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pAkiSTAN’S FirST iNDepTH NewSpAper oN CuSTomS
Daily
Vol 1 Issue No. 184
Karachi, Fri September 18, 2015
KARACHI
AFTAB CHANNA
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he Directorate of Post Clearance Audit (PCA) Karachi has detected tax evasion of at least Rs 12.1 million by M/s Notus Lahore on under-invoicing. The PCA, on scrutiny / audit of import data, found that M/s Notus, which is located in D, Model Town, Lahore, NTN # 1852454-7 imported “Logic Integrated Circuit Board
Price Rs. 14.00
with Processor LCD with all standard accessories” under PCT heading 8538.9090 through MCC Appraisement (West), Custom House, Karachi at a declared unit value of $2.25 per piece and $2.0 per piece from China. It is evident from the history of the importers that a case of under valuation of the identical item from same origin and same supplier found and adjudicated vide Order-in-Original No. ONO – 135705–10102013 on the basis of invoice found in the container at the time of examination, showing unit value at the rate.
Adjudication Deputy Collector Kaukab reserves judgement in 3 smuggling
Excise Sindh to launch one link facility for property tax
Dar, Thomas agree to enhance bilateral trade relations
US cargo case: Customs judge summons jail chief over non-compliance
CPEC project to start new era of development in Pakistan: Experts
Customs Collectorate of Adjudication Islamabad has heard 20 cases | See pAge 02 |
Sindh Excise and Taxation Department is going to introduce one link facility | See pAge 03 |
The Finance Minister Ishaq Dar received the German Deputy Minister | See pAge 04 |
The Special Court of Customs Taxation and Anti-Smuggling | See pAge 12 |
The LCCIWednesday organized a seminar on“China-Pak Economic Corridor | See pAge 09 |
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Pakistan sees imbalance in trade with China after signing FTA Friday, September 18, 2015
National
ISLAMABAD: Pakistan wanted to lessen trade tariff on export goods in the light of Free Trade Agreement (FTA) with China. Trade Minister Khurram Dastgir is already in China to attend trade Minister’s Conference, where he will meet the Chinese prime mister and trade minister. Dastgir will also discuss the FTA during his meeting with both ministers. According to sources, Pakistan trade delegation will discuss Free Trade Agreement and its effects on Pakistan after its implementation since 2007. The sources further added that FTA is imbalanced and not in favour of Pakistan.
Adjudication Deputy Collector kaukab reserves judgement in 3 cases Adjudication Additional Collector iram orders to confiscate smuggled cell phones
govt rejects proposal to impose duty on indian goods ISLAMABAD
m FAiZAN
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ISLAMABAD
SHAHiD miNHAS
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he government has rejected a proposal to impose duty on Indian imported items such as textile, agriculture, automobiles, footwear. This step was being taken to decrease Indian imports in the country. Sources told Customs Today that a meeting was held presided over by Federal Minister for Commerce Khurram Dastigar Khan in which Federal Finance Minister Ishaq Dar and Advisor to Prime Minister on Revenue Haroon Akhtar Khan and Chairman FBR Tariq Bajwa were also present. During this meeting, some proposals were discussed to decrease Indian, and Ryan imports from China while on the other hand duty should be enhanced on these imports. But when these proposals were forwarded to Prime Minister, he immediately called a meeting. It was decided during this meeting that it is not easy task to impose duty on Indian imported items as Pakistan is a signatory of SAFTA with India and if Pakistan will levy duty on Indian items then India will definitely impose RD on Pakistani items.
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ustoms Collectorate of Adjudication Islamabad has heard 20 cases pertaining to anti-smuggling here on Wednesday and reserved judgements in three cases. According to the details, Deputy Collector Adjudication Islamabad, Kaukab Farooq heard 11 different types of cases of anti-smuggling including food, cloth, tea, auto parts and mobile phones cases. The deputy collector has reserved judgment in three cases, which will be announced later. However, other eight cases has been adjourned till tomorrow (Thursday) directing the parties to submit the evidence before the court. Meanwhile, Additional Collector Adjudication Islamabad, Iram M Aamir heard nine cases of anti-smuggling. While settling a case, she ordered to confiscate the consignment comprising cell phones and accessories as no one appeared before the court to claim ownership of the items. Besides, eight cases were adjourned till tomorrow.
Customs Court grants bail to alleged currency smuggler KARACHI
m YouSAF
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he Special Court of Customs Taxation and Anti-Smuggling on Wednesday granted post-arrest bail to a suspect in a currency smuggling case. Judge Syed Faiz Rasool Rashdi approved the bail for Muhammad
Rehmat Khan against surety bond of Rs 500,000. According to the prosecution, on August 27 the customs staff thwarted an attempt of smuggling of 157, 500 Saudi Riyals and 2,450 Omani Riyals out of the country. The currency was recovered from possession of passenger Rehmat at the Jinnah International Airport who was about to Rly to Dubai without declaring the money. Subsequently, the alleged smuggler was taken into custody and an
FIR was registered against him. Meanwhile, The Special Court of Customs Taxation and Anti-Smuggling on Wednesday summoned the Karachi Central Jail’s superintendent over his failure to conduct the medical tests of ailing suspect and submit medical reports. Judge Syed Faiz Rasool Rashdi was hearing the cases pertaining to pilferage of the US Army reverse cargo.At the outset, the counsel for suspect Muhammad Umar told the judge that despite court orders med-
ical tests of his client were not conducted. Therefore, the court summoned the superintendent of Karachi Central Jail to explain why the court’s orders were not complied with. According to the prosecution, Directorate General of Transit Trade had lodged two FIRs pertaining to pilferage of US Army reverse cargo in 22 containers during their transit from Torkham to Karachi port. The cargo was declared to contain power generators with transformer and equipment for transit to Karachi port
for export to Dubai. When the containers were examined physically at Karachi port they were found empty. During course of examination, shipper and custom seals were found intact. However, the cargo declared in the invoice and packing list was not found in the containers.Subsequently two FIRs were registered against bonded carrier M/s. Port Connection (Pvt) Ltd and the authorized agents M/s Peerzada Service International, M/s Ghani’s International and M/s Multitrans Logistics (Pvt) Ltd.
