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Karachi, Mon April 3, 2017

ISLAMABAD

M FAIZAN

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ederal Board of Revenue (FBR) Member Operation Rehmat Ullah Khan Wazir has left for Tokyo on a two-day visit to represent Pakistan at 8th International Monetary Fund Japan high level tax conference for Asian countries.

The Ministry of Finance Japan is cohosting the conference in which international taxation will be discussed from the perspective of tax policy and tax administration.

Wazir will return to the country next week.

During the conference, participants will also discuss indirect taxation besides other tax related issues. Indirect taxes are a major

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source of income in the emerging and developing countries in the region and often a promising source of additional tax revenues.

This session will discuss the related issues of how to design efNicient and effective VATs and how to implement VATs with minimal administrative and compliance costs and will consider key issues in excise taxation.

FBR Member Operations Rehmatullah Wazir in Japan to attend IMF tax moot

Dar leaves for Dubai to lead Pakistani team in talks with IMF

FBR eyes enhanced revenue collection out of two investment policies

B’desh Customs summons ‘Prince Moosa’ for evading tax

Construction of Rs112b Border Customs Complex at Torkham started

FBR Member Operation Rehmat Ullah Wazir has left forTokyo on a two-day visit | SEE PAGE 01 |

DarhasleftforDubaitoleadPakistaniteam in the ongoing consultation with the IMF | SEE PAGE 02 |

FBReyesonhighercontributiontotheincrease ofrevenuecollectionsalongwithinclusion | SEE PAGE 04 |

BD Customs Intelligence summoned Moosa Bin Shamsher for evading tax | SEE PAGE 07 |

Collector Qurban Ali has said that practical work on construction of a Rs112 billion | SEE PAGE 08 |

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NBP achieves 12pc growth in profit LAHORE: The 68th Annual General Meeting of National Bank of Pakistan (NBP) was held on Thursday. NBP President Saeed Ahmad chaired the meeting which was attended by the shareholders. The shareholders approved financial statements and cash dividend of Rs7.50 per share as recommended by the Board of Directors of the bank. This translates into 78 percent dividend payout of the bank’s distributable profit for the year 2016 (after statutory reserve allocation). The shareholders were informed that the bank achieved 12 percent growth in pre-tax profit for the year as it increased by Rs3,925 million from Rs33,216 million for the year 2015 to Rs37,141 million for the year 2016.

Monday April 3, 2017

Business

Dar in Dubai to lead Pak team in talks with IMF ISLAMABAD

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inance Minister Ishaq has left for Dubai to lead Pakistani team in the ongoing consultation with the International Monetary Fund (IMF) under article –IV. Both parties started consultations under article IV from Tuesday last.

Pakistani team comprises representatives from the Ministry of Finance, Federal Board of Revenue (FBR), Ministry of Commerce (MoC), Ministry of Food and National Security, Ministry of Petroleum and Natural Resources, Pakistan Bureau of Statistics (PBS) and a few others.

Under Article IV of the IMF’s Ar-

CBS to provide tax relief KARACHI

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ticles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic

685 deaths occurring daily worldwide due to drug usage or overdose

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he Cantonment Board Sargodha (CBS) will reduce tax burden from the residents and all irregularities in the commercial and domestic properties to be resolved.

The CBS official said that all out efforts were in progress to improve cleanliness situation in the city. He urged people to avoid purchase of property in unapproved housing societies adding that board was also planning to include these illegal societies in the tax net.

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and Ninancial information, and discusses with ofNicials the country’s economic developments and policies. On return to headquarters, the

staff prepares a report, which forms the basis for discussion by the Executive Board. On the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities.

At the level of preliminary phase of discussions, Secretary Finance Tariq Bajwa has been heading the Pakistani delegation in the talks.

From today (Saturday) to the conclusion of consultations, Finance Minister will head the talks.

On his arrival in Dubai, Finance Minister was given a detailed briefing, by senior members of the Pakistan delegation, on proceedings of the Nirst round of talks spanning over 3 days since March 28.

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KARACHI

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s many as 685 deaths are occurring across the globe owing to drug usage or overdose which is quite higher than the deaths resulting due to terrorism.

The world’s drug economy is around $435 billion whereas about $225 billion will be required to treat drug patients globally.

These views were expressed by Joint Director of the Anti-Narcotics Force Sindh Colonel Asim during a

seminar held on Thursday.

