Latest news with #ShahbazSharif
Business Recorder
2 days ago
- Business
- Business Recorder
Old car importers: Anti-Benami zone of FBR initiates big crackdown
KARACHI: The anti-Benami zone of Federal Board of Revenue (FBR) has kicked off massive crackdown against the billions of rupees Benami transactions carried out by old/used car importers during past seven years. According to the official document, which was exclusively available to the Daily Business Recorder, the anti-Benami zone has launched a comprehensive crackdown targeting the systematic abuse of the Vehicle Baggage and Gifts Scheme (VB&GS), which was designed for legitimate personal imports but has been extensively exploited by commercial importers through clearing agents with the alleged support of customs officials. The enforcement action is focusing on vehicle clearances conducted between February 2018 and May 2025, giving clearing agents just seven days to provide detailed explanations for thousands of vehicle imports processed under the personal baggage scheme. The notices have specifically accused clearing agents of concealing the true beneficial ownership of imported vehicles while systematically evading billions in taxes and duties during the seven-year period under investigation. The anti-Benami zone has demanded comprehensive documentation from clearing agents, including complete import records, customs declarations, detailed particulars of end users and true owners with names, national identity card numbers and addresses, information on all parties involved in transactions, copies of agreements and contracts, bank statements covering the entire seven-year period, and detailed explanations of how commercial vehicles qualified for the personal baggage and gifts scheme and warned to initiate criminal proceedings under multiple sections of the Benami Transactions (Prohibition) Act 2017 in case of non-compliance, showing the determination to hold all responsible accountable for this systematic exploitation of these schemes. Arshad Khurshid, Chairman of the All Pakistan Customs Clearing Agents Association, confirmed that the anti-Benami zone has issued notices to the association members involved in vehicles clearance. He said that the association has instructed its members to provide maximum cooperation with the investigation and furnish all requested clearance records to the authorities. Meanwhile sources informed that the crackdown was initiated following direct instructions from Prime Minister Shahbaz Sharif, who ordered comprehensive action to stop the exploitation of overseas Pakistani passports for misusing personal baggage, transfer of residence, and gift schemes in the import of old/ used vehicles. The Prime Minister's directive is now reflecting zero-tolerance approach against the systematic abuse of schemes, which although intended to facilitate overseas Pakistanis for their legitimate personal imports, being misused for years. The government had previously attempted to address the issue by introducing additional legal requirements in the Import Policy Order, 2022, implemented in 2019 for old/used vehicle imports under these schemes. These regulations mandated that all duties and taxes for vehicles imported under transfer of residence, personal baggage, or gift schemes must be paid using foreign exchange arranged by Pakistani nationals themselves or local recipients, supported by bank encashment certificates showing conversion of foreign remittance to local currency. It also restricted that remittances for duty and tax payments must originate from the account of the Pakistani national sending the vehicle from abroad, and must be received either in the sender's account or, if that account is non-existent or inoperative, in a family member's account. To ensure compliance, the government made submission of Proceed Realization Certificates mandatory, including details of remitting banks, remitter names, beneficiary information, account numbers, certificate amounts, and beneficiary banks verified by head offices. However, customs authorities have found a new pattern of fraud where unscrupulous elements involved in vehicle clearance have been submitting fake Proceed Realization Certificates in collusion with various private banks. These fraudulent certificates were being verified by the banks themselves, enabling the illegal clearance of vehicles, sources said, suggesting that the ongoing crackdown may not have lasting impact without comprehensive policy reform. They said that the government collected over Rs. 100 billion through old/used vehicle imports but didn't promulgate any policy for commercial imports, urging the government to introduce a commercial import policy to completely eliminate such illicit activities. Copyright Business Recorder, 2025
Business Recorder
24-07-2025
- Business
- Business Recorder
Privatisation of SOEs: PC to be given full legal autonomy: PM