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FIA arrests four suspects involved in human trafficking LAHORE: The Federal Investigation Agency (FIA) has arrested four suspects who are allegedly involved in human trafficking. Sources told Customs Today that all the above mentioned human smugglers were required in a number of cases registered against them in Lahore, Gujranwala and Sheikhupura. The arrested accused are identified as Riaz, Zaigham, Kashif, and Taufiq.Sources further said that the FIA has also seized a number of passports, visa stickers and other travel documents from their custody. While on the other hand, the Customs authorities during a operation at Allama Iqbal International Airport arrested two auto parts smugglers and seized huge quantity of auto parts from their possession.
Customs foils a bid to smuggle indian spices worth rs 6m; 3 arrested ISLAMABAD
SHAHiD miNHAS
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he Customs Anti-Smuggling Organisation has foiled a bid to smuggle 17,000kg Indian spices worth Rs 6 million, which were being smuggled under Intra Kashmir Trade (IKT) at Azad Jummu and Kashmir’s Chakothi area and arrested three accused. As per the details, customs authorities received information that the consignment was being smuggled from Azad Jummu and Kashmir to Rawalpindi. Sources said that during the checking, the customs officials recovered smuggled goods from a Hino truck bearing registration number P-8991 and a Shahzor truck bearing registration number SA-784 in Peshawar and Chakothi, respectively.
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Punjab Revenue Authority performs better than previous year LAHORE
m imrAN mAHer
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spokesman of Punjab Revenue Authority said that authority is already working efficiently in regards of tax awareness and collection. He said that the performance of PRA steady and remarkable as compared with past year.. Giving a comparison from different sectors with respect to revenue collection for the months of July and August 2015 as compared to the performance of PRA for the same two months of 2014, the spokesman said that in banking / non-banking/ insurance sector, PRA outperformed its previous performance as the collection for July 2014 was Rs 588.648 million which increased to the level of Rs 641.717 million, showing 9.02 percent increase. Similarly, in August 2015, collection increased to Rs 899.939 million from Rs 794.301 depicting 13.30 percent gain.
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Friday September 18, 2015
National
mTBA asks FBr to resolve issues faced by traders in computerised system MULTAN
imrAN ALi
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ultan Tax Bar Association (MTBA) has called for an immediate action from Federal Board of Revenue (FBR) to solve the critical issues of taxpayers as new computer policy of tax collection was not problem-solving but complicated and tax payers have grave concerned about it. Speaking at a press conference at Regional Tax Office (RTO) Multan, President of MTBA, A. Moeed Khawaja Advocate discussed the new tax policy and its consequences and said that IRIS (Integrated Revenue Information System) software was a premature system and its modules, which have been implemented from July 1, 2015, should immediately be ceased since it shows random discontinuity and it is not entering the tax deduction statements of previous two months even September 15 is the last date for this. He said the traders have serious concerns about the withholding tax as its mechanism is not so clear and FBR should make an attractive and provocative policy so that the tax payers show inclination to it. He further said the government ofRicials took stern actions on the non-payment of taxes against the taxpayers but on the point of tax refund the system was a complete failure as
IRIS has no such type of module. He highlighted that the IRIS has created a wide distance between the tax lawyers and their clients since the lawyers were unable to add and facilitate their clients as they did in the previous PRAL system. As a result, their clients were affecting badly due to IRIS and this system should be postponed for at least one year and this is not the right time for such type of immediate changes. He demanded that FBR should rein-
mTBA president says iriS is a premature system and its modules should immediately be ceased since the software shows random discontinuity
Senior customs officers’ arrest irks PCOA
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The Pakistan Customs Officers Association (PCOA) has expressed concern over the arrest of the senior Customs officers by National Accountability Bureau (NAB).According to sources, a meeting was held here in Islamabad in which PCOA President Director General-IPR Imtiaz Ahmed Khar, General Secretary PCOA Addi-
tional Collector Basit Abbasi, Director General Intelligence-Customs Lutfullah Virk and around 40 other senior Customs officers, including Sarwat Tahira Habib and Zeba Hai participated and protested over the arrest of senior Customs officers by (NAB). Sources said that the meeting observed that civil officers are always ready to cooperate with other agencies, but the arrest of
senior customs officers for the purpose of investigation regarding in years of old case is an act of harassment. Sources further added that meeting emphasized that the officers were only suspects and there was no solid evidence proving their acts as wrong, such mal-treatment of officers would inflict an irreversible loss to their reputation and social life.
state its helpline and solve the problems of tax payers regarding wealth statement promptly. Talking about the new registration system, he said that it would be a complicated system as compared to previous one as the national identity card number of any tax payer will become his/her national tax number (NTN) and for this the tax payer should have to complete certain requirements hence it is not so simple.
RTO-I seizes record of soap company for tax evasion ederal Board of Revenue (FBR), Directorate of Intelligence and Investigation (I&I), raided Moli Marka, a soap manufacturing company, and seized its record. Sources told Customs Today that the company is involves in tax evasion of million of rupees. The company manufacturs detergent powder Source further said that Regional Tax Office-I(RTO-I), Zone– III also seized the record of a paint company.
