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Karachi, Wed December 27, 2017

ISLAMABAD

M FAIZAN

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he Federal Board of Revenue (FBR) has taken serious notice of the complaints of the importers regarding the corruption, misconduct and misuse of powers by the Rield staff of the Directorate of Customs Intelligence and In-

vestigations and directed investigation into the matter and to take action against corrupt ofRicials. Sources told Customs Today that Member Customs Muhammad Zahid Khokhar has urged the ofRicials of Model Customs Collectorates and Directorates of Customs Intelligence and Investigation to follow the set policy in line with rules and regulations. He again told the importers the FBR was ready

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to resolve their issues under the due course of law. According to sources, this matter would also be taken up with the high-ups of Directorate General of Customs Intelligence and Investigations, Islamabad. Khokhar advised the importers to inform the FBR in case any ofRicer of the Customs Department demanded bribe from them. The FBR would take strict action against corrupt ofRicials, he added.

All stations of Customs Islamabad generate Rs83m more Customs Duty

DG Valuation Surriya to revise VR No 713/2015 on January 18

Customs Intelligence impounds NDP Jaguar car from Bahria Town

Pakistan wants to facilitate Afghanistan for transit trade: Sartaj

Customs GB generates Rs178 more revenue than earmarked collection target

All the stations of the Customs Islamabad earned a surplus revenue | See pAge 02 |

DG Valuationhas decided to revise the Valuation Ruling No: 713/2015 on Jan18 | See pAge 03 |

Customs Intelligence seized a NDP Jaguar car during an action in Bahria Town | See pAge 04 |

Deputy Chairman of Planning Commission, Sartaj Aziz said | See pAge 14 |

Customs Collectorate of Gilgit-Baltistan received more than Rs200million revenue | See pAge 16 |

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FST seeks reply on complaints ﬁled by FBR employees Wednesday, December 27, 2017

ISLAMABAD: A division bench of the Federal Service Tribunal again directed the the Federal Board of Revenue (FBR) to submit a reply in cases seeking grant of time-scale. A division bench of the FST comprising Syed Rafique Hussain Syed Muhammad Hamid heard the cases filed by the FBR employees. The bench sought board’s reply on a number of matters being contested by the employees. Around 40 appellants had filed complaints regarding grant of time-scale including Mansoor Ahmed, Nadeem Khan, Khuram Azam, Babar Ahmed, Naheed Sultana and others.

Islamabad

All stations of customs Islamabad generate rs83m more customs Duty

ISLAMABAD

cuStoMS BuLLetIN report

tArIQ DerYA

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he Anti-Smuggling Organization Islamabad took into possession smuggling goods and smuggled vehicles worth Rs9.2million during 2nd week of December Fiscal Year 2017-18. According to details given by Majid Hussain Gadd, Assistant Collector, AntiSmuggling Organization (ASO) Islamabad, that, during above said period, the ASO impounded four offending vehicles (vehicles carrying smuggling goods) valued at Rs5.00million. He told correspondent that the ASO Islamabad seized 1,340 kilogram of foreign origin smuggling tea priced at Rs0.42million whereas it did 253 auto-parts worth Rs0.068million. The ASO also confiscated 1,000 packs of foreign origin fake cigarettes valued at Rs0.53million. The Gadd informed CT that, during above said period, the ASO impounded 82 foreign origin smuggling blankets priced at Rs0.034million while it did 2,760 miscellaneous smuggling items worth Rs3.18million during different seizures on the Motorway and Highway during 2nd week of December FY17-18.

ll the stations of the Customs Collectorate Islamabad earned a surplus revenue of Rs83million as Customs Duty during first 15 days of December Financial Year 2017-18 against an assigned proportional revenue collection target. According to details given by sources of the Model Customs Collectorate (MCC) Islamabad that, during first 15 days of current month of December FY17-18, all the stations, comprising of Collectorate of Islamabad Dry Port (IDP), Air Freight Unit (AFU), C.Bond, Unaccompanied Baggage (UAB), Accompanied Baggage (AB), Rebate Refund and International Mail Office (IMO) working under the umbrella of MCC Islamabad, demonstrated satisfactory performance under the head of CD. The sources said that, during above said period, all the stations of the MCC Islamabad, generated a net collection of Rs366million as CD whereas all the customs stations were assigned Rs283million revenue under the same head. The sources told CT that, during above said period, the IDP received Rs152million of CD while it was allocated a revenue target of Rs156million. The sources further told the correspondent that, dur-

ASo impounds smuggling items & smuggled vehicles

ing above said period, the AFU was earmarked a revenue collection target of Rs129million as CD while it received Rs214million during first 15 days of December FY17-18. The C.Bond was assigned Rs2million of a proportional revenue target against a collection of Rs0.25million whereas the UAB was allocated a

revenue target of Rs0.26million as CD against a collection of Rs0.36million. The sources notiRied CT that, during abovementioned period, the AB was earmarked a revenue collection target of Rs1.24million of CD for 15 days of December FY17-18 against a collection of Rs1.49million. It was added that the IMO Is-

lamabad was assigned a revenue collection target of Rs0.34million while it earned Rs0.16million. The sources added that the MCC Islamabad’s Rebate Refund Section was allocated Rs10million of CD while the MCC Islamabad paid Rs3million of rebate refunds to the exporters during above period.

Ihc settles customs matter involving customs collectorate

ISLAMABAD

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he Islamabad High Court (IHC) on disposed of a customs matter involving M/s Aftab Traders and Model Collectorate of Customs with directives to MCC to hear the appellant’s petition pending before the adjudication. A single bench of the IHC comprising Justice Athar Minallah heard the matter. Earlier, the bench had reserved

decision on the matter. Collector Customs had Riled the case against M/s Aftab Traders. In the meantime, another bench of the court dated in ofRice the hearing of cases submitted by M/s Pakistan Tobacco Company Limited. The bench issued notices to the parties to ensure their presence before the court and dated in ofRice the hearing. M/s Pakistan Tobacco Company Limited had Riled the reference in which the company had challenged a show cause notice issued by the

Large Taxpayers Unit, Islamabad. M/s Pakistan Tobacco Company Limited had contested show cause notices issued by the Rield ofRices of Federal Board of Revenue. According to details, M/s Pakistan Tobacco Company Limited had challenged recovery of issued to it in head of outstanding sales tax by the LTU, Islamabad. M/s Pakistan Tobacco Company Limited had submitted the department had issued the demand for the tax year 2010 in head of sales tax.

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PCA detects tax evasion of Rs 4.24m by Ghafoor Textile Limited KARACHI: The Directorate of Customs Post Clearance Audit has detected an evasion of duties and taxes of Rs 4.24 million allegedly by M/s Ghafoor Textile (Private) Limited Karachi, it is learnt. The oﬃcial sources told Customs Today that M/s Ghafoor Textile (Private) Limited imported a consignment of fabric printed machines and their parts, silk wool from China under the PCT Heading 6903.2387 and got it cleared from the PICT Karachi vide GDs on June 18, 2017 by paying customs duty at 8 percent after claiming the beneﬁt of the SRO 677/2007.

Adjudication-II recovers rs 4.29 from M/s golo woolen textile

Wednesday December 27, 2017

Karachi

Dg Valuation Surriya to revise Vr No 713/2015 on January 18

KARACHI

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he Custom Adjudication-II has served a final notice on a defaulter named M/s Nabeel and Company and recovered Rs 4.29 million from M/s Golo Woolen Textile Karachi. M/s Nabeel and Company was allegedly involved in tax evasion. The company imported refrigerator parts, including condensers on September 14, 2017 and used the wrong PCT heading. The consignment was cleared by Examiner Shahid Ali Soomro. After a careful investigation, the Customs Adjudication-II issued a final notice to the company to clear the outstanding amount of Rs 5.20 million.

NAB’s powers challenged in Sindh once again KARACHI

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indh High Court (SHC) Chief Justice Ahmed Ali M Sheikh was requested to pass an order on the former provincial land secretary’s plea challenging powers of the National Accountability Bureau (NAB) to initiate inquiries or investigations into matters relating to the departments of the provincial government. A three-judge larger bench, headed by Justice Naimatullah Phulpoto, made this request while referring a petition against alleged interference of the national anti-graft watchdog in provincial government departments to the SHC CJ. The bench, also comprising justices Muhammad Karim Khan Agha and Omar Sial, adjourned hearing on the matter till January 10, 2018.

