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PAKISTAN’S FIRST INDEPTH NEWSPAPER ON CUSTOMS

Daily

Vol 1 Issue No. 175

Karachi, Sat September 5, 2015

HYDERABAD

ASLAM ANJUM QURESHI www.customsbulletin.com

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hief Collector Enforcement-South Zahid Khokar has visited Model Customs Collectorate Hyderabad for Qirst time after assuming charge and held meetings with ofQicials to review the performance.

During the meeting with Collector Dr Ahmed Mujtaba

Price Rs. 14.00

Memon, Additional Collector Engineer Riaz Ahmed Memon, Additional Collector Omar ShaQique, Assistant Collector Samiullah, Assistant Collector Imran Afzal and other ofQicers, the chief collector was briefed about the revenue recovery and anti smuggling activities of the collectorate.

On the other, the chief directed the ofQicials to improve the surveillance system in order to curb the smuggling in the region especially the smuggling of Iranian diesel which causing loss to national exchequer.

Faisalabad ASO impounds non-duty paid truck worth Rs 2m

TCS, Smart Zone case: Customs Intelligence submits reply in tribunal

70 agreements signed to expedite oil, gas exploration activities

LHC seeks reply from NAB in Qasim Zia case

Japanese investors keen to invest in Pakistan: Envoy

ASO Faisalabad has impounded a nonduty paid Isuzu Truck worth Rs 2m | SEE PAGE 02 |

The Customs AppellateTribunal on Wednesday resumed hearing a case | SEE PAGE 03 |

The Ministry of Petroleum and Natural Resources Thursday signed 70 | SEE PAGE 04 |

The LHC has given a last chance to the National Accountability Bureau | SEE PAGE 03 |

The Japanese companies were taking great interest in Pakistan | SEE PAGE 09 |

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Court grants protective bail to suspect involved in mega gold scam Saturday, September 05, 2015

National

KARACHI: The Sindh High Court (SHC) has granted protective bail to a suspect in five cases pertaining to the export of gold worth billions of rupees on fake customs clearance documents.

A single bench of SHC approved the bail for suspect Kashan Iqbal till September 8 with surety bond of Rs 25000 in each case. The applicant’s counsel submitted that his client had nothing to do with the alleged gold scam, however, he was shown as accused in the charge-sheet submitted to the Special Court of Customs Taxation and Anti-Smuggling.

Collector Tauseef’s Faisalabad ASO impounds truck worth Rs 2m

Record of Ismail’s clothing brand seized for sales tax evasion LAHORE

M HAYAT

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FAISALABAD

NAEEM SHEIKH

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he Customs Anti-Smuggling Organization (ASO) Faisalabad has impounded a non-duty paid Isuzu Truck worth Rs 2 million involving duty/taxes amounting to Rs 870,000.

In pursuance of information received through Model Customs Collectorate Faisalabad Collector Tauseef Ahmed Qureshi, the ASO team conducted a raid near Satiana Road Faisalabad to impound the non-duty paid vehicle.

The team intercepted a truck bearing Registration No. JU-8083 and asked the driver to show the documents regarding the payment of duty/taxes on the import of vehicle but he had failed to do so.

Therefore, Isuzu Truck has been seized under the relevant provision of the import and export (Control) Act, 1950 punishable under section 156 (1) 90 of the Customs Act, 1969.

However, the accused persons including driver namely Dilshad Ali and helper namely Mehboob Ali has also been arrested for further interrogation.

ASO team comprising Superintendent Zahid Bukhari, Inspector Muhammad Naeem, HaQiz Nisar Ahmad and Sepoy Asrar Ahmad conducted raid on the instructions of collector of Faisalabad Customs.

he Federal Board of Revenue (FBR) Regional Tax Office has seized records of Ismail’s, a famous clothing brand, as it has not got its sales tax registration thus evading tax liabilities for years, sources told Customs Today.

Sources said that the famous brand has been running at least 40 branches in various cities of the country while three branches are being run in Lahore in Panorama Center.

The sources said that on the instruction of chief commissioner RTO Waqar Ahmad, deputy commissioner Muhammad Imran and his team along with judicial magistrate Malik Shahid Hussain Awan, conducted a raid and seized more 20 computers and four laptops of the company at Industrial Estates Kot Lakhpat, Lahore.The sources added that it is expected that more than Rs 10 million sales tax may be recovered in the result of the raid.

The sources said that if the brand owners voluntarily deposit their tax liability they may get some relief in the result or FIR will registered and the responsible will also be arrested.

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Meanwhile, The Customs Investigation and Intelligence has seized a consignment of 16,270 kilogram of fabric worth Rs 4.71 million following the charges of short payment of duty/taxes and also impounded a truck being used for the transportation of the items after Qinding it nonduty paid. Sources informed that Additional Director Muhammad Ismail received information regarding the clearance of a consignment

through mis-declaration on which he formed a team to conQiscate the consignment.

The team intercepted the trailer bearing Registration No. TLB-242 near Director of Customs Investigation and Intelligence loaded with consignment of fabric. The driver was asked to produce the documents regarding the clearance of the consignment.

The driver showed the relevant

documents in which Customs Intelligence found that consignment was cleared by importer by paying Rs one million, while the actual leviable duty was Rs 1.346 million.

Furthermore, the team asked the driver to show the documents showing the legal import the trailer but he remained fail to do so. Therefore, Customs Intelligence impounded the trailer under the prevailing customs laws.

PRA’s Ayesha Ranjha seals 7 fashion outlets for tax evasion LAHORE

M IMRAN MEHAR

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he Punjab Revenue Authority has sealed seven fashion outlets in Gulberg and Defense Housing Authority during different actions.

A PRA team, under the supervision of Additional Commissioner

Ayesha Ranjha, sealed seven outlets for non-payment of taxes and for non-cooperation with the department regarding sales tax registration.

The Punjab Revenue Authority sealed outlets of famous fashion brands HSY and Ammar Belal outlets as well as five others in Lahore for tax evasion.

Sources told Customs Today that the PRA was in contact with the fashion designers for over a year regarding tax collection on their

services but these brands were not cooperating with the department.