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FBR freezes bank accounts of Al Barka Properties Friday, September 18, 2015
Business
LAHORE: The Federal Board of Revenue (FBR) freezes bank accounts of former Punjab Governor Salmaan Taseer’s company due to evasion of excise duty. According to sources, Al Barka Properties, which is owned by Salaman Taseer’s family, was involved in evasion of excise duty. The Regional Tax Office-I Lahore has sent many notices to Al Barka Properties to clear their pending amounts but the company did not pay attention and not even replied to any notice. Now the RTO has freezed the bank accounts of Al Barka Properties at Allied Bank Fortress Stadium and NIB Bank Main Boulevard Gulberg and recovered Rs 6.1 million.
kSe loses overnights gains as 100-index sheds 208pts till midday KARACHI
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he Karachi Stock Exchange Thursday again witnessed negative note as 100-index shed 207.97 points to reach 33137.59 points till midday. The stocks recorded highest trading level of 33737.58 points and lowest level of 33093.61 points, with the total vol-
Dar chairs meeting on energy sector development
ume of 95,630,480 shares, having Rs6,950,131,118. On Wednesday, the Karachi stock market staged a snap recovery as KSE 100-index rallied by 154.10 points or 0.46% to close at 33,345.56 points. Traded volume declined to 104m shares as compared to 132m shares of the previous day, while value also decreased to Rs5b/$47.3m. Of total 358 traded companies in the session, 220 settled in advance, 113 closed in decline whereas 25 remained unchanged.
Partnership with USAID to explore new avenues in agri sector www.customsbulletin.com
ederal Minister for National Food Security and Research Sikandar Hayat Bosan has said that Pakistan’s partnership with USAID will explore new avenues in agri-development sector. Besides, irrigation canals would be constructed to increase farm productivity and processing units to be established in Gilgit Baltistan under Satpara Development Project.
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inance Minister, Senator Mohammad Ishaq Dar here on Wednesday chaired a meeting of senior officials of Ministry of Finance and Water and Power to review the current energy sector profile of the country. The meeting focused on funding from development partners including World Bank, JICA and ADB for energy sector and emphasized efforts to expedite work on Diamer Bhasha hydro power project. There were also detailed deliberations on three LNG based power plants of 1200 MW each. The Minister sought update from the Ministry of Water and Power on measures to augment the north-south gas pipeline which he said is crucial for successful implementation of these projects. The Minister on this occasion reiterated government’s resolve to bridge the demand-supply gap of electricity and said 10,000 plus megawatts would invariably be added to the national grid by December 2017. The Minister on this occasion also referred to his meeting with the German Deputy Minister for Economic Cooperation and said he welcomed German cooperation in different realms.
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High prices of sacrificial animals keeping buyers away
ISLAMABAD
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ISLAMABAD
SIALKOT
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he high prices of sacriRicial animals were keeping buyers away from sacriRicial animals in local make-shift markets of sacriRicial animals being established in Sialkot, Daska, Sambrial, Uggoki, Satrah, Daska, Chawinda, Badiana, Pasrur and surrounding areas. Though Eidul Azha was now fast
approaching, the sacriRicial animals including goats, sheep, cows, bulls and even camels reaching here in a small number, this short number of the sacriRicial animals was also the major cause behind their high prices here. People were of the view that prices of the sacriRicial animals (though available in short number) were very high as compared to their last year’s prices. They said that these prices were still out of reach of the common man, persuading them to join the cost-sharing scariRies. According to the lucrative banners displayed, mostly the religious
organizations offered a package for cost-sharing sacriRice of the cow at Rs 10,000 to 12,000 per share for sacriRice of cow with the expenditures of butchers, who will slaughter these animals during the Eid days. Some daily waged people said that these packages were also out of reach for them following the skyrocketing price hike in the country, however, they would try to afford this offer of joining the cost-sharing sacriRices in such sky-rocketing price hike, which was putting almost all the things out of the reach of the common man.
Dar, Thomas agree to enhance bilateral trade relations ISLAMABAD
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he Finance Minister Senator Mohammad Ishaq Dar received the German Deputy Minister for Economic Cooperation, Thomas Silberhorn for a meeting here on Wednesday.
Welcoming the deputy minister, Ishaq Dar acknowledged the increase in German development and economic assistance over the past few years. He reiterated the engagement with Germany in the sectors of energy, health, governance and education. He said Pakistan would also like to expand its cooperation with Germany in the spheres of trade, science and technology, automobile industry, manufacturing and renewable energy projects.
The German deputy minister on this occasion referred to the upcoming Pak-German Bilateral Negotiations to be held in Berlin from October 28-30, 2015 and hoped they would further expand bilateral cooperation. He apprised the minister about the Rinancing agreements between EAD, Pakistan and KFW of Germany on economic cooperation. He said this was an example of Germany’s continued support to Pakistan for development in
different sectors. Dar while appreciating German assistance for TDPs and development work in FATA underlined that all support activities to FATA is spearheaded by the federal government, therefore all efforts must coincide and supplement instead of duplication or overlapping. He also called upon the German side for revisiting the bilateral agreement between the Government of Pakistan and Federal Republic of Germany which was
signed in 1972. He said as a result of subsequent legislative and economic developments on both sides, relevant changes are required in the Agreement which may be discussed during the upcoming Bilateral Negotiations. The German ofRicial said that bilateral development cooperation between Pakistan and Germany commenced as early as 1961. Pakistan was the Rirst country to avail economic assistance from Germany in that year, he said.
