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pAkiSTAN’S FirST iNDepTH NewSpAper oN CuSTomS

Daily

Vol 1 Issue No. 179

Karachi, Fri September 11, 2015

KARACHI

AFTAB CHANNA

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ederal Board of Revenue (FBR) Pinally assigned Rs 817.08 billion revenue collection target to Pakistan Customs – Model Customs Collectorates – for the ongoing Piscal year i.e. 201516. According to documents available with Customs Today, the FBR

Price Rs. 14.00

tasked the MCC Appraisement West with Rs 251,356.21 million as revenue collection for the FY 2015-16 under the heads of customs duty, sales tax, federal excise duty and the withholding tax.

While, MCC Appraisement East targeted with Rs 249,898.37 million taxes/duties, the documents say.

Moreover, the MCC Port Muhammad Bin Qasim has been assigned the target of revenue collection at Rs 315,826.17 million.

Customs detains Chinese engineer for smuggling $50,000 to Urumqi

Customs Court sends 3 clearance agents on physical remand

Car financing reviving auto sales in country

RTO Multan surpasses revenue collection target in August

Sialkot traders upset over delay in payment of sales tax refunds

The Pakistan Customs officials deputed at Benazir Bhutto International Airport | See pAge 02 |

The Special Court of Customs Taxation and Anti-Smuggling has sent | See pAge 03 |

Carmudi’s report on “Car Financing in Pakistan” provides a look into current. | See pAge 04 |

FBR RTO Multan has surpassed the collection target during the second month | See pAge 12 |

The Sialkot based traders, industrialists and exporters expressed grave concern | See pAge 09 |

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LHC halts levy of sales tax on lawyers fees Friday, September 11, 2015

National

LAHORE: The Lahore High Court (LHC) has halted the levy of 16 percent sales tax on of lawyers fees. Justice Mansoor Ali Shah of the LHC heard the case challenging 16 percent sales tax on lawyers fees.

During his remarks, Justice Mansoor Ali Shah said that after the imposition of such tax justice will become more expensive.

In his plea, Lahore Bar Council President Pir Masood Chishti asked the court to declare imposition of this tax as null and void. The court issued separate notices to all concerned departments of the provincial and federal governments.

Customs detains Chinese engineer for smuggling $50,000 to urumqi

Customs Faisalabad seizes indian cumin FAISALABAD

NAeem SHeikH

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he Pakistan Customs ofPicials deputed at Benazir Bhutto International Airport Islamabad have arrested Jiachkoju, a Chinese engineers, working on different projects in Pakistan, who was allegedly trying to smuggle $50,000 to Ürümqi.

As per details, the suspect was going to Ürümqi, a city in China, via China Southern Airlines Plight No. EZ6008 when he was detained by ofPicials of Airport Security Force (ASF) in departure lounge following the recovery of $50,000 from his possession.

Later, ASF handed over the arrestee to Islamabad Customs Deputy Collector Naveed Bagvi for legal action. The deputy collector after initial investigation registered an FIR against him on the charges of currency smuggling.

On the other hand, the Special Court of Customs and Taxation Judge Rana Aftab has sent the accused on two-week judicial remand for further investigation when Chinese engineer was presented before the court. The Chinese engineer has stance that he did not know about the Pakistan’s law which do not allow a passenger to carry currency more than $10,000. When he was asked regarding the use of lawful

ustoms intelligence and investigation seized smuggled Indian cumin and the vehicle which was being used to smuggle the item.. The total weight of the seized cumin is 2,760 kilograms while its market value is Rs 1,000,000/-.

Sources told Customs Today that Additional Director Customs Intelligence and Investigations Faisalabad received information regarding the smuggling of a huge quantity of Indian cumin . After receiving the information, he constituted a raiding team comprising Riaz Hussain (Deputy Director ), Zahid Saleem Mirza, Muhammad Tahir Iqbal( SIO ), Mansoor Nasir, Farzand Ali(IO) Masood Iqbal, Ghulam Ghous, M. Aslam, Musadiq Ahmad, Tajamal Haq (sepoy’s ).

The Customs raiding team intercepted the vehicle bearing registration number. GLT-8772 and asked the driver of the vehicle to produce legal documents regarding the possession of the truck.

But the driver Zaheer Ahmed son of Muhammad Hassan, who is a resident of Kot Gari Habibullah tehsil Balakot, failed to provide documents.

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channels for the transaction of the amount, he could not give any satisfactory answer to customs ofPicials.

However, Pakistan Customs has informed the Embassy of China regarding the arrest of engineer.

Meanwhile, The Model Customs Collectorate Islamabad has collected Rs 189.61 million in the term of customs duty from January to August 2015. According to the details, the collectorate had collected Rs

227.35 million in the column of customs duty during the same corresponding period of the year 2014.

The Pigure shows department observed a decline of 16 percent during the 2015.

LHC issues arrest warrants of suspect in Rs 2m customs duty evasion LAHORE

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ahore High Court (LHC) issued arrest warrant of accused involved in embezzlement of Rs 2.1 million in guise of customs duty who is still at large.

A two-member bench of LHC under the supervision of Justice

Mehmood Maqbool Bajwa heard a case against Abdur Rauf, while the case was lodged by National Accountability Bureau (NAB).

The counsel for NAB argued that Rauf was sentenced by Accountability Court for his involvement in the case and later he moved the LHC which voided the decision. After disposing of the punishment, the accused went underground to avoid the legal proceedings, the advocated added. He further pleaded the court to issue arrest warrant of the ac-

cused on which court issued warrant and directed the Capital City Police OfPicer (CCPO) to ensure the detainment of the absconder.

Meanwhile, Lahore High Court (LHC) issued notices to chairman and director general of the National Accountability Bureau (NAB) to appear before the court on September 14 in Shiekh Afzal case, a suspect of Punjab Bank scandal.

As per details, the two member bench under the supervision of Justice Mahmood Maqbool Bajwa

heard the case where the counsel for Afazal claimed that NAB has not yet determined the amount payable by his client till to date. The advocate further argued that the NAB has recovered huge amount in Punjab Bank scandal and later it arrested his client to recover more amount but NAB remained fail to determine the amount which showed Afzal was not involved in the scandal. The accused also Piled application with NAB for the speciPication of amount payable by him and urged the de-

partment to take the facilities of any accountant Pirm in order to trace the liable amount, advocate argued, adding that NAB did not accept the application. Meanwhile, The Lahore High Court (LHC) has halted the levy of 16 percent sales tax on of lawyers fees. Justice Mansoor Ali Shah of the LHC heard the case challenging 16 percent sales tax on lawyers fees.