KARACHI

wAQAr AhMeD ANSArI www.customsbulletin.com

irectorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 713/2015 on January 18, 2018, it is learnt. According to the details, Director General Surriya Butt said that the department was reviewing suggestions from importers to set new prices of energy drinks H.S Code 2202.1010. She said that some valuations, which were issued in 2015, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in the international markets. Sources said that a petition was submitted by the importers to Customs Valuation in which change in prices of energy drinks H.S Code 2202.1010 was requested. Sources said the Valuation Ruling No: 713/2015 was issued February 2, 2015. A meeting was held with the stakeholders on 18 December 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. Meanwhile, Director General Customs Valuation Surriya Ahmed Butt called a meeting of some importers

on December. It is possible that two more valuation ruling prices will be set in this meeting. Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 765/2015 on January 16, 2018, it is learnt. Director General Surriya Butt has said that the department is reviewing suggestions from importers to set new prices of furnishing fabrics. She said that some valuations,

Moreover, the valuations will be set in view of rising prices in the international markets. Sources said that a petition was submitted by the importers to customs Valuation in which change in prices of energy drinks h.S code 2202.1010 was requested

court awards jail tern to suspects involved in smuggling

KARACHI

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ustom Court Judge Syed Faiz Rasool Rashdi awarded 15 days imprisonment and imposed a fine of Rs 300,000 each on suspects, Haji Abdul Sattar Koshka and Salima Sattar, on pleading guilty. Both were booked for attempting to smuggle/ non-duty paid contraband foreign currency. During the hearing, the suspects

moved a petition for pleading guilty and left themselves on the mercy of the court. After the hearing, the court awarded 15 days imprisonment which already undergone period and Rine Rs 300,000 each. On last date of hearing, the investigation ofRicer produced the suspects before the judicial magistrate Malir and submitted that the staff of the Customs Collectorate Preventive intercepted the suspects at Jinnah International Air Port Karachi and recovered 357,845 Dirham,

70,000 Saudi Riyal and 2,710 rupees from them. He had informed the court that the above mentioned suspects were trying to smuggle the said money to Pakistan from foreign country, he submitted that during the investigation, customs ofRicials asked suspects legal documents, however, they failed to produce any legal and lawful documents before the concerned authorities. Therefore, currency was seized and they were arrested by ofRicials of the customs authorities and case.

which were issued in 2015, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in the international market. Sources told CT that a petition was Riled by the importers in the Customs Valuation in which change in prices of furnishing fabrics was requested. Sources said the Valuation Ruling No: 765/2015 was issued on October 9, 2015. A meeting was held with the stakeholders on December.

pak rupee closes flat against dollar he Pakistan rupee remained flat against dollar both in interbank and open market. As per the local money market, the dollar remained unchanged both in open market and interbank for selling at Rs110.55 and Rs110 respectively. On the dollar lost 30 paisas in interbank for buying at 109.80 and for selling at 110, while it gained five paisas in open market.

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FIA makes more recovery form oil marketing companies Wednesday December 27, 2017

Lahore

LAHORE: An oil marketing company has deposited an amount of Rs51 million to the national exchequer in an inquiry regarding petroleum levy. According to an FIA official, an oil marketing company has deposited the amount as FIA is probing petroleum levy case against the oil marketing companies. He said the same company has so far deposited an amount of Rs4.18 billion to the national exchequer whereas further recoveries are also expected.

proprietor Mohid Industries’ appeal fixed for final arguments LAHORE

SAJID NAwAZ

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he Federal Tax Ombudsman (FTO) has postponed the hearing of a case Riled by Proprietor Mohid Industries against the Regional Tax OfRice (RTO) Lahore until the next date of hearing. FTO Advisor Mazhar Farooq Shirazi heard the case Riled by Proprietor Mohid Industries. The counsel for the appellant argued that the RTO remained failed to release the Sales Tax refund to the appellant since two years. He said the RTO has been collecting excessive taxes from the company for the last two years. The petitioner approached the ofRicials concerned several times for release of the refunds, but the RTO ofRicials failed to clear the refunds even after

Lahore customs auctioning 23 vehicles irectorate of Customs Intelligence and Investigation is auctioning 23 confiscated vehicles at State Ware House, Lahore Directorate. The following vehicles will be presented at the auction: Mercedes Benz Car S320, Model 2003, Registration Number: DGA-569, Chassis Number: WDB2200652A083413 Mercedes Benz Car E-240, Model 1997, Registration Number: LE-190/ICT, Chassis Number: WDB2100352A502971 Mercedes Benz Car S5000, Model 2000, Registration Number: BCX-094, Chassis Number: WDB2201752A124672 Toyota Progress Car 2927CC, Model 1999, Registration Number: DGA-271, Chassis Number: JCJ11-0005820 Honda Accord Car 1997CC, Model 2003, Registration Number: AGQ-064, Chassis Number: CL7-3009589 BMW Car 750i, Model 2002, Registration Number: LEH-13-2317. –CB Report

the passage of a reasonable time. Finally, the appellant decided to approach the FTO seeking intervention in this case. The counsel appealed to the FTO advisor to direct that the RTO should clear the refund claims. The counsel further said that delay in release of refunds puts the burden on the taxpayer therefore RTO should make audit of the case and release the extra amount collected from the taxpayer. On the other hand, counsel for the RTO argued that the appellant has not submitted all the record in the ofRice for claiming refunds. If he provides accurate record, the RTO will release the refunds after a proper assessment, he added. After hearing the arguments from both sides, FTO Advisor adjourned the case of Sadia Naseem, Proprietor Mohid Industries until the next date for further hearing and directed that the parties should appear on the said date to present arguments in the case.

customs Intelligence impounds NDp Jaguar car from Bahria town

LAHORE

M hAYAt

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team of Directorate of Customs Intelligence and Investigation seized a non-

over rs230 million released for revenue Division projects

he government has so far released Rs230.020 million for various ongoing and new projects of Revenue Division under the Public Sector Development Programme (PSDP) for the current Riscal year (2017-18). The government in its Federal PSDP had earmarked Rs790.100 million for the Revenue Division projects, with foreign exchange component of Rs105 million, ofRicials sources said. The government released an amount of Rs85 million

for establishment of Inland Revenue ofRices in the country for which an amount of Rs148 million has been earmarked in the federal PSDP for the current Riscal year. An amount of Rs75 million has been released for development of Integrated Transit Trade Management (ITTMS) under ADB Regional Improving border Service Project. The government has earmarked an amount of Rs255.375 for the project this year with foreign exchange component of Rs100 million. –CB Report

duty paid Jaguar car during an action in Bahria Town. Sources told Customs Today that Director Customs Intelligence and Investigation Rubab Sikandar received information that some nonduty paid vehicles which were plying on city roads. She constituted a Customs team under the supervi-

sion of Superintendent Customs Intelligence Saleemullah Khan, and comprised Agha Sultan Haider, ZulRiqar Ali Dogar, Sohail Murtaza, Hamid Babar and Nadeem Ahsan. The team established many check points on main entry and exit points of Lahore city. During checking of vehicles, the team noticed a Jaguar car which was parked near Safari Villas bearing registration no: AAA-537. During checking of the vehicle it was revealed that the vehicle was non-duty paid and also being driven on fake number plate of Toyota Corolla car. The Customs team impounded the vehicle and brings the same to ofRice of Directorate of Customs Intelligence and Investigation. The market value of seized vehicle is Rs5 million. It is necessary to mention here that on one claimed the ownership of seized vehicle after passage of reasonable time. Customs Intelligence team registered a case against the owner of the vehicle and started investigations.

customs tribunal bench-I hears 10 cases he Customs Appellate Tribunal division bench-I comprising Justice (r) Malik Manzoor Hussain, Chairman and Imran Tariq, Member Technical bench-II, heard 10 cases and adjourned all cases to the next dates. According to details, the division bench heard cases of Additional Director (FBR) Multan versus SM Food Maker, Khawaja Muhammad Younas versus Collector Customs Faisalabad, Zulifqar Ali Anjum versus Collector Customs Multan, Rehmat Ali versus Collector Customs Faisalabad, Shahid Khan versus Collector Customs Faisalabad and

Bashir Ahemd versus Collector Customs Lahore. On same bench hears appeals of Don Valley versus Collector Customs Lahore, Haji M Aslam versus Collector Customs Lahore, Collector Customs Multan versus Muhammad Suliman and Collector Customs Faisalabad versus Js Brothers. Customs AppellateTribunal same bench heard 14 cases of Pak Steel Industries versus Customs Lahore, Abdul Azeem versus Customs Lahore, Bahsir Impex versus Customs Lahore, Green Terpal Trading versus Customs Lahore, Tahir Sharief versus Customs Lahore. –CB Report

FBr to construct modern border complex at wahga

LAHORE

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he Federal Board of Revenue (FBR) has approved, in principle, the design for constructing a state-of-the-art border complex at Wahga to reduce the time for cross-border movement of goods and services. The deadline for the

completion of the project is December 2021. The objective of the proposed border complex-which is part of the Integrated Transit Trade Management System—is to facilitate the legitimate trade without compromising on the security of the global supply chain. With the construction of this complex, the time spent on movement of goods at border points will reduce by more than Rive times.

