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Karachi, Thu August 24, 2017

ISLAMABAD

M FAIZAN

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Project Management Unit (PMU) has been formed in the Federal Board of Revenue (FBR) to supervise and complete the border services project in time. According to the details, the Rinancial cost of the unit is included in PC-I. At the border crossing point level, the National Logistic Cell (NLC) will act as Project Implementation Unit (PIU) to supervise day to

day activities and assist the FBR for timely completion of the project. The PMU project director in FBR has been given full financial and administrative powers with technical, financial and safeguards management staff hired from the market on compatible salary packages and the sub PMU will be headed by a project coordinator at BCP level to carryout functions at site on behalf of PMU and coordinate with the PIU for smooth implementation of the project. At sub PMU and the PIU level, technical expertise

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will be augmented through hiring project management consultants who will be recruited outside and attached to PIU at each border crossing point. The overall responsibility for delivery on safeguards management rests with FBR as enforcement through PMU and PIU’s to be established at FBR and Border crossing points. The existing capacity of PMU and PIU is reviewed and the institutional arrangement available and to be put in place for delivery on safeguards management and preparation.

ASO impounds 5,800 kg smuggling fabric & offending vehicle

DG Valuation to revise VR No. 703 & 704/2014 today

ASO seizes 625 mobile phones, accessories from Shera Kot

Ishaq Dar challenges court’s verdict on Panama Papers

Customs Hyderabad generates Rs418.329 million revenue

ASO Islamabad confiscated 5,800 kilogram of foreign origin high quality fabric | See pAge 02 |

DG Valuation has decided to revise the Valuation Rulings No: 703/2014 | See pAge 03 |

ASO in pursuance of information, seized 625 mobile phones | See pAge 04 |

Dar challenged the SC verdict against him in Panama Papers case | See pAge 11 |

The MCC Hyderabad has received Rs418.329million revenue | See pAge 16 |

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FBR rebuts news reports about non-credit of online refunds Thursday, August 24, 2017

ISLAMABAD: The Federal Board of Revenue (FBR) rebutted a news report appearing in a section of the press claiming the online transfer of Rs23 billion sales tax refund to the claimants/exporters had not been initiated despite lapse of eight days after the announcement. The announcement for refunds was made by Finance Minister, Mohammad Ishaq Dar on August 8, 2017, a press statement issued by the board here said. The board clariﬁed that a sum of Rs23.858 billion was to be electronically transferred to the claimants/exporters in July and August 2017, as per commitment of minister for ﬁnance and revenue as made in his budget speech.

Islamabad

ASo impounds 5,800 kg smuggling fabric & oﬀending vehicle

ISLAMABAD

NAeM uLLAh tArIQ

tArIQ DerYA

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ustoms Appellate Tribunal dated in office the hearing of famous Ayyan Ali’s money laundering case on Wednesday, directing counsels to prepare for arguments. A division bench of the tribunal comprising Chairman Justice (r) Manzoor Hussain and Ziauddin Wazir heard the case. The bench would rehear the matter tomorrow. Ayyan Ali had filed a petition with the Customs Appellate Tribunal for early hearing of her restored appeal, challenging an announcement about money laundering of $500,000 in March 2015. Ayyan Ali’s counsel Sardar Latif Khosa counsel argued that his client was innocent and also submitted that the department had no sufficient evidence to prove that money black money was being laundered. He asked the tribunal to set aside the announcement made by the customs court. The bench then dated in office the hearing. Khosa had a paid fine of Rs 10,000 for restoration of the case. Earlier the case was dismissed for non-prosecution by the appellant. Ayyan was arrested from Benazir Bhutto International Airport with $500,000 in March 2015.

he Anti-Smuggling Organization (ASO) Islamabad conRiscated 5,800 kilogram of foreign origin high quality fabric. According to details given by Arif Dar, Superintendent ASO while talking with Customs Today, that he received a tip-off through Deputy Collector ASO Ansir Anis who set up a picket on GT Road Peshawar and stopped the offending vehicle (Carrying smuggling goods) which was fully loaded with smuggling fabric. She asked the possessors of the fabric to show the relevant GDs of the loaded item but they failed to provide any documents or proofs which can show that the loaded fabric was not smuggled one. After retrieving initial information, the ASO team made a seizure case against the possessors of smuggled goods and brought the foreign origin fabric to State Ware House. The market value of the fabric and the offending vehicle is Rs4.00million. The ASO staff has registered an FIR against the tax evaders and forwarded the case to the Investigation and Prosecution Department for further investigation. The party impounded the item and the vehicle includes Arif Dar, Superintendent, Arshad Butt and Tariq, Inspectors. Meanwhile, The Anti-Smuggling Organization (ASO) Islamabad im-

customs tribunal adjourns hearing of petition filed by Ayyan Ali

pounded a large number of foreign origin smuggled steering gear assemblies and contraband lower arm suspensions on the GT Road, Chungi No: 26, Motorway Chowk. According to details given by Ansir Anees, Deputy Collector ASO Islamabad, that a tip-off was received from the Superintendent Customs

(Preventive) MCC Islamabad that an attempt would be made to smuggle foreign origin miscellaneous auto parts from Gilgit by a truck with registrations No: TAE-892. She said that, after getting the said information, a raiding party was constituted which set up a picket on GT Road, Chungi No: 26. The truck was

sighted coming from the Gilgit side which was signalled to stop by the Sepoys. She told CT that a thorough search of the aforementioned vehicle led to the recovery of 25 cartons of steering gear assemblies made of China weighed 475 kilogram and 25 cartons of lower arm suspensions weighed 500 kilogram.

Special car cell takes NDp toyota hilux into possession

ISLAMABAD

M FAIZAN

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pecial Car Cell, Directorate General of Customs Intelligence and Investigation, Federal Board of Revenue Islamabad has impounded a non-duty-paid smuggled Toyota Hilux Surf worth Rs3.5million. According to sources, Special Car Cell received a tip-off that the said non-duty-paid smuggled vehicle, Model 2005, with registration

plate No: BF-9705 Sindh is moving around Sector F-10, Markaz Islamabad. The staff of the Special Car Cell, under the supervision of Superintendent Saeed Ahmad, Intelligence OfRicers Gul Nawaz and Kaleem Ahmad with sepoys, rushed to the F-10 sector and started the search of the apprised non-dutypaid smuggled vehicle. The team found the said vehicle in a parking area. On demand, driver and a possessor of the vehicle failed to produce any import or auction docu-

ments regarding the payment of duties and taxes, except a colored photo copy of one page of the registration book. As per import and auction data available with the Directorate General Customs Intelligence and Investigation, no import and auction record existed. Therefore Special Car Cell took into possession the nonduty-paid smuggled Toyota Hilux under section 17 of the Customs Act1969 for further veriRication of its import status and payment of duties and taxes and forensic test.

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M/s New National Trading Corp moves SHC challenging FIR KARACHI: The Sindh High Court (SHC) has issued notices to customs authorities and deputy attorney general on a constitutional petition ﬁled by M/s New National Trading Corporation (Private) Limited for challenging FIR against it, alleging imported of kerosene oil in the garb of white spirit. While the hearing of the petition, a two-member bench, comprising Justice Munib Akhtar and Justice Yousaf Ali Saeed, also directed them to ﬁle their respective para wise comments on the next date of hearing.

court grants bail to alleged owner of non-duty paid car

Thursday August 24, 2017

Karachi

Dg Valuation to revise Vr No. 703 & 704/2014 today

KARACHI

cuStoMS BuLLetIN report www.customsbulletin.com

ustoms Taxation and Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi has granted interim prearrest bail to suspect namely Naveed Zaman who was booked in a case of smuggled/ non-duty paid Honda Accord Saloon car bearing registration number BFT-418 model 2003 and evaded the duty and taxes of Rs 5.44 million. During the hearing, counsel for the accused appeared before the court and moved an application for pre-arrest bail. He argued that his client is innocent and was falsely been implicated in this case, who is ready to face trail, however, he has apprehensions of arrest, therefore, the court may grant him bail till final disposal of this case.

customs export collects rs 11.2 million KARACHI

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he Customs Exports has successfully collected Rs 11.2 million during the first 15 days of August 2017 of the fiscal year 2017-18. Sources told Customs Today that Customs Exports issued ten show cause notices out of which six final notices were served on defaulter companies in first 15 days of August. It is necessary to mention here the Customs Exports successfully collected Rs 38.12 million during the month of July. The Customs Exports issued show cause notices to one factory in order to collect the evaded tax amount. The customs authorities issued notices to M/s Ghaffor Textile and Export Karachi which is found involved in tax evasion. M/s Ghaffor Textile and Export Karachi used the wrong Pakistan Custom Tariff (PCT) heading to get its different items of consignment (ladies lawn suit and fabrics.