During his remarks, Justice Mansoor Ali Shah said that after the imposition of such tax justice will become more expensive.

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Customs Faisalabad seizes ladies cloth FAISALABAD: Customs intelligence and investigation has seized foreign origin ladies cloth near Jhang Road, Faisalabad. The market value of the seized cloth is Rs 1,400,000 Sources told Customs Today that Additional Director Customs Intelligence and Investigations M. Ismail received a credible information regarding smuggling of the said cloth. After receiving intelligence information, he formed a raiding team comprising Riaz Hussain (DD), Muhammad Tahir, Muhammad Saleem( SIO ) and Muhammad Sikander, Ghulam Ghous, M. Aslam (Sepoys ). The Customs team seized the cloth near godown of M/S Super Masood Gandapur Goods Saifabad Chungi, Jhang Road Faisalabad.

Senate body urges govt to refund textile exporters’ rs100 billion ISLAMABAD

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he federal government has been asked to refund Rs100 billion, stuck with Federal Board of Revenue for the last three years to the textile exporters. The demand was raised during a meeting of Senate Standing Committee on Textile Industry, under the chairmanship of Senator Mohsin Aziz. The meeting was attended among others by Senators Zahida Khan, Osman Saifullah Khan, Samina Abid, Hari Ram, Aptma Chairman SM Tanveer and PTEA Chairman Sohail Pasha. The committee was given a detailed briefing by Council of All Pakistan Textile Association Chairman Zubair Motiwala.

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Hyderabad Customs Intelligence impounds smuggled Suzuki Jimny HYDERABAD

ASLAm QurASHi

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he Customs Investigation and Intelligence Hyderabad has impounded a non-duty paid Suzuki Jimny vehicle approximately worth Rs 700,000 during a raid in city. As per details, following the instructions of director Customs Intelligences, a team of intelligence conducted raid in the city and intercepted a vehicle, Suzuki Jimny bearing registration No. BC-1301.

The team asked the driver to show the documents showing the legal import and lawful possession of the vehicle but he could not show documents on which the customs impounded the vehicle under the prevailing customs law.

The team comprising Inspector Irfan Ghani, Sepoys Noshad, Azam Ali, Mohammad Imran, Driver Janib Kuber and other took part in the operation.

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Friday September 11, 2015

National

Customs Court sends 3 clearance agents on physical remand ISLAMABAD

m FAiZAN

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he Special Court of Customs Taxation and AntiSmuggling has sent three suspects involved in clearance of imported consignments through fake goods declarations, gate passes and delivery orders causing loss to national kitty, on two-day physical remand for further interrogation.

Pakistan Customs’ ofPicials deputed at Air Freight Unit (AFU) of Benazir Bhutto International Airport Islamabad have arrested three members of a racket following the complaint lodged by manager AFU (Import) Askri Shed.

The manager claimed that a consignment comprising computer sets imported from Malaysia was not available at shed while its entries were existed in Web Based One Customs (WeBOC).

Therefore, the customs ofPicials kicked off investigations and arrested three employees of Shah Clearing Agency. The arrested persons revealed that a consignment of computers weighing 94 kilogram has been cleared through fake GDs, gate passes and delivery orders paying just Rs 22,000 instead of actual duty/taxes.

They further added that consignment was handed over to importer concerned after clearance. OfPicials told that further investigation was under way, adding that further ar-

rests were expected in upcoming day on the revelations of under arrest persons.

Meanwhile, Collector, Collectorate of Customs Adjudication, Islamabad Muhammad Ali Raza has directed the staff to streamline the pending cases in order to settle them early. According to the details, after assuming the charge of collector here in Customs Adjudication, Islamabad, he directed the staff to organize the cases and issue the

Therefore, the customs officials kicked off investigations and arrested three employees of Shah Clearing Agency.

SHC rejects SAMI Pharmaceuticals’ plea

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he Sindh High Court (SHC) has rejected another petition of a pharmaceutical company against the Pakistan Customs authorities for denying it the benePit under SRO 575(1)2006, reducing customs duty and other taxes on import of machinery.

Justice Sajjad Ali Shah, who headed the division bench, dismissed the petition Piled by SAMI

Pharmaceuticals (Private) Limited.

The petitioner Pirm’s advocate submitted that the company imported Air Handling Units and claimed benePit under SRO 575(1)2006, contending that the imported machinery was not manufactured locally.

However, he said, his plea for the benePit was declined on the ground that the Air Handling Units imported by the petitioner were being manufactured locally.

In response to the petition, the

counsel for Pakistan Customs submitted that earlier the pharmaceutical companies availed such benePit when these units were not manufactured locally. However, they are manufactured now and therefore, the petitioner was not entitled to such benePit. Earlier, the SHC dismissed the petition of M/s Novartis Pharma (Private) Limited through which it sought the benePit under the abovementioned SRO.

hearing dates in pending cases. The collector has also held meeting with the additional and deputy collector adjudication and discussed the matters relating to adjudication. In the meeting, he was briefed on cases being heard by the department and about pending cases. It is important to mention here that Muhammad Ali Raza is a Pakistan Customs Service ofPicer of BS-20 who has assumed the charge of the post of collector on September 1.

47 Customs officers of BS-19 transferred ederal Board of Revenue has transferred/posted 47 Pakistan Customs Service officers of BS-19 with immediate effect. According to the notification, the transferred officers, who are drawing performance allowance, will continue to draw this allowance on the new place of posting.

All the officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR.

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Polythene bag manufacturers reject ban Friday, September 11, 2015

Business

PESHAWAR: The manufacturers of plastic bags have protested against the ban on production and selling of polythene bags by the provincial government.

The Khyber Pakhtunkhwa Plastic Association (KPPA) also took out rally in protest against the decision of provincial government. The rally was started from Ashraf Road and culminated at Press Club where marchers record their protest. Holding placards the participants chanted slogans against the provincial government’s decision and said the closure of plastic bags manufacturing units would serve nothing but render hundreds of workers unemployed.

