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irectorate General Customs Intelligence and Investigation (I&I) arranged a ceremony in honour of those employees who showed outstanding performance during various anti smuggling operations in the region. Director Customs Intelligence and Investigation Rubab Sikan-
der distributed these shields among employees. Superintendent Saleem Ullah Khan, Zulfiqar Ali Dogar, Agha Sultan Haider, and Hamid Dar were awarded honorary shields. Inspectors Sohail Murtaza, Hamid Babar, Nadeem Ahsan, Ihtesham Naveed, ZulOiqar Ali, Malik Sohail, Iqbal Zaman, Ranjha Mehwish, Manzoor, Wajih Samreen, Aslam Iqbal, Abdul Hameed Bhatti, Mohammad Rashid, Ghulam
Vol 2, Issue No. 334
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Mustafa, Maqsood Hussain, Aftab Ahmad, Mohammad Akram, Zafar Iqbal, Saifur Rehman, Shakir Shah, Naseer Wattoo, Mohammad Amin and Mohammad Farooq were also awarded with honorary shields. During her address Director Rubab Sikandar lauded the services rendered by Customs anti-smuggling squads during different operations. She said that these employees always come upto the expectations of the department.
Customs North Region collects Rs 242m more than assigned target
Surriya Butt due to revise Valuation Ruling : 788/2016 on March 23
Customs recovers huge quantity of NDP cigarettes from Ch Brothers
Railways adds 1405 modern wagons for coal loading
Customs seizes 1,500kg drugs worth over Rs2m: Collector Asharf Ali
North Region generated Rs 242m extra revenue under all the heads | See pAge 02 |
DG Valuation has decided to revise the ValuationRulingNo:788/2016onMarch23 | See pAge 03 |
Customs I&I team raided at the godown of Chaudhary Brothers Cargo Service | See pAge 04 |
PR has added 1405 modern wagons for coal loading and unloading for Qadirabad | See pAge 14 |
Collector Ashraf has said that the Customs oďŹƒcials have seized drugs | See pAge 16 |
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Customs Islamabad records 1435.28 percent increase in FED Tuesday, February 13, 2018
ISLAMABAD: The MCC Islamabad showed 1435.28% increase against an assigned revenue collection target of FED during the month of January FY17-18. According to details given by Ch Zulifqar, Collector Model Customs Collectorate (MCC) Islamabad, that, during above said period, the collectorate received Rs142.34million as Federal Excise Duty (FED) against an allocated revenue collection target of Rs9.92million. The MCCI earned Rs132.46million extra revenue against an earmarked revenue target of FED for the month of January FY17-18.
Islamabad
customs north region collects rs 242m more than assigned target
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he Federal Board of Revenue (FBR) has said that 2 per cent of the buyers have ever disclosed any foreign properties in their annual returns. It was disclosed after a media report revealed that about 7,000 Pakistanis have bought properties worth Rs1.1 trillion in Dubai during the last 15 years. Talking to media, Miftah Ismail, who is the Adviser to the Prime Minister of Pakistan for finance, revenue, and economic affairs with the status of a federal minister, said that a person bringing dollars to Pakistan neither paid any tax nor could be questioned by the FBR. People first send money abroad Hawala and later whiten that through amnesty scheme, he said, adding that but the government wants to bring a new scheme through the practice. Miftah said the government wanted to introduce an amnesty scheme during the current tenure. Actually, it would be wrong to describe it an amnesty scheme as they were going to end the amnesty scheme, he said. He said their objective was to bring a scheme to encourage the Pakistanis to invest in the country and give a chance for regularising the money to those having assets in or outside the country.
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he North Region generated Rs 242 million extra revenue under all the heads against the target set for the month of January FY17-18. According to details given by ofOicial sources of the North Region, which comprises Model Customs Collectorates of Islamabad, Peshawar, Gilgit-Baltistan and Samberial, that the North Region earned Rs 3,117 million of all taxes during January FY17-18 while it was assigned Rs 2,874 million target. Sources told Customs Today that during the month of January, the MCC Islamabad received Rs 1,774 million as all taxes whereas it was allocated Rs 1,260 million target for the month of January FY17-18. The MCC Islamabad earned Rs 514 million extra revenue under all heads against the set revenue target. Sources informed CT that the MCC Peshawar surpassed the assigned revenue collection target under all heads with an extra amount of Rs126.12million against an allocated revenue collection target. The MCC Peshawar collected Rs 1,858.91 million under the head of all taxes during the month of January whereas it was earmarked a revenue collection target of Rs 1,732.79 million. The MCC Gilgit-Baltistan remained still closed since November FY17-18 and will be opened for
only 2% pakistanis disclosed foreign properties in returns: fBr
business activities in the month of April FY17-18. It was notiOied that the MCC Samberial generated Rs518million under all heads during January FY17-18 while it was assigned Rs.-118million under the same heads for the month of January FY17-18. It made a difference of Rs 399.77million against the earmarked revenue collection target. Meanwhile, The Quick Response
Force (QRF) of the MCC Islamabad took into possession contraband goods and vehicles worth Rs8million during Oirst half of FY2017-18. According to details given by Shahrukh Butt, In-charge Quick Response Force (QRF) Islamabad, that the force registered Oive cases against tax evaders during above said period. The QRF has also registered Oive cases of smuggling of goods and im-
pounded Oive offending vehicles during said period. In the Oirst seizure, the QRF seized 350 kilogram of foreign origin ladies plain cloths priced at Rs0.183million. In the 2nd case, the QRF conOiscated 515kg of suiting cloths, 552kg of ladies suiting polyester cloths as well as it impounded 50kg of tea and four airconditioners along with an offending vehicle valued at Rs2.1million.
customs Tribunal reserves verdict of reference filed by M/s pTcL
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ustoms Appellate Tribunal reserved a decision of M/S Pakistan Telecommunication Company Limited’s customs reference and dated in ofOice the hearing of other cases during recent week. Member Technical Ziauddin Wazir heard the matter along with other cases involving Model Collectorate of Customs and Directorate
General of Intelligence and Investigations, Islamabad. M/s Pakistan Telecommunication Company Limited had Oiled customs reference against Customs Collectorate. The bench reserved decision after hearing the arguments in the case. Meanwhile, the bench adjourned hearing of cases Oiled by Khurram Zafer Nazeer Ahmed, and M/s Musa Ghee International’s against MCC and M/s Waseem Autos and M/s Nisar Traders cases. M/s Waseem Autos and M/s Nisar Traders had Oiled
cases against Collectorate of Customs and Directorate General of Intelligence and Investigations, Islamabad. The bench had dated in ofOice hearing of cases Oiled by M/s Parts & Parts, M/s Chief Autos, M/s Aman Elahi, M/s Kohinoor Traders, M/s Saleem Silk Centre, M/s Five Star Trading, M/s Pakistan Royal Group and M/s Nayatel Private Limited, M/s Degicell & others, M/s Kohinoor Chemicals, Mirza Muhammad Majid, M/s Fazal Razzaq, M/s Fazal Ur Rehman and Gul Rehman & others.
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SHC orders release of six nonwoven interlining buckram consignments KARACHI: A Sindh High Court’s customs appellate bench has ordered release of six consignments of nonwoven interlining buckram. The customs appellate bench, comprising Justice Munib Akhtar and Justice Mrs Ashraf Jahan, issued order over ruling an order-in-revision passed by the Director General Valuation adding a new item while hearing a revision application. The bench was hearing constitution petitions filed by two importers Taipan and Ana & Batla private limited who challenged the enhancement of value of the imported item travelling beyond section 25 of the Customs Act 1969.
Sindh excise collects rs27.31b revenue in 1H with 11% growth
Tuesday February 13, 2018
Karachi
Surriya Butt due to revise Valuation ruling: 788/2016 in March
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indh Excise and Taxation Department has collected Rs27.31 billion in revenue during the first half of 2017-18, showing a growth of 11 per cent over the corresponding period when collection stood at Rs24.69 billion. Almost all the heads under which duty and taxes are being collected recorded moderate to big gains with the exception of property tax, which made a modest fall of 1pc to come in at Rs1.24 billion during first half of the last fiscal year. The highest growth has been registered in collection of excise duty by 48pc at Rs2.33 billion as against Rs1.57 billion collected in the same period last fiscal year.