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Friday, September 18, 2015
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MABAD A iSrAr
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e offering duty drawback schemes emoval of duty on import of raw ma, the exports from Pakistan are deng as compare to previous years, h is a matter of concern. Custom Exports Arslan Subuctageen tated this while giving an exclusive view to Customs Today, adding that ncumbent government and the FedBoard of Revenue (FBR) have taken ures to arrest the falling exports. BR is bringing various mechanisms nhance the exports, including isce of duty drawbacks, introducing s and promotion of small and medium prises under SRO 327 and 492, Arsaid, adding that the government has emoved duty on import of raw mateo raise the production of value added ucts. arified that the FBR is trying to pay reclaims as soon as possible as Rs 8.4 n refunds are in the shape of duty
drawsback, Rs 18 billion under the head of duties and taxes from DTRE, Rs 13.37 billion in the form of manufacturing bonds and Rs 11.11 billion refunds in the wake of SRO 492 and 327. In order to increase the leather garments exports, the FBR has lowered taxes and increased the duty drawsback rates on it under SRO 923 102015, he said, adding that tax rates for hosiery sector has also been re-
vised. He highlighted that Pakistan’s trade was increasing with neighbouring country Afghanistan and exporters are allowed to export of meat, fruits, vegetables and dairy products. He said that the matter of return of duty drawback has been taken under serious consideration as Prime Minister Nawaz Sharif himself took a notice of it in a meeting held on September 11, 2015. In answer to a question, he said that Director General of Customs Valuation has been asked to redetermine the value of items. He further stated that exports were witnessing downward trend due to the increase in cost of production as power tariff is increasing day by day. He said that lack of subsidies to export oriented sectors is neutralizing the benefits of GSP plus status.
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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
govt needs to do more
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espite all positive indicators such as thriving stock market, stable currency and low inflation, Pakistan could not become a promise land for foreign investors who still prefer to go to India, Bangladesh or even Ghana than coming here. Since the country joined the USled war on terrorism, hundreds of thousands of people have been killed in terrorism activities and the nation still feels the heat of uncalled for war despite the passage of over one and half decades. The nation has travelled from dictatorship to democracy, but conducive investment climate could not be created. The general impression all over the world is that Pakistan is a dangerous place to live and it is very difficult for anyone to invest in an unstable country to risk his money. The present government has introduced various reforms after coming to power, but it could not convert Pakistan into an attractive investment destination. The International Monetary Fund has projected 4.7 percent growth rate for the country in financial year 2015-16 and the State Bank has lowered its benchmark interest rate at 40 years low. The construction industry has recorded a growth of 5.5 percent and car sales have jumped by 22 percent. The stock market is robust and decrease in oil prices in the international market has somehow resolved the balance of payment problem as the country spends five percent of its GDP on the import of petroleum products. According to IMF, Pakistan can save $12 billion in the next three years if the oil prices remain low. However, Prime Minister Nawaz Sharif needs to do more to maintain financial discipline. His government is engaged with IMF program soon after coming to power in 2013 and still looks toward the donor agency to streamline financial affairs. What the government needs to do is to announce a generous investment package for businessmen to enhance industrial growth. It should also look into the causes which lead foreign investors to land in India and Bangladesh than Pakistan despite acquiring a better position in ease to do business index than the countries in the region. Through the good offices of Finance Minister Ishaq Dar, the country has achieved economic stability, but the economy needs to grow by at least 7 percent to meet the losses incurred during the years under dictatorship. At least 25 percent population in the country lives below the poverty line and most of it lacks health, education and employment opportunities. The government still not has come out of energy crisis and security issue remains to haunt foreign investors. However, fears of foreign investors can be removed if the government has the will and commitment to serve this nation.
Arresting falling exports I
LAHORE
Dr AFTAB AFZAL
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n a meeting with leading exporters and businessmen of the country, Prime Minister Nawaz Sharif bespoke a paradigm shift in the government policy to arrest the falling exports and sought suggestions and recommendations from the business community to chalk out a strategic trade policy framework for the promotion of trade and industry in the country. The country is facing shortage of electricity and Rinancial indiscipline, not because of any ill-intention on the part of the government, but due to lack of capacity of the implementation machinery. Some of the demands by businessmen
are genuine such as early release of refund claims, but pressuring the government to opt for so-called “rationalization of the Pakistani rupee” will further ditch the country into economic woes. The national currency has been eroded to the extent that it has lost strength against even the Bangladeshi taka and Thai bhat. However, the exporters demand for a development of mechanism to avoid delayed release of funds needs to be heard. The businessmen want the government to rationalize taxes on textile industry and revision of electricity tariff to minimize the cost of production to make Pakistani products competitive in the international market. The government should also discourage wholesale dumping of Indian and Chinese
goods and there is a need to impose anti-dumping on semi-Rinished textile products from the neighbouring countries. As we have earlier mentioned in our editorials, the cottage and agriculture sectors of Pakistan are well established and need the government support to introduce indigenous products in the world market. The government should encourage local and foreign investment to expand the volume of economy and not the volume of taxes from the existing taxpayers. The government will have to search causes and effects, which led to stagnation of exports as compared to the countries in the region. The world is heading toward possible recession as many industrial countries such as China, Japan
and Korea are facing economic slowdown, but Pakistani products have the chances to Rill the vacuum by penetrating in the international market. No doubt various mega projects have been launched to generate electricity and develop infrastructure, a comprehensive package to revive industrial activities is also need of the hour. The business community should also Rind black sheep within its ranks who wants to avail all the utility services free of cost but does not want to pay taxes. A better coordination between ofRicial machinery and business community is necessary to identify the troubling areas hindering exports and devise a coordinated strategy for the growth of the economy.
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Lakeshore Chamber organises expo to highlight 60 local business enterprises NEW YORK: Lakeshore Chamber of Commerce will highlight 60 local business enterprises, as they display their wares and services Sept. 23 at the chamber’s 11th annual Business Expo, set for Dynasty Banquet Center in Hammond. Additionally, the chamber’s popular Expo luncheon will feature a panel of economic development experts who will highlight recent victories in East Chicago, Hammond, and Northwest Indiana.
