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PAKISTAN’S FIRST INDEPTH NEWSPAPER ON CUSTOMS
Daily
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Karachi, Wed August 30, 2017
PESHAWAR
IRFAN BAHADUR
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he Torkham Customs Station of the Model Customs Collectorate Peshawar has generated Rs463.98million revenue from July 28 till August 28, FY20172018. The sources told Customs Today on Monday that the Torkham Customs has collected more revenue due to increased Trade on Pakistan-Afghanistan trade
route on Torkham border. The trade between Afghanistan and Pakistan has faced hard times during the start of the current Financial Year due to which the flow on transit routes decreased. Earlier, the border management of both countries agreed to allow 2,000 stranded vehicles to cross the border which in turn added grand amount of revenue to the collections. The Anti-Smuggling Unit Torkham Customs Station has also added part to collect more revenue during 30 days of
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current FY from July 28 till August 28, 2017-18. The sources lauded the efforts of new Deputy Collector Customs Muhammad Najib Anjum for his strict policies which led to extra earning for Pakistan Customs. Torkham Customs collected Rs150.9651million revenue by counting Customs Duty and has done Rs14.3943million revenue from EDS (F.E). An amount of Rs1.748million revenue was generated on RD (Imports) and Rs3.6283million revenue was received as ESD (Pak) from July 28 till August 28, FY 2017-18.
Stabilized Pak economy attracts handsome volume of FDI: Stuart Dunlop
Post Clearance Audit detects tax evasion of Rs 102.5 million
Customs I&I impounds NDP items worth Rs 10 million
Power sector heads for completion of projects
DG Valuation revises customs value of BOPET / holographic & PET sequin film
Regional Director MENASA ACCA Stuart DunlophassaidthatPakistanmustalsosee | SEE PAGE 02 |
PCA has shown outstanding performance Rs 102.5 million | SEE PAGE 03 |
Directorate of Customs I&I has seized non-customs paid items worth Rs 10 m | SEE PAGE 04 |
Abid Sher has directed the heads of power sector entities to complete | SEE PAGE 11 |
DG Valuation has revised the customs value BOPET / holographic and PET | SEE PAGE 16 |
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Online registration available only for individuals : FBR Wednesday, August 30, 2017
ISLAMABAD: Federal Board of Revenue (FBR) has said that online registration is available only for individuals and not for Association of Persons (AOPs) or company. According to online registration manual, the online registration is only for income tax and not for sales tax. The FBR said that before starting registration, the taxpayer must have:0 read User Guide; a computer, scanner and internet connection; a cell phone with SIM registered against his own CNIC; a personal email address belonging to him; scanned pdf files of: certificate of maintenance of personal bank .
Islamabad
Stabilized Pak economy attracts handsome volume of FDI: Stuart Dunlop
ISLAMABAD
ISLAMABAD
NAEM ULLAH TARIQ
M ARSHAD
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he Customs Appellate Tribunal has reserved a decision on a customs reference filed by M/s Five Star Trading. According to the details, a division bench of the Customs Appellate Tribunal comprising Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the case being contested against Directorate General of Intelligence and Investigations, Islamabad. The tribunal also dated in office the hearing of recently filed customs reference by M/s Kohinoor Trader. Earlier, the bench had dated in office hearing of the matter after directing parties to submit case related documents. Counsels from M/s Five Star Trading had appeared before the bench and demanded time from the bench for finalizing preparations for the case. Customs Appellate Tribunal’s Member Technical, Ziaddin Wazir heard the cases of Raja Nabeel, Waqas Enterprises, Arshad Khan and Musawir Shah had filed the cases. Raja Nabeel had filed the cases against Directorate of Intelligence and Investigation, Islamabad. Other three appellants had filed their cases against Collectorate of Customs, Islamabad.
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egional Director MENASA Association of Chartered CertiQied Accountants (ACCA) Stuart Dunlop has said that Pakistan must also see the big picture and consider the formation of a regional economic union, similar to the European Union. It can create a Pak-Indo-China Trade Union to broaden its economic base. China is investing more than $55 billion in Pakistan to develop infrastructure and large-scale trading. We need to launch large-scale training programs to enrich the competencies of the Pakistani workforce, to successfully operate the numerous ventures being created through CPEC. In an exclusive interview with Customs Today, here he said that Pakistan should aim to optimize the productivity of the extensive roads and rail-network, ports, airports, energy and data-connectivity infrastructures being built rapidly. For this purpose, the need for accountants and Qinancial analysts is simultaneously going to increase. ACCA aims to take every possible step to produce qualiQied accountants and professionals who can ensure transparency and Qinancial growth in CPEC ventures. We can launch numerous training programmers in the Qield of accounting and Qinance, for creating skilled human
Customs tribunal reserves verdict on reference filed by Five Star Trading
resources in the country. “I believe rapid development requires a highly competent and productive work-force with a ‘high-performance culture’ and good work ethics, at all levels. Pakistan’s economy can be transformed by investing heavily in its human resources and skill-development, to nurture a proliQic, secured and swift commercial and regulatory environment” he added. Regardless of the nature of business, every organization needs Qinancial managers and accounting professionals. With the stabilizing
economic situation in Pakistan, the country is attracting a good volume of foreign direct investments (FDI), including the largest trans-national mega-project – the China Pakistan Economic Corridor (CPEC). He added that with an investment of well over $55 billion promised by China for CPEC, Pakistan faces a major challenge to create an efQicient and transparent environment for utilizing and absorbing such a large volume of investments. That is where the profession of Accountancy will beneQit the country’s economy. This revolu-
tionary project promises the emergence of numerous large scale ventures, requiring complex Qinancial management. Hence, accountants will continue to get ample job opportunities in the local market. “For Pakistan to be in a position where it can access new and exciting forms of investments, it is really very positive. What we’ve seen over the last 50 years, is the developed world having a monopoly on the knowledge economy, and the developing world being stuck in the labour-intensive economies” Stuart Dunlop observed.
DC Adjudication orders release of cloths on payment of fine
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ISLAMABAD
M FAIZAN
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eputy Collector Customs Adjudication Dr. Wajid Ali in a case of 3/2017 has passed an Order-In-Original and ordered the conQiscation of cigarettes whereas released the foreign origin miscellaneous goods including cloths on payment of duties and taxes leviable thereon plus a redemption Qine equivalent to 30% of the appraised
value. This was reported that a tipoff was received by the Deputy Collector Customs Preventive Division MCC Islamabad that F/O miscellaneous items would be smuggled from Peshawar through a bus with registration No: B-4475. A raiding party set up a picket on G.T Road, Kamra. The reported vehicle was seen coming from Peshawar side which was stopped by the aforementioned party. A thorough search of the said vehicle led to the recovery of foreign
origin cigarettes and other items. Owners of the goods identiQied as Zahid Ullah S/o Fazal Malik, Muhammad S/o Akbar Khan and Abrar Khan S/o Jan Muhammad were asked for showing the legal documents of the items but they failed to prove anything lawful. So customs ofQicials impounded the goods under Section 168 of the Customs Act-1969. A seizure report was submitted to the adjudication. Prior to the issuance of show cause notice, the respondents sub-
mitted an application for the release of said seized goods on payment of leviable duties/taxes. The Deputy Collector came to a conclusion that the respondents failed to provide valid legal documents regarding the lawful import of the seized foreign origin items. It means that the conQiscated items are non-duties/taxes paid. Moreover, the respondents expressed their willingness to pay duties & taxes on conQiscated goods which is tantamount to a confession that seized foreign origin items
were brought into the country without payment of duties and taxes leviable thereon. The impounded goods in the instant case fall under the category of notiQied goods in terms of Section 2(s) (ii) of the Customs Act-1969. The total appraised value of the conQiscated cloth is Rs156450. There are three owners of the items which, when divided over three owners, is less than Rs150000 therefore it does not fall within the ambit of Section 2(s) (ii) of the Customs Act-1969.
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SHC rules Sindh’s ST on rent of immovable property illegal KARACHI: Sindh High Court (SHC) has ruled Sindh’s sales tax on rent of immovable property declared ultra vires. The case was placed on August, 2017 in the cause list for announcement of judgment before a divisional bench of SHC (Tax DB). The court allowed the constitutional petition where the levy and collection of Sindh Sales Tax on rent of immovable property was challenged. The detailed judgment is expected to be released in coming days. It is important to note that similar matters are also challenged in legal suit before single bench of the SHC as well where the proceedings are not yet concluded.
Customs Exports collects Rs 14.6m during 20 days of August
Wednesday August 30, 2017
Karachi
Post Clearance Audit detects tax evasion of Rs 102.5 million
KARACHI
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he Customs Exports has successfully collected Rs 14.6 million during the first 20 days of August 2017 of the fiscal year 2017-18. Sources told Customs Today that Customs Exports issued 12 show cause notices out of which nine final notices were served on defaulter companies in first 20 days of August. It is necessary to mention here that the Customs Exports successfully collected Rs 38.12 million during the month of July. The Customs Exports ALSO issued show cause notices to one factory in order to collect the evaded tax amount. The customs authorities issued notices to M/s Samama International Company Karachi which is found involved in tax evasion.
