FBR may withdraw Afghan Transit Sugar Case tomorrow

KARACHI: The Federal Board of Revenue (FBR) which rigorously contested Afghan Transit Sugar Case up to Supreme Court of Pakistan through Senior Advocate Raja Muhammad Iqbal, is going to withdraw the same tomorrow i.e Wednesday, Nov 25, Custom News learnt from reliable sources. According to details, the government law officer… Continue reading

SHAISTA BANO GILLANI TAKES CHARGE AS CHAIRPERSON CCP

ISLAMABAD: Ms. Shaista Bano Gillani has taken charge as the Chairperson, Competition Commission of Pakistan (CCP). The Finance Division on Monday issued a notification after the federal cabinet in its meeting held on 28 April 2020 approved the appointment of Ms. Shaista Bano as the Chairperson CCP, on acting charge… Continue reading

Utility Stores Corporation to buy 200,000 tons of sugar from millers, stockists

KARACHI: Utility Stores Corporation (USC) is procuring 200,000 tons of white refined sugar from millers and stockists as marked difference in sugar prices from the retail market and insufficient supplies have lengthened queues at its stores across the country amid lockdown ahead of Ramadan. USC has invited bids for supply… Continue reading

Supreme Court to hear Custom’s appeal on Jan 16, SHC to hear contempt application on Jan 15

KARACHI: An appeal filed by Pakistan Customs, Directorate of Afghan Transit Trade, Karachi against an order of Custom’s Appellate bench of High Court of Sindh in a case of sugar of Indian origin destined for Afghanistan, will be heard by a bench of Supreme Court of Pakistan on Jan 16…. Continue reading

SHC allows petition involving sugar destined for Afghanistan

KARACHI: A customs appellate bench of High Court of Sindh allowed a petition filed by Faisal Arif Ltd, importer of Sugar meant for destination in Afghanistan (Afghan Transit Trade) with the direction to the Pakistan Customs to ensure safe passage of the consignments. The sugar was detained by the custom… Continue reading

Indian firm ships ‘unfit for human consumption goods’ to Afghanistan; 500 container-load of sugar seized

KARACHI: Directorate General of Transit Trade has seized 500 containers of sugar, which came from India for onward transit to Afghanistan, as it was found to be expired and unfit for human consumption. Information was received through Director Transit Trade Zeba Azhar regarding arrival of sub-standard sugar from India shipped… Continue reading

Sales tax on sugar increased to 17%

KARACHI: Federal budget 2019-20 has proposed to increase sales tax on sugar to 17% from existing 8.0%. [the_ad id=”31605″]Presently Sugar is subject to sales tax at 8%. This sector has huge economic potential but the tax collection from this sector is Rs 18 billion which is much lower than its… Continue reading

FBR to outsource electronic tax stamping of tobacco, beverages, sugar, fertilizer and cement

KARACHI: The Federal Board of Revenue (FBR) has decided to outsource, through licensing, the electronic monitoring, tracking and tracing of production, import and supply chain of tobacco products, beverages, sugar, fertilizer and cement. The tax stamping will be outsourced to companies through licensing, while the fees for tax stamping will… Continue reading

Naubahar Bottling Company intends to acquire Baba Farid Sugar Mills

KARACHI: Naubahar Bottling Company Pvt Ltd, largest manufacturer and distributor of Pepsi Cola soft drinks in Pakistan, through AKD Securities Limited has expressed intention to acquire 98.23 percent stake in Baba Farid Sugar Mills Limited. Naubahar Bottling Company, Gujranwala is engaged in the business of beverages. Muhammad Shamim Khan, Qaiser… Continue reading