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ASo foils bid to smuggle narcotics worth rs 50m KARACHI
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akistan Customs Preventive Anti -Smuggling Organization (ASO) has foiled a bid to smuggle a huge quantity of narcotics worth millions of rupees. According to the details, a team was constituted to bust the smuggled narcotics being carried through a passenger bus. Source informed Customs Today that the ASO Preventive team beefed up surveillance and started checking very passenger bus near Mochko. A passenger bus was intercepted by the team. The ASO officer along with other team member started a searching the bus. The sources said that before conducting search all the passengers were asked to alight from the bus. During the search the Customs Preventive recovered 50 kilogram chars concealed in the secret places of the bus.
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he Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 788/2016 in March , 2018, it is learnt. Director General Surriya Butt has said the department was reviewing suggestions from importers to set new prices of porcelain wares. She said some valuations, issued in 2016, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in the international markets. Sources said a petition was submitted by the importers to the Customs Valuation in which change in prices of porcelain wares was requested. Sources further said the Valuation Ruling No: 788/2016 was issued on January 5, 2016. A meeting was held with the stakeholders on January 29, 2018. 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 the known foreign manufacturers of the item in question through which the actual current value could be ascertained. Meanwhile, The Directorate General of Customs Valuation has revised the customs value of vegetable parchment, grease proof paper, glazed tracing paper and
glassine paper through Valuation Ruling No 1251/2017 under Section 25A of the Customs Act, 1969. The customs values of grease proof paper, glazed tracing paper and glassine paper were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1080/2017 dated 1403-2017. However, some importers filed revision petitions under Section 25D of the Customs Act, 1969, before the Directorate
Sources told a petition was submitted by the importers to the customs Valuation in which change in prices of porcelain wares was requested
court summons witnesses in tax evasion case
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ustoms Taxation and AntiSmuggling Court Syed Faiz Rasool Rashdi has directed investigation ofOicer to produce witnesses against a suspect, Amir Shaukat, who was booked in a mega tax evasion and mis-declaration case. On the last date of hearing, the suspect appeared before the court along with his counsel and moved a
petition for bail. The counsel argued that his client was innocent and was falsely implicated in this case, and that his client was ready to face trail, therefore, the court might grant him bail till final judgment of the case. After his arguments, the court had granted him pre-arrest bail against the surety of Rs 100,000 and directed the suspect to appear before the court on the next date of hearing. Court also issued notices to the customs officials and special
prosecutor for customs department and directing them to file their respective para wise comments on next date of hearing. It needs to be mentioned here when first information report (FIR) was produced before the court, suspect namely Amir Shoukat son of Shoukat Hayat showed as absconder now he moved the court and filed bail petition for bail. However, several other suspects are still absconder in this case.
of Customs Valuation, who remanded the case back vide Orderin-Revision No.358, dated 12-062017. Therefore, an exercise was initiated to determine the customs values of aforementioned goods under section 25 A of the Customs Act, 1969. The stakeholders’ meeting was scheduled on 18.01.2018. They were requested to furnish the invoices of imports during last three months showing factual value.
SHc issue notices in fabrics import case Sindh High Court’s customs appellate bench has issued notices for Feb in a petition filed by fancy fabrics company. The petitioner moved the court through Ms Dil Khurram Shaheen advocate seeking implementation of orders of Collector Adjudication Asif Marghoob Siddiqui who also vacated a show-cause notice and ordered Pakistan Customs to release the consignment.
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FIA arrests human smuggler Tuesday February 13, 2018
Lahore
LAHORE: FIA Faisalabad team arrested a human smuggler and recovered 37 Pakistani passports from his possession. According to FIA spokesman, the team conducted a raid on a travel agency located at Shama Chowk Sargodha on Thursday and arrested the accused namely Ismail, besides recovering 37 Pakistani passports and other items. The accused was involved in human smuggling to gulf countries. A case has been registered against the accused. Further investigation is underway.
fTo directs counsels to conclude arguments on plea filed by Abbas corporation LAHORE
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he Federal Tax Ombudsman (FTO) has heard an appeal Oiled by M/s Abbas Corporation (Private) Limited against Corporate Regional Tax OfOice (CRTO) until the next date with directives to relevant counsels to conclude their arguments on next date of hearing. According to the details, FTO Consultant Mian Munawar Ghafoor heard the case in which the counsel for the appellant argued that the Corporate Regional Tax OfOice (CRTO) had failed to release the tax refund of the last two years claimed by the company. He said that the RTO collected excessive tax during the last two years. He approached the commissioner
customs Airport posts 6.5pc growth in cD collection ustoms Air Freight Unit of Allama Iqbal International Airport showed 6.5 percent growth in revenue collection as compared with the collection of previous Fiscal Year 201617. The Customs AFU collected Rs620 million during previous year. Sources told Customs Today, that Federal Board of Revenue (FBR) assigned revenue collection target of Rs 90 million while Air Freight Unit of Allama Iqbal Internatioal Airport collected Rs964.08 million during the month of January 2017-18. Sources told that Customs Air Freight Unit adopted a comprehensive strategy to generate revenue collection. Sources told that due to effective policy adopted by AFU there is marginable increase is being witnessed in revenue collection. AFU authorities are quite optimistic that they will achieve revenue collection target of current Fiscal Year of 2017-18. –CB Report
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concerned many times for issuance of refunds but the CRTO ofOicials did not pay the refunds after the passage of reasonable time. At the end, the company decided to approach the FTO, seeking interference in this case. The counsel appealed the FTO advisor to direct the CRTO to clear the refund claims. The counsel further said that CRTO should refund the excess collection in wake of taxes by the end of Oinancial year but the situation is quite otherwise. Delay in issuance of refunds put burden on the taxpayers, he said, adding that the CRTO Lahore should make audit of the cases and release the extra amount collected by it from the taxpayer. After hearing the arguments from both sides, FTO adjourned the case until next date for further hearing and directed the parties to appear on said date to present arguments in the case.
customs recovers huge quantity of nDp cigarettes from ch Brothers
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irectorate of Customs Intelligence and Investigation (I&I) team raided at the godown of M/s Chaudhary Brothers Cargo Service located at GT Road
customs Tribunal hears six cases, reserved verdict in one appeal
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he Customs Appellate Tribunal heard six cases and adjourned all the cases to different dates and reserved the verdict of few cases. According to the details, division bench-II comprising Omer Arshed Hakeem, Member Judicial and Imran Tariq Member Technical heard six cases, including M/s Jameel Brothers versus Directorate of Intelligence and Investigation Multan, M/s Hussain Trading versus Customs Faisalabad, M/s Adnan Communication four appeals
against Customs Lahore. Furthermore, same bench heard cases of Comco versus Customs Lahore, Hazoor Bukhsh versus Directorate of Intelligence and Investigation Multan and Meer Khan Alam versus Customs Faisalabad. The same bench heard cases Oiled by Roshan Packages versus Customs Lahore, Beijing Print versus Customs Faisalabad, Barakat Ali versus Directorate of Intelligence and Investigation Multan and New Allied Motors versus Customs Lahore. –CB Report
Railway shop and recovered huge quantity of non duty paid cigarettes. Sources told Customs Today, that Deputy Director Customs Intelligence Usman Tariq received secret information that some smugglers are trying to smuggle huge quantity of foreign origin cigarettes outside Lahore. He immediately constituted a Customs team which also included Super-
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govt disburses rs19b in textile sector he government disbursed Rs19 billion among the textile sector against claims for Rs 25 billion through the State Bank of Pakistan under the Prime Minister’s Export Enhancement Package. The Rs 162 billion Export Enhancement Package was aimed at helping the textile sector to gain competitiveness in the international market in order to enhance the country’s exports, a senior official of Ministry of Commerce and textiles industry.“The government wants to revive confidence of the textile sector through the pack-
nip to develop SeZ in federal capital
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ational Industrial Parks (NIP), a development and a management company, is all set to develop the planned Special Economic Zone (SEZ) in Islamabad, ofOicial sources said. “We require around 50 acre land
to develop Special Economic zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors,” Senior ofOicial of Board of Investment (BOI) told media Replying to a question,he said the government was working on a plan for reconstruction and modernization of BOI for introducing the best international practices to provide con-
intendent Saleemullah Khan, Intelligence Officer Zulfiqar Ali Dogar, Agha Sultan Haider, Sohail Murtaza, Hamid Babar, Agha Sultan and Nadeem Ahsan. The above mentioned team raided at a godown of M/s Chaudhary Cargo Service and recovered 100 cartons of foreign origin cigarettes which were being loaded on a truck in a Mazada truck for onward transportation. Customs Intelligence team seized the entire stock of foreign origin cigarettes and registered a case of smuggling against the owner of the godown and started investigations. It is necessary to mention here that Director Customs Intelligence and Investigation Rubab Sikandar has directed all anti smuggling squads to adopt zero tolerance policy towards smuggling. She directed that anyone who found involved in smuggling should be dealt with iron hands and according to law.
ducive environment for investment. According to plan, BOI wanted to hire experts to deal with different sectors including legal, export, investment, Special Economic Zones (SEZs) and marketing and branding experts to enhance the capacity and modernization of the institution, he said. The ofOicial said said that experts for Special Economic Zones (SEZs) would be hired for initiating the projects to at-
age,” he said, adding the package would be expanded to other industrial sectors, including the pharmaceutical sector. “We are committed to providing an enabling business environment to all the industrial sectors,” he added. The government, the official said, had also given procedural and tax relaxations on the import of textile machinery for the modernization of industry and to enhance the capacity of the sector. The official said that through this package, the cost of doing business would come down in the country. –CB Report
tract investment and provide conducive business environment. Replying to another question, he said that Investment Facilities Center (IFCs) would also be established in Karachi, Lahore, Islamabad and Peshawar to provide modern facilities to investors. SEZs investors would get the facility for plant and machinery import without customs duty in all four provinces of the country.
