Shamsul Islam Khan for setting up duty free common trading zone, industrial park at Pak-Iran border

IMPROVING TRADE TIES & CURBING SMUGGLING: KARACHI: Vice President Karachi Chamber of Commerce & Industry (KCCI) Shamsul Islam Khan has suggested that Pakistan and Iran must look into the possibility of setting up duty free Common Trading Zone and an Industrial Park at Pak-Iran border in order to improve the… Continue reading

Pakistan seeks FTA with GCC states: Dawood

Advisor to Prime Minister on Commerce, Abdul Razak Dawood Monday said that relationship with Saudi Arabia and quantity of investment by it in Pakistan are moving to a higher level. We are looking for free trade agreement with the Gulf Cooperation Council (GCC) states and removal of restrictions on Pakistan…. Continue reading

Tribunal rejects Pringles chips importer appeal against assessment order

KARACHI: Deciding an appeal against classification of chips as crisp savoury food products, Customs Appellate Tribunal rejected the appeal filed by M/s IBL Operations which imports Pringles Snacks (chips). The importer challenged the classification made under HS Code/ PCT Heading 1905.9000 by the assessment authority claiming that previously the identical… Continue reading

SHC dismisses 121 petitions challenging regulatory duty

KARACHI: The Sindh High Court has dismissed as many as 121 petitions filed by iron and steel importers challenging the regulatory duty on the import of several goods vide amendment to SRO 568(I)/2014. These 121 petition pertained to MCC Appraisement East and after the dismissal of these petitions, a revenue… Continue reading

Pakistan Customs and China Customs agree to implement Electronic Data Interchange

KARACHI: Pakistan Customs and China Customs have agreed to implement Electronic Data Interchange (EDI), which would eliminate misuse of concessionary regime under Free Trade Agreement (FTA) and revenue leakage by way of under-invoicing and misclassification would be plugged. A meeting between the Customs authorities of both Pakistan and China will… Continue reading

Budget proposals 2014-2015: FPCCI suggests to impose regulatory duty on imported items under FTA/PTA

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended that regulatory duty should be levied on items which are being imported under free trade agreement (FTA) and preferential trade agreement (PTA) in order to protect the local industry. It said that goods imported under these SROs… Continue reading