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Karachi, Fri February 16, 2018

KARACHI

MUBEEN HUSSAIN

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he Federal Board of Revenue (FBR) has submitted a detailed report in the Supreme Court about the Pakistanis who have stashed their wealth abroad. The board also informed the court about legal obstacles in bringing the money back to Pakistan. According to the re-

port submitted in Supreme Court, the FBR stated that it has been successful in collecting CNICs of all the 38 individuals identified in Paradise Leaks. The data is being utilized by field formations for further investigations. The court was also informed that the FBR had requested the Securities and Exchange Commission of Pakistan (SECP) to provide it the copies of memorandums, articles and financial statements of local companies in which these individuals were directors or shareholders. The

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FBR also requested the State Bank of Pakistan (SBP) and Financial Monitoring Units (FMU) to obtain details of bank accounts and other financial record of these individuals while the FBR requested the Federal Investigation Agency (FIA) to obtain travel history of the Pakistani nationals named in Paradise Leaks. A list of 100 Pakistani individual, who have allegedly purchased properties in Dubai/UAE, was received in the FBR from the Director, Economic Crimes Wing. Federal Investigation Agency (HQ) which was forwarded to the Head of EOI Unit, Ministry of Finance, UAE by the Board on 16.11.2017.

Customs Islamabad impounds items valued at Rs150 million

DG Valuation to revise customs values of Duplex Board on March 12

Customs Preventive posts 24 pc growth in duty, taxes

NAB to probe into charges against Punjab’s anti-corruption DG

Customs Quetta frustrates smuggling attempt of various auto items & powder

ASO Islamabad seized worth Rs150million of smuggling goods | SEE pAgE 02 |

DG Valuation, has decided to revise the VR No: 722/2015 on March 12 | SEE pAgE 03 |

Customs Preventive has collected Rs4024 million all duty and taxes | SEE pAgE 04 |

NAB authorised an inquiry against DG Anti Corruption Punjab over the allegation | SEE pAgE 14 |

Customs I&I has foiled a bid to smuggle diﬀerent items including black plastic Dana | SEE pAgE 16 |

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Customs Car Cell impounds Land Cruiser on secret information Friday, February 16, 2018

Islamabad

ISLAMABAD: The Customs Car Cell took into possession an NDP Toyota Land Cruiser jeep from Islamabad on of February 2017-18. According to details given by Majid Hussain Gadd, Assistant Collector Car Cell, that, on a tip-oﬀ shared by Zulﬁqar Ali Chaudhry, Collector Model Customs Collectorate Islamabad, the Customs Car Cell impounded the used Toyota Land Cruiser priced at Rs8million.

customs impounds oﬀending truck & smuggling items on tip-oﬀ

ISLAMABAD

cUStoMS BULLEtIN rEport

tArIQ DErYA

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pecial Assistant to the Prime Minister on Revenue/Federal Minister Haroon Akhtar Khan has called for re-doubling of eﬀorts to strengthen business-to-business partnerships and forge new collaborations between Pakistan and Germany. Pakistan is an ideal market with vast opportunities for investment in many sectors of the economy and the German investors should benefit from our pro-investment and business-friendly policies to make healthy returns on their investments,” he said while talking to His Excellency Martin Kobler, Ambassador of Federal Republic of Germany to Pakistan, who met the Minister along with representatives of the German-Pakistan Chamber of Commerce at FBR House. Haroon Akhtar Khan appreciated the ongoing local German investment and business initiatives in Pakistan and hoped the number of German companies engaged in business in Pakistan would grow considerably in the coming days given a vast improvement in the law and order and security situation in Pakistan. He also briefed the envoy on the sacrifices rendered by the Pakistani nation and its military and para-military forces for eradicating the evil of terrorism and contributing to the regional security.

he Anti-Smuggling Organization (ASO) Islamabad took into possession Indian black tea along with other various foreign origin smuggling goods including an offending vehicle from Rawalpindi territory on 8th of January 2018. According to details explained by Assistant Collector, ASO Islamabad, Majid Hussain Gadd while talking with Customs Today that, on a tipoff shared by Dr. ZulOiqar Ali Chaudhry, Collector Model Customs Collectorate (MCC) Islamabad, that an attempt of smuggling of Indian goods is expected via GT Road Rawalpindi. The Assistant Collector told CT that, after getting the said secret information, the ASO squad formed a picked near Railways Carriage Factory (Rawalpindi) and intercepted a Mazda truck bearing registration No: LES-5115 which was coming from Chakohi (Kashmir). Gadd intercepted the offending vehicle.The ASO staff asked the possessor to show the required documents but he failed to produce any evidence, documentary or otherwise. The impounded smuggling items consisted of Indian origin tea weighed 780kg, Poland made dried powder milk weighed 375kg, foreign origin dried skimmed milk weighed 500kg and 125kg of BOP movies. The customs staff, partici-

Haroon seeks strong business ties with germany

pating in above said seizure, includes Superintendent Sohail Kureishi and Ahmad Junaid, Inspector Javed Masood and other staff of class IV. An FIR has been registered under the customs bylaws and investigation is undeway. Meanwhile, The Customs Car Cell took into possession an NDP Toyota Land Cruiser jeep from Islamabad of February 2017-18. According to details given by Majid Hussain Gadd, Assistant Collector Car Cell, that, on a tip-off shared by ZulOiqar Ali

Chaudhry, Collector Model Customs Collectorate Islamabad, the Customs Car Cell impounded the used Toyota Land Cruiser priced at Rs8million. Assistant Collector told Customs Today that the Special Car Cell got secret information that a non-dutypaid used Toyota Land Cruiser, bearing registration No: BD-4397 Sindh having chassis No: UZJ1000154908, is parked on a road of Islamabad. The staff of the Special Car Cell rushed to the spot and found the vehicle parked on the road. The

driver of vehicle Oled the scene leaving the car abandoned. The Car Cell team physically examined the vehicle and tallied with the record of import, Amnesty Scheme 2013 and auctioned vehicles but the vehicle existed nowhere in the data. As per ETO MRA Islamabad, registration No: BD-4397 Sindh was allotted to another Toyota Land Cruiser having different chassis number. The vehicle was impounded as unclaimed under Section 17 of Customs Act-1969.

customs Export does extra value of rs1044m business

ISLAMABAD

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he Customs Export Section at the BBI Airport Islamabad did an extra value of business of Rs1044million during the month of January FY17-18 against the month of corresponding FY2016-17. According to details given by sources of Customs Export Section Islamabad that the Export

Section earned the export business of Rs2819million during January Financial Year (FY) 2017-18 while it received the export business of Rs1775million during the previous FY16-17. Sources told CT that the Export Section achieved 58.79% growth during January FY17-18 against the corresponding FY16-17. The Export Section entertained 20,582 Goods Declarations (GDs) during first seven months (July to January) FY17-18 while it generated the

export business of Rs21274.65million during first seven months of FY17-18. The sources notified CT that the Customs Export Section did the export business of Rs10254million during 2nd Quarter (October to December) Fiscal Year 2017-18. The Export Section earned Rs2053.56million during 2nd quarter FY17-18 against the export value of 1st quarter (July to September) FY17-18. During 2nd Quarter FY17-18, the Export

Section processed 17,730 Goods Decelerations (GDs) and got the business of Rs8200.44million during the first Quarter FY17-18. The exports are flourishing at the Export Section of Islamabad during first six months (July to December) FY17-18. During 1st Quarter FY17-18, the popular exports were of fresh chilled meat, vegetables, surgical goods, leather goods, textile fabrics and a little amount of small consignments of different other

items. Explaining the comparative performance between 1st Quarter 2017-18 and 2016-17, the sources told CT that, during the month of September FY17-18, the Export Section recorded 38.17% growth with the extra value of Rs860million against the previous FY16-17. During September FY17-18, the Export Section earned the business of Rs3112.14million while it did the business of Rs2252.33million during FY2016-17.

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M/s Floorissa Tiles moves SHC challenging Valuation Ruling No 874/2016 KARACHI: The Sindh High Court (SHC) has issued notices to the Customs Department and deputy attorney general on another constitutional petition ﬁled by M/s Floorissa Tiles, challenging determination of customs values of “ceramic and porcelain tiles” over and above 12.5 percent of the Valuation Ruling No 874/2016 issued by Director General of Valuation. A two-member bench, comprising Justice Munib Akhtar and Justice Omer Sial, heard the petition. Earlier, counsel for the petitioner stated that it is engaged in import and trade of goods having description “ceramic and porcelain tiles”. I

fBr ‘to recommend’ amendments in law to deal with pending audit cases

Friday February 16, 2018

Karachi

Dg Valuation to revise customs values of Duplex Board on March 12

KARACHI

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ederal Board of Revenue (FBR) is likely to recommend amendments into a law related to auditing of non-filers as it faces capacity constraint to handle burgeoning audit cases, official said. The officials said the FBR is revisiting automatic selection of audit as there is a huge pendency of audit cases which have ballooned to above 600,000. The introduction of annual audit policy, which was to be launched in November 2017, was also delayed due to pendency of cases, they added. “The FBR may recommend amendment to the ordinance through Finance Bill 2018 to either withdraw or put a threshold for automatic audit selection,” a source in Regional Tax Office.

overseas pakistanis remit $11.4b in seven months KARACHI

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verseas Pakistani workers remitted $11383.47 million in the first seven months (July to January) of FY18, showing a growth of 3.55% compared with US $10993.48 million received during the same period in the preceding year. During January 2018, the inflow of workers’ remittances amounted to $1638.72m, which is 4.92% lower than December 2017 and 10.10% higher than January 2017, says a press statement by State Bank of Pakistan. The country-wise details for the month of January 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $383.91 million, $351.58 million, $223.94 million, $235.1 million, $186.33 million.

