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Vol 1 Issue No. 319

Karachi, Fri April 1, 2016

KARACHI

AFTAB CHANNA

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ollowing the recent unexpected shutdown of customs computerized clearing system (WeBOC), the Federal Board of Revenue (FBR) is looking to hire new Internet facilities at its Data Centre in Custom House, Karachi. According to sources, on the directions of the FBR, the Directorate of Reforms and Automation (Customs) has invited bids from reputed sales tax and income

Price Rs. 14.00

tax registered internet service providers to hire Internet facilities, including Internet bandwidth upto 60 Mbps at 9th Ploor, Data Centre, Custom House, Karachi. In this regard, Directorate of Reforms and Automation (Customs) has issued tender notices inviting sealed bids for the new internet Pirm which can provide exclusive internet bandwidth to support WeBOC/One –Customs.

The Directorate mentioned in the notice that the new Pirm will be required to provide services and installation and delivery within in two weeks from the date of signing of contract.

Customs Intelligence recovers smuggled goods worth Rs 62m until March 28

Sialkot Anti-Smuggling Organization steps up efforts to curb smuggling

Bosan for improving agri production system on scientific lines

Faisalabad ASO seizes smuggled items worth Rs 11.9m in March

13th My Karachi exhibition kicks off at Expo Center

DG of the Customs Intelligence has stepped up its campaign to curb smuggling | See pAge 02 |

Customs ASO Incharge Assistant Collector Fahad Bashir has said that surveillance | See pAge 03 |

Bosan has stressed the need to improve agriculture production system on scientific | See pAge 04 |

The ASO has seized smuggled items amounting to Rs 11.9m during March | See pAge 12 |

Ali Malkani, while welcoming KC effort to promote positive image of the city | See pAge 09 |

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IHC directs LTU to decide fate of appeal filed by M/s PTCL within 60 days Friday, April 1, 2016

National

ISLAMABAD: The Islamabad High Court (IHC) has directed the Large Taxpayer’s Unit (LTU) to decide the fate of appeal filed by M/s Pakistan Telecommunication Corporation (Private) Limited, seeking tax exemption on its business profit under provisions of domestic and international taxation rules to avoid double taxation.

The appellant had submitted that business profit being generated after its collaboration with a Singapore based partner did not owe taxation twice under the international law and agreement between two republics. It had challenged the LTU order number 79 dated October 21, 2013 creating demand of duty taxes.

Customs intelligence recovers smuggled goods worth rs 62m

Appraisement registers cases of rs 581m against pak Telecom LAHORE

m HAYAT

ISLAMABAD

m FAiZAN

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he Directorate General of the Customs Intelligence and Investigation has stepped up its campaign to curb smuggling .

Sources informed Customs Today that Customs intelligence started anti-smuggling campaign from February 17, while the authorities registered 119 cases of smuggling until March 28 and recovered an amount of Rs 62 million during the period.

The seized items includes cigarettes, black tea, foreign origin cloth, species, electronics items, LEDs, blankets, and vehicles. Customs authorities Rawalpindi recovered smuggled items worth Rs 7 million during the month of February, March and registered six cases of smuggling. Sources said that Director General Customs Intelligence and Investigation Imtiaz Ahmad Khan taking keen interest to curb smuggling across the country.

Meanwhile, The Directorate General of Customs Intelligence and Investigation has decided to end the joint operations against smuggling with the cooperation of Model Customs Collectorates Preventive and limited the cooperation to information sharing only, it is learnt here.

The Customs Intelligence took

he Customs Appraisement has registered four cases amounting to Rs 581 million against M/s Pak Telecoms Mobiles Limited involving Rs 189.898 million duty and tax evasion. Official sources told Customs Today that information was received that M/s Pak Telecom Mobile, a telecommunication service provider in collusion with their clearing agent, has allegedly evaded a huge amount of customs duty and other taxes on import and clearance of telecommunication infrastructure equipment in the grab of networking equipment. The equipment include LAN bridges, hubs, switches and repeaters through mis-declartion of PCT as 8517.6970 attracting 1 percent customs duty against the actual PCT 8517. 6290 chargable to customs duty at the rate of 20 percent. The sources said it has been discovered that the company has evaded huge amount of duty, taxes on account of mis-declaration against the imported equipment. It was added that the customs authorities registered four cases against the company valuing Rs 581 involving duty and taxes of Rs 189.898 million.

this decision to split off from the customs collectorates following the shortage of staff in the directorates.

When Rawalpindi Additional Director Muhammad Saleem was contacted seeking authenticity of the news, He informed that Customs Intelligence has a handful Pield staff that was lesser than the collectorates in quantity.

A joint operation against smuggling was launched on February 17,

206 in which the Pield staff of intelligence had to perform their duties round the clock, resulting in damaging the health of ofPicials, he said.

He added that Customs Preventive has more Pield staff than intelligence, as only Islamabad Customs has about 60 Pield ofPicials, while the Customs Intelligence was working with only 8 to 10 ofPicials in same region. On the other hand, the Customs Intelligence ofPicials who have

been conducted joint operation told that they have been working about 24 hours for many weeks that caused of severe health issues. They added that director general has been informed in this regard as they are unable to perform duties all the day. After making consideration, the Customs Intelligence has reached this decision, as the joint operations were affecting the performance of the department, sources said.

Appraisement west re-distributes work among officials C

KARACHI

AFTAB CHANNA

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ustoms Collectorate Appraisement West has re-distributed work among assistant and deputy collectors with immediate effect and until further orders.

According to a notiPication issued

by Additional Collector-I Zeba Azhar, Deputy Collector Syed Babar Ali Shah will look after Group-II (Ch 28-38), Recoveries, WeBOC role for

printing cheques, DC level adjudication and adjudication of Afghan Transit Legacy cases.

Deputy Collector Mahmoodur Rehman Khattak will look into the Group-III (Ch 39-49), Audits (external and internal).

Deputy Collector Muhammad Aftab will look after Group-IV (Ch 50-70), import section, temporary imports, transshipments, pre-audit.

Deputy Collector Muhammad Shahzad Khan to look after Group-V (Ch 71-83), DC refund (on note

sheet), bonded warehouses (public/private), FTA Cell, ADRC and licensing. Deputy Collector Ms Lubna Shamshad assigned AICT & BOML (examination and auction), inter port movement and Federal Tax Ombudsman. Assistant Collector Umair Mahmood SIddiqui to look after West Wharf (examinations and auction), coordination with KPT and terminal operators.