The Department of Social Work, University of Karachi, organised the seminar on prevention of drug abuse at the departmental conference room.

The guests included Farheen Naveed from Drug Free Pakistan Foundation, Rev Julian Justin from Ibtida Drug Rehabilitation Centre, Faizullah Korejo, SSP Investigation, South, along with Professor Dr Ahmed Qadri, Dean, Faculty of Social Science, KU. Colonel Asim informed the audience that narcotics are destroying

our society and youth. According to him, global drug trade occurring from Afghanistan makes its way from Pakistan that’s why we are mostly affected with it.

“Karachi and Sukkur are the main hubs of narcotics in Sindh. The most recovered drug is hashish followed by heroin, opium and cocaine in Pakistan. Heroin drugs are even seized from juice bottles.

He also informed the audience that 59 percent of people of drug addicts in Pakistan are from the age group 20-29. Only one percent of drug addicts are graduates.

‘Restructured’ PIA starts functioning KARACHI

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he Pakistan International Airlines (PIA) has designated the newly set-up positions of departmental ‘chiefs’to nine different departments while some key slots now perform duties independently of any administrative check, and report directly to the board of directors (BoD). Documentary details available with The Express Tribune suggest that the Chief Internal Auditor (CIA) and company secretary are now discharging responsibilities outside any administrative regulations and report directly to the PIA’s BoD in an apparent bid to ensure transparency. The position of chief executive officer (CEO) functions under the oversight of the BoD even though the CEO is empowered to make key administrative decisions concerning the airline. The documents suggest that the positions of‘legal adviser’and‘general manager public affairs’report directly to the CEO and not to any department concerned. The nine departments of the national airline are being headed by the chiefs, which were previously headed by directors. As per the new arrangement, the chief operating officer (COO) heads the departments of flight operations, crew training, scheduling, security and inventory, chief pilot, central control, medical services, health services, trainings, food services and flight services.

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Gold import declines 42.75% in 8 months ISLAMABAD

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he import of gold into the country fell by 42.75 per cent during July-February 201617 as compared to same period of previous year. During the period under review 276 kilogram gold valuing US $10.312 million was imported while in same period of last year the import stood at 487 kg

worth $18.012 million last year.

On yearly and monthly basis the import of yellow metal in February 2017 also fell sharply by 53.50 per cent and 26.21 per cent as compared to February 2016 and January 2017, pointed out latest data of Pakistan Bureau of Statistics. According to the data, import of gold in February 2017 went down to $1.022 million from $2.198 million in February 2016 and $1.385 million in January

2016. The overall metal group import, however witnessed an increased of 4.25 per cent in JulyFebruary (2016-17) as it went up to $2.713 billion from $$2.593 billion in first eight months of the year 2015-16.

Iron and steel scrap import decreased by 5.11 per cent to $660.137 million in first eight months of current fiscal year from $685.143 million in same period of preceding year. The import of

iron and steel however increased to $1.322 billion in Jul-Feb (201617) from $1.125 billion in same period of preceding fiscal year thus showing an increase of 5.64 per cent. Aluminum wrought and work import on the other hand decreased by 0.11 per cent from $121.311 million in the corresponding period last year to $121.175 million this year.

On year-on-year basis the overall metal group import in February in-

creased by 7.07 per cent while on month-on-month basis the metal group imports decreased by 10.09 per cent. Similarly the import of iron and steel scrap also increased to $96.142 million in February 2017 from $87.31 million in February 2016 thus showing an increase of 10.12 per cent while on monthly basis the iron and steel scrap import decreased by 14.41 per cent as the import in January 2017 was recorded at $112.327 million.

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Monday, April 3, 2017

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ISLAMABAD

M ARSHAD

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ederal Board of Revenue (FBR) eyes on higher contribution to the increase of revenue collections along with inclusion broadening of tax base in coming years in result of two investment policies.

A large number of tax exemptions related incentives have been announced for the promotion of formal tax culture at domestic level through the facilitation of foreign companies.

“Greenfield Investment and Brownfield Investment policies are being termed as significant in this regard” an official source at FBR told Customs Today.

When asked about the significant incentives associated by the FBR to these policies, the source elaborated that the Greenfield Investment was defined as the installation of new and independent automotive assembly and manufacturing facilities by an investor for the production of vehicles of a make not already being assembled / manufactured in Pakistan.