Volume up by 3%, value by 18%: internet banking users increase by 23% to over 1.8m ISLAMABAD

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he country’s Internet banking users have increased by 23 per cent to 1.8 million in Piscal year 2014- 15, as compared to the previous year.

According to SBP’s payment system review-2014-15, the volume of Internet banking has also increased by 3 per cent and transactions value increased by 18 percent. Approximately 4.5m transactions amount-

TCP urged to offer Rs3,000/40kg support price for cotton

ing to Rs 219.5b were executed through Internet banking, showing an increase of 11 per cent in volume and 10pc in value as compared to 2013-14. With regard to mobile banking during the period, the Review showed that volume of mobile banking transactions showed a slight decline reaching to 6.14 million from 6.16 million. However, the value increased by 59 per cent, reaching Rs107 billion as compared to 2013-14.

During 2014-15, the largest share in mobile banking in terms of volume was of utility bills payment which is 52 per cent while in terms of value, the largest share has been

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he Trading Corporation of Pakistan (TCP) has been urged to offer Rs3,000 per 40kg support price for cotton in the coming season. The demand was raised by Additional Secretary Task Force on Agriculture Ahmed Ali Zafar, while talking to the state-owned news agency. He has said that cotton farmers would get handsome returns in the coming season.

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and Exchange Commission (SECP) has approved the curriculum for foundation course for life and nonlife insurance agents.

According to the notiPication, the SECP also issued minimum infrastructural/training and faculty requirements for recognition of the institutes by the commission.

The course contents consist of basic principles, role of insurance agents, risks and insurance, claims handling and law governing insurance industry. The SECP has approved the Institute of Capital Markets and Pakistan Insurance Institute as recognized institutes and authorized them.

Car financing reviving auto sales in country

MULTAN

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contributed by third party account to account funds transfer, having 53 per cent share. As compared to 2013-14, mobile banking registered users have increased by 36 per cent, reaching to 2.27 million by end of 2014-15. During quarter-4 of 201415, 1.47 million transactions amounting to Rs. 32 billion were executed through Mobile Banking, showing an increase of 14 percent in volume and 16 per cent in value as compared to 2013-14.

As per Review, this data includes conventional banking transactions carried through mobile phones and does not include branch-less banking data. Meanwhile, The Securities

LAHORE

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armudi’s report on “Car Financing in Pakistan” provides a look into current and future state of the Plourishing car Pinancing market and how consumer attitudes towards credit transformed in recent years.

In May 2015, the IMF stated that Pakistan made “signiPicant

progress” by fulPilling targets under its $6.6 billion loan program. The country’s economy is on a high with low crude oil prices and $14 million in remittances from 6 million workers abroad. Following a 4.1% expansion during the last Piscal year, the IMF predicted a 4.5% growth in the economy starting July 1st of this year that was mainly driven by increased domestic demand in car sales and construction of 20% and 5% respectively.

Based on a 2014 study conducted by Nielsen,78% of respondents in Pakistan plan to buy a new

or used car in the next two years.

Results from the report also showed that 89% of Pakistani respondents plan to upgrade their vehicles when they are Pinancially sound. Car sales in Pakistan peaked in FY2012, reaching over 157,000 units, and are beginning to increase once again along with the rise of consumer lending amidst the healing economy. Due to the rapid decline in international oil and commodity prices, auto demand in Pakistan has gone up and has had a trickledown effect on car Pinancing demand in the country.

Bruno olierhoek made mD of Nestlé pakistan LAHORE

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runo Olierhoek has been made Managing Director and CEO of Nestlé Pakistan after the departure of Magdi Batato.

Batato has moved to Nestlé headquarters in Switzerland as the executive vice president in charge of operations for Nestlé worldwide after heading Nestlé Pakistan for three years. Olierhoek comes to Nestlé Pakistan from Cameroon where he was the Country Manager Tropical Cluster for Central and West Africa region. He has worked as an int’l executive at Nestlé for more than 20 years, serving in different Asian, European and African countries. Olierhoek has wide cross-functional experience. He successfully led a business turnaround, established new startups and engaged in global business strategy development. He also focused on improving the safety and health standards in Nestlé’s Central African operations, as a result of which the organization became a founding member of ‘Safe Way, Right Way,’ which promotes road safety. Speaking to the employees of Nestle Pakistan after taking charge, Olierhoek said, “I am looking forward to discovering your beautiful country.

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‘Pharma firms can help BISP beneficiaries avail better health facilities’ KARACHI

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he Benazir Income Support Programme (BISP) beneficiaries will be given better health facilities after collaboration of the pharmaceutical companies.

Minister of State and BISP Chairperson Marvi Memon said this, while speaking at a seminar hosted by Pharmaceutical Association of Pakistan. The purpose of the seminar was to initiate and discuss the necessary ways and means for cooperation between BISP and Pharmaceutical Companies so that better health facilities may be made accessible to BISP beneficiaries.

On the occasion, FPCCI Stand-

ing Committee on Pharma Industry Chairman Zahid Saeed said that 90pc of the medicines are being made by Pakistani Pharmaceutical Companies and hence access to quality medicines is not a problem. The pharma industry may take initiative by offering Quality Branded Medicines (QBM) at affordable rates to BISP beneficiaries. He added that the industry may provide medicines at 25pc to 30pc discounted price to poorest

of the poor BISP beneficiaries.

This public-private partnership will help the poor patients to improve their health.

BISP Chairperson, during the seminar, appreciated the pharma industry for their invaluable contributions and showing generosity to the cause of poor. She stated that the better compliance to this great initiative will bring better health outcome at the national level. This scheme is very instru-

mental in making BISP women healthier and more empowered.

Marvi also said that the increase in BISP budget from Rs 40 billion to Rs 102 billion is due to the belief of Prime Minister Nawaz Sharif and the present government in the efficacy of this programme. She said that the most of the BISP stipend is spent on food items which mean BISP contributes in reducing malnutrition which is the main cause of stunting and low IQ level.

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ederal Board of Revenue (FBR) Member Research, Analysis and Reforms (RA&R) Ali Salman Abbasi has said that market research and new improved policies will increase the tax to GDP ratio, adding that department was working over to bring automation in the system to facilitate the taxpayers.

