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Karachi, Tue February 14, 2017

FAISALABAD

NAEEM SHEIKH

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irector General of Customs Intelligence and Investigation (I&I) Shaukat Ali appreciated the efforts of Customs Intelligence Faisalabad for conducting result-oriented raids on smugglers. Director General Shaukat Ali praised the staff while visiting Directorate General of Cus-

toms Intelligence and Investigation Faisalabad ofSice and reviewed the progress of the departments. Director Customs I&I Enforcement Rubab Sikandar and Deputy Director Riaz Hussain welcomed him on his arrival.

Director Intelligence Rubab Sikandar and Riaz Hussain, Deputy Director, briefed the director general about the ongoing activities and performance of the ofSicers against the offenders involved in the smuggling

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and tax evasion. Riaz Hussain brief the DG on the progress of the department.

He said during the Financial Year2016-17 in the Sirst six months (JulyJanuary), Faisalabad Intelligence registered almost 135 smuggling cases valued Rs424 millions involving customs duty and taxes of Rs208millions. The department earned Rs152million through auction and release of smuggling items.

DG Valuation revises customs values of PU sole for shoes

Customs foils bid to smuggle 660g heroin to China

Pakistan Railways being upgraded, modernised: minister

Samaira Nazir inaugurates free dispencary for customs class 4 staff

Post Clearance Audit recovers Rs287.254m in January

DGValuation has revised the customs value of PU soles for shoes throughValuation | SEE pAgE 02 |

TheCustomsofficialsatInternationalMail Officehavefoiledabidtosmuggle660g | SEE pAgE 03 |

Railways Minister Khawaja Saad has said that the dream of upgrading the Pakistan | SEE pAgE 04 |

Chief Collector Samara Nazir has inaugurated free dispensary for the class4 | SEE pAgE 14 |

PCA Karachi has detected duty/tax evasion and short payment of Rs 287.254 million | SEE pAgE 16 |

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‘Malaysian timber costlier and finer than Chinese timber’ Tuesday, February 14, 2017

National

ISLAMABAD: Information gathered from Members, importers and traders of the Karachi Timber Merchant Group (KTMG) reveals that 99% Melamine MDF Door Skin is imported from China. They further confirmed that retail prices of Chinese (MDF) Door Skin is lesser than Malaysian Primed (HDF) Door Skins in Pakistani markets as the Malaysian Primed Door Skins are costlier being fine in quality. Recently, Directorate General of Customs Valuation has increased import value of Melamine MDF Door Skin of Chinese origin by manifolds and the importers of this item are vying against this irrational increase who also approached the Director General Valuation through the review petition to do justice in this case.

Dg customs Valuation revises customs values of pu sole for shoes

FAISALABAD

KARACHI

NAEEM SHEIKH

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he Customs Intelligence and Investigation, Faisalabad, has seized different smuggled Iranian origin glassware and plasticware worth Rs1.6million involving customs duty and taxes of Rs852000. Sources told Customs Today that Additional Director Customs, Faisalabad, Azmat Tahira received a tip-off regarding the smuggling of above said items. She formed a raiding team comprising Superintendent Zahid Raza Bukhari, Senior Intelligence Officer Muhammad Tahir, Intelligence Officers Muhammad Saleem, Mansoor Nasir and Sepoys Ajmal Hussain and Muhammad Musaddiq Ahmad. The customs team intercepted a trailer with registration No: TLS-443 near Rajana Road, Kamalia, Toba Take Singh. The trailer was loaded with glassware weighed 18538 kg and plastic-ware did 810 kg of Iranian origin. The team asked the driver of the vehicle, identified as Muhammad Ishaq son of Abdul Qadoos, resident of Killi Janiping Ali, Noshki Chungi, to prove the legal status of the goods but he failed. The customs team seized the goods and registered a case against the accused.

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he Directorate General of Customs Valuation has revised the customs value of PU soles for shoes through Valuation Ruling No 1034/2017 under Section 25A of the Customs Act, 1969. According to details, the Customs values of PU Soles for Shoes were circulated vide VDB letter No.158 dated 10.01.2017. It was deemed expedient to issue a valuation ruling hence an exercise was conducted to determine Customs values of PU soles for shoes in line with current price trend in the international market. Stakeholders’ meetings were scheduled on 31.01.2017 and 06-02-2017.

The stakeholders were requested to submit Invoices of imports during last three months showing factual value. Websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.

Copies of contracts made / LCs opened during the last three months showing the value of item in question. Copies of sales tax invoices issued during last three months showing the difference in price (excluding duty and taxes) to substantiate that the beneSit of difference in price is passed on to the local buyers. No one appeared for the sched-

faisalabad customs seizes worth rs1.6 million Iranian goods

uled meetings nor any documents were received from any stakeholders which shows that the importers are disinterested in proceedings and values are considerably higher than their declarations and by keeping themselves absent, they may have created an alibi for being unheard.

Meanwhile, The Directorate General of Customs Valuation issued the reference values of feeding tube and

Yankaure handle/tube.

According to details, the Directorate General initiated an exercise to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reSlect values of the items as traded in the international market. During the scrutiny of previous clearance data, it was been observed that feeding

tube falling under PCT headings 9018.3990 are being assessed at different values and certain transactions are on very low side.

The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the Sindings of the market surveys.

Dc Asma issues notice to owner of non-duty paid Mazda T

FAISALABAD

IQrA SHEHZADI

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he Customs Adjudication Deputy Collector Asma Hameed has issued a show cause notice to owners of non duty paid Mazda. Sources told Customs Today that Anti Smuggling Organization (ASO) intercepted a Mazda bearing registration number 7691.

The ASO team asked the owners of the vehicle who was identiSied as

Hanif and second person named as Mannan show documents regarding legal import of Mazda but they failed to produce any legal documents regarding possession of the above said vehicle. Therefore, the ASO team impounded the vehicle under customs laws and forwarded the case to Customs Adjudication for further legal action. Now, Deputy Collector Asma Hameed issued notices to the accused person on the violation of Section 10-A. 89(1) and 156(1) of the Customs Act, 1969 punishable un-

der Section 156(1)89 of the Customs Act, 1969 and served him a show cause notice as to why the seized vehicle should not be conSiscated under aforementioned provisions of the law. However, the adjudication has directed the accused person to Sile reply on next date of hearing. The seizing agency has also been directed to Sile reply in the respective case. The adjudication authority also directed Deputy Collector Muhammad Rizwan to attend the hearing on schedule date along

with relevant record.

It is necessary to mention here that Customs Adjudication authorities expedited their efforts to conclude hearing of pending cases on priority basis. Meanwhile, Deputy Collector Customs Adjudication Asma Hameed has issued Order-inOriginal (ONO) in favour of the Customs Intelligence and Investigations (I&I) while declaring the seizure of foreign liquor bottles as legal.

As per details, the Customs Air Flight Unit (AFU) recovered foreign

origin ten foreign liquor bottles of different brands from a suspect, Abdul Rauf . Custom AFU staff during the course of checking of passengers for Flydubai international Slight scheduled to be arrived at Faisalabad from Dubai. A hand carried black bag owned by passenger namely Abdul Rauf checked by the customs staff . The bag was having doubtful status and was opened in the presence of witness which led to recovery of the foreign liquor bottles of different brands.

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Tax dept issued with notice against attaching bank accounts KARACHI: The Sindh High Court (SHC) issued two notices to the tax department and deputy attorney general of Pakistan on a constitutional petition filed by M/s V.V Cotton Ginning & Oil Mills Private Limited, M/s Kanwal Cotton Ginners Oil Mills Private Limited, M/s Asad Cotton Ginners Private Limited, M/s Hingloj Cotton Oil & Food Industries and others against the impugned notices for attachment of their bank accounts for recovery of disputed income tax. Hearing the petition, a two-member bench, headed by Justice Aqeel Ahmed, also directed them to file their respective para-wise comments for February 15, 2017.

customs generates rs2303.56m cD during Sep-Jan of fY2106-17

Tuesday February 14, 2017

National

customs foils bid to smuggle 660g heroin to china

ISLAMABAD

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he Model Customs Collectorate collected Rs2303.56million customs duty (CD) from September to January of Financial Year (FY) 2106-17. Additional Deputy Collector Khawaja Khurram Naeem told Customs Today that the impact of Electronic Import Form (EIF) was overstated and it has not negatively affected the revenue collection. He said that during January the collectorate generated Rs538.00 million customs duty (CD) whereas the revenue of Rs486.66 million was collected under the head of CD during December FY16-17.

He said the collectorate collected Rs436.81million customs duty during November, Rs411.57million during October and Rs430.52m during September.

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Non-bailable warrant for concealing income issued FAISALABAD

NAEEM SHEIKH

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ustoms Court Judge Syed Faiz Rasool Rashdi issued non-bailable arrest warrants for absconders Bashir Dawood and Mariyam Dawood who were booked for concealing the income and money laundering over offshore company.

During the hearing, Investigation Officer Muhammad Arif appeared before the court and submitted that both accused have not been arrested yet therefore he is seeking time for compliance of court’s order. It is pertinent to mention here that the court had issued their bailable warrants several times due to non-appearance but they did not heed towards them, so the court now had to issue their non-bailable arrest warrants. Earlier, on the last date of hearing, investigation officer had filed an application before the court.

