication Chaudry Muhammad Javaid has imposed a conditional penalty on M/s Sui Northern Gas Pipelines (SNGPL) for evading duty/taxes and claiming inadmissible of concessionary SRO. Collector Adjudication has linked the verdict with the report of Engineering Development Board (EDB) that whether the gas meters imported by M/s… Continue reading

Notice issued in petition seeking retrospective benefit of replaced VR

KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Friday adjourned a constitution petition seeking retrospective benefit in a Valuation Ruling, which was replaced by a new one. An importer of paper products filed the petition who… Continue reading