ministry of petroleum fails to provide cheap Lpg to masses: LpgAp hairman of Liquefied Petroleum Gas Association of Pakistan (LPGAP) Farooq Iftikhar said that Ministry of Petroleum has remained failed to respond to its national duty of providing LPG at cheaper rate to the masses and was instead involved in profiteering by auctioning its production of LPG at exorbitant rates. He said that it was a matter of concern that Ministry of Petroleum was playing role of silent spectator and taking no measures to rescue the local LPG industry which was struggling for survival while smugglers of low quality, spurious and adulterated LPG were playing freely. Iftikhar said that importers of LPG were on a rampage and were importing over 20,000 MT of LPG as import price was extremely attractive. In fact government waqs helping the importers by keeping price of local LPG high, he added. “We have time and again impressed upon OGRA and MNPR that Since December, LPG producers have consistently been setting their LPG base-stock prices far above the monthly Saudi Aramco Contract Price, failing to pass on the benefit of reducing global prices to consumers. The current Saudi CP as $333/MT while OGDCL has notified its basestock price at Rs 43,000/MT and PRL at Rs 42,000/MT and Mid Country Refinery PARCO at Rs 45,000, chairman LPGAP added. He said that such pricing decisions were in apparent disregard of the LPG (Production and Distribution) Rules, specifically Article 2(R). Additionally, since virtually all LPG producers have “Signature Bonus” and “Profit Sharing” mechanisms now in place with LPG Marketing Companies, the actual LPG base-stock price was even higher than notified. As a result, locally produced LPG was far more expensive than it reasonably ought to be.
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Friday September 18, 2015
Chambers
CpeC project to start new era of development in pakistan: experts LAHORE
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he Lahore Chamber of Commerce and Industry (LCCI) Wednesday organized a seminar on “China-Pak Economic Corridor–Private Sector” where speakers urged government to take private sector on board on China Pakistan Economic Corridor project as business community wants to work for economic uplift of the country. Experts from various sectors of economy spoke on the occasion and threw light on the importance of private sector’s role for the success of this game changing project. The LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir, Chinese Consul General Yu Boren, Additional Chief Secretary, Energy Department Muhammad Jehanzeb Khan, Convener LCCI Standing Committee on Pak China Business Promotion Siddiq-urRehman Rana, Former Vice Chancellor-UET and Chairman Punjab
Curriculum Textbook Board Lt. Gen. Muhammad Akram Khan, Project Director – CPEC, Ministry of Planning, Development and Reform Maj Gen. (Retd) Dr. Zahir Shah and former Rinance minister Dr. Salman Shah were the key speakers. Experts said that CPEC would start a new era of progress and prosperity in the country, therefore, it should be handled through publicprivate partnership that would enable private sector avail this unique opportunity.
The LCCI President Ijaz A. Mumtaz said that objective of holding this seminar is to apprise the members about the trade and investment opportunities expected to occur right from the beginning and till the completion of this most vital economic corridor. He said that it will not be wrong to say that the economic beneRits of this project are hard to estimate. China has already promised to invest more than $46 billion in this connection. This project has the potential to work as a big push the-
ory of Economics. He said that although both the governments are closely collaborating in this project but at the same time, the private sectors of Pakistan and China are going to have a bigger role to play in this mega project. Chinese Consul General Yu Boren said that CPEC is an overall cooperation platform with a focus on the longterm development of bilateral cooperation in various Rields. “Right now, we are focused on the four major areas of Gwadar Port, energy, transport infrastructure and industrial parks. In addition, under the framework of CPEC, the cooperation on agriculture, science and technology, Rinance, education, cultural and media exchanges is underway”, Chinese Consul General added. Mumtaz said that in recent months, a number of delegations from China visited Lahore Chamber to study the trade and investment environment in this region. The Chinese delegates from Jiangmen, Yantai, Qinghai and Urumqi etc. directly interacted with their Pakistani counterparts. He said that it is needless to mention that leading chambers of commerce like LCCI will have to spearhead these efforts to ensure widespread gains to all the stakeholders.
ittehad Founders’ group wins all five seats of SCCi Corporate Class
Longmont Area Chamber elects Bruce as new president
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he ruling Ittehad Founders’ Group, won all the Rive seats of Sialkot Chambers of Commerce and Industry (SCCI) Corporate Class by defeating rival Democratic Founders’ Group, during the annual elections of SCCI. SCCI Election Commissioner Sheikh Naveed Iqbal told that ruling Ittehad Founders’ Group candidates Majid Raza Bhutta, Abdul Ghafur Malik, Saad Bin Imtiaz, Mian Imran Akbar and Shehzada Zeeshan Zeb Mirza were elected as SCCI Corporate Class Executive Class mem-
bers today. Polling for the annual elections of SCCI Associate Class would be held today Sep 17, 2015 at SCCI here. The peaceful, impartial, transparent and independent polling was held at SCCI here today for the annual elections of Sialkot Chamber of Commerce and Industry (SCCI) here today. The women entrepreneurs led by Dr. Mariyam Nouman showed keen interest in this election by casting their votes. The polling for SCCI’s Executive Committee Corporate Class Rive seats was held today (Wednesday) in which as many as 702 registered voters cast their votes.
Meanwhile, Yasar Dogan (Chairman All Industrialists and Businessmen Association Turkey) vowed to make all out sincere efforts to promote and strengthened trade, cultural and political friendly relations between Pakistan and Turkey. He stated this while addressing Sialkot exporters during his visit to Sialkot Chamber of Commerce and Industry (SCCI) here. SCCI president Fazal Jillani, senior vice president Mir Alamgir Meyer, vice president Malik Naseer Ahmed, Mian Mohsin Gull and Qaisar Iqbal Baig were also present on this occasion Turkish industrial tycoon stressed upon the need of promotion of developed mutual trade ties between Pakistan and Turkey.
ruce R. Partain has been named as the new president/CEO of the Longmont Area Chamber of Commerce. Partain comes to Longmont after having served as the president/CEO of the Nacogdoches County Chamber of Commerce in Nacogdoches, Texas between Dallas and Houston. He had held that position since 2001. Prior to that he was vice president of membership and communications for the Midland, Texas Chamber of Commerce. "We are very pleased to have someone of Bruce's caliber joining us," chamber board chair Carol Schack said. "After an extensive interview process, involving not only our board of directors but also business and community leaders, we feel that he has the skills and expertise that will help lead the Longmont Area Chamber of Commerce now and into the future."
