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Print - 2017-01-26
Rise in populism risks worsening corruption: watchdog

Rise in populism risks worsening corruption: watchdog

The rise of populist politicians around the world risks undermining the fight against corruption, an anti-graft watchdog said Wednesday, warning that it feared a backslide in the US under new President Donald Trump. "Populism is the wrong medicine," Trans
Published 26 Jan, 2017 12:00am
Cotton prices higher on strong demand
Cotton

Cotton prices higher on strong demand

A strong buying by mills pushed the rate higher on the cotton market on Wednesday in the process of trading activity, dealers said. The official spot rate was higher by Rs 50 to Rs 6550, dealers said. In Sindh, seed cotton prices were at Rs 3100-3450, the
Published 26 Jan, 2017 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 182,911 tonnes of cargo comprising 157,186 tonnes of import cargo and 25,725 tonnes of export cargo including 5,107 loaded and empty containers during the last 24 hours ending at 0700 hours on Wednesday.
Published 26 Jan, 2017 12:00am
Chinese steel, iron ore futures rise

Chinese steel, iron ore futures rise

Chinese steel and iron ore futures rallied on Tuesday as investors chased prices higher after a four-day retreat, betting demand will pick up following the Lunar New Year break as Beijing moves to spur economic activity.
Published 26 Jan, 2017 12:00am
Palm oil prices firmer on European vegoils market

Palm oil prices firmer on European vegoils market

Asking prices for palm oil in Europe firmed on Tuesday on concerns that monsoon floods could continue to hamper output while exports were improving. Asking prices for palm oil were between $5 and $15 a tonne up from Monday, also aided by a strong ringgit,
Published 26 Jan, 2017 12:00am
A 'new world order' trading bloc

A 'new world order' trading bloc

In an article, "Roads to nowhere, Pakistan's misguided obsession with infrastructure", (January 17, 2017), the Economist has painted a very bleak future for the China Pakistan Economic Corridor (CPEC) as a futile attempt to connect a non-performing Pakist
Published 26 Jan, 2017 12:00am
US FOB Gulf corn, soya offers unchanged

US FOB Gulf corn, soya offers unchanged

Export premiums for corn and soyabeans shipped from the US Gulf Coast were mostly flat on Tuesday, capped by easing CIF barge basis values and light to moderate export demand, traders said. Wheat export premiums were mostly steady to firm, with spot value
Published 26 Jan, 2017 12:00am
US natural gas futures rise

US natural gas futures rise

US natural gas futures rose on Tuesday on forecasts for colder-than-normal weather and higher heating demand expected to last into the second week of February. That increase came despite a warmer-than-normal outlook through January 27 and for much of the
Published 26 Jan, 2017 12:00am
Vietnam's coffee prices drop

Vietnam's coffee prices drop

Vietnam's domestic coffee prices dropped after having hit their highest in over five years last week, amid a slowing market ahead of the Lunar New Year holidays. Coffee prices in Daklak decreased to 46,700-47,000 dong ($2.07-$2.08) per kg, from 46,300-46,
Published 26 Jan, 2017 12:00am
PMEX daily trading report
Cotton

PMEX daily trading report

On Tuesday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,121. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 2.98 billion and the number of lots traded was 7,392. Major business was contributed by cur
Published 26 Jan, 2017 12:00am
Message from Prime Minister of the Islamic Republic of Pakistan

Message from Prime Minister of the Islamic Republic of Pakistan

Pakistan is celebrating the International Customs Day on 26th January, 2017 to acknowledge the valuable contributions of customs officials and agencies for enhancing border security and integrity of the movement of goods in order to preserve economic inte
Published 26 Jan, 2017 12:00am
Message from Minister for Finance & Revenue

Message from Minister for Finance & Revenue

This year's International Customs Day signals the onset of the World Customs Organisation (WCO)'s year of "Data Analysis" with the slogan "Data Analysis for Effective Border Management". Data Analysis is an important element in the Customs modernisation p
Published 26 Jan, 2017 12:00am
Message from Special Assistant to the Prime Minister for Revenue

Message from Special Assistant to the Prime Minister for Revenue

The role of Customs, over the past decade or so, has diversified and transformed. Customs has an integral role in the globalisation process and is a catalyst for competitive forces across the globe. Customs is not only the collector of state revenue, but
Published 26 Jan, 2017 12:00am
Message from Chairman Federal Board of Revenue

