Traders move imported goods to bonded warehouses, as port terminals refuse to waive demurrage

KARACHI: As the terminal operators and shipping companies have refused to waive demurrage and detention charges, traders of imported goods have started moving their consignments to bonded warehouses. Dutiable goods can be stored at bonded warehouses without payment of import taxes for a period of six months. Importers only pay… Continue reading

SEGRO to sell £241 million of stand-alone UK big box warehouses

LONDON: SEGRO plc, a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property, has exchanged contracts to sell a portfolio of UK big box warehouses for £241 million to a fund advised by Morgan Stanley Real Estate Investing, acting… Continue reading

Warehouses of Haji Sadiq raided, large quantity of smuggled goods recovered

KARACHI: MCC Preventive Quetta raided warehouses of notorious smuggler Haji Abdul Sadiq Achakzai and recovered large quantity of smuggled goods along with fake and forged documents. Four persons were arrested and four trucks load of goods were seized. Haji Abdul Sadiq Achakzai and his brothers are accused in the murder… Continue reading

Surcharge waiver granted on overstayed goods

KARACHI: In order to facilitate the trade and to alleviate the problems of importers due to stuck-up overstayed goods, the Federal Government has issued Notification No. SRO 434(1)2019, whereby waiver/remission of penal surcharge has been allowed on all warehoused consignments, which are cleared during the period starting 8th April 2019… Continue reading

Cartel involved in pilferage of ISAF reverse cargo penalized

KARACHI: Collector Customs Adjudication Chaudry Muhammad Javaid has penalized the cartel involved in pilferage of ISAF reverse cargo including hazmat waste. The bonded carrier, clearing agent and freight forwarder have been imposed penalties but the US consulate and their focal person were not penalized due to obvious reasons, despite the… Continue reading

MCC Hyderabad makes exceptional performance in March

KARACHI: During the month of March, 2016 Anti Smuggling Squad (ASO) Model Customs Collectorate Hyderabad under the instruction of Collector Agha Shahid Majeed Khan conducted various operations/raids at various warehouses and recovered several goods including contraband items like foreign origin cigarettes, Indian origin gutkha etc worth Rs50.19 million. This operation… Continue reading