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Cabinet mulls case of mis-declared import

Cabinet mulls case of mis-declared import
Private company misreports import of two units of truck mounted cranes
ISLAMABAD:
A private company has mis-declared import of two units of old and used double cabin truck mounted cranes, a case that has now landed in the federal cabinet.
The Ministry of Commerce has sought one-time permission for post-shipment inspection of two units of truck mounted cranes that were imported for wind generation project in relaxation of the Import Policy Order (IPO) 2020.
However, during discussion, cabinet members pointed out that reasons for not conducting pre-shipment inspection had not been mentioned in the summary and questioned how the cranes were declared as “temporary import” in terms of Para 13 of IPO, 2020, which was restricted to construction, oil exploration and mining companies while Tricorn Wind Power (Pvt) Ltd was registered as an electric power generation company. ....

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Senate committee asks ministry to explain reasons for stagnant exports - Newspaper

Senator Saleem Mandviwalla raised the issue that exports had remained stagnant at 2013 level of $24bn in FY21. AFP/File
ISLAMABAD: The Senate Standing Committee on Commerce has asked the Ministry of Commerce to explain reasons for stagnant export proceeds from the country in the last decade with Pakistan also lagging behind in the region.
The committee chaired by Senator Zeeshan Khanzada on Monday showed its concerns over the low exports and sought reasons from the commerce ministry in the next meeting.
Senator Saleem Mandviwalla raised the issue that exports had remained stagnant at 2013 level of $24bn in FY21. “We are also lagging behind Bangladesh and Vietnam having annual export earnings of $50bn and $100bn, respectively,” he added. ....

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Govt may slash taxes on cars

Vehicles up to 800cc likely to become cheaper after budget ....

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What is Pakistan's trade policy?

What is Pakistan's trade policy?
tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.

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ECC okays Rs90bn payment to IPPs - Newspaper

Minister for Finance and Revenue Shaukat Tarin presided over the ECC meeting. Photo courtesy Radio Pakistan
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved payment of Rs90 billion to 35 independent power producers (IPPs). The ECC also decided to give a last chance to K-Electric (KE) for settling Rs212bn payments and inking an agreement for additional power intake from the national grid on timely payments.
The ECC meeting, presided over by Minister for Finance and Revenue Shaukat Tarin, also approved lowering taxes on Chinese investors of hydropower projects in Azad Jammu & Kashmir (AJK), exempting the import of oxygen and related equipment from duties and taxes besides an additional Rs27.5bn grant for disaster management schemes in Karachi. ....

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