Author Archives: Anjali

Budget Proposals 2017/2018: Temporary moratorium on FTAs recommended


KARACHI: Pakistan Business Council (PBC) has recommended the government to place a temporary moratorium on Free Trade Agreements (FTAs) until the existing are renegotiated. “This would stem the loss of tax revenue and help local industry to build scale, gain competitiveness and generate value-added exports,” PBC said in its budget proposals for budget 2017/2018 sent to Haroon Akhtar, Special Assistant to Prime Minister on Revenue.

Pakistan Customs directs shipping lines to withdraw port congestion charges


KARACHI: Pakistan Customs has directed shipping lines and carriers to immediately withdraw port congestion charges. The directives issued on the request of Karachi Customs Agents Association (KCAA), which strongly criticized the imposition of port congestion charges $150 per 20 TEU and $300 per 40 TEU from March 2017.

APCAA threatens country-wide protest against imposition of port congestion charges


KARACHI: All Pakistan Customs Agents Association (APCCA) has threatened protests across the country against imposition of port congestion charges by the shipping lines in case the penalty is not withdrawn.

Peshawar customs intelligence announces auction of confiscated vehicles on March 29


KARACHI: Directorate General of Intelligence and Investigation (I&I), Customs, Federal Board of Revenue (FBR), Peshawar has announced auction of confiscated vehicles scheduled for March 29, 2017 to be held at State Warehouse of the directorate.

Budget Proposals 2017/2018: 25pc tax rebate recommended for working women with children


KARACHI: Pakistan Business Council (PBC) has proposed 25 percent tax rebate for working women with children in order to reduce the cost of child care for mothers entering full time employment impacting net household income.

Customs to observe extended working hours on March 30, 31 for duty-tax collection


KARACHI: All customs collectorates will observe extended working hours on March 30 and 31 for collection of duty and taxes, said a notification issued by Federal Board of Revenue (FBR).

FBR appoints 153 inspectors, intelligence officers in customs department


KARACHI: Federal Board of Revenue (FBR) has appointed 153 officials in the Customs Department as inspector and intelligence officers on the recommendations of Federal Public Service Commission (FPSC).

Retail sector’s deposits fall by around 15pc since imposition of withholding tax on non-cash transactions


KARACHI: Bank deposits of retail sector has declined by around 15 percent since imposition of withholding tax on non-cash banking transactions.

Pak-Iran central banks to sign agreement for resuming banking channels next week: FPCCI


KARACHI: The two central banks of Pakistan and Iran are likely to sign agreement next week for opening banking channels to streamline trading activities between the two countries, Zubair Tufail, president, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Tuesday.

Bank holiday


KARACHI: State Bank of Pakistan (SBP) on Tuesday said that it will remain closed on March 23, 2017 (Thursday) being public holiday on the occasion ‘Pakistan Day’, as declared by the government.