In an exclusive interview with Customs Today, Abbasi said that research and reforms wing was eminent part of the FBR due its futuristic approach and research. He said that the major role and responsibility of it, was to research and analysis of macroeconomic indicators of the whole gambit of the taxation, policies of FBR and its performance efPiciency.

He also indicated the major role of the wing signifying the coordination between FBR and the rest of donor groups including World Bank, International Monetary Fund (IMF) etc. FBR was working on different projects related to administration and

Friday, September 11, 2015

structure of human resource reforms, he informed. Abbasi identiPied a WB funded project TAGA and hoped its results will accelerate the tax collection process in the country in coming two or three years.

While sharing his views on the lowest tax to GDP ratio in Pakistan, he said that “tax to GDP involves several functions from business environment, mixed economy, internal affairs and national environment to international trends.” Taxation was central to the country and it needed more efforts to bring betterment in tax policies, member said, adding that incumbent government was working in the best interest of the taxpayers. The FBR was making efforts to make the tax forms simpler to facilitate the taxpayers; Abbasi revealed and also added “tax return forms are simpler than the forms issued 15 years back to taxpayers.”

He said as per the demand of the business community, the tax forms were being prepared in Urdu language, adding that this project required a huge investment to be realised. He further said that the interest of the taxpayers was foremost, adding that taxpayers and tax administration should have best liaison between them in order to

tackle the issues faced by both sides due the lack of conPidence.

He said that FBR did not sponsor any organization or offer any fellowship to rest of the world in the Pield of research and revenue collection but indeed, lots of national and international funds were available in this regard and FBR facilitated its own ofPicer to get training nationally and internationally.

He said referring to the problems encountered by a member, Plow of work was usual and there were not any huge problems faced by member as issues were sorted out on daily basis.

Responding to a query, he said that RA&R wing has been divided in two groups namely Tax Policy Analysis Unit and Market Monitoring and Intervention Unit, following their nature of work.

Under the cover of Tax Policy Analysis Unit, “we deal research, analysis of macroeconomic indicators their trends, implications, analysis of collection of direct and indirect taxes, tax expenditure, compliance cost on the mechanism of taxes and also conduct research for new taxation measures”, he said.

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Founder & Chairman Zulfiqar Ali Editor rahil Yasin editor@customsbulletin.com.pk For advertising & subscription marketing@customsbulletin.com.pk www.customsbulletin.com Phones: 042-35781643-4, Fax: 042-35781645 Address: 627, Siddiq Trade Centre, Gulberg, Lahore

eDiToriAL

$6 billion ADB loan

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he Asian Development Bank has approved a five-year $6 billion loan to support development projects in Pakistan, including energy and transportation sectors amid reports in the international media that the nation’s public debts have touched $163 billion mark. The latest package will provide the government an average $1.2 billion annually until the end of fiscal year 2019 to develop infrastructure and introduce institutional reforms. At least two-third of the loan is attached with commercial modules and the remaining third will be concessionary.

The ADB has allocated just $15 million under the head of technical assistance for Diamer-Bhasha Dam out of the proposed funding of $14 billion.

The donor agencies are in the habit of attaching strings to the loan agreements, following which the ADP requires the government to introduce energy sector reforms and maintain public finances to qualify itself for the disbursements. Despite the approval of loan, the bank has expressed dissatisfaction over the capacity of the government to devise a mechanism to handle growing corruption, irregularities in the procurement process, bureaucratic rigmaroles, lack of internal control and professional ability to implement reforms. The financial package will also assist the government in achieving various targets, covering from energy, transportation, agriculture, natural resources, rural development and water sectors development to urban infrastructure and public sector programs. However, the lion share of the assistance will be spent on the improvement of infrastructure, power, transport, agriculture and urban services sectors. The country’s electricity distribution and transmission network is in a shambles and over $2 billion are earmarked to ensure reduction in line losses, electricity theft and maintain financial viability in the energy sector.

At least $1.7 billion will be spent to improve transportation infrastructure, including the road network and building mass transit systems in Peshawar and Karachi while $500 million has also been allocated for public sector management and restructuring of lossmaking organisations. The bank has also planned to lend $1.3 billion, including $400 million in budgetary support for the energy sector, $200 million for post-flood highways rehabilitation, $170 million for the construction of GojraShorkot highway and $150 million for improving border services. As the country’s total public debt has reached $163 billion, the government will have to check the loopholes within the management and administrative cadre to save the precious money from leakage. As the ADP chief has pointed out, the country has failed to achieve millennium development goal as poverty has increased instead of decreasing. There is a need to put the country back on track as several government departments need to be purged of corrupt elements and writ of the government must be ensured not only on defence and security, but also in the financial sectors.

Need to protect textile industry LAHORE

Dr AFTAB AFZAL

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he textile products are the main source of foreign exchange earnings, but rising cost of production, energy crisis and lack of interest of the government to boost this sector have made it difficult for the country to compete in the international market. As a result, exports of textile products are declining despite achieving GSP plus status from the European Union.

Exports of garments and other household commodities are on the rise in Bangladesh and India is

emerging as the biggest challenge not only for Pakistan but also for China because of its business friendly policies, but one crisis ends another crisis starts in Pakistan, leading to the capital flight.

Prime Minister Nawaz Sharif is a busy person, but he has to spare time to listen to the businessmen associated with textile industry.

Finance Minister Ishaq Dar, who is close associate of the prime minister, should also come forward to listen to the problems of the textile industry and exporters.

According to media reports, the current textile exports from India have reached $41 billion mark and it is expected to become double in five years. The current volume of Pakistani textile exports is $13.3 billion and it is difficult to increase

25 percent by 2020 if the current energy crisis continue to persist.

The foreign investment in textile sector is not promising despite the fact that Chinese and several European countries are willing to set textile units in Pakistan. The annual growth of textile exports is recorded at mere two percent against India’s whopping 14 percent which is like to record further increase in the coming years.

Experts believe that the prime minister should immediately take notice of the situation before it is too late as declining trend has to be arrested. There is a need to rationalize taxes and tariffs as well as utility bills and an action plan is required to revitalize this sector.