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ISLAMABAD

tArIQ DErYA

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he Customs ofSicials at International Mail OfSice have foiled a bid to smuggle 660gram heroin to China.

According to a Customs spokesperson, the heroin was tactfully concealed in power banks scheduled to be dispatched to China.

A smuggler, identiSied as Zahid Gull and hails from Peshawar, booked the parcel in Peshawar for China, he added. The Deputy Collector at Benazir Bhutto Islamabad International Airport, Nagma-e-Tehniyat, received a tipoff and directed ofSicials to conduct a thorough search of parcels at International Mail OfSicer, which resulted into recovery of 660g heroin. A case was registered against the smuggler while further investigation was on, he said.

Meanwhile, The Customs Dry Port, Islamabad, not only achieved the target but also surpassed the customs duty target of Rs 56.441 million as it had collected revenue of Rs 326.441 million under the head of customs duty (CD) during January, Financial Year FY2016-17.

According to details told by Assistant Collector Amanat Khan that above said surplus collection Sigures showed that dry port collected excellent revenue during January 2016-17. He said the Islamabad Dry Port was assigned the revenue collection target of Rs270million un-

der the head of CD during January FY16-17. He said the dry port collected revenue of Rs307.965million under the head of CD during December FY16-17. He further said the dry port was assigned Rs260million CD target for above said period, the dry port was collected revenue of Rs285.858million against the assigned target of Rs245million for November FY2016-17 under the head of CD. The assistant collector dry port

Dc at Benazir Bhutto Islamabad International Airport, Nagma-etehniyat, received a tipoff and directed officials to conduct a thorough search of parcels at International Mail officer, which resulted into recovery of 660g heroin. A case was registered against the smuggler while further investigation was on, he said

govt decides to reduce sales tax rate: NA told

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ISLAMABAD

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www.customsbulletin.com he government is determined to reduce the rate of sales tax on the improvement of economy in the country. Tax recovery has increased by 62% during the era of current government.

Parliamentary Secretary for Finance Rana Muhammad Afzal Khan, Friday, while responding to a question asked by member National Assembly Belum Hasnain informed the

House that tax recovery would increase by 80% during this Siscal year, in case the Federal Board of Revenue (FBR) would achieve the revenue collection targets.

In response to another question, he said that there was no dual taxation on income in the country and government was quite determined to reduce the rate of sales tax on achieving economic stability. He further informed the House that situation of recovery of loans had improved in the country and due to a stabilized economic situation

international monetary institutions were providing loans to Pakistan on one to two percent lesser interest rate.

He said that the government was also pursuing the policy of repaying the loans to the international lenders and had paid $ 12 billion loans which had been taken by the previous governments, even then the foreign exchange reserves stood at $ 24 billion. Replying to another question asked by Perveen Masood Bhatti, Rana Muhammad Afzal Khan said that the Finance Ministry would act upon the rules.

told Customs Today that the dry port Islamabad collected revenue of Rs261.737million against the assigned target of Rs225million under the head of CD for October FY16-17 while the dry port collected revenue of Rs289.208million against the assigned target of Rs290million under the head of CD during September FY16-17. Amanat Khan said the dry port collected revenue of Rs275.659million against the assigned target of Rs276million.

Exports decline by 3.21% in 7 months xports from the country witnessed decrease of 3.21 percent during the first seven months of the current fiscal year as against the corresponding period of last year. According to data released by Pakistan Bureau of Statistics (PBS), the exports during July-January (2016-17) were recorded at $11.685 billion compared to the exports of $12.073 billion in July- January (2015-16).

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Health crisis looming as Karachi, Lahore drug traders go on strike LAHORE/KARACHI: Patients faced considerable difficulty owing to the strike by the Chemist Association due to which medical stores outside Lahore's Mayo Hospital remained closed, on Monday.

According to details, the wholesale market and distribution of medical supplies in Karachi will also remain closed. The representative of the Chemist Association claimed that important decisions with regard to Sindh will be taken up in Lahore today. In Lahore, a split has occurred between protesters involved in the selling and manufacture of medical drugs.

Tuesday February 14, 2017

Business

pakistan railways being upgraded: Saad LAHORE

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ailways Minister Khawaja Saad RaSique has said that the dream of upgrading the Pakistan Railways has started to materialise. He was addressing the foundation stone laying ceremony for the up-gradation of the Raiwind Railway Station.

He said that the new railway station at Raiwind would facilitate the thousands who come to attend the congregation of the Tablighi Jammat. The minister said that the Raiwind Railway station lies on the main railway route of the ChinaPakistan Economic Corridor Proj-

gB province: a cpEc prerequisite KARACHI

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he Pakistan government is projecting the China-Pakistan Economic Corridor (CPEC) project as a panacea to all its problems, one which will result in unprecedented nationwide prosperity. Undoubtedly, an investment of the proposed scale and a project completed within a limited time frame is welcome, but a cautionary note is in order: mega projects of this scale also entail risks of equal magnitude. Therefore, it is vital to meticulously address all possible impediments in their implementation through careful planning.

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ect and was being upgraded under the same, with 350 Chinese engineers are working on it. He added that better facilities would be en-

sured at Raiwind railway station including a reservation ofSice.

Railways Chief Executive OfSicer Javed Anwar said on the occasion

that the project would be completed

by February 2018 at a cost of about Rs 135 million.

“After the completion of the ML-1 within Sive to six years, trains will run at the speed of 160 km/h, covering the Lahore-Karachi distance in almost 10 hours,” RaSique said. Saad RaSique said that the condition of the Pakistan Railways was now far better than what it used to be in 2013.

“Historic steps have been taken to modernise the railways and its systems. Pensioners of Pakistan Railways now get their pension through an online system,” he said. Pakistan Railways has also launched an e-ticketing system, allowing passengers to book their seats from anywhere in the country. The minister said that the online system had been introduced for 48 trains, so far.

pakistan’s steely decision to protect its own P

KARACHI

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akistan’s decision to slap up to 40% anti-dumping duty on Chinese steel is a massive development for two reasons – it paves way for growth of the local industry and, more importantly, signals the country’s intention that it will protect the interests of its own even if over $55 billion are coming from the same geographic location.

The duty, imposed by the National Tariff Commission (NTC) last

week, will be in effect for Sive years from the date the body commenced its investigations into the local industry’s claims that the import of Chinese steel is causing it material injury. The investigation began in August 2015. China has a massive supply of steel and this has turned into an international trade complexity. Steel producers all over the world often accuse China of dumping cheaper steel in their markets.

They say Chinese enjoy government subsidies, allowing them to produce the commodity cheaper, rendering other players uncompetitive.

The country has an installed capacity of producing over 800 million tons of steel a year and is, by far, the largest steel producer in the world.

Its nearest competitor Japan produces a little over 100 million tons of steel a year. No wonder other smaller players feel threatened. The US, India and many other countries have imposed anti-dumping duties on different Chinese steel products in 2016 to protect their domestic industries.

But coming back to Pakistan. Industrial production remained 6.8% in Siscal year 2015-16, which was the highest in the previous four years.

12 power projects to be completed next year ISLAMABAD

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welve early harvest power projects, including Sahiwal coalfired project, Port Qasim power plant and Karot Hydropower station, will be completed by 2017-18 under the China-Pakistan Economic Corridor (CPEC) and will help meet energy needs of the country. "These energy generation projects will produce over 5000MW of electricity and overcome power demand-supply gap in the country," said the sources in the Ministry of Planning. According to the sources, the early harvest projects involve power generation from coal, solar, wind and water. The medium-term projects under CPEC, the sources said, would be completed by 2025, whereas the longterm projects would be completed by 2030. Development work on all projects will gain momentum with the every passing day, they said. The existing list of power projects would be adjusted based on the discussion during the visit of the Chinese experts in current month, while the updated list would be discussed during next meeting of the Joint Energy Working Group with China. A complete national consensus was seen during the meeting of 6th Joint Cooperation Committee, as all federating units participated in it.

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rusted pipeline: Simly Dam pipelines’ leaks plugged ISLAMABAD

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n a bid to reduce distribution losses to tackle water shortage in the capital, the civic body has plugged leaks in pipelines supplying water from Simly Dam at a cost of around a million rupees.

Moreover, the civic body is devising a plan to revive closed treatment plants and remove illegal connec-

tions. Islamabad Metropolitan Corporation (IMC) mayor and Capital Development Authority (CDA) Chairman Sheikh Anser Aziz on Sunday inspected repair work on the 40 kilometre-long main water supply lines from Simly Dam. He visited the pipelines near Quaid-i-Azam University, Bari Imam, Bhara Kahu Bazaar, Thal, Mera Bagwal, Sari Chowk, Phul Garan, and Simlly Dam road. CDA ofSicials told him that there were three water

supply lines, two of which had a diameter of 36 inches while the third was larger with a diameter of 48 inches. He was informed that the capital is currently receiving 24 million gallons of water per day from the dam. However, the civic body said that this Sigure would rise after the leakages were Sixed and illegal water connections were removed.