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he Anti-Smuggling Organization (ASO) Peshawar took into possession ice drugs and Non-Duty-Paid vehicles worth Rs273.93million, arrested 16 smugglers and convicted three culprits during first seven months of FY17-18. According to details explained by sources of the Anti-Smuggling Organization (ASO) Peshawar that, during Oirst seven months (July to January) FY17-18, the ASO impounded 131 Non-Duty-Paid (NDP) vehicles valued at Rs233.00million while it did 18 NDP vehicles priced at Rs28.300million during the month of January. The sources told CT that, during Oirst seven months, the ASO Peshawar had apprehended 16 smugglers while the honorable courts convicted three notorious criminals of smuggling and drugs trafOicking. It was told that, during first seven months of FY17-18, the ASO Peshawar seized 779.15 kilogram of hashish worth Rs54.76million while it did seven kilogram of hashish priced at Rs0.7million during the month of January FY17-18. During seven months of FY17-18, the ASO Peshawar conOiscated 16.36 kilogram of
trafOickers within the vast jurisdiction of Peshawar Collectorate in order to discourage the illegal business. Meanwhile, The Collector Customs Saeed Jadoon said the violation of customs laws by customs ofOicials and importers will not be tolerated. Violation of customs laws or regulatory provisions at customs check posts are taken very seriously by customs authorities and their sanctioning is actively pursued by involvement of ofOicials, said Collector Customs at Customs Collectorate Muhammad Saeed Khan Jadoon while talking with customs ofOicers at Customs House Peshawar. The sources informed Customs Today that the Collector Customs preferred a known tendency to proceed with criminal investigations and penalties in the most serious cases which posted loss of millions to national exchequer and further steps will also be taken to facilitate genuine traders. The Collector Customs further ext s pressed that the domestic inr fi ng dustry is obviously keen to t, duri a h t ) r y uar awa n h a draw the attention of local s J e o p t ASo s (July d customs authorities when h e t d n n o u m impo they notice suspected violao seven S A 8, the (nDp) tions by importers or cusd i a p fY17-1 uty D toms ofOicials posted for n o at 131 n duty at any check post of alued v s 8 e 1 l c d it di vehi Customs Department. while
opium valued at Rs2.2million whereas the ASO did 2.3 kilogram opium in the month of January FY17-18 priced at Rs.0.23million. It was disclosed that the ASO Peshawar seized 04 kilogram of Ice drug worth Rs40.93million during Oirst seven months of FY17-18. It was added that, under the command of newly appointed Collector Saeed Khan Jadoon, the ASO Peshawar is working very efOiciently and doing more and more seizures against smugglers. He said Collector Saeed has the motto to crack down against notorious smugglers and
llion d at .00mi s price rs233 e l c i h e nuary nDp v ring Ja u d n lio 00mil rs28.3
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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
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he future of Pak-Iran gas pipeline is in doldrums, but the onus of failure is more on Pakistan than Iran. The people sitting at the helm of affairs in Islamabad are either incapable of protecting the national interest or they are too obsessed to consider anything without the nod of their foreign masters. The project was conceived in 1952, but Pakistan and Iran reached an agreement in 2008 to build the pipeline. Now 10 years later, the progress on the project has virtually stopped. During the previous years, Iran built its portion of the pipeline, but the Pakistani authorities were too confused to go ahead with the plan. The question is how long Iran will wait for the Pakistani response as the project is already behind the schedule. Tehran is now getting restive as Pakistan is apparently reluctant to even talks on the issues causing inordinate delays in the execution of the project. The cost of the project has already increased manifold and the prices on which the agreement was signed are also subject to change with the current market rate. Millions of millions dollars have been spent on the blue print of the project and under various heads, but authorities have no clear-cut policy or stand on the subject. The gas pipeline is crucial for the future of the industry in Pakistan. Earlier, India was also part of the project but it withdrew from it at the eleventh hour. The energy demands of the country are growing due to expansion of its industry and proposed industrial zones along the China Pakistan Economic Corridor. Initially, 2014 was the year to complete the project but the deadline was extended up to early 2017 as Islamabad wanted to revise the gas sale and purchase agreement. However, the work on the project went on in piecemeal fashion due to international sanctions on Iran and Pakistan’s inability to ensure availability of funds to construct its side of the pipeline. Though sanctions were lifted long ago, the project has been left in limbo. An Iranian official has warned that his country has the option to initiate legal proceeding against Islamabad for failing to fulfill its obligations. It is now Islamabad’s turn to come clear on the project. The United States is vehemently opposing the project for its own reasons, but China can be involved in the plan to fend off the pressure.
potentials of shoes industry S
LAHORE
Dr AfTAB AfZAL
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hoe making is not mere an industry, but economy. However, the country could not utilize full potentials of this industry which can be the engine of growth for the overall economy. As a country of meat-eating nation, Pakistan produces high-quality leather in the world and its shoes industry has been picking up for the last many years. The population is growing and demand for shoes is also growing. The performance of only one industry can push the country into the list of the Oirst world economies. But the shoes manufacturers could not pace up with
modern trends and requirements as most of them are still using the age-old methods and primitive machinery. The country is the rising shoe market and is importing shoes from the United States, China and Italy. Illegal trade and smuggling of Vietnamese shoes are also growing which means the country has vast space and demand for new brands. Currently, all kinds of western and eastern brands are available at cheapest prices in the country and this is the business as usual. There is a need to inspire local shoes manufactures and entrepreneurs associated with the business. Many well-known manufactures and entrepreneurs have shut down their units in Pakistan and have
turned toward China to keep their business in running mode. A high tech state of the art leather institute under the supervision of the government is the need of the hour. A shoemaking institute in the government or the private sector will also be a source of inspiration for the shoes manufacturers. It is the time the manufacturers should focus on diversiOication of their products by enhancing their expertise in line with international trends. To engage the manufacturers of international brands in joint venture will also be a good idea to get expertise and technology. The share of Pakistani shoes brands in the international market is negligible. Unfortunately, the Pak-
istani leather manufacturers could not come out of the spell of their regional competitors. Unless they local manufacturers Oind space in the international market, they won’t be able to utilize their full potentials in the business. Turkey is comparatively a new entrant in the international market, but Turkish manufacturers diversiOied their products to enhance their sale. Pakistan is the livestock-rich country, but its leather exports fell to $0.92 billion in 2016-17 from $1.28 billion in 2013-14. But there is no use of exporting raw material as it will support the industry of other countries. Pakistan has the potential to become hub of shoes industry in the world.