Meanwhile, The Customs Collectorate Appraisement West has issued a demand-cum-show cause no-

tice to M/s Ch Mazhar and Brothers for short recovery of Rs 79,136 on import of PVC Trunking Duck.

On scrutiny of the released consignment, it was observed by the Internal Audit Department Custom House that M/s Ch Mazhar and Brothers imported consignments consisting of PVC Trunking Duck for clearance thereof claiming benePits of SRO 659(I)/2007 dated 30.6.2007, sources told Customs Today. Whereas the scrutiny of consignment reveals that the item at S

No 1 the benePit of SRO 659(I)/2007 dated 30.6.2007 is not admissible which resulted in short recovery of Rs 79,136 on account of customs duty. The show-cause notice says, “You are therefore, served with this notice to pay the recoverable amount of duty and taxes in terms of Section 32(3) of the Customs Act, 1969 within 7 days from receipt of this notice as to why the amount demanded should not be recovered from you. Your reply should reach on or before 2.4.2016.”

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FBR seizes record of cloth brand Elan for Rs 50m sales tax evasion LAHORE: The Regional Tax Office (RTO) of the Federal Board of Revenue (FBR) has seized record of famous brand of women cloth Elan for sales tax evasion of Rs 50 million.

Sources told Customs Today that the brand is owned by creative director Khadija Shah, daughter of former caretaker federal minster minister Salman Shah. The record has been seized by Commissioner Sadaf Gillani Lahore region.

It was reported that earlier the brand outlet was seized but the court extended relief to the brand as the lawyer of the brand was able to convince that the office that seized the record had no jurisdiction over the outlet.

Friday April 1, 2016

National

DC Amjad Aman recovers cellular phones worth rs 3.4 million KARACHI

AFTAB CHANNA

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ustoms Collectorate Preventive, under the leadership of Deputy Collector, Arrivals, Jinnah International Airport Karachi, Amjad Aman Leghari foiled a bid to smuggle 328 cellular phones worth Rs 3.4 million. According to details, the staff of the Pakistan Customs posted under the supervision of Deputy Collector Amjad Aman Leghari arrested two passengers namely Arshad and Shariq and recovered 328 cellular phones worth Rs 3.4 million from them. The suspects had arrived from Dubai by Emirates Airline Flight No EK-604. The recovered cellular phones were cleverly concealed in LCD TV panels/casing.

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FBr seeks list of non-filers from rTos LAHORE

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he Federal Board of Revenue (FBR) has directed Regional Tax Offices to finalize lists of tax defaulters. According to details, Federal Board of Revenue (FBR) has directed all concerned chief commissioners of RTOs in this regard. Source told Customs Today that after receiving the lists of non-filers, the FBR will remove the names of non-filers from the Active Taxpayers List (ATL) and they will have to pay 0.6 percent withholding tax. Source said that the FBR authorities are also considering taking measures for non-filers in case they will avoid to clear pending tax dues. Source said that the FBR authorities are also considering taking measures for non-filers in case they will avoid to clear pending tax dues.

The FBR will take strict action against tax defaulters.

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Sialkot ASo steps up efforts to curb smuggling SIALKOT

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ustoms Anti-Smuggling Organization (ASO) Incharge Assistant Collector Fahad Bashir Chaudhary has said that surveillance has been stepped up on Sialkot Airport Road and GT Road to curb smuggling of Indian items in guise of Kashmir trade.

He added that all these measures have been taken following the directions of Sialkot Customs Collector Ahmad Reza, adding that the ASO teams were performing their part efPiciently in order to save the national economy and local markets. It may mention here that ASO teams under the supervision of Assistant Collector Fahad established check posts on the roads where every vehicles, including passenger buses and trucks were being checked. The ofPicials were also warned the drivers that stern actions will be taken against the accused person, if anyone found involved in the transporting of non-duty paid items.

Meanwhile, The Customs Collectorate has issued rebate cheques amounting to Rs 320 to various exporters who belonged to Sialkot, Gujrat and Gujranwala.

Assistant Collector Zahid Bashir Chaudhary told Customs Today that the process to clear refund claim up to Rs 5 million will be completed before March 31. Customs Collector

Ahmad Reza is taking keen interest in the clearance of the pending amount of rebate refunds to exporters without any further delay.

He said that the exporters of Small Medium Enterprises (SMEs) will take benefit from this process of rebate refund. He said refund claims upto Rs 5 million will also be cleared soon. He hoped that payment of rebate claims will encourage business community to further speed up their trading activities.

ASo teams under the supervision of Assistant Collector Fahad established check posts on the roads where every vehicles, including passenger buses and trucks were being checked. The officials were also warned the drivers that stern actions will be taken against the accused person, if anyone found involved in the transporting of non-duty paid items

Court rejects plea to interrogate Ayyan ISLAMABAD

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pecial Customs Court Judge Rana Aftab Ahmed Khan has rejected the plea to grant more time to investigate super model Ayyan Ali in money laundry case Piled by Customs Intelligence. According to details, during hearing of the case, the custom’s counsel prayed the court that to allow more time to Customs Intelli-

gence authorities to investigate Ayyan Ali in money laundering case. Ayan’s counsel Sardar Latif Khosa argued before the court that there is no need for further investigation of his client.

After hearing the arguments from both sides, the court gave its judgment in favor of super model Ayyan Ali and rejected the application to grant time for further investigations.

Meanwhile, The federal government has asked the Supreme Court of Pakistan to set aside the Sindh High Court’s verdict of removing Ayyan

Ali’s name from the Exit Control List (ECL). The SHC ordered the Ministry of Interior to immediately remove the name of Ayyan Ali from the ECL on March 07. However, the operation of the judgement was suspended for a period of 15 days in the interest of justice in response to federation’s request in the matter. Federal Interior Ministry Piled an appeal in the apex court against the SHC decision submitting that soon after placing Ayyan’s name on the ECL she was properly sent a notice.

Meanwhile, The Anti-Smuggling Organization (ASO) has recovered Indian origin red chilli and cloth worth Rs 800,000 from a truck. Following the directions of ASO incharge Assistant Collector Zahid Bashir Chaudhary, Inspector Sheikh Muhmmad Ikram along with his team established a check post on the Airport Road. The team intercepted a truck coming from Azad Kashmir and recovered red chilli and cloth.