KARACHI

wAQAr AhMeD ANSArI www.customsbulletin.com

he Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Rulings No: 703/2014 and 705/2014 on August 24, 2017, it is learnt. Sources told Customs Today that an application was submitted by the importers to Customs Valuation in which change in prices of formic acid was requested. Sources said that Valuation Ruling No. 703/2014 Formic Acid H.S Code 2915.1100 issued on 19th of December 2014. A meeting was held with the stakeholders on 2 August, 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained. Valuation Ruling No: 705/2014 Toyota Hillux Vigo of Thailand Origin was issued on 14th of January 2014. A meeting was held with stakeholders on 2ND August 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well. The copies of contracts were made/LCs opened during the last three months showing the value of item in question and copies of sales tax invoices issued during the

last four months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers. During a meeting, the importers were of the view that everyday technologies are being upgraded in electronics and its new versions are arriving in the market. Sources said that conform to the revised Valuation Ruling No: 703 and 705 on 24 August.

Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained

govt encouraging setting up of new industries

KARACHI

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he government was providing full cooperation towards investment as well as the establishment of new industries. This was stated by the Governor of Sindh, Muhammad Zubair, during a visit to the Overseas Investors’ Chamber of Commerce and Industry (OICCI) here on Thursday. He said that the enhancement in

investment and economic activities would be beneRicial towards creation of employment opportunities as well as poverty alleviation. The Governor praised the contribution of the OICCI towards the revenue generation. He said that after the restoration of law and order in Karachi, attention is being focused on rehabilitation and improvement in infrastructure so as to enhance the economic and commercial activities. Zubair said that Rs. 25 billion Karachi Package has been announced by the

Prime Minister. Through this special attention would be paid towards the infrastructure in the industrial areas of Karachi as well. He stated that after improvement in law and order Karachi has emerged as an ideal city for foreign investment as well. The Governor pointed out that the OICCI was also helpful for attracting the foreign investment. He assured that the government would help resolve the problems of OICCI on priority basis and in this regard he would also approach the concerned ministries.

Meanwhile, Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No: 808/2016 in the first week of September, it is learnt. According to the details, Surriya said that the department is reviewing suggestions from importers to set new prices. She further said that some valuations which were issued in 2015 and 2016 were over viewing from the beginning.

Inspector arrested for taking bribe nti-Corruption Establishment on Wednesday arrested an inspector of Excise and Taxation department Multan for getting bribe. Assistant Director Investigations Anti Corruption Establishment, Adnan Asif Bhutta under the supervision of Special Judicial Magistrate Zahoor Hussain conducted a raid at Excise and Taxation department.

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FBR’s I&I-IR barred from using investigation authority Thursday August 24, 2017

Lahore

LAHORE: High Court has barred Federal Board of Revenue’s (FBR) Intelligence & Investigation-Inland Revenue from using authority of investigation until further orders. The LHC has sought reply from the federal government, FBR chairman and Intelligence & Investigation-IR director general and issued notices to them. The petitioners’ lawyer, Waseem Ahmed Malik advocate, told the court that it is compulsory for the Directorate of Intelligence & Investigation-IR to recruit qualified and experienced investigation officers under the Income Tax Ordinance Section # 230. He alleged that the directorate recruited ineligible officers.

customs court sends accused to jail on judicial remand of 14 days LAHORE

M IMrAN MehAr

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he Special Court of Customs Taxation and Anti-Smuggling has approved fourteen days judicial remand of accused involved in cigarettes smuggling. According to details available to Customs Today, customs investigation team presented accused Rameez Iftikhar before the court of Customs Taxation and Anti Smuggling judge. Customs investigation team requested the court that they need further time to complete investigations from accused. They prayed the court to extend Rive days physical remand of accused. On request of customs team Shakeel Ahmad judge of the Customs Court sends him to jail for judicial trial. Sources told that accused Rameez

FBr serves notices on 1,980 tax evading govt officials he Federal Board of Revenue (FBR) has issued notices to around 1,980 tax evading government officials who have been identified through monitoring of withholding tax on the fees paid to the educational institutions. According to the sources of Customs Today, the Federal Board of Revenue has spotted all the government officials in the audit. The FBR has served notices on them to submit their details since 2015 within 15 days. The FBR has said that in case of failure in the submission of their tax record, the FBR will take strict legal action against them. On the other hand, the FBR has also decided to issue notices to such individuals who pay Rs200000 and above as education fees in a year, but they are not on the tax roll. An official of the FBR said the notices will be issued countrywide to individuals asking them to get registered with the tax authorities otherwise tax department would slap fine and penalties on them. –CB Report

Iftikhar was making an attempt to smuggle cigarettes to USA. Sources said that worth of the goods is more than Rs 1.3 million. On the other hand 17 other cases were also scheduled for hearing on Tuesday in Custom Court. Most of the cases were adjourned without any proceedings. Framing of charges against Rasheed was also adjourned for next week. Final arguments and statements of the concerned parties in case of smuggling against RaRique Ali was also scheduled for hearing which is rescheduled for next week. Meanwhile, The Special Federal Court of Customs Taxation and Anti Smuggling has sent two accused to jail on extension of judicial remand of 14 days. According to details two accused Rehmat Ali and Nasir Khan were arrested by the customs intelligence. After arresting the accused Customs intelligence started investigation against them and got their physical remand as well for this purpose.

ASo seizes 625 mobile phones, accessories from Shera kot LAHORE

M hAYAt

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ollectorate of Customs Preventive Anti-Smuggling Organization (ASO), in pursuance of information, seized 625 mobile phones of Samsung and Rivo brands and accessories along with the vehicle carrying the contraband goods. The market value of the seized items is approximately Rs 10.5 million. Sources told Customs Today that Collector Customs Preventive ZulRiqar Ali Chaudhary received information about some smuggling attempts. He immediately constituted an anti-smuggling squad comprising Superintendent Nasir Minhas, Deputy Superintendent Gulzar Bhatti, Inspector Agha Qadeer, Inspector Mazhar Butter, Inspector Tariq Baig, Inspector Mansoor Elahi and Inspector Asif Nawaz.

Dc Adjudication declares seizure of printing ink, items as legal

eputy Collector Customs Colectorate of Adjudication Muhammad Hassan Farid has issued Order-in-Original (ONO) No. 224/2014 in favour of Anti Smuggling Organization Lahore. According to the details, ASO intercepted 24 cartons lying at Babu Sabu Interchange, Sherakot Lahore appears to be foreign origin. On query three persons standing near the said cartons identiRied themselves as Muhammad Tanveer introduced as labour and Fazalur Rehman and Ilyas Khan

claimed the ownership of the said cartons. Thereafter, examination of the goods packed in the said artons was conducted in presence of above said persons and witnesses which led to the recovery of Printing ink, assorted colours, 1 kilogram, meal box, packing brand Skyey Lion China origin, foreign oridin lighting key ring, assorted shapes, and sizes made of plastic. On demand the said owners failed to produce in support of lawful possession of the above said foreign origin printing ink and lighting key ring. –CB Report

The ASO team intercepted an auto rickshaw near Shera Kot and asked the driver, identiRied as Noor Khan, to produce legal documents regarding possession and transportation of the goods but he failed to show any relevant documents. During initial investigation, it was also revealed that Khan was driving lisence. The ASO team seized the

goods and vehicle vide Customs Act, 1969. Sources said that the team has started investigations after after registering a case of smuggling against the suspect. It is necessary to mention here that Collector Customs Preventive ZulRiqar Ali Chaudhary has already directed all anti smuggling squads to adopt zero tolerance policy towards smuggling.

Fto adjourns case of M/s hameed Steel he Federal Tax Ombudsman (FTO) consultant has adjourned the hearing of a case filed by M/s Hameed Steel Mills against the Regional Tax Office (RTO), Gujranwala, until the next hearing. FTO will hear the case after one week. Consultant Tariq Yousaf heard the case in which counsel for the appellant argued that the RTO had failed to release the sales tax refund of the last two years claimed by the company. He said the RTO collecting excessive tax from M/s Hameed Steel

Mills for the last two years. He approached the commissioner concerned many times for issuance of refunds but the RTO ofRicials did not pay refunds even after the passage of reasonable time. At the end, the company decided to approach the FTO seeking interference in this case. The counsel appealed the FTO consultant to direct the RTO to clear refund claims. The counsel further said the RTO should refund the excessive collection in the wake of taxes by the end of Rinancial year but the situation is quite otherwise. –CB Report

NAB to start probe against M/s haseeb waqas Suger Mills

LAHORE

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he National Accountability Bureau (NAB) has decided to start inquiries against six sugar mills including two sugar mills of former Prime Minister Nawaz Sharif’s close relatives. It is pertinent to mention that

Federal Board of Revenue has registered two cases of tax evasion against M/s Haseeb Waqas Sugar Mills. Both of the cases are being heard in the special Federal Court of Customs Taxation and Anti Smuggling of Lahore. Pre arrest bail pleas of Haseeb Waqas and others had also rejected by the Customs Court. Sources told that during the executive board meeting of the anti-

graft body was held under the chair of NAB chief Qamar Zaman Chaudhry and it was decided to authorize three investigations and 11 inquiries against government ofRicials and businessmen. It was decided to authorize six inquiries against M/s Abdullah Sugar Mills (formerly Yousaf Sugar Mills) Lahore, M/s Abdullah Sugar Mills Depalpur Lahore, M/s TMK Sugar Mills

Karachi, M/s Seri Sugar Mills Karachi, M/s Tandianwala Sugar Mills Lahore and M/s Haseeb Waqas Sugar Mills Lahore for their alleged involvement in misappropriation of funds. They said that large taxpayer unit Lahore of the FBR had registered two FIRs against M/s Haseeb Waqas Sugar Mills and M/s Abdullah Sugar Mills in 2015, which involved the FED evasion of Rs 267 million.