The complex would be constructed with a loan to be borrowed from the ADB while other amount would be provided by the government of Pakistan. High authorities also directed that the project should eliminate bottlenecks and improve the procedures without compromising on regulatory controls and security. The FBR is expected to complete the project within the stipulated

timeframe. An ofRicial source told CT that the National Logistics Cell (NLC) will submit its bid for physical work on the border crossing point. The contract for construction of the border station will be awarded to the NLC. The ofRicial said the physical work on border station at Wagah will begin in September 2018. “International bids for the Wagah border station” will be invited.

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Wednesday, December 27, 2017

ISLAMABAD tArIQ DerYA www.customsbulletin.com

get of Rs195million of FED for the period of July to 15th December FY17-18. He said the Collectorate of Islamabad got Rs1651million as Income Tax (IT) against an allocated proportional revenue collection target of Rs1342million of IT during Rive months and 15 days of December FY17-18. The MCC Islamabad generated extra revenue of Rs1804million against an earmarked revenue target while it did revenue of Rs-26.45million of CD against assigned revenue target whereas Collectorate of Islamabad generated Rs1512million surplus revenue as ST against an assigned target. The MCC Islamabad received Rs9.25million extra revenue under the head of FED against an allocated target. And the same Collectorate of Islamabad got Rs309million additional revenue of IT against an earmarked revenue collection target for July to 15th of December FY17-18.

he Model Customs Collectorate Islamabad collected Rs1805million more revenue than an assigned revenue collection target under all the heads during July to 15th of December Fiscal Year 2017-18. According to details given by Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, that, during above said period, the collectorate received Rs8460million as all duties and taxes while it was assigned a proportional revenue collection target of Rs6655million. The Collector MCC Islamabad informed CT that, during Rive months and three weeks of FY17-18, the collectorate earned Rs2751million as Customs Duty (CD) while the Collectorate of Islamabad was allocated a revenue target of Rs2777million as CD. Saeed Khan Jadoon told the correspondent that MCC Islamabad collected Rs3852million of Sales Tax (ST) against an earmarked revenue collection that, target of Rs2340million. ed ct m r o f e The collector added that Mcc in d thre lector l o c MCC Islamabad earned ths an e n e o th m ctorat five Rs205million as Federal e colle h during t , s 8 -1 Excise Duty (FED) custom f FY17 s o a s n k o e i against an assigned prowe e of 1mill ctorat rs275 portional revenue tare colle arned

e nue e th a reve ) whil D d c e ( t y a Dut s alloc n as cD ad wa b a m millio a 7 7 Isl 7 2 of rs target

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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

economic cooperation with russia

ccording to newspaper reports, Pakistan and Russia are all set to sign two agreements worth $10 billion, envisaging the laying down of two pipelines, an oďŹ&#x20AC;shore gas pipeline and another North-South liquefied natural gas pipeline this week. Local and foreign financial experts believe the agreements would open up new vistas cooperation between the two countries. Reports also suggest that a high-powered Pakistani delegation will visit Russia to find out other fields of economic cooperation apart from signing the gas pipelines agreements. A stateowned company, Inter State Gas Systems, is already engaged in Turkmenistan, Afghanistan, Pakistan and India (Tapi) gas pipeline project to connect South and Central Asia to Pakistan and India. The work on this project in Pakistan will start in March next year. The China Pakistan Economic Corridor and Tapi projects are considered game changers in the region which will not only change the dynamics of economy, but also politics. Another gas project, PakistanIran gas pipeline is in limbo and needs to be activated. Billions of dollars have been spent on this project but is still not reached the operational mode. The experts believe the three gas pipeline projects will not only increase political standing of Pakistan in the comity of the nations, but will also cater to the energy needs of regional countries. Relations between Pakistan and Russia are improving and the new agreements will further push the two countries closure. Russia is looking toward South Asia as an alternative market to sell its gas at reasonable price. The country has huge gas reserves and laying the oďŹ&#x20AC;shore pipeline through Gwadar Port would be in its own interests. Russia has emerged as one of the biggest gas exporting country in Europe and is catering to needs of the industrial sector in Turkey. However, there is a need to take serious view of the agreements as mere signing documents and throwing the same in cold storage will be mere wastage of time and money. Pakistan is energy starved country and desperately needs new sources of energy to feeds the growing industrial base of the country. Earlier, Pakistan signed a 15-year agreement with Qatar to import LNG and the agreements with Russia will strengthen the depleting energy resources in the country. There is also need to explore oil and gas on the shores of Arabian Sea as geologists predict there are huge reserves of oil and gas in the area as it is the same belt where the gulf countries are situated.

growing financial gap of $12 billion A

LAHORE

Dr AFtAB AFZAL

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ccording to newspaper reports, State Bank of Pakistan Governor Tariq Bajwa has told the National Assembly Standing Committee on Finance and Revenue about serious challenges confronted by the national economy, including external Rinancing gap of around $12 billion during the current Riscal year. The governor explained the reasons behind devaluation of the Pakistani rupee and possible challenges to the national economy in the near future. As a matter of fact, the government and the central bank ofRicials are reluctant to share information with general

public on the deteriorating Rinancial situation of the country. Experts believe the government had probably only one option to deal with overwhelming Rinancing gap and to stop the foreign exchange reserves fall below $14.6 billion. The government, which was thumping its chest on Rloatation of international bonds, suddenly came under pressure and had to lower its currency value. Keeping in view the current situation, the governor ruled out any possibility to Rloat another sovereign bond in the international market. The government is likely to seek further loans from the donor agencies without adopting any austerity measures or streamlining the Rinancial affairs of the country. If

short-term loans are small menace, the long-terms loans are big misadventure and this aspect should also be kept in mind before seeking foreign loans. In the event of the US threats and Indian hegemonic designs, threats to the national security as well as economy have been multiplied in recent months. The nation is expecting general elections next year and sudden change of political spectrum in the country has left bad effects on every sphere of the economy. In a situation where the political elite is habitual of stashing its money in foreign banks, how the foreign investors can be persuaded to invest in this country. The gross external Rinancial requirements

have already reached over $20 billion during the current Riscal year. Out of $20 billion liabilities, the government has only around $8 billion, causing a Rinancial gap of $12 billion. Keeping in view the situation on the ground, experts believe the government will have to introduce structural reform in the tax collection system which is, currently, outdated and obsolete. The tax rates are high but tax net is limited and tax to GDP ratio is the lowest in the region. The tax collection system also needs to be simpliRied and instead of introducing tax amnesty schemes, the government should overhaul the tax collection system and curtail the powers of the collection and assessment agents.

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ATIR puts oﬀ hearing of show cause notice on outstanding taxes ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR) dated in office the hearing of a petition challenging a show cause notice issued by the office of the Federal Board of Revenue regarding the outstanding taxes. Accountant Member Dr Ghulam Mujtaba Bhatti reserved the decision on the tax matter filed by M/s Klaguardia Logistics. M/s Klaguardia Logistics challenged the recovery and served a notice on it under the head of outstanding income tax by the LTU Islamabad. M/s Klaguardia Logistics had submitted the demand for the tax year 2016 under the head of income tax under the provisions of Income Tax Ordinance-2001. The Federal Board of Revenue (FBR), officers of LTU including Commissioner Inland Revenue, Commissioner Inland Revenue (Appeals) and Appellate Tribunal Inland Revenue, (ATIR) were made respondent in the case.

2.4 million taxpayers selected for audit

Wednesday December 27, 2017

National

Shc seeks remarks on petition filed by M/s kk enterprises

ISLAMABAD

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s many as 2.4 million taxpayers have been selected for audit, who have obtained National Tax Number (NTN) but failed to file income tax return for tax year 2017. The Federal Board of Revenue (FBR) has received provisionally 1.1 million income tax return for tax year 2017 by November 15, 2017, which was the last date for filing the return for salary persons and business individuals. The FBR sources said that this number will be increased by around 0.2 million of those taxpayers, who had filed income tax returns manually. This means the number of filed returns may reach around 1.3 million. If income tax returns filed by corporate entities due on December 31, 2017, this number may reach 1.35 million. As per Section 114 of Income Tax Ordinance, 2001 every person, who obtained NTN is required

KARACHI

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he Sindh High Court (SHC) directed parties to Rile their comments on a constitutional petition Riled by M/s KK Enterprises against determination of customs values of “ceramic and porcelain tiles” over and above 12.5 percent of the valuation ruling no 874/2016 by Director General of Valuation. A two-member bench, comprising Justice Munib Akhtar and Justice Omer Sial, was hearing the petition. Earlier, counsel for the petitioner stated that it is engaged in import and trade of goods having desperation “ceramic and porcelain tiles”. It was informed by the Customs Department that Director General, Directorate General of Customs Valuation, Customs House Karachi conducted revision proceedings under section 25 D. However, the petitioner submitted that the DG had no jurisdiction to revise customs values of the subject goods over and above 12.5 percent of the valuation ruling no 874/2016 dated 22/06/2016.