This policy totally relates to the new investors” the source added saying that Greenfield INVESTMENT INCENTIVES

duty-free import of plant and machinery for setting up the assembly and manufacturing facility on a one-time basis.

Import of 100 vehicles of the same variant in completely built unit (CBU) form at 50% of the prevailing duty for test marketing after ground

breaking of the project has been granted” the source added saying that concessional rate of customs duty of 10% on non- localized parts and 25% on localized parts for a period of five years for the manufacturing of vehicles also included in this regard.

Similarly, the source said that import of all parts (both localized and non-localized) at prevailing customs duty were applicable to non-localized parts for manufacturing of trucks, buses and prime movers for a period of three years.

While replying to a question about Brownfield Investment policy, the source added that it was defined as revival of an existing assemant bly and manufacturing facilic fi i n sig e e h ties; that is non-operational s t e t ou o th ed ab or closed for last four years.

FBR t k s e a h t n by the d Whe t e Moreover, vehicles of that a t h a i t d oc orate trade mark are not in proe es ass b v h i a t l t s e n a ed ince u rc e n o duction in Pakistan for fi s e e d s es, th nt nt wa last four years and that e e d n m polici t e s dep nve I n i the revival is undertaken d l d g e n n fi a ri fac tu G re e n f new either independently by u o n n a o i m lat original owners or new c tion l y and instal p ro d u semb s e a h investors or under joint t e r v i o t f g o r n i o y be venture agreement with autom nvest a l re a d y an i t b o s n foreign principal or by fore i an e t t i k s l i i a k c a a m f P fa eign principal independently re d i n icles o fac tu u through purchase of plant. of veh n a m

assem

bled /

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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

Another round of talks with IMF

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ccording to newspaper reports, a team of Pakistani officials is holding negotiations with the International Monetary Fund in Dubai.The two sides are reviewing reforms introduced by the government in different sectors of the economy, especially in the energy sector. The government has briefed the IMF management on the current status of the privatization programme in line with the advice from the donor agency to sell loss making organizations in the public sector. Pakistan has successfully completed a three-year extended facility programme of around $6 billion loan. It is a matter of concern that the government is negotiating modalities to obtain further loans from various international financial organizations without making its own house in order. The financial mismanagement is on the peak and the development projects, which are started with marvelous enthusiasm, are either deliberately delayed or suspended during the course of time, causing billions of dollars losses to the national exchequer. The unfortunate part of the situation is that, no one has ever been held responsible for the loss of the national wealth. The institutions, which are set up to control corruption, have themselves absorbed in corrupt practices. At least 200 million people are living in Pakistan but the IMF team insisted to hold talks in Dubai, putting extra burden on the taxpayers’ money. The lives of the IMF officials are not precious than the lives of the ordinary Pakistanis, but the national exchequer is spent in this country without any hesitance. The government is apparently claiming a strict financial discipline to keep the budget deficit within four percent of the gross domestic product during the fiscal year 2016-17, but no austerity measures have been adopted by the government at any levels. The government is ignoring the crucial part of the governance and that is to give a direction to the nation to ensure progress not only in the various sectors of the economy, but also in the fields of education, health and social sectors. The policymakers should now start using their own brains to introduce prudent economic policies and reforms instead of fully relying on the advices of the donor agencies. Unless the government is put on the path of development through policies, the nation will continue to look towards the financial institutions for loans.

Reforms need of the hour A

LAHORE

DR AFTAB AFZAL

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ccording to a report issued by the Institute for Policy Reforms,the government policies are un supportive of the much need reforms, suggesting urgent measures not only to spur industrial growth but also enable the country to achieve macroeconomic stability.No doubt stimulation of economic activities are key to create jobs and improve living standard of the poor segment of society. The country’s exports have been dwindling for the last four years and trade deNicits are on the rise. In this age of information and technology, the policymakers are unable to even

emulate any economic model and have failed to adjust the economy to a standard level. Despite signing FREE TRADE agreements with various countries, the government has made no effort to lower the economic gap even with its regional peers. It is on the record that a South Korean team visited Pakistan in 60s to study Nive year development plan of Pakistan. They followed the plan and the current per capita income of that country is more than 22 times higher than Pakistan. The government is also facing circular debt crisis, trade deNicits.The government is trying to recover the losses by taking more and more loans.