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SHC calls remarks on plea filed by M/s S.K Packages KARACHI
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he Sindh High Court (SHC) has directed customs officials to file their respective para wise comments on the next date of hearing on a constitutional petition filed by Shahid Khalid, proprietor of M/s S.K Packages, against alleged harassment by customs authorities. A two-member bench, headed by Justice Munib Akhtar, was hearing the petition filed by the suspect who was allegedly involvement in tax fraud cases. Earlier, counsel for the petitioner stated that he is engaged in the business of purchase and sales/ supply of waste/ scrap paper and non-specialized wholesale trade. According to the petitioner, officials of the Intelligence and Investigation-FBR registered some First Information Reports (FIRs) against tax fraudsters accusing issuance of fake/ flying invoices for claiming input tax against fake input and fake loaded purchases.
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KARACHI
WAQAR AHMED ANSARI www.customsbulletin.com
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he Directorate of Post Clearance Audit (PCA) has shown outstanding performance during the Qirst 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 duty (FED) and income tax. The Directorate served three contravention reports and nine audit observations during Qirst 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 ofQicials 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 ofQicials 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. Meanwhile, Di-
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
Custom Court extends remands of smugglers
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KARACHI
M B RANA
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ustoms Court Judge Syed Faiz Rasool Rashdi has extended the physical remand of four suspects, who were booked in a case of smuggled gold and memory cards worth Rs 25,485,880. The court also directed te investigation ofQicer to produce them on the next date of hearing along with progress report.
During the hearing, investigation ofQicer produced Muhammad Imran, Anila Muhammad Imran wife of Muhammad Imran, Maheen Patel, daughter of Muhammad Imran (father, mother and daughter) and Muhammad Saleem Garman before the court and informed that the prosecution needs further physical remand of the accused persons for collection of evidences, therefore, the court may send them back to the Customs Department. After the hearing, the court sent
them back to the Customs Department on physical remand of two days and directed the investigation ofQicer to produce them on the next date of hearing along with progress report. According to the prosecution, on credible information, team of the customs department intercepted them on Jinnah International Airport Karachi, who were coming from Dubai, and recovered gold jewellery 4900 grams valuing Rs 27,785,000 and 24500 memory cards valuing Rs27,00,880.
rector of Directorate of Post Clearance Audit Customs has moved the Sindh High Court (SHC), challenging impugned judgment of appellate tribunal over exemption of sales tax @ 0% under SRO 509(1)/2007 on consignment of Titanium Dioxide. According to the details, counsel for the applicant stated in its special customs reference application that M/s ICI (Private) Limited imported 15 consignments of titanium dioxide from German.
Rs70b Kachchi canal opening on Sep 15 he 430-kilometre-long Kachchi canal, completed under a Rs 70 billion project to irrigate agriculture land in Balochistan, is expected to be inaugurated on September 15. Around 1,500 cusecs water would be released into the newly- developed canal from Taunsa Barrage on Aug 31 and it would reach Dera Bugti (Balochistan).
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Customs Intelligence unearths Rs39m misdeclaration scam Wednesday August 30, 2017
Lahore
LAHORE: Directorate General of Customs Intelligence and Investigation has detected a Rs39 million worth of misdeclaration scam by an Islamabad-based company. The company imported polyester and wascos fabric from China and got illegal tax relaxation under SRO 1125(1)2011. The Customs Intelligence, on information, started investigation against the importer. During investigation, it was revealed that the company is not among the active taxpayers and it got benefit of the said SRO by giving wrong information. The concerned Regional Tax Office could also not find any tax record of the company. Illegally utilising the SRO, the importer filed only three per cent sales tax instead of 17 per cent.
FTO hears case of filed by proprietor of M/s Rehmani Metal Traders LAHORE
SAJID NAWAZ
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he Federal Tax Ombudsman (FTO) has postponed a case Qiled by proprietor of M/s Rehmani Metal Traders against the Corporate Regional Tax OfQice (CRTO) Lahore until the next date of hearing. According to the details, FTO Consultant Tariq Yousaf heard the complaint number FTOLHR//000042/17 of Muhammad Ashraf, proprietor M/s Rehmani Metal Traders in which the counsel for the appellant argued that the RTO has not released the refund to the appellant for the last three years. He said that the RTO collected excessive tax from the company during the last three years. The company approached the ofQicer
Judicial remand of smuggler approved he Special Federal Court of Customs Taxation and Anti-Smuggling has approved a 14-day judicial remand of the accused apprehended in mobiles smuggling case. According to details, accused Abdul Waheed and Agha Wali were arrested by the customs intelligence authorities from The Mall. The customs intelligence and investigation team presented them before the customs court for getting their physical remand to investigate more on the issue. Both accused were supplying these mobile phones to some traders of the Hall Road which is a largest mobile phones market of Punjab. The customs intelligence team intercepted them on The Mall and recovered a huge quantity of mobile phones of different brands. The customs intelligence has recovered 324 mobile phones of which value is more than Rs6million in the local market. –CB Report
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concerned many time for issuance of the refunds but the department did not pay the refunds after the passage of reasonable time. Finally, the appellant decided to approach the FTO seeking interference in this case. The counsel appealed the FTO advisor to direct the RTO to clear the refund claims. The counsel further said that the delay in issuance of refunds put burden on the taxpayers, adding that the CRTO should make audit of the cases and release the extra amount collected by it from the taxpayer. On the other hand, counsel for RTO argued that the appellant has not submitted all record in the ofQice on which basis it is claiming for refunds. If appellant provides accurate record, the RTO will issue the refunds if any after proper assessment, he added. After hearing the arguments from both sides, Consultant Tariq Yousaf adjourned the case.
Customs I&I impounds NDP items worth Rs 10 million LAHORE
M HAYAT
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irectorate of Customs Intelligence and Investigation has seized non-customs paid items worth Rs 10 million from various places in and around the city. The items were loaded on four Mazda trucks. OfQicial sources told Customs Today that a customs team intercepted a truck near Shera Kot bearing registration no: LES/ 2901 and recovered non-customs paid items worth millions of rupees. Sources said that the truck was owned by M/s Lucky Star Goods Transport Company and these goods were loaded from their godowns. In another incident, the customs authorities intercepted a Mazda truck bearing registration no: LXE 2811 of M/s Al Saad Goods Forwarding Company near
Court approves physical remand of two accused in mobiles smuggling
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he Special Federal Court of Customs Taxation and AntiSmuggling has approved a two-day physical remand of two accused arrested in a smuggling case of mobile phones. According to details, accused Noor Gull and Muhammad Tahir were apprehended by the Customs Intelligence authorities of Lahore while they were making an attempt to smuggle 665 mobile phones from Peshawar into Lahore through the Motorway. The Customs Intelli-
gence authorities at the Motorway found a suspected car that carried the smuggling mobile phones of different companies. The cell phones of Samsung, Apple and Oppo were loaded in the car. The customs team conQiscated all the mobile phones and held two accused identiQied as abovementioned who belonged to Peshawar. The value of the smuggling cell phones is Rs11million in Pakistani market. The accused had brought the mobile phones from Afghanistan. –CB Report
Band Road and seized goods worth million of rupees. In the same way, the customs authorities impounded a Mazda truck from the possession of New Khan Goods Transport near Mcleod Road and another Mazda of M/s Swat Goods Forwarding Company was seized by the authorities near Circular Road. It was stated that these
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Mazda trucks were loaded with mobile accessories, LEDs, motor cycle parts, dry machine, refrigerator pipes and Pizza makers worth millions of rupees. The non-customs paid items were to be supplied in the city markets including Hall Road, Lahore Hotel and other markets located in the different parts of the city.
Hearing of case filed by Famal Rug adjourned he Federal Tax Ombudsman (FTO) has adjourned the hearing of a case Qiled by M/s Famal Rug Weavers Private Limited against Regional Tax OfQice (RTO), Sialkot until next hearing. According to the details, Consultant to Federal Tax Ombudsman Tariq Yousaf heard the complaint number FTO-LHR/0000171/17 Imtiaz Ahmed Butt, owner of M/s Famal Rug Weavers Private Limited in which the counsel for the appellant argued that the respondents failed to make payment of tax refunds to the company.
At the end, the appellant decided to approach FTO to interfere in the case and direct the tax authorities to clear refund claims as early as possible, the counsel said, adding that the RTO should clear refund of excess collection by the end of year but it failed to do so. On the other side, tax department representative argued that Sialkot RTO ready to settle the refund claim issue, if appellant will provide accurate record to the ofQice. He added that refunds will be issued after proper assessment and scrutiny of the record. –CB Report
Customs tribunal upholds ONO in NDP Land Cruiser
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LAHORE
SAJID NAWAZ
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he Customs Appellate Tribunal has rejected an appeal Qiled by Additional Director, Directorate of Intelligence and Investigation-FBR Gujranwala, against Muhammad Luqman, a resident of Gujranwala, Shamraiz Khan and Ad-
ditional Collector of Customs (Adjudication) Customs House Lahore. According to details, Member Technical Bench-II Imran Tariq heard the case in details and passed the order that appellant has failed to prove his case, so the appeal has not been accepted. According to details, Superintendent of Intelligence and Investigation was informed that a Toyota Land Cruiser was smuggled and being plied
in the vicinity of District Gujranwala. The vehicle was intercepted by the staff of the Directorate or Intelligence and Investigation-FBR Gujranawala. To a query, the driver failed to produce any legal documents regarding the lawful import of vehicle and the same was impounded under Section 2(KK) read with Section 17 of the Customs Act1969. After a complete examination of the vehicle, the case was referred to
the adjudication authority which passed the Order-In-Original that the vehicle was released to the lawful owner unconditionally. The Customs Department has challenged the OrderIn-Original in the Customs Appellate Tribunal on the grounds that the seizure of the vehicle was based on the accurate facts and within the legal jurisdiction of seizing agency and the impugned order is bad in law.