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KARACHI

wAQAr AhMeD ANSArI www.customstoday.com

he Directorate of Post Clearance Audit (PCA) has shown outstanding performance during the first 20 days of August 2017 and detected 11 cases involving a revenue of Rs 102.5 million. Sources told Customs Today that Directorate of Post Clearance Audit headed by Director Nadeem Memon detected cases pertaining to short payment of customs duty and sales tax/ and withholding tax (WHT) because of inadmissible concessions, short payment of anti-dumping duty, additional sales tax, federal excise

Thursday, August 24, 2017

duty (FED) and income tax. The Directorate served three contravention reports and nine audit observations during first 20 days of August 2017 involving total duty and taxes of Rs102.5 million. The companies served audit observations or contravention reports include bulk containers in PICT, M/s Suhana Marble and Export, M/s Sufyan Chemicles Industries and two other companies.. The Directorate General of Post Clearance Audit (PCA) has unearthed tax evasion of Rs112.2 million by different importers during July 2017.

Sources of Post Clearance Audit told that on the instructions of Director PCA Nadeem Memon, Deputy Director Sajid Ali Baloch and other officials of PCA scrutinized 213 import consignments data and found that the importers used wrong and/or false PCT Headings to get their consignments cleared in July 2017. Directorate General of Post Clearance Audit (PCA) Nadeem Memon directed all relevant officials and teams to expedite their efforts to recover outstanding amount from defaulters. It is necessary to mention here that Post Clearance Audit is using all available resources to detect cases involving tax evasion and mis-declaration.

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eDItorIAL

Minister’s resolve to boost exports

ccording to newspaper reports, the new commerce and textile minister has expressed the resolve to achieve exports targets set for the current financial year by stimulating business and trade activities in the country. In his views, trade and economy are the key components of diplomacy in today’s world which also help maintain political relations with the nations. Pakistan has tremendous opportunities for foreign investors once peace and security is restored in the country.The minister’s resolve should not be a breaking news for the nation as the erstwhile minister had the similar views on business, trade and economy but he left the arena without practically doing anything under his control. The nation is fed up with lip service of the so-called people’s representatives, demagogues and rabble rousers who make tall claims for the nation building but have least regard to fulfill their obligations. Pakistan has diplomatic missions in almost every country of the world and are equipped with man and machines, but the country has to go a long way to introduce its presence on the world map let alone doing anything positive in domains of business, trade and investment. The nation pays billions of dollars annual bill for their salaries and perks but most of the members of diplomatic crew have no utility whatsoever. Until now, no political government ever sought any performance report from the commercial attachés or questioned their utility. On another note, the ministry of commerce, textile or finance have to struggle their own part of mismanagement and administrative failures and the finance division members seemed to be are in a mode to justify their own salaries and perks. The oﬃcials, who are responsible to devise trade and investment policies to enhance trade with potential markets, are in hibernation. Pakistan had signed the Generalized Scheme of Preferences with EU member states, but failed to gain benefits from the huge market. It is unfortunate that Pakistan has lost 20 percent of its exports to the regional competitors. The government has never bothered to study what made the Pakistani entrepreneurs to invest in a hostile country like Bangladesh which had doubled its export volume in short span of a few years.

chinese investment abroad A

LAHORE

Dr AFtAB AFZAL

www.customstoday.com

ccording to newspaper reports, China’s National Development and Reform Commission has decided to curb ‘irrational’ investment on its various overseas mega development projects, including Belt and Road initiative, and restrict the local companies from investing abroad. However, the new guidelines would not affect the Chinese investment plans in Pakistan. Reports also suggest that Beijing would enhance healthy trade cooperation with other countries, but would curb corruption in the process of investment in over-

seas destinations. The government took the action after noting mergers and acquisitions by Chinese companies in the countries involved in the Belt and Road initiative and the aim of the government is to restrict the outflow of the national capital.The Chinese companies have already invested more than $18.5 billion in 20 countries to build economic and trade zones whereas the Chinese acquisitions are spreading over 68 countries as part of President Xi Jinping’s Belt and Road initiative, covering a total outlay of $33 billion. The projects include high-speed railway in Indonesia and a crude oil pipeline between China and

Myanmar. The China unveiled the Belt and Road project four years ago to boost trade and investment along two ancient routes –Silk Road, connecting China to Europe by land and sea and the second covers South East Asia and Africa. The role of Chinese companies is increasing despite government curbs on capital outflows. In a Belt and Road Initiative Summit in May last, the Chinese prime minister pledged $124 billion to partner the neighbouring countries for the plan. There is a lesson for Pakistan. If the rules of the game can change in south East Asia, they also can also change here

and the government policymakers and stakeholders must have an alternative plan without blaming the friendly country for anything and questioning its sincerity. China is a trusted friend, but it has its own issues, interests and limitations and it cannot be blamed for change of rules. We have to establish cooperation in winwin situation and without compromising on the national interests. Without going blindly into business deals with China and other trade partners, there must be a fair adoption of policies and agreements. It is better to avoid a deal which is harmful for the interest of Pakistan or China at the long run.

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Collector Ambreen issues show cause notice to owner of smuggled goods LAHORE: Collectorate of Customs Adjudication Collector Ambreen Tarar has issued a show cause notice to the owner of non duty paid goods. According to the details, it was reported in the contravention report that M/s Umar and Company (NTN 2485646) imported 53 consignments of potatoes during the above mentioned period. The importer had deliberately claimed the benefit of SRO 549/(I)/2008. It was also mentioned in the contravention report that the importer was not entitled for exemption of sales tax. Thus the importer with the connivance of clearing agent deliberately deprived the government of its legitimate revenue of Rs9,687,338/- (on account of sales tax Rs8,234,237/-) and on account of its additional sales tax Rs1,453,101/-.

Amazon web Services & Nasdaq to sponsor FIA innovators pavilion

Thursday August 24, 2017

National

customs submits investigation challan to special federal customs court

ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

IA is pleased to announce that Amazon Web Services and Nasdaq have signed on as sponsors of FIA’s third annual Innovators Pavilion, a showcase for fintech startups that are offering forward-thinking solutions for the global derivatives markets. “We’re proud to be partnering with Nasdaq and Amazon Web Services to promote innovation in financial services,” said Matt Haraburda of XR Trading, chairman of the Innovators Pavilion selection committee and executive committee member of the FIA Principal Traders Group (FIA PTG). “Nasdaq and Amazon Web Services have done tremen-

dous work to foster innovation and their sponsorship of the FIA Innovators Pavilion is vital to our efforts to create a thriving fintech community. We’re looking forward to showcasing exciting startups that can help drive progress in our industry.” This is the second year that Nasdaq has sponsored the Innovators Pavilion. FIA also announced a handful of companies serving as Community Partners to increase engagement in the fintech community: Fintech Sandbox, Fintex, Holland Fintech, Hyde Park Angels, and Seismic Foundry. Startup companies that qualify to take part in Innovators Pavilion will receive free space on the Expo show floor to display their products and services. FIA also will host a “Meet the Innovators” competition to spotlight the five most exciting companies within the Pavilion. The winner of this competition will receive more than $20,000 in cash and other resources.

LAHORE

M IMrAN MehAr

www.customsbulletin.com

he Special Federal Court of Customs Taxation and AntiSmuggling has received an investigation challan of the case of 14 kg gold smuggling. Earlier in the start of the last week customs court directed the investigation team to present the record in the next hearing so customs team presented the investigation challan of the case on Tuesday. The customs court strictly directed the IO that challan be presented in 14 days in every condition. Earlier, the court had extended a 14-day judicial remand of an accused Muhammad Riaz in a famous case of 14 kilogram of gold smuggling. Accused Muhammad Riaz had been arrested by the customs authorities after the rejection of a prearrest bail plea by the Supreme Court of Pakistan. Earlier, the customs authorities had arrested two female accused involved in the smuggling of 14 kg gold and currencies from the Multan International Airport.