The policymakers will have to break the routine because busi-

ness as usual is no more a viable option. As the population of the country is growing at a fast rate, visionary policies are required beyond political expediencies. Apparently, population boom is haunting the economy, but human resources are the best resources to stimulate economic activities.

People need houses, clothes and basic amenities of life and these are the basic ingredients of a vibrant economy. According to predictions by international economists, Pakistan’s economy will leave behind the economies of France, Italy and Greece by 2030.

However, the population will also increase to neutralize the effects of the economic boom. Therefore, it is imperative to launch such policies which cover every aspect

of the national economy. Corruption is rampant and money laundering is on the rise. Despite signing agreement with Swiss government, Pakistani government will not be able to bring back the national wealth. However, the government can recover the losses by introducing investment friendly policies.

Though the report of the Institute for Policy Reforms calls for steps to increase domestic savings, in principle consumer market is based on spending and not on savings. The more you spend, more will be economic activities and less you spend, less will be growth. Therefore, policies should devised by talking all the aspects of the economy into consideration.

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Hong Kong-mainland trade slumps in first month Monday April 3, 2017

World

HONG KONG: The Chinese mainland’s trade with Hong Kong totaled $19.81 billion in the first month of this year, down 18.8 percent year-on-year, according to the Ministry of Commerce. The value accounted for 6.3 percent of the mainland’s total overseas trade, the ministry’s figures show. The mainland’s exports to Hong Kong hit $19.24 billion, a decrease of 15.4 percent year-on-year, while the mainland’s imports from the region saw a sharp decrease of 65.5 percent to $570 million.

Hong Kong is the mainland’s sixth-largest trade partner and third-largest export market, according to the ministry. The mainland approved 885 Hong Kong-invested projects in January this year, with the actual use of Hong Kong capital reaching $8.42 billion, up nearly 30 percent from the same period of last year.

Bursa Malaysia trading B’desh Customs summons value rises to RM5b ‘Prince Moosa’ for evading tax KUALA LUMPUR

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DHAKA

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angladesh Customs Intelligence summoned Moosa Bin Shamsher for evading taxon his luxury vehicle.

The alleged “prince” was asked to appear before Customs Intelligence headquarters around 3pm on On March, Customs Intelligence seized a Range Rover belonging to Moosa. The car was registered under a false Bhola license plate.

According to Bhola BRTA reports, the car is registered under the name of Faruquzzaman, a Pabna resident in 2011. Intelligence sources conNirmed the car was for Moosa’s personal use. Moosa is the owner of Datco, a company that specializes in exporting manpower. However, reports often claim the source of his wealth is international arms trading.

Meanwhile, Bangladesh would re-

Dubai Customs organizes its 7th annual book fair he 7th edition of Dubai Customs’ book fair kicked off on Sunday 26th March and will last until 28th March in partnership with a number of publishing houses including Mohammed Bin Rashid Al Maktoum Knowledge Foundation, Dar Al hikma Printing, and Publishing House and Al Khamri Publishing House.

Ahmed Mahboob Musabih, Director of Dubai Customs inaugurated the book fair at Dubai Customs’ headquarters. He toured the fair and viewed the latest publications in all fields released by participating publishing houses. He pointed out that the fair is a good chance to encourage employees read more. The book fair, organized by Dubai Customs Library, has a good selection of books of all fields that suit all age categories and different backgrounds. –CB Report

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quest Russia to simplify their customs procedure and allow duty-free access of more products from the country to their market during an upcoming visit of a Bangladesh delegation to Moscow, ofNicials said.

They said Bangladesh has the potential to increase its exports to Russia and other Commonwealth of Independent States (CIS).

But the country could not increase its export at the desired level

to those countries due to their complex customs procedures, according to the ministry of commerce (MoC).

At present, Russia provides tariff preference to 48 items, including jute and jute goods, shrimps, tea, silk and rice, etc. A high-powered delegation comprised of government ofNicials and businessmen will visit the Russian Federation and CIS soon, a high ofNicial at the Export Promotion Bureau (EPB) told press.

7 Irish companies sign agreements with French partners

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he Irish manufacturer of multidirectional forklifts based in Monaghan, signed a contract with KingNisher, Europe’s largest home improvement retailer worth an additional €1 million to deliver 50 Aisle-Master forklifts to the company during 2017.

The contract signing was witnessed by Leo Varadkar Minister for Social Protection and Geraldine Nason-Byrne, Ireland’s Ambassador to France during an Enterprise Ireland

trade visit to France last week.