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LAHORE M HAYAT www.customsbulletin.com
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he Customs Preventive Anti-Smuggling Organization (ASO), in pursuance of information, intercept a Bedford truck bearing registration no: RIG-6895 loaded with foreign origin 6,000 kilogram curtain and sofa cloth concealed under the bags of vegetables leafs. The market value of the seized cloth is Rs 4 million. Sources told Customs Today that Collector Customs Preventive Mohammad Sadiq received information that some smugglers were trying to smuggle a huge quantity of non-duty paid curtain and sofa cloth. He constituted a raiding team under the supervision of Deputy Collector Moazzam Raza which also comprises Superintendent Nasir Minhas, Deputy Superintendent Mansoor Elahi, Inspector Shahid Bhatti, Inspector Javed Iqbal Butt and Inspector Abdul Ghaffar. It is necessary to mention here that Customs anti smuggling teams expedited their efforts to curb smuggling attempts in the region. Collector Customs Preventive Mohammad Sadiq already directed all anti smuggling squads to adopt zero tolerance policy towards smuggling. Meanwhile, Following the instructions issued by the newly posted Collector of Custom Collectorate of Preventive Faiz Ahmad, the Anti-Smug-
Wednesday, August 30, 2017
gling Organization (ASO) has intensiQied its antismuggling operations while Qield force has been strictly instructed to follow the instructions in combating and curtailing smuggling activities Sources told Customs Today that ASO Deputy Collector Muhammad Moazzam
ntive Preve s m o t s ived tor Cu iq rece Collec d a S d gglers mma e smu m Moha o s t tha huge ation ggle a u m s inform o t rtain rying aid cu p y t u were t non-d h ity of fa clot quant and so
Raza, in a meeting held here, has instructed the ASO staff to initiate crackdowns against big smugglers and bring them to book. It was informed that in order to effectively control smuggling under the jurisdiction of the Collectorate, all the scouts of the anti-smuggling units have been given monthly targets besides monitoring of the scouts has also been made enhanced through the implementation of latest software. The sources said that this year’s fresh recruitments of spoyes and other staff have been completed and the thing will get even batter and the ASO will be successful in creating deterrence to a great extent at the boarders and roads and operations at the market places are also on. It was added that acting upon the strategies adopted by the Customs Preventive ASO have started conducting a number operations which, the ASO authorities hoped would result in thumping success in terms of mega seizures of illegally imported vehicles items. It is also necessary to mention here that due to strict measures adopted by Customs Collectorate of Preventive there is marginable decrease is being witnessed in smuggling attempts in and around city in recent days.
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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
FTAs and business as usual
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ree trade agreements are signed to boost bilateral trade with partner countries but in Pakistan’s case most of the agreements have adversely affected the local business and industry. According to newspaper reports, Pakistan’s imports have jumped by 300 percent during the last three years thanks to blind signing of FTAs. In a situation where exports have constantly been declining, the increase in imports means increase in trade deficit, which has now crossed an alarming level of $32 billion. At last, the burden of mismanagement is laid on the foreign exchange reserves. The country’s political scenario has recently changed with ouster of former prime minister Nawaz Sharif and ensuing chaos has created a vacuum to be filled by second and third tier politicians. God forbid, the country is being pushed toward anarchism as all the external and internal forces are active to disturb peace not only in Pakistan but also in the region. The undue pressure from unserious US president is adding insult to injury which will not only jeopardize regional peace but also economy. The government, on the other hand, seems caught between devil and deep blue sea. According to experts, the local industry lacks ability to counter and compete with the products dumped by the countries with which we have free trade agreements. Therefore, there is a need to review and revise FTAs to maintain trade balance in favour of all sides. The FTAs should not be signed at the cost of the local industry. The Federation of Pakistan Chambers of Commerce and Industry has already demanded the government revisit the sections of the free and preferential trade agreements in coordination with partner countries to improve the situation.The FTAs are the integral part of the world economy and are signed for the cause of mutual benefits and protection of Pakistan’s economic interests. However, there is a need to negotiate terms and conditions of agreements before they are signed. It appears the Pakistani officials lack abilities and capacities to negotiate with the partner countries. The free trade agreements and preferential trade agreements have so far paved the way for influx of foreign goods in local markets. The cheap and substandard foreign products have negative impact on the local industry.
Initiatives by State Bank governor A
LAHORE
DR AFTAB AFZAL
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ccording to newly appointed State Bank Governor Tariq Bajwa, there is a need to establish strong coordination between the central bank and the business community for the promotion of trade and industry. The State Bank’s role in regulating the economy and maintaining financial stability is crucial as it is the guard of the national wealth. However, until now this vital institution is marred by monotonous practices and official rigmarole like other departments of the government. The disproportional devaluation of the Pakistani rupee under the
duress of pressure groups has caused tremendous loss to the national economy. The Pakistani rupee has been allowed to melt against dollar and other major and minor currencies of the world for years. Once two Thai bahts were equal to one rupee but now one baht is equal to over three Pakistani rupees. On another note, Egypt went through various tumultuous situations and political chaos but never devaluated its currency. A stable currency is guarantee to stable economy. However, it is good omen that only the current finance minister has ensured stability of the Pakistani rupee, otherwise, the rupee had always been devaluated for short term
gains, which ultimately brought long term losses to the economy. Mr Bajwa as former head of the Federal Board of Revenue and Secretary of Finance Division is well aware of the economic situation and financial health of the country. His admission to the contribution of trade and industry in the economy shows he is serious in developing deep coordination between the State Bank and the business community. It is also commendable that he is visiting various chambers of commerce and industry across the country to coordinate with businessmen and develop practical policies for betterment of the economy. The government is facing various internal and external
challenges, including poor security situation, energy crisis and threats from the United States and India. In a situation of chaos, it will be a big success to keep the financial and economic affairs in running mod. The governor will have to encourage disbursement of easy loans to the local industry to enable it to produce export surplus. The trade deficit is increasing at a fast rate as imports of capital goods have increased. Pakistan has made good progress in small and medium enterprises but the credit goes to individual efforts. However, this sector needs government attention to improve its performance and that is what Mr Bajwa is going to do. Bravo.
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FBR makes it mandatory to mention offshore companies in tax returns LAHORE: Federal Board of Revenue (FBR) has launched new income tax returns forms 2017. This form is separately designed for individuals and association of persons. According to details, in the newly introduced income tax form, the taxpayers have to mention their source of income. FBR declared in this form that all types of business, investment, rented properties should be mentioned in this form, while income from other sources such as agriculture land must be declared in this form. An official of Inland Revenue Policy told that all the recommendations of Finance Bill are included in this form. It is necessary to mention here that all these recommendations are already passed by the Parliament.
NTHRI identifies over 64,000 acres of land for tea cultivation
Wednesday August 30, 2017
National
NAB investigating over 600 persons including Sindh MPAs, bureaucrats
ISLAMABAD
CUSTOMS BULLETIN REPORT www.customsbulletin.com
ational Tea and High Value Crop Research Institution (NTHRI) Shinkiari has identified over 64,000 acres of land for tea cultivation in order to fulfill the domestic requirements of the commodity as well as export. The NTHRI has established a tea nursery over an 35.5 acres and had developed 8 tea varieties which would help in saving the billion of Dollors being spent on the import of tea to tackle with the domestic requirements, said Director NTHRI Dr Hamid. He said that as many as eight varieties of tea plants have been developed and demonstrated in different ecologies. These varieties have
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shown tremendous results and was fit for cultivation at large scale for starting the tea production on commercial basis, he added. He further informed that a vast areas of districts of Mansehra, Battagram and Swat including some areas of Azad Jammu and Kashmir were identified for the cultivation of tea. He said that all the arrangements from the front of research and development has been done and there was only need of some practical steps by the federal and provincial governments to commercialize the tea production. In order to fulfill the demand of skilled labour force and promote the tea cultivation, NTHRI was also providing the technical assistance and trained farmers. The NTHRI has also started in collaboration with academia has started MPhil and PhD degree programmes on tea cultivation and production to attract the private sector to exploit this sector, which was still untapped.