According to sources, sealed brands and fashion outlets were allegedly involved in tax evasion of more than Rs 50 million a year. The Punjab Revenue Authority is very active against tax evaders, and in August it also sealed a number of beauty parlors as well for sales tax evasion.

PRA officials sealed Oxygen Gym and Convert Fitness in Z Block DHA, Vigour Gym, Genesis, Azhar

Fitness Centre and Synergy Health Fitness in Johar Town in August.

Meanwhile, unjab Revenue Authority (PRA) achieved revenue target of more than Rs 4.4 billion during the August, 2015 which is Rs 778 million more than collections of August, 2014 which stood at Rs 3.7 million. PRA received taxes under different heads including withholding tax from public and private sectors construction services, travel agents, manpower supplies, software and IT based system de-

velopment consultants, cargo services, auto workshops, car dealers, laboratories and fashion designers.

PRA used different sources for increasing revenue target and all out efforts were made for revenue generation. Due to effective supervision and joint team work by the administration of department, revenue target was increased from Rs 3.7 billion to Rs 4.4 billion and the process of increase in revenue target will also be maintained during next month.

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FBR issues alert to taxpayers regarding bogus emails ISLAMABAD: Federal Board of Revenue (FBR) Thursday asked the taxpayers to ignore emails being sent to them through a bogus email address.

Shahid Hussain Asad, Senior Member (Inland Revenue Policy) and spokesperson for FBR, in an official statement said that it has been brought to the notice of FBR that some taxpayers have received emails supposedly sent to them by offices of FBR. The emails are being sent from efbr_system@news-letters-4u.com which is not an official email address of FBR, he said, adding that all such emails sent from this account may be discarded and not treated as correspondence from FBR.

FBR adds 3.4 million new taxpayers to tax net ISLAMABAD

SHAHID MINHAS

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he Federal Board of Revenue (FBR) has added 3.4 million new taxpayers in the databank received from different departments while notices are issued to those people who do not pay taxes in accordance with their income.

According to sources, the FBR has started getting documentary records and other important data from different departments to bring new people to the tax net from first quarter of the current fiscal year 2015-16. Now data of at least 3.4 million people has been received from different departments and it is under review.

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Excise completes property tax survey, issues notices to 129 defaulters KARACHI

WAQAR AHMED ANSARI www.customsbulletin.com

he Excise and Taxation Department has completed its survey in West District, after which owners of a number of residential and commercial buildings were included in the tax net.

According to details, around 129 tax defaulters have been advised to pay their taxes by September 10. During the four-day survey by the Excise and Taxation Department, a number of residential and commercial buildings, plots and factories were examined and notices were issued to the defaulters on the spot. However, some defaulters were granted a month to clear their outstanding dues. According to sources, the department will also start a survey in other parts of Karachi for collection of property tax.

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Saturday September 05, 2015

National

TCS, Smart Zone case: Customs Intelligence submits reply in tribunal ISLAMABAD

M FAIZAN

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he Customs Appellate Tribunal on Wednesday resumed hearing a case involving the TCS and Smart Zone, during which Customs Intelligence and Investigation submitted its reply against the appeal of the defendants.

Now, the TCS and Smart Zone will submit their reply on the arguments presented by the Customs Intelligence. The case has been adjourned for an indeQinite period, while the hearing date would be announced in a few days.

In its reply Customs Intelligence, referring to the judgement of the Adjudication collector, stated that the department conQiscated goods – owned by Smart Zone and labelled as Afghan Transit Trade – from a TCS store. Customs Intelligence rejects the point of the TCS that it had nothing to do with the contents of the consignment.

Customs Intelligence claimed that TCS Logistics Manager Ghazenfar Gul was an employee of the courier company in Rawalpindi, who had been terminated in this very case by the TCS chief executive.

The Customs Intelligence pleaded before the court that both the Smart Zone and the TCS had failed to clear their position in the case before the Customs Adjudication, for which they had been Qined

heavily.

Meanwhile, Recently appointed Chairman Customs Appellate Tribunal, Ghulam Murtaza Bhatti, would start hearing of cases from today (Wednesday) at the headquarters in the federal capital.

Member Technical, Khalid Mehmood would accompany the chairman to hear the cases of appellants, including National Institute of Health Islamabad, expanded program of immunization (EPI),

Customs Intelligence claimed that TCS Logistics Manager Ghazenfar Gul was an employee of the courier company in Rawalpindi, who had been terminated in this very case by the TCS chief executive.

LHC seeks reply from NAB in Qasim Zia case

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he Lahore High Court (LHC) has given a last chance to the National Accountability Bureau (NAB) to submit its reply on a petition filed by PPP leader Qasim Zia who is allegedly involved in stock exchange scandal.

During the hearing, NAB counsel pleaded the court for a short adjournment, submitting that he

needed more time to present the case records. The bench accepted his request and observed it would decide the case on the next hearing. The case has been adjourned till September 7, 2015.

The petitioner, in his bail petition, had submitted that he had left the company, Ali Usman Brokerage, seven years before it committed the alleged fraud. “Qasim Zia being politically victimized,” the counsel said.

M/S TCS Private Limited, ex-chief executive TCS, Saquib Abbas and others. Directorate General of Intelligence and Investigations, customs was made respondent in the aforesaid cases.

Chairman Bhatti earlier had been serving as Membr Judicial at Lahore station.

The chairman had earlier not scheduled cases hearing as he was visiting tribunal’s benches in Lahore and Karachi, ofQicials said.

ASO impounds Mitsubishi Pajero worth Rs 1.7 million he MCC Preventive Lahore Anti-Smuggling Organization has impounded a Mitsubishi Pajero at Ghazi Road, sources told Customs Today on Wednesday.

The sources said that the Pajero was impounded by ASO inspector Sajad Bukhari on the instructions of Superintendent Mumtaz Ajmal Mian. The value of seized Pajero is Rs 1.7 million.

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Standard Chartered, ORIX Leasing sign sale-purchase pact Saturday, September 05, 2015

Business

KARACHI: Standard Chartered Bank and ORIX Leasing Pakistan Limited have reached a sale-purchase agreement for divestment of the laters shareholdings in Standard Chartered Modaraba by 20 per cent and Standard Chartered Services of Pakistan (SCSP) by 100.