It is unfortunate that the present government, after two and

half years in the office, has failed to complete any mega electricity project in the country. The government has already wasted $8100 million in Nandipur power project and it is still inoperative.

Billions of rupees are wasted away on non-projective sectors and it seems the government is only trying to complete its tenure without taking any growth oriented step. The industrialists as well as common citizens are made to pay heavy utility bills and the government seems to have no interest in the development of the country. The time has come the prime minister should immediately call a meeting of the textile manufacturers and exporters to save the industry from further damage.

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Pakwheels to hold auto show in Islamabad on Sept 13 KARACHI: The web portal www.Pakwheels.com will be holding an auto show at the 2F2F Karting Track in the Lake View Park, Islamabad on September 13, 2015.

This will be the fourth event in the series of Pakistan’s largest auto shows organized

by PakWheels.com, country’s largest online marketplace for cars.

The auto show will feature more than 500 latest cars, international auto brands and motorcycles, and is expected to attract over 100,000 visitors. Suneel Sarfaraz Munj, chairman PakWheels.com, says, “by holding auto shows in all the major cities on a regular basis, PakWheels.com aims to promote a unique ‘car culture’ in the county to entertain and educate people about the cars.

iCCi honors Special olympics squad for winning 35 medals slamabad Chamber of Commerce and Industry organized a ceremony in honor of Pakistan’s Special Olympics squad that won 35 medals in Special Olympics 2015 concluded recently in Loss Angeles, USA. Mehfooz Elahi, Head of Pakistan’s Special Olympics squad and former President ICCI, Arshad Javed, National Director Sports, Special Olympics, Saeed Ahmed Bhatti coach special Basketball team and a large number of special players and their parents attended the ceremony.

Speaking on the occasion, Muzzamil Hussain Sabri, president, Islamabad Chamber of Commerce and Industry said that in these circumstances, winning 35 medals for the country was a great achievement of Pakistan’s Special Olympics squad and added that the whole nation was proud of their performance.

He urged that government should pay special attention to these players, provide them financial patronage, arrange more grounds for them and consider allocating special quota in jobs for them.

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Dar reviews progress of agri loans disbursement ederal Finance Minister Ishaq Dar has reviewed the progress and process of agricultural loans disbursement among the farmers and asked the banks to simplify the procedure in this regard. The minister was chairing a high-level meeting, in which Secretary Finance Dr Waqar Masood Khan briefed Dar and other participants on the procedures and criteria currently adopted for grant of agricultural credit and shared related figures. State Bank Governor Ashraf Mehmood Wathra gave input on the role of banking sector.

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Sialkot traders upset over delay in payment of sales tax refunds SIALKOT

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he Sialkot based traders, industrialists and exporters expressed grave concern over the inordinate delay in the payment of sales tax refund and duty drawback claims, and said that the delay was halting the flow of capital in the industries.

They said that delay has been leaving very bad effects on the industrial production.

They added that the business community’s customs rebate funds, sales tax refund and duty drawback claims worth Rs 5 billion had been lying pending with Customs Collectorate Sialkot and at Regional Tax Office Sialkot due to which the local traders, industrialists and exporters had been suffering the shortage investment capital. Addressing an important meeting held at SCCI Auditorium , the president Sialkot Chamber of Commerce and Industry (SCCI) Fazal Jillani said that the exporters had been playing an instrumental role in strengthening

and boosting the national exports and economy by earning precious foreign exchange.

SCCI SVP Mir Alamgir Meyer, VP Malik Naseer Ahmed and chairman Pakistan Gloves Manufacturers and Exporters Association (PGMEA) Muhammad Younas were also present on this occasion.SCCI president added that they were in dire need of encour-

agement and patronization by the government, adding that the Trade Development Authority of Pakistan (TDAP) should help and encourage the Sialkot exporters at every level. He urged the TDAP to enable them to enhance the national exports by ensuring easy access of the exporters to the international trade markets.

SCCI president demanded early

pCgA demands govt to resolve issues of textile sector MULTAN

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he Pakistan Cotton Ginners Association (PCGA) has urged the government to address the issues of the people attached to the textile sector.

The Pakistan Cotton Ginners Association warned ginners not to purchase excessive seed-cotton from the farmers in the start of season and run their business

carefully otherwise they would face financial losses. Pakistan Cotton Ginners Association chairman Hafeez Anwar said textile millers and spinners were purchasing cotton according to their needs and not for stock purpose.

He said the government should protect the interests of farmers, spinners and weavers.

He blamed certain elements for exploiting farmers, saying that support price fixed by the government would help the farmers in ensuring fair return of their produce otherwise farmers would be forced to resort to al-

ternate crops instead of cotton.

Pakistan Cotton Ginners Association chairman Hafeez Anwar said the APTMA was the sole buyer of cotton in the country and they had developed a lobby to purchase cotton on cheapest price and demanded the government to announce support price of seed-cotton and introduce Trading Corporation of Pakistan (TCP) as third buyer to stabilize the prices in the market.He stressed on the government to save the farmers from financial losses, impose ban on the shifting of sugar mills to Southern Punjab.

release of a special grant of Rs 14 million from Export Development Fund (EDF) for the continuity of the internationally recognized child labour elimination programme from Sialkot’s soccer ball industry and its regular monitoring under the joint supervision of IMAC, SCCI and CSDO. Fazal Jillani narrated that Sialkot’s export industries had been lying deprived of the direly needed funds from Export Development Fund (EDF) for the last several years.

These funds could help boost local industrial activities and exports from Sialkot, he added.

He said that the Sialkot exporters urged the TDAP to evolve an effective mechanism for the “proper” use of the Export Development Fund (EDF) which is meant for the promotion and development of the country’s export sector.SCCI chief said that the Sialkot exporters deposit Rs450 million annually as EDF. Thus, they also deserve incentives for the promotion and enhancement of exports. They pointed out that Sialkot’s export industries were being ignored regarding distribution of EDF due to lack of a mechanism.

Lucky Cement earns over rs12 billion he, Lucky Cement Limited has posted Rs12 billion in fiscal year 2014-15 with the 19% market share. According to a notice sent to the Karachi Stock Exchange (KSE), the country’s largest cement-maker reported an after-tax profit of Rs12.43 billion or Rs38.4 per share for the year ended June 30, 2015, up 9.6% compared to Rs11.3 billion or Rs35.08 per share last year. The results were accompanied by a dividend of Rs9 per share for the year. Following the result, the company’s stock appreciated by Rs17.20 or 3.4% to settle at Rs525.36 per share at the close of business on Wednesday with 527,100 shares.