A further six Enterprise Ireland clients – Novareus, Ecowash, Ding, Vigitrust, Xintec and Gaelectric also signed contracts last week.

Waterless car-wash company, Ecowash signed a contract with Transpoco, a leading provider of Nleet management solutions and Ding, the world’s largest mobile topup network signed a contract with Sigue France, a leading global money transfer company. –CB Report

ursa Malaysia capped the week on a strong note as trading value surged to RM5bil, the highest since 2016, powered by funds buying of banks, Axiata and Petronas Chemicals after a positive outlook from Credit Suisse Research.

At 5pm, the FBM KLCI was up 8.06 points or 0.46% to 1,745.20 – about the highest since May 2016 but off the day’s best due to the retreat among the key Asian markets.

Trading volume on Bursa was 4.98 billion shares – a surge from the average three billion over units done each. Trading value was RM5.03bil, reNlecting the better quality of buying. Advancers beat decliners 591 to 368 while 359 counters were unchanged.

Credit-Suisse Research believes

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the 45-month 34% US dollar underperformance of Malaysian equities (20% in local currency terms) was warranted but has now reached an end game. In a recent research report, it said it had now turned constructive on Malaysia.

Key Asian markets retreated.

China’s main stock indexes fell on Friday, posting their worst day since last December, as investors await fresh evidence of a sustainable recovery in the world’s second-largest economy.

Meanwhile, on the currency front, the pound sterling rose for the third day running against the dollar on Friday for the Nirst time since mid-January, drawing conNidence from signs some at the Bank of England may be leaning toward a rise in interest rates to support the currency. The ringgit rose 0.06% against the US dollar to 4.4355 from 4.4383. However, the local unit fell against the pound, sliding 1.17% to 5.5042 from 5.4403, weakened 0.26% against the Singapore dollar to 3.1676 from 3.1594 and lost 0.67% against the Euro to 4.7857 from 4.7539.

Ikea profits dip despite record revenue KEA last year sold around 2.5 million meatballs at its Dublin store as the Nirm enjoyed a record year of revenues at its Ballymun outlet. The Swedish furniture giant conNirmed that it had three million visitors to its store off Dublin’s M50 in the 12 months to the end of August last year spending a record €152m.

The three million visitors spent an average of €50 each at the store and the revenues of €152m – or almost €3 million a week – represent a 15pc increase on the revenues of €131.9m in the prior year. The three million visitors also represent an increase of 15pc on the 2.6 million

that visited the store in 2015. The revenues made from the sale of Ikea’s 2.5m traditional Swedish meatballs or “Kottbullar” in Swedish made up only a small portion of the €152 million in revenues as the public’s love affair with IKEA’s Expedit shelving unit and Lack tables continued. The record revenues however did not translate into higher proNits as pre-tax proNits decreased by 10pc to €11.84m.

The drop in proNit arose from administrative expenses increasing by 30pc going from €29.6m to €38.6m with cost of sales going up from €87.37m to €100.3m. –CB Report

Singapore not importing rotten meat from Brazil: AVA

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SINGAPORE

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he Republic of Singapore is not affected by the rotten meat scandal that has hit world’s biggest exporter of meat and poultry, the Agri-Food and Veterinary Authority of Singapore (AVA) said on Monday, reassuring consumers that

imported meat and meat products from Brazil are safe for consumption.

None of the 21 meat-processing establishments placed by the Brazilian Ministry of Agriculture, Livestock and Food Supply under a special surveillance regime are approved to export to Singapore, the authority said in a statement. On Friday, Brazilian police revealed that a two-year probe found that major meatpackers had

bribed 33 health inspectors to keep rotten meat on the market, with earlier media reports stating that some of the bad meat was exported to Europe. Although NTUC FairPrice had earlier said it imports poultry from two suppliers investigated by the Brazilian authorities, none of the affected establishments which packed the meat exported its tainted products to Singapore. The two holding

companies under investigation are BRF, which owns the Sadia and Perdigao brands, and JBS, owner of Big Frango and Swift brands. The AVA also reassured the public that it has a two-level accreditation process, which assesses the robustness of an exporting country’s national animal health and food safety, as well as the authorities’ power to enforce food safety requirements.