Message from Chairman Federal Board of Revenue

Customs fraternity, including Pakistan Customs is celebrating International Customs Day on 26thJanuary, 2017. I extend my profound felicitations to all officers and officials of Pakistan Customs on this special day.This year International Customs Day hera
Published 26 Jan, 2017 12:00am
Message from Secretary General World Customs Organisation

Message from Secretary General World Customs Organisation

Data is generated by every economic activity, including the movement of goods and people and circulates extensively along the global value chain. Collecting and analysing data to enhance the effectiveness of border management is of paramount importance to
Published 26 Jan, 2017 12:00am
Message from Chief (International Customs), FBR

Message from Chief (International Customs), FBR

Today, the Customs fraternity around the globe is celebrating International Customs Day under the umbrella of the World Customs Organisation (WCO). The theme chosen for this year's International Customs Day: "Data Analysis for Effective Border Management"
Published 26 Jan, 2017 12:00am
Message from Collector MCC Preventive
Currency

Message from Collector MCC Preventive

Border management is one of the biggest challenges of our times and Customs administrations all around the world are facing it with appropriate response. The efficient and effective border management ensures security and smooth trade flow - import-export
Published 26 Jan, 2017 12:00am
Message from President, 2016-2017 Karachi Customs Agents Association

Message from President, 2016-2017 Karachi Customs Agents Association

On the auspicious occasion of International Customs Day which is celebrated every year on the 26th of January by the World Customs Community across the globe, I extend my warm felicitations to all officers and officials of the Pakistan Customs. The Brusse
Published 26 Jan, 2017 12:00am
CPEC and role of Pakistan Customs - An analysis

CPEC and role of Pakistan Customs - An analysis

China Pakistan Economic Corridor (CPEC) is journey towards economic regionalization in the globalized world. This will deepen and broaden economic links between Pakistan and China and will surly leave a positive impact on other countries of the region. Th
Published 26 Jan, 2017 12:00am
Data analysis for effective border management

Data analysis for effective border management

WCO has dedicated 2017 to promote the use of data analysis under the slogan "Data Analysis for Effective Border Management." Data Analysis is defined as "a process of inspecting, cleansing, transforming, and modelling data with the goal of discovering use
Published 26 Jan, 2017 12:00am
Pakistan Customs: Pushing the borders out through data

Pakistan Customs: Pushing the borders out through data

World Customs Organization's slogan for International Customs Day this year is "Data Analysis for Effective Border Management". The choice of this slogan is a crucial recognition of the inadequacy of traditional model of border management. Ever increasing
Published 26 Jan, 2017 12:00am
Institutional reforms a pre-requisite for enhancing country's exports

Institutional reforms a pre-requisite for enhancing country's exports

It is learnt that government is planning to minimise the physical examination of export consignments at port stage through establishing reliance on scanners which are being installed. It would be a welcoming move on part of the government, provided all lo
Published 26 Jan, 2017 12:00am
TIR system and Pakistan

TIR system and Pakistan

TIR Convention is a multilateral treaty that was concluded at Geneva on 14 November 1975. TIR stands for "Transports Internationaux Routiers". The convention was adopted under the auspices of the United Nations Economic Commission for Europe (UNECE). As o
Published 26 Jan, 2017 12:00am
Data Analysis: a tool for customs enforcement

Data Analysis: a tool for customs enforcement

In the contemporary world, governments are under pressure to perform more efficiently and effectively. Revenue administrations are no exception, as they have to balance the decreasing resources and ever-increasing risks, often in difficult economic circum
Published 26 Jan, 2017 12:00am
Evolving challenges and importance of data analysis in transit trade

Evolving challenges and importance of data analysis in transit trade

This year the theme for international Customs Day is "DataAnalysis" with the slogan of "DataAnalysis for Effective Border Management". This article shall discuss the importance of data analysis in transit trade in view of evolving opportunities and challe
Published 26 Jan, 2017 12:00am
WCO Data Model and WeBOC

WCO Data Model and WeBOC

The WCO (World Customs Organisation) has called up on all members to further promote efforts and initiatives in a sector that is becoming key element in Customs modernisation process i.e. Collecting and Analysing data. It is in this context, that the year
Published 26 Jan, 2017 12:00am
'Transforming WeBOC into Pakistan's national single window'

'Transforming WeBOC into Pakistan's national single window'

Since the early 1990s Customs administrations have been developing automated systems to improve trade facilitation and to achieve effectiveness in revenue collection. Advancements in information technology have enabled governments to make dramatic improve
Published 26 Jan, 2017 12:00am
Data analysis

