Pact with IPPs good step but forensic audit must to save industry: FPCCI

As the production cost continues to go high and Pakistan has become uncompetitive in global market the Federation of Pakistan Chambers of Commerce & Industry has termed the government’s recent agreement with the Independent Power producers a right step in the right direction to lower cost of electricity generation, also… Continue reading

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

Government announces relief and revenue measures in federal budget

KARACHI: Government of Pakistan through Federal Budget 2016-17 has announced several relief measures for local industry along with various revenue measures and tariff rationalization. The relief measures include reduction of duty from 11 percent to 3.0 percent and removal of 5.0 percent regulatory duty (RD) on grandparent and parent stock… Continue reading

Samaira DG Customs Valuation rejects fibre cement board revision petition

KARACHI: Samaira Nazir Khan Director General (DG) Directorate General of Customs Valuation Karachi has rejected the revision petition of Pre-Engineered Building Industries Private Limited under Section 25D of Customs Act. 1969 against Valuation Ruling No. 777/2015 December 4, 2015 regarding Fibre Cement Board import from China and India. The petitioner… Continue reading

Custom fails in checking Cement smuggling from Iran

KARACHI: The Cement smuggled into Pakistan from Iran was being sold openly in border areas of Balochistan including Dalbandin, Mandblu etc. The cement manufactured in Pakistan lost demand as the prices of the smuggled cement is 40 per cent less making the locally manufactured commodity uncompetitive, market sources said adding… Continue reading

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