Sialkot Customs seizes non-duty paid Toyota Vitz he Customs Intelligence and Investigation has impounded a non-customs paid car during a routine checking on roads. Sources informed Customs Today that Director Customs Intelligence Muhammad Anwar deployed a team on GT Road to check nonduty paid vehicles and curb smuggling.

During the routine checking, Inspector Majid Raza intercepted many vehicles .

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Chinese company to install 132kV underground circuit Friday, April 1, 2016

Business

KARACHI: A Chinese company will install a 132kV underground electric circuit from Queens Road Grid Station to Old Town Grid Station.

K-Electric has signed a contract with Xian Electric Engineering Company China for $3.3 million project, which will be completed in one.

According to the company spokesman, the contract cements KE’s commitment and its investment plan, whereby the power utility will invest in its generation, transmission and distribution network, adding, “This bodes well for customers through enhanced reliability and reduction in fault ratio for respective areas.”

pSX rebounds 217pts to cross 33,000 mark KARACHI

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he Pakistan Stock Exchange (PSX) Thursday surged by 66 per cent or 216.60 points to cross psychological barrier of 33,000 mark and reached 33139 points level at closing.

The stocks recorded the highest trading level of 33189.03 points and lowest level of 32910.47 points, with the volume of 164 million shares, having about Rs9.72 billion value. As many as 327 companies were active; of which 185 advanced, 122 declined and 20 remained unchanged. Power generation and distribution was the top traded sector

power tariff reduced by rs 4.36/unit ISLAMABAD

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he National Electric Power Regulatory Authority (Nepra) has approved Rs 4.36 per unit r eduction in power tariff for February 2016. The authority also expressed its displeasure with the Central Power Purchase Agency (CPPA) for producing costlier electricity from the imported re-liquefied natural gas (RLNG), instead of exploiting cheaper fuel. The adjustment/relief will be available to the domestic consumers in entire Pakistan, except in Karachi.

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with 21,767,800 volume, while cement remained second with 20,154,000 volume.

The three top traded companies were K-Electric Ltd with a volume of 19,339,500 and price per share of 7.11 (0.10), TRG Pak Ltd with a vol-

ume 15,676,500 of price per share of 28.39 (0.57), Pak Elektron with a volume 9,933,000 of price per share of 60.25 (-1.26). The top three gainers were Nestle Pakwith price per share 7035 (335), RaPhan Maize XD with price per share of 7499 (174)

and Bata (Pak) price per share of 3500 (140). The top three losers were Fazal Cloth with price per share of 121.12 (-6.35), Suraj Cotton with price per share of 114.97 (6.03) and Colgate Palmo per share of 1475 (-5). Earlier, the stocks started day with bullish note and added 80.25 points to cross 33,000 mark and reached 33002.65 points level in early trading. The PSX surged by 32 per cent or 106.05 points to reach 33028.45 points level till midday. On Wednesday, the PSX witnessed Pluctuation in trading and lost most of the early gains, but remained in green zone with 42.73 points surge to reach 32922.40 points level at closing. As many as 312 companies were active; of which 167 advanced, 122 declined and 23 remained unchanged.

Bosan for improving agri production system on scientific lines ISLAMABAD

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ederal Minister for National Food Security and Research, Sikandar Hayat Khan Bosan has stressed the need to improve agriculture production system on scientiPic lines to enhance sustainable food production.

He said that agriculture sector contributed 23 percent of GDP whereas around 45 percent of the work force was directly or indirectly

dependent on agriculture for its livelihood. The minister was addressing at inaugural session of a conference and exhibition on Agriculture Dynamics in Potohar Region 2016 organized by OfPice of Research Innovation & Commercialization (ORIC) of Pir Mehr Ali Shah Arid Agriculture University Rawalpindi (PMAS-AAUR) in collaboration with State Bank of Pakistan. He highlighted the importance of developing new products and technologies to promote agriculture sector and said that there was dire need for promoting the agri sector by concen-

trating on crop enhancement, livestock, Pisheries and dairy sectors development by creating linkages with industry. Highlighting the importance of water availability in the country, the minister said that development of water reservoirs and dams in Pakistan was need of the hour. He informed that Pakistan was the 5th largest producer of milk and stressed the need for focusing on value addition of agricultural and dairy products for proPit maximization. He informed that there was a lot of potential in the region of potohar for fruit industry.

pakistani delegation to finalise gas pipeline project in iran TEHRAN

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Pakistani delegation will visit Iran to finalise the agreements on gas pipeline project made during the Iranian president’s visit to Pakistan. National Iranian Gas Exports Company (NIGEC) Managing Director Alireza Kameli said that the initial agreements were made over negotiations between the Iranian petroleum minister and Pakistani officials during a recent visit by Iran’s President Hassan Rouhani and some of his cabinet members to Islamabad.

“In the negotiations, it had been agreed that Pakistan’s delegation would visit Iran soon to finalise the agreements, so that the export of Iranian gas to Pakistan could begin,” IRNA quoted the official as saying. On Saturday, the Iranian president told reporters in Islamabad that a pipeline had already been completed on the Iranian side. Rouhani said this had put the Islamic Republic in a position to provide its southeastern neighbour with natural gas within only a few months. While Iran has completed its part of the project with a total investment of over $2 billion, Pakistan has fallen short of the target to take delivery of the gas, initially scheduled for 2014.

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368% higher than 2013’s: NBp posts 51% increase in profit LAHORE

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he National Bank of Pakistan has announced to achieve an exponential 51 per cent growth in pre-tax proPit as it increased to Rs 33.2 billion in 2015 from Rs 22 billion of year 2014. This is a complete turnaround from year 2013; and is higher by 368% from 2013. The results were announced

during the bank’s 67th annual general meeting, which was attended

by Chairman Muneer Kamal and President Syed Iqbal Ashraf and the shareholders. The increase in proPit before tax is mainly derived through 17% growth in core net interest/ mark-up income, and 15% growth in non interest / mark-up income.

To mitigate the impact of the policy rate cut, the Bank managed its earning assets portfolio-mix in an optimum manner. It was presented to

the shareholders that the improved results were achieved through effective execution of strategies which encompass improving deposits mix for higher net interest income, portfolio optimisation and re-proPiling, cost controls, business automation and expansion in branch network.