Citing Chairman Federal Board of Revenue, Collector of Model Customs Collectorate West, Collector of Model Customs Collectorate East, Collector of Model Customs Collectorate Port Muhammad Bin Qasim

and Director General, Directorate General of Customs Valuation, Customs House Karachi as respondents, the petitioner pleaded the court may declare that act of the respondents as illegal, mala Ride and arbi-

trary. He also pleaded the court may restrain the customs department from collection of enhanced valuation till Rinal decision of their petition and any coercive measures against the petitioner.

procedure for determination of valuations of tyres, issued to file income tax return. The issued NTNs are around 3.75 million out of which only 1.35 million filed their returns, which means around 2.4 million non-filers. As per Section 214D of the Income Tax Ordinance, 2001 all those taxpayers will be selected for audit automatically if failed to file their returns by cut of date. The Section 214D explains: Automatic selection for audit. (1) A person shall be automatically selected for audit of its income tax affairs for a tax year, if (a) the return is not filed within the date it is required to be filed as specified in section 118, or, as the case may be, not filed within the time extended by the Board under section 214A or further extended for a period not exceeding thirty days.

KARACHI

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he Directorate General of Customs Valuation has introduced new procedure for determination of customs values of tyres and tubes for calculating duty and taxes at the time of clearance. The Directorate General in this regard issued Valuation Ruling No. 1236/2017 to revise the previous Valuation Ruling No. 985/2016 dated November 30, 2016 followed by correction dated February 06, 2017. Stakeholders have requested the directorate to determine customs values in line with values prevalent currently in international market. During the meeting of stakeholders and customs authorities, the importers and local manufacturers repeatedly agreed to come up with a

joint proposal on a certain type and size of tyres but no such document was submitted till the issuance of this rling. Their individual proposals had signiRicant variance; importers have requested for further downward revision, whereas local manufacturers, have contended that tyres and tube prices have signiRicantly

appreciated owing to an increase of approximately then percent in the international market. They also contended that the values of certain type of tyres have gradually been decreased giving an undue advantage to importers. The issue of ratio of value of tube imported separately from the tyre was also discussed

threadbare; manufacturers of tubes wanted to increase the ratio from Rive to at least eight percent whereas importers contended that giving such an advantage to importers of tyres brought without tubes with the signiRicant and would compromise government revenue on the one hand and increase the tube values disproportionally. The directorate after hearing the arguments issued the valuation and procedure for customs values of tyres and tubes: Customs values of tyres and tubes shall be assessed to duty and taxes on the deRined customs values, which forms integral part of this valuation ruling along with following conditions: If a radial tyre is imported which is not covered in the ruling and whose speciRications are similar to normal tyre except for being radial, such tyres may be assessed at 25 percent higher than the normal tyre.

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Customs Appellate Tribunal hears couple of references Wednesday December 27, 2017

National FBr restricts duty-free shopping to $75

ISLAMABAD: The Customs Appellate Tribunal heard couple of customs matters involving field offices of the Federal Board of Revenue (FBR) and directed the respondents to submit their replies at the earliest. A division bench of the Tribunal comprising of Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan, heard the matters. M/S United Diplomatic Bonded Warehouse and M/s Danial Engineering had filed the references.

FBr seizes smuggled goods worth rs39.6 billion in three years

ISLAMABAD

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ISLAMABAD

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ederal Board of Revenue (FBR) has restricted duty-free purchase to $75 for cosmetics, foods and other general items after amending Baggage Rules, 2006. The FBR issued SRO 1250(I)/2017 and stated that purchases of perfumes, toiletries, cosmetics or food items per passenger against the duty free allowances shall not exceed seventy five US dollars in each of said categories. The FBR also issued Customs General Order (CGO) No. 07 of 2017 to amend rules related to duty free shops. The FBR said that the duty free shops should allow purchases after determining the bonafide of passenger through barcode reading of his/her boarding pass through the system which is to be installed by management of concerned duty free shop within three months of the issuance of the CGO. It further said that a passenger can avail the duty free shopping after 60 days of his arrival, previously it was 90 days.

two officers return to FBr after serving 5 years in prA ommissioner (Appeal) Punjab Revenue Authority (PRA) Shehzad Mehmood Gondal and Deputy Commissioner Gujranwala PRA Zaka Ullah have relinquished the charge of their offices to join their parent department- the Federal Board of Revenue (FBR) Headquarters Islamabad. Both the officers, who joined PRA of the Government of Punjab, in December 2012 on a five-year deputation, are likely to join further postings in the FBR in days to come. Two notifications in this regard were issued by the PRA, Finance Department Punjab on Wednesday last. Mr Gondal, who is a BS-19 Inland Revenue Service (IRS) officer and Additional Commissioner by designation. –CB Report

ederal Board of Revenue (FBR) has seized goods/items worth around Rs39.6 billion which were being smuggled from Afghanistan and other countries into Pakistan during last three years. The abstract of smuggled goods seized during the period showed on Wednesday that during 2014-15, the goods worth Rs9.582 billion were seized, goods worth Rs14.343 billion seized in 2015-16 and year 2016-17 witnessed seizure of smuggled goods worth Rs15.652 billion. According to Ministry of Interior, smuggling from neighbouring countries has long been a source of concern for Pakistan. The long porous Pak-Afghan and Pak-lran border, the

terrain which is mostly mountainous coupled with volatile law and order situation in region have traditionally made the task of anti-smuggling difRicult for LEAs having jurisdiction in

the bordering area. The smuggling maRia uses unfrequented routes along the border which are located far from notiRied legal routes where Pakistan Customs have no or very thin pres-

ence. Since it is not a regular and documented trade, it is difRicult to determine exact amount of goods/items being smuggled from Afghanistan and other countries into Pakistan.

Auction cell Islamabad fetches rs42 million by selling vehicles & items T

ISLAMABAD

tArIQ DerYA

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he Customs Auction Cell of the Model Customs Collectorate (MCC) Islamabad earned Rs42.00million through public auction of impounded vehicles and smuggling goods on 21nd of December Fiscal Year 2016-17. According to details given by Deputy Collector Tahir Iqbal Khattak that it has been an extraordinary auction regarding the earning of handsome revenue by gearing up ongoing struggle to meet the allocated target for 2nd quarter (October to December) FY17-18. He added that Collector Islamabad Dr. Saeed Khan Jadoon appreciated the Auction Cell for holding a well-organized auction. Telling about the details, Tahir said that the people from Rawalpindi, Islamabad and Pe-

shawar particularly participated in the said auction. The auction was organized by the Alvi Auctioners along with the customs

staff of the MCC Islamabad under the supervision of Deputy Collector Auction. The auction was organized according to the

Customs bylaws of 1969. The bidders deposited 25% of amount on the spot out of the total value of the lots.

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Two cellular companies provide WHT data to FBR, Senate told ISLAMABAD: Two cellular companies, including Ufone and Mobilink, have provided realtime data of withholding tax data to Federal Board of Revenue (FBR), said Minister for Federal Education and Professional Training Baligh ur Rehman while replying to questions at the Senate. He said so far two Cellular Companies i.e. M/s Pakistan Mobile Communication Limited (Mobilink) and M/s Pakistan Telecom Mobile Limited (PTML) [Ufone] had uploaded their data on the new format. The minister said the data uploaded by the Pakistan Telecom Mobile Limited contain certain errors. Pakistan Revenue Automation Limited (PRAL) was in contact with PTML for removal of said errors, he said.

textile exports surge 7.66pc, mount to $5.510b in five months LAHORE

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he textile exports from the country increased by 7.66 percent during the first five months of current fiscal year as against the exports of the corresponding period of last year. The overall textile exports from the country were recorded at $5.510 billion during July-November (2017-18) against the exports of $5.118 billion during July-November (2016-17), showing growth of 7.66 percent, according to the latest data of Pakistan Bureau of Statistics (PBS). The products that contributed in positive growth in external trade included raw cotton, the exports of which grew by 49.78 percent by going up from $33.513 million last year to $50.195 million during the current fiscal year. Sim-

ilarly, the exports of cotton yarn increased from $549.753 million to $553.391 million, showing growth of 0.64 percent while the exports of yarn (other than cotton yarn) increased from $11.061 million to $12.810 million, an increase of 15.81 percent. During the period under review, the knitwear exports from the country increased by 12.07 percent, from $980.489 million to $1098 million while the bed wear exports increased from 6.65 percent from $888.448 million to $947.517 million. The export of readymade garments increased by 14.69 percent by growing from $888.456 million to $1018.991 million while the exports of art, silk and synthetic textile increased by 55.30 percent, from $79.905 million to $124.096 million. During the period under review, the exports of made up articles (excluding towels and bedwear) also increased by 7.92 percent, from $261.272 million to $281.967 million.