The customs authorities at the Multan International Airport apprehended two females who had worn 14 kg gold in their hands and feet as bangles (Kara) and anklets (Pazaib) and had 39,000 Saudi riyals and

United Arab Emirates Dirham. The Multan Customs had conRiscated the recovered gold and foreign currencies worth approximately Rs64.6million and lodged an FIR against both women on the charges

of smuggling and money laundering. At the start of the month, he was produced before the court of Masood Arshad from where he sent him to jail for judicial trial. Another accused Mazhar Hussain is still at large.

ANF recovers 85 kg drugs in 20 operations RAWALPINDI

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nti Narcotics Force (ANF) has recovered 85 kilograms drugs amounting Rs 233 million in international market in 20 counter narcotics operations carried out across the country. Besides netting 24 offenders including three ladies involved in trafRicking of drugs. The seized drugs comprised 28.3 kg Heroin, 50 kg Hashish, 2.42 kg Amphetamine, two kg Methamphetamine and 2.02 kg Opium. ANF also impounded six vehicles. According to ANF spokesman, ANF Rawalpindi apprehended two local drug peddlers identiRied as Muhammad Bashir and Muhammad Riaz both residents of Attock and recovered Rive kg Hashish. They were arrested while

riding on a motorcycle near Abbotabad Mor, G.T. Road, Attock. In another operation, ANF Rawalpindi on pursuance of information raided a warehouse situated in a basement of a local hotel at Sost, Giligit and seized 9.6 kg Heroin concealed in carpets. A person identiRied as Muhammad Akram r/o Rawalpindi was also arrested. ANF Rawalpindi also recovered 800 grams Heroin from a UK bound parcel being sent through a courier service company based at Gulzar-eQuid, Rawalpindi. Heroin was concealed in two wooden stools. ANF Lahore arrested two lady drug carriers namely Roohi Banu and Mahraja Bibi both r/o Peshawar and recovered two kg Heroin. They were arrested near Niazi Bus Stand, Bund Road, Lahore. In another operation, ANF Lahore intercepted a car near Gour-

met Bakers, G-1 Market, Johar Town, Lahore and recovered Rive kg Hashish during search of the car. The operation also resulted in arrest of two persons namely Anwar Gul and Rafaqat Ali both r/o Peshawar. Yet in another operation, ANF Lahore intercepted a Canada intended parcel at an ofRice of a courier service company based at M.M Alam Road, Gulberg-II, Lahore and recovered 200 grams Heroin. In fourth operation, ANF Lahore on pursuance of information raided near Jawad Club Chowk, Amin Pur Road, Faisalabad and arrested Shoukat Ali and Muhammad Aslam, r/o Faisalabad and Qasim Khan r/o Peshawar while they were engaged in drug transaction and recovered 8.4 kg Hashish and one kg Opium. The operation also led to seizure of a car and a motorcycle being used by the accused persons. ANF Lahore

also raided near Niaz Marwat Rehmat Khel Hotel, M.M Road, Mianwali and arrested an accused identiRied as Tariq Sajjad Khan r/o Mianwali along with 12 kg Hashish. In sixth operation, ANF Lahore arrested a lady drug carrier namely Naz r/o Peshawar and recovered three kg Hashish. She was arrested near Lasani Pull, Sargodha Road, Faisalabad. In seventh operation, ANF Lahore recovered six kg Hashish by arresting a local drug supplier namely Muhammad Imran r/o Muzaffargarh. In addition, ANF Lahore raided near Bus Stand, Sialkot and arrested Muhammad Umar r/o Sargodha along with 1.5 kg Methamphetamine. ANF Peshawar stopped a suspected Toyota Hiace van near Mufti Mehmood Chowk, Lakki Marwat and seized 9.6 kg Hashish during search of the vehicle.

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Appraising oﬃcer Manzoor allowed voluntary retirement Thursday August 24, 2017

National two Ir oﬃcers granted performance allowance

ISLAMABAD: Manzoor Ahmed, a Pakistan Customs Service officer of BS-16, has been allowed voluntary retirement. On completion of 30 years qualifying service for pension, the competent authority has allowed voluntary retirement from government service to Manzoor, Appraising Officer, Model Customs Collectorate (AppraisementEast), Karachi with effect from September 30, 2017.

FBr issues corrigendum over transfer/posting of raza Ashfaq

ISLAMABAD

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ISLAMABAD

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wo Inland Revenue Service officers of BS-17, selected through the process of internal job posting (IJP), have been granted performance allowance. The officers, Tooba Ahmed Khan and Sanam Rasool, presently posted in Regional Tax Office-III, Karachi, have been granted performance allowance with effect from August 9, 2017. The grant of performance allowance will be governed through the terms and conditions laid down vide Circular No. C.No. 6(96)S(BIC)/2013-14 dated 06-03-2015 and will be discontinued in case prescribed terms and conditions are not fulfilled within one month from the date of issuance of this notification. Meanwhile, Faiz Ahmad, a Pakistan Customs Service officer of BS-19, has assumed the charge as Collector (OPS), Model Customs Collectorate of Preventive, Lahore.

customs inspector Muhammad Nasir Awan mourned ederal Board of Revenue has announces deep regret over the sad demise of Muhammad Nasir Awan, a BS-16 officer of Customs Department on July 28. Muhammad Nasir Awan was born on April 1, 1967 and joined government service on October 30, 1985. At the time of his death, the officer was posted as Inspector at Model Customs Collectorate, Multan. The FBR appreciated the dedicated services rendered by the deceased officer. While expressing grief at his death, the Board also conveyed its commiseration to the members of the bereaved family, praying, “May his soul rest in eternal peace and may Allah give patience and fortitude to the family members to bear this irreparable loss.” –CB Report

ederal Board of Revenue issued corrigendum over the transferred/posted of Raza Ashfaq Sheikh, a Cost Accountant, (BS-19). The FBR said that the transfer/posting of the officer made vide Board’s Notification No. 2083-IRI/2017, dated 11.08.2017 appearing at Sr # 06 may be read as Cost Accountant, Large Taxpayers Unit, Lahore instead of Additional Director, Directorate of Intelligence & Investigation-IR, Lahore. He has also been assigned the additional charge of the post of Additional Director (CREST) till the posting of a regular incumbent. Meanwhile, Two Inland Revenue Service ofRicers of BS-17, selected

through the process of internal job posting (IJP), have been granted performance allowance. The ofRicers, Ahmad Naveed Fazal, Usama Amin, Shehryar Atique and Farhan Ahmed, presently posted in Re-

gional Tax OfRice, Sialkot, have been granted performance allowance with effect from August 9, 2017. The grant of performance allowance will be governed through the terms and conditions laid down vide Circular

No. C.No. 6(96)S(BIC)/2013-14 dated 06-03-2015 and will be discontinued in case prescribed terms and conditions are not fulRilled within one month from the date of issuance of this notiRication.

pIA oﬃcial arrested for attempting to smuggle 1,835 smart phones from Abu Dhabi C

LAHORE

M hAYAt

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ustoms Preventive team deputed at Allama Iqbal International Airport has arrested a PIA ofRicial and his companion who allegedly attempted to smuggle 1,835 cell phones worth Rs 27.5 million. Sources told Customs Today that the PIA ofRicial received a family coming from Abu Dhabi with six suit cases and hand carry bags. The PIA ofRicial Nasrullah Khan received the family and tried to get their clearance under the grab of protocol. It was said that the Customs authorities questioned the family and the PIA ofRicial if they were processing anything unlawful but they responded in negative. However, when they were examined thoroughly the customs authorities recovered 1,835 smart phone of different companies in-

cluding Samsung, HTC, Huawei, Motorola and other such types. The sources said that the total value of the mobile phones was assessed at

Rs 25.7 million in Pakistani currency while the family was coming from Abu Dhabi. As per the customs authorities the mobiles were

to be dumped in the markets in Lahore which would have inRlicted losses of millions of rupees to the national exchequer.

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FIA arrests three human traﬃckers SIALKOT: The Federal Investigation Agency (FIA) arrested three human traﬃckers from various parts of Sialkot District. FIA Divisional Deputy Director Khalid Anees said the FIA arrested accused Aftab Farooq from Kapoorwali-Sialkot Village, accused Muhammad Sarwar from Qila Kalarwala-Pasrur Village and Muhammad Younas from SirraanwaliSatrah Village. He added the accused used to deceive innocent people by taking money from them for sending them abroad. He maintained the accused neither returned their money nor sent them abroad. He said cases were registered against them while further investigation was underway.