Noting that the pipeline had rusted at a number of spots, Aziz said that the civic body had spent

Rs800,000 to plug the leaks. To address the water supply situation, Aziz said he had constituted a committee headed by the deputy mayor to resolve water supply issues. He added that the IMC would devise a comprehensive and consolidated strategy to ensure adequate and uninterrupted supply of water to the capital, especially during the summer. Aziz said that in addition to leaks in the pipeline, people had illegally tapped into pipeline, leeching thousands of

gallons of water for use in factories, service stations, restaurants hotels and even residential units. However, these unsanctioned connections would be removed and prosecuted under the law in the next phase of their plan. The mayor also took notice of some of treatment plants near Simly Dam which were closed. He was told that the water treatment plant installed at Simly Dam treats water as per standards of the World Health Organization (WHO).

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ISLAMABAD

M fAIZAN

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hief International Customs Federal Board of Revenue Dr. Zubair has said we are ready to face the risks and challenges. Pakistan Customs is breaking all previous records of revenue collections.

He stated this while giving an exclusive interview to Customs Today.

He explained about the World Customs Organization Theme Data Analysis and said there are two main purposes of the World Customs Organization; one is to facilitate trade and the second is to never lose regulatory controls. ‘When we talk about trade facilitation, it is important to make our enforcement system better’, he remarked. He said when we provide trade facilitation then risks and challenges increase but we have a risk management system to counter it. We also have a post clearance audit system for which we need to get expertise in data analysis, he added.

The World Customs Organization’s this year’s theme is data analysis which means we will have to facilitate the legitimate trade and counter the illegitimate trade and smuggling through data analysis as all customs operations are incomplete without data analysis,

Tuesday, February 14, 2017

he opined. Pakistan Customs has a full capac- which we will sign with International comity to meet all the challenges which can be munity and organizations because we want observed by last year’s performance. We ac- to become part of more international convenquitted ourselves well not only on the front of tions which will be helpful for improving perrevenue collection but also on enforcement formance of our customs department. We are side, he maintained. The international organ- also improving our IT system to tackle the fuizations like World Customs Organization, ture needs, he further said. It is our responsiUnited Nations office of Drugs and Crimes, bility to provide security to international World Trade Organization and other interna- trade and also secure country’s interests. tional community have not only lauded our He said Pakistan and Afghanistan are updating performance but also done the efforts of the their systems that will be introduced on Pakistan Customs, he observed.

Torkham border soon. The agreement with One of the main problems we have been facing China and UAE will be linked in current years, for last many years is lack of human resource and accords with Iran and other countries as different posts from grade one to 16 are will also be signed for data interchange syslying vacant. Now the ban on appointtem. He said data interchange systems will ments has been lifted which will imhelp find out irregularities in the tranprove the performance of the desit trade. partment with the appointments of young people, he added. He said China Pakistan Economic Corridor is very important project for Pakistan Customs for which we are launching various projects.

We have proposed china that sost e them dry port needs to be upgrade, posn o i t a sibly with Chinese investment, to ganiz two e are ms or r o e t make it capable of basic facilities s h t u c ms said world like office and storage capacity. He custo is and d s l r y l o a n disclosed that we are working on ade he w Data A ate tr es of t different MoUs and agreements facilit urpos

p is to main lose ; one n o i never t a o t z i s i n alk a nd org n we t e e seco h h t w ‘ nt d . an porta ntrols m o i c s i y r t ato on, i tem regul ilitati c a f nt sys e e d m a r e t c enfor about d e our k a marke e m r e to h r ’, bette

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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

praising pakistan’ economy

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ccording to a report by a US news and analysis organization, the progress of Pakistan is vital for the entire region due to various reasons. A nation of 200 million, Pakistan is the sixth most populous country in the world and a nuclear power. A recent development in Pakistan in the form of an economic corridor has changed the dynamics of the regional economy and security issue is now directly linked with the Chinese interests. But the country is facing various issues, including substandard education system, rising trade deficits and minimal investment, especially from western nations.

The country has been oscillating between political chaos and military rules since independence. At present, only China is the main investor in the country and its companies are owning various state owned entities in Pakistan.

A good point is that the era of political turmoil is almost over, but there is always room for improvement and the government will have to streamline its affairs. The country has also been facing energy crisis and water shortage for the last many decades. When various regional countries are continuing to consolidate their economic gains, Pakistan is titled as the most underrated economy of the year. However, despite all odds, Pakistan has a highly bullish stock market and surging foreign exchange reserves. The equity market of the country registered a 46 percent growth last year and its performance is regarded as better than China and India. The gross domestic growth is likely to record five percent growth this year and normalcy has returned to the country. The positive report is no doubt a blow of fresh air, but the government should not fully rely on foreign media reports. Terrorist incidents have though significantly reduced during the last three years and poverty rate has declined by 50 percent, but threats to peace are still real and some urgent steps are required to alleviate poverty in the country. As a matter of fact, poor administration and mismanagement are the main enemies of this country. The exports are falling and trade deficits are increasing, but the government has so far failed to create industrial surplus and introduce a reasonable trade policy. Unless the present leadership works on war footings during its remaining tenure in the office, it will be difficult for it to claim success in the next elections.

New Infrastructure finance policy A

LAHORE

Dr AftAB AfZAL

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ccording to newspaper reports, the government has approved a summary on Infrastructure Finance Policy 2017 through a premier federal government institution and a consultative forum, the Economic Coordination Committee of the Cabinet.The policy envisages a long-term infrastructure Sinance framework to attract foreign direct investment and mobilise private Sinancing within the country for infrastructure projects. The policy will also cover demand and supply sides of Sinance in the wake of the economic reforms agenda launched by the current

government. The government claims it has achieved macroeconomic stability in the Sirst three years tenure in the ofSice and is now focusing on attaining higher sustainable and inclusive growth.

The government also claims that Pakistan has achieved the highest growth of 4.7 percent in eight years and there is a need to carry on the growth momentum. The development and expansion of infrastructure is necessary and inclusion of the private sector to invest and Sinance projects is imperative to cater to the needs of the growing economy. According to the ofSicial circles, the public sector investment is not sufSicient to support the expansion of development projects and private sector involvement is encouraged

in the present situation.

The government has consulted key stakeholders to Sinancethe infrastructure projects in line with the policy framework. It also seeks diversiSication of Sinancing sources and strengthening of key institutions to attract private investment in the sector. Under the policy, an action plan will be launched to meet the Sinancing requirements for a long time through an efSicient policy, good practices for infrastructure projects, support investment and encourage the development of Sinance framework. The government will also look into increasing the quantum of infrastructure Sinancing from the private sector.The sectors covered under the policy include ports, terminals, airports, railways, waterways,and renewable power infra-

structure. The China Pakistan Economic Corridor is the best example of foreign investment and there is no dearth of funds at the local level if business community is persuaded to participate in the development process. Through the new policy, it is hoped that the government will be able to increase infrastructure investment through internal and external resources. The policy will also facilitate and increase the role of the private sector in the nation building programme. The government should take the steps by involving the opposition parties into conSidence. As parliament is intact, bills should be passed by the assembly to launch the development projects, leaving little room for the next government to create any hindrance in the development process.

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VirtusaPolaris Q3 revenues up 44% yoy CHENNAI: VirtusaPolaris reported revenues for the Oct – Dec 16 quarter at $217.2 million, an increase of 3.4% sequentially and 44.2% year-over-year (yoy), well within its guidance numbers announced earlier.

On a constant currency basis, third quarter revenue increased 4.2% sequentially and 48.6% yoy.

The company recorded a PAT of $4.4 million, up 37.5% from $3.2 million in Q2 and down 61% from $11.3 million for the same quarter last year.

The company has guided to a fourth quarter revenue in the range of $224 to $229 million and annual revenues to be in the range of $856.8 to $861.8 million, a downgrade from the guidance of $854 to $866 million, announced in the last quarter.

LccI decries privatization of SME Bank LAHORE

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Chambers

SccI plans to develop “the knowledge city” under supervision of NuSt

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he Lahore Chamber of Commerce & Industry Wednesday strongly reacted to the SME Bank privatization plan and urged the government to shun the idea for the sake of Small and Medium Enterprises. In a statement issued here, the LCCI President Abdul Basit and Vice President Muhammad Nasir Hameed Khan said that privatization of Small and Medium Enterprises Bank is an illogical decision that has been taken without taking stakeholders on board. They said that SME Bank of Pakistan is supporting and developing the SME sector by providing necessary financial and technical assistance on a sustainable basis. They said that SME

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Bank of Pakistan is also enabling the SMEs to contribute to economic development through value addition and exports and is also promoting entrepreneurship and creating employment opportunities. The LCCI officebearers said that in the present scenario when SME Bank is fulfilling its responsibilities in a good manner, it privatization is incomprehensible. They said that instead of selling it off, government should shift its focus to the SME sector of Pakistan as these are considered the engine of economic growth in both developed and developing countries. They said that Small and Medium Enterprises of Pakistan are providing employment to the millions of people besides playing a significant role for economic uplift of the country. “Selling-off of Small and Medium Enterprises (SME) is not a good option as its buyer would think only about profiteering, not about the SME sector of Pakistan therefore government should shelve the plan of its selling and think about the Small and Medium Sector of Pakistan.

Tuesday February 14, 2017

ISLAMABAD

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SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) has chalked out a plan to develop export-oriented Sialkot city now as “the knowledge city” under the direct supervision of National University of Science and Technology (NUST) Islamabad and National Textile University (NTU) Faisalabad, as the pace of the practical work has been jazzed for establishing the resident campuses of NUST and NTU at Sialkot.