National

putting price on emission to increase investment in green energy: Mushahidullah

petitioner files review petition in case against Dg of I&I ISLAMABAD

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/S Kohinoor Trader submitted a review petition at the Customs Appellate Tribunal with regard to an announcement of the tribunal, dismissing its case against Directorate General of Intelligence and Investigation, Islamabad. A division bench of Customs Appellate Tribunal would hear the matter in coming week. A single bench of the tribunal comprising of Member Tribunal, Syed Muhammad Anwar had disposed of the matter earlier. The bench heard the arguments from sides. M/S Kohinoor Traders had filed the case against Directorate of Intelligence and Investigation, Islamabad. Customs Appellate Tribunal disposed of a customs reference filed M/S Royal Group after hearing arguments from sides. Earlier the Customs Appellate Tribunal’s bench comprising of Members Tribunal, Syed Muhammad Anwar and Muhammad NasirKhan heard the case being contested against Directorate General of Investigation and Intelligence, Islamabad. The bench remanded back the matter to departmental adjudication for rehearing.

ISLAMABAD

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inister for Climate Change Senator Mushahidullah Khan has said that putting price on carbon emission would help in increasing investments in green energy and reduced the carbon footprint. Addressing the concluding session of workshop on carbon pricing he said, “The government is cautiously evaluating options to introduce this instrument in a way that our economic pace is not compromised. The ministry has strengthened engagement with the secretariat of the United Nations Framework Convention on Climate Change through its Regional collaborative Centre to evaluate the application of carbon pricing instrument which can best Rit with the national context and priorities while providing beneRits in terms of mitigation action and for attracting international support for climate action”, Carbon pricing, the method favored by many economists for reducing global-warming emissions —charges those who emit carbon dioxide (CO2) for their emissions. That charge, called a carbon price, is

Wednesday December 27, 2017

the amount that must be paid for the right to emit one tonne of CO2 into the atmosphere. Nearly 40 countries and more than 20 cities, states and provinces are already participating in or preparing for a carbon price. By 2020, carbon pricing is set to cover roughly 25% of global Green House Gas emissions. In the region, momentum is growing to incorporate carbon-pricing approaches in national and sub national climate policy. The minister said Pakistan has less than one percent share in global carbon emission but this share is expected to increase considerably as

the country climbs over the development ladder and make efforts to achieve energy security. He further said besides following an ambitious plan to develop its energy sector, climate change has been recognized as a core component of the economic growth model which is linked to development and well being of the population. He also thanked United National Framework Convention on Climate Change and Regional Collaborative Centre for their facilitation and guidance on possible options and effective means to beneRit from carbon pricing instrument on behalf of government of Pakistan.

cpec to be functional by 2030: Fo

ISLAMABAD

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oreign Office Spokesperson, Dr Muhammad Faisal said Thursday that the first phase of CPEC would be completed by 2020 while the entire project would be functional by 2030. During his weekly press brieRing in Foreign OfRice, Dr Faisal said that Pakistan and China regularly monitor the progress of these projects, adding that the decision to bring more projects and highways under CPEC would be taken by the two countries with consensus. He informed that visas have been

issued to the wife and mother of the convicted RAW agent Kulbhushan Jadhav and their meeting would take place in Islamabad on December 25. Replying to a question, he said the meeting between Kalbhushan and his family will be held in the Ministry of Foreign affairs. “There has so far been no decision on the implementation of the spy’s death sentence”, he informed. Dr Faisal said that Pakistan views the issues of Jerusalem as the violation of relevant resolution of the United Nation Security Council (UNSC). “The only lasting solution for peace in the region lies in AlQudus being the capital of a free

Palestine state”, he added. Spokesperson said that Pakistan has repeatedly raised its serious concerns about the escalating presence of DEASH in Afghanistan to the Afghan government and to USA as well. He said big drape of territories not under control of the Afghan Government and are being used for terrorism in Pakistan. “We have conveyed our reservations to Afghanistan in this regard and expect that it will take some concert steps regarding the matter”, he added. Replying to another question, he said that that Indian malicious design has caused the dysfunctionality of the Indus water Treaty. He said that the exclusion the list of terrorists from

recently-held Heart of Asia (HoA) conference statement has given Pakistan a major win at the diplomatic front. “The list was used by India for propaganda purposes against Pakistan”, he added. Dr Faisal emphasized that the fate of Indian occupied Kashmir is not subservient to the orders of Indian courts but to the UN resolution in the matter. He said that Indian atrocities on innocent and defenseless Kashmiris continued unabated this week as well resulting in Shahadat of four people along with continued house arrest and illegal detention of Hurriyat leadership which is highly condemnable and against basic human rights and international law.

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World Customs

US warns companies smuggling fuel to N. Korea

NEW YORK: White House National Security Adviser H.R. McMaster has warned that shipping companies caught smuggling goods into North Korea could be making their “last delivery” anywhere. Mr McMaster said United Nations sanctions have not halted deliveries of essential goods like reﬁned fuel products that North Korea wants. The smuggling is done by ship-to-ship transfers, he said, suggesting that foreign vessels are moving the goods on the high seas to North Korean ships that take them ashore.

Wednesday December 27, 2017

uS Border patrol new orleans Sole traders saving €12k tax on cars sector moves to custom house OLSO

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NEW YORK

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S Customs and Border Protection (CBP) hosted a ribbon cutting ceremony today to ofRicially open the new U.S. Border Patrol (USBP) New Orleans Sector Headquarters and Station at the historic U.S. Custom House. The new facility accommodates more than 30 employees in an 11,000 square feet of newly renovated space with stateof-the-art training, meeting space and additional processing and holding capabilities. The project also consolidates USBP workspace with CBP’s OfRice of Field Operations and other stakeholders. U.S. Border Patrol New Orleans Sector cuts the ribbon on their new location at the historic U.S. Custom House. “Moving Border Patrol operations alongside our valued partners at the historic Custom House is critical to

Indonesia’s export and investment will be better he Indonesian economy in 2018 will continue to grow. In particular, exports and investments will show significant improvement. “So we see exports and investment will continue to provide a good role for economic growth in 2018,” said Governor of Bank Indonesia. According to him, the last few months have shown that export is rising quite high and the contribution of large capital goods and intermediate goods shows signs or preparations for business expansion in 2018. “We welcome that, even though we must say the economic recovery of Indonesia since 2015, 2016, 2017 continues to run but not as fast as we want it, so there is a need for acceleration of eﬀorts, we hope in 2018 will be even better,” he added.Political conditions in Indonesia in 2018 will not negatively aﬀect economic growth. –CB Report

our border security mission.” Said Chief Patrol Agent Jonathan Richards. “With the exception of during Hurricane Katrina, we conducted operations out of the old facility continuously since 1963. Fifty plus years of history will certainly be missed.” CBP executed this project in partnership with the General Services Administration. CBP leadership attendees included Acting Deputy Chief Scott

Luck, USBP New Orleans Sector Chief Patrol Agent Richards, and Border Patrol and Air and Marine Program Management OfRice Division Director Abel Anderson. The New Orleans Sector includes a seven-state area consisting of Louisiana, Mississippi, Alabama, Arkansas, Tennessee, Kentucky and the Florida Panhandle. Four of these states have a total of 694 miles of coastline on the Gulf of Mexico.

Australian accountant arrested in Bali on drug smuggling charges

n Australian accountant who stood as a candidate for the Liberal Democrats in Peter Costello’s Melbourne seat has been arrested in Bali on drug smuggling charges that carry the death penalty. Isaac Emmanuel Roberts, 35, was arrested with 19.97 grams of crystal methamphetamine and several ecstasy pills in his luggage on December, He faced a media conference in Bali today with two other men from Malaysia and

the US, each wearing a black balaclava over their heads and bright orange prison clothes. Guards standing behind them carried assault riRles. Mr Roberts, a chartered accountant who has worked in Brisbane, Melbourne and Sydney, was arrested after a search of his luggage when he landed at the Indonesian holiday island. It is alleged he carried 19.97g of crystal methamphetamine and 14 tablets that later proved to be ecstasy. –CB Report

budget measure that has escaped widespread attention means sole traders can save around €12,000 on income tax if they buy an electric vehicle (EV). Under the Accelerated Capital Allowances deal, self employed sole traders who buy an EV can front load the depreciation on the car for the Rirst year and save close to €12,000 on their tax bill. According to Nissan chief executive James McCarthy, “When people Rinally wake up to this, there will be a Rlood of sole traders looking to get into an electric vehicle. It’s a direct deduction from your tax bill.” It is also in addition to zero BeneRitin Kind (BIK) for those who drive an electric company car. Boosted by such incentives, EV sales are expected to double here next year, al-

beit from a small base. And this year’s cumulative total of 3,200 is forecast to increase to 14,000 by 2020. The biggest constraint on growth in the medium term will be supply of product as demand is picking up quickly across Europe. Also restricting pickup is lack of a centralised structure here to manage and develop the whole EV system and charging network. At the moment there are several departments involved in some way or other with electric vehicles: Transport, Finance and Environment, to name three. So on the one hand taxpayers are footing huge concessions such as BIK and Accelerated Capital Allowances for EVs, on the other no real progress is being made on the infrastructure, not to mention how much people should pay for charging their vehicles at public points. Norway and Ireland started out on much the same EV footing a few years back. Norway now has 150,000 electric vehicles on its roads.

customs egates open to more travelers uropean visitors from France, Germany, Ireland and the Netherlands can set about sightseeing and looking for Hobbits more quickly now they have the green light to use Customs’ eGates. Formerly known as SmartGates, eGates allow eligible passengers to complete immigration checks quickly and easily without talking to a Customs officer. Kiwis, Aussies, Brits, Canadians and Americans have been passing through the gates for sometime, while Chinese ePassport holders were last month also granted permission to use them.

