Pakistan Customs plans crackdown on import, distribution of counterfeit products

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 well as identify the places from where such goods are distributed and sold to the consumers. Collector Preventive Dr. Fareed Iqbal Qureshi has assigned Deputy Collector Muhammad Faisal to undertake a campaign against IPR violations.…

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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, Russia, Belarus, Poland, Germany, Belgium and France before arriving in London. Former British Prime Minister David Cameron raised some eyebrows with allies by pitching Britain as the pre-eminent gateway to the West for investment from…

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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 of Calcium Sulphate, Pharmaceutical Grade cleared from different Collectorates by mis-declaring the goods under PCT heading 2520.1010 attracting Customs Duty 10%. whereas the goods are correctly classifiable under PCT heading 2520.2000 chargeable to Customs Duty…

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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 lives in South Asia and economies in the region are also growing, but 2 percent official trade within the countries is not even at an average and this is because of political constraints and territorial…

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Pak, China Customs ink MoU to setup Electronic Data Interchange

KARACHI: Pakistan Customs and the China Customs have signed an agreement to establish Electronic Data Interchange (EDI) aimed at reducing the incidences of revenue losses/under invoicing. The sources told Customs Today that the Pakistan Customs, after the agreement was signed in China, procured software/machines for the EDI establishment. The EDI would help access trade documents on real time basis from computers of cross-border customs stations besides plugging the revenue losses which account to billions of rupees. It is recalled here that Federal Board of Revenue issued an alert regarding mis-declaration…

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