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Custom duties are levied according to the rates given in the First Schedule, which includes: Goods imported to Pakistan; Goods purchased in bond from one custom station to another; Goods brought from a foreign country to any customs station that are trans-shipped or transported without the payment of duty to another customs station.
The origin of an organized Customs Department in the sub-continent can be traced to 1878 when maritime Customs operations were sought to be institutionalized by Her Majesty's Crown under the Sea Customs Act. Pakistan Customs checkpost at Sust village, Gojal. In 1901, Karachi was declared as the chief port of Sindh. In the following year, a plan ...
One of the major goals was to reduce customs duties of all traded goods to zero by 2016. SAFTA required the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 percent in the first phase of the two-year period ending in 2007. In the final five-year phase ending in 2012, the 20-percent duty was ...
The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June 2023 after Finance Minister Ishaq Dar introduced new taxation measures and expenditure cuts.
In August 2007, Pakistan started exporting cement to India to fill in the shortage there caused by the building boom. [8] Russia is a growing market for Pakistani exporters. In 2009/2010 the export target of Pakistan was US$20 billion. [9] As of April 2015, Pakistan's exports stand at US$29 billion.
The Port of Sonmiani, in Las Bela District, currently consists of a fish harbour at the town of Damb, about 4 km (2.5 mi) northwest of Sonmiani as well as a coast guard jetty for the Pakistan Maritime Security Agency, a kilometre to the north of the fish harbour. In March 2007 the federal government announced a proposal to build a major new ...
The Pakistan Single Window (PSW) stands as a prominent undertaking spearheaded by Pakistan Customs.Its overarching objective is to diminish the time and expenses associated with conducting business by transitioning Pakistan's cross-border trade into a digital realm, thereby eliminating the need for paper-based manual procedures.
They described how Pakistan was utilising only 5% of tariff concessions available to them, whereas China was using 57% of their available tariff concessions. [26] Business groups conveyed further criticism about China granting greater tariff concessions to other countries and regions, for example, ASEAN countries within the ASEAN–China Free ...