SBP allows import advance payment facility for manufacturers against LCs
KARACHI: State Bank of Pakistan (SBP) has allowed banks to make advance payment up to 50 per cent of the value of imports against letter of credit for manufacturing concerns.…
Customs to implement I-form mechanism to track import transactions
KARACHI: Pakistan Customs is preparing a module in the WeBOC system to enable mandatory uploading of import-form i.e. I-Form for recording of the transaction between the importer and exporter. A…
Customs recover Rs70 million from M/s Fazal Elahi & Sons
KARACHI: MCC Appraisement West has recovered an amount of Rs63.113 million, which an importer evaded through suppressing actual value of imported consignments. According to details, Model Customs Collectorate of Appraisement…
MCC Appraisement East detects fiscal fraud involving millions of rupees
KARACHI: The Collector of Customs Adjudication Javed Chaudry has served Show Cause Notice on the importer and clearing agents for evading government revenue through suppressing actual value of imported consignments.…