The SCM stake is held 10pc directly and 10pc indirectly through Standard Chartered Services of Pakistan (Private) Limited.

Moreover, OLPL announced the amalgamation of Standard Chartered Leasing (SCLL) (86.45 per cent shareholding) with and into OLPL.

Pakistan, China determined to implement uplift projects: Mamnoon BEIJING

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resident Mamnoon Hussain on Thursday said Pakistan and China had achieved a consensus on various infrastructure and energy projects, and were determined for their effective implementation and timely completion.

The President expressed these views in a meeting with China’s Executive Vice Premier and Member of Standing Committee of Political

Rs 60b arrears: Rangers to help recover power bill dues in Hyderabad

Bureau of Communist Party, Zhang Gaoli at the Diaoyutai State Guest House here.

The President said forging greater regional connectivity through infrastructure development, energy and transnational trade was the key to prosperity and would bring economic progress in not just Pakistan and China but the entire region. He stressed the need to promote people-to-people contacts between Pakistan and China through comprehensive bilateral exchanges in all Qields as the two countries celebrate 2015 as ‘Year of Friendly Exchanges’.

President Mamnoon appreciated

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tate Minister for Water and Power Abid Sher Ali has directed the Hyderabad Electric Supply Company (Hesco) officials to gain the help from the Rangers for recovery of power bill dues.

The minister, during a meeting at Hesco office, said that 100 per cent recovery of electricity bills could be ensured with the help of the paramilitary forces.

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noon as a “veteran statesman” who was committed to promoting friendly relations between Pakistan and China.

He said Pakistan was China’s allweather friend and a cooperative partner as the two countries had a history of sincere friendship and expressed satisfaction that exemplary progress had been made in Sino-Pak relationship. He said China supports counter-terrorism operation being conducted by Pakistan government for the elimination of terrorists and expressed satisfaction over the measures taken by Pakistan for the protection and safety of Chinese personnel working in Pakistan.

Finance Minister Ishaq Dar forms committee on issue of service tax

HYDERABAD

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President Xi’s vision of ‘One Belt, One Road’ that includes the ‘Silk Road Economic Belt’ and ‘Maritime Silk Route’ and welcomed the establishment of the Silk Road Fund.

He congratulated China for establishing the Asian Infrastructure Investment Bank (AIIB).

Executive Vice Premier Zhang Gaoli thanked President Mamnoon for attending China’s commemorative events marking 70th anniversary of victory in Second World War. He said in this world full of severe challenges, China was ready to work with Pakistan and other countries to jointly advance peace.

Zhang termed President Mam-

ISLAMABAD

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inister for Finance, Mohammad Ishaq Dar here on Thursday formed a five-member committee to settle the dust arousing due to the imposition of 8 percent tax minimum on services. According to a statement issued by the Ministry of Finance, the minister

chaired a meeting to discuss important matters related to levy of 8 percent minimum tax on services.

Special Assistant to Prime Minister on Revenue, Haroon Akhtar also participated the meeting which has been made head of the committee to discuss the matter with stakeholders.

Chairman Federal Board of Revenue (FBR), Tariq Bajwa apprised the Minister that FBR has held consultative meetings with the relevant stakeholders to discuss various issues. The chairman informed the minister that various services

sectors have different financial profiles for arriving at their income and imposition of minimum tax rate sector wise. The minister said that promotion of economic activity is the main objective of the PML-N government. The other members of the committee will be Asim Zulfiqar and Ashfaq Ahmad Tola as Chartered Accountants, Naveed Andrabi, Advocate and one senior member from FBR. The minister said the committee would put forth its recommendations for resolving the issues within two weeks duration.

Value of paper-based banking transactions up by 10 percent to Rs 127 trillion KARACHI

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he Central Bank has reported 0.12 per cent decline in the volume of paper-based transactions to 361 million in fiscal year 2015 against the last years 362m transactions, however, the value of these transactions was Rs127 trillion in FY15, which reflect 10pc rise as compared to Rs115.16 trillion in FY 14. The State Bank of Pakistan (SBP), in its report titled ‘Payment System Review’, said that the paper-based banking dominates transactions despite rapid growth in e-banking. The report said, “The industry is working on the implementation of digital image-based cheque processing whereby clearing process is expected to become more efficient reducing the physical transmission of cheques in the clearing process.” Rules are also being developed for clearing house and risk management framework in settlement systems, it said.

Paper-based transactions constitute around 34pc of total retail payments.

During the fourth quarter (AprilJune) of 2014-15, nearly 92.5m transactions (Rs34.6tr) were executed using paper instruments, a quarter-on-quarter increase of 8pc in volume and 18pc in value.

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70 agreements signed to expedite oil, gas exploration activities ISLAMABAD

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he Ministry of Petroleum and Natural Resources Thursday signed 70 supplemental agreements (SAs) for conversion to petroleum concessions agreements (PCAs) aimed at expe-

diting oil and gas exploration activities in potential areas of the country. BrieQing media persons after the signing ceremony, Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said “as many as 70 SAs covering 94 leases have been executed, while remaining applications are also being reviewed and Qinalized on a fast track basis.” He said the successive petroleum policies 2001, 2007 and 2009 provided option to the existing li-

cense/lease holders for conversion of SAs to PCAs. “But no such SA could be signed which created mistrust of investors in government policies resulting in adverse impact on investment for exploration of oil and gas in the country,” he said.

He said Petroleum Exploration and Production Policy-2012, as amended in July 2013, also provided an incentive to existing licence/lease holders for the con-

version. Abbasi that said the ministry had revoked 10 licences and leases of different companies for not initiating exploration and production (E&P), while show 11 show cause notices had been served to other companies.

Director General (Petroleum Concessions) Saeedullah Shah said the incentives announced in the Petroleum Policy-2012 were not being provided to the existing licence/lease holders.

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Saturday, September 05, 2015

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KARACHI AFTAB CHANNA www.customsbulletin.com

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he Directorate of Investigation and Intelligence, Customs Anti-Smuggling after bifurcation has detected 38 cases of smuggling involving Rs 858 million during first two months (July-August) of running fiscal year 2015-16.