Faisalabad ASo impounds non duty paid toyota car FAISALABAD

NAeeM SheIkh

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he Customs Anti Smuggling Organization (ASO) has impounded a smuggled Toyota Crown car worth Rs 25,00,000 involving duty tax Rs15,00,000. Sources told Customs Today, that in pursuance of information the ASO team intercepted a used Toyota Crown car bearing registration number BEN-027 model 2004 in white colour near Kohinoor city. The ASO team asked the driver Adnan Amjad son of Rana Amjad to produce legal documents regarding possession of the vehicle, but the driver failed to produce any legal documents. After his failure ASO team impounded the vehicle under section 2(s), read with SRO 566(1),2005 section 16, 18, 157,

168, and 178 of the Customs Act 1969 and Section 3 of Sales Tax Act, 1990, Section 148 of Income Tax Ordinance 2001 and forwarded the case to Customs Adjudication for further proceedings. The ASO team comprising Superintendent Tanveer Raza Naqvi, Inspector Faizi Raza, Safdar Ali, and sepoys Muhammad Ashraf, Muhammad Naeem, Muhammad Yaseen, Liaqat Ali and others. Meanwhile, The Field Investigation Unit (FIU) of the Customs Intelligence and Investigation has taken into possession a nonduty-paid Mazda truck with registration No: TKA-023 (Jaffarabad), Model 1994, worth Rs2.5million involving customs duty and taxes of Rs2.8million. Sources told Customs Today that Deputy Director Syed Ittrat Hussain received a tip-off about some non-duty-paid vehicles which were moving on roads.

National

100 contraband digital satellite receivers & four LNBs seized

customs Appraiser Abdul hadi arrested for rs600m corruption PESHAWAR

IrFAN BAhADur

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he NAB Khyber Pakhtunkhwa apprehended Abdul Hadi, Appraiser, Customs Dry Port, Peshawar, on Wednesday for allegedly being involved in corruption & corrupt practices. His conduct caused the treasury a loss of more than Rs600million. During the course of inquiry, it was revealed that accused Abdul Hadi, being Appraiser, Custom Dry Port, Peshawar, in connivance with the M/s Jan Builders and others, illegally assessed and cleared the duties/taxes and determined the value of consignments of construction machinery. The machinery in question was imported on the Letter of Credit issued before the promulgation of Import Policy 2016 in a blatant violation of the policy and in return collected bribe. The NAB KP is vigorously pursuing the case; more facts are expected to surface. The NAB is given the physical custody of the accused for six days. Assistant Director Media Salma Begum said there are also certain other cases in which Customs officials have looted taxpayers’ money.

HYDERABAD

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he Anti-Smuggling Organization (ASO) Jacobabad has conRiscated about 100 foreign origin smuggled Echolink digital satellite receivers and 04 LNBs valued at Rs256000 involving customs duties and taxes of Rs157964 during an action at a checkpost of Jacobabad during nine days of August 2017-18. Collector Model Customs Collectorate (MCC) Hyderabad Akhlaq Ahmad Khattaq directed that smuggling attempts should be frustrated in the region. Additional Collector Rehmatulah Vistro received a tip-off regarding the smuggling of foreign origin contraband non-duty-paid satellite receivers. He constituted a team consisting of ASO Customs Preventive Larkana Assistant Collector Mumtaz Ali Ghangro, Jacobabad In-charge Aziz Ahmed Katpar, Inspector Rahib Ali Abro, Inspector Nasarullah Gilal, Inspector Nazeer Ahmed Brohi, Inspector Hidayatullah Abro, Sepoys Dhani Bux Shorie, Ahmed Bhutto, Ajaz Bhutto, Khalil Ahmed and Driver Manzoor Masori. The team intercepted a public

Thursday August 24, 2017

transport vehicle near Jacobabad checkpost and recovered the abovementioned goods. Prior to the recovery of items, the ofRicials asked the driver for producing documents regarding the legal import of the articles but he could not prove anything lawful. The team impounded the items under the Customs Act. A case was registered against the accused. The case

has been sent to the customs adjudication for further legal action. The ASO deposited the seized foreign origin digital satellite receivers into the State Warehouse Sukkur. Talking with Customs Today, Customs Additional Collector Rehmatullah Vistro said the Hyderabad Customs showed excellent performance for the anti-smugglings during said period.

Multan rto given rs17.77b tax recovery target in Q1

MULTAN

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ederal Board of Revenue (FBR) has decided to give quarterly tax recovery targets to large taxpayers units and regional tax offices (RTOs) instead of the previous practice of monthly targets and assigned Multan RTO to recover over Rs 17.77 billion in first quarter (July-Sep) of 2017-18. According to official sources, FBR used to seek monthly reports regarding tax recovery but now the tax officials would send recovery reports after

completion of a quarter of the fiscal year. The RTO Multan was given the target of Rs 4.52 billion for July 2017 which included Rs 2.07 billion income tax, Rs 2.457 billion sales tax and Rs 35 million federal excise duty (FED). Multan RTO would recover Rs 5.48 billion in Aug 2017 including Rs 3.194 billion income tax, Rs 2.258 billion sales tax and Rs 33 million FED. And in Sep 2017, RTO Multan has been asked to recover Rs 7.771 billion including Rs 5.023 billion income tax, Rs 2.73 billion sales tax and Rs 45 million FED.

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Brazil’s 2017 soy exports up

World Customs

RIO DE JANEIRO: Brazil’s soy exports so far this year have already outstripped last year’s total, according to official figures released on Monday. Through mid-August, the world’s top soy exporter shipped some 53.37 million tons of the grain aboard, topping 2016’s total of 51.58 million tons, the Agriculture Ministry reported. compared with the 95.4 million tons harvested in the previous period, which was affected by drought.

Thursday August 24, 2017

Abu Dhabi foils bids to smuggle 4,044 items in h1

rhino horn smuggler arrested at tambo Airport JOHANNESBURG

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ABU DHABI

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he General Administration of Customs – Abu Dhabi intercepted various attempts to smuggle 4,044 banned items, including drugs, medication, tobacco and other illegal substances, during the first half of 2017, a report said. The number of custom’s reports that were issued during the first half of the year reached 3,852, reported Wam, the Emirates official news agency. Customs clearance at the Customs Centre at Abu Dhabi International Airport recorded the highest number of confiscated prohibited items, totalling 1,740, followed by the customs centre in Mazyad with 776, and lastly by the post office of Abu Dhabi Customs with 570. Mohammed Khadem Al Hamli, acting director-general of

russia’s rouble up on steady oil, local tax duties he Russian rouble strengthened slightly in early trade on Thursday, supported by broadly stable oil prices and the start of local monthly tax payments earlier this week. At 0902 GMT, the rouble was up 0.3 percent against the dollar at 59.23, around its strongest level since July 21, and had gained 0.57 percent to trade at 69.51 versus the euro. Local monthly tax payments usually prompt export-focused companies to convert part of their foreign currency revenues to meet local liabilities. According to a Reuters poll, tax payments could reach 1.35 billion roubles ($23 million) this month. Oil prices edged up early on Thursday, clawing back some ground after losses in the previous session, but then fell slightly after U.S. data showed a big fall in crude stockpiles but also an increase in production. –CB Report

the General Administration of Customs – Abu Dhabi, explained that the department is working in cooperation with all its strategic partners, to develop the basis of its customs procedures by adopting the latest technologies and electronic services. The department is

also continuing its efforts to enhance the capabilities of its inspectors, and provide them with the necessary expertise by organising theoretical and practical training, to support them in their task of protecting homeland security and the safety of citizens.

china Q3 imports of uS Lpg to remain low on poor margins

hipments of liqueRied petroleum gas (LPG) from US to China are expected to remain limited in the third quarter as the arbitrage window may still remain shut amid strong US domestic demand and weak China prices, industry sources said on Monday. China has been cutting imports of LPG cargoes from the US since May as margins have turned negative, ICIS China data showed. The country’s imports of LPG fell by

7% month on month to 340,000 tonnes in May from 370,000 tonnes in April and dropped further by around 13% to below 300,000 tonnes in June, according to data from China Customs. The share of US LPG in China’s total imports has dwindled from 28% in April to 17% in June, the customs data showed. ICIS calculation based on shipping Rixtures showed that LPG cargoes Rlowing to China. –CB Report

nvironmental Affairs Minister Edna Molewa has welcomed the arrest of an alleged rhino horn smuggler at OR Tambo International Airport in Ekurhuleni. Minister Molewa on Friday congratulated members of the Environmental Management Inspectorate (“Green Scorpions”) for their assistance in the arrest of the 30-year-old Zimbabwean woman at the airport on Thursday. She was found in possession of two rhino horns. “The successes we are recording in terms of the Integrated Strategic Management approach can be attributed to the excellent collaboration between the Green Scorpions, SARS [South African Revenue Service], SAPS [South African Police Service] and other government agencies as

