Sep 12

Ship not to be allowed leaving without payment: Zaidi

ISLAMABAD: Ali Haider Zaidi, Federal Minister for Maritime Affairs on Sunday said that the standard ship in Karachi would not be allowed to leave without recovering outstanding dues and inspection expenditures. Speaking to media here, he said that the ship was stranded and taken off the shores of Karachi. This is the first ship to […]

by Hamza Shah

Pakistan detains ship ‘Heng Tong 77’ for unseaworthy

Aug 11

Ports and Shipping

Pakistan detains ship ‘Heng Tong 77’ for unseaworthy

KARACHI: Pakistan on Tuesday detained a cargo ship, which was stuck up at Karachi Seaview beach on July 21, 2021. The government has taken the decision to detain the ship after an inspection found the vessel in defective condition. According to a letter issued by a department of Ministry of Maritime Affairs to the captain […]

by Hamza Shah

Karachi Port confirms sinking of sugar cargo container

Aug 1

Ports and Shipping

Karachi Port confirms sinking of sugar cargo container

KARACHI: Karachi Port Trust (KPT) has confirmed the sinking of a container laden with sugar through a statement released few moments ago. It is stated: “Truck loaded with sugar cargo while leaving berth number 5, East Wharf, after issuance of bilty encountered mechanical failure at around 5:20 pm today [Saturday], dated: 31.07.2021, fell in port […]

by Anjum Shah

Container carrying 39MT sugar sinks at Karachi Port

Aug 1

Ports and Shipping

Container carrying 39MT sugar sinks at Karachi Port

KARACHI: A container carrying around 39 metric tons (MT) of refined sugar fell into the sea from a ship berthed at the Karachi Port on Saturday evening. The container fell into the sea while handling by a trawler at berth No. 5 West Wharf of Karachi Port, sources said. It is believed that the container, […]

by Faisal Shah

Banks may accept container detention, demurrage charges

Apr 5

Money & Banking, Ports and Shipping

Banks may accept container detention, demurrage charges

KARACHI: The State Bank of Pakistan (SBP) has issued draft amendment to Foreign Exchange Manual under which banks may be allowed to accept container detention charges and demurrage charges in order to facilitate trade in payments. The SBP issued the draft amendments and invite stakeholders’ comments before finalizing the foreign exchange manual. According to the […]

by Anjum Shah

Customs Rules tightened for International Transshipment

Jan 8

Pakistan Customs, Ports and Shipping

Customs Rules tightened for International Transshipment

ISLAMABAD: Federal Board of Revenue (FBR) has tightened the monitoring of international transshipment of imported cargo from gateway port to a foreign port. The FBR issued SRO 03(I)/2021 to amend Customs Rules, 2001. The FBR amend Rule 510A regarding transshipment of imported cargo from gateway port to a foreign port and made it mandatory the […]

by admin

Transit trade activity starts at Gwadar Port

Nov 23

Pakistan Customs, Ports and Shipping

Transit trade activity starts at Gwadar Port

ISLAMABAD: A first carrier containing 200 tons of fish from international waters arrived at Gwadar. The fish will be shipped to China in reefer containers, said Federal Board of Revenue (FBR) on Monday. According to the FBR statement the arrival of the container at the Gwadar Port will open a new era of prosperity and […]

by admin

Pak-Qater signs deal to provide online Takaful services to HashMove clients

Nov 16

Corporate, Ports and Shipping

Pak-Qater signs deal to provide online Takaful services to HashMove clients

KARACHI: Pak-Qatar General Takaful (PQGTL) has signed a MoU with HashMove (a global multi-modal logistics platform) to provide online Takaful coverage for cargo (Sea/Air/Warehousing & Land) for businesses in Pakistan. The purpose of this agreement is to enter into a strategic collaboration, enabling marine and fire Takaful service for sea/air and land cargo and commodities […]

by admin

List of companies for pre-shipment inspection under import policy

Sep 28

Ports and Shipping

List of companies for pre-shipment inspection under import policy

ISLAMABAD: The ministry of commerce has issued list of companies for pre-shipment inspection as envisaged in different provisions of Import Policy Order, 2020 shall be done in the exporting country. The ministry issued SRO 902(I)/2020 dated September 25, 2020 to notify the Import Policy Order 2020. Following are the name of the companies under Appendix-H […]

by admin

Resident shipping companies granted final tax regime

Sep 12

Ports and Shipping, Taxation

Resident shipping companies granted final tax regime

ISLAMABAD: The income tax law has allowed final tax regime for Pakistani resident shipping company, which is registered after November 15, 2019. According to explanation to changes made to Income Tax Ordinance, 2001 through Finance Act, 2020, the FBR said that clause (c) has been added to sub-section (1) of section 7A to provide for […]

by admin