President Sialkot Chamber of Commerce and Industry (SCCI) Majid Raza Bhutta told the newsmen that the Prime Minister Nawaz Sharif has already approved the project of establishing these two campuses at Sialkot here.

SCCI President added that both of these universities were also preparing the special courses including fabric manufacturing, textile, garments designing, leather and composite material design for the export-oriented industries of Sialkot , keeping in the view the present demands and future needs

of Sialkot’s sports goods, surgical instruments, leather, leather garments, textile and other industries, as these specially designed courses would also be helpful to Slourish the Sialkot industries on modern lines besides ensuring the early and smooth provision of the advanced manufacturing technologies to more than a century old Sialkot in-

dustries. SCCI President revealed that federal government would soon give “go ahead” to establish the resident campuses of NUST and NTU universities at Sialkot with state-of-the-art laboratories.

“Both National University of Science and Technology (NUST) and National Textile University (NTU) have focused on the development

fpccI urges govt to include agro-base farm sector in cpEc

T DUBAI

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he top body of country’s business community has urged the government to include agrobased farm sector in the China Pakistan Economic Corridor (CPEC) project. This was stated by Federation of Pakistan Chambers of Commerce & Industry’s (FPCCI) Regional Standing Committee Chairman Ahmad Jawad.

He said cooperation between the two countries in agricultural sector holds every potential to be included in CPEC as one of the major development oriented project. “Corporate farming is, however, yet an area of possible cooperation through joint ventures,” he said. “Projects for technological support in the Sield

of agriculture and farm sector research can be proposed,” suggested the FPCCI ofSicial mentioning value addition was another important area that could be focused upon.

He said the government itself and all relevant stakeholders within the country also need to strengthen the agricultural sector through adequate investment in research.

Equal attention, he said was needed to not only maintain but also increase yields; develop crop and plant tolerance against pests, diseases and climate change associated threats. Ahmad Jawad also suggested better regulation of seed markets and stronger incentives to encourage private investment in research and development. The FPCCI Standing Committee chairman said Pakistan’s agricultural sector

holds enormous potential that could be tapped through higher levels of investment and major reforms in public policy related to agriculture sector. Meanwhile, The leadership of Businessmen Group (BMG) and ofSice bearers of the Karachi Chamber of Commerce & Industry (KCCI) congratulated Muhammad Zubair on his appointment as 32nd Governor of Sindh which would surely yield positive results. In a statement issued, Chairman BMG and former President KCCI Siraj Kassam Teli, Vice Chairmen BMG and former Presidents Tahir Khaliq, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro and KCCI Managing Committee members.

of Sialkot industries, which were more than a century old, on modern lines by ensuring the early provision of advanced manufacturing technologies to Sialkot industries as well”, narrated SCCI President.

Both of these campuses would be established on 150 acres of land each near Sialkot international standard under the direct supervision of Sialkot Chamber of Commerce and Industry (SCCI), in active collaboration with the federal government for providing the international standard quality education of engineering, science and technology to the local students at local level, besides, paving the ways to provide the skilled work force to the Sialkot industries as well. “we have as many as 500 acres of land available near Sialkot international airport for establishing the separate resident campuses of NUST and NTU at Sialkot there on the special directives of the Prime Minister Nawaz Sharif”, he added. SCCI President Majid Raza Bhutta added that now it was a great vision of Sialkot Chamber of Commerce and Industry (SCCI) to develop exportoriented Sialkot.

china’s exports, imports surge hina trade figures were much stronger than expected in January as demand picked up at home and abroad. It was an encouraging start to the year for the world’s largest trading nation even as Asia braces for a rise in US protectionism under President Donald Trump. Exports rose 7.9 percent from January last year measured in dollars. Imports increased 16.7 percent, which was the fastest pace in four years. Zhao Zhongxiu, Vicepresident of the University of International Business and Economics in Beijing, commented: “Trade has benefited from a number of government measures intended to stabilise exports and promote economic growth. They include effective measures, such as those to streamline administration and facilitate foreign trade, as well as improve tax reimbursements. –CB Report

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Customs Appellate Tribunal disposes of case filed by Wasif Hussain Tuesday February 14, 2017

National Khushab fIu seizes non duty paid items worth rs 5.75m during crackdown FAISALABAD

NAEEM SHEIKH

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ISLAMABAD: A single bench of the Customs Appellate Tribunal comprising member, Syed Muhammad Anwar, disposed of a case filed by Wasif Hussain against Model Collectorate of Customs (MCC). The bench dismissed the petitioner’s submission on release of vehicle.

The bench also heard other cases filed by M/s Lucky Enterprises and Haq Nawaz.

Both of these cases had been filed during 2016 and were pending with the tribunal.

M/s Lucky Enterprises had challenged a customs duty assessment sustained by the adjudication.

Additional collector issues notice to owner of non duty paid almonds C

FAISALABAD

IQrA SHEHZADI

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he Custom Intelligence and Investigations Field Investigation Unit (FIU) Khushab confiscated miscellaneous items which includes knitted, mesh fabrics, composed polyester worth Rs5.75 million involving customs duty and taxes Rs29,80,042 and also confiscated container worth Rs3,300,000. Sources told Customs Today, that Deputy Director Customs Intelligence Riaz Hussain received information about some smuggling attempts. He immediately constituted a raiding party comprising Senior Intelligence Officers Superintendent Zahid Raza Bukhari, Senior Intelligence Officer (SIO) Muhammad Tahir, Intelligence Officer Munir Ahmed, Muhammad Ramzan, Muhammad Saleem and Sepoys Liaqat Ali, Shouqat Hayat, Naveed Akhtar, Muhammad Iqbal, Muhammad Rafique, Israr Ahmed, and Fakhar Abbas.

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Hearing of recovery of rs774m from M/s Biafo adjourned he Islamabad High Court adjourned the hearing of a complaint filed by M/S Biafo Industries challenging a recovery claim of Rs774million. Justice Aamer Farooq of the Islamabad High Court (IHC) heard the matter after delay and adjourned it due to time constraints. The court’s administration will not further schedule the date of hearing. M/s Biafo Industries had filed the case challenging a show cause notice issued by the Large Taxpayers Unit (LTU), Islamabad. M/s Biafo Industries had named the Federal Board of Revenue (FBR), officers of the Large Taxpayers Unit (LTU), including commissioner inland revenue.

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ustoms Adjudication Additional Collector Beelam-urRamzan has issued a show cause notice to a suspect in a nonduty paid almonds case involving Rs1.851 million.

According to details, Faisalabad Customs Intelligence and Investigation following information impounded a vehicle and recovered 9990 kilograms of admonds near Jhung road Faisalabad.

The team asked the driver of the vehicle named identiSied as Abdullah to show legal documents regarding legal import of the good but he could not produce the same.

Therefore, the ofSicials impounded the smuggled almonds under the customs laws and forwarded

the case to the Customs Adjudication for further legal action.

Now, Additional Collector Beelamur-Ramzan issued notice to the accused person on the violation of Section 10-A 89(1) and 156(1) of the

Customs Act, 1969. However, the adjudication has directed the accused to Sile a reply on the next date of hearing .The seizing agency has also been directed to Sile a reply in the case. The adjudication authority also directed

Customs Intelligence Deputy Director Muhammad Riaz Hussain to attend the hearing on schedule date along with relevant record. Meanwhile, Customs Adjudication Additional Collector Beelam-ur-Ramzan has issued a show cause notice to suspect in nonduty paid used trailer and grey fabrics case involving Rs2.773 million. As per the details, Faisalabad Customs Intelligence and Investigation following information impounded a used Trailer/Container bearing Registration No.TLQ 768 near jhang Road. The team asked the driver of the vehicle named Muhammad Imran to show documents regarding legal import of the vehicle and goods but he could not produce the same. Therefore, the ofSicials impounded the vehicle and goods under the customs laws and forwarded the case to Customs Adjudication for further legal action.

customs seized vehicles and goods rs.21.30 in Jan D MULTAN

IMrAN ALI

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irectorate of Customs Intelligence and Investigation Multan Range OfSice has impounded vehicles and miscellaneous goods worth Rs21.30 million during January of on-going Siscal year 2016-17.

Deputy Director Customs Intelligence and Investigation Multan Range OfSice Abdul Mueed Kanjoo carried out various anti-smuggling operations against smuggled goods and vehicles in the territory on the directions of Director General Shaukat Ali. During the above said period Customs Intelligence teams detected 12 seizure cases during anti-smuggling campaign in the Jurisdiction. There were two seizure cases of vehicles and auto parts worth Rs5 million formed in the Multan region throughout month of January in their different action.

As many as 10 different vehicles of Rs15.10 million were impounded in the month of January.

Field Intelligence Unit of Dera Ghazi Khan has formed six various seizure cases of vehicles and goods worth Rs.10.8 million in their anti-smuggling activities in January. Customs Intelligence and Investigation has enhanced mon-

itoring of the goods and vehicles at the Taunsa region to curtail smuggling. Customs Intelligence and Investigation has seized almost Rs5.50 million of vehicles and articles in their various antismuggling actions in the

Sadiqabad region to restrain smuggling in Jurisdiction. Field Intelligence Unit of Sadiqabad has captured three various vehicles including Suzuki KIA, Suzuki Swift and Toyota Corolla X during crackdown in the January.