Saudi fiscal deficit continues decline

ccording to the second quarter budget statement for Saudi Arabia, the vast majority of the rise in the government revenue, up to 6 percent year-on-year, was due to improvements in oil revenue as result of higher yearly oil prices, but not higher export volumes. The report, released by Jadwa Investment, said “due to lower output in accordance with the OPEC agreement, provisional Q2 2017 data shows that Saudi oil and reRined products exports dropped by around 6 percent year-on-year.” Non-oil revenue in Q2 2017 decreased by 17 percent yearon-year, with all but one segment -

uk landlords persistently dodging taxes

LONDON

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he UK could be GBP 1 billion better-off if landlords didn’t dodge their taxes. Landlord across the UK are avoiding billions in taxes by simply not declaring their rental incomes, according to new information released by Richard Mur-

phy, a professor at the City University of London. The researcher bases his claim on his own analysis of tax dodging in the Newham Council in London. He estimated that approximately half of the landlords in the area have not registered for the self-assessment of their taxes. The lack of registration equates to approximately GBP 200 million in missed annual taxes in London. Richard Murphy believes that if

they strive to combat the illegal import and export of wildlife products,” said Minister Molewa. The woman was arrested after suspicious items were noticed by private security personnel during the scanning of her check-in luggage. This was reported to customs officials, who in turn called the Green Scorpions to assist with identification of the items. Meanwhile, South African police Wednesday arrested a 24-year-old woman with 20 kilogrames of rhino horn before boarding a flight bound for Hong Kong, a spokesman said. The woman, whose nationality has not been revealed, was detained at Johannesburg’s OR Tambo International Airport while in transit from the Zambian capital Lusaka. Police said a luggage scanner revealed her suitcase “contained 11 pieces of rhino horn weighing approximately 20 kilogrammes”. She has been charged with contravening laws that protect endangered species.

the data and assumptions are extrapolated to a national level, then the annual loss of tax income could be in excess of GBP 1 billion. Under current regulations, any landlord in the UK earning more than GBP 2 500 per year is required to register for selfassessments of their rental income for tax purposes. Meanwhile, Asking prices for homes in the UK fell by 0.9pc in August in their biggest

‘Taxes on income etc.’- showing yearly decreases, the report noted. While there were no speciRic tax increases to justify the sizable yearly increase in ‘Taxes on income etc.’, it’s believed a part of this rise could be due to a result of a general improvement in the collection process on behalf of government. The report also highlighted that the total government expenses dropped by 1 percent year-on-year in Q2 2017. This was largely a result of a drop in capital expenditure, which fell by 12 percent year-on-year, whereas current expenditure rose by 1 percent year-on-year. –CB Report

month-on-month drop of the year, according to the latest Rightmove Rigures. On an annual basis, the gain in house prices picked up pace in August, accelerating slightly to 3.1pc. The Rigures showed that the national housing market, which has softened in the past year due to tax changes, Brexit, political uncertainty and a consumer spending squeeze, is holding up better than the market in London.

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Five ships take berth at Port Qasim KARACHI: Brisk Shipping activities were recorded at the Port where ﬁve ships C.V Mehun, M.V Curla, M.T White Purl, M.T Malhari and M.T Karachi carrying containers, Coal, LPG Chemicals and Furnace oil were allotted berths at Qasim International Container Terminal, Multi-Purpose Terminal, SSGC Terminal, Engro Vopak Terminal and FOTCO Oil Terminal respectively on Thursday, August 10. Meanwhile three more ships C.V San Francisca, M.T Epic Sardinia and M.T Lumphini Park with containers, LPG and Phosphoric Acid also arrived at outer anchorage of Port Qasim during last 24 hours.

MMc confirms in talks to take up stake in Sabah ports iversified conglomerate MMC Corp Bhd has confirmed a report by The Edge Malaysia weekly that it is in talks with Sabah-controlled Suria Capital Holdings Bhd to take up a stake in the latter’s whollyowned Sabah Ports Sdn Bhd. “We wish to clarify that the discussion between MMC and Suria Capital Holdings Bhd with regard to the proposed acquisition of a stake in Sabah Ports Sdn Bhd by MMC Port Holdings Sdn Bhd, a wholly-owned subsidiary of MMC, has taken place. “However, as at to date, the board of directors of MMC has yet to make any firm decision in relation to the same,” it told Bursa Malaysia in a filing yesterday. Suria Capital also confirmed the discussions in a separate but similar Bursa filing. Warisan Harta Sabah Sdn Bhd, the investment arm of the Sabah government, controls 45.4% of Suria Capital. Yayasan Sabah Group has 3.67% while the

Chief Minister, State of Sabah, holds 1.66%. Altogether, the state holds a 50.37% stake in Suria Capital. The Edge Malaysia wrote in its publication for the week of Aug 7 to 13, citing sources, that MMC is in talks with Suria Capital to buy a stake in Sabah Ports, but that nothing has been firmed up so far. The size of the stake MMC is looking to acquire is also not clear yet, it noted. Sabah Ports has a 30-year concession, which commenced in 2004, to manage and operate eight ports in the state. They are Kota Kinabalu Port, Sapangar Bay Container Port, Sapangar Bay Oil Terminal and Kudat Port all located on the west coast of Sabah as well as Sandakan Port, Tawau Port, Lahad Datu Port and Kunak Port on the Sabah’s east coast. –CB Report

Ports & Shipping

Thursday August 24, 2017

uS west coast ports secure labour deal to 2022

georgia ports Authority sets another monthly record

WASHINGTON

nother month has brought another tonnage record for the Georgia Ports Authority (GPA). The agency reported its best July ever on Thursday. The Port of Savannah moved more than 336,000 twentyfoot equivalent units (TEUs) of containerized cargo last month, a 6.8 percent increase over July of last year. Total tonnage for the month at the ports in Savannah and Brunswick grew by 13 percent, or 2.37 million tons, to reach a total of 20.67 million tons. “Our July performance underscores the value of our deep-water ports to the nation’s economy,” GPA Board Chairman Jimmy Allgood said. “Our terminals support the exports of our farms and factories, supply components for domestic manufacturing and ensure the eﬃciency of retail commerce.” Earlier this week, GPA Executive Director Griﬀ Lynch told members of the Rotary Club of Atlanta the authority has set yearover-year tonnage records for eight consecutive months. –CB Report

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ongshore workers at 29 US west coast ports have ratified a three-year contract extension to secure better pay and benefits. In a deal made with the Pacific Maritime Association (PMA), International Longshore and Warehouse Union (ILWU) workers in California, Oregon and Washington secured an extension to 1 July 2022 which will raise wages, maintain health benefits, and increase pensions from 20192022. ILWU’s international president, Robert McEllrath, said: “The rank-and-file membership has made their decision and expressed a clear choice. “During the past year we saw a healthy debate and heard different points of view, with concerns raised by all sides. “The democratic process allowed us to make a difficult decision and arrive at the best choice under the circumstances.”

The current agreement was set to expire on 1 July 2019 and 67% of ILWU members voted in favour of the extension, the ILWU’s Coast Balloting Committee confirmed. “The International Longshore and Warehouse Union’s vote to extend their contract by three years helps sustain the momentum building in our supply chain as we continue to focus on delivering innovation, value and efficiency for the US importers and exporters,” said Port of Los Angeles executive director Gene Seroka. “The certainty that comes with this contract extension

is great news for all of Southern California, where one in nine jobs in the five-county region are connected to the San Pedro Bay port complex.” PMA president and CEO, James McKenna, stated: “This firstof-its-kind contract extension is great news for the maritime industry and the nation, setting the stage for reliable and productive cargo operations for years to come. “This agreement also continues to provide ILWU workers with a generous wage and benefits package during a time of great change in the global maritime business.

Indiana port to get major expansion WASHINGTON

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port in northwest Indiana may receive a nearly $10 million federal grant to help fund an expansion project. The U.S. Department of Transportation is recommending to partially fund a nearly $20 million expansion at the Port of Indiana-Burns Harbor, The (Northwest Indiana) Times reported. The project would improve the port’s cargo handling capacity and infrastructure to handle cargo that can be loaded onto ships, barges, trucks or trains. The Ports of Indiana would fund rest of the project. “Our Lake Michigan port provides critical access to ocean vessels, Great Lakes ships and river barges that connect Indiana companies to the world. Further investment into this port will only strengthen the

tremendous economic impact it generates for our state each year,” Gov. Eric Holcomb said. The expansion includes adding a more than 2acre cargo terminal for multimodal cargo transfers, almost 4.5 miles of rail and two new rail yards. Other additions include 1,200 feet of dock space, a 6-acre truck yard, extending the west dock’s retaining wall and repaving a dock apron. The expansion would help attract new companies and meet the anticipated future demand at the port, said Rich Cooper, Ports of Indiana CEO. “Our port companies and stevedores will beneRit tremendously with this signiRicant new infrastructure investment that will enhance productivity and efRiciency for those who rely on the port’s water, rail and highway connections,” Cooper said. The funding is available through one of 10 FASTLANE small project grants. Congress may

vote to block the port expansion within the next 60 days. Meanwhile, “The low sea freight cost due to direct link with Chinese ports, and low port charges will work as compensation for Nepali traders worried about higher cost emanating from longer distance,” said Ashok Kumar Temani, chairman of Road Transport and Transit Committee at the Federation of Nepalese Chambers of Commerce and Industry. He, however, said more and more shipping companies have started providing services using the port. “Considering all the costs, it is beneficial for us to use this port,” he said. The Visakhapatnam Port also completes all documentation processes within 24 hours, whereas the same work takes 7-10 days in Kolkata. Indian ofRicials say Nepali traders should not use the port just to import goods but to export as well.