In an exclusive interview with the Customs Today, Director Asif Marghoob Siddiqui said that earlier the directorate, before the bifurcation, had to oversee all the issues pertaining to anti-smuggling, consignments’ clearance at ports and revenue realization.

However, now the directorate has been bifurcated into two parts and the Directorate of Investigation and Intelligence-Customs Anti Smuggling has a separate domain, while

the name of other part is Directorate of Investigation and Intelligence, Customs Enforcement.

During March 2014-June 2015, the directorate of Karachi region under the directorship of Director Asif contributed a major chunk of funds to the tune of Rs 7.906 billion to the national kitty.

It detected various cases of smuggling involving Rs 2.207 billion during the said period, Asif said, adding that the smuggled goods seized include foreign liquor, diesel, narcotics, electronic goods, black tea, cigarettes, plastic and other stuff, Asif Marghoob said.

While, the seizure of smuggled goods as compared to the same period last year i.e. March 2013 to June 2014 stood at Rs 1.038 billion, he said.

The director said that the Customs Intelligence had detected tax evasion of Rs 5.019 billion in the clear-

ance of consignments at Karachi Port Trust, Port Muhammad Bin Qasim and Hyderabad Dry Port.

“The major tax evasion cases were detected by intelligence of telecom sector including Mobilink, Zong, Pakistan Telecommunication Limited, Warid etc,” he states.

Moreover, the total tax evasion detection in the same period of past year stood at Rs 2.897 billion, he said, adding that Rs 680 million were contributed to the national kitty under heads of revenue realization in terms of auction of seized goods, on the spot recovery etc. Interestingly, the contribution remained at Rs 280 million in the same period of last year, Marghoob further added.

It is important to mention here that Director Asif Margoob assumed charge as director in March 2014 and, his department has recovered Rs 8.764 billion since then to today.

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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

Piling up loans

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A news report appearing in the media largely went unnoticed. The secretary of the Economic Affairs Division has informed the Senate Standing Committee on Finance that Pakistan obtained $11.2 billion foreign loans during the last 10 years just for debt servicing. This is a joke with the nation in the name of development. The total loan amount acquired during the decade stands at $47.8 billion whereas the country on the average has been paying $ 2.4 billion per annum to the lenders.

The meeting of the committee, which held under the chairmanship of Saleem Mandviwala, was also informed that the government has taken $ 5.2 billion loan for the development of energy sector and $2 billion loan for governance, research and statistics.

No statistics are available to question the utility of the loan under this head, but the committee demanded the government share the details of the loans to ascertain whether they were taken on merit or not. The government had taken another $2.9 billion loan to upgrade the transport and communication sector, $1.7 for natural disasters, including earthquake, $1.5 billion for education and $1 billion loan for the agriculture sector during the last 10 years.

Pakistan survived four years without any foreign assistance from 1947 to 1951 despite seriously damaged economy. The country obtained the first loan form the World Bank after Prime Minister Liaquat Ali Khan visited the United States. The country opened the floodgates of loans as a result of which every citizen of this country is now drenched in foreign debts. The problem of this country is not finance, but financial indiscipline; the problem is not economy, but the economic mismanagement; problem is not industry, but corruption and red-tape which is hindering the growth of this sector; the problem is not in obtaining loans, but imprudent usage of the loan money in non-productive sectors.

According to reports, the Senate committee has expressed no confidence over the working of seven joint working companies set up with the friendly countries. Strangely enough, the committee has asked these companies not to invest in the government securities and bonds. The committee suggested that professionals from the private sector should be engaged so that they should make efforts to attract foreign investment in the country. Pakistan is the sixth largest populated country in the world and every individual of this country needs housing, cloths and food. These are the basic human requirements which promote business and trade. The country can be turned into a paradise of business, trade and investment if the government deems the population as an asset and not as a burden.

Banking on strategic location A

LAHORE

DR AFTAB AFZAL

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ccording to the World Bank, Pakistan has vast development potentials due to its important strategic geographical location as it is situated at the fulcrum of various regions, including South Asia, Central Asia, China and the Middle East.

The bank says that the country is the center of a regional market where the population is large and natural resources are untapped with a vast potential of trade and investment. The country can reap demographic dividends with increasing proportion of workingage population but despite having all the positive indicators, Pakistan

is facing economic, governance and security challenges. The country is facing security challenges from India and from within in various regions of the country — from the tribal areas bordering Afghanistan to urban areas like Karachi and elsewhere.

The engagement of the army in various anti-terrorism operations on the western and eastern borders is the major impediment in the way of development. The poor governance is one of the major areas of concern, while the challenges of creating conducive business environment as well as the maintenance of peace and security are hindering the potential growth of Pakistan.

Pakistan has also faced natural disasters such as earthquake and

Qloods, which had ruined the rural economy, but fall of oil prices in the international market and support from the International Monetary Fund have pushed the economy to resist. The World Bank says that the country is facing persistent energy crisis, but even then the economy is showing signs of recovery driven by agriculture and services sectors.

Pakistan has recorded growth in cotton, wheat and rice crops despite the Qloods while road transportation, telecom industry, Qinance and insurance have boosted the service sector. Though the large-scale manufacturing units have shown positive growth, its volume remained below than the last year. The pharmaceuticals, electronics, automobiles, iron and

steel industries have shown good performance, but energy crisis persistently haunted the industrial sector.

As a matter of fact, quality of life has improved in the urban centers of the country, but 75 percent population in rural areas still lives below the poverty line. Unless the government introduces corporate culture in the agriculture sector, the living standard of peasants cannot be improved.

Though the corporate sector has its own merits and demerits, but it is better to follow a direction rather than setting on a journey without destination. Pakistan is blessed with intelligent minds, and it is hoped the nation will Qind a way out to extricate itself of the economic mess.

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IRSA reduces Punjab’s water share ISLAMABAD: The Indus River System Authority (IRSA) Thursday ordered to close Chashma, Jhelum Link and Taunsa Panjnad Link canals, after decreasing quantity of water by 19,400 cusecs from River Indus for Punjab province.