KARACHI

wAQAr AHMED ANSArI www.customsbulletin.com

irectorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 722/2015 on March 12, 2018, it is learnt. According to the details, Director General Surriya Butt has said that the department was reviewing suggestions from various importers to set new prices of one site coated Duplex Board grey back and other than gray back in sheets. She said that some valuations, which were issued in 2015, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in the international market. Sources told that a petition was submitted by the importers to Customs Valuation in which change in prices one site coated Duplex Board grey back and other than gray back in Sheet was requested. Sources told that Valuation Ruling No: 722/2015 was issued on February 17th, 2015. A meeting was held with the stakeholders on Thursday 1st February 2018. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascer-

tained. Meanwhile, Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 713/2015 on March 26, 2018, it is learnt. Director General Surriya Butt has said the department was reviewing suggestions from importers to set new prices of energy drinks HS Code 2202.1010. She said some valuations, issued in 2015, were being reviewed from the be-

Moreover, the valuations will be set in view of rising prices in the international market. Sources told that a petition was submitted by the importers to customs Valuation in which change in prices one site coated Duplex Board grey back

SrB collects record rs 9.5 billion sales tax

KARACHI

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indh Revenue Board (SRB) has collected a record amount of Rs 9.5 billion as Sindh sales tax on services during the month of January, 2018, as compared to the collection of Rs 6 billion made during the corresponding month of January, 2017, thus representing a tremendous growth of 58 percent.

A statement on Thursday said that the growth was achieved as a result of relentless efforts made by officers of the SRB on account of the recovery drive and payment of arrears of tax. With this achievement during January, 2018, the total collection of Sindh sales tax during the first 7 months of 2017-18 amounts to Rs 47.3 billion as compared to the collection of Rs 40.4 billion during the corresponding 7 months of 2016-17, thus representing

growth of 17 percent. It is pertinent that the standard rate of sales tax on services in Sindh is 13 percent, which is the lowest standard rate of sales tax in Pakistan. Sindh Revenue Board acknowledges the active and positive cooperation of the taxpayers in enabling SRB to report the aforesaid achievement and assures to continue its cooperation facilitation and assistance to its worthy registered taxpayers.

ginning. Moreover, the valuations will be set in view of the rising prices in the international markets. Sources said that a petition was submitted by the importers to Customs Valuation in which change in prices of Energy drinks HS Code 2202.1010 was requested. Sources further said the Valuation Ruling No: 713/2015 was issued on February 2, 2015. A meeting was held with the stakeholders on January 30, 2018.

SHc to decide vehicle ownership on March 19 indh High Court has fixed March 19 to decide the ownership of a vehicle claimed by an appellant. The Customs appellate bench was hearing a Special Customs Reference Application filed by one Liaquat Ali represented by Ms Dil Khurram Shaheen advocate. The intervener moved the claiming ownership of the vehicle in dispute.

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FIA summons 10 ex-associates of MQM’s charity Friday February 16, 2018

Lahore

KARACHI: The Federal Investigation Agency (FIA) has summoned 10 former associates of MQM’s charity organization Khidmat-e-Khalq Foundation (KKF) in an alleged money laundering case. According to Geo News, the FIA’s anti-terrorism wing issued summons to Dr Sageer Ahmed, Kamal Siddique, Rafiq Rajput Mohammad Shahid, Mohammad Zubair, Mohammad Tahir, Kaif-ul-Wara, Manzoor Ahmed, Rauf Mughal and Mohammad Imran. The FIA suspects that the leaders had been collecting funds through extortion and ‘China cutting’ and laundering money to UK through KKF accounts.

fto directs to conclude arguments on appeal filed by pakistan Mineral processing LAHORE

SAJID NAwAZ

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he Federal Tax Ombudsman (FTO) heard appeal Oiled by proprietor of M/s Pakistan Mineral Processing against Corporate Regional Tax OfOice (CRTO) until the next date. FTO also sought relevant details to decide the case. According to the details, FTO consultant Mian Munawar Ghafoor heard the case in which the counsel for the appellant argued that the Corporate Regional Tax OfOice (CRTO) had failed to release the tax refund of the last two years claimed by the company. He said that the RTO collected excessive tax during the last two years. He approached the commissioner concerned many times for issuance of refunds but the CRTO of-

pakistan and canada to hold bilateral trade talks akistan and Canada will hold trade dialogue on Monday that is aimed at promoting bilateral trade, between the two countries to its true potential. Commerce Minister Pervaiz Malik, who is on the visit to Canada at the invitation of his Canadian counterpart, is scheduled to meet with Minister of International Trade Francois-Philippe Champagne to discuss all trade related issues. The current volume of bilateral trade has increased by 133% during the last three years from C$ 732 million in 2013 to C$ 1.8 billion during the last year. Both sides recognize that there exists a huge potential for enhancing the existing bilateral trade. Besides meetings with Canadian Minister of Agriculture, Lawrence MacAulay and Minister for Immigration Ahmed Hussen, at Ottawa, the commerce minister is also expected to meet with the Canadian investors and businessmen at Montreal and Ontario Chamber of Commerce at Toronto. –CB Report

Oicials did not pay the refunds after the passage of reasonable time. At the end, the company decided to approach the FTO, seeking interference in this case. The counsel appealed the FTO advisor to direct the CRTO to clear the refund claims. The counsel further said that CRTO should refund the excess collection in wake of taxes by the end of Oinancial year but the situation is quite otherwise. Delay in issuance of refunds put burden on the taxpayers, he said, adding that the CRTO Lahore should make audit of the cases and release the extra amount collected by it from the taxpayer. After hearing the arguments from both sides, FTO advisor adjourned the case of Proprietor Pakistan Mineral Processing until next date for further hearing and directed the parties to appear on said date to present arguments in the case.

customs preventive posts 24 pc growth in duty, taxes

LAHORE

M HAYAt

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ollectorate of Customs Preventive has collected Rs4024 million all duty and taxes during the month of January Oinancial year 2017-18 posting a growth of 24 per-

cent against the assigned monthly target of Rs 3254 million. As per details, the Collectorate of Customs Preventive collected Rs1103 million under the head of customs duty (CD) during the period under review against the proposed target of Rs927 million. Similarly, the Collectorate of Customs Preventive collected Rs1949million on account of sales taxes (ST) during the period under review against the as-

signed target of Rs 1527 million. On the other hand the Collectorate of Customs Preventive collected Rs970million on account of withholding tax (WHT) against the assigned target of Rs750 million for the month of January 2017. Likewise the Collectoarte collected Rs0.59 million on account of federal excise duty (FED) during the said period against Rs 48 million proposed target for the period. Overall the Collectoarte of Customs Preventive collected Rs 4024 million duty and taxes during period under review. It is necessary to mention here that Collector Customs Collectorate of Preventive directed his staff to use all available resources to recover outstanding amount from the defaulters. Sources told that Collector Faiz Ahmad adopted a comprehensive strategy to recover outstanding amount from defaulters and due to effective policy the Customs Preventive authorities are quite optimistic that they will deOinitely achieve revenue collection target assigned by FBR of current Fiscal Year 2017-18.

petroleum prices raised due to hike tribunal reserves verdicts of four appeals in intl. market: Ministry informs IHc he Customs Appellate Tribunal sus Chenab Limited, Additional Direc-

inistry of Petroleum submitted before the Islamabad High Courtthat the government had increased price of petroleum products due to their hike in international market. “Yet price of patrol was low as compared to our neighboring countries India, Sri Lanka and Bangladesh,” representative of the ministry apprised this to Justice Shaukat Aziz Siddiqui who was hearing a plea moved by Peer Mazhar Hussain Shah challenging recent in-

crease in prices of petroleum products. The counsel for the petitioner objected and informed the bench that in last sixteen months government increased prices of the petroleum products 15 times which was causing undue inOlation in purchasing of general products adding that there should be a fair price control system in the country. Meanwhile, representatives of Ministries of Finance and Oil and Gas Regulatory Authority (OGRA) sought more time to submit reply in the plea. –CB Report

(single and double) bench heard 29 cases and adjourned all for different dates except four cases whose verdicts were reserved and order would be announced very soon. Special division bench-I comprising Justice (retired) Malik Manzoor Hussan, Chairman, and Imran Tariq, member technical, heard 16 cases including Collector Customs Multan versus Muhammad Suliman, Diamond Fabrics versus Customs Faisalabad, Millat Pipe Industries versus Customs Sialkot. The same bench heared cases of Collector Customs Faisalabad ver-

tEVtA to help pass-outs of driving course

LAHORE

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echnical Education and Vocational Training Authority (TEVTA) Chairman Irfan Qaiser Sheikh has said that TEVTA will help its 1000 pass-outs of Driving Course to get leased cars from banks on easy conditions.

