Ports and Shipping Archives - Page 73 of 78

SBP amends QCR rating criteria for certifying remittance verification

January 25, 2023January 25, 2023Hamza Shahnawaz

KARACHI: State Bank of Pakistan (SBP) has amended Quality Control Review (QCR) criteria of accountancy firm regarding certification of remittance verification.

KCCI hails decision to waive demurrage, port charges

January 24, 2023January 24, 2023Faisal Shahnawaz

Karachi Chamber of Commerce and Industry (KCCI) on Tuesday appreciated the government decision to waive demurrage and port charges on all stuck up containers.

Pakistan waives port charges for stuck up containers for non-opening LCs

January 24, 2023January 24, 2023Faisal Shahnawaz

KARACHI: Pakistan has waived demurrage and detention charges for stuck containers at ports due to non-opening of letter of credits (LCs), a senior minister announced on Monday.

PNSC recommends tax incentives for shipping industry to grow

November 24, 2022November 24, 2022Hamza Shahnawaz

Pakistan National Shipping Corporation (PNSC) has emphasized the need to introduce tax incentives to help shipping industry to grow. In an analyst briefing a day earlier, the company emphasized the need to introduce tax incentive measures to flourish the shipping industry which will minimize outflow of valuable national foreign reserves. According to Insight Research, PNSC […]

Sindh exempts sales tax on services provides for floods relief by customs agents, port operators

November 6, 2022January 18, 2024Hamza Shahnawaz

The Sindh government has taken a significant step in supporting flood relief operations by exempting sales tax on services provided by customs agents and terminal operators.

ECC approves clearance of banned items landed till August 18, 2022

September 22, 2022September 22, 2022Mrs. Anjum Shahnawaz

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the customs clearance of banned items, which landed till August 18, 2022. Federal Minister for Finance and Revenue Miftah Ismail virtually presided over the meeting of the ECC. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal […]

Industry slams finance ministry for blocking letter of credit

August 30, 2022August 30, 2022Faisal Shahnawaz

KARACHI: The industry has strongly criticized the ministry of finance for directing banks not to open letters of credit for essential machinery, equipment and spare parts. “Pakistan’s industrial sector is gradually heading towards doldrums because of the adamant attitude of Ministries of Finance and Commerce to block banks from opening Letters of Credit or remitting […]

Karachi Port mulls to determine demurrage charges

August 29, 2022August 29, 2022Hamza Shahnawaz

KARACHI: Syed Muhammad Tariq Huda, Chairman, Karachi Port Trust has said that the port is considering to establish a regulator body to determine demurrage charges at the port. The formation of regulatory body will be announced soon, he said in his address at a meeting held at Korangi Association of Trade and Industry (KATI). On […]

Clearance of banned cars, phones allowed on 100% surcharge

August 20, 2022August 22, 2022Mrs. Anjum Shahnawaz

ISLAMABAD: The government has allowed clearance of stuck up consignments of cars and mobile phones on payment of 100 per cent surcharge. The ministry of commerce on Friday issued an office memorandum regarding prohibition / complete quantitative restrictions on import of non-essential and luxury items. READ MORE: Pakistan lifts ban on import of cars, phones, […]

Pakistan lifts ban on import of cars, phones, luxury items