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Russian currency down to 1.54 against Azerbaijani manat Friday September 18, 2015
World
MOSCOW: The bi-currency basket, revived by the Central Bank of Azerbaijan, does not describe fully the disposition of currencies of the main consumer good suppliers in the country, but is much higher than the real import currency basket. According to customs statistics, the main suppliers of consumer goods in the country are Russia, Turkey and the EU (euro zone), but the bi-currency basket does not include Russian and Turkish currencies. The currencies of the EU, Russia and Turkey form the import currency basket. It includes three currencies, weighted by their formal share in the supply of consumer goods to Azerbaijan: Russian ruble and Turkish lira by 35%, the euro.
macau authorities seize cocaine worth HkD30,000 MACAU
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ANKARA
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or the Rirst time ever, Macau authorities have found that drug cartels are using Hong Kong university students’ rectums to smuggle drugs into Asia’s gambling capital. Acting on intelligence, the Macau authorities conducted a targeted investigation and stopped a young man entering the S.A.R. through the Outer Harbour Ferry Terminal, reports Oriental Daily. Upon questioning (“Do you have drugs inside your rectum?”, we’re guessing), the 22-year-old university student promptly confessed (“Yes, I do,” he said, maybe). He was taken to the police station, where they presumably have nicer toilets, for further questioning. There, he “discharged” a condom containing six packs of cocaine, weighing a total of 9.96 grams and
French Customs seizes stolen jewellery worth eur 100,000 rench customs officers in the department of Jura detained a car with Bulgarian registration, which was transporting jewellery worth more than EUR 100,000, French Voix du Jura reported. The jewellery was stolen a couple of hours earlier, on the night of Monday to Tuesday. At around 5 a.m. on Tuesday, two Romanian nationals stole all the jewellery available at the Bullion jewellery shop in the city of Lons. The vehicle was selected for a check by a police patrol at around 7 a.m. The thefts were driving a BMW car with Bulgarian registration. The total price of the stolen jewellery is EUR 103,000.
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having a street value of about HKD30,000. According to the drug mule, smuggling drugs into Macau was a way of making some “quick cash”, and it was all arranged
through mobile messaging apps. Those who rented out their rectums were paid HKD3,000 per successful delivery after their return to Hong Kong.
Chinese police nab 3 culprits for smuggling animal products
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hree people detained by police in southwest China’s Yunnan Province are facing charges in connection with the smuggling of products made from protected animals, police said here the other day. Acting on tip-offs from the public, the Mangshi forest police found that the suspects were owners of a shop selling wood carvings. After a threeweek investigation, a woman surnamed Huang, her son and nephew
were arrested . A total of 219 tiger bones, rhino horns, ivory products and African lion paws were seized. Their combined value, according to police, exceeded 1.39 million yuan (US$ 218,000). “I have worked 20 years in the police, and I’ve never seen such a large quantity of trafRicked wildlife parts. Some are made from endangered animals,” said Hu Jiaguo, deputy director of the Mangshi forest police bureau.
ustoms and Trade Minister Cenap Aşçı, responding to an official inquiry, confirmed a report detailing gold imports and exports involving companies linked to Iranian businessman Reza Zarrab from 2011 and 2013. The report, authored by Customs and Trade Ministry’s chief inspector Mehmet Eryılmaz, was submitted to Parliament by Republican People’s Party (CHP) Parliamentary Group Deputy Chairman Levent Gök and published on Aug. Zarrab, who resides in Turkey, was a key figure in a major corruption and bribery investigation made public Dec. 17, 2013. The investigation implicated several senior Justice and Development Party (AK Party) officials. According to the graft probe, Zarrab is claimed to have distributed 137 million Turkish lira (66 million USD) in bribes to former ministers, their sons and possibly a number of other bureaucrats in order to cloak fictitious exports and
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money laundering. Minister Aşçı confirmed information from the final section of the 651-page report, detailing the existence of two firms that imported gold bullion and four that exported it. The report detailed the import and export of gold, and money transfers across Turkey, Iran, China, UAE and Russia between companies affiliated with Zarrab from 2011 and 2013. It highlighted the trade of over 100 tons of gold bullion between Zarrab’s companies as “highly suspicious.” The report also asserted that there was a trade partnership between Zarrab and Iranian businessman Babak Zanjani, who was arrested on Dec. 30, 2013, by Iranian police for allegedly stealing 2.8 billion USD dollars from the state. A 200,000 page indictment was prepared for Zanjani. Minister Aşçı added that the information had been submitted to the Treasury Department, the Finance Ministry and the Economy Ministry in order to prevent illegal exchange, foreign trade, tax fraud or money laundering.
Saudi Arabia’s imports drop 12% in July
Saudi Arabia’s imports dropped 12.2 percent in July compared with a year earlier, while non-oil exports tumbled 20.6 percent, data from the Central Department of Statistics and Information showed. Saudi foreign trade 07/15 06/15 07/14 (in bln riyals) non-oil exports 14.506 15.379 18.279 imports
44.597 51.825 50.773 DYNAMICS OF TRADE (pct y/y change in riyal terms) nominal non-oil exports 20.6 -21.1 nominal imports -12.2 9.9. Non-oil exports traditionally account for around 12 percent of the overall exports of Saudi Arabia. The world’s largest oil exporter does not release complete trade data on a monthly basis.