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FTO hears appeal filed by M/s Abbas Corporation LAHORE: The Federal Tax Ombudsman (FTO) has heard an appeal filed by M/s Abbas Corporation (Private) Limited against Corporate Regional Tax Office (CRTO) until the next date. According to the details, FTO Consultant Mian Munawar Ghafoor heard the case in which the counsel for the appellant argued that the Corporate Regional Tax Office (CRTO) had failed to release the tax refund of the last two years claimed by the company. He said that the RTO collected excessive tax during the last two years. He approached the commissioner concerned many times for issuance of refunds but the CRTO officials did not pay the refunds after the passage of reasonable time.
fiA confirms 28 pakistanis in Libya boat tragedy
Tuesday February 13, 2018
National
customs Tribunal summons parties on reference involving klaguardia Logistics
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he Federal Investigation Agency (FIA) confirmed that 28 Pakistani nationals have been confined in Libya after the tragic boat capsize incident, said a report released by the law-enforcing agency. The boat carrying the migrants capsized off the coast of Zuwara in the early hours of February 2, the International Organization for Migration had confirmed. “It has been learnt that 28 more Pakistanis are confined in Libya in a safe house in Zawiya district,” said the FIA report. The agency further stated that some of the Pakistani nationals are in contact with their families. The report by FIA also requests the concerned quarters to rescue the Pakistanis and save them from further unfortunate events. An embassy official earlier said victims are mostly from Gujrat in northern Pakistan. The bodies of 12 Pakistanis
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ustoms Appellate Tribunal directed parties to ensure presence before the bench on next date of hearing with directives to prepare for Oinal arguments while hearing customs references involving by M/s Klaguardia Logistics and M/s Trade Master and Model Collectroate of Customs, Islamabad. Customs Appellate Tribunal’s bench comprising Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the matters submitted by M/s Klaguardia Logistics and M/s Trade Master against Model Collectroate of Customs, Islamabad. Customs Appellate Tribunal would hear recently Oiled customs reference Oiled by M/s Kohinoor Trader on Tuesday. Counsels from M/s Five Star Trading had appeared before the bench and demanded time from the bench for Oinalizing preparations for the case. Customs Appellate Tribunal’s Member Technical, Ziauddin Wazir had heard the cases of Raja Nabeel, Waqas Enterprises, Arshad
Khan and Musawir Shah had Oiled the cases last week. Raja Nabeel had Oiled the cases Directorate of Intelligence and Investigation, Islam-
abad. Other three appellants had Oiled their cases against Model Collectorate of Customs, Islamabad. The appellants had filed cases
against Directorate General of Investigation and Intelligence, Islamabad and Collectorate of Customs, Islamabad.
iHc seeks record of case involving Dg i&i & ATir who died in the incident have been recovered and brought to a morgue in the capital, Tripoli, awaiting repatriation. Libya is the main gateway for migrants trying to cross to Europe by sea, though numbers have dropped sharply since July as Libyan factions and authorities – under pressure from Italy and the European Union – have begun to block departures. Zuwara was a top departure point until a local backlash against smuggling in 2015. So far this year, just over 3,500 migrants are recorded to have crossed from Libya to Italy, about 60 percent fewer than during the same period last year, according the Italian Interior Ministry.
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he Islamabad High Court (IHC) has directed parties to submit record in cases involving Directorate General of Intelligence and Investigation, and Appellate Tribunal Inland Revenue and dated in ofOice the hearing. A division bench of the IHC comprising Justice Athar Minallah and Justice Miangul Hassan heard the matter and issued directives. The bench had earlier relisted the cases including the one Oiled by M/s Awan CNG Re-Filling Corporation (Private) Limited. The company had Oiled the cases against Model Collectorate of Customs. The bench had also dated in ofOice the hearing of matters Oiled by Directorate General Intelligence and
Investigation against Malik Muhammad Ajmal Khan. M/s Comfort Sales Corporation had Oiled case against ATIR and customs department. M/s Comfort Sales Corporation had Oiled case against ATIR and customs department. M/s Comfort Sales Corporation had challenged the act of recovery of said amount by commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad. ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty. M/s Comfort Sales Corporation had prayed the court that FBR ofOice had issued a recovery notice to the company which did not hold lawful grounds. The appellant had prayed the court to declare the act
as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings. M/s Comfort Sales Corporation had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not address grievances of the appellant. Meanwhile, Islamabad High Court on Tuesday dated in ofOice hearing on a customs matter involving M/s Galaxy Diplomatic Bonded and Customs Appellate Tribunal, Islamabad. Justice Athar Minallah and Justice Miangul Hassan Aurangzeb of heard the matter and adjourned for hearing. M/s Galaxy Diplomatic Bonded had challenged an announcement made by the Customs Appellate Tribunal, Islamabad. Another bench had earlier had disposed of a customs matter involving
M/s Hasas Engineering and Construction Company Private Limited. The appellant had challenged the act of recovery of said amount by commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad. The bench had earlier reserved decision after hearing arguments in the case with submission of record. ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty (FED). M/s Hasas Engineering and Construction Company Private Limited had prayed the court that FBR ofOice had issued a recovery notice to the company which did not hold lawful grounds. The appellant had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings.
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ASF foils heroin smuggling bid at Islamabad airport Tuesday February 13, 2018
National fBr again seeks details of customs, ir officers with dual nationality
RAWALPINDI: The Airport Security Force (ASF) foiled an attempt to smuggle heroin to London from Benazir Bhutto International Airport. According to the airport security force, about one and a half kilogram of heroin was recovered from luggage of the suspect, identified as British citizen Khalid Zaman. The suspect, who was travelling to London via Pakistan International Airlines (PIA) flight 785, has been arrested and handed over to the Anti-Narcotics Force (ANF) for further investigation, said ASF.
fBr transfers two inland revenue officers of BS-17
ISLAMABAD
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ISLAMABAD
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he Federal Board of Revenue (FBR) has once again sought details from all the department heads to submit the details of the officers of BS-17 and above who have dual nationality to submit to the Establishment Division. Previously, the administration department of the FBR issued a letter on the same subject and asked the departments concerned to submit details of officers with dual nationality and the last date was February 1 but there was not much information received within that date. Therefore, it issued similar instruction and asked the departments to submit such details. The FBR is doing this exercise following the directives of Supreme Court Chief Justice Mian Saqib Nisar, who had taken notice of dual citizenship of civil servants and judges of superior and district courts.
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four customs officers reshuffled he Model Customs Collector Islamabad has ordered the reshuffling of four Customs Officers including one Deputy Collector and three Assistant Collectors. According to details given by official sources of the Model Customs Collectorate (MCC) Islamabad that newly appointed Collector Zulfiqar Chaudhry has ordered the reshuffling of four officers of grade-17 and 18 to different locations under the jurisdiction of MCC Islamabad. The sources said Dputy Collctor Wajid Zaman, who was performing his services at the AFU (Admin, Imports-Appraisement, Examination, Licensing and MCD, has been ordered to report to the Islamabad Dry Port while Assistant Collector Sadia Usman. –CB Report
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ederal Board of Revenue has transferred/posted two Inland Revenue Service ofOicers of BS17 with immediate effect and until further orders. Syed Muhammad Sharique Tanweer has been transferred from Deputy Commissioner (on acting charge basis), Regional Tax OfOice, Islamabad and posted as Second Secretary, (MIR-III) Federal Board of Revenue (HQ), Islamabad. Shiraz Ali has been transferred from Second Secretary, (MIR-III) Federal Board of Revenue (HQ), Islamabad and posted as Second Secretary, (SSM) Federal Board of Revenue (HQ), Islamabad. According to the notiOication, the
ofOicers who are drawing performance allowance, they will continue to draw this allowance on the new place of posting. They have been asked to relinquish/assume charge,
using online HRMS facility made available to FBR or by using their IJP logins. Meanwhile, Fayyaz Anwar, a Pakistan Customs Service ofOicer of BS-20, has assumed charge
as Director, Directorate of Intelligence & Investigation-FBR, Karachi. The ofOicer, in pursuance of Board’s NotiOication No.0121-C-I/2018, dated 22.01.2018, relinquished the charge of the post of Director, Directorate of IPR Enforcement (Central), Lahore with effect from January 29, 2018 and took charge of the post of Director, Karachi I&I on February. He had assumed charge of the post of Director, Directorate of IPR Enforcement (Central), Lahore on November 1, 2017 after relinquishing charge of the post of Director, Directorate General of IPR Enforcement (North), Islamabad on October 31, 2017. He had relinquished the charge of the post of Director, Directorate of Transit Trade, Peshawar on August 15, 2017 and assumed charge of the post of Director, Directorate General of IPR (Enforcement), Islamabad on August 16.
faisalabad Adjudication recovers rs402.741 million till January 2018 T
FAISALABAD
MuBeen HuSSAin
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he Customs Adjudication Faisalabad recovered Rs 402.741 Millions after concluding different seizure cases until January 31, 2018. Sources told Customs Today, that the Customs Adjudication decided almost 156 cases during the above said period of 2018. The adjudication issued Order in Original (ONO) in all cases in favor of the Customs Anti Smuggling Organization and Customs Intelligence and Investigation. The department heard cases of smuggled oil, cloth, tea auto parts, Iranian diesel, Rani juice, Toyota Corolla and other item during the said period. Collector Adjudication Asif Abbas Khan decided 20 cases which involves Rs292.243 million. While Additional Collector Muhammad Saeed Asad settled 39 cases in-
volving Rs64.027 million. Deputy Collector Saima Ayyaz decided 97
cases which involves Rs 46.471 million and announced decision in fa-
vor of Customs Intelligence and Investigation till January 2018.