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Tax evasion: Custom Court grants interim pre-arrest bail to suspect KARACHI: Custom Court Judge Syed Faiz Rasool Rashdi has granted interim pre-arrest bail to a suspect, Sharafatullah son of Attaullah. The suspect was booked in a duty and taxes evasion case. During the hearing, counsel for the suspect filed an application for interim pre-arrest bail and argued that the accused is innocent and was falsely implicated in this case, and that he is also ready to face trail. Therefore, the court may grant him bail till the final disposal of this case.

After the arguments, the court granted ad-interim bail to the suspect against surety bonds of Rs 200,000. The court also issued notice to the special prosecutor of the Custom Department and called police papers.

AtIr postpones tax hearing filed by M/s pak telecom Mobile till next week ISLAMABAD

NAEEM uLLAH tArIQ www.customsbulletin.com

he Appellate Tribunal Inland Revenue (ATIR) adjourned the hearing of a tax matter filed by M/s Pak Telecom Mobile Limited until next week and sought department’s reply on the matter. ATIR Account Member Dr Ghulam Mujtaba Bhatti was hearing the case challenging a show cause notice issued by the field offices of the Federal Board of Revenue (FBR). M/s Pak Telecom Mobile Limited had filed the case, challenging a show cause notice issued by the Large Taxpayers Unit, Islamabad. The company had also filed a reference against Appellate Tribunal Inland Rev-

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enue (ATIR) and had challenged it announcement before the court. The officers of the Large Taxpayers Unit were also made respondents in the case. The appellant had submitted that ATIR had maintained decision of the LTU adjudication in ignorance of law and the appellant’s submissions were not addressed completely, challenging recovery of outstanding tax amount. ATIR, Federal Board of Revenue (FBR), officers of LTU including Commissioner Inland Revenue, and others were made respondent in the case. M/s Pak Telecom Mobile Limited had prayed the court to direct the LTU not to recover the said amount and abstain from any coercive action against it. The petitioner also sought suspension of the notice until the decision of the appeal pending before the field office of the FBR. M/s Pak Telecom Mobile Limited submitted before the court that the impugned order was issued under mala fide intention and had no legal standing or authority and the court may decide on relief which it deemed appropriate in this regard.

National

customs ASo recovers rs90 million non-duty paid dry milk from Muridkay C

LAHORE

M HAYAt

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ollectortae of Customs AntiSmuggling Organization newly posted team started yielding giving positive results as it has seized mega Rs 90 million non-customs paid dry milk from a godown in a rice mill near Muridkay Collector of Customs ZulSiqar Younas told Customs Today deSinitely this was a sizable seizure, however, we are further motivated to crack down against the elements involved in illegal activities The ofSicial sources Sunday told Customs Today that on information the customs ASO observed unusual movements for about one month and after being fully satisSied they raided the godown and recovered 9000 bags of non-customs paid dry milk. It was added that each bag was containing 25 kgs of the dry milk while the case is said to be the historical one. The sources said that the milk was being supplied to the Ice cream companies and dairies.

“The milk was being illegally imported from Iran, the US, Poland, Turkey, NATO and other countries on thrown away prices and supplied

to the local market and even to the other cities like Okara, Kasur, Gujranwala,” the sources said.

The sources said that the customs authorities raided the godown on information and directions of the collector of customs ZulSiqar Younas and initially the 50 trucks of illegal dry milk were shifted to the state warehouse while more quantity was being transported to the where-

Tuesday February 14, 2017

house. He said that ASO team has been instructed to adopt zero tolerance and spare no one in bringing the wrongdoers to the book.

The sources said that the operation was conducted by superintendent, Mumtaz Ajmal Mian led by Additional Collector Nayyer ShaSiq while Assistant Collector Asim Awan and Inspector Khalid Butt and others were also part of the team.

customs Appraisement collects rs10.58b in January 2017 KARACHI

wAQAr AHMED ANSArI www.customsbulletin.com

he Customs Appraisement west collected Rs10.58 billion in the month of January 2017 against the assigned target of Rs9.18 billion. The appraisement exceeded the assigned target by Rs1.403 billion. The customs preventive collected Rs10 billon in head of duty and taxes.

According to details, the customs appraisement collected Rs10.58 billion in head of customs duty whereas collected Rs14.99 billion in head of sales tax, Rs4.92 billion in head of income tax and Rs0.16 billion in head of federal excise duty during the above said period.

Sources said that the customs appraisement west has collected Rs100.47 billion in head of duties and taxes during first seven months of financial year 2016-17.

Sources told that the customs preventive is optimistic in the increase of revenue collection in the month of February 2017 and hoped that the department will successfully achieve its target for the current financial year.

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SHc directs tax authorities to appear on next hearing

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KARACHI

M BILAL

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he Sindh High Court (SHC) has directed that if nobody appears on behalf of the Customs Department on the next hearing, instant reference application may be dismissed for non-prosecution. The court observed this on a reference application Sile by Commissioner Inland Revenue Zone-01, Large Taxpayer Unit against impugned order of the appellate tribunal for recovery of Rs 363,647 from M/s Wali Oil Mills (Private) Limited.

A two-member bench, headed by Justice Aqeel Ahmed Abbasi, was

hearing the application. During the hearing no one was present on behalf of the Custom Department, therefore, the court adjourned the hearing for March, 22, 21017 with its observation that: “No one was present on behalf of the Custom Department in spite of service of court’s notice on Chief Commissioner Zone-01, LTU Karachi, as an indulgence and last chance the matter is being adjourned for March 22, 2017, as requested by the counsel for the respondent. However, with caution that if nobody appears on behalf of the applicant on the next date of hearing, instant reference application may be dismissed for non-prosecution”.

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Thailand rice exports likely to decline 4% in 2107 Tuesday February 14, 2017

World

BANGKOK: Rice exports from Thailand, the largest world supplier after India, are likely to decline about 4 percent this year because of increased competition from Vietnam and other producers.

Exports will total 9.5 million tons in 2017,the honorary president of the Thai Rice Exporters Association, said recently in an interview. That compares with 9.88 million tons in 2016, according to data from the Ministry of Commerce. Competition from Vietnam may possibly reduce white rice exports by about 400,000 tons to 4.6 million tons.

The forecast drop in exports occurs just as the U.S. Department of Agriculture expects global rice consumption to lag behind production for the 12th straight year.

Saudi banks’ liquidity customs agents seize 3,947 pounds of weed disguised as limes squeeze eases RIYADH

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WASHINGTON

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espite it becoming easier and easier for Americans to legally consume cannabis, thousands of pounds of of weed still comes across the border. U.S. Customs and Border Protection ofSicers in Texas discovered 3,947 pounds of “alleged marijuana” inside a shipment of key limes. Even a quick glance at the “limes” would alert anyone who has ever seen a lime before that something was up. Although the seizure occurred on Jan. 30, the CBP just released information about the incident Tuesday. According to the release, CBP ofSicers at the Pharr International Bridge cargo facility found the marijuana while inspecting a tractor trailer truck. Using non-intrusive imagining and canines, the team was able to uncover 34,764 packages Silled

Saffron exports up by 37 percent n official said the volume of Iran’s saffron exports rose by 37 per cent in the first eight months of Iranian calendar year (began March 21, 2016) as compared with the corresponding period a year ago. Deputy Head of Iran’s Union of Sellers and Exporters of Saffron Gholamreza Miri described saffron market conditions as stagnant saying “exports of the product are being carried out as usual though Iran Customs Administration (IRICA) has not yet announced relevant statistics for the past two months.” He went on to state that in the eight-month period nearly 78 tons of saffron were deployed to destination markets, a figure which indicates a 37% rise in comparison with the similar period last year. Miri also reported that saffron prices had dropped by one or two per cent saying “the price for each kilogram of the one type has declined by about 30 per cent. –CB Report

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with 3,947 pounds of sticky icky.

The release says the disguised packages were “commingling” with real key limes in the shipment.

CBP says the estimated street value of the funny limes is about $789,467, which equals about $200 a pound. Considering the incredibly low price, the weed was probably either really bad, or the 3,947

pounds also includes the packaging used to disguise the packaging.

Mashable has reached out to the CBP for clariSication on the weight and street price of the seizure. The case is still being investigated by Homeland Security Investigations special agents. This isn’t the Sirst time fake food was used to disguise a shipment of weed.

russia lifts embargo, fruit, vegetable exports increase by 30%

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he lifting of the embargo issued by Russia on citrus products has been a boon for western Mediterranean exporters.

Mustafa Vardar, president of the West Mediterranean Exporters’ Association (BAİB), stated that exports from the western Mediterranean region, covering Antalya, Burdur and Isparta, had a good start in 2017, reaching $130 million in the Sirst month of 2017, a 30 percent increase compared to the same period

last year, according to Dünya daily.

Satıcı highlighted that there was an increase by half in the fresh fruit and vegetable sector’s exports after the Russian Federation opened its borders to Turkish citrus products and that the activities for alternative markets are continuing to develop. He noted that the increase in wood and forest product exports, the chemical industry and the mining sector were the architects of the increase in January. –CB Report

iquidity conditions in Saudi Arabia have eased since the third quarter of 2016 after signiSicant tightening because of falling oil prices, thus hinting at a credit positive for the funding costs of the kingdom’s banks, according to leading ratings agency Moodys.