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Indian currency depreciates in competing Bangladesh, china currencies Friday September 11, 2015

World

NEW DELHI: Indian apparel exporters are likely to reap benefits of depreciating rupee against the dollar.

Rupee has declined more than currencies of competing countries such as China, Vietnam and Bangladesh.

Since Chinese currency – yuan – was first devalued on August 10, rupee has recorded its sharpest depreciation among its competitors including China, Vietnam and Bangladesh. Since August 10, rupee has depreciated by 4.63% to 66.83, while yuan (renminbi) is down 2.51% to 6.37 against the dollar as of Monday. Among other competing countries, Vietnamese dong slumped by 2.96% to 22468 against the dollar on Monday from 21823 dong on August 10.

uS Customs seizes 30k smart Bangladesh Customs seizes cocaine at phones at Dallas Airport Chittagong port

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DHAKA

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S. Customs and Border Protection ofPicers working at the Dallas Fort Worth International Airport seized 30,000 mobile phones and accessories, valued at more than $960,000.

The shipment of phones was seized for intellectual property rights (IPR) violations.

CBP officers conducted an inspection of mobile phones and accessories when they discovered Underwriters Laboratory (UL) markings on the battery and the charging cord that appeared to be counterfeit. CBP officers and import specialists contacted UL who determined that the UL mark was in fact fraudulent. Underwriters Laboratory has recorded its trademark with U.S. Customs and Border Protection.

This shipment of counterfeit

SL increases import tax on potatoes, sugar he import tax on a kilo of potatoes has been increased by Rs.10 with effect from last night, while the tax on a kilo of sugar has been increased by Rs. 12, the Finance Ministry said today. “The import tax on potatoes was increased because the harvestof local farmers has started enteringthe market,” the ministry said. Meanwhile, Sri Lanka and the United Arab Emirates Friday explored ways to strengthen the bilateral ties between the two countries, especially in trade and investment. The discussions took place when the UAE Foreign Minister, Sheikh Abdullah bin Zayed al-Nayhan met with his Sri Lankan counterpart Minister Mangala Samaraweera yesterday at the Ministry. The UAE Foreign Minister is visiting Sri Lanka on the invitation of the Sri Lankan government. During bilateral consultations the Foreign Ministers explored ways of strengthening trade.

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items which originated in China was enroute to Louisiana when CBP ofPicers seized the shipment, Aug. 18.

“Counterfeiters have become increasingly sophisticated and aggressive in their efforts to pass unsafe and low quality products to American consumers,” said Dallas CBP Port Director Cleatus Hunt.

“This seizure protects the trade-

mark holder and its employees while denying proPits to counterfeiters.”CBP protects businesses and consumers every day through an aggressive IPR enforcement program. CBP targets and seizes imports of counterfeit and pirated goods, and enforces exclusion orders on patent-infringing and other IPR violative goods.

Malaysian Customs seizes drugs worth RM3m

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he state Customs Department foiled an attempt to smuggle out an assortment of drugs worth over RM3 million at the Prai Wharf here on Tuesday.

Customs officers smell something fishy when they found the three-tonne Indonesian-registered boat docked at the wharf when it was supposed to have left for Indonesia on Sep 1. They then checked the boat and found 10

packets of Methaphitamine, weighing 10.7kg in the wall of the boat.

Also found were eight packets of drugs, believed to be Estacy, weighing 11.32kg. State Customs Department director Datuk Mohd Pudzi Man said five Indonesian seamen were also detained to assist in investigations. “We also managed to seize a Norinco 9mm pistol, a magazine round and 31 9mm live bullets.

angladeshi authorities have confirmed that cocaine was hidden in a shipment of edible oil seized in the port city of Chittagong.

The authorities confirmed the findings on Tuesday after 107 barrels were seized earlier in the year reportedly the largest shipment of “liquid cocaine” ever retrieved but said they were not sure exactly how much cocaine had been hidden in the intercepted shipment from Bolivia. The Narcotic Department’s chief chemist Dulal Krishna Saha confirmed to Anadolu Agency that cocaine was found in the barrels after a retest last week.

“Edible oil and cocaine don’t mix. If you put edible oil with cocaine and leave it untouched for a certain time, the cocaine goes down to the bottom of the container. Then you can collect the cocaine from the container’s bottom,” he explained. Bangladeshi police said in June that the consignments were headed for India

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but were not sure whether that was the final destination. The cocaine seizure highlighted the increasing use of Chittagong as a transit point for drug smugglers.

This year Chittagong has seen a spike in seizures of Yaba tablets, known as the “madness pill”, which are smuggled from across Bangladesh’s eastern border with Myanmar. Earlier September, Bangladesh’s Home Minister Asaduzzaman Kamal had to defend Abdur Rahman Bodi, the ruling Awami League’s Member of Parliament in Cox’s Bazar, which borders Myanmar, against allegations that he and his family were heavily involved in Yaba smuggling.

Meanwhile, Hardware worth Tk 100 million for VoIP operations has been confiscated at the Shahjalal International Airport in Dhaka.

Customs intelligence seized the equipment, which can be used for international call terminations through an IP-based network, from the air-freight unit on Monday. “On Aug 10, a total of 118 cartons arrived from Hong Kong. After waiting for 21 days for a claimer, they were opened on Saturday.

macau Customs seizes bogus goods acau customs nab duo smuggling bogus goods, Macau Customs Service ofPicers have busted a 53-year-old logistics company owner, surnamed Lai, and a 56-year-old driver, surnamed Kou, on suspicion of smuggling bogus goods into the city from the mainland before sending them on to a third destination. Both male suspects are local residents, ac-

cording to the Customs Service. Customs Service spokesperson Ian Chan Un revealed details of the case during a press conference at the Customs headquarters in Barra here the other day. Ian said the counterfeit items included mobile phones, watches, handbags and shoes, adding that ofPicers discovered the items while inspecting 120 boxes of cargo at the airport on August 12.