Data analysis

What we do in our daily life from dawn to dusk; we process information. This is important for our survival and growth. Machines can help in all walks of life including information processing. What we can do, machines can do it very fast; by no means bette
Published 26 Jan, 2017 12:00am
Changing role of customs administration

Changing role of customs administration

The events of 9/11, when the United States suffered the worst terrorist attack in its history proved to be a defining moment that has changed the global security order. Since then, internal security has been at the forefront of the policy space in the US
Published 26 Jan, 2017 12:00am
Data analysis and effective border management

Data analysis and effective border management

The phenomenon of globalisation has shrunk the modern world into a small village interconnected through modern tools of information technology. The significant growth of both trade in goods/services coupled with growth in international travel has put Cust
Published 26 Jan, 2017 12:00am
Customs reforms and modernisation in Pakistan

Customs reforms and modernisation in Pakistan

The reform and modernisation programme was started by Pakistan Customs in 1994 when Pakistan Revenue Automation Limited (PRAL) was set up as a small ICT company associated with the Federal Board of Revenue (FBR). It is now one of the largest ICT solution
Published 26 Jan, 2017 12:00am
Public Service Delivery and Customs

Public Service Delivery and Customs

Pakistan Customs being the guardian of the economic frontiers of the country is a dynamic organisation performing many functions including revenue collection, diplomatic functions, and recovery of arrears of duty & taxes, trade facilitation and compliance
Published 26 Jan, 2017 12:00am
Dow crosses 20,000 on reinvigorated Trump rally

Dow crosses 20,000 on reinvigorated Trump rally

Global equity prices rallied and the Dow Jones Industrial Average blew past the psychological 20,000 level on Wednesday, lifted by strong Japanese trade data, robust earnings and hopes that US President Donald Trump will press ahead with a large fiscal sp
Published 26 Jan, 2017 12:00am
CPEC and Gwadar deep sea port-changing face of Pakistan

CPEC and Gwadar deep sea port-changing face of Pakistan

China Pakistan Economic Corridor (CPEC) is fast becoming life line of Pakistan. The size of the CPEC has been increased to more than $55 billion after China agreed to upgrade the main railway line from Karachi to Peshawar at a cost of $8bn. Major portion
Published 26 Jan, 2017 12:00am
Dow crosses 20,000 on reinvigorated Trump rally

Dow crosses 20,000 on reinvigorated Trump rally

Global equity prices rallied and the Dow Jones Industrial Average blew past the psychological 20,000 level on Wednesday, lifted by strong Japanese trade data, robust earnings and hopes that US President Donald Trump will press ahead with a large fiscal sp
Published 26 Jan, 2017 12:00am
Data Analysis for Economic Competitiveness

Data Analysis for Economic Competitiveness

The WCO is dedicating 2017 to promote data analysis under the slogan "Data Analysis for Effective Border Management." The purpose of designating a year for promotion of data analysis is to appraise the Customs administrations about the importance of this
Published 26 Jan, 2017 12:00am
Dow crosses 20,000 on reinvigorated Trump rally

Dow crosses 20,000 on reinvigorated Trump rally

Global equity prices rallied and the Dow Jones Industrial Average blew past the psychological 20,000 level on Wednesday, lifted by strong Japanese trade data, robust earnings and hopes that US President Donald Trump will press ahead with a large fiscal sp
Published 26 Jan, 2017 12:00am
Trump orders building of Mexico wall, targets US 'sanctuary cities

Trump orders building of Mexico wall, targets US 'sanctuary cities

President Donald Trump on Wednesday signed directives to build a wall along the US border with Mexico and crack down on US cities that shield illegal immigrants, proceeding quickly on sweeping and divisive plans to curb immigration and boost national secu
Published 26 Jan, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 26 Jan, 2017 12:00am
Trump orders building of Mexico wall, targets US 'sanctuary cities

Trump orders building of Mexico wall, targets US 'sanctuary cities

President Donald Trump on Wednesday signed directives to build a wall along the US border with Mexico and crack down on US cities that shield illegal immigrants, proceeding quickly on sweeping and divisive plans to curb immigration and boost national secu
Published 26 Jan, 2017 12:00am
New York cotton

New York cotton

The following were the fluctuations observed during the day:

Published 26 Jan, 2017 12:00am
KP, Sindh refuse to contribute to fertilizer subsidy scheme

KP, Sindh refuse to contribute to fertilizer subsidy scheme

Provincial governments of Khyber Pakhtunkhwa and Sindh have refused to contribute to the continuation of fertilizer subsidy for the remaining six months of the current fiscal year and only Punjab has agreed to contribute its share to the subsidy scheme. S
Published 26 Jan, 2017 12:00am
State Bank of Pakistan conversion rates
Currency