“Expanding eGate to more countries will help to manage the increasing number of travellers arriving and departing New Zealand,” Customs’ Anne Marie Taggart says. “It also means that Customs officers can focus on travellers that may present a risk.” More than 24 million people have used the gates since their introduction at New Zealand airports in 2009, with plans underway to allow more countries’ citizens to use the gates in the near future. The eGates are located in Auckland, Wellington, Christchurch and Queenstown. –CB Report

eu compensates as uk pork exports to china slip

LONDON

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K pork exports grew 7% in October, compared with a year earlier, reaching 16.6 thousand tonnes. With average unit values comparable to 2016 levels, value was up in line with volume at £23.2 million.

According to AHDB analysis, this growth came despite shipments to China declining a noticeable 31% (940 tonnes) year-on-year, falling from the Rirst to fourth largest UK pork export market. This was the Rirst month since June that UK shipments to China had fallen below year earlier levels. Despite Chinese pork imports overall remaining below 2016 since March, demand for UK

product had seemed robust. Whether this decline is the Rirst sign of UK product being affected by the Chinese slowdown remains to be seen. However, Rabobank have recently suggested that there could be some recovery in import demand from China in 2018. This would be from the Eastern and Southern regions where production is declining and a lack of infrastructure means

domestic production is not yet competitive. Nonetheless, in October, exports within the EU more than compensated for the Chinese decline. At 11.8 thousand tonnes, volumes were 22% up on the year. Shipments to Denmark and Germany particularly increased. While from a smaller base, Belgian volumes almost doubled and there was also growth to Sweden, Italy and Poland.

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Melbourne port blockade continues MELBOURNE: A blockade continues two days after the Supreme Court ordered unions to abandon a picket line at a Melbourne port, which is preventing the shipping of goods for Christmas. Action started at the Victoria International Container Terminal’s Webb Dock on over a dispute involving a Maritime Union of Australia worker, creating a backlog of millions of dollars worth of goods, including perishables. At least a dozen people remain at the site of the blockade, after Tuesday’s court order preventing union representatives from continuing the action.

kpt shipping movements report ollowing were the Movements of Ships at Karachi Port Trust (KPT) during last 24 hours, ending at 0700 hours. SHIPS SAILED: Capre Diem II Huundai Force SHIPS BERTHED: King Douglas Tanker Sima Giselle Container Ship Bunga Lavender Tanker EXPECTED SAILING DATE COSCO New York 21/12/17 M.T.Shalamar 21/12/17 YM Wealth 21/12/17 Suzuka Express 21/12/17 Union Trader 21/12/17 Sima Genesis 22/12/17 MOL Explorer 22/12/17 Sima Giselle 22/12/17 EXPECTED ARRIVAL DATE CARGO Van Cherry 21/12/17 D/739, Vehicle Zi Jing Song 21/12/17 D/2015 GC M.T.Lahore 22/12/17 D/70000 Crude Oil Corona 22/12/17D/12000. Palm Oil Northern Priority 22/12/17 Cont Sabya 22/12/17 Cont Positive Pioneer 22/12/17 D/1304 Vehicle Great Link 22/12/17 D/59604 Coal Meanwhile, Following were the Movements of Ships

Ports & Shipping

Italy tops Iran’s trade partners in europe,

Qatar, uk to support small businesses in both countries to boost exports atar and the UK have decided to support small businesses in both the countries and improve access to trade financing to help exporters as part of efforts to strengthen the bilateral economic relations. This was the outcome of the inaugural meeting of the Joint Economic and Trade Commission (Jetco) between Qatar and the UK yesterday. The UK’s International Trade Minister Greg Hands held talks with Qatar’s Minister of Economy and Commerce HE Sheikh Ahmed bin Jassim bin Mohamed al-Thani at the inaugural meeting of Jetco. “I am delighted to be meeting with my Qatari counterparts today as we look to strengthen our trade and investment relationship, identifying opportunities for growth and breaking down barriers to trade between our nations. We are committed to building a long and fruitful trading partnership with Qatar over the coming months and years,” Hands said. –CB Report

ROME

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he latest Eurostat data shared with Rinancial tribune show Italy was Iran’s biggest trade partner in the European Union during the nine months ending September 2017, with bilateral trade reaching €3.45 billion. Eurostat is the Directorate General of the European commission located in luxembourg. Its main responsibilities are to provide statistical information to European Union institutions and promote the harmonization of statistical methods across its member states and candidates for accession as well as among the European free trade association countries. The data also indicate that Italy tops the list of Iran’s biggest export destinations in the EU, as it imported €2.2 billion worth of Iranian commodities during the period. France was Iran’s second biggest trade partner in the EU, as the two

Wednesday December 27, 2017

countries exchanged €2.93 billion worth of goods during the nine months. Exports from Iran accounted for €1.87 billion of the total. Germany was next with €2.41 billion worth of trade with Iran. The European country was, in fact, the biggest European exporter to Iran during the period under review, shipping €2.12 billion worth of goods. Iran’s fourth biggest trade partner in the EU was Spain. Bilateral trade stood at $1.234 billion with Iran’s ex-

ports accounting for $957.9 million. The Netherlands followed with €1.15 billion worth of trade with the Islamic Republic. Iran exported nearly €597.92 million worth of goods to this country and imported close to €553.72 million in return. Close to €14.78 billion worth of commodities were exchanged between Iran and all European Union states during the nine months, about 1.6 times as much as the Rigure registered in last year’s corresponding period.

Minister signs accord to facilitate exports at Karachi Port Trust (KPT) during last 24 hours, ending at 0700 hours on Wednesday. SHIPS SAILED: Ginga Puma Tirua Chipolbrok Atlantic DL Violete COSCO Durban FS Diligence SHIPS BERTHED: Chipolbrok Atlantic General Cargo Marie Grace Fertilizer M.T Shalamar Tanker Carpe Diem 11 Tanker Hyundai Force Container Ship BW Lithium Tanker COSCO New York Container Ship SBI Lyra Coal Athos General Cargo SIMA Genesis Container Ship EXPECTED SAILING DATE Care Diem 11 20/12/17 Hyundai Force 20/12/17 COSCO New York 21/12/17 EXPECTED ARRIVAL DATE CARGO M.T Karachi 20/12/17 D/70000 Crude Oil Al Mahboobah 20/12/17 D/16290 Chem. –CB Report

JAKARTA

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inister of National Economy Abeer Odeh, Sunday signed a memorandum of understanding with her Indonesian counterpart to facilitate exporting products to Indonesia. The agreement, which is a product of bilateral efforts to enhance relations between the two countries, was signed on the sidelines of the 11th ministerial conference of the World Trade Organization held in the Argentine capital Buenos Aires. As the agreement states, import fees collected by the Indonesian side on olive oil and dates will be canceled as a Rirst step, and then other goods will be added to the list. This move comes as part of the Indonesian support to Palestine and to strengthen the economic and so-

cial life of Palestinians. Meanwhile, The US Department of Commerce has imposed preliminary anti-dumping duties on biodiesel from Argentina and Indonesia ranging from around 50 to 70 per cent. The initial Rinding from

the commerce department said exporters from Argentina had sold biodiesel at dumping margins of 54.36 to 70.5 per cent, while exporters from Indonesia sold it at a margin of 50.71 per cent. The department said in a statement it

would instruct US Customs and Border Protection to collect cash deposits from importers of biodiesel from the two countries based on those respective rates. Wilbur Ross, US commerce secretary, said in the statement that Argentina’s government had already requested negotiations to suspend the antidumping duties and related countervailing duty investigations. But he added that while the department was working on possible agreements, it “would only sign such agreements if they ensure that injury to the domestic biodiesel industry is eliminated and that the unfair trade practices are addressed.” The US imported just under 2m tonnes of plant-based biodiesel fuel derived from vegetable oils or animal fats from Argentina and Indonesia in 2016, about 80 per cent of the total.

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NAB intelligence wing arrests PO LAHORE: National Accountability Bureau (NAB) Lahore arrested an accused, Sohail Ikhlaq, from DHA area. According to NAB spokesman, the accused acquired loan amounting to Rs 30 million from a private bank by pledging two properties, owned by him. Later he fraudulently sold both the properties and disappeared. The bank approached NAB Lahore in 2010 for recovery of its money. An inquiry was initiated and the accused was summoned. Later, NAB Lahore ﬁled a corruption reference with the accountability court in 2014 and the accused was declared a proclaimed oﬀender in 2015.