The bank also focused on recoveries against non-performing loans.

The Board of Directors in its meeting held on February 19, 2016, had proposed a Pinal cash dividend of Rs

7.50 per share (75%) for the year ended December 31, 2015.

This translates into 92% dividend payout of the bank’s distributable proPit for the year 2015 (after statutory reserve allocation) and is among the highest in the banking industry.

Higher dividend payout rePlects bank’s strong capital position with continuous focus on increasing stakeholder value by capitalising on opportunities to drive strong performance for the organisation and even

higher payouts to the shareholders in the years ahead. Meanwhile, Delay in construction of Kalabagh Dam has cost over Rs 132 billion per year, said former Wapda chairman Shamsul Mulk. He said this while addressing a seminar organised by Pakistan Engineering Congress. “For twenty years, the search for acceptable alternatives has been pursued, and this search has led Pakistan to a gloomy darkness of electricity loadshedding, closure of factories.

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he Federal Board of Revenue (FBR) is going to launch a new campaign to bring almost all the potential taxpayers in the tax net from April 1.

Through this move, the FBR expects extra revenue collection of several billion rupees.

The potential taxpayers have been identified through information gathered through different reliable national institutions.

Sources told Customs Today that Broadening of Tax Base (BTB) had been directed by one of the key officials of the tax authority to bring almost all the potential taxpayers into tax net.

In this regard, the source said that BTB had gathered entire required data of potential taxpayers along with record of their financial activities in the last few years.

BTB possesses the travel history as well as procurement of vehicles of the targeted potential taxpayers. Main portion of potential taxpayers comprises on traders community.

This data has been collected from the revenue board, registration authorities, airlines, travel agencies, chain of shopping malls and several others sources of this kind. The source added that top brass of FBR was of the view that voluntary tax compliance scheme (VTCS) had not produced required and desired results in expanding the tax net. Therefore, they tended to collect data of the potential taxpayers to start a new move for broadening of tax net. Most of the evaluated taxpayers are likely to argue with the tax authorities that their income does not fall in the category of taxpayers.

Therefore, under the new initiative, the taxpayers will be contacted for submission of due tax amount and in case of denial, the concerned authorities will present concrete evidences for ascertaining their ability for falling in the category of taxpayers. The concrete evidences available with the concerned authorities base on the life style, travel history, sale purchase of land, vehicles as well as their other activities related to economic and financial expenditures. In

this regard, FBR’s higher hierarchy also expects a lot of litigation moves from the possibly targeted taxpayers, therefore, adequate and appropriate measures have also been taken to counter the confronting taxpayers in the judiciary.

xpects also e y h c r e ra rom th f er hie s h e g i v h s, on mo FBr’s itigati ed taxpayer l f o t t e a lo g ly tar e and possib re, adequat e also o hav theref asures e m he e nter t priat appro aken to cou in the been t g taxpayers ntin ry confro judicia

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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

Trade policy framework

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ccording to newspaper report, the government has approved the budgetary allocation of Rs 6 billion to implement the trade policy initiatives for 2015-16. Prime Minister Nawaz Sharif has approved a three-year Strategic Trade Policy Framework after over a year of extensive deliberations with a majority of stakeholders in the public and private sectors. The main thrust of the policy is on export sector and an ambitious target has been set to enhance annual exports up to $35 billion in three years.

Many economies in the world are heading fast towards economic development and the new policy framework has been devised keeping in view the modern trends in global market. The policymakers have consulted the chambers of commerce, industrial organizations, trade associations, academia and think tanks in the formulation of the framework. According to reports, the government has also tried to remove procedural and budgetary bottlenecks in the policy framework to achieve the target.The government has identified four key areas of concern in the trade policy framework which include diversification of products, eective marketing strategy of the locally made value added goods, institutional development and steps to enhance trade volume. Another short-term strategy has also been devised under the policy framework to enhance exports and an amount of Rs2 billion has been set aside for the next four years. The country has bravely faced the challenges of terrorism, extremism, natural calamities, political and economic instability and now it is coming out of all kind of crises. As a matter of fact, economy is strongly linked with security and an army action against terrorists is heading toward its logical end. The present political leadership has the mandate to rule until 2018, but constitutional steps are required to ensure continuity of the present government policies no matter which political party comes to power in future. Various projects of vital importance have been launched which need to be protected.It is hoped that the government will be able to devise and implement an eective trade policy to enhance the country’s exports which have considerably decreased for the last some time.

Pakistan has vast potential to engage in joint ventures with other countries and for the purpose, business to business contact with foreign investors is a must.

reality about macroeconomic indicators F

LAHORE

Dr AFTAB AFZAL

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inance Minister Ishaq Dar has claimed that macroeconomic indicators are showing a modest growth of 4.24 percent in the gross domestic product during the current Piscal year. The lower oil prices in the international market has resulted in the decline of consumer price index at 2.48 percent during July-February 2015-16 as compared to 5.45 percent in the same period last year. The large-scale manufacturing sector has recorded a growth of 4.12 percent and the government is likely to set a growth target of 5.5 percent for the next Piscal year. The tax collections have

increased by 17.2 percent during July-February 2015-16 while credit to private sector has been expanded by more than 100 percent during nine months of the current Piscal year. The rising volume of machinery import indicates that development activities are picking up with increased consumption of electricity and gas in the industrial sector. The government has increased the public sector spending to Rs700 billion.

On Piscal side, the current account dePicit has come down to $1.859 billion during July-February 201516 from $1.947 billion last year, thanks to stable exchange rate, increase in foreign exchange reserves and positive growth in the volume of remittances by expatriate Pakistanis, which have reached

over $20.5 billion in the Pirst 20 days of this month. The total foreign direct investment in the country has reached $647.9 million as compared to $619.6 million last year while the indicators of debt sustainability have also improved.

The State Bank has lowered policy rate to 320-basis-point, which has led to doubling of the credit disbursement to private sector during the current Piscal year. However, despite the fact that all the all micro and macroeconomic indicators show positive signs of development, why the exports are declining and why the government has to consult the International Monetary Fund and donor agencies for bail out packages is a question which needs an answer. Apparently, the government has failed to cover all

aspects of the economy. There is no doubt in the good intention of the Pinance minister, but his team of experts lacks vision and velour to modernize the economy. The countries like Vietnam are progressing with leaps and bounds, but the economic managers in Pakistan are grappling in the dark not knowing exactly what to do and where to go. Pakistan, the 40th largest economy in the world in nominal terms and 26th largest in terms of purchasing power parity, seems to be always at a cross road.