The three-month Saudi Interbank Offered Rate (Saibor) fell below the central bank repo rate of two per cent, its lowest level since April 2016, stated Moodys in its review.

We expect liquidity pressures to moderate in 2017 compared to last year, primarily as a result of subdued credit growth, which will, however, reduce banks’ proSits, it added.

In October 2016, the Saibor reached its highest level since January 2009 at 2.4 per cent, reSlecting tougher funding conditions for banks be-

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JLg improves operating income in Q1 LG, the access equipment segment of Oshkosh Corp., posted an operating income increase of 19.2 percent to $24.4 million, or 5 percent of sales, in the Siscal Sirst quarter of 2017, compared to $20.4 million or 3.9 percent of sales in the Sirst quarter of Siscal 2016. JLG reported net sales of $489.2 million in the Sirst quarter of Siscal 2017, a 7.7-percent decline, which was primarily because of lower sales volumes in North America and Europe.

The timing of new product development spending and favorable product mix more than offset the impact of lower sales.

chinese banks emerge as global leaders

T BEIJING

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he combined value of Chinese banks has surpassed that of US banks for the Sirst time as they emerged as global leaders by asset base as well as brand value, a report by a business valuation consultancy has said. The report by the London-

based Brand Finance Banking 500 places Industrial and Commercial Bank of China as the world’s most valuable bank, with a brand value worth $47.8 billion, representing a 32% year-on-year growth, PTI reported. Marketing investment and the brand’s credibility with customers, staff and shareholders, among other factors are taken into consideration in calculating the brand value. The re-

cause of Saudi government spending cuts and payment delays, which in turn put pressure on corporate cash Slows and proSits.

This translated into a two per cent year-on-year decline in customer deposits as of September 2016, which, combined with sustained credit growth of a seven per cent year-on-year increase as of September 2016, pushed up banks’ net loan/deposit ratio to 86 per cent as of September 2016 from 77 per cent at year-end 2014. However, this trend has reversed since the third quarter of 2016 with large liquidity injections into banks following a $17.5 billion international sovereign bond issuance in October 2016 and the payment of $28 billion of overdue bills to Saudi contractors settled in the fourth quarter of 2016, which led to signiSicant loan repayments to banks. According to the Saudi Arabian Monetary Agency (Sama), banks’ liquidity conditions improved in the last months of 2016.

port said Chinese banks have an aggregate total brand value of $258 billion, accounting for 24% of the total brand value of the top 500 global banks, compared with 23% for US banks, state-run China Daily quoted the report as saying. Zhou Jingtong, division head and professor at Bank of China’s Institute of International Finance, said: “The brand value growth of Chinese banks is closely related to

Oshkosh Corp. president and CEO Wilson Jones addressed the company’s recent decision to close facilities in Ohio, Belgium and the U.K. “As part of simpliSication activities in support of the company’s MOVE strategy, we are also announcing plans to rationalize operations in our access equipment segment by consolidating our manufacturing footprint in Europe and the United States,” said Jones. “In addition, we are streamlining telehandler offerings to a reduced range in Europe to simplify our portfolio. These are difSicult actions, but we believe they are necessary to position our company. –CB Report

the continuous rise of China’s contribution to the global economy.” “During the process, the Chinese banking industry maintained steady development in various aspects, including asset growth, asset quality, provision coverage ratio and capital adequacy ratio.” The internationalization of Chinese banks, particularly in recent years, also contributed to their brand value growth, he said.

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Australia eases shrimp imports CANBERRA: The Australian Department of Agriculture and Water Resources has loosened its temporary suspension of the import of uncooked prawns and related products. According to a notice issued Monday, the department’s Director of Biosecurity has agreed to exempt certain goods from the suspension order that went into effect including dried prawns and shelf-stable prawn-based food products; irradiated bait for aquatic use; pet fish food and aquaculture feed; and uncooked prawns sourced from Australia’s exclusive economic zone (EEZ). Australian-caught prawns are not exempt if they have been exported to another country for processing, said the notice.

wind earnings up 93percent in 2016 at Dong ong Energy’s wind business has outranked the utility’s earnings from oil and gas for the first time, with pre-tax earnings (Ebitda) of DKK 11.9bn (€1.6bn) for its last financial year, almost double the previous year’s total.

Germany’s Gode Wind projects are now contributing to Dong’s wind earnings.

Germany’s Gode Wind projects are now contributing to Dong’s wind earnings. The rise in wind’s earnings is attributed to the commissioning of the 258MW Burbo Bank Extension in the UK’s Irish Sea, and completion of the 582MW Gode Wind 1 & 2 sites in Germany, after a delay in the transmission connection. “Ebitda for 2017 is expected to be split more or less evenly between wind farm operations and construction contracts and divestment gains,” stated the company’s financial report.

Dong expects to complete a 50% divestment in the 660MW Walney Extension project in 2017. “From 2021 to 2025, it is our ambition to continue the value creating expansion and to reach an installed capacity of 11-12GW by the end of 2025,” said Dong CEO Henrik Poulsen. –CB Report

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uK retail sales fall in January K retail sales fell in January, a trade group survey showed Tuesday, adding to signs that Britons may be starting to watch their pennies amid rising inflation. The British Retail Consortium said that like-for-like sales, a measure which strips out changes in the number of retailers and floor space, fell 0.6% on the year in the four-week period from Jan. 1 to Jan. 28. Total sales rose by merely 0.1% compared with the same period last year, the BRC said. Both readings were significantly weaker than the previous month, when they stood at 1.0% and 1.7%, respectively. “These figures suggest that ‘caution’ was top of new year shopping lists,” said Helen Dickinson, the BRC’s chief executive.

Official data showed that retail sales in December fell at the fastest monthly pace in almost five years. –CB Report

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World Customs

german customs seizes 1,580 pounds cocaine from caribbean

BERLIN

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ustoms ofSicials in the German port of Hamburg say they have seized 717 kilograms (1,580 pounds) of cocaine, which they estimate would have produced drugs with a street value of 145 million euros ($156 million).

The head of the Hamburg customs investigation ofSice, Rene Matschke, said Friday that the cocaine the largest single seizure of the drug in Germany to date had a very high degree of purity, news agency dpa reported. It was seized

on Jan. 18 after it was found in a shipping container from the Dutch Caribbean island of Curacao.

Matschke said that an international gang was behind the cocaine shipment and that there was a hostage-taking linked to the drugs in the Netherlands on Monday.

Packages of cocaine are on display at the customs ofSice in Hamburg,, Germany, Friday, Feb. 3, 2017.

A container carrying 717 kilograms (1,580 pounds) of cocaine which they estimate would have produced drugs with a street value of 145 million euros ($156 million), was seized in the Port of Hamburg. The director of the customs investigation ofSice says it may be the largest amount of cocaine to have ever been

seized in Germany. It was seized on Jan. 18 after it was found in a shipping container from the Dutch Caribbean island of Curacao.

A custom investigator examines a package of cocaine that is on display at the customs ofSice in Hamburg,, Germany, Friday, Feb. 3, 2017. A container carrying 717 kilograms (1,580 pounds) of cocaine which they estimate would have produced drugs with a street value of 145 million euros ($156 million), was seized in the Port of Hamburg. The director of the customs investigation ofSice says it may be the largest amount of cocaine to have ever been seized in Germany. It was seized on Jan. 18 after it was found in a shipping container from the Dutch Caribbean island of Curacao.

Tuesday February 14, 2017

canada must not become a tax haven he rich, as we well know, are different from you and me. They’ve got more money plus a vast army of bankers, lawyers and tax experts to make sure they keep as much of it as possible out of the clutches of governments. The Panama Papers, a massive leak of documents from the Panamabased law firm Mossack Fonseca, gave a detailed look at tax avoidance and evasion around the world. It showed how the global elite stash vast wealth away in tax havens, manipulating laws to avoid paying hundreds of billions of dollars in tax each year. When the Panama Papers were revealed last year as part of a project coordinated by the International Consortium of Investigative Journalists, including the Star, the focus was on tax-friendly jurisdictions like Switzerland, Luxembourg and various sunny isles in the Caribbean. Now it turns out we don’t need to look nearly so far. In a series of articles based on more documents from the 11.5 million in the Panama Papers trove, the Star’s Robert Cribb and Marco Chown Oved have shown that Canada, of all places, “is quietly emerging as a popular tax haven for the global elite.”

Those in the know apparently call it “snow washing” – taking advantage of Canada’s stellar reputation to make dodgy financial transactions look legitimate. Central to this practice is the fact that the way companies are registered in Canada. –CB Report

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canada’s economy can thrive in automated future

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OTTAWA

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n 2017, the United States government will attempt to revive industrial jobs from the 20th century and we in Canada might be tempted to follow suit. Employment in manufacturing and resource extraction continues to decline even though a majority of the companies in the Toronto Stock Exchange Composite Index still belong to those sectors. Yes, it’s frus-

trating that these companies represent so much of Canada’s economic value yet employ fewer and fewer people. But no, they cannot revive jobs that technology is automating out of existence.

Rather than resist innovation, Canada should lead it. We can build an innovation ecosystem that replaces the industrial jobs of the past with the high-tech jobs of the future.

