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

Telenor reveals 20 Tech Trends that will shape 2020

Karachi: Bjørn Taale Sandberg, Head of Telenor Research, revealed during his latest visit to Pakistan, the 20 technology trends that will shape the year 2020. Like the previous year, this year’s technology trends, as projected by Telenor Group’s research arm, will take a prominent lead in developing the global digital… Continue reading

SHC to hear petition by hide importer, exporter on May 02

KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Arshad Hussain on Tuesday fixed May 02 to hear a petition filed by Qasim Brothers, importers, exporters of cow hides and skin. The controversy involves application of application of PCT heading according… Continue reading

PVC, PTA margins decline in January 2019

KARACHI: During January 2019, PVC and PTA margins declined by 1.8 percent MoM (USD 472/ton) and 19.9 percent MoM (USD 133/ton), respectively. However, PSF margins are up by 18.1 percent MoM (USD 336/ton). The changes in margins will have positive implications for ICI Pakistan Limited (ICI) and negative for Lotte… Continue reading

Cannot go beyond boundary of 10 per cent, rules SHC

KARACHI: A customs appellate bench of High Court of Sindh (SHC ) headed by Justice Aqeel Ahmed Abbasi on Wednesday ruled that Customs department cannot go beyond the boundary of 10 per cent as envisaged in relevant SRO. The bench was hearing a petition filed by Organge Leaf Company which… Continue reading

MCC Preventive proposes rationalization of tariff structure

KARACHI: MCC Preventive Karachi has submitted its proposals to the Federal Board of Revenue (FBR) for consideration for the upcoming Federal Budget, which is expected to be announced in the last week of April 2018. MCC Preventive has proposed revision on the duty/tax structure on the import of certain products… Continue reading

SHC disposes off petition by hide exporter, rejects intervention by PTA

KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Agha Faisal on Wednesday ordered that export of hide be allowed on payment of duty and taxes according to weight. The bench throw out the comments filed by Pakistan Tanners Association observing that they have no… Continue reading

Customs values of polyester filament yarn revised

KARACHI: Director Customs Valuation Karachi Iqbal Muneeb has revised the customs values of polyester filament yarn vide Valuation Ruling No.1269/2018. The customs values of polyester filament yarn were earlier determined vide Valuation Ruling No.1049/2017. There was a representation from Filament Yarn Manufacturers Association, wherein they contended that due to the… Continue reading

Hides case to be heard by SHC on March 14

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Mrs Ashraf Jahan on Friday adjourned hearing in a petition filed by an exporter of animal hides till March 14. The petitioner challenged detention of his consignment on the basis of a letter issued… Continue reading

Court stays seizure of mobile phones

KARACHI: The Sindh High Court has stayed seizure of mobile phones of M/s Yamaar Ahmedzai and Saif Hayat. Customs Adjudication had served Show Cause Notice on Afghan based importer M/s Yamaar Ahmadzai for attempting to transport mobile phones to Afghanistan for their onward smuggling back into Pakistan. Directorate of Transit… Continue reading

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