Wednesday December 27, 2017

Business

‘pakistan to facilitate Afghanistan for trade’ ISLAMABAD

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eputy Chairman of Planning Commission, Sartaj Aziz said that Pakistan wanted to facilitate Afghanistan for transit trade. “We wanted to have meetings with Afghanistan to resolve the business related issues existing between the two neighboring countries, “ he said while talking to a private news channel. Pakistan desired to hold meetings with Afghan ofRicial but they were reluctant to consider the offer, he said. Through dialogue involving the ofRicial of both the countries, the issues of transit trade could be addressed, he

3g/4g users reach million in pakistan KARACHI

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said. Expressing serious concerns over attacks targeting the children and the people of Pakistan from Afghan soil, he said that we would take action to counter such objectionable activities. To a question, he

3454 dumping sites in 1100 villages cleared through cM program

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he number of 3G and 4G users in Pakistan reached 47.204 million by end November 2017, Pakistan Telecommunication Authority (PTA) revealed. Number of mobile phone users in Pakistan reached 143.34 million by end November 2017 compared to 142.404 million by October 2017, and registered an increase of 0.936 million during the period under review. Jazz’s total count for 3G users stood at 14.096 million by end November compared to 13.93 million by end October 2017.

said “We will not allow India for transit trade with Afghanistan through using the land of Pakistan.” Indian trade was not associated or linked with Afghanistan, he said. To another question, he said efforts

were being made to improve the roads linking Chaman-Torkham border for easy passage of trucks. Meanwhile, Pakistan wants to initiate negotiation with Pacific and South East Asian nations on proposed Free Trade Agreement (FTA) for enhancing the multilateral trade and competitiveness in country’s trade. Countries including Japan, Indonesia, Vietnam, Philippines in Pacific region also in list for starting dialogue on Preferential Trade Agreement (PTA) leading towards FTA for promoting trade liberalization, a senior official of Ministry of Commerce told. He said Pakistan and Indonesia had agreed on concession for 20 different items during bilateral negotiation under Preferential Trade Agreement (PTA).

RAWALPINDI

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s many as 3454 dumping sites in 1100 villages of Rawalpindi District have been cleared under first phase of ‘Khadim-e-Punjab Saaf Dehat Program’ launched in Punjab said Deputy Commissioner Rawalpindi Talalat Mehmood Gondal. He said cleanliness system in rural areas is being improved in Rawalpindi district under the program launched on the directive of CM

Punjab Muhammad Shahbaz Sharif. He said it is Rirst of its own kind in the history of Pakistan that such initiative has been taken for the rural community and to provide the people clean atmosphere which would keep them safe from diseases. The community will also be involved in the programme to make them realize that sanitation is mandatory not only for their faith but also for comfortable and healthy life as well, he said adding, participation of the community and association of Local Government organizations is mandatory to keep this campaign successful. He

said, the Punjab government is not only focusing urban areas but also rural areas and the initiative of the CM Punjab is a revolutionary step which clearly depicts that he prefers the well-being of rural areas in the same way. He said that respective ACs have been nominated as focal person who are working in close coordination with UC Chairmen and Secretaries to serve this purpose. He said, phase-II of the program to be started by January and the government has not only increased budget but also would provide required machinery for this phase.

Strong economy imperative for progress, prosperity FAISALABAD

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akistan Muslim LeagueNawaz (PML-N) City Women Wing President MNA Begum Khalida Mansoor has said strong economy was imperative to make Pakistan developed and prosperous country. Addressing a function held in connection with birth anniversary of Quaid-e-Azam Muhammad Ali Jinnah here, she paid tribute to Quaid-e-Azam Muhammad Ali Jinnah on his historic eﬀort to get a seperate homeland for Muslims. She said sincere PML-N leadership was striving hard to drag the country out of the prevailing crisis and put Pakistan on road to progress and prosperity as visioned by the Quaid-e-Azam Muhammad Ali Jinnah. General Secretary of PML-N Women Wing Shumaila Chaudhary, Shafia Imran, Munaza Ali, Saliha Chaudhary, Shamim Kausar, Naseem Mushtaq and others were also present on the occasion. Earlier, Begum Khalida Mansoor also cut a cake to celebrate birth anniversaries of Quaid-e-Azam Muhammad Ali Jinnah and former Prime Minister Nawaz Sharif. Similar functions were also held in Katchery Bazaar and Sain Di Khohi where MPA Mian Tahir Jameel and MPA Hajji Elyas chaired the events.

LSMI witnesses impressive growth of 9.64 % in four months ISLAMABAD

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he Large Scale Manufacturing Industries (LSMI) of the country witnessed an impressive growth of 9.64 percent during the Rirst four months of the current Riscal year compared to the corresponding period of last year. The country’s LSMI Quantum Index Numbers (QIM) was recorded at

135.95 points during July-October (2017-18) against 123.99 points during July-October (2016-17), showing growth of over 9.64 per cent, according to the lastest data of Pakistan Bureau of Statistics (PBS). The highest growth of 5.90 percent was witnessed in the indices monitored by Ministry of Industries, followed by 2.69 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 1.06 growths in the indices of Oil Companies Advisory Committee (OCAC).

On year-to-year basis, the industrial growth increased by 8.77 percent during October 2017 as compared to same month of last year, while on month-tomonth basis, the industrial growth increased by 5.59 percent in October 2017 when compared to growth of September 2017, the PBS data revealed. Meanwhile, the major sectors that showed growth during July-October (2017-18) included textile (0.70 percent), food, beverages and tobacco (14.24 percent), coke and petroleum

products (15.67 per cent), pharmaceuticals (2.93 percent), chemicals (2.29 per cent), non-metallic mineral products (13.03 percent), automobiles (28.40 percent), iron and steel products (44.39 percent), electronics (65.03 percent), paper and board (7.56 percent), engineering products (15.29 percent) and rubber products (4.14 percent). On the other hand, the LSM industries that witnessed negative growth, included fertilizers, the production of which decreased by 9.84

percent and leather products, the output of which declined by 2.72 during the period under review. The provisional QIM is being computed on the basis of the latest production data of 112 items received from sources including Oil Companies Advisory Committee (OCAC), Ministry of Industries and Production (MoIP) and Provincial Bureaus of Statistics (PBoS). OCAC provides data of 11 items, MoIP of 36 items while PBoS proved data of remaining 65 items.

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Iran handmade carpet exports up 31% TEHRAN: Deputy Head of Iran’s Carpet Center for Economic Affairs Mohammad Mehdi Farshchi said Iran exported $270 million worth of hand-woven carpets during the 8 months of the current Iranian year. Speaking during a local ceremony in Qazvin on Monday night, Farshchi said the figure shows a 31% hike compared with the similar period of a year before. Iran exported $290 million hand-woven carpet in 2016, he said, adding the figure rose to $359 million in 2016, rising by 3 percent in terms of weight and and 23 percent in terms of value. He added 29 countries are the main buyers of Iran’s handmade carpets, among them are 13 Asian, 11 European, 4 Americans and 1 African countries. Japan, Germany, Italy, Switzerland, France, Britain, the UAE, Kuwait, Lebanon and Qatar are traditional markets for the luxury Iranian product. He underlined that $141 million worth of carpets were exported to the Asian countries.

‘romania keen to promote bilateral trade with pakistan’

Wednesday December 27, 2017

Chambers

Sri Lanka keen to enhance bilateral trade with pakistan

SIALKOT

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omanian Ambassador to Pakistan Niculaie Goia and Mihai Stefan Dinu, Minister Consular-Head of the Economic Section, on Tuesday visited Sialkot Chamber of Commerce and Industry (SCCI) to discuss ways and means to increase bilateral trade between Romania and Pakistan. Addressing the members of SCCI, he said that collective eﬀorts were direly needed for the promotion of two-way trade between the two countries. He said that business community of Pakistan should focus attention on exploring Romanian market and introduce their products, adding that Romanian market would be highly profitable for Pak-

istani business community. About the mega project, China Pakistan Economic Corridor (CPEC) would definitely open new era of development and prosperity not only for Pakistan but also for the whole region, he said. The Ambassador further said that Pakistan was a peaceful country and rendering huge scarifies in war against terrorism and the world should recognize the scarifies of Pakistan. The Ambassador further said that both the countries were enjoying highly cordial relations and these ties would be further strengthened with the passage of time. In his address of welcome, President SCCI Zahid Latif Malik said that both sides should work for developing greater trade linkages in fields of information technology, defence production and number of other sectors. Both countries can learn and benefit from sharing of experiences and best practices in the respective fields, he said.