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Faisalabad customs impounds 179 tyres valued Rs716000 FAISALABAD: The Directorate of Customs Intelligence and Investigation Faisalabad foiled a bid to smuggle tyres worth Rs716000 from Peshawar to Faisalabad and arrested one of the accused smugglers. Sources told Customs Today that on the directions of Director General Operations Shouqat Ali, a team, comprising of Customs Intelligence officials including Superintendent Zahid Raza Bukhari, Muhammad Saleem, Muhammad Siddique Intelligence Officer, and Sepoys, intercepted a Mazda mini truck with registration No: FDS-4377 near Gutt Wala Toll Plaza, Sheikhupura Road, Faisalabad.

Monday, April 3, 2017

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Construction of Rs112b Border Customs Complex at Torkham started PESHAWAR CUSTOMS BULLETIN REPORT www.customsbulletin.com

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ollector Qurban Ali Khan has said that practical work on construction of a Rs112 billion mega state-of-the-art Border Customs Complex at Torkhem to enhance regional trade with Afghanistan and Central Asian Republics (CARs) has been started.

The Peshawar collector disclosed this while talking to businessmen of KP during his visit to Sarhad Chamber of Commerce and Industry (SCCI). Speaking on the occasion, Qurban Ali said the Project Management Unit (PMU), constituted for execution of the project, has opened its ofNice in Islamabad and Peshawar to kick start implementation work.

The stipulated period for completion of the project is two years, he added. “The Asian Development Bank (ADB) is providing $300 million loan for execution of the project on soft term basis to Pakistan,” he told the businessmen.

The project also include construction of similar border complexes at Wagha post on Pak-India border and at Chaman in Balochistan, he said, adding that presently work on Torkhem is started.

“The state-of-the-art border complex is being constructed at Torkham to improve facilities related to clearance of goods laden trucks crossing border to

Afghanistan and CARs.” The complex covering 700 kanals land would comprise Customs and immigration ofNices, two-way Customs and immigration terminals,

checking and scanning plazas for pedestrians, passenger and cargo vehicles with other infrastructure, Qurban Ali added.

The collector said that the com-

plex would be the Nirst of its kind in the country, which would make border crossing systematic, fully computerized and augment the trade volume on the historic route.

CIR files tax reference in SHC against M/s Engro Fertilizer Ltd KARACHI

M B RANA

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ommissioner Inland Revenue Zone – I Large Taxpayers Unit (LTU) approached the Sindh High Court (SHC) challenging impugned order of the appellate tribunal over recovery of Rs335,691,694 in respect of sales tax from M/s Engro Fertilizer Ltd. According to the details, coun-

sel of the applicant stated in its tax reference that taxpayer is engaged in the business of manufacturing and supplies of locally manufactured fertilizer. A show cause notice was issued to it for recovery of sales tax of Rs335,691,694 along with default surcharge and penalty under section 11 (2) 34 and 33 of the Sales Tax Act 1990.

Being aggrieved, taxpayer approached commissioner Inland Revenue Appeals-I which directed it to pay said amount, however, appellate tribunal Ninely passed an order in the favor of said taxpayer.

Citing M/s Engro Fertilizer Lim-

ited as respondent, applicant pleaded the court may set aside impugned order of the appellate tribunal and restore its order.

Meanwhile, The Sindh High Court (SHC) directed the tax authorities not to cause any harassment to the petitioner who should be dealt with in accordance with the law on a constitutional petition Niled by Muhammad Measum against the alleged harassment by tax authorities.

A two-member bench, headed

by Justice Aqeel Ahmed Abbasi, was hearing the petition.

During the hearing, assistant

directorate audit, directorate of I&I-FBR Karachi, submitted that since no FIR has been registered against the petitioner whereas petitioner has already filed an appeal before the Commissioner Appellate IR which is pending for disposal therefore apprehension of the petitioner is misconceived, however it has been stated that no harassment will be caused to the petitioner who will be dealt with in accordance with law. The petitioner does not press instant petition if respondents restrain from taking any coercive action against it.

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi

After the hearing, court disposed of the petition with the direction that respondents may be directed not to cause any harassment to the petitioner.

Earlier, counsel for the petitioner stated that it is an import/manufacture of plastic molding plastic product which is exempted from payment of Sales Tax on raw materials at the import stage for local manufacturing, however officials of the tax department misused the SRO 670 (1)/2013 and are threatening the petitioner with registration of a tax evasion case.