Bottlenecks and resulting supply shortages to persist for some time

It might be a long wait before prices stabilize for everyone This whole year has been nothing less than apocalyptic for several economies. Port congestions brought forth series of business conundrums, aggravated by climate-related pressures. Soaring shipping rates also became the public enemy. Obsession with inflation warranted When port congestion dominated headlines, many businesses were either […]

Pakistan Customs plans crackdown on import, distribution of counterfeit products

under-invoicing cases to be processed under money laundering laws

KARACHI: Customs Enforcement South has launched a campaign against import, distribution and sale of counterfeited products in the country in a bid to support Intellectual Property Rights (IPR) and deter trade in counterfeit goods.Chief Collector Enforcement South Wasif Memon has advised the field formation to keep strict vigilance on the import of such goods as […]

China begins freight train service to London

BEIJING: China has begun its first freight train service to London from Yiwu, a famed wholesale market town in the eastern province of Zhejiang, the Xinhua news agency reported. The train will travel for 18 days over more than 7,500 miles (12,000 km) to reach Britain from China, Xinhua said. It will pass through Kazakhstan, […]

Customs penalizes importer, agents for availing inadmissible concessions

KARACHI: Collector Customs Adjudication Chaudry Mohammad Javaid has penalized M/s BSN Medical pvt Ltd and several clearing agents for inflicting loss on exchequer through claiming inadmissible benefit of concessionary SRO. Directorate of Post Clearance Audit (PCA) during scrutiny of clearance of calcium sulphate [Pharmaceutical Grade) observed that M/s. BSN Medical Private Limited imported various consignments […]

Exports within SAARC countries

According to a World Bank report titled Global Economic Prospects, the official trade volume within the SAARC countries is less than 2 percent of their gross domestic product as export flows of the South Asian nations are highly concentrated with the European Union and United States. At least the one third of the world population […]