According to a, IRSA statement, water flow in River Indus and River Kabul has lessened because of which the authorities are reducing water from Punjab’s part. Chashman and Jhelum Link canals are witnessing 10,000 cusecs of water flow and would affect Greater Thal Canal. However, water flow in Taunsa and Panjnad Link is 11,000 cusecs.

On the other hand, Punjab government has challenged the decision of deducing water from its part only.

PBIT plans to visit Iran for promoting bilateral trade he Punjab Board of Investment and Trade (PBIT), on the directives of the Chief Minister Punjab Shahbaz Sharif, in consultation with the Iranian Consulate in Lahore organized a three-day visit to Iran.

Minister for Food Bilal Yasin will lead the delegation, while Minister for Agriculture Farukh Javed, Director General Agriculture extension Muhammad Anjum, Chairman PBIT Abdul Basit, Secretary Livestock and Industries Nasim Sadiq were part of the delegation while the purpose of the delegation’s visit was to plan the upcoming visit of the chief minister Punjab to Iran.

The delegation had meetings with General Trading Corporation of Iran, Ministry of Agriculture, Livestock, Minister for Industries Iran, Minister of Economic Affairs and Finance, and sideline meetings with the relevant business entities.

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NTC plans to introduce ‘Protection Policy’ soon: Abbas Raza hairman National Tariff Commission (NTC), M. Abbas Raza, while reacting to KCCI’s concerns expressed over extended ‘Protective Regime’ to few sectors only, informed that the National Tariff Commission, for the very first time, plans to introduce a ‘Protection Policy’ in which relevant laws and regulations will be defined to safeguard the interest of local industries. Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), Chairman NTC added that this Protection Policy will have a pre-defined timeline, starting from the concerned industry’s internship to maturity period. Chairman Businessmen Group and Former President KCCI Siraj Kassam Teli, President KCCI Iftikhar Ahmed Vohra, Senior Vice President KCCI Muhammad Ibrahim Kasumbi.

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Saturday September 05, 2015

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Japanese investors keen to invest in Pakistan: envoy ISLAMABAD

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he Japanese companies were taking great interest in Pakistan to invest in various sectors including energy and consumers goods and Pakistan need to further improve business environment by addressing issues like power shortage, infrastructure and security situation to attract more Japanese investment, observed Hiroshi Inomata, Ambassador of Japan while addressing business community at Islamabad Chamber of Commerce and Industry.

He said considering the size of both economies, Pakistan and Japan have good potential to further expand bilateral trade and Japan was trying to have broader economic relations with Pakistan. He said promotion of trade was the best option to further deepen mutual understanding between the two countries.

He said many Japanese companies were already in joint ventures in Pakistan in auto and other sec-

tors while there was great scope to establish more joint ventures between the business communities of the two countries in various areas.

He said Japan was extending cooperation to Pakistan in health, education and other sectors and will continue to support Pakistan in its economic development.

In his welcome address, Muzzamil Hussain Sabri, president, Islamabad Chamber of Commerce and Industry

said that bilateral trade of around US$2 billion between Pakistan and Japan was not up to the real potential with trade balance in favor of Japan.

He said Pakistan and Japan should focus on Qinalizing a free trade agreement and encourage frequent exchange of trade delegations that would greatly help in increasing the bilateral trade. He said Pakistan had allowed Japan to set up a Special Economic Zone and Textile City in Karachi

Nigerian market has huge potential for Pakistani products, says envoy

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igh Commissioner of Nigeria Dauda Danladi has urged the Pakistani entrepreneurs to explore the huge untapped potential exist in Nigeria.He was speaking at a meeting here at the Lahore Chamber of Commerce & Industry on Thursday. LCCI Executive Committee Members were also present on the occasion.

Nigerian High Commissioner said that low volume of the bilateral trade demands extra ordinary efforts from the businessmen of the two countries. He invited the Pakistani businessmen to enter into joint ventures with their Nigerian counterparts in the Qields of agriculture, textile and manufacturing. He said that easing of visa process between the two countries could increase the bilateral trade in shortest

possible time.

Speaking on the occasion, the LCCI President Ijaz A. Mumtaz said that Pakistan does consider the value of strengthening the trade and economic relations with Nigeria keeping in view the big market of Africa. Referring to recently concluded D8 Summit, both the sides need to make all out efforts to increase mutual cooperation for each other’s beneQits.

He said that Pakistan and Nigeria are also members of Organization of the Islamic Cooperation (OIC) and have friendly and strong diplomatic relations. Other than maintaining steady trade relations, Pakistan has been greatly contributing in fulfilling the defence requirement of Nigeria. “Nigeria is one of the major member states of

African Union. It is classified as an emerging market rapidly approaching to middle income status”, the LCCI president added. He said that the Nigerian Stock Exchange is the second largest in Africa Continent and poised to champion the acceleration of Africa's economic development.

However, this relationship has not been translated into tangible economic ties because Nigeria unfortunately does not figure prominently among the trading partners of Pakistan. Ijaz A. Mumtaz said that the downward trend in exports of Pakistan to Nigeria and overall downfall in bilateral trade is a matter of concern. “We need to find reasons of this trend and also take measures to turn around the situation”, he added.

under concessionary package and urged that Japanese companies should enhance investment in these projects. Appreciating the Japan’s interest in the Karachi Circular Railway and underground metro projects in Lahore and Karachi, he stressed that Pakistan should extend all possible assistance to Japanese investors so that they could contribute in upgrading transportation system of Pakistan according to modern needs

PPL discovers gas in Mariari akistan Petroleum Limited (PPL) has discovered gas in District Matiari, Sindh. The discovery was made at the PPL’s Fazl X-1 exploration well in Block 2568-13 (Hala) in Matiari.

The company, holder of a 65 percent operating stake in the Hala Block, said that the hydrocarbon find at Fazl X-1 is the third discovery in the area. Fazl X-1, which was spud May 29, reached the final depth of 13,343 feet (4,067 meters) Aug 12. The PPL said based on wireline logs and drilling results, potential hydrocarbon bearing zones were identified in Massive Sand of Lower Goru Formation. “During testing, the flow was 20.3 million standard cubic feet per day (MMscf/d) gas along with 50 barrels per day.