As a Sirst step, we need to develop technologies that maximize the value of our natural resources. Innovation in resource extraction and

robotic manufacturing can amplify Canada’s strengths and turn us into a net exporter of technology. We must act quickly though because automation is imminent. The McKinsey Global Institute reports that “currently demonstrated technology” can automate nearly half the activities people are paid $16 trillion in wages to do. In jobs with “predictable physical activities,” the potential for automation is highest.

Based on today’s technology, McKinsey estimates that manufacturing is 60 per cent automatable while

mining is 51 per cent. In other words, manufacturing and resourceextraction businesses are poised to cut jobs in half, not add them.

At the recent World Economic Forum in Davos, Switzerland, the consequences of job automation were a reoccurring theme. Tech executives are already contemplating a universal basic income and other ways to mitigate the inequalities automation will produce. Their sensitivity is encouraging, but Canada cannot bet its future on the beneSicence of foreign tech companies.

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FIA arrests two for selling spurious and expired medicines Tuesday February 14, 2017

Lahore

LAHORE: The Federal Investigation Agency (FIA) officials have arrested an accused for allegedly making obscene videos of minor boys.

The accused, identified as Nabeel, allegedly supplied drugs to schools and colleges of Lahore.

He was allegedly making the videos of young students who had consumed the drugs.

The FIA has shifted him to an undisclosed location for further investigations.

Meanwhile, The Federal Investigation Agency has arrested two accused and recovered spurious and expired medicines from three medical stores near Services Hospital.

NAB providing training to prosecutors on modern lines: Qamar LAHORE

M IMrAN MEHAr

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hairman National Accountability Bureau Qamar Zaman Chaudhry, chaired a meeting to review progress on the basis of feedback regarding Training of Trainers (TOT), Refresher and Capacity Building courses conducted for NAB Investigation OfSicers/Prosecutors in 2016 and training planned for the year 2017 at NAB Headquarter.

During the meeting, DG Training and Research (T&R) informed that a Training of Trainers (TOT) Course of 5 days duration was conducted at NAB HQ and 18 ofSicers from BS-1819 attended the course. He informed that 4 refresher courses of two week duration for IOs/COs were con-

customs court adjourns case of cell phone smuggler he Special Federal Court of Customs Taxation and Anti-Smuggling has adjourned the hearing of mobile phone smuggling case. Earlier, the court had approved extension in judicial remand of an accused detained by the customs authorities deputed at Allama Iqbal International airport while he was making an attempt to smuggle cell phones from China to Lahore. The investigation and prosecution team of Customs had produced the accused Naveed Bhatti before the special court and asked for physical remand of five days to investigate further regarding smuggling and other persons involved in his smuggling attempt. After completion of physical remand, the court sent him to jail for judicial trial that is extended again for 14 days. As per sources of Customs Today Naveed Bhatti was arrested by the Customs Preventive when they seized 170 android mobile phones of assorted types from his luggage at Lahore airport. – M Imran Mehar

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ducted in 2016 in which 529 Investigation OfSicers/Case OfSicers attended. He informed that two refresher courses for Prosecutors were conducted of two week duration in 2016 in which 67 Prosecutors attended. He informed that three Inter-Regional Trainings were planned during 2016 of one week duration in which 87 ofSicers/IOs/COs attended the training.

He further informed that six Capacity Building Courses for officers/Investigation Officers/Case Officers were conducted of two days duration in 2016 and 28 in Land Training Courses were availed in collaboration with Foreign Agencies i.e. Australian Federal Police, British High Commission, Asian Development Bank, ICITAP & OPDAT and UNODC during 2016. 125 NAB officers from Regional NAB’s attended these training courses in 2016.

chief collector opens free dispencary for class 4 staff

LAHORE

M HAYAt

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hief Collector of Customs Central Region Samara Nazir has inaugurated free dispen-

regional tax office-II selects 13,975 cases for audit of year 2015

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he Regional Tax OfSice-II (RTOII) of the Federal Board of Revenue (FBR) has selected 13,975 cases for the audit of year 2015 under section-214C of the Income Tax Ordinance, 2001. Both corporate and non-corporate cases from all zones are selected for the audit. According to details, these cases are selected after initial scrutiny of income tax returns. However, Okara withholding tax zone is not included in the audit process.

The FBR selected 907 cases from

zone-I including 866 non-corporate and 41 corporate cases. From zoneII, 4,353 are selected. All cases are non-corporate and no corporate case is selected for audit from zoneII. The FBR also selected 805 noncorporate cases from zone-III, 4228 cases from zone IV, 2,029 cases from zone-V and 1,553 cases are selected from Okara from corporate and noncorporate zones. Chief Commissioner RTO-II has already sent details in all relevant zones and seeks conSirmation of data. –Sajid Nawaz

sary for the class 4 staff of the Customs Appraisement for free medication of the customs staff and their families. The Collector of Customs Appraisement and a number of other customs ofSicials including Additional Collector Munib Sarwar, Collector Jamil Nasir and other were present on the occasion.

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Earlier, Chief Collector of Customs Central Region Samaira Nazir Khan opened Customs House dispensary at the Customs House. The dispensary was set up for the class four staff and Collector of Customs (Appeals) Dr Asif Mehmood Jah has been voluntarily extending health services for the staff of the House.

The chief Collector of Customs was of the view these days people are confronted with a number of health issues, including blood pressure and stresses. Class four staff and their families would be the main beneSiciaries of the Customs House dispensary, she informed.

Meanwhile, Customs Central Region has collected Rs75.056 billion all duty and taxes during (July-January) of current Sinancial year 2016-17. AS per details, Customs Appraisement collected Rs35691 million during the Sirst seven months of the Sinancial year 2016-17 against the collection of Rs38816 million during the same period of last Sinancial year.

customs Appellate tribunal hears 10 cases

he division bench-II of the Customs Appellate Tribunal comprising Judicial Member Omer Arshad Hakeem and Technical Member Imran Tariq heard 10 cases and adjourned all the cases until the next hearing.

According to details, the Customs Appellate Tribunal adjourned the hearing of 10 cases, including customs Sambrial versus M/s Saeed Mahmood, M/s Awais and Shoaib versus Post Clearance Audit Lahore, M/s Baz Muhammad versus Directorate of Intelligence and Investigation Lahore, M/s Muhammad Shahban versus Customs Faisalabad.

Reportedly, on Wednesday, the tribunal heard cases of M/s Abdul Ali versus Directorate of Intelligence and Investigation Lahore, M/s Aboot Khan versus Directorate of Intelligence and Investigation Faisalabad, M/s Kashif Malik versus Customs Multan and M/s Amin Khan versus Customs Lahore.

Sources said that the tribunal heard M/s Khalid Mehmood versus Directorate of Intelligence and Investigation Lahore and M/s Raza Ali Shah versus Directorate of Intelligence and Investigation Faisalabad and Customs Faisalabad versus M/s Muhammad Amin. –Sajid Nawaz

customs impounds rs10m BMw from wahadat road

D LAHORE

M HAYAt

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irectorate of Custom Intelligence and Investigations(I&I)Lahore has seized Rs 10 million illegally imported red BMW Jeep including duty and taxes worth Rs 6 million from Wahadat Road. Sources said that on a tip off

the customs anti-smuggling team on the directions of Director Customs Intelligence and Investigation Zeba Hai Azhar intercepted a applied-for BMW jeep and conSiscated upon Sinding that the owners have illegally imported the vehicle. The sources said that as soon as the customs authorities intercepted the vehicle the owner slipped away.

However, the customs authorities

under the supervision of Deputy Director Ali Zeb Khan after impounding the vehicle has started further investigations in to the case.

The sources said that new brand BMW was playing on a road near Wahdat Road without the customs clearance documents and the timely operation against the vehicle enabled the authorities to seize the vehicle.

OfSicial sources told Customs Today

that the Director Zeba Hai Azhar has ordered its anti-smuggling team to undertake crackdowns against the elements involved in the crime of damaging national economy for their own limited and vested interests. It was added that on the direction of the Deputy Director Ali Zeb Khan has launched an aggressive campaign against the illegally and non-med that customs paid vehicles.

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US Consul General visits Port Qasim KARACHI: The US Consul General in Karachi, Grace Shelton, visited Port Qasim and saw the impressive port operation first hand, says a US Consulate statement issued on Wednesday.

It said that during this trip she also met with country representative for American company Excelerate, Mohammed Rajpar, and the Engro elengy Terminal Manager, Amir Mahmud, to learn about the operation of Pakistan’s first LNG terminal – a U.S.- Pakistani partnership.

“Excelerate’s and Engro’s state-of-the-art LNG terminal, supplying 15% of Pakistan’s gas requirement, is impressive,” said U.S. Consul General Grace Shelton.

“These amazing contributions demonstrate the United States’ continued support to Pakistan’s energy sector and economic development”, she further remarked.

Haifa port handles it largest ship aifa Port’s Carmel Terminal, Israel, has received a call by the largest ship ever docked in the country. The 13,092 teu Maersk Elba links ports in South Korea, China and Singapore to Haifa Port, continuing from there to the Adriatic ports as part of a weekly service operated by the 2M Alliance, which includes Maersk and the Mediterranean Shipping Company (MSC). As part of a series of investments carried out to be able to handle bigger ships, the port’s Carmel Terminal recently received five new cranes, including two ship-to-shore (STS) cranes manufactured by Kocks Cranes. The units, which are able to handle 21 containers across, joined six existing STS cranes at the terminal. At the terminal, the Maersk Elba was served by four STS cranes with an average productivity of 136 containers per ship hour. Additionally, three new rail-mounted gantry (RMG) cranes from Konecranes became

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operational in the storage area in January this year, for a total of 15 RMGs at the terminal. Recent investments at Haifa Port also included the adoption of a Navis terminal operating system (TOS). According to a statement by the port’s operating company Haifa Port, the government’s port development arm Israel Ports Company recently deepened the water by the Carmel Terminal to enable larger ships to “reach their maximum draft, or very close to it”.