For instance, Nepal can export pashmina, handicraft items, fruit juice and other food products to southern part of India using this port, according to Sushil Mulchandani, chief operating ofRicer at Visakhapatnam Port. Until now, Nepali exports to India are largely conRined to northern parts of the country. “There is high demand for Himalayan mineral water in south India,” said Mulchandani. Indian ofRicials have said they would make all the arrangements to import goods from south India through this port. Yet one of the hurdles in increasing trade via this port is language. “Nepali businessmen will have to learn the local language. Distance is obviously another problem. Kolkata is more familiar and it is near from Nepal border,” said BC Upreti, a member of Nepal-India Eminent Persons’ Group, adding, “There is a need to disseminate information on advantages of using this port.

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Exports of spices increase 9.58% to $84.022m in one year ISLAMABAD: The exports of spices from the country increased by 9.58 percent during the ﬁscal year 2016-17 compared to exports of the last year. Pakistan exported spices worth $84.022 million during the compared to the exports of $76.677 million in 2015-16, according to the data of Pakistan Bureau of Statistics (PBS). In terms of quantity, Pakistan exported 22,927 metric tons of spices during the period under review against the exports of 19,746 million during last year, showing an increase of 16.11 percent. It is pertinent to mention here that the overall food exports from the country during the ﬁscal year (2016-17) decreased by 6.94 percent.

Thursday August 24, 2017

Business

Dar challenges court’s verdict on panama papers ISLAMABAD

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ederal Minister for Finance, Senator Ishaq Dar challenged the Supreme Court verdict against him in Panama Papers case. The Rinance minister Riled review petition through his counsel Shahid Hamid demanding the court to declare the verdict dated 28.07.2017 invalid which ordered National Accountability Bureau (NAB) to Rile a reference against him for possessing assets and funds beyond his known sources of income. The senator further prayed that the direction in the alleged impugned judgment against him be

IrSA releases 318,000 cusecs water LAHORE

cuStoMS BuLLetIN report

stayed till Rinal order on this petition as it was announced without going through all the record moreover the Joint Investigation Team (JIT) has been overstepped its mandate. Senator Ishaq Dar, took the plea that arguments on the JIT report were

kp govt inks Mou with crec for indentifying rail projects

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he Indus River System Authority (IRSA) released 318,000 cusecs water from various rim stations with inflow of 261,800 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1548.17 feet, which was 168.17 feet higher than its dead level 1380 feet. Water inflow in the dam was recorded as 157,700 cusecs while outflow 210,000 cusecs. The water level in the Jhelum River at Mangla Dam was 1234.85 feet, which was 184.85 feet higher than.

heard by three judges only whereas the Impugned Final Order has been passed by Rive Judges including two who never heard arguments on the said report and/or considered the Petitioner’s objections relating thereto. He argued that the Rinal order of the

pex court pertained to overseeing, supervise and monitor the implementation of the judgment, and oversee the proceedings conducted by NAB and the accountability court in Riling references, by a Judge of this court was violative of Articles 175(2) and (3) and 203 and other provisions of the Constitution of the Islamic Republic of Pakistan. He maintained that “No direction whatsoever was given to the JIT qua the Petitioner. The JIT self-evidently exceeded its mandate by opining on whether or not Petitioner’s assets were disproportionate to his known sources of income and this august Court has regrettably erred in law. A complete record of the income and wealth tax returns from 1983 to 2016 including the period FY 2002-03 to FY 2007-08 were provided to the JIT, the petitioner maintained.

PESHAWAR

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hief Minister Khyber Pakhtunkhwa, Pervez Khattak has said KPK province offers tremendous potential and avenues for investment but unfortunately no one has explored and exploited its resources. He said that government has focused investment facilitation to get diversified advantages for the province. He was talking to a Chinese consulting Company at Chief Minister House here Friday.

On the occasion a Memorandum of Understanding (MoU) was signed with China Railway Engineering Corporation (CREC). KP Chief Minister said that government has initiated different schemes in different sectors to exploit potential advantages of province and make it a financially viable unit. He recalled number of schemes in hydel power generation, industrialization of large, medium and small scale in the province and make the province an investment friendly area adding government was making agreements with both domestic

and foreign investors. Pervez Khattak reminded government’s efforts for bringing efficiency, dynamism and removing obstacles in process of investment facilitation in the province. He invited investors to benefit from attractions that KP province offers to potential investors. He said that government has empowered institutions to work for their strengthening and carry out day today business with more freedom. He also talked about EZDMC, an independent body for investment facilitation in KP province.

Secp oﬃcial gives statement in record tampering case ISLAMABAD

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he Commissioner of the Securities and Exchange Commission of Pakistan (SECP) has informed a magistrate court that the SECP’s suspended chairman is very aggressive, enjoys close personal relation with top oﬃcials of the incumbent government and that is why no one dares to disobey his orders. The SECP Commissioner Tahir Mahmood recorded his statement before Magistrate Malik Farrukh Nadeem, saying that the Chaudhary Sugar Mills case was closed in back dates on the instructions of the SECP’s suspended chairman, Zafar Hijazi. Mahmood said that in a meeting on June 20, Hijazi had asked two SECP oﬃcials, Abid Hussain and Maheen Fatima, to prepare brief statement and specifically instructed them to write that their statements before the JIT probing Panama case were under duress and coercion and JIT forced them to give statements against the chairman. On June 21, he said, Hijazi also called a meeting in his office where Abid, Maheen, Ali Azeem Ikram and Muzzafar Mirza participated and Hijazi once again asked Abid and Maheen to change their statements and when they denied, he got upset and threw laptop of Azeem over the table.

country’s exports increase 10.58 percent ISLAMABAD

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he country’s exports witnessed 10.58 percent increase during the first month of the ongoing fiscal year (2017-18), compared to the corresponding month of last year. Pakistan exported goods worth $1.631 billion in July 2017 compared to the exports of $1.475

billion in July 2016, showing upward growth of 10.58 percent, an official in ministry of commerce told APP. The merchandise imports during the month under review also increased by 36.74 percent compared to July 2016. The imports into the country during July 2017 were recorded at $4.835 billion compared to the imports of $3.536 billion, the data revealed. He said the trade deficit during July 2017 was recorded at

$3.204 billion, which showed growth of 55.46 percent when compared to the deficit of $2.061 billion during July 2016. Meanwhile, on month-onmonth basis, the exports from the country witnessed negative growth of 14.70 percent in July 2017 when compared to the exports of $1.912 billion in June 2017. The imports into the country increased by 6.64 percent in July 2017 when compared to the

imports of $4.534 billion recorded during June 2017, according to the data. Replying to question, the official said the ministry was contributing to the national economy through trade facilitation and liberalization, improve export competitiveness and reduce the cost of doing business. The government is committed in providing direction and diversification to internal trade for en-

hancing supply chains to enhance the country’s exports. “We are working to explore new trade avenues and markets in different regions to get access to these markets for promotion of country’s trade,” he said. He said that new tarde policy mainly targeted the international and internal trade for improving supply chain, enhancing use of technology and providing competitiveness.

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China’s July sugar imports slump to three-year low BEIJING: China’s July sugar imports plunged for a second month to just 60,000 tonnes, the lowest in three years, after Beijing imposed hefty tariﬀs on foreign arrivals in late May and slashed import permits, customs data showed on Wednesday. July imports &lt;SU-CN-IMP> were down 86 percent from 420,000 tonnes a year ago, and down 57 percent from 140,000 tonnes last month, data from the General Administration of Customs showed on Wednesday. “Buyers are running out of quotas. Sugar imports for the next months of this year will remain at a low level,” said Zhan Xiao, analyst with Shanghai Buyun Investment Management, before the data release. China has slashed permits for out-of-quota sugar imports to around 1 million tonnes, almost half of last year’s allowance, as it looks to curb imports that it says have damaged the domestic industry.