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Spanish trade delegation to arrive in Iran on Sept 6 Saturday September 05, 2015

World

TEHRAN: A 70-memebr Spanish trade delegation is scheduled to arrive in Iran on September 6 for a threeday visit to study investment opportunities in the country.

Spanish Industry, Energy and Tourism Minister Jose Manuel Soria will lead the delegation, which will consist of Spanish traders and businessmen mainly active in the field of implementing infrastructure, development and road building projects.

Spanish Public Works and Transport Minister Ana Maria Pastor Julian and Foreign Minister Jose Manuel Garcia-Margallo will accompany the delegation.

Spain was the 16th leading importer of Iranian non-oil goods during spring 2015.

Saudi Arabia arrests 1,300 drug UK Customs seizes €2 million Greek statue smugglers in past 6 months from smugglers

RIYADH

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ore than 1,300 suspected drug smugglers have been arrested in Saudi Arabia in the past six months, ofQicials have said.

The suspects include 453 Saudis and 853 foreigners belonging to 35 nationalities, local media said, quoting Ministry of Interior spokesman Mansour Al Turki.

Two suspected drug smugglers were killed and nine others injured during various security operations.

One security ofQicial also died, while 25 others sustained injuries, Al Turki said. The alleged crimes included smuggling, selling and receiving narcotics, with 11.66m amphetamine capsules, 12 tons of hashish, 13 kilos of raw heroin and 188 grams of heroin seized. A total of 703 weapons, including 52 machine guns, 584 revolvers, 67 guns

Ireland Customs seizes cigarettes, tobacco worth €38,000 evenue’s Customs Service and the Gardaí uncovered 57,000 cigarettes and over 20kg of tobacco in two separate operations in Drogheda, Co Louth, in the past week.

At Drogheda market last Saturday, officers found 12,000 cigarettes and 3.5kg of hand-rolling tobacco that was unexcised and counterfeit.

The cigarettes included MG, M&J, 777, SKs and Excellence brands while the tobacco products were Amber Leaf and Samson. A vehicle to distribute them was also seized. A van that had un-excised cigarettes and tobacco was detained in Drogheda. Officers noted that the counterfeit Marlboro cigarettes had counterfeit Irish tax stamps attached. More un-excised cigarettes and tobacco were discovered during a follow-up search under warrant of an apartment in Drogheda.

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and 28,460 live ammunition and SR16.92m also were seized. The latest tally brings to 2237 people arrested in relation to drugs in the past 10 months.

Meanwhile, Major-General Mansur Al-Turki, Saudi Ministry of Interior Security spokesman, paid tribute to the UAE authorities for

their pre-emptive efforts to foil attempts by narcotics networks to smuggle heroin into Saudi Arabia and other GCC countries. Al-Turki said that there are a solid and close cooperation between Saudi security forces and customs authorities and their counterparts in the GCC and other Arab countries.

US Customs arrests 2 suspects for smuggling $220K in cash into Mexico

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S. Customs and Border Protection ofQicers arrested two Mexican nationals for trying to smuggle nearly $220,000 in U.S. currency into Mexico, authorities said.

During outgoing inspections at the Dennis DeConcini crossing, CBP ofQicers decided to send a Dodge Ram driven by Jose Celaya Leon to further inspection. OfQicers discovered bundles of unreported U.S. currency hidden inside a box of baby wipes and arrested Celaya Leon, along with his

passenger Diana Valdez Valencia, CBP said. According to CBP, people entering or leaving the United States must tell ofQicers if they are carrying $10,000 or more in currency and must Qill out a form. Failure to do can result in civil and criminal penalties, and the money can be subject to forfeiture. OfQicers seized the vehicle and cash, and handed Celaya Leon and Valdez Valencia over to U.S. Immigration and Customs Enforcement’s Homeland Security Investigations.

British court has ordered a classical Greek statue stolen from the ruins of Cyrene to be seized from smugglers and returned to Libya. The marble statue of a woman is just over a metre high. In 2013, it was intercepted by UK Customs officials who doubted documentation that claimed it was from Turkey and worth some €72,000. Experts from the British Museum examined the sculpture and decided it was from the third or fourth centuries BC and that it had come from Cyrene. Its real value on the thriving black market in stolen antiquities was nearer €2 million.

A Jordanian national, Riad AlQassas claimed that the statue belonged to him and produced evidence from a Dubai businessman Hassan Fazeli that his family had had it in their collection since 1977.

The London magistrate’s court yesterday decided that both these claims were false. District Judge John Zani ruled that the sculpture was owned by “the state of Libya”

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and should be seized. The UK Customs said it would now set about returning the statue to its “rightful owners”.

Qassas was ordered to pay €68,000 in costs.

Ever since the Revolution the theft of historic artefacts appears to have been growing. Two years ago the Department of Antiquities and UNESCO warned that the country’s archaeological treasures were at increasing risk.

While museums have frequently been plundered, not least in the Qaddafi era, the problem with carvings and other objects dug up by thieves, is that there has been no previous record of their existence.

It is thought that the British Museum was able to identify the statue of the woman from Cyrene, in part by the local stone from which it had been worked.

In the face of the regular plunder of artefacts, the authorities score only a few victories. In 2012 the head of Flavia Domitilla, a daughter of the emperor Vespasian was seized by police in Italy and returned to Libya. It had been stolen from Sabratha museum in 1990.

Australia’s trade deficit comes at A$2.46b in July ustralia’s trade deQicit shrank in July, but the previous month’s result was revised to show a much wider deQicit than previously estimated. The trade deQicit came in at A$2.46bn in July, narrower than the $3.05bn deQicit in June, which had been revised from

the initial estimate of a A$2.93bn deQicit. It was also narrower than the A$3.16bn deQicit economists had expected. The data came as retail sales unexpectedly contracted in July. Exports increased to A$26.9bn in July from $26.29bn the previous month.

Russia, China ink deal on mutual trade projects

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MOSCOW

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ussia and China are expected to Qinalize a number of agreements on mutual projects, covering Qinance, transportation and energy cooperation as President Putin arrives in Beijing on a two-day visit.

Russia-China relations are devel-

oping rapidly and have probably “reached a peak in their entire history,” according to Putin.