Until and unless the government overhauls the bureaucratic system and its policymakers agree to learn from the experiences of other nations, the country will continue to face consequences of uncertain and confused policies.

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Dubai Chamber unveils future growth strategy DUBAI: Dubai Chamber held a key meeting with foreign diplomats to promote the emirate as a preferred destination for business as well as to open new doors for constructive cooperation with global businesses.

During the annual Diplomatic Circle Dinner at Burj Al Arab Hotel in Dubai, the chamber highlighted its past achievements and threw some light on its future directions.

The meeting came in line with the chamber’s strategy to strengthen relations with the diplomatic corps while establishing economic partnerships between their respective countries’ companies and those operating in Dubai. It was attended by over 140 diplomats, in the presence of Dubai Chamber board members led by chairman Majid Saif Al Ghurair, the second vice-chairman Hisham Al Shirawi besides its president and CEO Hamad Buamim.

iCCi, Bank Alfalah hold seminar on islamic banking he Islamabad Chamber of Commerce and Industry in collaboration with Bank Alfalah have organized an seminar to create awareness about Islamic banking among the business community. Dr Mufti Khaleel Ahmed Azmi, the Bank Alfalah Sharia Board chairman, gave a detailed lecture to the participants about the importance of Islamic banking. He said that conversion to Islamic banking is beneficial for business and investment activities. He said that Islam prohibits interestbased banking, but fully supports and encourages savings and invest-

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ment, adding that business activities can be promoted by using Shariamode of financing. He said that there were three modes of financing in Islamic banking viz. equity-based financing, trade-based financing and rental-based financing and explained their key features. He said business community could use these financing modes to meet the needs of working capital and other funding requirements of their businesses. He said many blue chip companies were now meeting their financing needs through Islamic banking products and Islamic banking was now accounting for 12-13% of total banking in our country which showed its good growth. He said Islamic banking offered all types of products to meet the needs of trade and industry and they should avail these Sharia-compliant banking products for promotion of their business ventures. In his opening remarks, Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry stressed for creating maximum awareness about Islamic banking.—CB Report

Friday April 1, 2016

Chambers

13th ‘my karachi’ exhibition kicks off at expo Centre S

KARACHI

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indh Minister for Industries and Commerce, Muhammad Ali Malkani, while welcoming Karachi Chamber’s effort to promote positive image of the city through My Karachi Exhibition, said that peace has prevailed in the city thanks to Karachi Operation under the supervision of Sindh government. The situation was much better as compared to what it was in the past when curfews, strikes, killings and other crimes etc. were a routine. Although the federal government committed to grant billions of rupees when Karachi Operation started but to date, they have not granted anything and the Operation was being carried out from Sindh government’s own resources, he added while speaking at the inauguration ceremony of 13th My Karachi-Oasis of Harmony Exhibition 2016 at Expo Center.

Deputy Speaker Sindh Assembly Shehla Raza, Sindh Minister for Environment and Coastal Development Authority, Dr. Sikandar Ali Mandhro, Vice Chairmen Business-

men Group & Former Presidents KCCI Tahir Khaliq, Zubair Motiwala and Anjum Nisar, President KCCI Younus Muhammad Bashir, Senior Vice President KCCI Zia Ahmed Khan, Vice President KCCI Muhammad Naeem Sharif, Chairman Special Committee for My Karachi, Muhammad Idrees, Vice Chairman Shamim Ahmed Firpo, Former Presidents KCCI AQ Khalil, Haroon Agar, Abdullah Zaki and Iftikhar Ahmed Vohra along with Diplomats from

numerous countries and KCCI Managing Committee members were also present on the occasion. Referring to concerns expressed by President KCCI over poor performance and lack of resources in Police Department, Muhammad Malkani admitted that the Sindh government was well aware of the issues and was trying to resolve the same. He said that the Sindh government has been struggling really hard for its rights, including the province’s right to its

Suraj Vaidya to head SAArC Chamber

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ISLAMABAD

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n an exhilarating ceremony in Kathmandu, Suraj Vaidya, was appointed as the president of SAARC Chamber of Commerce and Industry (SAARC CCI) for two years from 2016-17.

An old hand at the SAARC CCCI, Suraj Vaidya, has formerly been appointed the chairman of the SAARC Tourism Council, during which he worked for the promotion of tourism in South Asia.

Prior to this highly prestigious appointment, Suraj Vaidya steered SAARC CCI as the acting president in 2015. In a symbolic gesture, he accepted the SAARC CCI Presidential PIN from former president Vikramjit Singh Sahney. This signiPies that the mantel has passed from one country to the other. Present at

the presidential ceremony were the Prime Minister of Nepal, K.P. Sharma Oli and the Deputy Prime Minister of Nepal and Minister for Foreign Affairs, Kamal Thapa. Both the leaders expressed their conPidence and satisfaction at the taking over of new responsibilities of Suraj Vaidya and his team. Deputy Prime Minister of Nepal expressed conPidence that private sector of South Asia under the leadership of new president will achieve new milestone and expected more dynamicity in SAARC CCI as an important organization.

Meanwhile, Frederic Verheyden, Ambassador of the Kindgom of Belgium said that his Embassy was mulling over the prospects to bring a Trade Mission to Pakistan for exploring new avenues of promoting business relations between Belgium and Pakistan. He visited Islamabad Chamber of Commerce and Indus-

try along with Abid M. Husain Trade Commissioner and Shaukat Nawaz Niazi Trade & Commercial OfPicer, Embassy of Belgium.

The Ambassador said that textiles products accounted for 75% of Pakistan’s exports to Belgium and stressed that Pakistan should think beyond traditional products to improve trade with Belgium. He said many Pakistani products including pharmaceuticals, surgical equipment, leather and fruits have the potential to Pind good market in Belgium and private sector of Pakistan should accelerate its efforts to expand horizon of cooperation with Belgium. He said Belgium was cooperating with Pakistan in energy sector which was a major constraint for its economic growth and stressed that Pakistan should focus on controlling its transmission and distribution losses to improve energy situation.

own resources and allocation of more funds by federal government for development work but unfortunately, it seems that the federal government was more focused on carrying out development work in Punjab only and has been ignoring Sindh. Despite limited Pinancial resources, Sindh government has undertaken development projects and they were standing shoulder-to-shoulder with the business community of Karachi and the people of Sindh.