KARACHI
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he National Accountability Bureau (NAB) has started inquiries and investigations against more than 600 persons, including 15 lawmakers, mostly sitting MPs belonging to the PPP, in Sindh. This was revealed when a list was submitted to the larger bench of the Sindh High Court by NAB’s prosecutor-general during the hearing of identical petitions challenging Sindh government’s anti-corruption law that clipped NAB’s powers in the province. Interestingly, deputy director of the provincial anti-corruption establishment, Dr Agha Aijaz Ali Pathan, is also facing graft inquiry under the NAB Ordinance 1999, which the ruling PPP is opposed to and has repealed. The list showed three sitting legislators – two belonging to the MQM and one to the PML-N. According to the list, PPP lawmakers facing graft allegations include Sindh Law and Prisons Minister Ziaul Hasan Lanja and Livestock, Fisheries and Environment Minis-
ter Muhammad Ali Malkani. The other MPAs in the list include former information and local government minister Sharjeel Inam Memon, former minister excise, taxation and wildlife Gian Chand Israni, former Zakat and Ushr minister Dost Muhammad Rahimon, Dr Abdul Sattar Raj-
par, Haji Abdul Rauf Khoso and Aijaz Ali Helepoto. The former legislators include ex-petroleum advisor and former MNA Dr Asim Hussain and exMPAs Nasrullah Baloch, Ghulam Qadir Palijo and Agha Tariq. The MQM’s sitting MPAs Abdul Rauf Siddiqui and M Adil Siddiqui also face corruption in-
quiries while PML-N’s Ejaz Shah Shirazi is also being probed. Also on the list is former Karachi city Nazim, now leader of the Pak Sarzameen Party, Mustafa Kamal. The list includes ofQicers from almost all departments of the provincial government and agencies of the local governments.
ATIR adjourns hearing of petition filed by Pak Telecom ISLAMABAD
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ppellate Tribunal Inland Revenue (ATIR) dated in office hearing on a tax matter with directives to submission of reply before next date of hearing in a case remanded back by the Islamabad High Court. According to the details, Account Member Dr Ghulam Mujtaba Bhatti heard the matter after being remanded back to the tribunal. M/s Pak Telecom Mobile Limited had filed the case contesting a show cause notice issued by the field offices of Federal Board of Revenue (FBR). According to details, M/s Pak Telecom Mobile Limited had challenged recovery of issued to it in head of outstanding income
tax by the LTU, Islamabad. Pakistan Telecom Mobile Limited had submitted the department had issued the demand for the tax year 2013 in head of income tax under provisions of Income Tax Ordinance, 2001. Federal Board of Revenue (FBR), officers of LTU including Commissioner Inland Revenue, Commissioner Inland Revenue (Appeals) and ATIR. Appellant had challenged the decision claiming that it taken in violation of law and the department did not fulfill the legal obligation while deciding the matter. The appellant had prayed the tribunal to hear the matter and decide in light of law and provide it lawful relief in this regard. Meanwhile, Despite lapse of months, the Federal Ministry of Law and Justice has not ap-
pointed registrar of the Appellate Tribunal Inland Revenue (ATIR). According to the information available with ministry’s online pages, the ministry had yet not appointed new registrar of the Appellate Tribunal Inland Revenue. Hence, the office of registrar has been lying vacant for the last five months. It is noteworthy here that former registrar of ATIR, Zahid Habib relinquished the post on September 10 following the orders by Ministry of Law and Justice. According to ATIR officials, lower staff of tribunal was performing affairs supposed to be performed by the registrar. As the tribunal still run all affairs under ‘centralized system’ in which all regions reports to the headquarters in Islamabad,
therefore, the tribunal was in dire need to new registrar, they added. According to ATIR staffers, the tribunal and regional offices are functioning without a registrar for nearly five months now. Ministry of Law and Justice had barred Registrar of Appellate Tribunal Inland Revenue (ATIR), Zahid Habib from performing his duty as tribunal’s registrar last week September 10. According to ATIR officials, former registrar had relinquished the charge following the ministry’s order in which it had barred Habib from performing duty as ATIR registrar. According to details, Ministry of Law and Justice had repatriated Habib in account of a complaint challenging his appointment as registrar of tribunal.
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Chief Commissioner Naushad Ali Khan to retire in November Wednesday August 30, 2017
National Bilal Hassan assumes charge as Addl Director of Faisalabad I&I-IR
ISLAMABAD: Naushad Ali Khan, an Inland Revenue Service officer of BS-21, is going to retire from the government service on attaining the age of superannuation. The officer, presently posted as Chief Commissioner, Large Taxpayers Unit, Islamabad shall stand retired from Government service with effect from November 20.
Three Customs Secretaries assume charge on promotion to BS-19
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ilal Hassan, an officer of Inland Revenue Service, has assumed the charge as Additional Director (BS-19), Directorate of Intelligence & Investigation (IR), Faisalabad. The officer, in pursuance of Board’s Notification No. 2205-IR-I/2017 dated 17.08.2017, relinquished the charge of the post of Additional Director (OPS) (BS-18) Directorate of Intelligence & Investigation (IR), Faisalabad with effect from August 17. Meanwhile, Shah Bano GM Khan, a BS-20 officer of Inland Revenue Service, has assumed the charge as Commissioner-IR. Shah Bano, pursuing the Board’s Notification No. 2123IR-I/2017, dated 09.08.2017, took the charge of the post of Commissioner-IR (IP/TFD) at Regional Tax Office II, Karachi with effect from August 11.
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Fayyaz Anwar takes charge as Director IPR (Enforcement) ayyaz Anwar, a Pakistan Customs Service officer of BS-20, has taken charge as Director, Directorate General of IPR (Enforcement). The officer, pursuing the Board’s Notification No.2106-C-II/2017 dated 07.08.2017, relinquished the charge of the post of Director, Directorate of Transit Trade, Peshawar with effect from August 15 and assumed charge of the post of Director, Directorate General of IPR (Enforcement), Islamabad on August 16. Meanwhile, Dr Naeem Aijaz Qureshi, a Pakistan Customs Service officer of BS-20, has assumed the charge as Collector. The officer, in pursuance of Board’s Notification dated 2106-C-II/2017 dated 07.08.2017, took the charge of the post of Collector at Collectorate of Customs. –CB Report
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hree Pakistan Customs Service ofQicers have assumed charge as Secretary after their promotion to BS-19. Muhammad Arshad Hayat Chaudary relinquished the charge of the post of Secretary (OPS), (BS18), Federal Board of Revenue (HQ), Islamabad on August 17 and took the charge of the post of Secretary (BS-19), Federal Board of Revenue (HQ), Islamabad on the same date. ShaQiq-ur-Rehman relinquished the charge of the post of Second Secretary (BS-18), FBR (HQ), Islamabad on August and assumed the charge of the post of Secretary (BS-19), FBR (HQ), Islamabad on the same date. Naveed Iqbal relin-
quished the charge of the post of Second Secretary (BS-18), FBR
(HQ), Islamabad on August 18 and assumed the charge of the post of
Secretary (BS-19), FBR (HQ), Islamabad on the same date.
Collector Adjudication issues show cause to M/s Telenor for evading tax of Rs 16.83m C
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ollector Customs Adjudication Ihsan Ali Shah has issued a show cause notice to M/s Telenor Pakistan (Private) Limited under section 180 of the Customs Act 1969, calling upon the company to why the evaded amount of Rs 16.83 million should not be recovered from them and why a penal action should not be taken against them under section 156 (1), (14) of the Customs Act, 1969. It was reported by the Principle Appraiser AFU, BBI Airport that the Directorate General Audit and Petroleum, during the scrutiny of record of AFU Imports for the year 2012-13, observed that M/s Telenor Pakistan (Private) Limited imported 595 consignments consisting of repaired plant, machinery, equipment, apparatus and
parts and cleared the same under beneQit of sixth schedule to the Sales Tax Act, 1990. The beneQit was inadmissible
because the customs duty was charged at statutory rate under respective PCT headings. The beneQit of sixth schedules was admissi-
ble only if condition for zero rating of customs duty had been fulQilled and the duty had been charged at the rate of zero percent.
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Ahmad Rauf takes over charge as Sialkot Collector ISLAMABAD: Ahmad Rauf, a Pakistan Customs Service officer of BS-19, has taken charge as Collector (OPS). The officer, in pursuance of Board’s Notification No.2106-C-II/2017 dated 07.08.2017, relinquished the charge of the post of Director (OPS), Directorate of Post Clearance Audit, Lahore with effect from August 10 and assumed charge of the post of Collector (OPS), Model Customs Collectorate, Sialkot on August 15.
NAB recovered Rs50b, filed 150 references ISLAMABAD
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hairman National Accountability Bureau (NAB) Qamar Zaman Chaudhry has stated that the organization had recovered Rs 50 billion and filed 150 references against the corrupt people. Talking to media during his official visit to Vienna, Austria, he said corruption is just like a cancer and mother of all evils. Therefore, we shall have to root out corruption with iron hands through a holistic and workable Anti-Corruption Strategy. He said NAB’s Anti-Corruption Strategy was appreciated globally as in Pakistan the Bureau during period of more than three years of present management has filed 150 corruption references in the respective Accountability Courts and received Rs. 50 billion from corrupt
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people and deposited in the national exchequer. He said the NAB has also introduced a new System of Combine Investigation Team (CIT) to benefit from the experience and collective wisdom of senior supervisory officers. NAB’s officers and officials are following strict Code of Conduct and SOPs and merit according to law. Starting from the year 2014 which can be called basically a year of reinvigoration of NAB, he said, we have moved with new zeal and effort. During the tenure of present management of NAB, the overall conviction ratio in respective accountability courts is about 76 per cent which is excellent as compared to any other anti-corruption agency. He said that NAB has established its first Forensic Science Lab (FSL) at NAB Rawalpindi which has facilities of Digital Forensics, Questioned Documents and Fingerprint Analysis. This is a great achievement for Pakistan due to NAB efforts, he said.