Hk Customs seizes 30,000 optical discs worth $700,000

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HONG KONG

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ong Kong Customs conducted an anti-piracy operation in Wan Chai here the other day and successfully raided four shops suspected of selling pirated optical discs. More than 30 000 suspected pirated optical discs worth about

$700,000 were seized. Three men, aged between 31 and 50, were arrested. They were released on bail pending further investigation.

The seized discs were mainly Japanese cartoon TV series and movies. Mainland and Hong Kong TV dramas and movies were also found.

Under the Copyright Ordinance, any person possesses an infringing copy of a copyright work with a view to selling

it is liable to the maximum penalty of imprisonment for four years and a Pine of $50,000 per infringing copy. Customs appeals to members of the public to respect intellectual property rights. Anyone who comes across any suspected piracy activities is encouraged to make a report to Customs by calling the 24-hour hotline 2545 6182.

Meanwhile, A 32-year-old woman has been arrested for smuggling a slab of

suspected cocaine from Manila to Hong Kong. The woman, who claims to be a salesperson, was stopped on Saturday as she made her way through customs at Hong Kong International Airport. An X-ray check on the suitcase she was carrying revealed suspicious images and, after a thorough search, 1.3 kilograms of suspected cocaine were found in a false compartment in the bag.

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Port of Tyne welcomes world’s largest car transporter vessel SOUTH SHIELDS: The world’s largest car transporter vessel which can carry 8,500 vehicles and boasts deck space the size of 10 football pitches has arrived into the UK on its maiden voyage from China. Hoegh Target, the world’s biggest Pure Car and Truck Carrier (PCTC), dwarfs North Shields Fish Quay after docking in Tyne and Wear this week.

The 14-deck vessel, which is 200 metres in length and 36 metres wide, has a deck space of 71,400 square metres and if all of the cars it could carry were stood end to end, they would measure a whopping 26 miles. It also boasts doors much bigger than its counterparts, meaning it can take high-sided vehicles and trucks that are 6.5 metres high and 12 metres wide.

garment shipments grow 3.17% YoY to $2.28 billion SHIPMENTS

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arment exports bounced back in August, as earnings grew 3.17 percent year-on-year to $2.28 billion, according to data from the Export Promotion Bureau. Exports from the sector started increasing in April thanks to an end to prolonged political unrest. In July, exporters earned $2.21 billion, a drop by 11.96 percent yearon-year. In the July-August period, exports from the sector grew 6.15 percent year-on-year to $4.50 billion.

Overall export earnings in August grew 27.73 percent year-on-year to $2.75 billion, which is 8.43 percent higher from the monthly target of $2.54 billion. The country fetched $5.38 billion in July-August of the current fiscal year which is 4.71 percent higher from the earnings of the same period last year.

Exports of jute and jute goods were worth $133.39 million.

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Wistron, Inventec observe rising PC shipments in August istron and Inventec have announced their August shipments with Wistron shipping 1.6 million notebooks in the month, up from 1.4 million units in July and expected to see the volume in September returning to the 1.9 million unit level recorded in June. Inventec shipped 1.7 million PCs and mobile devices (notebooks, all-in-one PCs and tablets) in August, up 9.67% from a month ago. If Wistron achieves its goal of shipping 1.9 million notebooks in September, the company’s third-quarter shipments will reach 4.9 million units, up from 4.6 million in the second. However, Wistron remains conservative about its shipment performance in the fourth quarter due to weak visibility.

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Ports & Shipping

‘Swaziland not consulted mozambique on port plan’ CuSTomS BuLLeTiN reporT www.customsbulletin.com

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with the Mozambique coast. However, it was soon pointed out that the distance to the coast was more than 70 km. Swaziland has no coastline of its own.

In his interview, Dlamini conceded that they had miscalculated the distance. He also said that the Swazi Government had not consulted with Mozambique about digging a canal through its territory.

The seaport and canal in the landlocked kingdom has been criticised outside Swaziland as another

vanity project for King Mswati, who rules Swaziland as sub-Saharan Africa’s last absolute monarch. The KMIII Airport, formally known as Sikhuphe, was built on the instructions of the King, without benePit of a needs analysis. It has proved to be a disaster since it was formally opened in March 2014. Only one airline uses the airport, and that is partly owned by Swaziland.

No other commercial airline has publicly said it is interested in using the airport.

XPO Logistics to acquire Con-way in $3b deal PO Logistics Inc. said it will acquire trucking company Conway Inc. for $3 billion, capping a run of acquisitions that will make the company one of the largest freight transportation and logistics providers in the U.S. The acquisition, following the $3.5 billion purchase of French trucker Norbert Dentressangle SA in June, will increase XPO’s annual

worldwide shipments of Apple iphone expect to reach 85m in H2 of 2015 orldwide shipments of Apple Inc.’s next- generation iPhone are expected to reach 85 million in the second half of 2015, outpacing shipments of last year’s iPhone 6 models, according to research by an Asia-based brokerage. In a note to clients released Tuesday, the brokerage said that the component shipment schedule for the so-called iPhone 6S is around one month earlier than for the iPhone 6 in the third quarter of 2014, particularly for the Force Touch and backlight-related components. The brokerage forecast that 30 million iPhone 6S components will be shipped in the third quarter of this year and another 55 million will be shipped in the fourth quarter, compared with 20 million iPhone 6 components shipped in the third quarter of 2014 and 65 million shipped in the final quarter of last year. That will make for a flat year-on-year growth for iPhone 6S component shipments in the second half of 2015, said the Asian brokerage, whose name cannot be disclosed because it was offering specific forecasts that could influence the market. “For the iPhone 6S, the spotlight should fall on Force Touch, a new rose-gold color option, and an upgraded 12-megapixel rear camera from 8-megapixels in previous models,” the brokerage firm said.

“Consumers are eager to see how Force Touch will be applied to enduser applications.

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he Swaziland Government has conPirmed that it has not consulted with neighbouring Mozambique on a plan to build a US$3 billion port and canal linking that country’s coast to Swaziland.

And, Minister of Commerce Industry and Trade Gideon Dlamini said the project would be as successful as the US$250 million King Mswati III (KMIII) International Airport.

He meant this to highlight that the seaport would be a success, but the KMIII flies fewer than 150 passengers out of the kingdom on any given day.