Around 30 documents are planned to be signed during the visit, Putin’s aide told journalists earlier this week. The new Silk Road project (China’s proposal to establish an economic corridor with Russia and Mongolia), cooperation within the Shanghai Cooperation Organization (SCO)

and BRICS as well as preparations for the G20 and APEC summits are among the key topics on the agenda.

But the main prize remains ratifying the historic $400 billion gas deal the two countries signed last May. Under the agreement, Russia is to deliver 38 billion cubic meters (bcm) of gas to China annually over 30 years starting 2018. China has already started construction of its section of the eastern

gas pipeline route known as the Power of Siberia. The sides are currently working on an additional gas supply line, known as the western route or Power of Siberia-2 route. Last year, Putin and his counterpart Xi Jinping signed a memorandum of understanding on the new route. If implemented, the deal would make China the biggest consumer of Russian gas, importing 68 bcm annually.

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Pelindo to modernise, expand Kuala Tanjung Port to accommodate vessels JAKARTA: Indonesia’s port operator Pelindo I said it will modernise and expand the port of Kuala Tanjung in North Sumatra to accommodate large vessels.

The port of Kuala Tanjung in the regency of Batubara was originally built to serve the logistics for PT Indonesia Asahan Aluminum (Inalum).

Pelindo said construction will start this year to be completed in 2018 and it will cost around Rp4 trillion.The port of Kuala Tanjung is strategically located to facilitate shipping in the busy commercial lane of Malacca strait.

Port of Grimsby welcomes high volume of new Suzuki cars to UK

Ports & Shipping

Ajman port free zone customs to rescue stranded Indians

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he Port of Grimsby River Terminal, which opened in 2013, will receive around 37,000 new Suzuki cars by the end of this year. This figure will again mark the very high volume of new cars processed by Suzuki at the £26 million facility following a record sales year in 2014. This is thanks to record demand from customers in the UK for the brand’s growing range of affordable, stylish and high specification models. Suzuki GB PLC also has the second biggest volume of imports passing through the Lincolnshire docks out of the five manufacturers who use the logistics hub. The port on the Humber has today become the country’s leading point of entry for the automotive sector, and a major employer for the local economy. Around 250 shipping and terminal personnel are based at the facility which counts a team of Suzuki specialists who are responsible for handling the arrival of models from the automaker’s plants across the globe.

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Port of Baltimore ships 9.74m tonnes of cargo in 2015 he port’s public terminals shipped a record 9.74 million tons of general cargo in the 2015 fiscal year ending June 30, it said. That was up about 1.5 percent from 9.6 million tons in 2014.

General cargo includes automobiles, forest products, farm equipment and construction machinery. It also includes containers, a key point of emphasis lately for port officials trying to grow traffic.

Container shipping set a record of its own over the 12 months ending in June. The port shipped 808,500 20-foot equivalent units, or TEUs, during the year ending in June. The previous record for a rolling 12-month span was 794,793 TEUs, set between June 2014 and May 2015.

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welve stranded Indian sailors have been living without pay and on limited medical, food and water supplies for three months aboard a vessel berthed at the Ajman freezone.

Most of the stranded crew of Happy Success said they have not been paid their salaries for over Qive months and in some cases six. Crew members also alleged that the supply of diesel, food and drinking water has been irregular.

The vessel’s owner and director, Rohan Hede – of Hede Ferromina’s Pvt Ltd based out of Goa, India – when contacted over the phone said the company is doing everything in their power to clear the paperwork of the employees and send them back to India.

The ship’s local caretaker Cyrus Shipping Services LLC, however, said there is an ongoing standoff between the owner and its crew members, which is why they haven’t been paid for six months.

According to the stranded men,

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the owner has been unreachable.

Safaraj Khan, one of the crew said: “We have limited medical supplies in the ship. Due to the heat and lack of proper air conditioning, the men have suffered deep skin rashes. The condition onboard is very bad, people are losing their mind.”

The stranded crew members include the captain of the ship, Niranjan Das Nripendra, second ofQicer

Sarfaraj Khan, chief engineer Ananta Kumar Nandi and nine other crew members. The men have no way to communicate with the outside world and cannot afford money for telephone calls. The crew cannot exit the port premises, either.

Asia-Europe shipping freight rates for containers surge 29% hipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 per cent to US$763 per 20-foot container (TEU) this week data from the Shanghai Shipping Exchange showed. It was the second consecutive week with rises of more than 25 per cent for spot rates on the world’s busiest route but with a combined in-

Indonesia: Port of Rotterdam agrees to construct deep sea port he Port of Rotterdam Authority has signed a partnership agreement with the Indonesian Port Corporation Pelindo I in Medan, North Sumatra for the development of the new deep sea port Kuala Tanjung. The Port Authority will now carry out a feasibility study for the new port together with Pelindo I. A project organisation will be created for this purpose that will include a number of the Port Authority’s employees locally and based in Rotterdam. Depending on the outcome of this feasibility study, the Port Authority will assess whether it will enter into a joint venture with Pelindo I for the further realisation of the port. CEO Allard Castelein signed the agreement on behalf of the Port Authority: ‘We want to share our knowledge in the construction, development and management of Kuala Tanjung. We are confident that the Port Authority and Pelindo I will form a strong team that will serve the country and provide for a better future.’ Mr Castelein will take part in a Rotterdam delegation that will travel through Indonesia under the leadership of Ahmed Aboutaleb. The Mayor of Rotterdam was present during the signing and indicated that he hoped that new port will create many new jobs in Sumatra. ‘This is a good opportunity to develop new activities and to attract investors.’ The development of a deep sea port in Indonesia is consistent with the Port Authority’s foreign policy that, among other things, is focused on creating opportunities for Dutch companies abroad.

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crease of US$294 it is far from the earlier announced hike by all major container shipping companies of US$1,000. Freight rates on the route have tanked this year due to overcapacity in vessels and sluggish demand for goods to be transported. Spot rates generally deemed proQitable for shipping companies on the route are at about US$800-US$1,000 per TEU.