Wednesday August 30, 2017
National
Customs Appellate Tribunal adjourns hearing of references filed against FBR
M/s Marvellous Business Solution moves SHC seeking exemption in tax KARACHI
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/s Marvellous Business Solution (Private) Limited has moved the Sindh High Court (SHC), seeking exemption in duty and taxes on consignments of LED bulbs etc as entitled under 5th Schedule of the Customs Act, 1969. According to the details, counsel for the petitioner stated that the petitioner is engaged in the lawful business of import of LED bulbs etc and always fulfills all the liabilities. He said that the petitioner imported consignment of LED bulbs 12 watts, 15 watts, 18 watts, 25 watts, 40 watts and other related goods and filed goods declaration under availing exemption as entitled under 5th Schedule of the Customs Act, 1969. However, officials of the Customs Collectorate Appraisement West did not accept the assessment made by the petitioner on the pretext that the petitioner’s goods are not entitled for relevant exemption as per assessment. Citing chairman Federal Board of Revenue, Collector of Customs Collectorte Appraisement West, the Engineering Development Board, Alternate Energy Department Board as respondents, petitioner pleaded the court to declare the act of the respondents as illegal, mala fide and arbitrary.
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ustoms Appellate Tribunal dated in ofQice hearing of couple of customs matters involving Qield ofQices of Federal Board of Revenue (FBR). Customs Appellate Tribunal’s bench comprising Members tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the matters and adjourned for further arguments. M/s Klaguardia Logistics and M/s Trade Master had Qiled the references against Collectroate of Customs, Islamabad. The bench also directed the counsels to ensure presence before the bench on next date of hearing for further arguments. Earlier the bench had reserved decision on a customs reference Qiled by M/s Five Star Trading. Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the case being contested against Directorate General of Investigation and Intelligence, Islamabad. Customs Appellate Tribunal also dated in ofQice hearing of recently Qiled customs reference Qiled by M/s Kohinoor Trader. Counsels from M/s Five
Star Trading had appeared before the bench and demanded time from the bench for Qinalizing preparations for the case. Customs appellate tribunal’s Member Technical, Ziaddin Wazir heard the cases of Raja Nabeel, Waqas Enterprises, Arshad Khan and Musawir Shah had Qiled the cases. Raja Nabeel had Qiled the cases against Directorate of Intelligence and Investigation, Islamabad. Other three appellants had Qiled
their cases against Collectorate of Customs, Islamabad. The appellants had Qiled cases against Directorate General of Investigation and Intelligence, Islamabad and Collectorate of Customs, Islamabad. The tribunal had also heard cases Qiled by M/s Trade Master, M/s Waseem Autos, M/s Nisar Traders, M/s Parts and Parts, M/s Chief Autos, M/s Aman Elahi, and M/s Kohinoor Traders had Qiled these references.
Seafood exports increase 12.19% in July
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he exports of Fish and Fish preparations witnessed an increase of 12.19 percent during the month first month of the current fiscal year as compared to the export of same month of last year. The exports of fish and fish preparations during July 2017 were recorded at $12.473 million compared to the exports of $11.118 million in July 2016, showing upward growth of 12.19 percent, according to the data released by Pakistan Bureau of Statistics (PBS).
In terms of quantity, Pakistan exports 4821 metric tons of seafood in July compared to the exports of 3693 metric tons in July 2016, showing growth of 30.54 percent. However, on month-on-month basis, the seafood exports from the country witnessed decreased of 57.45 percent in July 2017 when compared to the exports of $29.312 million in June 2017, the data revealed. In terms of quantity, the exports of fish and fish preparations decreased by 59.19 percent in July 2017 when compared to the exports of 11.812 metric tons in May 2017. It is pertinent to mention here that the overall food group ex-
ports from the country during the first month of the current fiscal year increased by 34.74 percent by growing from $186.180 million in July 2016 to $12.473 million in July 2017. On month-on-month basis, the overall food exports, however, decreased by 12.30 percent in July when compared to the exports of $29.312 million in June 2017, according to the data. It is pertinent to mention here that the overall merchandise exports from the country witnessed 10.58 percent increase 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. On the other hand, the imports during the first month of the current fiscal year (July 2017) 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. Based on the figures, the traded deficit during July 2017 was recorded at $3.204 billion, which shows growth of 55.46 percent when compared to the deficit of $2.061 billion during July 2016.
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World Customs
Vietnam’s trade deficit with Thailand hits $3 billion
HANOI: Vietnam’s trade deficit with Thailand stood at nearly 3 billion USD in the first seven months, up nearly 25 percent over the past year, as it imported more than 5.6 billion USD worth of goods from Thailand and exported only 2.6 billion USD of goods to the country, according to the General Department of Vietnam Customs. Strong increases were seen in imports of numerous Thai products, including vegetables and fruits, oil and gas, chemicals and chemical products, machineries and equipment, automobile and automobile tools and spare parts, computers, electronics and parts.
Wednesday August 30, 2017
Customs, Border Protection seizes $400K of crystal meth
Maersk to sell oil unit to Total in $7.45b deal COPENHAGEN
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ustoms and Border Protection officers seized over $400,000 worth of crystal meth at a Laredo port of entry. The seizure happened, August over at the Colombia-Solidarity Bridge when a CBP officer referred a 2011 Chevrolet Silverado for secondary inspection. A canine and officer inspected the vehicle and discovered ten cans allegedly containing 10 pounds of crystal methamphetamine with an estimated street value of $440,920. CBP officers seized the vehicle and the narcotics and the case was turned over to Homeland Security. Meanwhile, In a time-honored tradition, Arlington, Va., native and Annapolis, Md., resident Casey Durst formally assumed command of US Customs and Border Protec-
Indonesia, Pakistan opt for concession on 20 items ndonesia and Pakistan have agreed on concession for 20 different items during bilateral negotiation under Preferential Trade Agreement (PTA). Both sides discussed 20 tariff lines and Indonesia agreed to give concession on major exports from Pakistan including rice, textile, ethanol, kinnow and mangoes during renegotiation on PTA, senior official of Ministry of Commerce told APP here on Sunday. Concession on 20 tariff lines was major success of Pakistan and now Pakistani kinnow export to Indonesia will increase from 18 to 35 million tons and mangoes exports will increase to 10 million tons in a year, he said. The official said that before PTA, Indonesia granted only two months for export of Pakistan’s kinnows and mangoes but now after renegotiation, Pakistan can export these fruits to Indonesia for the whole year and any time-limit was removed. –CB Report
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tion’s (CBP) Baltimore Field Office. She oversees CBP border security and trade and travel facilitation operations throughout the mid-Atlantic states. Durst previously served as the Area Port Director of St. Albans, Vt,, in command of 18 ports of entry throughout Vermont and New Hampshire. Durst took
over for the departed Augustine Moore, who serves at CBP headquarters. “I am humbled and honored to join the men and women of the Customs and Border Protection Baltimore Field Office as we work relentlessly to secure our nation and our way of life,” Durst said during the ceremony.
Canadian province Alberta sees lower revenues on weak oil prices
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anada’s largest crude-producing province Alberta downgraded its 2017-18 revenue forecast on Wednesday because of lower-thanexpected oil prices that have battered the once-booming economy. In a Qirst quarter update the government said total revenues are likely to be C$44.4 billion this Qiscal year, C$648m lower than expected in the annual budget, and downgraded its U.S. crude oil price CLc1 assumption to $49 a barrel
from $55 a barrel. U.S. crude was last trading at $48.28 a barrel. The government’s budget deQicit forecast was unchanged at C$10.5b with the revenue shortfall offset by using C$250m from the C$500m budgeted for risk adjustments, and an extra C$200m in targeted savings. Alberta is home to Canada’s oil sands, the world’s thirdlargest crude reserves, and has been hard hit by the collapse in global crude prices. –CB Report
otal is buying Maersk Oil in a $7.45 billion deal which the French oil major said would boost its earnings and cash Qlow, and bolster its dividend prospects. Danish company A.P. Moller-Maersk is selling its Maersk Oil division to Total to focus on other activities including its shipping business. Under the terms of the deal, A.P. Moller Maersk will get $4.95 billion in Total shares and Total will assume $2.5 billion of Maersk Oil’s debt. Maersk said it plans to return a “material portion of the value of the received Total S.A. shares” to shareholders in 2018 and 2019 in the form of extraordinary dividend, share buyback or distribution of shares in Total. The world’s top oil companies have been back on the takeover trail over the last year,
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helped by signs of a recovery in the oil market. Meanwhile, Denmark’s A.P. Moller Maersk gave an upbeat outlook for container shipping, lifting its shares by as much as 4.5% as investors looked beyond one-off second-quarter charges and a costly cyber attack on its operations. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lacklustre global trade and a glut of available ships for hire. The firm also said it expected a $200mn to $300mn bill primarily in the third quarter from a June 27 cyber attack that disrupted its container shipping operations for weeks. But its chief executive Soren Skou, who has staked his future on Maersk as a transport business, said the container shipping industry is showing signs of recovery this year as freight rates have picked up, while overcapacity is easing as orders for new vessels fall and existing ones are scrapped.