Afghanistan third largest trade partner of pakistan fghanistan is the third largest trade partner of Pakistan with $5 billion volume of official and unofficial trade. This was stated by Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) Chairman Muhammad Zubair Motiwala, while speaking at a conference jointly organised by the PAJCCI and the Punjab Board of Investment and Trade (PBIT) to discuss the prospect of increasing and improving trade relations between the two countries.

Motiwala discus the prospect of the current trade situation between Pakistan and Afghanistan and called upon both nations to increase trading activity. —CB Report

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Turkish iron ore imports decline sharply in Jan Friday April 1, 2016

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ANKARA: The latest data released by the Turkish Statistical Institute (TUIK) suggests that the country’s iron ore imports dropped sharply during the month of January 2016. The imports during the month totaled 599,226 tons, down considerably by 28% when compared with the imports during the same month a year ago. The Turkish iron ore imports had totaled 599,770 tons during January 2015. The value of iron ore imports by the country during January this year amounted to $37 million. The import value of iron ore by Turkey has dropped sharply by over 58% when matched with the previous year.

The largest supplier of iron ore to Turkey during Jan ’16 was Brazil. The imports from Brazil totaled 190,603 tons, accounting for nearly 32% of the total imports by the country during the month.

Four maldivians arrested in SLanka for drug smuggling COLOMBO

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our Maldivians who tried to smuggle three kgs of heroin to Sri Lanka were arrested by the neighouring country’s police on Saturday, Sri Lanka media has reported. Police Media Spokesperson ASP Ruwan Gunasekara was quoted by a Sri Lankan newspaper who said police arrested a Maldivian couple who tried to smuggle three Kg of heroin outside the airport as a result of a long term investigations with the Maldivian authorities in order to thwart the ongoing narcotics trade between Sri Lanka and Maldives.

The couple had packed the heroin in their bags. After interrogation of the couple, two more Maldivians were arrested.

The Police Spokesman said this was a drug ring run by Pakistan, Sri Lanka and Maldives nationals.

Dubai records 4% economic growth in 2015 ubai’s economy emerged resilient and witnessed growth of around 4 per cent in 2015 despite global challenges created by the drop in oil prices, the economic uncertainties in Europe, China and Russia, and weak global demand for commodities. This was stated by Dubai Chamber of Commerce and Industry president and chief executive officer Hamad Buamim in his address to a large number of diplomats based in the UAE on Monday evening. “.. at the end of 2015, the growth was somewhere between 3.5 and 4.5 per cent,” Buamim informed. Trade, tourism and financial services helped boosted the growth, he added. The Dubai Statistics Centre (DSC), last week said, Dubai recorded 4.5 per cent growth during the first nine months of 2015 compared to same period in the previous year.—CB Report

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“We have further interrogated these suspects and arrested three more Sri Lankans, including the Sri Lankan ring leader,” he said.

“Our department has been sharing information with the Maldivian authorities and we have been working together to completely destabilise the Maldives-Lanka drug network. We have been successful in arresting a number of Sri Lankans and Maldivians involved in this network,” he said.

Meanwhile, Sri Lankan President Maithripala Sirisena today said he will appoint a special committee to submit recommendations to provide solutions to the issues pertaining to the Sri Lanka Customs Department and to streamline the works of the Department. Meeting with Trade Union representatives of the Sri Lanka Customs Department at the Presidential Secretariat, Wednesday (09), the President promised to provide possible solutions to the issues after consultation with the relevant ofPicials.

Three arrested as €120,000 drugs haul seized in Dublin DUBLIN

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ardaí netted an estimated €120,000 worth of cocaine and cannabis and arrested three people during searches in Dublin on Monday.

Members of the Drugs and Organised Crime Bureau arrested two men, aged 35 and 49, after a planned search of a car on Camden Street yielded a large haul of cocaine thought to have a street value of €20,000. In a follow-up operation, gardaí discovered cannabis with an estimated street value of €100,000 at a house in nearby Ranelagh.

A 27-year-old woman was arrested at the scene and was subsequently taken into custody at Irishtown Garda station.

Members of the South Central Crime Task Force and the Donny-

Bangladesh to import coal from indonesia, Australia

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angladesh is holding discussion with Indonesia and Australia for importing coal to set up coal-Pired power plants. The sources said the government planned setting up of a number of coal-Pired power plants across the country to increase the power generation capacity to 34,000 MW by 2030 under the Power System Master Plan (2010-2030). To set up a coal-Pired power plant in Payra, Patuakhali the government will sign an engineering, procurement and con-

struction (EPC) contract tomorrow According to ofPicials sources, the Payra 1320-MW Thermal Power Plant would be established in Patuakhali under a joint venture initiative with Chinese Exim Bank’s Pinance.

The Payra coal-Pired power plant would generate 1320 MW electricity from 2019,” Director General of Power Cell Mohammad Hossain said. He said the Bangladesh-China Power Company (Pvt) Limited (BCPCL), a joint venture Pirm of Chinese.—CB Report

brook Drugs Unit also assisted in the operations, aimed at tackling the sale and supply of narcotics in Dublin’s south inner city.

Meanwhile, Three people have been arrested after €55,000 worth of heroin was seized in Dublin last night. The drugs were discovered

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when Gardaí searched two flats in the Dolphins Barn of the South Inner City late last night. Two men in their 20s and a woman in her 40s were arrested during the operation.

They are currently being held at Kevin Street and Kilmainham Garda Stations.

Novartis settles bribe claims

wiss drugmaker Novartis said yesterday that it has reached a deal with US authorities to pay US$25 million to settle claims that its Chinese units bribed health care professionals to boost sales, including with family trips to Niagara Falls.

The drug giant agreed to pay the hefty Pine “without admitting or denying” guilt, according to documents published by the US Securities and Exchange Commission.

According to the SEC Pindings, Novartis’s China-based units had between 2009 and 2013 “provided things of value” mainly to doctors and other health care professionals.