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Customs Islamabad impounds items valued at Rs150m during seven months ISLAMABAD: The Anti-Smuggling Organization Islamabad seized worth Rs150million of smuggling goods during first seven months of FY2017-18 against the corresponding period of FY2016-17. According to details explained by Majid Hussain Gadd, Assistant Collector, Anti-Smuggling Organization (ASO) Islamabad, that, during first seven months of FY17-18, the ASO Islamabad impounded smuggling goods valued at Rs266.18million whereas it confiscated goods worth Rs115.81million during the previous period of FY2016-17. Assistant Collector told CT that, during first seven months (July to January) of FY17-18, the ASO Islamabad registered 52 seizures of smuggling against the corresponding period.
customs seizes packets of plastic powder being smuggled into Afghanistan KARACHI
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he Directorate of Customs Intelligence and Investigation Quetta confiscated many packets of plastic powder (Dana) worth Rs8.60million.Sources told reporter that Director Customs Intelligence and Investigation Quetta Irfan Javed received a tip-off that some smugglers are trying to smuggle white plastic Dana from Quetta into different cities. He immediately constituted a raiding team. Team In-Charge, Preventive, Shafiq-ur-Rehman and others enhanced the surveillance on the Quetta Road and started searching vehicles. During the search operation, the team intercepted a truck bearing registration No: QJS-4726 which was
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going from Quetta to Afghanistan. During the checking, the customs team recovered 200 packets of white plastic Dana and different plastic small balls worth Rs8.60million. The customs team seized all the packets and arrested two smugglers including a driver who were later identified Tajjuddin Shaikh and Mohsin Khan. The Directorate of Customs Intelligence and Investigation Quetta registered an FIR against the smugglers and started investigations. The team seized the truck used in smuggling. Earlier, the Directorate of Customs Intelligence and investigation confiscated a large quantity of tyres valued at Rs5million and apprehended two smugglers. Sources said operation against luxury vehicles will start again in the month of February.
National
BBiA customs Squad gets more efficient after appointment of two lady inspectors T
ISLAMABAD
TAriQ DerYA
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he Customs Squad of the BBIA Islamabad becomes more efOicient after getting two young lady inspectors along with the eight male inspectors to Oill the gap of understafOing. The new inspectors are more hardworking and active than the old inspectors, correspondent of Customs Today learnt. It was told by Ali Asad, Assistant Collector, Benazir Bhuto (BBIA) International Airport Islamabad, while giving an exclusive interview to Customs Today. He said it was a long needed requirement of the BBIA to get young and energetic inspectors for its most important places like departure hall, apron, rummaging area, arrivals lodge as well as at body search sites. The BBIA has been suffering an understafOing to run its four shifts 24/7 since long so inclusion of new inspectors in the strength of customs airport staff is a plus point for BBIA, Ali Asad quoted. The Assistant Collector told CT that, after the seizure of diamonds at the Karachi Airport, the BBIA customs staff has began body search, especially of Dubai Olights. Without
body search, diamonds and drugs cases cannot be intercepted because notorious elements carry such contraband items by fastening them with their body. He informed CT that Juddah, Riadh, UAE and Saudi bound flights are especially checked before boarding. One Inspector along with a dog and a dog handler per-
Tuesday February 13, 2018
form rummaging of the airplan. Due to recent known history of the heroin cases at different airports, the vigilant customs staff of the BBIA also made rummaging of Burlingame and Manchester flights to prevent any drug smuggling. He added that the customs staff is more cautious against drug smuggling than other LEA.
fBr grants zero-rating sales tax to seven textile units
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ISLAMABAD
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ederal Board of Revenue (FBR) has allowed zerorating sales tax facility to seven textile units on consumption of electricity for manufacturing of export goods. The FBR has allowed the sales tax zero rating under SRO 1125(I)/2011, which has been issued with aim to reduce the cost of doing business and making Pakistan goods competitive in the international market. The following textile units (and place of registration) have been allowed zero-rated on purchase of electricity: Younas Nawaz Textile, Regional Tax Office (RTO) Faisalabad; Ayesha Spinning Industries, RTO Gujranwala; Lyallpur Textile, RTO Faisalabad; M. H. Lace Works, Large Taxpayers Unit (LTU) Karachi; Crescent Cotton Mills Limited, LTU Lahore; Pelle Classics, RTO-III, Karachi and Al-Barkat Tex Weaving, RTO Faisalabad. The FBR issued seven different Sales Tax General Orders (STGOs) for allowing sales tax zero rating on consumption of electricity by these textile units.
‘Australia working with private sector for economic growth’
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ISLAMABAD
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he Australian High Commissioner Margaret Adamson said that Australia was working with Pakistan’s progressive private sector to drive economic growth and assist Pakistan’s efforts to alleviate poverty. She further said that by connecting smallholders with commercial markets, the milk collection centers would attract better quality milk and provide a better rate for farmers for their product. According to Australian High Commission, while commenting on recently collaboration between her gov-
ernment and Fauji Foods, she said that extending the commercial network for milk procurement would help to address Pakistan’s annual milk supply-
demand gap of 3.5 billion liters. The milk collection centers will also deliver critical information to farmers on best practice in milking, vaccination and an-
imal husbandry. She welcomed the joint investment by Australia and Fauji Foods which would expand Pakistan’s formal milk procurement network and increase incomes for smallholders. Australian development cooperation partnership with Pakistan is focused on reducing poverty through economic growth and human development. Investment in the private sector, nutrition and gender equality are key priorities, and are linked to this catalytic new initiative. The Australian government-funded Market Development Facility (MDF) and Fauji Foods Limited signed a partnership today to establish 20 milk collection centers in rural Layyah and Muzaffargarh.
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World Customs
Wood pellet co firing to resume in the Netherlands
AMSTERDAM: Netherlands by the end of this month. Argus reports that RWE plans to co-fire 50pc biomass at Amer 9, which will consume around 900,000 t/yr, and that further work will be carried out to increase co-firing to 80pc in the coming years. This is very good news for Canadian wood pellet exporters, who will be among the first to ship to this plant. Like many other affected stakeholders, the Wood Pellet Association of Canada (WPAC) has been participating in the Dutch biomass co-firing debate since 2014.
Tuesday February 13, 2018
Sharjah police arrest Asian smuggling gold
Medicine imports rise as supply side reform succeeds BEIJING
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SHARJAH
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harjah Police have arrested an Asian who attempted to smuggle gold pieces worth Dhs100,000 through Sharjah International Airport. The police suspected the existence of a big can of food supplement formula, which the traveller had concealed in-between his clothes. The police decided to open the can to see what was inside it. The ofOicers were shocked to Oind pieces of gold jewellery worth Dhs100,000 hidden inside the supplement powder. During the interrogation, the suspect told the police that he bought the gold items and presented cash receipts. He said that he hid the jewellery because he was planning to escape tax in his home country. The man has been transferred to CID de-
putting nation on track to economic independence iri Lanka celebrated the 70th Independence Day ceremoniously, giving some opportunities for the rulers as well as citizens to look back and rectify certain issues pertaining to development. Sri Lanka, like its other Asian counterparts, was conquered by invaders, mainly due to geographical importance, which even today we have not been able to properly harness. Political independence, which the nation could gain, then means the Sri Lankan government can make its own decisions on domestic and foreign policies. which made economic patterns upside down and internally disturbed political independence in the country, fresh expectations emerged with respect to development. Nevertheless, it has to be frankly penned that the country has not achieved significant economic progress. –CB Report
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partment for further interrogation. The CID said that the initial investigation revealed that the traveller had used swindling method to get away with gold items to this country. He was planning to sell the gold for more profit without paying tax. Lt.Col Matter Al-Ketbi, Director of Sharjah Airport Police station said, “Police at the airport
will not tolerate any illegal activities, especially those who try to get away without paying tax in their home country. He urged the expatriates to refrain from practising such kind of illegal activities, which violate the laws in order to avoid paying the taxes imposed on them by the government of their countries.
