Historic step – Islamabad-Tehran-Istanbul Road Corridor Becomes Operational for Trade


ISLAMABAD – The first two National Logistics Company (NLC) Trucks carrying goods from Pakistan reached Turkey via Iran, under the Transports Internationaux Routiers (TIR) convention. A ceremony was held on Friday at Murat Bey Customs Post in Istanbul to mark the launch of the tri-nation road corridor. The NLC trucks departed from Karachi on September 28 and reached Istanbul on October 7 covering a distance of 5300 Kilometers, said an official statement. Senior officials of the Turkish Ministry of Transport and Infrastructure, Ministry of Trade, Chamber of Commerce & Commodity…

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Custom Values of Tyres & Tubes (Light Truck & Truck/Bus)

  Custom C&F Values in US$ per piece (As on 30-08-2018 under Valuation Ruling # 1319) S # HS Code Vehicle Type RIM Size Tyre Size Japan Int’l India China Others 1 4011.2011 Light Truck Radial 12 145-R12C-8PR 14 13 13 10 12 2 4011.2019 Light Truck 10 480-10/500-10/8pr 13 12 12 9 11 3 4011.2019 Light Truck 12 450-12-8pr 14 13 13 10 12 4 4011.2019 Light Truck 12 500-12-6PR 16 14 14 11 13 5 4011.2019 Light Truck 12 500-12-8PR 18 16 16 12 15 6 4011.2019 Light…

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Nausheen Javaid officially new FBR Chairperson

KARACHI: The Establishment Division, Government of Pakistan, has terminated the appointment of Syed Muhammad Shabar Zaidi as Chairman Federal Board of Revenue (FBR) and appointed Ms. Nausheen Javaid Amjad as the new Chairperson of FBR with immediate effect. Ms. Nausheen Javaid Amjad (BS-22) is presently posted as Member (Admin) FBR with additional charge of Chairperson FBR. An official said now that Ms. Nausheen is appointed Chairperson FBR, she would be able to take decisions with full authority, and several reforms are likely to be introduced in the near future.  The…

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Under-invoicing cases to be processed under money laundering laws

under-invoicing cases to be processed under money laundering laws

KARACHI: The Directorate of Post Clearance Audit (PCA) has initiated scrutiny and analysis of last five year data comprising FIRs lodged for under-invoicing, mis-declaration and over-invoicing, Order-in-Originals and Contravention Reports served on importers and traders. The cases of under-invoicing, mis-declaration and over-invoicing would now be processed under Anti-Money Laundering Act also. First case has been lodged against M/s Megaplus Pakistan, wherein the authorities are determining the means of illegal transfer of funds from Pakistan. Ministry of Finance has reportedly assigned Directorate of Post Clearance Audit (PCA) and its high profile…

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ECC bans wheat export from Pakistan

ISLAMABAD: The federal government on Wednesday decided to impose a ban on export of wheat and wheat flour amid rising concern over the price hike trend of roti and other wheat products in the wake of low wheat production in the country. The cabinet’s Economic Coordination Committee (ECC), headed by Adviser to Prime Minister on Finance and Revenue Dr Hafeez Shaikh, took the decision at a meeting. During the Rabi season 2018-19, the ministry of national food security and research recorded 24.12 million tonnes of wheat production against the projected…

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