“These payments took varied forms and were intended to increase sales of Novartis pharmaceutical products,” said an SEC document. The market regulator said health care providers were for instance invited on expensive trips, which in many cases “did not include an educational purpose or the scientific/educational components were minimal in comparison to the sightseeing or recreational activities.” In 2009, Novartis subsidiary Sandoz China for instance paid for 25 health care workers to take part in a surgical conference in Chicago.—CB Report

Hk Customs seizes cocaine worth Hk$1.6 million

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HONG KONG

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s the campaign against illegal drugs intensiPies, drug smugglers are adopting new ways to transport their illegal goods into Hong Kong, and the latest is to disguise them as canned luncheon meat. Before they used “drug mules”

or people who either carry the drugs in luggage or swallow them in plastic or rubber containers to get past through customs checkpoints undetected. But since numerous attempts using this method have been foiled by airport authorities, crime syndicates are trying new ways to carry on the trade, such as by hiding the contraband in food and other daily necessities as well as in musi-

cal instruments, Tang Yi-hoi, deputy commissioner of the Customs and Excise Department, told Apple Daily.

They now also tend to use several people at a time in the form of a relay to carry the drugs to their destination, Tang said. Last month customs ofPicials seized 1.5 kilograms of cocaine hidden in Pive cans of luncheon meat that belonged to a foreign woman who arrived in Hong

Kong from Brazil by way of Dubai.

The drug haul was estimated to be worth HK$1.6 million. According to data from the department, 105 drug trafPicking cases were intercepted in the Pirst two months of the year, down from 126 in the same period in 2015. However, the volume of drugs seized rose to 222 kilograms from 176kg a year ago, with that of cocaine jumping 2.5 times.

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Port Edward urges approval of LNG project LONDON: Seventeen ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin-Can Island Ports in Lagos from March 24 to April 18.

The Nigerian Ports Authority (NPA) stated this in its publication – `Shipping Position’ on Thursday in Lagos. NPA explained that the expected ships contained buck wheat, bulk charcoal, bulk sugar, general cargo, containers, diesel, petrol and Rubber Tyre Gantry (RTG) crane. The document noted that eight ships had arrived the ports, waiting to berth with petrol, base oil, aviation fuel, butane, Aviation Turbine Kerosene (ATK). According to NAN, 17 other ships are at the ports discharging general cargoes, bulk gypsum, diesel, bulk fertiliser, steel products, bulk gas, fuel oil and petrol.

Nepal signs deal to gain access to Chinese ports n a bid to shift away from heavy dependence on India, Nepal on Monday signed an agreement with China to use transit facilities for third country trade by using the ports of the northern neighbour. However, poor infrastructure on the Nepali side, difficult geographical terrain and without the reach of Chinese train up to Nepali border in Kerung (Gyirong in Chinese side) the only trading point between Nepal and China at present Nepal may not be able to avail itself of the Chinese port facilities immediately in Tianjin. Seamless use of Chinese facilities could start in 2020 at the earliest, when the Chinese rail network is scheduled to reach Kerung, according to officials. Tatopani, another NepalChina trading point, that has remained closed since the April 25 earthquake is yet to open, and there is no official confirmation from the Chinese side whether it will ever open it up.

According to Reuters news agency, after a meeting between Prime Min-

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ister KP Sharma Oli and his Chinese counterpart Li Keqiang in Beijing’s Great Hall of the People, Hou Yanqi, deputy head of the Chinese Foreign Ministry’s Asia Division, described the rail connectivity as a “longer-term plan”. “Of course, a further extension from Gyirong is an even longer-term plan. It’s up to geographic and technical conditions, financing ability. We believe that far in the future the two will countries be connected by rail,” she was quoted as saying. During the meeting, PM Oli requested China to build three rail lines-one connecting three of Nepal’s most important cities, other crossing the border from China into Nepal, and a monorail in Kathmandu.—CB Report

Ports & Shipping

Transportation department to build 15 new ports in NTT

Friday April 1, 2016

oman’s port of Duqm Company, Duqm Ahlia sign 25-year land deal ort of Duqm Company (PDC) and Duqm Ahlia Development have signed a 25 year land lease agreement for a 5 hectare plot in the Port of Duqm concession area. It is an important milestone in the further development of the activities for both companies in the Sultanate. Dr. Ahmed bin Mohammed Al Futaisi, Minister of Transport and Communications, Chairman of the Board of Directors of the PDC said in a statement that this agreements comes within the framework of supporting the local community through Duqm Ahlia Development. On the Port of Duqm in general. Dr. Al Futaisi pointed out that the works at the port are constantly progressing as the first three months of 2016 witnessed an increase in the activity of ports of Duqm, Sohar and Salalah comparing to the same period last year. He explained that such remarkable increasing activity of the Omani ports reflects the continuity of trade activity despite the oil prices slump. For Port of Duqm, the agreement is very important as Duqm Ahlia is the first company, which will provide warehousing and general logistic services in the Duqm Port logistic area, including trucking and customs clearance activities for a multiple of industries. The plot is strategically positioned in close proximity to the Port’s commercial quay from where the majority of the goods will be imported and re-exported.—CB Report

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JAKARTA

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he Transportation Ministry is completing 15 port constructions throughout East Nusa Tenggara (NTT) province to support the inter-island connection in NTT and create easier accesses for trading. Head of Bureau and Public Information for Transportation Ministry J.A. Barata said the presence of these 15 ports could move and improve the local economic society as well as to press down interregional price disparity.

“With the completion of these 15

ports in NTT, the central and local government can develop sea transportation for passenger and freight transport,” Barata said in a press conference on Monday, March 21, 2016.

The ports will be named Kandidi Reo, Potta, Atapupu, Larantuka, Papele, Lamakera, Waiwerang, Terong, Komodo, Wuring, Palue, Ba’a, Naikliu, Maurole, and Kolbano port. The developments of these ports are one of Ignasius Jonan’s commitments to engineer connectivity throughout Indonesia as expected by the President.

Not only in NTT, the Transportation Ministry has also completed the development of Baubau Port located in Bau-bau City, Southeast Sulawesi during 2008-2015, with a total investment of Rp268 billion which was

derived from the ministry’s budget.