russian, chinese smugglers arrested with tonne of bear paws: ngo
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he smugglers were arrested at the weekend by Russian customs officers in the far east of the country with 870 of the bear paws “and the remains of at least four Siberian tigers” in their three vehicles, said the Russian tiger protection NGO. The Russian and Chinese nationals were also caught with bear teeth, deer tails and penises and other animal parts as well as arms and ammu-
nition and an amount of amber, the Amur Tiger Center said. According to the tiger protection group, the smugglers were headed for China when they were apprehended, and were preparing to cross the frozen Lake Khanka on the border. China is a big market for animals parts from endangered or protected species including tigers, bears, elephants, rhino and pangolins. –CB Report
hinese medicine and health products makers are keeping a foothold in developed countries as they foresee sustainable growth momentum in mature markets. Last year, the total value of medicines and health products exported from China reached $60.7 billion, up 9.44 percent year-onyear, according to a report released this week by the China Chamber of Commerce for Import and Export of Medicines and Health Products (CCCMHPIE). The growth rate was the highest in the past Oive years, reversing the declining trend in 2016. Of the total, exports of Western medicines reached $35.46 billion, jumping 12.62 percent year-on-year. “Supply-side reform is showing results, as underdeveloped enterprises are gradually withdrawing
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from the market and superior companies are standing out, thanks to their high-quality products,” said Meng Dongping, deputy director of CCCMHPIE. In 2017, China exported traditional Chinese medicines valued at $3.64 billion, up 2.07 percent over the previous year. The export of plant extracts reached $2.01 billion, increasing 4.33 percent year-onyear, and the export of Chinese patent medicines reached $250 million, climbing 11.03 percent. The export of Chinese medical services is also steadily increasing. Currently, there are about 2,000 traditional Chinese medicine clinicians working abroad every year, accounting for 60 percent of the country’s total expatriate doctors. “More than 60 agencies have launched hospitals, healthcare clinics specializing in traditional Chinese medicine, and Chinese medicine research centers in over 20 countries and regions, driven by an increasingly strengthening demand for a healthy and high-quality life,” Meng said.
S Africa plans to add more natural gas outh Africa is planning to diversify its energy portfolio, replacing coal with lower CO2-emitting fuels such as natural gas and renewable energy sources. The country’s Intended National Determined Contribution, submitted as part of the Paris Agreement, plans for CO2 emissions to peak by 2025, remain Olat for a decade, and begin to decline around 2035. South Africa relies primarily on coal for electricity generation, and coal accounted for about 70% of the country’s primary energy consumption in 2016. However, aging coal-Oired power plants and insufOicient investment in power infrastructure have led to recurring
power outages. Scheduled power cuts for certain customers during peak electricity demand periods occurred frequently between 2013 and 2015, which, according to the International Monetary Fund, negatively affected the country’s industrial and economic growth. In response, South Africa’s government is expanding its electric generating capacity to include more efOicient coal-Oired capacity and encouraging more private sector investment. Over the next Oive years, South Africa plans to replace some of its outdated coal-Oired capacity with nearly 10 gigawatts (GW) of supercritical coal units. –CB Report
good Seed raised exports to 5,000 tonnes in 2018
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AMSTERDAM
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ood Seed for Investment and Agricultural Development aims to export 5,000 tonnes of agricultural products in the current export season. Said Saleh Mubarak, a member of the company’s board of directors, said that
Good Seed will raise exports from 2,000 tonnes last season to 5,000 this season, up by 150%. He added that last year was the Oirst actual export season for the company, as it previously attempted to start its export activity in 2016, but at small quantities. He explained that oranges of all kinds are the main crop the company exports, next to artichokes, lettuce, and tomatoes, in ac-
cordance with the needs of the European market. We prefer to export to Europe, especially Italy, England, Malta, and the Netherlands, while our exports to Arab countries are small,” he said. He pointed out that the large supply of agricultural crops in the Gulf countries, especially Saudi Arabia and the UAE, reduces their prices, which damages small exporters’ business. He esti-
mated the proportion of his company’s exports to the region at 1015% of all exports. He justiOied not exporting to China, which is among the top importers of Egyptian oranges, by highlighting the requirements set by it, which demand the highest quality grade of oranges. He demanded China work with the same requirements and speciOications of European countries.
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China’s imports surge 37% in January exports jump 11% BEIJING: A Reuters economist poll predicted that January imports had grown 9.8 percent from a year ago. They also expected export growth to come in at 9.6 percent. Long Lunar New Year public holidays start next week in China, so the trade data may be skewed due to seasonal factors such as stockpiling. Nonetheless, even with the festive season, the strong January reading indicates healthy domestic demand going into 2018, said Louis Kuijs, head of Asia economics at Oxford Economics. In December, dollar-denominated exports rose 10.9 percent from a year ago, while imports rose 4.5 percent. China’s trade surplus for January was $20.34 billion. Economists polled by Reuters had forecast a surplus of $54.1 billion.
uAe’s non-oil trade reaches Dh1.17tr he value of the UAE’s non-oil foreign trade in the first nine months of 2017 reached Dh1.17 trillion, staying almost flat from the Dh1.16 trillion registered in the same period in 2016. According to data from the UAE’s Federal Customs Authority (FCA), imports to the UAE amounted to Dh708.2 billion in the first nine months of the year, with gold accounting for the most imports. Native gold and semi-processed gold were 14 per cent of total non-oil imports, and amounted to Dh98 billion. Mobile phones came in second place on the list of imports, with a value of Dh66 billion (9 per cent). They were followed by cars, with a value of Dh37.5 billion (5.3 per cent). Meanwhile, non-oil exports from the UAE reached Dh139.1 billion in the first nine months of 2017, with gold also
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Ports & Shipping
pSA opens its big box terminal at Jawaharlal nehru port Trust SINGAPORE
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ingapore’s PSA International Pte Ltd opened a swanky new container terminal at Jawaharlal Nehru Port Trust (JNPT) near here on Friday morning. Capt Cristian Ungureanu, a Romanian national, steered container ship Centaurus to berth. Hundreds of cargo containers were on board the Marshall IslandsOlagged vessel owned by Greek Oirm Unitized Ocean Transport Ltd and chartered by French line CMA CGM S A to operate on its Swahili Express (SWAX). The service (India Middle East Africa trade lane) is run by a consortium of CMA CGM and Emirates Shipping Line, connecting JNPT with Jebal Ali, Khor al Fakkan, Mombasa, Dar es Salaam and Djibouti. The Oirst container was unloaded by one of the six 65-tonne super post panamax quay cranes made by South Korea’s Doosan Heavy Industries & Construction Co
Ltd and erected at the 1-km-long quay or berth around 10.45 am following a puja. “There was no problem, the entire exercise went off smoothly,” Ungureanu, whose wife was also on the ship, later told BusinessLine. In 2014, PSA had emerged the highest bidder for the 30-year contract by quoting the highest revenue share price bid of 35.79 per cent. The project involves the construction of two berths in two
phases of 1 km each. The first phase is designed to handle 2.4 million TEUs at a cost of 4,719 crore, and the second phase another 2.4 million TEUs involving an investment of 3,196 crore by 2022. Once phase two is operational as well, the new terminal will help JNPT India’s biggest container port double its capacity to about 10 million TEUs. It currently has four facilities capable of handling a combined 4.8 million TEUs.
Tuesday February 13, 2018
chinese automaker fAw sees booming exports
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hinese auto maker First Automobile Works Group (FAW) exported 40,000 vehicles in 2017, representing robust growth of 92.7 percent from the previous year. The company reported 3.408 million wholesale vehicle deliveries last year, up by 7.2 percent annually. The group recorded total market sales of 3.346 million units last year, growth of 7.7 percent from the previous year. Last year, the group subsidiary FAW Jiefang and FAW Benteng both reported wholesale vehicle deliveries of 336,000 units respectively. The groups’s joint ventures reported 2.691 million vehicle deliveries. Thanks to the Belt and Road Initiative, the group has expanded overseas business to 48 countries, with the total export volume of wholesale cars and auto parts exceeding 5 billion yuan (793 million U.S. dollars). –CB Report
europe shuns russian oil as boost of chinese flows hits being the top exported product. Gold exports amounted to Dh41.2 billion, representing 30 per cent of the country’s total non-oil exports. Re-exports amounted for Dn325 billion in the first nine months of last year, with mobile phones being the most re-exported commodity. In terms of trading partners, Asia, Australia, and the Pacific region remained the UAE’s top non-oil trade partner, with a share of 42 per cent of the country’s total trade (and a value of Dh470.4 billion). In terms of trading partners, Asia, Australia, and the Pacific region remained the UAE’s top non-oil trade partner, with a share of 42 per cent of the country’s total trade (and a value of Dh470.4 billion). –CB Report
MOSCOW
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uropean refiners are threatening to cut Russian oil purchases due to worsening quality after Moscow has re-routed large volumes of crude to China as part of its fight with OPEC and the United States for market share in fast growing Asian markets. The quality of Russia’s flagship Urals oil grade has deteriorated so much that multiple buyers are reviewing how much they buy and the price they are willing to pay for it, according to traders and sources close to European refiners. Russia has forged closer ties with energy-hungry China at a time of chilling relations with the West over Moscow’s role in
Ukrainian crisis and allegations of its interference in foreign elections, accusations denied by the Kremlin. Miroslaw Kochalski, vice-president of PKN Orlen, Poland’s biggest refiner, told Reuters in an interview that the changing quality of the Urals his company buys could influence future deals. “It opens room for negotiations with partners, also regarding price conditions,” Kochalski said. According to the industry sources who spoke to Reuters, that position is shared by others in the industry who buy Urals crude. The Russian energy ministry and oil pipeline monopoly Transneft both acknowledge the problem of weak Urals quality. The Urals oil that reaches customers in Europe is a blend of different sources of oil, with the mixing
taking place inside Russia’s pipeline system. The quality depends on the relative proportions of higherquality and lower-quality darker oils in the mix. Data on Urals chemical composition, obtained by Reuters from industry sources, showed the oil exported to Europe this month is near the bottom end of the quality range allowed under a standard set by Russia’s state standards agency Rosstandart. The trading sources said they track the quality via documents that accompany cargos of crude pumped from Russia. The worsening of Urals quality has dampened its price and prompted buyers to think about the possibility of reducing the volumes they buy, according to the traders and sources close to European refineries. We can’t
refine this (oil),” a trader at a European company said. “There is only one way out, which is to cut Urals purchases and get supplies of lighter grades for blending. At least five traders said they believed Urals was being affected because betterquality types of oil that would previously have been mixed into Urals were being diverted instead eastwards and incorporated into the ESPO blend exported to China and other Asian markets. For now, Russia produces most of its light sweet barrels to supply China, while Western buyers have to receive what is left over,” an industry source told Reuters. Russia’s energy ministry acknowledged that the quality of Urals had been declining for the past several years, but said that was due to the depletion of old oilfields.