ISLAMABAD: In a bid to accelerate the privatisation of loss-making state-owned enterprises (SOEs), Prime Minister Shahbaz Sharif pledged on Wednesday that the Privatization Commission would be granted full legal autonomy in an effort to eliminate bureaucratic red tape and extraneous interference in the country's privatisation process. The prime minister, while chairing a review meeting on progress of privatisation of SOEs, emphasised that reviving the country's ailing economy depends on the timely and transparent divestment of underperforming public sector entities. He described privatisation as a top priority for his administration, saying it must be handled 'effectively, comprehensively and efficiently.' SOE Act and MoF reporting: CCoSOEs grants SPD entities full exemptions 'Illegal occupation of valuable lands of national institutions is unacceptable under any circumstances,' he said, while urging caution in the disposal of such land. 'Every possible precaution should be taken.' The meeting focused on reviewing the progress of institutions slated for privatisation in 2024, including high-profile entities such as Pakistan International Airlines (PIA) and several power transmission companies, commonly referred to as Discos. PM Sharif directed that the Commission's efforts align with market conditions and adhere strictly to legal and transparency requirements. 'All decisions should be implemented fully and effectively,' he said. 'I will regularly monitor the progress of the ongoing work in the Privatization Commission.' The Privatization Commission officials briefed the prime minister on a phased strategy for privatising state enterprises, structured around legal, financial, and sector-specific factors. They noted that the plan, approved by the federal cabinet, is designed to meet both economic and institutional benchmarks within a fixed timeframe. The prime minister also underscored the importance of consulting professional experts and maintaining international standards throughout the privatisation and restructuring process. The push to privatise loss-making enterprises comes amid mounting fiscal pressures, with the government seeking to reduce its financial burden and attract private investment into sectors long plagued by inefficiencies and mismanagement. The meeting was attended by federal ministers Awais Leghari and Ahad Cheema, Chairman of the Privatization Commission Muhammad Ali, along with senior government officials and advisers. Copyright Business Recorder, 2025
Gulf Today
16-07-2025
- Business
- Gulf Today
Britain lifts ban on Pakistani airlines following safety improvements
Britain has lifted a years-long ban on Pakistani airlines following improvements in the country's aviation safety standards, the British diplomatic mission in Islamabad said on Wednesday. The UK's Air Safety Committee imposed the ban after Pakistan's aviation minister in June 2020 disclosed that nearly one-third of the country's pilots had cheated on their licensing exams. The claim came after a Pakistan International Airlines (PIA) crash killed 97 people on May 24, 2020, in the southern city of Karachi. The disaster was attributed to human error by the pilots and air traffic control, and was followed by allegations that nearly a third of the licences for its pilots were fake or dubious. Wednesday's announcement follows a broader international recognition of Pakistan's efforts to improve air safety. Pakistan Prime Minister Shahbaz Sharif welcomed the lifting of the ban as "an important milestone for the country." "The lifting of the ban on Pakistani flights by the UK is a source of relief for Pakistanis residing in Britain," he added in a statement. PIA said it would resume services to Britain in "the shortest possible time" with the first flights operating from Islamabad to Manchester. Pakistan's Defence and Aviation Minister Khawaja Mohammad Asif also welcomed the decision. Speaking at a televised news conference on Wednesday, he attributed the ban to what he described as "baseless' remarks made by former aviation minister Ghulam Sarwar Khan. He said Sarwar Khan's claim tarnished the country's image and triggered significant financial losses for Pakistan International Airlines. Khawaja Asif acknowledged the ban had caused losses. "Confidence is being restored in Pakistani airlines once again," he said at a news conference in Islamabad. Earlier this year, the European Union Aviation Safety Agency also lifted its five-year-long ban, allowing the national flag carrier Pakistan International Airlines to resume direct flights to Europe. British High Commissioner Jane Marriott said that after "extensive engagement' between the UK's Air Safety Committee and the Pakistan Civil Aviation Authority, restrictions on Pakistani airlines have now been lifted. UK diplomatic missions in Commonwealth countries are known as high commissions and are equivalent to embassies. However, Marriott said individual airlines will still need to apply for operating permits from the U.K. Civil Aviation Authority. "I'm grateful to aviation experts in both the UK and Pakistan for their collaborative work to meet international safety standards,' she said. "While it will take time for flights to resume, once the logistics are in place, I look forward to using a Pakistani carrier when visiting family and friends." The high commission emphasised that decisions on delisting countries or carriers from the U.K. Air Safety List are made through an independent safety process overseen by the Air Safety Committee. With more than 1.6 million people of Pakistani heritage living in the UK, and thousands of British nationals residing in Pakistan, it said the move will help families to reconnect and potentially boost bilateral trade ties.