Italy economic growth optimism up taly’s economic recovery extended for a tenth straight quarter, boosting optimism that growth can become sustainable this year amid a rise in industrial production. Gross domestic product expanded 0.4% in the three months through June, the same as in the Qirst quarter, Rome-based statistics agency Istat said in a preliminary report on Wednesday. That matched the median of 26 analysts’ estimates in a Bloomberg survey. The GDP performance “is the result of an increase in the added value of manufacturing and services,” said Istat which will provide a detailed break-
down of the GDP performance on Sept. 1. Should the economy keep rising at the same pace in the rest of 2017, Italy’s GDP would grow an annual, workday-adjusted 1.5% this year, Istat also said. Although still lagging behind eurozone peers, the Italian economic recovery looked more convincing this year with industrial output expanding a seasonally adjusted 1.1% in the second quarter and a rise in exports of Italian goods over the same period despite the stronger euro. The euro-region’s third-largest economy will expand 1.2% this year and 1% in both 2018 and 2019. –CB Report
Germany runs deficit despite record tax revenues
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ermany recorded a budget deQicit in July as growing public expenditure outweighed a rise in tax revenues, an ofQicial monthly report showed Monday. The German government posted a loss of 8.4 billion euros (9.91 billion
U.S. dollars) between January and July, threatening to undermine the country’s global reputation for Qiscal stability. Monthly Qluctuations make it currently impossible to foresee whether the government will still achieve its annual objective of not increasing the debt. German Qinance minister Wolfang Schaeuble has succeeded in running consecutive budget surpluses since 2014, a policy that is
not uncontroversial amongst economists. Nevertheless, July’s Qigures released on Monday are still noteworthy, as they coincided with a simultaneous boost in tax revenues. Public income from taxes shot up by 9.2 percent to 52.84 billion euros compared to the previous month. In part, the monthly increase was due to a substantial tax rebate which the federal government was forced to offer en-
ergy producers in June. The German taxman has also beneQited from the country’s lasting economic momentum, with a growth in tax revenues of 3.8 percent to 379.2 billion euros over the course of the year. Bild newspaper reported on Monday that the inability of Qiscal authorities to curb the deQicit despite favorable economic developments was tied to a sharp uptick in government subsidies.
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Shipping activity at Port Qasim KARACHI: Four ships C.V CMA CGM Indus, M.T Genuine Galaxy, M.T Gaz Niaz and M.T Pacific Talent carrying containers, Palm Oil, LPG and Coal were allotted berths at Qasim International Container terminals. Terminal, Liquid Cargo Terminal, Engro Vopak Terminal and Port Qasim Electric Power Terminal respectively on Thursday. Meanwhile four more ships C.V Tempanos, M.T Chemroad Lily, M.V Stolt Sekor and M.V E-Trader with containers, Edible oil and Steel product also arrived at outer anchorage of Port Qasim (PQ) during last 24 hours. Berth occupancy was managed at the Port at fifty six percent on where a total of nine ships namely, CMA CGM Indus, CS Flouish, Ch Yasa Gulten, Pacific Talent, Theofano Star, Gas Husky.
Krishnapatnam Port starts trans-shipment ndhra Pradesh’s Krishnapatnam Port has become the second port on India’s eastern coast after Vizag to have trans-shipment facility. Krishnapatnam Port Company Ltd’s (KPCL) plans to become a transshipment hub by catering to the ports on the eastern coast. A transshipment terminal is a hub which will attract smaller feeder vessels with containers that then get loaded onto larger ships for transportation to final destinations abroad. Exporters and importers benefit hugely as larger vessels bring about economies of scale and lower the cost of operations. At present, around one fourth of total containers from India are trans-shipped through ports outside the country, mainly Colombo in Sri Lanka and Singapore. Apart from these locations, Jebel Ali in the United Arab Emirates, Salalah in Oman and Port Klang in Malaysia are other ports used for trans-shipment.
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Almost 78% of total containers shipped from the ports on the eastern coast are trans-shipped either through Colombo or Singapore. Hence, there is a need for establishing trans-shipments hubs within the country. “We have also started trans-shipment of containers. On the east coast of India what happens is that most of the containers that either come into India or go out of the country are not going directly to the destinations, they are trans-shipped at either Colombo or Singapore. It’s a great national loss,” KPCL chief executive Anil Yendluri told DNA Money. Lack of large ports with trans-shipment facility is also a drain on foreign exchange as for trans-shipment at other ports like Colombo or Singapore, the cost comes to around $100-300 per container. –CB Report
Ports & Shipping
10 Customs ports exceed collection targets in H1 ’17 MANILA
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en out of 17 collection districts of the Bureau of Customs (BOC) have exceeded their collection targets for the Qirst six months of the year. The BOC–Finance Service reported that more than PHP212.16 billion in duties and taxes were collected from January to June this year. The Qigure was up by 11.3 percent from the PHP190-billion revenue amassed during the same period in 2016. On the other hand, the ports and their respective earnings are: Port of San Fernando collected PHP1.517 billion, up 35.4 percent from PHP1.120 billion target; Port of Legaspi collected PHP194.5 million, up 58.8 percent from PHP122.4 million target; Port of Iloilo collected PHP1.213 billion, up 0.7 percent from PHP1.205 billion target; Port of Tacloban collected PHP169.8 million, up 59.3 percent from PHP106.6 million target; Port of Surigao col-
lected PHP6.3 million, up 9.7 percent from PHP5.7 million target. The other ports that also surpassed their collection targets were: Port of Cagayan de Oro which collected PHP6.572 billion, up 20.5 percent from PHP5.454 billion; Port of Zamboanga collected PHP229.5 million, up 106.5 percent from PHP111 million; Port of Davao collected PHP7.912 billion, up 20.8 percent from PHP6.548 billion; Port of Subic collected PHP7.877 billion, up 3.1 percent from PHP7.640 bil-
lion; and Port of Clark collected PHP707.2 million, up 11.7 percent from PHP633 million. At the same time, the BOC–Finance Service reported that the bureau has already achieved 97.4 percent of its PHP217.96 billion revenue target for the Qirst semester and is expected to improve in the coming months. With this, Customs Commissioner Nicanor Faeldon acknowledged the efforts of the ofQicials and employees in the ports for the improved collections.
Wednesday August 30, 2017
Three ships take berth at Port Qasim hipping activity remained active at the Port where three ships M.V Yasa Gulten, M.V CS Flourish and M.T Al-Salam-II carrying 42,733 tonnes coal, 5,040 tonnes steel product and 52,661 tonnes diesel oil took berths at Multi-Purpose Terminal (MW-1 & MW-2) and FOTCO Oil Terminal respectively on Wednesday. Menwnile five more ships C.V CMA CGM Indus, M.T Pacific Talent, M.T Gas Niaz, M.V Tu Yi-1 and Maritime Lara with containers, LPG, General Cargo and palm oil also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was observed at the Port t 56% on Wednesday where a total of nine ships namely, Maersk Algeciras, Maersk Kinloss, CS Flourish, CH Yasa Gulten, Theofano Star, Caspian Gas, Gas Husky, Navig-8 Aragonite and Al-Salam-II are currently occupying berths to load/offload containers, coal, general cargo, soya bean seeds, LPG, palm oil and disesl oil respectively during last 24 hours. –CB Report
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Global port volume heads for a six-year high WASHINGTON
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he solid increase in container volume being reported by the world’s carriers in the Qirst half of 2017 was mirrored by global port throughput that is on track for its strongest year since 2011. Container throughput at 250 ports around the world grew by an estimated 6.7 percent in the Qirst half, according to a survey by Alphaliner. The container shipping analyst said it expected global throughput growth to reach a six-year high of 6 percent year on year. Alphaliner’s report and forecast mirrors the outlook Drewry gave last week. The London-based analyst said volume in the Qirst half rose 6.6 percent, after surveying 150 ports, and said growth is building to the fastest clip in six years. The port strength fol-
lows increasing year-on-year container volume transported by carriers in the Qirst half. Hong Kong-listed OOCL volume was up almost 7 percent while Maersk Line carried 2 percent more volume in the Qirst half. Container Trades Statistics data revealed that Asia-Europe volume for the Qirst six months grew by 2.7 percent to 4 million TEU, although some individual routes on the trade showed far stronger growth. China to the East Mediterranean/Black Sea, for instance, was up 12.6 percent. On the trans-PaciQic, US imports in August could reach record levels. Global Port Tracker, which is published monthly by the National Retail Federation and Hackett Associates, forecasts that August will be the busiest month ever, with imports predicted to rise 2.1 percent from August 2016. IHS Markit Senior Economist Mario Moreno recently upgraded his growth projec-
tion for US containerised imports in 2017, to 6.6 percent from 6.1 percent earlier. The strength of the container shipping market was reQlected in the world’s 20 largest container ports, where only two ports both in Malaysia recorded negative growth in the Qirst half. Port Kelang was down 3.1 percent and Tanjung Pelepas was 4 percent down compared with the Qirst half of 2016. Leading the Alphaliner table was the world’s busiest container port, Shanghai, that saw throughput in the Qirst six months of 2017 shoot up just shy of 10 percent to 19.6 million TEU. Singapore was up 6.4 percent to 16.1 million TEU with Shenzhen third at 11.8 million TEU. The 250 ports in Alphaliner’s survey have a combined annual throughput of more than 550 million TEU. Total volume growth powered ahead in the second quarter to reach 7.4 percent, ahead of the 5.9 per-
cent recorded in the Qirst quarter of this year. Positive growth was recorded across all regions in the Qirst six months of the year, led by South Asia ports that recorded the strongest growth rate of 9.3 percent, while the Middle East region lagged behind the rest of the world, growing by only 3.1 percent. Among the main regions, China and the US ports posted the highest Qirst-half growth rates of 8.4 percent and 8.2 percent, respectively. Among the top 30 ports, notable gainers in the Qirst half include Ningbo (14.4 percent), Guangzhou (11.7 percent), Hong Kong (10.5 percent), Shanghai (9.6 percent), Rotterdam (9.3 percent), and Laem Chabang (8.2 percent). However, this was partly offset by declining volumes at several main ports, including Algeciras (-9.4 percent), Lianyungang (- 7.2 percent), Bremerhaven (-4 percent), and Tanjung Pelepas (-4 percent).