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Foreign Currency Account Scheme KARACHI: The Foreign Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Base Rate. FOREIGN CURRENCY ACCOUNTS SCHEME — RATES BAY BID MAXIMUM RATES FOR PAYMENT OF INTEREST BY ETHERIZED DEALERS R A T E S U.S. DOLLARS VALUE 09-02-18 For 3 months and over but less than 6 months 1.5499% PA 2.2999% PA For 6 months and over but less than 12 Months 1.7544% PA 2.5044% PA For 12 months 2.0359% PA 2.9109% PA For 2 Years 2.0359% PA 3.4109% PA For 3 Years.
Tuesday February 13, 2018
Business
railways adds modern wagons for coal loading ISLAMABAD
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akistan Railways has added 1405 modern wagons for coal loading and unloading (hopper wagons) for Qadirabad Coal Power Plant at Sahiwal during the last 4-5 years. “Pakistan Railways is in process of upgradation of cargo trains and system of transportation of coal for Qadirabad Power plant has been upgraded by purchasing high power locomotives and high capacity/high speed wagons,” an ofOicial in the Ministry of Railways. He said the proposed improvement on the anvil is procurement of
pak forex figure $19.18209 billion KARACHI
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820 high capacity/high speed wagons to replace old and overage Oleet of cargo wagons at a cost of Rs. 9516 million in next 1-2 years. “118 locomotives have been added in current
ogDcL confident to meet drilling target of 28 wells in current year
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otal liquid foreign reserves of the country stand at dollars 19.18209 billion. According to a weekly statement issued by State Bank of Pakistan, the foreign reserves held by State Bank on February 02, amounted dollars 13.061 billion and the net foreign reserves held by the commercial banks were dollars 6.12203 billion. During the week ending February 02, SBP’s reserves decreased by dollars 173 million to dollars 13.061 billion due to external debt servicing and other official payments.
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Oleet of locomotives to replace old and obsolete engines,” he added. The ofOicial said that as compared to the year 2013-14 during 201617, the freight trains from Karachi
Port were increased from 182 trains per year to 3318 trains per year. He said that under a strategy different companies have been enlisted for freight loading in block rakes to increase freight earning. Long haul long term agreements have been signed with major companies with advance payment in freight deposit accounts. “Maple Leaf Cement, Bestway Cement, Gharibwal Cement, Awan Trading Company and Chishtian Logistics are some of the major companies which deposit advance payments with Pakistan Railways for their transportation needs,” he said. In comparison to year 201213 when a total number of 46617 railway wagons were loaded, in 2016-17, 264256 wagons were loaded which is more than Oive times increase, he said.
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ISLAMABAD
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he Oil and Gas Development Company (OGDCL) is conOident to meet the drilling target set for the year 2017-18 with an ambition to make the country self-sufOicient in hydrocarbon reserves. During Oirst quarter of the current year, the injected Oive new wells producing 4,133 barrels crude oil and 891 mmcf gas in its production gathering system. “This year, the company has set a
target to drill around 28 wells, out of which 17 are exploratory and 10 are developmental including a Shale gas and oil. The company is conOident to meet the target. The company, they said, being cognizant of the country’s increasing energy demand, in the Oirst quarter of year 2017-18 has added production of Oive newly operated wells namely Pakhro-I, Dachrapur-3, Chanda-4 and Qadirpur-58 and HRL12 in the system. They said the OGDCL’s crude oil production had reached 42,529 barrels per day (bpd) in Oirst quarter as compared to the same period of the corresponding year
2016-17, showing 6 percent growth. Similarly, production of LiqueOied Petroleum Gas (LPG) witnessed 73 percent surge during the period under review. The production has increased from 342 tons per day (tpd) to 590 tpd, the sources added. The company drilled two new development wells namely Mela-6 and Qadirpur HRL-14, while it made two oil and gas discoveries in districts Sukkur and Hyderabad of the Sindh province. Replying to a question, they said the company in an effort to explore new oil and gas reserves continued with its seismic data activities and acquired 181 sq.
Merchandise export up 11.11 pc in 7 months GILGIT
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he country’s export surged by 11.11 per cent during first seven months of fiscal year 2017-18 as compared to exports during same period of the preceding year. The exports rose to $12.966 billion during July-January 2017-18 against the exports worth of $11.67 billion during same period of the year 2016-17, according to trade data released by Pakistan Bureau of Statistics. The imports into the country also witnessed an increase of 18.92 per cent as it jumped to $34.512 billion in JulyJanuary 2017-18 from $29.18 billion in the same period of previous year. The trade deficit during the period under review however, expanded by 24.18 per cent to $21.54 billion as compared to the trade deficit of $17.35 billion in first seven months of fiscal year 201617. Surge in imports was mainly due to import of heavy machinery and other raw material for CPEC related industrial and energy sector projects in Pakistan which will have long term positive impact on national economy as due to construction of industries with the Chinese support, more export oriented value added products would be manufactured in the country.
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ADB delegation calls on punjab chief minister LAHORE
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Oive-member delegation of Asian Development Bank (ADB), headed by country director for Pakistan Ms Xiaohong Yang, called on Chief Minister Punjab Muhammad Shehbaz Sharif. On the occasion, progress on different projects started in collaboration with the ADB was reviewed. The
meeting agreed to further extend mutual cooperation in different sectors including public-private partnership based projects. Speaking on the occasion, the chief minister said a number of development projects were being completed in collaboration with the ADB in different sectors including irrigation and energy. He said that ADB was providing $500 million funding for irrigation and energy projects. “The ADB should provide development
funds worth $1.5 billion every year for health, education and other sectors. Financial support of ADB for development schemes aiming at public welfare during the next Oive years in Punjab will be appreciated by the government,” he added. He said that Greater Thal Canal and Greater Cholistan Canal projects would also be completed with the ADB funding and added that water reserves would be developed in the outback of Cholistan to save canal and Olood water. The vast
areas of Cholistan would be made green and cultivable through Water Resource Management Project. The Cholistan would be developed as a green basket not only for Punjab but for the whole of the country as well and contacts with Gulf States would be further improved by providing different facilities in Cholistan including airport. He said that ADB’s support for water treatment plant in Faisalabad was praiseworthy. Meanwhile, he said that the best doc-
tors from around the world would be invited to work in Multan Institute of Kidney Diseases (MIKD). He said that helicopter service was also being introduced for transportation of specialist doctors in remote areas. Country Director Ms Xiaohong Yang said the reputation of Punjab Speed had spread the world-over and due to the completion of Punjab Safe City project, Lahore had become a fully secured city for investment and tourism.