While talking to DIG TrafOic Farooq Mazhar and SSP TrafOic Police Athar Saeed at TEVTA Secretariat here on Monday, Irfan Qaiser Sheikh said, “After getting cars leased on conditions from banks, our youth will be selfdependent which is actually need of the hour.” He said that youngsters can earn up to Rs 25,000 to Rs 35,000 per month after getting registered with companies like Uber, Careem,

Albairak and many others. He further explained that developed countries always focus more on training of drivers as everyone knows that civilized nations are identiOied by their trafOic planning. Chairman was of the view that after success of Oirst phase of the Driving Course in Lahore, now this course is being extended to further Oive districts of Punjab including Faisalabad, Rawalpindi, Multan and

tor FBR Multan versus SM Food Makers, Zulifqar Ali Anjum versus Customs Multan, Riaz Bottlers versus Customs Multan, Ohad Motors versus Customs Lahore and Dimond fabrics versus Customs Faisalabad. The Single BenchI, comprising Muhammad Shabbir Gujjar, Member Judicial, heard seven cases which include Penna Overseas Corporation versus Customs Sialkot, A R Chaudhary versus Customs Anti Smuggling Lahore, White Land versus Customs Sambrial, Amir Traders Customs Lahore and Collector Customs Multan versus Pervaiz. –CB Report

Chiniot and at the end of the year 15 to 20 thousand youth will be trained. He said that this course will be started at 15 institutes of these districts where TEVTA will provide vehicles and training staff will be provided by TrafOic Police. TEVTA is further planning to increase this number of students to 40 thousand, he said, adding that our focus is more on quality than quantity.

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KARACHI IMrAN k AwAN

www.customsbulletin.com t least four appraisers of Port Qasim are found to be involved in clearing menthol illegally under the garb of synthesize mint oil and Olavor. A reliable source told Customs Today that as the investigations proceeded in this mega scandal of tax evasion, the ofOicials have come to know that an importer using different names has succeeded in clearing at least 10 consignments of menthol under the garb of synthesize mint oil and Olavor during last one year. In the investigation it was further revealed that M/s Alliance International was involved in the mega tax evasion. It is pertinent to mention here that on 3rd of January the Customs ofOicials had unearthed a mega scandal of duties and tax evasion worth over Rs 50 million in which a racket had smuggled hundreds of tons of menthol under the garb of synthesize mint oil and Olavor. The last consignment of the said importer

Friday, February 16, 2018

vor which was causing loss to government exchequer in millions. Collector Saeed Akram took keen interest to bust the racket and deputed experts. In the meantime, an importer and clearing agent company namely M/s Alliance International tried to clear menthol in heavy quantity through Port Qasim initially under the garb of synthesize mint oil and Olavor. Initially, amount of duties and taxes leveled was around below one million rupees but when it was re-examined it was found that over Rs 10 million tax had to be paid. According to the source, the consignments of the said importer was stopped and further investigation was underway to ascertain that how many such consignments were cleared in past and who were involved in the clearing process. Further, it was found that the network was Oiling GDs for clearing menthol by using different names and this tactic of changy n a omp c ing names proved to be helpt n e g l ring a ful for the racket. ationa d clea

was processed by appraising ofOicer Shair Khan who detected this smuggling attempt but previously at least four appraising ofOicers processed the same consignments and cleared against taking huge bribe. Source further informed that early this year, Chief Collector South Rasheed Shaikh and former Collector Port Qasim Saeed Akram had come to know that a network of importers and clearing agents were busy in clearing menthol under the garb of synthesize mint oil and Ola-

rn ter an ce Inte Impor Allian eavy s / M ly ol in h h t n e name rm itially o clea sim in t a d Q e t i r r t po t oil rough e min z h i t s y e t h i ties f synt quant t of du garb o n e u h o t r m unde ally, a below r. Initi ound o r v a a s fl a and eled w ees xes lev a t d on rup n i l a l i m one

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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

resilience of pakistani economy

ccording to media reports, the World Economic Forum has put Pakistan ahead of India in terms of emerging economies of the world. This is the economic performance of a country which is marred by corruption, mismanagement and in most of the cases administrative failure. If you bring logic and reasons to your side, there is no way Pakistan should have better performance than the countries in the region. But in fact, Pakistani economy is resilient and independent, which wades not only through a sea of corruption, but also hostile government policies. The government had recently imposed regulatory duty on 700 items, including the raw material which increased the cost of production and made exportable items uncompetitive in the world markets. The Supreme Court has now reversed the government decision. Had the duty still been there, even then the economy would have survived. The World Economic Forum ranked India at 62nd in the list of emerging economies while Pakistan has been ranked at 26th and China at 47th. According to the Inclusive Development Index, Norway continued to be the Number 1 inclusively advanced economy of the world and Lithuania as the Number 1 of all emerging economies of the world.The index adopted various parameters to assess the ranking, which also included standard of living of the people, debt burden as well as the sustainability of the business environment. In a recently held annual meeting of the forum, the member countries were encouraged to shift their focus to inclusive development and growth models. The term gross domestic product has also become relatively ambiguous as it is measured on the basis of total income of a country without keeping into account the inequalities within the people. There are the people who are well-to-do and others who eke out a meager existence. Last year, Pakistan ranked 52, India 60 amongst the 79 emerging economies while China remained at 15. Keeping in view the current economic trends, it is hoped the country will improve its performance in the coming years. However, there is a need to launch programmes for capacity building of the policymakers who still could not come out of the past and have limited approach to take operational decisions.

Irrational increase in oil prices T

LAHORE

Dr AftAB AfZAL

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he oil prices dropped in the international market, including the US benchmark, marking the lowest settlement in a couple of months. Reports suggest the number of active US rigs drilling for oil rose this week but abrupt fall in prices in the international stock markets has contributed to losses in the oil business. Ironically, prices of petroleum products have been increased in Pakistan, thanks to unchecked actions by the government and inability of the opposition parties to take a stand. Earlier, the government

had depreciated the local currency without considering its consequences and now it has increased the prices of petrol and the related products to collect more revenues. According to economists, the economy of Pakistan is poised to face tough challenges in the second half of the current fiscal year. The country is heavily dependent on oil imports the prices of which are steadily on the rise at home, though dropping in the world markets. This added confusion in the already beleaguered economy as the oil prices were, somehow, kept stable in the country. Though the oil prices are expected to increase to $70 per barrel in

six months, the current situation did not make sense to increase its prices in the domestic market. The State Bank of Pakistan (SBP) and a renowned international investment bank, JP Morgan, have expected an increase of $12 per barrel in the prices of international oil benchmark. An increase in oil prices in the international market brings windfall for the government as increase in prices gives it an excuse to enhance prices for its own benefit. On the other hand, dollar is weakening against major currencies of the world, but its value is steadily increasing in Pakistan, which adds more confusion to the na-

tional economy. Unfortunately, increase in the oil prices always left domino effects on the entire economy and induces cost-push inflation in the business and trade sectors. An increase in the oil prices not only enhances the cost of transportation but also the cost of production of the exportable items. The expensive fuel also leaves inflationary pressure in the banking sector. The uptick in oil prices also affects the import bill which widens the current account deficit. However, when oil prices are decreased, the government refuses to pass its benefits to the people. Import of oil has become a good business for the government.

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Trade gap widens by 24.18pc in 7 months ISLAMABAD: Pakistan trade gap has widened by 24.18 percent as trade deficit ballooned by 21.54 billion in the first seven months of the current fiscal year. The trade deficit in July –January 2016/2017 was $17.35 billion, according to Pakistan Bureau of Statistics (PBS). Exports of the country during the first seven months have increased by 11.1 percent to $12.96 billion as compared with $11.67 billion in the corresponding period of the last fiscal year. The imports also registered growth 19 percent to $34.51 billion as compared with $29.02 billion.

pcA detects 12 cases of tax evasion during January

Friday February 16, 2018

National

court grants pre-arrest bail to suspect in QMobile smuggling case

ISLAMABAD

wAQAr AHMED ANSArI www.customsbulletin.com

he Federal Investigation Agency (FIA) and the Federal Board of Revenue (FBR) have details of Pakistanis who own properties in Dubai. This was revealed during a National Assembly Standing Committee on Finance meeting by a journalist. Earlier, Asad Umar of the Pakistan Tehreek-i-Insaf had requested the committee to allow a journalist to brief them regarding the FIA and FBR’s stance on details of the Pakistani citizens who own properties in Dubai. The FBR representatives appeared speechless as the journalist revealed before the committee that the FBR had had the details all along. Committee chairman Qaiser Ahmed Sheikh of the Pakistan Muslim League-Nawaz (PML-N) said the FIA and FBR had, all this time, denied that they

KARACHI

M B rANA

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ustoms Court Judge Syed Faiz Rasool Rashdi has granted prearrest bail to suspect namely Kashif Hussain who was booked for attempting to smuggle assorted (QMobile) phones and other goods in the garb of LED lights. During the hearing, the suspect Oiled a petition for bail. After the arguments, the court granted him prearrest bail against surety bonds of Rs 500,000 and directed him to appear before the court on the next date of hearing for conformation of bail. Earlier, Investigation OfOicer Bashir Bhutto informed the court that suspects namely Zeeshan Akhtar, Zeeshan Yousaf, Kashif Hussain and Muhammad Azam Hussain were still absconders and the customs authorities were trying their best to arrest them. He sought further time for compliance of the court order, therefore, court re-issued their non-bailable warrants and adjourned the matter. According to the interim charge sheet, on a credible information,

anti-smuggling organization (HQ) MCC (P) Karachi raided at Sadder Central Plaza, Karachi and found that one container no-KKFU72555703 loaded on a trawler noTLT-374 was parked there, search was carried out accordingly in presence two musheers which revealed the presence of huge quantity of mobile phones stuffed in the aforesaid container. Court was informed that subsequently the said container loaded on the vehicle was brought at ASO/HQ,

thorough search was conducted in the presence of said musheers, resultantly recovered 27200 QMobile phones, 35790 other assorted brands and models mobile phones, 531 Amazon Tablets which were smuggled by the suspect in the garb of LED Lights, tentative value of the smuggled goods is Rs 284,470,000 and suspect evaded the duty and taxes in the tune of Rs103,702,340 approximately, investigation officer further informed the court that no suspect

was arrest yet, however, they are trying their best for arrest of them. According to the prosecution was registered for violation of under section 2 (s) 16, 32 (1) & (2) 32A, 79, 80, 157 and 178 of the Customs Act, 1969 read with import policy order 2016 punishable under section 156 (1) (8) (89) (9) (9) (14) (14A) (43) (44) (45) & 156 (2) ibid read with section 3, 6, 7A, 33, 34 of the sales tax act, 1990, further read with section 148 of the Income Tax Ordinance 2001.

