July 15, 2008	Tuesday	Rajab 11, 1429

KARACHI, July 14: The directorate of Customs Intelligence (CI) on Monday seized two consignments imported by some Islambad-based firms.

A statement issued by the CBR’s Directorate of Intelligence and Investigation said that the action was taken on the information that the importers had been providing wrong value of the goods they had been importing for some time. Their act was causing heavy losses to the national exchequer on account of duties and taxes.

Two consignments were intercepted at the Karachi port while they were ready for clearance. Following investigation, it transpired that Rs4 million duties and taxes were evaded through the wrong information about the goods. The consignments were seized under the Customs Act 1969.—Staff Reporter