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Global stock sell off slows in Europe LONDON: Global equity markets appeared set to end a tumultuous week on a volatile note with European markets bouncing off new lows in early trading after sharp losses in Asia highlighted investor fears that a decade-long bull market was nearing an end. The sell off in Asia capped one of the worst weeks in Hong Kong and Tokyo in recent history, with the Hang Seng closing with a 9.5 per cent drop for the week, its worst weekly performance in almost a decade. Japan’s Topix finished the week down 7 per cent, its biggest weekly drop in two years. London’s FTSE 100 was 0.5 per cent lower in morning trading while Frankfurt’s Xetra Dax 30 traded down 0.4 per cent. The Europe-wide Euro Stoxx 600 was 0.5 per cent weaker.
Azerbaijan’s minister briefs rcci team on tourism potential
Tuesday February 13, 2018
Chambers
Lcci starts “economic campaign” for the country in indonesia
RAWALPINDI
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trader delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI), led by President Zahid Latif Khan, called on Azerbaijan’s Minister of Culture and Tourism Abulfaz Garayev at his office at Baku. Ambassador Said Khan Mohmand and former senior Vice-President RCCI Rashid Waien were also present. On the occasion, Minister Abulfaz Garayev briefed the RCCI delegation on Azerbaijan’s tourism potential, recent work on tourism development in his country, exchange of legal documents of projects to be implemented in the future. Speaking about the decree signed by the President of the Republic of Azerbaijan on the application of
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visas through “ASAN VISA” system at the international airports of our country, Abulfaz Garayev said this decree is one of the next important steps towards the development of tourism. In addition, the minister said that last year about two million tourists visited the country. The minister said there are all opportunities for bilateral cooperation in the field of increasing the number of tourists visiting Azerbaijan from Pakistan. Pakistani Ambassador Said Khan Mohmand expressed his gratitude to the minister for the reception and emphasized that he had an opportunity to get acquainted with the tourism opportunities of Azerbaijan during his life and informed the businessmen and heads of major business organizations of Pakistan about Azerbaijan. RCCI Chief Zahid Latif Khan briefed the minister about the RCCI 31st International Achievement Award and Business Opportunities Conference to be held in Baku on July 4-5 2018.
LAHORE
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he LCCI President Malik Tahir Javaid, who is heading a 10member trade delegation to Indonesia, Malaysia and Thailand, have started his “Economic Campaign” powerfully and had various high-proOile and meaningful meetings in Jakarta. Malik Tahir Javaid had fruitful meeting with Pakistani Ambassador in Indonesia Muhammad Aqil Nadeem besides visiting the ofOices of Jakarta Chamber of Commerce & Industry, Federation of Indonesian Chamber of Commerce, Industry and Trade, Parts Manufacturers Association and paper & Pulp Manufacturers Association. The Ambassador also hosted a dinner in honor of the delegation. Ambassador of Pakistan in Indonesia Muhammad Aqil Nadeem warmly welcomed the LCCI delegation and assured his full cooperation. He said that visit of the LCCI delegation will play a key role in boosting mutual trade and economic ties between the two countries and pave way for joint ventures for sustainable
development and economic progress. The Ambassador lauded the serious efforts of the LCCI President Malik Tahir Javaid for growing the external trade relations of the country. The LCCI President and Head of the delegation Malik Tahir Javaid appreciated the Pakistani Ambassador in Indonesia for maintaining good relations with the Lahore Chamber of Commerce & Industry. He said that Indonesia and Pakistan have old his-
torical links and enjoy cordial relations. The people of both countries are close to each other and share special bondage of friendship and companionship. Malik Tahir Javaid said that Indonesia is a major trading partner of Pakistan as among the top importing and exporting destinations of Pakistan, Indonesia comes at 3rd and 31st places respectively. Traditionally, the balance of trade has been in favour of Indonesia. Last year, the im-
icci for establishment of SeZ under cpec ISLAMABAD
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heikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry has called upon the government to take measures for ensuring timely establishment of Special Economic Zone (SEZ) under CPEC in the federal capital that would give boost to industrial activities in the region and contribute to improving country’s exports. He said this while exchanging views with with Iftikhar Ali Malik, Vice President, SAARC Chamber of Commerce & Industry during a meeting with him along with a delegation. Muhammad Naveed Senior Vice President ICCI, Zubair Ahmed Malik Chairman Founder Group and Malik Sohail Hussain Chief Coordinator FPCCI were also in the delegation.
Sheikh Amir Waheed said that CPEC has now entered into the second phase of the Long-Term Plan (LTP) after the completion of the Early Harvest Program (EHP) and stressed that more focus should be given on industrial cooperation in the second phase to promote industrialization in the country. He said that local industry should get better opportunities in SEZs that would be set up in the second phase. He said the business community has pinned lot of hopes from CPEC and emphasized that the modernization of local industry should be the main component of the LTP in order to transform Pakistan into an industrialized country at par with other developed countries. Speaking at the occasion, Iftikhar Ali, Vice President SAARC Chamber of Commerce and Chairman United Business Group assured that he would convey the demand of ICCI for establishment of SEZ in Islamabad
to the relevant authorities. He said that the CPEC was a game changer for Pakistan and the LTP has created lot of positives for Pakistan and it would touch upon all important sectors of the economy including connectivity with road and rail infrastructure, information network, energy, trade, industrial parks, agriculture, poverty alleviation, and tourism with a focus on maritime tourism. He said that apart from industrial cooperation, the LTP would also modernize Pakistan’s agriculture sector as new agro-based technologies, seeds, and irrigation mechanism would be introduced. He stressed that the enterprises from China and Pakistan should be given enhanced role in the LTP so that joint ventures and partnerships between the private sectors of Pakistan and China could be materialized to create economic beneOits for both countries and for the region.
ports made from Indonesia to Pakistan were almost 16 times greater than our exports to Indonesia. He said that the bilateral trade Oigures fairly indicate the economic relations between two countries but these can be even greater if Pakistan is given more access to Indonesian market. Pakistan could not obtain much beneOit from PTA signed between two countries and that is why our exports are not picking up.
YeS BAnk’s 1st uSD bond of $600m raised from int’l markets
ndia’s fourth largest private sector bank, YES BANK has successfully completed issuance of its Oirst USD 600 million (more than Rs. 3,847 crore) bond issue in the international debt markets. The Bond issuance is for a tenor of 5 years and is rated Baa3 by Moody’s Investors Service and is listed on the London Stock Exchange International Securities Market (LSE ISM), the Singapore Exchange Securities Trading (SGX), and the India International Exchange IFSC at GIFT City, Gandhinagar. This is the largest debut International bond issuance by an Indian bank with a lowest spread over Treasury for a debut Oixed rate. –CB Report
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Customs Appraisement Faisalabad exceeds target by posting 130% growth FAISALABAD: The Model Customs Collectorate Appraisement collected Rs1102.149million during January 2018 against the set target of Rs846.99million surpassing it by 130 percent. The Customs Appraisement received customs duty (CD), sales tax (ST), income tax (IT) and federal excise duty (FED) during said period. It generated Rs322.120million as customs duty against the assigned target of Rs276.26million.
Tuesday, February 13, 2018
CUSTOMS BULLETIN
customs seizes 1,500kg drugs worth over rs 2 million: collector Asharf Ali QUETTA wAQAr AHMeD AnSAri www.customsbulletin.com
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ollector Ashraf Ali has said that the Customs officials have seized drugs worth more than Rs2 million and arrested two smugglers at Balili check post. Addressing a press conference at Customs House, he said Balochistan Customs has intensified to curb smuggling bids, especially from the border areas of Afghanistan. Ashraf Ali was flanked by additional collector Zubair Shah, Superintendent Saeed Baloch, Deputy Superintendent Ghulam Sawar and Hayatullah Durrani. He said two days back 1,500kg of drugs worth millions were seized. Ali said acting on a tipoff that a huge cache of drugs will enter the country from Afghanistan, security had been tightened. During checking 476kg of charas was recovered from secret compartments of a truck. The truck was seized and two smugglers arrested. “Customs staff with the help of Frontier Corps as well as other law enforcement agencies is working for eradication of drugs from the country,” he said.
Hyderabad customs seizes iranian diesel worth rs2.29m
country via Karachi. A team of officers of the directorate was constituted to foil such attempt of smuggling. The suspected vehicle was spotted and the persons in the vehicle could not produce any document regarding the legal import possession and transportation of loaded diesel on the spot. Therefore, the vehicle along with loaded HSD was taken into possession by the staff and escorted to office of Directorate of Intelligence & Investigation, Hyderabad.
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HYDERABAD
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irectorate of Customs Intelligence & Investigation has seized 24,000 litres of smuggled Iranian diesel worth Rs2.29 million. Customs Intelligence Director General Shaukat Ali forwarded information to Additional Director Ahsan Khan that huge quantity of smuggled diesel loaded on a tanker would be transported into the 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).