maidstone Crown Court jails 3 for smuggling 10kg heroin
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trio of drug dealers was caught after smuggling 10kg of heroin worth £4 million into the country hidden inside a suitcase. The gang, who were also found with £100,000 worth of cocaine, have now been jailed for a to-
tal of more than 36 years. Zahid Mahmood, 43, Bas Van der Weijden, 41, and Romeo Apostu, 44, pleaded guilty to the supply of millions of pounds of heroin and cocaine. On Friday, the men were all handed lengthy jail sentences at Maidstone Crown Court in Kent. Van der Weijden, from Eindhoven, Holland, was sentenced to 14 years in prison, Apostu, from Amsterdam,
Holland, was jailed for 13 years and Mahmood, from Handsworth, Birmingham, was handed nine years and four months behind bars. The men were the focus of a drugs supply investigation in March, when ofRicers saw Mahmood loading a VW Polo onto a recovery vehicle in Northamptonshire. Later that day, he was spotted again in Gravesend, south east London, meeting with Van der Weij-
den and unloading a suitcase from another car – the case was then put into the boot of the Polo. OfRicers quickly intercepted the recovery truck and found 10 kilos of heroin, both men were then arrested. Detectives from the Kent and Essex Serious Crime Directorate found that Van der Weijden had been travelling back and forth from England and Amsterdam with Apostu.
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Costa Cruises cancels port calls in Turkey ANKARA: In the wake of a terrorist attack on the U.S. consulate in Istanbul earlier this month, Costa Cruises has decided to cancel its remaining port calls in Turkey for 2015. Costa said the three ships that visit Turkey, including stops in Izmir and Istanbul, will be rerouted to ports of call in Greece, Italy and Malta. In a statement, Costa said the substitutions “will ensure the best experience to its guests and will meet their expectations.” The ships involved are Costa neoClassica, Costa Pacifica and Costa Deliziosa. The decision follows the August 10 attack committed by two women, who fired on the heavily guarded consulate. One woman was captured and later identified as a member of the leftist Revolutionary People’s Liberation Army Front.
outbound shipments plunge 21% in August to $21.26b NEW DELHI
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mid slowdown in the global economies, the country’s merchandise exports continues to decline for the ninth month in a row, recording a drop of 20.66 per cent in August to $21.26 billion, leading to a trade deficit of $12.47 billion. In August 2014, the merchandise exports had amounted to $26.8 billion. The last time exports registered a positive growth was in November 2014, when shipments had increased at a rate of 7.27 per cent. Terming the export numbers as a major disappointment, Soumya Kanti Ghosh, chief economic advisor, State Bank of India , says these are the worse export numbers since October 2010. The devaluation of Chinese Yuan is expected to have eroded competitiveness of Indian shipments and led to volatility in the exchange rate.
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Canadian factory shipments go forward 1.7% in July anadian factory sales rose for a third straight month in July, led by shipments of vehicles and auto parts, in another sign the non-energy side of the economy is picking up steam and set to drive growth in the second half of 2015. July manufacturing sales climbed at a faster-than-expected pace of 1.7% to 52.19 billion Canadian dollars (US$39.40 billion). Economists anticipated an advance of 1.1%, according to Royal Bank of Canada. The previous month’s data were revised higher as well, and indicate factory sales increased 1.5% versus the original estimate of a 1.2% gain. On a volume basis, sales in July rose 1.1%.
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Ports & Shipping
pacific maritime Transport Alliance kicks off 40th moot CANBERRA
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he PaciRic Maritime Transport Alliance (PMTA) kicks off its 40th annual conference today in Port Moresby under the theme “To improve Ports Productivity and Market Challenges”. With technical support from the Secretariat of the PaciRic Community (SPC), members of PMTA and ports authority delegates from around the PaciRic are meeting to discuss a number of items, including infrastructure and equipment, safety and security, emerging environmental concerns and training updates from the PaciRic Maritime Association. Key outcomes from this meeting will be the election of a new PMTA executive committee to serve for the next three years and agreed solutions to the urgent need for port dredging, for which it is hoped that this ongoing collective effort will conclude with a cost sharing ap-
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proach that will greatly assist countries that need to fast track this exercise. Maritime transport contributes as much as 8% of the world’s global greenhouse gas emissions. The conference will look to discuss concerns around climate change which will also include the presentation of a paper on the proposed green ports initiative intended to support PaciRic Island countries and territories to develop and implement plans aimed at in-
creasing the efRiciency and sustainability of port operations which incorporate various energy and environmental concerns. In attendance this week are country representatives and port stakeholders from Cook Islands, Federated States of Micronesia, Fiji, French Polynesia, Kiribati, Marshall Islands, Nauru, Niue, Papua New Guinea, Samoa, Solomon Islands, Tonga, Vanuatu and associate PTMA members of New Zealand and Australia.
Port Canaveral, UAE ports connect as sister ports ort Canaveral and the ports of Sharjah in the United Arab Emirates have entered into what officials called a “historic partnership” as “sister ports.” Canaveral Port Authority Chairman Jerry Allender said he believes the trip he and two other port representatives took to the United Arab Emirates to
sign the agreement will net new cargo business for Brevard County’s seaport. Allender was joined at the signing of the sister ports agreement between Port Canaveral and the Sharjah Port Authority by Canaveral Port Authority Commissioner Wayne Justice and Shannon Feeley, Port Canaveral assistant director of cargo busi-
ness. Their trip also was designed to make contacts with potential shipping partners in the United Arab Emirates. The United Arab Emirates for each of the last six years has been the United States’ largest trading partner in the Middle East, with more than $24 billion in bilateral trade in 2014.