24 projects worth rs185 billion approved ISLAMABAD

had access to the list of Pakistanis who owned land in Dubai. The scope of discussion on this needed to be broadened so they allowed Ashraf Malkham, an Islamabad-based journalist, to address the MNAs, he added. Malkham told the committee that the Dubai Land Authority had sent a list of Pakistanis who owned real estate in Dubai to the FBR some years back. The list carries all the details of those people, including the addresses of properties, passport numbers of their owners, their names and even the ages of investors who had purchased properties there.

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he government has approved 24 projects worth Rs184.8 billion, out of which 10 projects of Rs169.6 billion were referred to ECNEC. Central Development Working Party meeting was held under the chairmanship of Planning Commission Deputy Chairman Sartaj Aziz. The meeting was also attended by the senior ofOicials of federal and provincial governments as well as autonomous bodies. The CDWP also approved one position paper with a cost of Rs. 709 million. The projects presented for approval included energy, transport & communication, water resources, physical planning & housing, science & technology, governance, health and mass media.

In energy sector, CDWP recommended a project on evacuation of power from Suki Kinari, Kohala & Mahl Hydro Power Project in Northern Areas of worth Rs73.6 billion to ECNEC. The main objective of the project is construction of 500kV transmission network to provide interconnection facilities for evacuation of power from the said hydro power plants. Moreover, a project of feasibility study on developing mechanism for tariff based bidding of hydropower projects, review of feasibility studies for hydropower projects through local and foreign experts and capacity building of PPIB employees was approved with a cost of Rs 64.3 million. The project will help enhance the capacity of PPIB. In transport and communication, CDWP approved 12 projects in transport & communication out of which six were referred to ECNEC. The projects included upgrada-

tion/renovation of Bahawalpur, Raiwaind, Gujranwala, Karachi, Peshawar, Hyderabad, Sukkur, Lahore and Rawalpindi railway stations (Rs1.46 billion), replacement of old and obsolete signal gear from Lodhran-Multan-KhanewalShahdara Bagh Main line Section of Pakistan Railways (Rs 18.6 billion), improvement & widening of ChitralBooni-Mastuj-Shandur Road (Rs19.1 Billion), construction/rehabilitation of four bridges (Muzhgole Bridge, Osaik Bridge, Pokel Bridge and repairing of Churan Bridge) with approach road and allied components (Rs544.6 million), construction of Ziarat MorKach-Harnai Road and construction of Harnai Sanjavi Road (Rs10.8 billion), construction of six lane overhead bridge at Imamia colony railway crossing Shahdara (Rs 2.1 billion), purchase of road clearance/earth moving machinery for prompt emer-

gency response in AJK (Rs 500 million), extension/upgradation of Bannu Airport for A-320/B-737 Aircraft Operations (Rs 715 million), improvement of security at Karachi Int’l Airport, Multan Airport and Islamabad Airport (Rs 2.2 billion), land acquisition for Rwp-Kahuta Road (Rs 5.3 billion), and dualization of RwpKahuta road (Rs 10.1 billion). Lastly, construction of northern by pass of Dera Ghazi Khan was recommended to ECNEC (Rs 5.6 billion). In physical planning & housing, construction of Model Custom House at Gwadar was approved with a cost of Rs 1.5 billion. In water resource feasibility study, detailed engineering design & preparation of tender documents of Murunj Dam Project was approved with a cost of Rs 371.7 million. Darawat Dam Project was also recommended to ECNEC, which would be completed with a cost of Rs11.8 billion.

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Customs PQ busts dual use precursor Acetic Anhydride worth $1.5m Friday February 16, 2018

National customs Islamabad posts 67pc growth in revenue collection in 7 months

KARACHI: The Customs Collectorate Appraisement Port Muhammad Bin Qasim (PQA) seizes 15,520 liter of dual use precursor Acetic Anhydride, a main ingredient for preparing narcotics substances, especially heroin. According to the details, during the discreet monitoring of the import data, a suspicious consignment comprising a container 1×20 said to contain item having a vague description of “ summer fluid” shipped from Poland bearing address of Peshawar based consignee was identified.

AfU Islamabad earmarked rs1952m under all heads for third Quarter

ISLAMABAD

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ISLAMABAD

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he Model Customs Collectorate Islamabad showed 67% increase in the revenue collection performance under all duty heads against an earmarked revenue collection target during first seven months of FY17-18. According to details given by Zulfiqar Ali Ch, Collector, Model Customs Collectorate (MCC) Islamabad, that the MCC Islamabad displayed adequate revenue performance against an assigned revenue collection target under all heads during first seven months (July to January) FY17-18. The collectorate received Rs4443.47million of Customs Duty (CD) against an allocated revenue collection target of Rs3385.53million. The MCC fetched Rs6312.14million as Sales Tax (ST) during first seven months of FY17-18 against an earmarked revenue target of Rs2760.25million as ST.

Imran hits out at fBr for failing to make necessary reforms akistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has claimed that he is the only Pakistani who generates Rs9 billion annually from the country. “I am the only Pakistani who collects Rs9 billion annually to meet expenses of my humanitarian projects. This means people are willing to give their money, but to those people or institutions, which they trust,” said Khan while addressing textile-sector industrialists on Thursday. He argued that people in Pakistan were willing to pay taxes, but the Federal Board of Revenue (FBR) lacked the capacity due to the absence of institutionbuilding initiatives on the part of the government. –CB Report

he Air Freight Unit (AFU) Islamabad has been assigned a revenue collection target of Rs1952million under all the heads for 3rd Quarter of FY17-18. According to details given by Wajid Zaman, Deputy Collector, Customs Air Freight Unit (AFU) Islamabad, that it has been allocated a revenue target of Rs801.88million under the head of all taxes for the month of March FY17-18. It has been earmarked a revenue target of Rs511.53million under the same head for the month of February FY17-18 while it was assigned a revenue collection target of Rs639million under head of all taxes for month of January FY17-18.

Deputy Collector told CT that the AFU Islamabad had been allocated Rs747.14million under the head of Customs Duty (CD) for 3rd quarter

(January to March) FY17-18 while it was earmarked Rs792.89million of Sales Tax (ST) as well as the AFU was assigned Rs395.47million as In-

come Tax (IT). Wajid said the AFU Islamabad is working with an aim to exceed the allocated revenue target for 3rd Quarter FY17-18.

customs court extends remand of accused involved in diesel smuggling D

LAGHORE

M HAYAt

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uty Judge Customs Court Arshad Ali has extended the physical remand of all eighteen accused persons who are involved in smuggling of Iranian diesel. According to the details, customs team arrested all the accused persons when they were trying to smuggle huge quantity of non customs paid Iranian diesel into Pakistan. Customs team during checking of asked them to produce legal documents regarding possession and transportation of Iranian origin goods, but they failed to provide any relevant documents. Customs team arrested them and produced them in Customs Court and prayed that they need more time to investigate the arrested persons. After hearing the arguments Customs Court ex-

tended the physical remand of accused persons till April 18. Cus-

toms Court directed customs team to produce all the accused per-

sons on next date of hearing with complete challan.