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 26 Jan, 2017 12:00am
KP, Sindh refuse to contribute to fertilizer subsidy scheme

KP, Sindh refuse to contribute to fertilizer subsidy scheme

Provincial governments of Khyber Pakhtunkhwa and Sindh have refused to contribute to the continuation of fertilizer subsidy for the remaining six months of the current fiscal year and only Punjab has agreed to contribute its share to the subsidy scheme. S
Published 26 Jan, 2017 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 26 Jan, 2017 12:00am
KP, Sindh refuse to contribute to fertilizer subsidy scheme

KP, Sindh refuse to contribute to fertilizer subsidy scheme

Provincial governments of Khyber Pakhtunkhwa and Sindh have refused to contribute to the continuation of fertilizer subsidy for the remaining six months of the current fiscal year and only Punjab has agreed to contribute its share to the subsidy scheme. S
Published 26 Jan, 2017 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (January 25, 2017).

Published 26 Jan, 2017 12:00am
CPEC sovereign guarantees may not augur well for budget

CPEC sovereign guarantees may not augur well for budget

Sovereign guarantees extended by the federal government for China Pakistan Economic Corridor (CPEC) energy and infrastructure projects may have serious implications on the budget as well as on the economy. Sources revealed that if the government procures
Published 26 Jan, 2017 12:00am
CPEC sovereign guarantees may not augur well for budget

CPEC sovereign guarantees may not augur well for budget

Sovereign guarantees extended by the federal government for China Pakistan Economic Corridor (CPEC) energy and infrastructure projects may have serious implications on the budget as well as on the economy. Sources revealed that if the government procures
Published 26 Jan, 2017 12:00am
Currency notes: exchange rates
Currency

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (January 25, 2017).

Published 26 Jan, 2017 12:00am
CPEC sovereign guarantees may not augur well for budget

CPEC sovereign guarantees may not augur well for budget

Sovereign guarantees extended by the federal government for China Pakistan Economic Corridor (CPEC) energy and infrastructure projects may have serious implications on the budget as well as on the economy. Sources revealed that if the government procures
Published 26 Jan, 2017 12:00am
Remuneration practices: SBP unveils revised guidelines

Remuneration practices: SBP unveils revised guidelines

In order to enable banks and DFIs for preparation of a risk-aligned fair remuneration policy, the State Bank of Pakistan (SBP) Wednesday issued revised guidelines on remuneration practices. According to SBP, the objective of these guidelines is to provide
Published 26 Jan, 2017 12:00am
Remuneration practices: SBP unveils revised guidelines

Remuneration practices: SBP unveils revised guidelines

In order to enable banks and DFIs for preparation of a risk-aligned fair remuneration policy, the State Bank of Pakistan (SBP) Wednesday issued revised guidelines on remuneration practices. According to SBP, the objective of these guidelines is to provide
Published 26 Jan, 2017 12:00am
Remuneration practices: SBP unveils revised guidelines

Remuneration practices: SBP unveils revised guidelines

In order to enable banks and DFIs for preparation of a risk-aligned fair remuneration policy, the State Bank of Pakistan (SBP) Wednesday issued revised guidelines on remuneration practices. According to SBP, the objective of these guidelines is to provide
Published 26 Jan, 2017 12:00am
Equities shed gains

Equities shed gains

Pakistan Stock Exchange (PSX) Wednesday opened on a positive note and the benchmark KSE-100 index once again crossed 50,000 psychological level to hit 50,265.57 points intra-day high. However, the index failed to sustain the level due to selling pressure
Published 26 Jan, 2017 12:00am
Equities shed gains

Equities shed gains

Pakistan Stock Exchange (PSX) Wednesday opened on a positive note and the benchmark KSE-100 index once again crossed 50,000 psychological level to hit 50,265.57 points intra-day high. However, the index failed to sustain the level due to selling pressure
Published 26 Jan, 2017 12:00am
Money Market Report
Currency

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (January 25, 2017).
Published 26 Jan, 2017 12:00am
Equities shed gains

Equities shed gains

Pakistan Stock Exchange (PSX) Wednesday opened on a positive note and the benchmark KSE-100 index once again crossed 50,000 psychological level to hit 50,265.57 points intra-day high. However, the index failed to sustain the level due to selling pressure
Published 26 Jan, 2017 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (January 25, 2017).