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Seminar on importance of tax culture ISLAMABAD: As many as 3,676 metric tons of wheat worth $967,000 was exported during previous financial year (2016-17) as compared the exports of corresponding period of last year. Wheat exports from the country during 12 months of financial year, 2016-17 registered 512.3 percent increase as against the exports of 2015-16, according the data of Pakistan Bureau of Statistics (PBS). Wheat exports from the country during financial year 2015-16 were recorded at 450 metric tons valuing $158,000, whereas no quantity of wheat was exported in month of June.
Wednesday August 30, 2017
Business
Power sector heads for completion of projects LAHORE
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tate Minister for Power Abid Sher Ali has directed the heads of power sector entities to complete their ongoing projects well before time. He was chairing a meeting on power system constraints held at WAPDA House Lahore. Managing Director NTDC, CEOs of all Distribution Companies (DISCOs), GM (C&M) PEPCO and other senior ofQicials of Power Division attended the said meeting. During the meeting, the minister said that the government has made much progress in power generation due to concerted and coordinated
ANF recovers huge cache of drugs SUKKAR
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efforts, since the govt is committed to eliminate load shedding from the country. He said that transmission system of NTDC and DISCOs is fac-
SBI partners with Czech for trade, investment boost in Sindh
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nti Narcotics Force (ANF) in a raid recovered a huge cache of narcotics from village Nawab Khan Wassan, district Khairpur. The raid was conducted on lead by Assistant Director ANF Sukkur Muhammad Faisal regarding presence of large quantities of contraband drugs in the house in village Nawab Khan Wassan. According to ANF officials, one drug peddler accused Ali Gul Wassan had been arrested. A case had been registered at ANF Police Station while further investigation is underway.
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ing constraints. However, the govt has carried out and completed various projects during last three years. Abid said that the Ministry of Power
has already identiQied system constraints and communicated to all the concerned departments to initiate up-gradation of transmission system on war footing. He also formed a monitoring committee comprising the ofQicials of Power Division, PEPCO, NTDC and DISCOs in NTDC and DISCOs. The committee will monitor the progress work and will ensure the completion of under construction projects within given deadlines. He directed the monitoring teams to submit the progress reports on weekly basis to his ofQice. He said that delay in completion of development projects would not be tolerated at any cost. He mentioned that all those ofQicials who fail to complete projects within the given date would be penalized.
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KARACHI
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indh Board of Investment on entered an MoU with CzechGulf Business Council (CGBC) of Czech Republic to promote trade and investment in Sindh. The Memorandum of Understanding (MoU) was signed by SBI Chairperson Ms. Naheed Memon and Chairman CGBC, Robert Pergl, at a ceremony here at SBI OfQice. The MoU envisages cooperation for promoting trade and investment
in Sindh including exploring new potential opportunities. The CGBC, would support SBI to attract Czech investment in the province. SBI Chairperson said, under the MoU, SBI and CGBC would also arrange conferences and seminars on trade and investment on domestic and international level to project the economic potential of Sindh province. SBI and Czech Council would be taking initiatives to bring investors from Sindh and Czech closer enough to start joint ventures in different economic sectors. SBI would extend maximum facilities and support to Czech
business delegations visiting Sindh and CGBC would reciprocate, she said. Ms. Naheed Memon said Czech Republic had immense expertise in advanced engineering, designing and technology. This was good opportunity for Pakistan to vail. She said Sindh wants to beneQit from Czech’s technological advancement especially in urban planning, transport, energy sector, automobiles and infrastructure development. She said Chinese companies were successfully operating in Pakistan because Chinese government had extended them all possible support including Qinancing.
PIA to commence three weekly flights to Najaf KARACHI
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PIA becomes the first Pakistani airline to commence three weekly flights from Karachi to Najaf, Iraq from September 14, 2017. The soft launch of flight was held at PIA Head Office on the finalization of flight operations. The tickets are available for sale effective from PIA will provide through check-in for passengers traveling from major cities of Pakistan. CEO PIA, Nayyar Hayat while sharing his views on the commencement of flights to Najaf said that it is yet another first in the long list of achievements. He said that the concept is to provide convenient, seamless connection – through check-in from the major cities of Pakistan for Najaf flights from Karachi of course on competitive fares. Passengers, who used to travel through other means with long wait for connections will now be able to fly PIA with through check-in facility. Hayat said that PIA aims to improve its service standards based on customers’ and travel agents feedback so that the service gaps must be filled while incorporating the availability and demand factors. “With the induction of more aircraft in PIA fleet, we plan to add more destinations to our network”, he said.
LPG production stood at 1.918mmt in three years ISLAMABAD
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ocal production of LiqueQied Petroleum Gas (LPG) remained over 1.918 million metric tonns (mmt), imports 0.840 mmt, sales 2.559 mmt during the last three years, Chairman LPG Distributors Association (LPGDA) Irfan Khokhar said. “Due to effective strategy of the current government, price and vail-
ability of the commodity remained better in the winter season this year as compared to previous years, but there is the need to further streamline the matters especially relating to LPG import,” he said. During the last winter season, he said the LPG price did not cross the Rs 100 per kilogram Qigure due the government strategy to bridge gap between demand and supply of the commodity. Otherwise, earlier in this season, LPG per kg price had
been Qluctuating and even touched the Rs 200 Qigure, he added. During the last 12 months, over 1.2 mmt LPG was sold that generated more than Rs 42 billion revenue for the government, projecting that the revenue would reach Rs 100 billion this year. Last year, he said, 532,918 mt LPG was imported and this year the association had the plan to import one mmt, stressing the government to formulate more effective strategy for LPG sector in
the upcoming Qiscal year to meet ever-growing energy needs. In 2014, the chairman said LPG production, imports and sales remained 440,115 mt, 82,117 mt, and 502,232 mt respectively, while the production stood at 829,509 mt, imports 245,578 mt and sales 875,087 mt in the year 2015. Answering a question, he appreciated the government approval for setting up over 60 LPG-air mix plants in selected areas by Sui Northern
Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL), where natural gas supply does not exist. He said the plants would help provide inexpesive fuel to consumers through a dedicated transmission network in far-Qlung areas, underlining the need to encourage private sector in setting up their own PG-air mix plants for housing colonies after fulQilling required codal formalities.
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Russia to give $70 mln loan to Belarus MOSCOW: Russia is to give Belarus a loan of $70 million, designed to repay Minsk’s debt to Russia, as well as to the Eurasian Fund for Stabilization and Development. The corresponding order was published on August on the webpage law.by. The Belarusian side is to repay the loan twice a year (April 15 and October 15) for 10 years. The first instalment will be made in the spring of 2018. Moscow will give Minsk the necessary amount in Roubles, but the loan will be paid back in dollars. Ex-chairman of the Supreme Council of Belarus, Stanislav Shushkevich, has warned that further allocation of loans will lead to a default in Belarus. “He (the president of Belarus, Alexander Lukashenko), is driving Belarus into great debt. This will probably lead to a default. I cannot give him advice, because he does not recognize reasonable advice.