Friday September 18, 2015
Japan launches mascot project for Bangladesh group of Japanese businesses yesterday launched a mascot, Bantora Kun, as part of a project to brighten Bangladesh’s image in Japan. The project intends to specifically tackle Bangladesh’s image as a disaster-prone country, affected by both natural and man-made calamities, which is the current perception among most Japanese. Bantora is a compound word where ‘Ban’ stands for Bangladesh and ‘tora’ is Japanese for ‘tiger’, and Kun is Japanese for sibling. Bantora Kun will work as Yuru-chara, a Japanese term for mascot characters, to brighten the image of Bangladesh in Japan. Yuru-charas are created to promote a place, region, event, organization or business in Japan. Bantora Kun will promote Bangladesh, both as a country and a preferred destination for Japanese investment. Bangladesh is second to China as a garment exporter worldwide, and on the natural front, it possesses the world’s longest unbroken sea beach at Cox’s Bazar. Commerce Minister Tofail Ahmed inaugurated the mascot at a function at Pan Pacific Sonargaon Hotel in Dhaka. Bantora Kun is a joint initiative of the Japanese Commerce and Industry Association in Dhaka, a body of Japanese businessmen in Bangladesh, and Japan External Trade Organization. More than 230 Japanese companies are operating in Bangladesh at present.
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Samsung’s smartphone shipments to go up by 0.95%
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amsung’s smartphone shipments in the year 2015 are expected to increase by just 0.95% compared to 2014, according to a report out of the company’s home country of South Korea. The tech giant is projected to ship a total of 318 million units this year.
On the other hand, as per the report, Apple’s smartphone shipments are expected to touch the 230 million mark this year, a rise of 19% compared to last year. A quick look at the past few years reveals that 2012 was one of the best years for Samsung as it saw the company’s shipments increase by a whopping 131%. The number dropped to around 45% in 2013 and 0% in 2014. This compares to
Apple’s rate of year-on-year increase, which was around 50%, 13%, and 26% in these years, respectively. The report comes over a month after T-Mobile dropped Samsung Galaxy S6 and S6 edge prices by up to $200. The duo has received a price cut in Europe, too. Meanwhile, DryShips is to sell 17 of its bulkers at an impairment loss of some $795m to other entities controlled by George Economou, the
NASDAQ-listed company’s chairman and CEO reported. Thirteen capesize and four panamax bulk carriers are to be sold for a combined price of $377m. The deals include the ships’ respective employment contract and the assumption of $236.7m of debt for certain vessels (as of September 10), DryShips said. As a result, DryShips expects to post an impairment charge of around $373m in its thirdquarter Rinancial results this year.
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Sindh Excise to launch 1LINK facility for property tax KARACHI: The Sindh Excise and Taxation Department is going to introduce 1LINK facility for property tax payers from October. Sources of Excise Department told Customs Today that a state-of-the-art software will be used that will combine all the nine divisions of Karachi. After this, the remaining divisions of Sindh such as Hyderabad, Sukkur, Larkana and Mirpur Khas will be linked with this system. Sources further said that during a recently held meeting it was decided to issue notices to all property tax defaulters.
Friday, September 18, 2015
CUSTOMS BULLETIN
US cargo case: Customs judge summons jail chief over non-compliance of orders KARACHI
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he Special Court of Customs Taxation and AntiSmuggling on Wednesday summoned the Karachi Central Jail’s superintendent over his failure to conduct the medical tests of ailing suspect and submit medical reports. Judge Syed Faiz Rasool Rashdi was hearing the cases pertaining to pilferage of the US Army reverse cargo. At the outset, the counsel for suspect Muhammad Umar told the judge that despite court orders medical tests of his client were not conducted. Therefore, the court summoned the superintendent of Karachi Central Jail to explain why the court’s orders were not complied with. According to the prosecution, Directorate General of Transit Trade had lodged two FIRs pertaining to pilferage of US Army reverse cargo in 22 containers during their transit from Torkham to Karachi port. The cargo was declared to contain power generators with transformer and equipment for transit to Karachi port
for export to Dubai. When the containers were examined physically at Karachi port they were found empty. During course of ex-
amination, shipper and custom seals were found intact. However, the cargo declared in the invoice and packing list was not found in
the containers. Subsequently two FIRs were registered against bonded carrier M/s. Port Connection (Pvt) Ltd and the authorized
agents M/s Peerzada Service International, M/s Ghani’s International and M/s Multitrans Logistics (Pvt) Ltd.
KP NAB arrests former WWB officials for Rs 3.5b corruption PESHAWAR
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ational Accountability Bureau (NAB) in KPK has arrested Aizazur Rehman, former chairman of Workers Welfare Board (WWB), Muhammad Ibrar Hussain director finance (BPS-19) of the board, Muhammad Imran Wazir former director finance (BPS19), presently working as Direc-
tor Finance Provincial Housing Authority (PHA) KPK, Muhammad Akbar Awan, owner of M/s Ashraf Enterprises and Irfan Qureshi were allegedly involved in illegal award of contracts for the procurement of equipment e.g., generators, vacuum cleaners, first aid boxes, fans, fiber glass rooms, etc. through fake and non-registered firms at exorbitant rates and paid more than Rs 3.5 billion, causing losses to state exchequer. During the course of investigations, it was discovered that accused Aizazur Rehman, also
labour secretary, delegated all his administrative and financial powers to the prime suspect Tariq Awan, the then WWB Secretary, thus illegally handing him over all affairs of the board. He, in connivance with other suspects, opened a secret bank account and used it for their illegal activities. All the illegal payments to the un-registered and fake supply firms were made through this account. Similarly, Imran Khan and Muhammad Abrar, both remained director finance of the WWB, and working in con-
nivance with other suspects, issued cheques for payments to the fraudulent contractors without any due diligence thus willfully failed to exercise their authority in order to prevent loss to national exchequer. Arsalan Qureshi and Muhammad Akbar Awan, illegally secured contracts of equipment on exorbitant rates, through active connivance of the WWB officials. Some of the firms were unregistered and were without any prior experience of supply to any government department. While most of the firms were fake and
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did not have any physical existence. These contractors were hand in gloves with the suspects in causing huge losses to the government exchequer. It merits to mention here that several suspects, including Tariq Awan, Secretary WWB, have already been apprehended by National Accountability Bureau. National Accountability Bureau is actively pursuing the case and more alarming facts are expected to come up. The accused persons were presented before the Accountability Court and 12 days physical remand was granted to NAB.