Dlamini said in an interview that is in effect owned by King Mswati, after the plan for the port received international scorn. When the government announced the plan in August 2015 it said a 26-km canal would link a proposed seaport at Mlawula in the Lubombo region

Friday September 11, 2015

revenue to $15 billion, more than six times the $2.4 billion revenue reported in 2014, the company said.

The deal also will put XPO directly into the trucking business in the U.S. for the first time, marking the company’s transformation from a company that primarily operated as a middleman between shippers and carriers into a firm that generates roughly one-third

of its revenue from its truck fleet and other hard assets. That runs counter to prevailing trends in the logistics sector, where so-called asset-light companies are seen as having an advantage because they can be more flexible in scaling operations to demand and don’t face fixed costs.

The deal amounts to $47.60 a share for Con-way.

Zhuanghe port to become new gateway for shipments

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BEIJING

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huanghe port will become a new gateway to the sea in Northeast China for heavy equipment, household products and cold chain logistics, said Zhao Yongbo, mayor of the city.

Four berths have been put into trial operation while nine others are

under construction.

When the expansion is complete, the port will become a State-level import port for resources including timber, aquatic products, renewable resources and minerals and its cargo throughput is expected to reach 10 million metric tons.

“The trial operation will greatly support the launch of the ChinaJapan-South Korea Circular Economy Demonstration Base. Roll-on, roll-of

passenger ships operating between Zhuanghe and South Korea will also be launched in the future, which will attract more investors from Japan and South Korea,” Zhao said. In June, the National Development and Reform Commission, China’s top economic planner, the Ministry of Foreign Af airs and the Ministry of Finance approved plans to build the China-Japan-South Korea Circular Economy Demonstration Base in

Dalian Recycling Industry Economic Zone in Zhuanghe. About 39 enterprises have started operations in the base and many of their imports and products are transported through the port. “After the expansion is completed, Zhuanghe port will become an important national hub for the import of wood, aquatic products and minerals as well as the export of heavy equipment, furniture and low temperature products,” Zhao said.

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Faisalabad Customs Intelligence holds smuggled generator worth Rs 1.5 million FAISALABAD: The Faisalabad Customs Investigation and Intelligence has seized foreign origin electric generator worth Rs 1.5 million involving duty/taxes amounting to Rs 834,300, besides impounding a Mazda Mini Truck valued at Rs 300,000 being used for the transportation of the generator. Customs Intelligence team following information conveyed through Additional Director Muhammad Ismail conducted raid near Shahkot Toll Plaza, Faisalabad to capture the smuggled items.

Friday, September 11, 2015

CUSTOMS BULLETIN

RTO Multan surpasses revenue collection target in August MULTAN

imrAN ALi

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he Federal Board of Revenue (FBR) Regional Tax OfPice Multan has surpassed the collection target during the second month of Piscal year 2015-16.

The FBR had allotted the collection target of Rs 5.32 billion for the month of August during the on-going economic year 2015-16. The revenue collection target for the month of August includes Income tax, sales tax and federal excise duty.

The target for the collection of income taxes was set at Rs 1.78 billion. The Regional Tax OfPice Multan has collected income tax of Rs 1.82 billion against the set target of Rs 1.78 billion during the month of August. Almost 102 percent target has been attained by the Regional Tax OfPice Multan in August.

The assigned target of sales tax collection for the Regional Tax OfPice Multan from the FBR for August was Rs 3.31 billion during the current Piscal 2015-16. Just about Rs 3.61 billion amount of sales tax has been collected by the Regional Tax OfPice Multan from the potential tax pay-

ers. Almost 109 percent sales tax has been achieved in August in the current Piscal year 2015-16.

The FBR has allotted the collection target of almost Rs 230 million federal excise duties to Regional Tax OfPice

Multan for the month of August in the existing economic year 2015-16. The Regional Tax OfPice Multan has col-

lected almost Rs 45 million during the month of August 2015 in the current Piscal year 2015-16.

KPK traders observe strike against levy of WHT on banking transactions PESHAWAR

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usiness and commercial activities came to a grinding halt in the provincial capital as traders observed complete strike to protest against the imposition of 0.3 percent withholding tax on all banking transactions exceeding Rs 50,000.

On the call given by the All Pakistan Anjuman-e-Tajiran (APAT),

all markets, shopping plazas, and bazaars in Peshawar, including Ashraf Road, Qissa Khawani, Saddar, Kohat Road, Shoba Bazaar, Jangi Mohallah, Ghanta Ghar, Karimpura, Meena Bazaar, Dalgarh, Saraaf Bazaar and Andar Sher remained closed all the day.

Traders held protest camps, demonstrations and rallies against imposition of 0.3 per cent WHT on all banking transactions exceeding of Rs 50,000 and demanding the government withdraw the tax because the ofPicials didn’t have “authentic data to differentiate between the Pilers and non-Pilers of

income tax returns”.

The traders refused the incentives spelled out by the Federal Board of Revenue (FBR), sticking to their single point agenda of withdrawal of the withholding tax on banking transactions. They said that businessmen had never refused to pay taxes, but the government instead of taxing those who were already in the net, should bring new people in to the tax net.

Traders’ leaders said that this tax not only made life of the traders miserable, but also destroyed the whole banking sector, as it was now facing a collective

loss of Rs 878 billion. The traders organizations have threatened to observe another strike on October 7, if their demand was not met.

Their representatives also called for Federal Finance Minister Ishaq Dar’s resignation. “The government is eying to collect Rs 35 billion through imposition of 0.3 percent withholding tax, burdening taxpayers, instead of taking measures for bringing new taxpayers into the existing tax net, says Sharafat Ali Mubarak, Central president of Anjum-e-Tajiraan Khyber Pakhtunkhwa. He viewed that according to economists, the country

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would have lost Rs 65 billion due to one-day strike, so we almost lost Rs 195 billion to the national exchequer, because of our fourth time strike, he added.

Mr Mubarak said “We will collect Rs 70 billion rather Rs 35 billion if the government should sit and negotiate with us”. He asked the government to withdraw 0.3 percent withholding tax or defer it, and should start talks with trading community. He warned that if the government didn’t accept their demand, they would again hold strike after Eidul Azha on October 7, 2015.