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Customs Court sends suspect to jail involved in diamonds smuggling KARACHI: Customs Court Judge Syed Faiz Rasool Rashdi has sent a suspect, Muhammad Javad, to jail on judicial remand and directed the investigation officer to submit a charge sheet against him. Javad was booked in a case of attempting to smuggle 202 carats (cut and polished) diamonds worth Rs 6,060,000. During the hearing, the investigation officer produced the suspect before the court and informed that Javad, holding Pakistani Passport No-AE-8671584, arrived from Bangkok via Thai Airways flight no:TG-341, was diverted from the customs baggage scanning machine to the customs examination counter for detailed examination.

fto seeks related details of arguments to decide case KARACHI

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he Federal Tax Ombudsman (FTO) has heard an appeal filed by the Proprietor Pakistan Mineral Processing against the Corporate Regional Tax Office (CRTO) and adjourned the hearing until the next date. The FTO also sought relevant details to decide the case. FTO Consultant Mian Munawar Ghafoor heard the case. The counsel for the appellant had argued that the Corporate Regional Tax Office (CRTO) failed to release the tax refund of the last two years claimed by the company. He said the RTO has been collecting excessive taxes for the last two years. He approached the commissioner concerned many times for release of refunds but the CRTO officials did not pay

the refunds, even after the lapse of a reasonable time. At the end, the company decided to approach the FTO, seeking intervention in the case. The counsel appealed to the FTO advisor to direct the CRTO to clear refund claims. The counsel further said the CRTO should refund the excess collection in the wake of taxes by the end of financial year but the situation is quite otherwise. Delay in release of refunds puts burden on the taxpayer, he said, adding the CRTO Lahore should make audit of the case and release the extra amount collected by it from the taxpayer. After hearing arguments from both sides, the FTO advisor postponed the case of the Proprietor Pakistan Mineral Processing until the next date for further hearing and directed the parties to appear on said date to present arguments in the case.

National

NA commerce committee approves rs 25, 626.577m pSDp proposals for fY 2018-19

pcA uncovers evasion of duties & taxes by M/s Sanaullah Zubair fabrics karachi KARACHI

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he Directorate of Customs Post Clearance Audit has detected an evasion of duties and taxes of Rs7.48million by M/s Sanaullah Zubair Fabrics Karachi, it is learnt here. Sources told Customs Today that M/s Sanaullah Zubair Fabrics Karachi imported a consignment of imported silk wool and different machine parts and got it cleared from the Pakistan International Container Terminal Karachi vide GDs on November 9, 2017 by paying the customs duty at eight percent after claiming the benefits of the SRO 562/2007. However the subject items are correctly classifiable under the PCT 2305.5478 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of misdeclaration of classification, the company evaded/short-paid Rs7.48million. The goods were cleared by Head Examiner Shabbir Ovais. Sources said the importer violated the provisions of Section 60 (2) & (9A) of the Customs Act-1969, Section 14 read with Section 47 of the Sales Tax Act-1990 and Section 145 of Income Tax Ordinance 2001 punishable under clauses (242) and 160 of Section 625(3) of the Customs Act-1969.

ISLAMABAD

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he Standing Committee on Commerce and Textile has recommended PSDP proposals for the Ministry of Commerce and Textile amounting to Rs 25, 626.577 million for the Oinancial year 201819. The standing committee met here with Siraj Muhammad Khan in the chair and was separately apprised about the proposed PSDP of commerce and textile divisions. The additional secretary, commerce division, informed the meeting that the division had proposed allocation of PSDP funds amounting to Rs 8,550 million for Oinancial year 2018-19 for seven projects relating to establishment of new Expo-Centers at Islamabad, Quetta and Faisalabad, expansion/remodeling of Expo-Center at Karachi, provision hostel and transport facility to students at Pakistan Institute of Fashion and Design, Lahore, and an ongoing projects relating to Expo-Center at Peshawar. Later the secretary, Textile Division, apprised the committee about the proposed PSDP allocation for the project of Textile Division. He in-

Friday February 16, 2018

formed them that Rs 11,012.372 million had been proposed for Oive new projects whereas Rs 6,064.205 had been proposed for seven projects which were being resubmitted for approval by the Planning and Development Division. Apprising the committee about the new projects, the secretary said that those projects related to establishment of National Textile University (NTU) Campus at Quetta, Garment City Project at Karachi, construction of new library at NTU campus at Faisalabad and imple-

mentation of system for standardization of high quality cotton. Apprising about the projects being resubmitted for approval related to PM skill development programs for textile industry and studies for climatic change, recycling of organic wastes, restoration of soil fertility and cost management in cotton production and marketing. The committee after thorough discussion recommended the entire proposed PSDP of the Ministry for inclusion in Budget for next financial year.

Dg Valuation changes values of cameras vide Vr No: 1253/2017

KARACHI

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he Directorate General of Customs Valuation has revised the customs values of Cameras through Valuation Ruling No: 1253/2017 under Section 25A of the Customs Act-1969. The customs values of cameras were determined vide Valuation Ruling No.1096/2017 dated 20.03.2017. Being aggrieved with values determined in the aforementioned valuation ruling, the importers Oiled a revision petition with the Director General Customs Valuation under Section 25-D of the Cus-

toms Act-1969 and took the plea that prices mentioned there in are very high and not feasible for them to import cameras legally and run the business on these values in the market. The Director General (Valuation) Karachi vide Order-inRevision No: 384/2017 dated 19.09.2017 remanded back the case to re-determine customs values of cameras after a comprehensive exercise on various brands of cameras. Therefore an exercise was conducted to determine the customs values of cameras under Section 25A Customs Act-1969. Stakeholder’s participation in determination of Customs Values: The stakeholders’

meeting was scheduled on 18.10.2017. All participants were requested to submit the following documents: The invoices of imports during the last three months showed factual values. Websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained. iii. 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 supported contention of the importers. The meeting was attended by stakeholders and ofOicials from Oield for-

mations. During the meeting, the importers opined that there are many types of cameras i.e. Instant Cameras, Analogue Cameras and Still Cameras and the values of these types of cameras vary due to size of lenses attached to them which are also of different makes and models. The major imports are of household cameras which are commonly imported and used by public. The values as enumerated in the impugned valuation ruling are very high compared to the international prices of these cameras. Therefore the prices may be rationalized/reduced so that they can compete and trade through legal channels.

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Saudi Arabia suspends imports of Vietnamese seafood

World Customs

RIYADH: Saudi Arabia’s Food and Drug Authority (SFDA) has ordered a temporary suspension of fish and shrimp imports from Vietnam. The online news service, which reports to be quoting a note published on the website of the Saudi Aquaculture Society, said the decision was made after a delegation of regulatory officials conducted an inspection last month of 24 Vietnamese facilities. The group reported finding only nine that met Saudi Arabia’s food safety requirements.

Friday February 16, 2018

172 people arrested for online gun sales in china

philippine inflation highs after duterte tax MANILA

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BEIJING

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olice in China have arrested 172 people and busted 12 gangs allegedly involved in online sale of guns in eight provincial regions, the government said. The police has also busted 13 gun manufacturing dens and confiscated 366 firearms, including air guns, pistols and shotguns, as well as over 20,000 accessories, state run Xinhua news agency said quoting the Ministry of Public Security (MPS) statement. However, the period during which the arrests were made was not specified. According to the Ministry, which has pledged to continue tough stance against the gun crime, seriously disturbs social stability and the people‘s sense of security. It asked the public to improve their legal knowl-

Iran bets on non oil segments of the economy ran’s Central Bank said all segments of the economy were improving and growth in gross domestic product was around 4 percent on the back of increasing oil production and exports. “Iran’s economy generated 650,000 jobs in the past fiscal year and continued to create more jobs during current fiscal year,” the oﬃcial said. “However, the growth projection for the current year will be mainly reliant on the nonoil sectors of the economy.” Iran is the third largest oil producer in the Organization of Petroleum Exporting Countries. Commodity pricing group S&P Global Platts reported that Iran produced an average of 3.83 million barrels per day last month, an increase of 100,000 bpd because of incremental gains from its South Yaran field. Production two years ago was around 3.5 million bpd. –CB Report

edge, not to manufacture or sell guns, and turn in any illegally possessed guns In March 2016, police from east China‘s Jiangxi Province noticed information on gun sales that was published via groups on WeChat, China‘s most popular instant messaging application. In subsequent investigations, police found that deals were mainly made on

WeChat, resulting in sales of more than 20 guns and over 3,000 bullets. Possession of guns by private individuals is illegal in China. The Ministry had announced that a twoyear campaign would be launched, targeting the manufacture and sale of guns and explosives in China, and the smuggling of related goods from other countries.

china’s iron ore import growth steel export fall perks pricing

hina’s latest trade data may be underscoring why iron ore and coking coal prices are currently supported well above longer-term analyst price estimates, as steel industry measures inject some optimism for miners. China, which imported a record 1.07 billion mt of iron ore in 2017, in January hauled in 100 million mt, up 9.1% on a year earlier. On Friday, Platts IODEX 62% Fe Oines was assessed at $76.55/dmt CFR,

compared to a 2018 Macquire forecast of $66/dmt, which was revised up in January from an earlier $54/dmt. The bank stated the upward revision to iron ore recognized “China’s persistently high steel capacity utilisation rate should keep quality differentials wide,” with lower purity grades. A move to restock iron ore in China to prepare as mills return from winter cuts is promoting iron ore imports. –CB Report

hilippines last month hit its highest level for more than three years due to President Rodrigo Duterte’s new tax measures and poor weather, the economic planning agency said . Inflation in January 2018 rose to an annualised 4.0 percent, the highest since the 4.3 percent posted in October 2014, the National Economic and Development Authority said. Duterte in December signed a tax reform law known by its acronym TRAIN and aimed at raising funds for his massive spending programme for new roads, railways, ports and airports. It included a rise in the excise tax on coal, the fuel that runs almost half the country’s power

plants, and tax increases on tobacco products, automobiles, petroleum products and even sweetened beverages. “The push in inflation is partly due to TRAIN, considering particularly the excise on fuel and additional ‘sin’ taxes,” Economic Planning Secretary Ernesto Pernia said in a statement. Rising food and non-alcoholic beverage prices along with a series of typhoons late last year that crimped supplies of farm products, led to the higher inflation in January, he added. The January figure remained within the government’s 2.0 to 4.0 percent inflation target for the whole of 2018. The Philippines posted 3.2 percent inflation for 2017. The government agency said the government must ensure “mitigation measures” such as financial aid to poor families, and clamp down on profiteering to cushion the effects of the tax measures.