Container spot freight rates are normally calculated and published on Fridays but this week they were issued earlier due to holidays in China. In the week to Wednesday, container freight rates rose 24.1 per cent from Asia to ports in the Mediterranean, fell 1.7 per cent to ports on the US West Coast and were down 2.2 per cent to ports on the US East Coast.

Iron ore exports to China from Port Hedland hit record high

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BEIJING

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ron ore exports to China from Australia’s Port Hedland climbed to a record last month as suppliers increased output through the world’s largest bulk-export terminal.

Shipments rose 15 percent to 33.9 million metric tons from 29.5 million tons in July and compared with

32 million tons a year earlier, according to data from the Pilbara Ports Authority. Total iron ore exports reached 39.2 million tons, also an all-time high, from 35.3 million tons a month earlier and 37.4 million tons in August 2014, the data showed. Low-cost producers in Australia including BHP Billiton Ltd., which routes its cargoes through Port Hedland, are intent on expanding output to boost sales and cut

costs while smaller mines shut. Iron ore tumbled in early July to the lowest level in at least six years as the jump in supplies coincided with faltering demand from China. Supply will probably diverge further from demand in the coming months, Goldman Sachs Group Inc. said Aug. 14.

“The increase in Australian iron ore supply has been quite remarkable,” Ralph Leszczynski, head of research in Singapore at Banchero

Costa & Co., a Genoa-based shipbroker, said before the data were released. “They’ve managed to drive out of the market many of the smaller producers.”

Ore with 62 percent content at Qingdao increased 0.2 percent to $56.70 a ton on Wednesday, according to data from Metal Bulletin Ltd. The raw material climbed 5.2 percent in August, having bottomed at $44.59 a ton on July 8.

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Sialkot Customs collects Rs 19.8m as customs duty in eight month SIALKOT: The Model Customs Collectorate Sialkot has collected Rs 19.82 in terms of customs duty in eight months starting from January 2015 and ending on August 2015. As per details, the MCC Sialkot has surpassed the revenue collection target under the head of customs duty made by it during the corresponding period of last year to the tune of Rs 15.96 million. Official sources said that the Sialkot region had collected Rs 7.63 million as customs duty during July 2015 which is Rs 1.31 million more than the Rs 6.32 million collection of the same period of last year, 2014.

Saturday, September 05, 2015

CUSTOMS BULLETIN

Traders’ genuine leadership striving to resolve WHT issue through dialogue: Saeed LAHORE

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he real leadership of businessmen is negotiating with the government on the issue of 0.3 percent withholding tax on banking transactions thus an acceptable solution will be announced by government in this regard soon.

These comments were made by Pakistan Muslim League-Nawaz (PML-N) Traders Wing Lahore President Nasir Saeed while talking to Customs Today.

He said that so-called traders’ representatives were working on an agenda to destabilise the country and their demand that the 0.3 percent tax on non-Qiler be withdrawn at once is improper.

The genuine leadership of the traders of the country is engaged with the government functionaries and the issue will be resolve on the table, Nasir stated.

He said that Finance Minister Ishaq Dar on the instruction of PM Nawaz Sharif has taken up the issue and will address all the reservations of the traders.

“The government and traders community is on the same page

and both will work hand in hand to make the country prosperous,” he said. He mentioned that the ele-

ments among the traders who are provoking the business community will have to like the dust subse-

quently.

He said that the traders need to understand strikes are not solutions

to the problems as issues are always resolved through dialogue.

Muslin League-N traders wing has taken practical steps by forwarding its proposals and suggestions to the Federal Board of Revenue (FBR), Ministry of Finance and the time is not far away when the issue will be solved amicably, he highlighted. So called leadership that has resorted to strikes and demos against the state have no vision and idea and their agenda is to exploit the community for their vested interests, Saeed said.

“Traders’ community wants to play it pivotal role in the development of the country and make it Asian Tiger but a few elements detrack them for their own reason,” he pointed out, adding that the 0.3 percent tax is levied on the nonfilers who evade taxes and pilling up black money. “Traders issues resolved and reservations will be addressed on priority basis as PML-N leadership is working on it,” he said that genuine leadership of the traders is having a chain of meetings with Finance minister and FBR top officials on daily basis.

The issue of 0.3 percent withholding tax will be resolved as the FBR and Finance ministry both are positive in this regard, he concluded.

Customs Valuation determines value of halal chicken meat MULTAN

IMRAN ALI

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irectorate General of Customs Valuation has determined the customs value of halal chicken and turkey meat (frozen) under section 25-A of the customs vide Valuation Ruling No.757/2015.

As per details, Directorate General of Customs Valuation is-

sued prices of halal chicken meat (frozen) (H.S Code 0207.1200 & 0207.1400 were determined vide Valuation Ruling No. 700/2014.

The record of the case indicates that the importers on one hand and Pakistan Poultry Association on the other had taken diagonally opposite point of view regarding import value of chicken meat. The importer had submitted that they had purchased chicken meat (breast) frozen at $0.7/kg whereas Pakistan Poultry Association had submitted quotation from Chi-

nese exporter indicating value for skinless whole chicken at $2.37/kg and for boneless breast at $3.27/kg.

Pakistan Poultry Association had competed that further addition of freight and other charges would increase the value considerably and that the quotation did not meet the ‘halal’ specifications. Both claims could not be verified through independent resources, therefore, market survey was conducted and values were determined.

The importer filed review petition before the Director Gen-

eral Customs Valuation against said ruling. Director General Customs Valuation ruling after observing the facts carefully dropped the plea of importer for intervention with the ruling and rejected the petition.

Then importer had filed appeal against the revision order before Customs Appellate Tribunal after the dismissal of review petition. A tribunal set aside the said ruling and directed to redetermine the customs values fresh. Accordingly, an exercise was initiated to re-determine the Customs values of the halal

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chicken and turkey meat (frozen). Therefore skinless chicken whole (frozen) under PCT 0207.1200 imported from China and UAE will be assessed to duty and taxes at $1.60 per kilograms.

Boneless chicken breast frozen under PCT 0207.1400 imported from China and UAE will be assessed to duty and taxes at $2.65 per kilograms.

Skinless turkey whole frozen meat under PCT 0207.2500 imported from UAE will be assessed to duty and taxes at $2.00 per kilograms.