Published 26 Jan, 2017 12:00am
BRIndex30 falls 194.66 points

BRIndex30 falls 194.66 points

On Wednesday, BRIndex30 opened at 28,439.11 points. It touched an intraday high of 28,632.09 points and an intraday low of 28,208.11 points and closed at 28,244.45 points which was -194.66 points or -0.68 percent lower than previous close. Total volume wa
Published 26 Jan, 2017 12:00am
BRIndex30 falls 194.66 points

BRIndex30 falls 194.66 points

On Wednesday, BRIndex30 opened at 28,439.11 points. It touched an intraday high of 28,632.09 points and an intraday low of 28,208.11 points and closed at 28,244.45 points which was -194.66 points or -0.68 percent lower than previous close. Total volume wa
Published 26 Jan, 2017 12:00am
Distribution details of Mian Sharif's property sought

Distribution details of Mian Sharif's property sought

The Supreme Court on Wednesday sought details pertaining to distribution of property of the late Mian Muhammad Sharif to his heirs and the transcript of Maryam Nawaz's interview to a private television in 2012 in which she had denied the ownership of the
Published 26 Jan, 2017 12:00am
Distribution details of Mian Sharif's property sought

Distribution details of Mian Sharif's property sought

The Supreme Court on Wednesday sought details pertaining to distribution of property of the late Mian Muhammad Sharif to his heirs and the transcript of Maryam Nawaz's interview to a private television in 2012 in which she had denied the ownership of the
Published 26 Jan, 2017 12:00am
Rise in populism risks worsening corruption: watchdog

Rise in populism risks worsening corruption: watchdog

The rise of populist politicians around the world risks undermining the fight against corruption, an anti-graft watchdog said Wednesday, warning that it feared a backslide in the US under new President Donald Trump. "Populism is the wrong medicine," Trans
Published 26 Jan, 2017 12:00am
Rise in populism risks worsening corruption: watchdog

Rise in populism risks worsening corruption: watchdog

The rise of populist politicians around the world risks undermining the fight against corruption, an anti-graft watchdog said Wednesday, warning that it feared a backslide in the US under new President Donald Trump. "Populism is the wrong medicine," Trans
Published 26 Jan, 2017 12:00am
Trump's reckless peace plan

Trump's reckless peace plan

Holding good on his campaign promises in the very first week of his presidency, Donald Trump has issued a clutch of executive orders involving controversial issues, including building of the wall on the Mexican border and the Keystone and Dakota Access oi
Published 26 Jan, 2017 12:00am
Minister's indiscretion

Minister's indiscretion

Punjab Law Minister Rana Sanaullah has a penchant for landing himself and his government in controversy. True to his track record, he has set off another furore because of comments on the judiciary, establishment, and Pakistan Tehreek-e-Insaf (PTI) chief
Published 26 Jan, 2017 12:00am
Foreign borrowing

Foreign borrowing

According to data released by the Economic Affairs Division (EAD), Pakistan received $4.1 billion from external sources during the first half of the current year - 51 percent of the total amount budgeted - in comparison to the $4.15 billion received in th
Published 26 Jan, 2017 12:00am
Customs values of latex rubber threads of various counts revised

Customs values of latex rubber threads of various counts revised

Directorate General Customs Valuation (DGCV) on Wednesday revised the customs values of Latex Rubber Threads of various counts. According to the revised valuation, the Directorate has conducted an exercise to re-examine the values of Latex Rubber Threads
Published 26 Jan, 2017 12:00am
Customs values of latex rubber threads of various counts revised

Customs values of latex rubber threads of various counts revised

Directorate General Customs Valuation (DGCV) on Wednesday revised the customs values of Latex Rubber Threads of various counts. According to the revised valuation, the Directorate has conducted an exercise to re-examine the values of Latex Rubber Threads
Published 26 Jan, 2017 12:00am
901 cases of tax evasion, frauds involving Rs 53 billion detected

901 cases of tax evasion, frauds involving Rs 53 billion detected

Directorate General of Intelligence and Investigation Inland Revenue (IR), Federal Board of Revenue (FBR) has detected 901 mega cases of tax evasion, concealment/tax frauds and cases of high net individuals involving Rs 53 billion during January-December
Published 26 Jan, 2017 12:00am
901 cases of tax evasion, frauds involving Rs 53 billion detected

901 cases of tax evasion, frauds involving Rs 53 billion detected

Directorate General of Intelligence and Investigation Inland Revenue (IR), Federal Board of Revenue (FBR) has detected 901 mega cases of tax evasion, concealment/tax frauds and cases of high net individuals involving Rs 53 billion during January-December
Published 26 Jan, 2017 12:00am
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