Investors in India’s tax crosshairs ndia’s income tax department has issued 100,000 tax notices to cryptocurrency investors, in the latest sign of a government crackdown on the use of the digital money. People who have made investments (in cryptocurrency) and have not declared income while filing taxes and have not paid tax on the profit earned by investing, we are sending them notices as we feel that it is all taxable,” Sushil Chandra, the head of India’s direct taxes department, was quoted as saying in a news release from an Associated Chambers of Commerce and Industry of India event Tuesday. In-

dia has yet to issue guidelines on cryptocurrencies. The digital money isn’t recognized as legal tender in India, Finance minister Arun Jaitley said in his budget announcement last week. The government has set up a committee to look at issues related to cryptocurrencies. The Reserve Bank of India has warned against the Oinancial, economic and security risks it says are associated with holding cryptocurrencies. We found out that there is no clarity on investments made by many people, which means that they have not declared it properly,” Mr. Chandra said. –CB Report

S. korea to seal currency swap deal with Switzerland

SEOUL

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outh Korea is going to sign a currency swap deal with Switzerland, all eyes are on whether the country will be also able to clinch a bilateral currency swap agreement with Japan and the United States. The Bank of Korea

(BOK) will sign the 11.2 trillion won (US$10.6 billion) agreement in Zurich, Switzerland, on February 20. The currency swap deal with Switzerland is particularly meaningful for South Korea because Switzerland is one of key currency countries in the world, according to the government. Currently, six key currency countries, such as the U.S., Britain, Canada, Switzerland and

Japan as well as the Eurozone, have swap arrangements that set no limits on amount and durations of the deals. South Korea will clinch a deal with Switzerland following the one with Canada last year. Swiss franc ranks seventh in terms of foreign exchange transactions around the world and eighth in terms of foreign exchange holdings and international payments. With the upcoming

agreement, South Korea has signed a mutual currency swap deal with a total of seven countries, including Canada, China, the United Arab Emirates, Malaysia, Australia, Indonesia and Switzerland, worth US$132.8 billion (143.68 trillion won). In particular, the country closed the deal which has no limit on liquidity provisions and no expiration date with Canada in November last year.

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KPT shipping intelligence report KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours. ALONG SIDE (Bulk Oil Pier) OP-I Shalamar D. Crude Oil PNSC 05/02/18 OP-IIo Al Safa D. Jet Oil East Wind 05/02/18 ALONG SIDE (East Wharves) 1 Mid Nature L. Ethanol East Wind 05/02/18 2/3 Lemesos Lion D. Meal WMA Shipcare 04/02/18 5 CMB Chikoko D. Coal OC-Services 04/02/18 11/12 Challenger D. Coke OC-Services 06/02/18 15/16 Polo D. L. Cnt. Golden 06/02/18 ALONG SIDE(P.I.C.T) 8/9 KMTC Dubai D. L. Cnt. U.M.A 05/02/18 ALONG SIDE(PDWCP): SAPT-3 Tirua D. L. Cnt. United Arab 05/02/18 SAPT-4 Wiking D. L. Cnt. U.M.A 05/02/18 Along Side(West Wharves) 24 Cerulean D. Gen.Cargo COSCO 03/01/18.

kpt shipping movements report ollowing were the Movements of Ships at the Karachi Port Trust (KPT) during last 24 hours, ending at 0700 hours on Wednesday. SHIPS SAILED: Wiking Cerulean CME Chikako Tirua KMTC Dubai MID Nature SHIPS BERTHED: Maribor Container Ship Navios Verano Container Ship Sun Ploeg Tanker EXPECTED SAILING DATE M.T.Shalamar 07/02/18 Polo 08/02/18 Challenger 08/02/18 EXPECTED ARRIVAL DATE CARGO Chemroute Pegasus 07/02/18 D/6000 Base Oil APL Antwerp 07/02/18 Cont Ince Tokyo 07/02/18 L/60220 Wheat Oriental Lotus 08/02/18 L/7500 Ethanol MOL Explorer 08/02/18 Cont Da Kang 08/02/18 L/612 GC Meanwhile, The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Wednesday. ALONG SIDE (Bulk Oil Pier) OP-I Shalamar D. Crude Oil PNSC 05/02/18

Ports & Shipping

gwadar to be provided 12Mg water per day by next year: gDA

Iran’s Jan Lpg exports jump to 520,000 mt most since sanctions ended PG shipments from Iran made a strong start to the year, rebounding to 520,000 mt in January, the highest since Western sanctions for its nuclear program were lifted in January 2016, updated fixtures from shipping sources showed this week. The latest volume is 146,000 mt more than initial figures published in mid-January, according to shipping sources. It is also up 39.4% from 373,000 mt in December 2017, when shipments posted the first month-on-month increase in three months, after exports started declining in September due to lower output at the South Pars gas field amid a two-month maintenance. In 2017, Iran’s LPG shipments totaled around 3.5 million mt, with the highest monthly volume seen in August at 423,000 mt before the maintenance, which ended around mid-November, sources had said. Iranian exports are helping to fill shortfalls of spot supply from the Middle East, as major producers Saudi Arabia. –CB Report

ISLAMABAD

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wadar Development Authority (GDA) was working on various projects to provide 12 million gallon water per day to port city by next year. According to an ofOicial of (GDA) Gwadar Development Authority, the existing water crisis in the city would be clogged in the coming days, adding various projects were in the pipeline to provide clean drinking water facility on priority. 80 percent work on Sawad Dam, having the capacity to provide 5 million gallon water to the city, have already been completed. The project will start supplying water from April 2018. Likewise, another 3 million Gallon water capacity Shadi Kaur Dam will be completed by the end of current calendar year. The dam is being constructed with the help of China. Besides, Balochistan Government was finalizing a plan to construct

Friday February 16, 2018

100 new dams for maintaining water level and irrigation, he added. The provincial government has decided to purchase 2 MGD desalination plant from China Overseas Ports Holding Company (COPHC). The Chinese company is also installing a desalination plant and it will be completed by the mid of this year. Besides, another desalination plant of 5 million gallons clean drinking water producing capacity would be completed in record time. Currently, he said 360

bowser and 45 trawler tankers are supplying water to Gwadar from Mirani dam to Gwadar city. Meanwhile, Pakistan and China on Monday inked five Agreements and a Memorandum of Understanding for strengthening collaboration between Gwadar and the Chinese port cities. Prime Minister Shahid Khaqan Abbasi witnessed the ceremony, as representatives of Pakistan and China inked the documents, following the inauguration of Gwadar Free Zone.

Hutchison port holdings trust Q4 earnings retreat OP-II Al Safa D. Jet Oil East Wind 05/02/18 ALONG SIDE (East Wharves) Mid Nature L. Ethanol East Wind 05/02/18 2/3 Lemesos Lion D. Meal WMA Shipcare 04/02/18 11/12 Challenger D. Coke OC-Services 06/02/18 15/16 Polo D. L. Cnt. Golden 06/02/18 ALONG SIDE(P.I.C.T) 8/9 Navios Verano D. L. Cnt. Riazeda 06/02/18 ALONG SIDE(PDWCP): Berth Vacant…. Along Side(West Wharves) Berth Vacant…. ALONG SIDE (K.I.C.T): 26/27 OOCL Shanghai D. L. Cnt. OOCL Pak 06/02/18 29/30 Maribor D. L. Cnt. COSCO 06/02/18 EXPECTED ARRIVALS: CONTAINER (GEARLESS) MOL Explorer MOl Pak 07/02/18 Not Sched 700 Cnt. 1000 Cnt. –CB Report

SYDNEY

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n order to enable a more meaningful comparison of the operating results of HIT(a) , COSCOHIT(b) and ACT(c) following the commencement of the co-management arrangement on 1 January 2017, management has restated the % variance of certain key operating profit and loss lines by assuming that 1) the co-management arrangement had been effective as at 1 January 2016; and 2) including 100% of the corresponding operating profit and loss lines of COSCO-HIT and ACT into HPH Trust consolidated results. The resultant impact of these assumptions are collectively referred to as “restated % variance”. Revenue and other income for the quarter was HK$2,856.8 million,