FccI to launch awareness seminars FAISALABAD

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Thursday August 24, 2017

Chambers

cDA asked to address traders’ issues of g-15 Sector on priority

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here is dire need to save Rs.650 billion Zakat in addition to Rs.8.5 billions generated from the hides of sacrificial animals to falling in the hands of terrorists and undeserving elements. In this connection, Faisalabad Chamber of Commerce and Industry (FCCI) will launch a series of awareness seminars to educate people about the importance of “safe giving and safe living” project. Addressing a seminar jointly organized by Faisalabad Chamber of Commerce and Industry (FCCI) and IPAD (Initiative for Peace and Development) Senior Vice President FCCI Rana Sikandar-e-Azam said the business community of Faisalabad is acknowledged throughout Pakistan for

its proactive philanthropist acts. They are always extending maximum help to the poor and needy people. “Many of them pay more than the mandatory Zakat of 2.5 percent”, he said and quoted two leading businessmen who are running two full fledged hospitals in addition to managing a large number of schools and colleges where poor patients and students are treated free of cost. Similarly, dozens of FCCI members are independently running free dispensaries particularly in the poor localities of the city, he said and told that Mian Muhammad Idrees has recently announced to bear the entire educational expenses of one thousand students under the System Foundation that has introduced a special program to educate drop out students to pass their matriculation examination within two years.

ISLAMABAD

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halid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry has called upon the CDA to address the key issues of traders of G-15 Sector and focus on better development of this sector in order to facilitate the growth of business activities in the area. He said this while addressing a delegation of newly elected Traders Welfare Association, G-15 Markaz, Islamabad that visited ICCI led by its Secretary General Ch. Zahid Fareed. Khalid Iqbal Malik assured the delegation that ICCI would highlight their major issues at every relevant forum for urgent redress. He also briefed the delegation about the efforts of ICCI for the promulgation of a balanced rent control act in Islamabad. Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry said that Chamber has held many meetings with CDA to address the issues of traders and industrialists and reiterated that such efforts would be continued to redress the problems

of trade and industry. He said Chamber’s doors would also be opened for traders and market unions and assured that ICCI would fully cooperate for resolving the problems of G-15 traders. Speaking at the occasion, Ch. Zahid Fareed, Secretary General, Traders Welfare Association, G-15 Markaz highlighted the issues of his area. He said G-15 sec-

tor was experiencing serious problem of water shortage due to which the business community and residents of the area were facing great difRiculties. He called upon the CDA to take urgent measures for supply water in G-15 Sector. Sardar Ayaz Khan, Patron-inChief of TWA, G-15 Markaz said that due to absence of rent control

Dubai to hold Next generation Africa DUBAI

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he Dubai Chamber of Commerce and Industry will organise and host the fourth Global Business Forum on Africa in Dubai in November, it has said. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and prime minister, will host the two day forum themed “Next Generation Africa.” It will bring together 1,000 top-level participants, including government ofRicials, policymakers, business and Rinance leaders, and entrepreneurs from across Africa and around the world. Delegates will explore the potential of leveraging technology to accelerate growth in Africa, and discuss trade and investment opportunities opening up across the continent. Public

and private sector stakeholders from African nations and countries from the Gulf region will highlight recent economic trends and identify mutual areas of cooperation and growth opportunities in key sectors that offer the most potential for foreign companies and investors. It will also examine the role that Africa’s dynamic young entrepreneurs can play in tackling economic and societal challenges, and explore potential for forming long-term partnerships with the aim of Rilling market gaps and fuelling growth. Hamad Buamim (pictured), president and CEO of Dubai Chamber, noted that this year’s forum comes at a time when Sub-Saharan African economies are experiencing robust growth, and described Africa’s rising middle class and rapid urban growth as two key trends that are creating exciting prospects, which companies

in the UAE stand to beneRit from. Buamim explained that participation and interest in the Global Business Forum on Africa has grown signiRicantly over the last four years, and added that the event now serves as an ideal platform for business, Rinance and government leaders to network, discuss new avenues of cooperation, and develop the fast-growing ties between Africa and Dubai. The global business forum on Africa, the largest event of its kind in the region, is expected to attract a wide range of participants, including top-level government and corporate decision-makers, including African heads of state, ministers and dignitaries, prominent CEOs, heads of private banks, sovereign wealth funds, private equity Rirms, government ofRicials, business leaders, and entrepreneurs. It is part of Global Business Forum series launched by Dubai Chamber.

act, the future of traders was insecure and stressed that ICCI should play role for early enactment of rent control bill into law. Zafar Bakhtawari, Ajmal Baloc, Mian Maqsood, Yousaf Rajput, Khalid Chaudhry and others also spoke at the occasion and stressed upon the CDA to help in resolving issues of G-15 sector.

total buying Maersk oil for $7.45b rench oil company Total agreed Monday to buy Danish conglomerate AP Moller-Maersk’s oil business for $7.45 billion, in a deal that will strengthen its position in the North Sea. Total said the deal will position it as the No. 2 operator in the North Sea, which is the seventh-largest oil-and-gas producing region in the world. It said it will uphold Maersk Oil’s development schedules and investments in a series of projects and that Denmark will become the regional hub for all its operations in Denmark, Norway and the Netherlands. “This transaction is immediately accretive to both cash flow and earnings per share and delivers further growth over coming years,” said Total chairman and CEO Patrick Pouyanne. –CB Report

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Multan ASO impounded two smuggled vehicles of Rs.2m MULTAN: The Anti-Smuggling Organization (ASO) of Customs Collectorate has impounded two smuggled vehicle of worth Rs2 million in their different actions. According to details, Multan Customs AntiSmuggling Organization received tip off that foreign origin vehicle Toyota Hilux Surf is driving on Nishtar Road. Anti-Smuggling Organization vehicle branch formed special team which comprised Inspector Rana Mujtaba Noon, Inspector Maqsood and others to take action against said smuggled vehicle.

Thursday, August 24, 2017

CUSTOMS BULLETIN

customs hyderabad generates rs418.329 million revenue HYDERABAD ASLAM ANJuM QureShI www.customsbulletin.com

he MCC Hyderabad has received Rs418.329million revenue during 16 days of August 2017-18. According to details, Hyderabad and Sukkur divisions have generated Customs Duty of Rs59.345million, Sales Tax of Rs346.673million, Special FED on Imports Rs1.500million and With Holding Tax ofRs10.811 million by August 16, 2017-18. The major tax sources include unit of Sukkur (OMC & Rima cooking oil) SWH, Sukkur Directorate Sukkur Dry Port, Hyderabad Bonded Warehouse BWHs, SWH State Warehouse, Export Hyderabad and KPR (Zero Point) Huffaz Seamless Pipe Industries, Crescent Steel, Omni Polymer Industries, and Pakistan State Oil. The Model Customs Collectorate Hyderabad, Anti-Smuggling Organization (ASO), also impounded Non-Duty-Paid vehicles including three oil tankers filled with110,000 liter of Iranian smuggled High Speed Diesel I (HSD), foreign origin Non-Duty-Paid smuggled cigarettes of different brands including Pine Light of Korea, Reds Virgin of Eng-

land, foreign origin cloths and other contraband items. The computer sets, CPUs of Dell, hard discs, different GB DVDs, laptops auto parts, cosmetics, table lamps, and mobile accessories, motor bikes, automatic juice blenders, door closers, mobile phone sets, mobile

batteries, 1.1million liter of Iranian diesel in the month of July which include three oil tankers worth million of rupees, and other goods worth million of rupees were also confiscated during the month of July 2017-18. Under the supervision of Hyderabad Customs Col-

lector Akhlaq Ahmad Khattaq, Additional Collector Rehmatulah Vistro, Deputy Collector Mushtaq Ali Shahni, Deputy Collector Dry Port Zam Zam Aman, Principal Appraiser Mashuq Ali Panhwar, Appraiser Ashir and Superintendent Statistical Revenue played an im-

portant role in revenue collection, officials said. They added that the anti-smuggling campaign is in full swing in the region following the direction of the Federal Board of Revenue (FBR) and Collector Akhlaq Ahmad Khattaq in order to enhance the revenue generation.

gilgit-Baltistan customs stands surplus by collecting all duties & taxes GILBIT-BALTISTAN

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he Model Customs Collectorate (MCC) Gilgit-Baltistan (GB) received extra all duties and taxes of Rs15.87million during initial 11 days of August Financial Year (FY) 2017-18 against the same period of August Financial Year 16-17. The GB generated

Rs143.28million under all heads during 1st to 11th August FY1718 whereas it did Rs127.41million under all heads during the same period during previous August FY16-17. According to details given by sources of GB that the performance of GB during above said period stayed satisfactory under all heads except Customs Duty against the corresponding August FY16-17. The sources told CT that, during initial 11 days of August FY17-18, the MCC GB earned Rs47.13million as Customs Duty (CD) while it Published by M S Raza Oﬀ# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by (Ibne Hassan Oﬀset Printing Press, Shop No. 33 to 36 , Hockey Stadium, Karachi).

did Rs64.81million of CD during initial 11 days of yesteryear’s August FY16-17. The sources said the GB collected Rs25.21million of With Holding Tax (WHT) during August FY17-18 whereas it did Rs18.89million as WHT during the same period of previous year’s August FY16-17. The sources further told CT that, during 1st to 15th August FY17-18, the GB received Rs70.94million of Sales Tax (ST) while it did Rs43.71million under the same head during corresponding August FY16-17.