ISLAMABAD

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L Gnanatheva, Consul General of Sri Lanka based in Karachi along with Counsellor of Sri Lankan High Commission visited Islamabad Chamber of Commerce & Industry and said that his country was keen to further enhance bilateral trade and economic relations with Pakistan as both countries have good potential to do trade in many areas. He said many Pakistan products including pharmaceuticals, rice, fruits & vegetables, steel, cement, garments & textiles have huge potential in Sri Lanka and similarly Sri Lankan tea, wall tiles, Rloor tiles, bathroom Rittings have great scope in Pakistan. He urged that business community of both countries should step up efforts to realize all potential areas of business cooperation. He said Sri Lanka has signed FTAs with China and SAARC countries and by enhancing cooperation with it, Pakistan could get better access to huge markets of ASEAN and China. He said Sri Lanka was producing 75% electricity through hydro

source and both countries have good potential to cooperate in energy sector for achieving mutually beneRicial outcomes. He said Sri Lankan manufacturers had made huge investment for enhancing production capacity focusing on Pakistan, but hike in regulatory duty by Pakistan has affected Sri Lankan exports to it. He said Sri Lanka was the Rirst country to sign FTA with Pakistan, but Pakistan’s approach of increasing taxes through SROs was a problem in exploiting full of FTA. He said Sri Lanka

has made attractive investment policies for foreign investors and Pakistani investors should explore Sri Lanka for JVs and investment. He said there was huge scope for Pakistani pharmaceutical sector to invest in Sri Lanka and enhance exports to many other countries. Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that despite signing FTA, bilateral trade between Pakistan and Sri Lanka was not encouraging and

ApwcpS urges govt to facilitate women chambers RAWALPINDI

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ll Pakistan Women Chambers Presidents’ Summit (APWCPS) urged the government to pass an Act so that the business women may be taken on board in all the standing committees, advisory committees and all the other departments under the control of federal / provincial governments. Addressing the APWCPS’ concluding session, President of Rawalpindi Chamber of Commerce and Industry (RCCI) Zahid Latif Khan said the government should facilitate the women chambers in all the national and international exhibitions and trade delegations through TDAP and other agencies. The RCCI president said Government of Pakistan should introduce

the Rinancing facilities short term/ long term loans at relaxed terms in the upcoming annual budget of 2018 and provide a Tax waiver of 35 years for the women startups on small and medium industry. While highlighting key points of joint declaration, RCCI chief said Government of Pakistan should give special emphasis to women entrepreneurs in mega projects like China Pakistan Economic Corridor etc. and organize seminars and conferences at women chambers about CPEC. It was proposed that Sexual Harassment Act 2010 should be implemented all across Pakistan in its true spirit. An exclusive circle be established in all zones of Income Tax Department for women entrepreneurs. It was demanded that tax exemption threshold for female entrepreneurs may pleased be increased to Rs.1 million. Joint declaration also

urged government to provide a friendly Business Environment for women business entrepreneurs in the country. All government departments like Social Security, EOBI, Tax department be instructed to deal with the Women Entrepreneurs with the view to encourage their growth. Zahid Latif Khan said that more than 17 Presidents of Women Chambers from all over Pakistan, Lahore Karachi, Mardan, Quetta, Multan, Attock, Peshawar etc attended the two days summit. The main purpose of this initiative was to provide women a platform to excel in the Rield of entrepreneurship, improve networking and consultation, he added. He also highlighted the key initiatives of RCCI in promoting business activities and entrepreneurship and said that Women Business Incubation Center (WBIC) is one of the example.

stressed that both countries should focus on improving business linkages between their private sectors for exploring all untapped areas of mutual cooperation. He said encouraging frequent exchange of trade delegations and organizing single country exhibition was the way forward for both countries to promote bilateral trade and economic relations. He assured that ICCI would work with Sri Lankan High Commission to improve trade relations between Pakistan and Sri Lanka.

SMeDA’s eﬀorts for entrepreneurship lauded omen Chamber of Commerce and Industry Multan (WCCI) President Fiza Mumtaz has appreciated Small and Medium Enterprises Development Authority (SMEDA) initiatives to promote entrepreneurship among women of southern Punjab. She expressed these views in a meeting with SMEDA in Charge (Women Entrepreneurship Development Cell) Ms. Tania Buttar at mega women business conference in Multan, according to SMEDA spokesman here Wednesday. He said that Ms. Tania, after attending the conference as a panellist, had submitted a report of recommendations regarding women entrepreneurs of southern Punjab, to SMEDA CEO Sher Ayub Khan. –CB Report

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Customs Court approves judicial remand of smuggler MULTAN: The Special Federal Court of Customs Taxation and Anti-Smuggling has sent accused on judicial remand after expiry of physical remand which were arrested during smuggling of mobile phones and goods. According to details, Multan Customs authorities seized various 30 branded cell phones including I-phones 8, Samsung and other electronic goods during attempt of smuggling from Multan International Airport. Accused who was identiﬁed as Muhammad Tariq son of Haji Muhammad Ali and he was resident of Shah Rukne Alam.

Wednesday, December 27, 2017

CUSTOMS BULLETIN

customs gB generates rs178 more revenue than earmarked collection target GILGIT-BALTISTAN tArIQ DerYA

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he Customs Collectorate of Gilgit-Baltistan received more than Rs200million revenue against an allocated revenue collection target of all duties and taxes during Rive months and 12 days of FinancialYear 201718. According to details given by Akbar Jan, Deputy Collector Model Customs Collectorate of GilgitBaltistan (GB), while talking with Customs Today during an exclusive interview that, during Rive months and Rirst 12 days of December Fiscal Year (FY) 2017-18, the collectorate showed satisfactory performance. During above said period, the collectorate generated Rs2301.93million of revenue under the head of all duties and taxes whereas it was assigned an proportional revenue target of Rs2124.22million. The GB earned Rs2011.51million under the same head during the same period of corresponding FY16-17. Akbar Jan informed CT that the GB showed 8.37% growth against an assigned proportional revenue target while it demonstrated 14.44% growth against the revenue collec-

tion during the same period of previous of FY16-17. The Deputy Collector told correspondent that the GB received Rs205.99million under all the heads against an earmarked proportional revenue target of Rs133.99million. The GB collected Rs72.00million extra revenue under

the head of all taxes during 12 days of December FY17-18. The GB posted 53.74% increase against an allocated proportional revenue target during Rirst 12 days of December FY17-18 while it showed 11.27% growth against the revenue collection of the same period of corresponding FY16-

17 under the same head. He notiRied the correspondent that the Customs Collectorate of GB got Rs78.11million of Customs Duty (CD) during 12 days of December FY17-18 against an earmarked revenue target of Rs65.59million. The GB generated extra revenue of Rs12.52million as

Customs Duty during said period. The GB displayed 19.10% growth against an assigned proportional revenue target of 1st to 12th December FY17-18 whereas it did 10.52% growth against a revenue collection during the same period of previous FY16-17 as Customs Duty.

pakistani It companies won recognition at international forums ISLAMABAD

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akistani companies have repeatedly won recognition at international forums and count world’s largest and most reputable entities among its regular clients, said managing director Pakistan Software Export Board (PSEB) Iftikhar Shah. He said, at yearly APICTA Awards,

Pakistani IT companies have consistently won top awards and several Pakistani IT companies are ranked among the fastest growing companies in Pakistan. The presence of international IT companies in Pakistan, such as IBM, Intel, Huawei is a vote of conRidence in Pakistan’s potential as an IT destination. He said, PSEB has launched several programs to bolster the local IT Industry these include IT company capability development through international certiRications such as CMMi (28 companies), 9001 (110 companies),

ISO27001 and ISO20000 (24 companies). These coveted certiRications make it easier for IT companies to solicit business from overseas entities, he added. Pakistan is ranked as the 4th most popular country for freelancing in the Online Labor Index published in 2017 by Oxford Internet Institute (OII) and is consistently ranked among the top destinations for ICT outsourcing as a result of strong government efforts and stellar commitment to the growth of the IT sector in Pakistan. There are already plenty of Pakistani IT companies working in

international arena mainly named as ‘Mindstorm Studios’, ‘GameView Studios’, ’Pepper PK’ and ‘TkXeL’ etc. From these companies, ‘TkXel’ has created mobile applications and gaming companies from a university lab in Lahore while Pepper PK made history by developing paid BlackBerry applications which reached top rankings on BlackBerry’s App World store. Tintashhas designed many innovative casual games for iPhone, iPad, and Android platforms. Games are not the only avenue on the mobile platform that Pakistani companies are focusing on, bit a

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).

number of companies have looked at broader educational and infotainment markets. Folio3 judged as one of the Harvard Business School’s All-World Fast Growth 500 companies in 2010 has interesting products in its portfolio. Folio3 has been instrumental in creating an online educational platform for SecretBuilders a company that boasts a virtual world for children 5 to 14 years old powered by a Web 2.0 community of children, parents, educators, writers, artists and game developers. Pakistan has produced some great gaming studios.