HK$100.7 million or 3.4% below last year. However, the restated % variance on revenue and other income was comparable to last year. Combined container throughput of HIT, COSCO-HIT and ACT (collectively “HPHT Kwai Tsing”) increased by 0.9% as compared to the same quarter in 2016, primarily due to higher transshipment cargoes but offset by weaker in intra-Asia cargoes. The container throughput of YICT(d) increased by 10.6% as compared to the same quarter in 2016, primarily driven by growth in the US and transshipment cargoes. Average revenue per TEU for Hong Kong and China were below last year mainly attributed to greater volume of concessions offered to certain liners, as well as, certain revisions on tariffs following the mergers and acquisitions of some liners. In addition, China’s average revenue per TEU was also adversely

impacted by higher transshipment mix, but partially offset by RMB appreciation. Cost of services rendered was HK$1,111.2 million, HK$13.7 million or 1.2% above last year. However, the restated % variance on cost of services rendered was 5.6% above last year. The increase was attributed to higher throughput handled, general cost inOlations, including the increase in external contractors’ costs, higher dredging cost at YICT and RMB appreciation, but were partially offset by savings in operation costs arising from improved resources’ allocation efOiciencies following the commencement of co-management. Staff costs were HK$70.4 million, HK$0.2 million or 0.3% below last year, which were comparable to the restated % variance. Depreciation and amortisation was HK$769.5 million, HK$37.4 million or 5.1% above last year, mainly due to increase in capex

spending. Other operating income was HK$14.9 million, HK$66.1 million or 81.6% below last year, mainly due to the deferral of 2017 dividends from River Ports Economic BeneOits to 2018 and the aggregated effect of the receipt of an award, a subsidy for railway business development from the Shenzhen government and gain on disposals of tyres by YICT in 2016. Other operating expenses were HK$137.5 million, HK$27.0 million or 16.4% below last year. However, the restated % variance on other operating expenses were 8.8% below last year, mainly due to savings in general overheads such as computer maintenance and insurance costs. With the aforesaid, total operating expenses were HK$2,073.7 million, HK$90.0 million or 4.5% above last year. As a result, total operating proOit was HK$783.1 million, HK$190.7 million or 19.6% below last year.

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SMEDA starts consultation on SME budget proposals Friday February 16, 2018

Business

LAHORE: Small and Medium Enterprises Development Authority (SMEDA) initiated a nation-wide consultation process to solicit inputs for Federal Budget 2018-19 by approaching around 250 SME (Small and Medium Enterprise) stakeholders including SMEs, Chambers of Commerce and Industry, trade associations and sector development companies. According to SMEDA oﬃcials , the stakeholders had been asked to send their recommendations by end of this month regarding taxation tariﬀ, regulatory procedures and any other issue that may limit SME progress.

NAB to probe charges against anti-corruption Dg ISLAMABAD

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he National Accountability Bureau authorised an inquiry against Director General Anti Corruption Punjab over the allegation of misuse of power and denying providing the record to the NAB. The NAB decided to Oile two corruption references and authorised four investigations and 17 inquiries against civil servants and businessmen in its Executive Board Meeting chaired by the NAB Chairman Justice (retd) Javed Iqbal. It was decided to Oile corruption reference against former Karachi Development Authority Director General

IrSA releases 82,700 cusecs water KARACHI

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Syed Nasir Abbas and others for illegally converting welfare plots into commercial plots and causing loss of Rs354 million to the national exchequer. The meeting also approved a corruption reference against Sindh Public

More air cargo routes needed to boost seafood, fruits exports to china

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he Indus River System Authority (IRSA) released 82,700 cusecs water from various rim stations with inflow of 41,500 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1426.80 feet, which was 46.80 feet higher than its dead level of 1,380 feet. Water inflow in the dam was recorded as 20,500 cusecs and outflow as 40,000 cusecs. The water level in the Jhelum River at Mangla Dam was 1092.50 feet, which was 52.50 feet higher than.

Service Commission ex-chairman Muhammad Hassan Bhutto and others over the allegation of misuse of power and making illegal appointments in the civic body. The NAB also authorised an inquiry against former vice-chancellor

Sargodha University Chaudhary Muhammad Akram on charges of misuse of power and illegal appointments in the university. The National Assembly Standing Committee on Higher Education has also ordered administrative, Oinancial and academic audit of his eight years tenure. The NAB authorised a third inquiry against ofOicers of Pakistan Agricultural Research Council Islamabad for illegally appointing 200 persons in the PARC. The fourth inquirywas authorised against ofOicials of Capital Development Authority for selling expensive plot at cheap price in Sector G-6 Islamabad. The Oifth inquiry was authorised against ofOicers of Privatization Commission of Pakistan over the allegations of privatization of Pak-US Fertilization Mianwali and causing a loss of Rs3.889 billion to the national exchequer.

M BEIJING

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ore international air cargo routes between Pakistan and China’s inland cities are needed to enhance seafood and fruits exports from Pakistan to China. In 2017, exports to Pakistan from China stood at $18.3 billion, while China’s imports from Pakistan totalled $1.8 billion. With upgraded “software,” the China-Pakistan Economic Corridor (CPEC), a Olagship project of China’s Belt and Road (B&R) initiative, might

help Pakistan boost exports and slash its trade deOicit with China , according to an article published in Chinese newspapers Global Times. Most observers agree that seafood and fruit can become bright spots in Pakistan’s exports to China , and the only question is how this potential can be realized. Although the CPEC is designed to connect the Gwadar Port in Southwest Pakistan with Kashgar, most of the seafood sold in Xinjiang is transferred from the southeast coast of China , which is thousands of kilometres away. Before Urumqi airport became licensed as a designated port of entry

for imported chilled and fresh aquatic products last year, it took seven to 10 days for such imports to be transferred to inland Xinjiang after arriving on the southeast coast. The 1,150 kilograms of seafood represents the Oirst time that Urumqi’s airport was allowed to handle fresh goods from Pakistan , after a chilled and fresh aquatic products import port was granted in the city last year. It is now feasible to meet Xinjiang consumers’ demand for seafood with Pakistan’s high-quality products, and this will certainly expand China’s imports from the South Asian country.

telecom sector grows at rapid pace ISLAMABAD

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he telecommunication sector in the country has grown at a rapid pace and undergone an impressive transformation over the last four years. Introduction of Mobile Broadband Services (3G / 4G/LTE) in Pakistan is one of the biggest achievements of information Technology and Telecommunication Ministry. In 2014 award of four 3G Licenses awarded to Jazz (Mobilink), Telenor, Ufone, and Zong and One 4G Licenses to Zong, in 2016Award of 4G License awarded to Telenor and in 2017 Award of 4G License to Jazz. Acording to oﬃcial of Ministry,Telecom Policy 2015 has been Review and Integration of multiple telecom sector policies into one National Telecom Policy and Abolishment of ICH regime – Measures to curb Grey Traﬃc. In the campaign lunched by Pakistan Telecommunication Authority (PTA) biometric verification of SIMs and Re-verification of Existing SIMS, total 114.9 million SIMs were verified against 44.7 million CNICs ,98.3 million SIMs were blocked (including 26.1 million active SIMs). Incentive Package has been given to Local Manufacturing of Smart Phones Telecom sector has Secured 100 MHz for mobile broadband and 300 MHz for fixed satellite service at the World Radio communication Conference 2015for the country.

tax Bar Associations asked to educate business community PESHAWAR

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rovincial Minister for Higher Education Mushtaq Ahmed Ghani has asked the Tax Consultants and members of Tax Bar to join hands with the government to educate the business community to pay their taxes as national obligation. He said this after inaugurating Hazara Tax Bar Association at Regional Tax Of-

Oice, Abbottabad. The ceremony was attended by the members of HTBA, ofOice-bearers of different trader bodies and notables of the area. Mushtaq Ahmed Ghani said that KP government has established fully computerised and fool proof system of tax recovery and due to efOicient management system and conOidence of the business community it has shown remarkable improvement in their tax collection system. He said KP government is striving for the self-re-

liance policy for which he asked the tax consultants to play their due role to achieve the collection targets which will be ultimately spend on the people of KP for uplifting projects and schemes. Mushtaq Ghani remarked that after the introduction of RTI Act, each and every citizen can ask about the tax collections and funds and their utilization and government has stopped all routes and means of corruption in all segments of the society. Provincial minister remarked that af-

ter the 18th amendment, the recovery of sales tax is shifted to provinces and Khyber Pakhtunkhwa Revenue Authority (KPRA) is established and is being up-graded with the latest computerized system to enable the sales tax payers to Oile returns and statements through efOicient staff. He said that the provincial government will provide full Oinancial and moral support to HTBA to establish their library and computer labs etc. as Law department of KP government is

agreed to provide special grant in this regard. Earlier, Rashid Javed, acting president of HTBA in his welcome address informed that HTBA is interested to establish well equipped computerized lab and library for the members which will also be made available to the tax machinery to facilitate the tax payers and added that HTBA is regularly holding seminars and workshops to update members with latest changes and policies of KP and FBR.