Gulf Today
04-07-2025
- Politics
- Gulf Today
Troops kill 30 militants attempting to sneak into Pakistan from Afghanistan
Pakistani security forces killed 30 militants who attempted to enter the country from Afghanistan, the military said on Friday. The militants belonged to the Pakistan Taliban or its affiliated groups, the military said in a statement accusing archfoe India of backing them. "The security forces demonstrated exceptional professionalism, vigilance preparedness, and prevented a potential catastrophe," it said. "A large quantity of weapons, ammunition and explosives was also recovered," the statement added. It said the members of the Pakistani Taliban were spotted overnight in the North Waziristan district in Khyber Pakhtunkhwa province and the troops seized weapons, ammunition and explosives from the militants. The military's statement did not mention if there was a gunfight or other details of the operation. The military alleged the militants were backed by India and asked the Afghan government to prevent the use of its territory by "foreign proxies' to attack Pakistan. There was no immediate comment from New Delhi. Pakistani authorities often accuse India of backing outlawed groups like the Baloch Liberation Army and Pakistani Taliban who commit violence in Pakistan. Such accusations have increased since a shooting in Jammu and Kashmir in April heightened tensions between the nuclear-armed nations. President Asif Ali Zardari and Prime Minister Shahbaz Sharif praised security forces for the successful operation. Shahbaz lauded the security forces for "thwarting an infiltration attempt." "We are determined to completely eliminate all forms of terrorism from the country," his office said. The prime minister's statement also accused New Delhi of fomenting militancy in Pakistan. Pakistani troops killed 54 insurgents in the same area in April. miAgencies
India.com
03-07-2025
- Politics
- India.com
'When Brahmos fell on Noor Khan Airbase, we had only...': Shehbaz Shariff's advisor makes shocking revelation of how scared Pakistan was
'When Brahmos fell on Noor Khan Airbase, we had only...': Shehbaz Shariff's advisor makes shocking revelation of how scared Pakistan was Pakistan Prime Minister Shahbaz Sharif's advisor has for the first time revealed details about the night when India fired the Brahmos missile during Operation Sindoor. India attacked Pakistan's Noor Khan airbase with the Brahmos missile, which is just a few kilometers away from the Pakistani Army headquarters in Rawalpindi. The attack on Noor Khan airbase shook Pakistan and became a turning point in this war. What Shehbaz Shariff said? Rana Sanaullah Khan, special advisor to Pakistan Prime Minister Shahbaz Sharif, revealed that when India attacked Noor Khan airbase with the Brahmos missile, Pakistan had only 30 seconds to decide whether it was a sign of a nuclear attack or not. Rana Sanaullah, while talking to Pakistani journalist Hamid Mir, who is an expert in spreading propaganda, said that 'When India attacked with Brahmos missile and it fell on Noor Khan airbase, then Pakistan's leadership had only 30-40 seconds to find out whether the incoming Brahmos missile had an atomic bomb or not. And in those 30 seconds, deciding that it was not there and deciding that it was (atomic bomb)… you can understand how dangerous it was.' He also mentioned, '….after the attack, it was President Donald Trump who intervened and we thanked him.' India attacked Noorkhan airbase with Brahmos Noor Khan Airbase is located just 10 kilometers away from Pakistan's capital Islamabad and is a very sensitive and strategic location for the Pakistan Air Force. It is not only used for VVIP movements and military transport, but Pakistan's air-tankers and squadrons are also deployed here. Also, this airbase is located very close to Pakistan's nuclear command, that is, this airbase is just a few kilometers away from the headquarters of the Strategic Plans Division (SPD) and Pakistan's nuclear command center is also located a little distance from here.