FPCCI proposes to renegotiate trade deals KARACHI
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Wednesday August 30, 2017
Chambers
Training & capacity building required to improve policing: Siraj
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he Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday recommended to the Government to revisit and negotiate anew the existing Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs). “The trade agreements should be revisited as they are heavily tilted in the favour of partner countries,” said President FPCCI Zubair Tufail in a statement. He said FPCCI supports the bilateral trade agreements with different countries to enhance Pakistan’s trade relations but these are to be based on mutual benefits and at the same time protecting Pakistan’s economic interests. Due to existing FTAs, Pakistan’s imports have jumped by 300 percent in the last three years putting an unbearable burden on the foreign ex-
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change reserves, he said, adding, at the same time our exports are on constant decline thus widening the trade deficit to an alarming level of US$ 32 billion, he said. He said this situation is not sustainable for long and some effective measures must be taken without wasting any time. Zubair Tufail further said that due to FTAs and PTAs foreign goods have flooded the local market. Similarity of these products with those manufactured locally has affected the local industry and units are being shut down causing damage to the economy. Unabated imports have increased unemployment as the same time it is discouraging investors to set up new industries, he added. Zubair Tufail demanded that in larger interest of the country the government should form a committee of experts to examine these agreements to identify the clauses, products and agreed tariff concessions which are detrimental to Pakistan’s industry and the economy.
KARACHI
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n response to Karachi Chamber’s deep concerns expressed over rising lawlessness particularly the increase in street crimes, Director General of Pakistan Rangers Sindh Maj. Gen. Muhammad Saeed has claimed that the law and order situation of Karachi has been gradually improving as the year-wise statistics clearly indicate descending trends in all the incidents including target killings, kidnapping for ransom, demand for extortion, bank robberies, thefts and street crimes etc. “Rangers’ troops are actively involved in strictly dealing with street crimes as well. We are dealing with street crimes in a big way as a total of 1500 individuals were arrested by Rangers during the last four months and handed over to police”, he added while sharing his views at a meeting during his visit to Karachi Chamber of Commerce and Industry. Chairman Businessmen Group & former President KCCI Siraj Kassam Teli, Vice Chairman BMG & Former President
KCCI Zubair Motiwala, President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President Muhammad Younus Soomro, Former Presidents KCCI AQ Khalil, Abdullah Zaki and Younus Muhammad Bashir, Former SVP Muffasar Atta Malik, Chairman KCCI’s Special Committee for Small Traders Majeed Memon, Managing Committee members and others attended the meeting. DG Rangers informed that 70 percent of individuals involved in street crimes, who were apprehended by Rangers, were drug addicts. “It is a matter of grave concern that this city hardly has
60-beds capacity to rehabilitate the drug addicts. We have to pull them out of addiction and in this regard, the business and industrial community, philanthropists, people of Karachi, civil society and provincial government will have to come forward and play a major role in order to rehabilitate them.” DG Rangers pointed out that CPLC’s statistics clearly indicate that every criminal activity from terrorism to phone snatching have been declining as compared to the same period of previous years which shows that the situation is gradually improving. “As on July
Dubai hosts VAT compliance workshop DUBAI
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he Dubai Chamber of Commerce and Industry recently organised and hosted a workshop in cooperation with the UAE’s Federal Tax Authority (FTA), which aimed to familiarise importers and exporters in Dubai with the forthcoming value-added tax (VAT). The workshop also highlighted mandatory registration procedures associated with the new tax. The second and Qinal workshop, hosted at the Chamber’s premises, was attended by over 500 participants representing import and export businesses in the emirate. The event is part of the second phase of the joint effort by the UAE Ministry of Finance and the FTA’s tax awareness programme, which aims is to keep the
UAE’s business community informed on new tax laws and compliance procedures. Khalid Ali Al Bustani, director general of the Federal Tax Authority, said: “The workshops provide an ideal platform to raise awareness and engage the business community about the compliance requirements and procedures that need to be completed as they prepare for VAT. In addition, these events aim to enhance businesses’ understanding of how the tax system works, as well as the objective behind introducing it in the UAE.” He also explained that importers and exporters are a vital part of the UAE’s economy that stand to play a greater role in the country’s sustainable development going forward. He described the registration process for VAT as simple, efQicient, and transparent, and added that the tax procedures fall in line with the best in-
ternational standards. For his part, Atiq Juma Nasib, senior vice president of commercial services at Dubai Chamber, noted that the highly attended workshops on VAT reQlect a growing awareness among business in Dubai about the importance of preparing for VAT and fulQilling all necessary requirements well in advance. Nasib said the Chamber would continue to play an active role to inform businesses in the emirate about important regulatory developments, and provide them with a platform to address their questions and concerns. The FTA earlier announced that UAE-based companies will be able to begin registering for VAT on the authority’s website from mid-September 2017. Around 300,000-350,000 companies are expected to be registered for VAT when the new tax is introduced in the UAE on January 1, 2018.
31st 2017, the crime rate in Karachi was much lower as compared to other cities around the world including Ahmedabad (India), Mumbai (India) London (UK) and New York (US) who were ahead of Karachi despite the fact that all these cities are wellequipped with latest technologies and every vehicle is tagged with RFID”, he said, adding that Rangers asked local bike manufacturers to tag motorcycles with RFID which helps in tracing motorcycles but they are reluctant to do so due to additional costs, making these bikes uncompetitive in the local markets.
SCCI urges banks to extend support for industrialization arhad Chamber of Commerce and Industry (SCCI) has urged the commercial banks to extend cooperation for industrialization, revival of sick industries and promotion of Small and Medium Enterprises (SMEs) to stabilize the terrorism-affected economy in Khyber Pakhtunkhwa. It also demanded of the National Bank of Pakistan to provide soft loans for development of small-scale industries and Small Medium Enterprises (SMEs), as well as promote investment in hydel power generation, oil and gas, marble agriculture sectors. This was stated by SCCI president, Haji Mohammad Afzal during a meeting with NBP Senior Vice President, and Regional Head Syed Wasim Akhtar. –CB Report
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Customs Intelligence seizes NDP polish from Jhang Road FAISALABAD: The Customs Intelligence and Investigation team confiscated Porcelain polish worth Rs9,00,000 involving duty and taxes of Rs8,62,207 during road checking. Sources told Customs Today, that Customs Intelligence team was on routine checking near Jhang road Faisalabad. The customs team intercepted a trailer no: TKW-199. The customs team checked the vehicle and recovered glazed porcelain polish tiles 684-Cartons, made in Iran.
Wednesday, August 30, 2017
CUSTOMS BULLETIN
DG Valuation revises customs value of BOPET / holographic & PET sequin film KARACHI WAQAR AHMED ANSARI www.customsbulletin.com
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he Directorate General of Customs Valuation has revised the customs value BOPET / holographic and PET sequin Qilm vide valuation ruling no 1204/2017 under Section 25-A of the Customs Act, 1969. Customs values of BOPET / Holographic and PET sequin Qilm were earlier determined through Valuation Ruling No.876/2016 dated 2306-2016. There were several representations from different traders and Qlexible Packaging Association of Converters of Pakistan, for determination of customs value of BOPLI Film a fresh. They claimed that the prices of BOPET Qilm are showing down ward trend in the international markets, hence existing valuation ruling, which is over one year old is required to be revised in the light of High Sindh High Court Karachi’s orders dated 10.11.2015 in constitutional petition no. D6918/2015. Since 90 days have passed and a number of representations were received from commercial importers and Flexible Packaging Association of Converters of Pakistan regarding values deter-
mined in the valuation ruling dated 23.6.2016, hence an exercise was ini-
tiated to re-determine the values of subject items. Meetings with stake-
holders and local manufactures were scheduled on 18.07.2017 and
08-08-2017 to discuss the current international prices of subject goods.
Peshawar Customs seizes non duty paid goods worth Rs 9.5m PESHAWAR
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he Directorate of Intelligence and Investigation Customs conQiscated NDP goods worth Rs 9.5 million till 20th August 20172018. Sources told Customs Today that I&I Wing of Customs Peshawar conducted 18 successful raids during the time and conQiscated NDP items which
earned millions extra revenue for national exchequer of Customs House Peshawar. The I & I wing Customs Peshawar have conQiscated 19 vehicles and goods of worth millions in 18 different raids conducted in the month of August of FY 2017-2018. According to detail shared by Intelligence ofQicer Yaqoob Shah said that the NDP vehicles and goods will be auctioned which will add handsome amount of revenue to the collection of MCC Peshawar. He added that the conQiscated vehicles include Toyota Hilux Surf ,Model 2001 ,Toyota Fielder Mo-
tor Car Model 2002,Toyota Corolla, Honda City ,Toyota State Motor,Suzuki Alto,Toyota Hiace and Toyota Vitz. The conQiscated goods include polyester cloth , old and
used radiator, cigarettes, Durun tyres, shocks for LTV, differential tube for LTV, Axcell with drum ,Gear Box, Chimta old and used, staring Box, AC pump, tie rods,
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).
gear leaver, driving shift, studs for LTV, engine ada, karanti cloth, CDR 189 cartoons, UPS,HCME,HNE1203,1000 watt inventor with charger, pad lock ,Nails 49 cartoons, suiting cloth, parda, inside cylinder, LG split air conditioners, slim LED, electronic cattle, phoenix cloth, sharp microwave, velvet cloth, complete engine without gear, Koray complete engine, Nissan complete engine and black tea. Yaqoob said that the I&I wing auction cell through which the items will be presented for open auction will be concluded in Customs House Peshawar.