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SCCI for despatching more missions to Africa for enlarging trade loop PESHAWAR: The Sarhad Chamber of Commerce and Industries asked the federal government to send more and more trade missions to African countries to enlarge the trade circle. He said this while meeting with a delegation of African countries on Wednesday. Speaking to the delegation, Zahidullah Shinwari, President of SCCI, added that the government not only needs to send more missions there but should also appoint commercial consuls with the target based tasks for enhancing trade with African countries. Diplomats from Kenya, Morocco, Somalia, Mauritius and Sudan visited the Sarhad Chamber of Commerce and Industries and shared their views about the current situation and also agreed to the suggestion of the SCCI chief on the increase of trade volume.

romania needs more strong trade ties with pakistan

Friday February 16, 2018

Chambers

LccI & MIccI ink MoU to enhance cooperation

RAWALPINDI

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mbassador of Romania Nicolaie Goia has said that there is a lot of room for promotion of trade between Pakistan and Romania. Romania has vast business opportunities and Pakistani businessmen should come forward and avail these opportunities. While talking to the RCCI President Zahid Latif Khan, Senior Vice President Nasir Mirza, Vice President Khalid Farooq Qazi, Executive Committee members and traders here at the Rawalpindi Chamber of Commerce & Industry, ambassador Nicolaie said that the bilateral ties between Pakistan and Romania could be strengthened by intensifying people to people

contacts. The Romanian Ambassador expressed hope that current bilateral trade volume can be enhanced from $100 million to $500 million. The Ambassador said that Romanian investors are keen to step in joint ventures with their Pakistani counterparts. He said that exchange of delegations between Romania and Pakistan can help boost the bilateral trade volume which at the moment does not match the potential exist in the two countries. The envoy suggested that Pharmaceutical, Machinery, Tourism and Agriculture will serve as promising sectors for boosting bilateral trade. He also lauded RCCI eﬀorts in promoting trade activities in the region. RCCI chief Zahid Latif Khan on this occasion said that Romania has been the fastest growing economy of the European Union with a growth rate of 5.7%. Pakistan and Romania have longstanding cooperation in political, economic, cultural and scientific fields.

ISLAMABAD

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he Lahore Chamber of Commerce & Industry (LCCI) and Malaysian International Chamber of Commerce & Industry (MICCI) have inked a memorandum of understanding to work together for improving trade, commerce and economic relations between the two countries. The LCCI President Malik Tahir Javaid and President MICCI Datuk Wira Jalilah Baba inked the Memorandum of Understanding on behalf of their respective organizations. Members of the LCCI delegation Shahid Nazir, Awais Saeed Piracha, Muhammad Wasim, Haseeb Khawar, Shabbir Bhatti, Malik Muhammad Islam, Muhammad Farooq, Mian Faisal Majeed and Muhammad Arshad Bhatti and ofOicials of Malaysian International Chamber of Commerce & Industry were also present on the occasion. According to the agreement, both Chambers will exchange information relating to their respective markets, trade, economic & industrial policies, investment & foreign ex-

change laws and custom tariffs. LCCI and MICCI will facilitate exchange of delegations between the two countries, identify the areas of investment for mutual beneOits under joint ventures. Both countries will organize trade fairs or export festivals in its region for the beneOit of the guest chamber on a reciprocal basis. They would also identify obstacles in trade and economic cooperation and submission of proposals to overcome them. Both organiza-

tions will also launch and collection of statistical data for exploring possibilities of trade, investment, industrial and technological cooperation. The LCCI presidents Malik Tahir Javaid said that this historic agreement will be proved a milestone and help achieve mutual economic targets. He said that Pakistan is focusing Malaysia as a lucrative destination for Pakistani merchandise. He said that China Pakistan Economic Corridor has created im-

‘pakistan & Malaysia have to share & learn’ LAHORE

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he delegation of the Lahore Chamber of Commerce & Industry Thursday visited industrial areas in Kuala Lumpur and had B-2-B meeting with Malaysian industrialists besides visiting largescale manufacturing units including Auto parts, Rubber, oil palm processing and manufacturing, light manufacturing, pharmaceuticals, medical technology, electronics, tin mining and smelting, logging, and timber processing. Objective of this visit was to set guidelines for knowledge and experience sharing that would be equal beneficial for the private sectors of the two countries. The LCCI President Malik Tahir Javaid was leading the delegation consisting

Shahid Nazir, Awais Saeed Piracha, Muhammad Wasim, Haseeb Khawar, Shabbir Bhatti, Malik Muhammad Islam, Muhammad Farooq, Mian Faisal Majeed and Muhammad Arshad Bhatti. Malaysian top businessmen and government officials were also present on the occasion who gave a detailed briefing to the LCCI delegation about industrial strength and economic reforms of the Malaysian government. The LCCI President Malik Tahir Javaid said that both countries have a lot to share and learn to and from each other therefore private sectors of the two countries should establish more close contacts and ensure exchange of delegation on reciprocal basis. He said that economic diversification and modernization is impressive. Malaysian government deserves appreciation for playing

an active role in industrialization and economic development. While talking about the potential, the LCCI President said that Pakistan is abundant with those resources that are available to just a few countries. He said that Pakistan strategic location is ideal and attractive for the entire world while ChinaPakistan Economic Corridor (CPEC) has added to its importance. He said that textile, food processing, pharmaceutical, auto parts, surgical instruments, sports goods, construction and fertilizer are some of the most important industries of Pakistan while it exports Oinest quality garments, bed linen, cotton cloth, yarn, rice, leather goods, sporting goods, chemicals, surgical instruments, carpets and rugs. He said that agriculture sector of Pakistani produces best quality agri products and also has over 63.89 million labor force.

mense investment opportunities. He urged the Malaysian investors to come here and step into joint ventures with their Pakistani counterparts to reap beneOits of CPEC. He also threw light on infrastructure and energy related projects in Pakistan and invited the Malaysian businessmen for investment. Malik Tahir Javaid said that Malaysian small and medium industries have great potential to Olourish through joint ventures.

fccI hails pM’s plan to broaden tax base resident, Faisalabad Chamber of Commerce & Industry (FCCI) Shabbir Hussain Chawla welcoming Prime Minister’s plan to broaden tax base in Pakistan, said that wealthy and potential nontax payers must be brought into the tax net. In a statement issued. He said that number of tax payers in Pakistan was even less than of Afghanistan which was a point to ponder and hence, broadening the tax net was must to strengthen national economy which was also directly linked with the economic survival of Pakistan. He further said that plugging all loopholes in revenue leakage and broadening of tax net would ultimately benefit the national economy in addition to oﬄoading the existing tax payers who were the main victims of heavy taxation. –CB Report

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Faisalabad Adjudication recovers Rs36.456m FAISALABAD: The Customs Adjudication has collected Rs36.456 million while deciding almost 20 cases during the month of January, 2018. Sources told Customs Today, that Customs Adjudication issued Orders in Original (ONO) in all cases in favor of Anti-Smuggling Organization (ASO) Faisalabad, Mianwali, Jhang, Sargodha, Sara-e-Muhajir and Customs Intelligence and Investigation Faisalabad and Field Intelligence Unit (FIU) Khushab.

Friday, February 16, 2018

CUSTOMS BULLETIN

customs Quetta frustrates smuggling attempt of various auto items & plastic powder QUETTA wAQAr AHMED ANSArI www.customsbulletin.com

he Directorate of Customs Intelligence and Investigation has foiled a bid to smuggle different items including black plastic Dana, tyres, radiators, wheels and other goods worth Rs8million during a special checking. Sources told Customs Today that Director Customs Intelligence and Investigation Quetta Muhammad Akram Chaudhary received a tip-off that some smugglers are trying to smuggle above said items from Quetta into Afghanistan. He constituted a raiding team under the supervision of Superintendent Arif Ali and others. The team enhanced the surveillance near Market Road and started searching vehicles. During the search operation, the team intercepted a truck bearing registration No: AQ-7523 which was going out of Quetta. During the checking, the customs team recovered 60 bags of black plastic Dana, 150 tyres, 100 imported radiators (Japan made) and 50 wheels worth Rs8million. The customs team seized all the items and arrested two smugglers including a

driver who were later identiOied as Qayum Shah and Badshah Khan.

The Directorate of Customs Intelligence and Investigation Quetta

registered an FIR against the smugglers and started investigations. The

team also impounded the truck being used for smuggling.

opf recovers rs3.7 billion from overseas employers ISLAMABAD

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PF has recovered Rs 3.7 billion from overseas employers and distributed among the legal heirs of deceased overseas Pakistanis so far, whose bread earners had expired abroad during work, said Managing Director OPF Habib Ur Rehman Gillani in an interview. Talking to APP here on Tues-

day, he said that OPF has disbursed the bank drafts and cheques amounting to Rs 290.5 million during the year 2017 according to the procedure set out by the host countries. He said that OPF has contributed lot of efforts to recover this amount through ensuring constant follow up of the cases with the help of Pakistani Missions abroad. Managing Director further explained that the recovery of dues in form of blood money and insurance claims is more tedious job as compared to realization of out-standing

amount of salary and end service benefits from employers under the labour laws of host countries. He said that in case of murder of an overseas Pakistanis or accidental death (Including traffic accidents), the determination of compensation depends upon the police report which fixes quantum of responsibility on accused. Such claims depend upon the decisions of the Qazi courts and as such take sufficient time. Gillani said that fixation of the court cases in Saudi Arabia is time consuming job for which we push the matter through Pakistani Mission

and Ministry of Foreign Affairs of Saudi Arabia. He said OPF documents each and every case like court case with the help of legal heirs and process free of cost to materialize the claim of deceased from abroad. He said more than 4200 cases are under process for realization of claims. While talking about the out-standing salaries and end service benefits of repatriated overseas Pakistanis from Saudi Arabia, he said that the M/S Oger and Saad Company of Saudi Arabia were declared defaulted and their matter is subjudice and pending before the court

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for hearing. This office has been pursuing the matter vigorously and hopefully cases will be finalized soon according to the available information, received from Pakistan. Mission he added. He said that OPF has been contributing in number of areas to look after the interest of Pakistani expatriates like resolving their complaints, extending financial assistance, scholarships, discount in tuition fees in OPF schools and colleges, free ambulance service for transportation of dead bodies and provision of housing facilities.