Meanwhile, The Agency for the Assessment and Application of Technology (BPPT) has established cooperation with Japan’s Port and Airport Research Institute (PARI) to address coastal degradation and port development in Indonesia. BPPT said that coastal degradation is one of the issues being faced by Indonesia, besides the issue of inter-islands logistic distribution, which include port management. Wahyu Widodo Pandoe, BPPT’s Director of Maritime Industry Engineering Technology Center revealed a number of points highlighted in the memorandum of understanding, among others, coastal degradation prevention study and Subang port study.

China to allow Nepal to use its ports

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KATHMANDU

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hina will allow landlocked Nepal to use its ports for trading goods with third countries, a senior ofPicial in Kathmandu has said, potentially ending India’s decades-long monopoly over the impoverished country’s trading routes.

A prolonged blockade of its border crossings with India last year by protesters demanding changes to a new Constitution left Nepal desper-

ately short of fuel and goods, throwing into sharp relief its dependence on routes into its southern neighbour. Nepalese Prime Minister K.P. Oli signed an agreement with his Chinese counterpart, Premier Li Keqiang, during a visit to Beijing this week to give Nepalese traders access to land routes and ports in China, Commerce Ministry ofPicial Rabi Shankar Sainju said.

“This is a historic agreement for Nepal,” Mr Sainju told Reuters. “This cannot be an alternative to the Indian port but it is an additional

route to boost our trade.” The routes and ports that Nepal, sandwiched between China and India, can use will be decided by ofPicials from Kathmandu and Beijing soon, he said. China is vying to increase its inPluence in Nepal, challenging India’s long-held position as the dominant outside power. Beijing this week also agreed to consider building a railway into Nepal, supply petroleum products and to start a feasibility study for a free trade agreement. Nepal, still trying to recover from two devastating earthquakes

last year, adopted its Pirst postmonarchy Constitution in September, hoping that this would usher in peace and stability after years of conPlict. But protesters blocked trucks coming in from India, leading to acute shortages.

Nepal blamed New Delhi for siding with the protesters, a charge that India denied. Nepal currently uses the eastern Indian port at Kolkata for trade but ofPicials said this has become congested. India has offered to allow Nepal use of a second port.

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Multan Customs issues licence for duty free shop at Multan airport MULTAN: The Customs Collectorate has issued license to operate a duty free shop at Multan International Airport.

The Customs Collectorate has approved the application submitted by M/s Zainab Limited Islamabad for issuance of a license to operate duty free shop at the airport. The Multan International Airport lacks duty free shop after its establishment and inauguration in 2015. The Customs Collectorate Multan has discussed the issuance of duty free shop at Multan International Airpor with Federal Board of Revenue.

Friday, April 1, 2016

CUSTOMS BULLETIN

Faisalabad ASo seizes smuggled items worth rs 11.9 million in march FAISALABAD NAeem SHeikH

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he Customs Anti-Smuggling Organization (ASO) has seized smuggled items amounting to Rs 11.9 million during March and registered cases against smugglers. Sources told Customs Today,Deputy Collector Rana Falik Shair seized smuggled goods which include non duty paid tampered vehicles used for smuggling of goods, Indian tea, tyres tube, smuggled cloth and other miscellaneous items. Sources said that during various anti-smuggling campaigns ASO team recovered these smuggled items. The ASO team asked accused persons to produce legal documents regarding possession of these items but they failed to provide any relevant documents in this regard.

Collector ZulPiqar Ali Chaudhary hailed to performance of ASO and directed them to work more devotedly to curb smuggling.

Meanwhile, The Customs AntiSmuggling Organization (ASO) has seized smuggled items to the tune of Rs 4.94 millions during March and also registered Pive cases during the said period. Sources told Customs

Today that Deputy Collector Rana Falik Shair seized non-duty paid vehicles and others goods, used for

transportation of the smuggled items. Sources said that the seized items include non-duty paid vehicle

used for transportation and were brought into country without payments of customs duty and taxes,

smuggled cloth, auto spare parts, electronic goods and others miscellaneous goods.

Saleem memon asked to pick officer for iDeAS 2016 committee KARACHI

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he Deputy Collector, Customs Collectorate of Appraisement West, Mahwish Shah, has requested to the Additional Collector Appraisement West, Muhammad Saleem Memon to nominate the ofPicers for the Pirst steering committee meeting for IDEAS, 2016.

According to sources the Pirst

steering committee meeting for IDEAS, 2016 will be held on 30th of March 2016 (today) at Expo Center Karachi. In this regard, the Additional Collector Appraisement West, Muhammad Saleem Memon will nominate the ofPicers who will represent the Pakistan Customs in the Pirst steering committee meeting for IDEAS, 2016.

The meeting will be attended by representatives of Ministry of Foreign Affairs, Ministry of Commerce, Interior Ministry, Ministry of Information, Ministry of Ports and Shipping, Government of Sindh, Pakistan Army, Pakistan

Navy, Pakistan Air Force, Federal Board of Revenue, Pakistan Rangers, Sindh Police, Trade Development Authority of Pakistan, Pakistan Customs, Civil Aviation Authority, City District Government Karachi, Press Information Department and the event manager of the exhibition. The 9th International Defence Exhibition and Seminar IDEAS-2016 is scheduled to be held at Karachi Expo Centre from 22nd to 25th November 2016. IDEAS 2016, being the most strategically important event of the region, will once again bring together all the industry’s players

across the globe to showcase the latest technological innovations.

The 4 days of the Show are exclusively for trade visitors and high ofPicial defence delegates. During the meeting, departments responsible for various activities during IDEAS-2016 will give detailed presentation. Meanwhile, Customs Collectorate Appraisement West has re-distributed work among assistant and deputy collectors with immediate effect and until further orders. According to a notiPication issued by Additional Collector-I Zeba Azhar, Deputy Collector Syed Babar Ali Shah will look after

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Group-II (Ch 28-38), Recoveries, WeBOC role for printing cheques, DC level adjudication and adjudication of Afghan Transit Legacy cases.

Deputy Collector Mahmoodur Rehman Khattak will look into the Group-III (Ch 39-49), Audits (external and internal). Deputy Collector Muhammad Aftab will look after Group-IV (Ch 50-70), import section, temporary imports, transshipments, pre-audit. Deputy Collector Muhammad Shahzad Khan to look after Group-V (Ch 71-83), DC refund (on note sheet), bonded warehouses (public/private), FTA Cell, ADRC and licensing.