However, as the statement noted, “the next generation of ships, in the order of 18,000 teu and above, will not be able to call in Israel during the next few years”. Haifa Port’s CEO Mendi Zaltzman said: “It is important to remember that these massive [14,000 teu) ships are being serviced at a dock that was originally built to accommodate ships of up to only 6,000 teu.”–CB Report

Ports & Shipping

Tuesday February 14, 2017

port jobs include 326 hospitality positions

port director confident of meeting jobs requirement

GULFPORT

he director of Mississippi’s port authority says the port of Gulfport has created 425 of the 1,300 new jobs required in exchange for $570 million in federal assistance granted after Hurricane Katrina. Jonathan Daniels discussed the progress Tuesday at a Gulfport Chamber of Commerce meeting.

The Sun Herald reports (http://bit.ly/2kdZqOI) that the federal money has been used since 2008 to restore and expand the port’s West Pier.

The project, previously scheduled to be finished in the first quarter of 2017, is one year behind schedule. Daniels, who came aboard as director three years ago, after the project was well underway, told the Sun Herald construction delays are to be expected at the century-old port. The port’s mainstay tenants, he said, have been accommodating about continuing operations during construction. Under Daniels’ leadership, a number of new tenants have come aboard and the port has expanded into the oil services business. –CB Report

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ort Director Jonathan Daniels is touting a total of 425 jobs created at the Port of Gulfport, which received $575 million in HUD grant money for an expansion several years ago. However, 326 of those new jobs are people who work in non-gaming positions at Island View Casino.

The Mississippi Development Authority says the jobs created at Island View count for the multi-million dollar project because the casino is a port tenant. The 326 jobs created at Island View Casino are hospitality jobs for people who work in the stand-alone hotel south of Highway 90.

Meanwhile, WASHINGTON: COSCO SHIPPING Holdings Co., Ltd., a subsidiary of state-run ocean carrier China COSCO Shipping Corp., said in a notice Siled with the Hong Kong Stock Exchange that it expects to record a net loss attributable to equity holders for 2016 of approxi-

mately 9.9 billion Chinese yuan renminbi (U.S. $1.4 billion) in contrast to the 283 million yuan renminbi (RMB) proSit it recorded for 2015.

However, the company did say that in 2016, it “had gradually achieved synergies generated from its business restructuring, and the performance of the group signiSicantly improved on a quarterly basis.” COSCO SHIPPING Holdings does expect to have earnings before interest and tax (EBIT) of approximately 700 million RMB for the fourth quarter of 2016

“without taking into account the net loss incurred by demolition of vessels.” The company said that in 2016, “With slow growth in global container shipping demand and oversupply of shipping capacity, the international shipping market still lacked solid improvement in addressing the imbalance in supply and demand.” In addition, COSCO SHIPPING Holdings noted how the Baltic Dry Index for dry bulk ships, along with the Shanghai Containerized Freight Index and the China.

Algeria approves deep-sea port T

WASHINGTON

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he government of Algeria has reportedly approved construction of a new deep-sea port 80 kilometers (50 miles) west of the capital Algiers to be Sinanced with loans from China and the African Development Bank, or AfDB. Plans for the facility at El Hamdania were drawn up in December by Algeria’s Laboratoire des Etudes Maritimes with South Korea’s Yooshin engineering corporation. The total cost of the project is expected to be around $3.3 billion. The plans consist of a 23-berth facility with a 20meter (66-foot) alongside draft and eventual capacity of up to 27 million-tonnes-per-annum. Two industrial zones covering 2,000 hectares (4,942 acres) are to be built next to the new port. The El Hamdania port outside Algiers will help Algeria di-

versify its economy away from oil.

China Harbour Engineering and China State Construction Engineering have been linked to the project and local media said the two Chinese state companies will take a 49 percent stake while the controlling stake will be held by the Algerian Port Authority. The reports said Sinancing will be provided by a consortium of Chinese banks together with funds from a newly secured loan from AfDB. The AfDB signed an agreement with Algeria at the end of 2016 for a $900 million loan facility.

At the time, the bank the loan was to support the country’s industrial and energy competitiveness and “to offset the drop in its revenue due to the sharp fall in oil prices”. Oil and gas accounts for over 90 percent of Algeria’s export revenues and the low oil price has hit state Sinances hard. This has led the government to put more focus on measures to di-

versify the country’s economic base.

“The decline in the price of oil has created a lot of difSiculties for many oil exporting countries, and has had an impact on their balances of payment and budgets,” said Kapil Kapoor, an acting vice president with the bank. Construction work on the new port is scheduled to begin in March and the Sirst berths are due to be operational by 2021. When operational, the facility is expected to compete for transshipment trafSic with Morocco’s Tanger Med port and southern European ports such as Algeciras in Spain and Gioia Tauro in Italy. A concurrent project to upgrade a highway linking El Hamdania to Algeria’s southern border would also enable the port to complete with West African ports to serve landlocked countries in the region.

Meanwhile, The CMA CGM vessel Pointe des Colibris is called at the Belgian New Fruit Wharf (BNFW) termi-

nal in Antwerp on Wednesday 1 February carrying among other things bananas from Suriname. These will be distributed via the port of Antwerp to the local market and to surrounding countries. The owner of the bananas is FAI, fruit partner of Greenyard, the world market leader in fresh and prepared vegetables and fruit, based in Sint-Katelijne-Waver (Belgium). For carrying the bananas Greenyard has signed a new contract with the CMA CGM shipping company, with one of the crucial factors being the direct call at the BNFW fruit terminal in Antwerp. A direct call like this reduces the throughput time in the logistics chain, which for perishable goods such as fruit and vegetables is naturally very important. The arrival of CMA CGM represents the third container reefer carrier for BNFW, after Maersk and Hamburg Süd, both of which have opted for a direct service to Antwerp during the past two years or less.

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Sialkot Customs impounds non-duty paid Toyota Hilux Surf SIALKOT: Customs Intelligence and Investigation Department Gujranwala Region has impounded a non customs duty paid Toyota Hilux Surf worth Rs 2 million at Kamokey Check post during vehicle checking.

According to details, deputy director Customs Intelligence Gujranwala Region Ali Zeb Khan ordered Assistant Director Itrat Hussian constitute team to check vehicles on GT Road under the campaign to impound non customs duty paid vehicles.

Tuesday, February 14, 2017

CUSTOMS BULLETIN

post clearance Audit recovers rs287.254 million in January KARACHI AftAB cHANNA

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irectorate of Post Clearance Audit (PCA) Karachi has detected duty/tax evasion and short payment of Rs 287.254 million during the month of January 2017 by various companies and traders. Sources told Customs Today that the directorate has showed outstanding performance during January 2017 and detected 42 cases involving Rs 287.254 million.

Sources said that Post Clearance Audit detected cases pertaining to short payment of customs duty and sales tax/WHT because of inadmissible concessions; short payment of anti-dumping duty, additional sales tax, FED and income tax.

During the month of January, PCA Karachi served Audit Observations and Contravention Reports on various importers for evading government revenue. It is necessary to mention here that on the directives of Director Gul Rehman, Deputy Director Sajid Baloch, Appraising OfSicer Taha Shaikh made a record performance in this month. Sources said that PCA is using all available resources to recover outstanding amount from defaulters.

Dg customs issues reference values of virtual reality glass KARACHI

wAQAr AHMED ANSArI www.customsbulletin.com

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irectorate General of Customs Valuation has issued the reference values of plug wrap paper and non-cellular rubber sheets.

This Directorate General has initiated an exercise to develop database values for different items wherein it has been observed that declarations are of

wide range and do not correctly reflect values of the items as traded in the international market. During the scrutiny of previous clearance data, it has been observed that plug wrap paper falling under PCT headings 4813.2000 are being assessed at different values and certain transactions are on very low side.

The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market sur-

veys. This office, therefore, has found that the customs values of Plug Wrap Paper of Indonesia origin is US$1.85 per kilogram.

Meanwhile, Directorate General Valuation after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. Directorate General Valuation therefore, has found that the customs values of non cellular rubber sheet of China origin is US$0.80 per kilogram.

These values are, however, for reference/guidance only and Sinal assessment may please be made after considering other factors which have bearing on the customs value. The clearance Collectorates may like to consider the values given above before Sinalizing the assessment of the subject items. If further Sine-tuning in speciSications and ensuing values are required Collectorate may forward a reference along with detailed justiSications and work – etc so that requisite adjustments are accordingly issued. The Directorate General of Customs Valua-

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tion has revised the customs value of washing machines through Valuation Ruling No 1026/2017 under Section 25A of the Customs Act, 1969. According to details, Customs values of washing machines were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.241/2010, dated 01-04-2010.

The Valuation Ruling required revision in line with the prevailing prices in the international market.

Therefore, the Directorate General initiated an exercise for determination of customs values of washing machines.