Customs warns kict management
Pakistan Customs has warned the management of Karachi International Container Terminal (KICT) of possible contempt of court proceedings and legal action over escalating operational disruptions that are delaying customs clearance, hampering trade activity, and affecting overall port performance.
In a letter issued by the Customs Appraisement West Collectorate to the KICT CEO, officials said operational bottlenecks at the terminal had intensified despite repeated written notices and daily verbal and telephonic coordination. Customs authorities reported persistent delays in container grounding, examination processes, and freight clearance over the past several months.
Officials stated that consignment examination largely depends on terminal operator efficiency, including timely grounding of containers, seal removal, and cargo availability. Administrative shortcomings at the terminal have increased cargo dwell time and caused congestion at the port. Customs data shows a continuous grounding backlog at KICT since December 2025.
During July-December 2025, import cargo volumes rose 13.54 percent year-on-year, while consignment examinations increased by 31.25 percent. However, the terminal failed to proportionately expand operational capacity, storage space, trained manpower, and cargo handling equipment, according to the letter.
Pakistan, Jordan move toward preferential trade agreement
Pakistan and Jordan have agreed to pursue a preferential trade agreement (PTA) and widen cooperation across 16 priority sectors, as the two countries sought to convert long-standing diplomatic ties into tangible economic outcomes during a joint ministerial meeting held in Islamabad this week.
The understanding was reached at the 10th session of the Pakistan-Jordan Joint Ministerial Commission, held on February 4-5, co-chaired by Minister for Commerce Jam Kamal Khan and Jordan’s Minister of Industry, Trade and Supply Yarub Qudah, according to an official statement issued on Thursday.
The meeting marked a renewed push to operationalise cooperation under the Joint Ministerial Commission framework that was established in 1975 but has remained underutilised in recent years.
A key outcome of the session was the agreement to initiate consultations on a preferential trade agreement aimed at improving market access and reducing trade barriers between the two countries. The proposed framework is expected to focus on facilitating trade flows and encouraging private sector participation.
Salaried class paid Pkr 315billion in Jul-Jan
Income tax contributions by Pakistan’s cornered salaried class further jumped by 10 percent to Rs315 billion during the first seven months of this fiscal year, as one out of every three Pakistanis who left the country last year in search of jobs and better salaries were skilled to highly qualified people.
According to provisional data compiled by the Federal Board of Revenue (FBR), salaried individuals paid Rs315 billion in income tax during the July-January period of the current fiscal year. This was Rs30 billion, or 10.5 percent, more than the already higher base of Rs285 billion recorded in the same period of the last fiscal year.
Tax contributions by salaried persons in both the public and private sectors remained more than double the taxes paid by the real estate sector during the same period, according to provisional figures.
Kazakh company plans $20m gold mining in G-B
Kazakh company has expressed its intention to invest $20 million in placer gold mining projects in Gilgit-Baltistan (G-B), as discussions were held with the Board of Investment (BoI) on opportunities in Pakistan’s mining sector, particularly in the northern region.
According to an official statement issued on Thursday, Federal Minister for the Board of Investment Qaiser Ahmed Sheikh held a meeting with a delegation of Elaman Group from the Republic of Kazakhstan to discuss potential investment in placer gold mining in G-B.
During the meeting, the delegation informed the minister that Elaman Group planned to immediately invest $20 million in placer gold mining projects in the region, with prospects of further investment in subsequent phases. The group said it had already conducted preliminary studies of G-B and identified strong potential for placer gold exploration and development.
PSO’s Pkr 30 billion receivables remain stuck at PIA
State-run oil marketing company Pakistan State Oil (PSO) is facing a financial setback as receivables of around Rs30 billion remain stuck at Pakistan International Airlines (PIA) after the air carrier failed to transfer its real estate asset to settle the outstanding dues.
The government had declared a consortium, led by the Arif Habib Group, the winner in the bidding process for the acquisition of a 75 percent stake in PIA. The group submitted the highest bid of Rs135 billion but the real value at which PIA was sold was Rs10 billion because the bidder would be required to invest Rs125 billion in the airline.
PSO had approached the government, asking it to hand over the real estate asset of PIA in Islamabad to settle the receivables on account of jet fuel supply to the airline.
As receivables reached Rs30 billion, discussions were held between PSO and PIA on transferring the national carrier’s land to PSO to clear the dues. Despite the completion of the privatisation transaction, the piece of land has not been handed over.
Pakistan takes over DCO presidency
Pakistan has formally assumed the presidency of the Digital Cooperation Organisation (DCO). Federal Minister for Information Technology and Telecommunications Shaza Fatima Khawaja, after taking over the role, said that Pakistan would promote joint global efforts in the areas of digital cooperation, cybersecurity, digital inclusion and artificial intelligence.
A ceremony was held in Kuwait during the fifth General Assembly of the DCO, which was attended by senior officials from 16 member countries. According to a statement issued by the Ministry of IT on Thursday, the DCO was established to strengthen cooperation among member states for the promotion of the digital economy, digital infrastructure and data governance.