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pAkIStAN’S fIrSt INDEptH NEwSpApEr oN cUStoMS

Daily

Vol 1 Issue No. 289

Karachi, Sat February 6, 2016

KARACHI

MUBEEN HUSSAIN

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he federal government has decided to establish Customs Boarder Security Force (CBSF) to curb billions of rupees daily smuggling from boarders of Iran and Afghanistan.

The decision came after the meeting of National Assembly’s Standing Committee for Finance, Revenue, Economic Affairs, Statistics

Price Rs. 14.00

and Privatization held recently under the chairmanship of Senator Qaiser Ahmad Sheikh.

During a brieOing to the committee, it was revealed that huge corruption is detected due under invoicing and tyres, cloths, cosmetics, electronics items, mobile phones and other items are smuggled by the border very easily. It was also brought to the notice of the participants that more than 5,ooo animals are smuggled to Iran from Quetta on the daily basis.

To curb smuggling, the government has now decided to establish Custom Boarder Security Force consisting of 1000 personnel.

Gul Rehman’s PCA detects Rs 531.147m evasion of taxes, duties in Jan

Customs Preventive seizes 3400kg hashish worth Rs 340m

Chinese, Danish companies to work on 2,320MW projects in Punjab

Hyderabad ASO seizes smuggled goods worth Rs 44.96m

SRB notices likely to deprive country from foreign exchange, warns Younus

The Customs Directorate of PCA has detected evasion of taxes, duties 2016 | SEE pAgE 02 |

The staff of ASO-Customs has seized 3400 kilogram contraband charas | SEE pAgE 03 |

Punjab govt is going to start 2,320 megawatt energy projects in South Punjab | SEE pAgE 04 |

The ASO of Larkana and Sukkur seized smuggle goods worth Rs 44.96m | SEE pAgE 12 |

President of the KCCI Younus Bashir, while appreciating numerous initiatives | SEE pAgE 09 |

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IHC summons Customs Tribunal’s technical member Saturday, February 6, 2016

National

ISLAMABAD: Customs Appellate Tribunal will argue on February 22 regarding its earlier given decisions, which have been challenged before the Islamabad High Court (IHC).

In this regard, an official letter was issued by the IHC, conveying the tribunal to take part in court’s proceedings of customs references.

M/S Mujahid Soap had challenged Customs Appellate Tribunal’s decision and had made respondent a Technical member in the case.

In another appeal, Pakistan Telecommunication Company Limited (PTCL) had also filed an appeal challenging tribunal’s decision and making its party before the IHC.

gul rehman’s pcA detects rs 531.147m evasion of taxes, duties in Jan

fBr likely to release report on gold smuggling within a week KARACHI

S r kHAN

KARACHI

AftAB cHANNA

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he Customs Directorate of Post Clearance AuditKarachi has detected evasion of taxes, duties to the tune of Rs 531.147 million in January 2016 According to sources, Directorate of the PCA under the supervision of Director Gul Rehman detected some 48 cases of tax and duties evasion just in a month.

Among these cases, the audit observations of some 22 cases and contravention report of more than 26 cases have been issued and the importers, who brought loss to the national exchequer, are asked to pay the short paid amount, sources added. “There are cases of short payment of custom duty, sales tax, additional sales tax and income tax, regulatory duty due to misuse of Oifth schedule, sixth schedule and clause 77 part IV, second schedule of income tax for evasion of CD, RD, ST, Addl ST and IT for LED Lights, misdeclaration of classiOication of coated Calcium Carbonate, short payment of custom duty and other taxes due to misdeclaration of classiOication on import of Telecommunication equipment, software and license, misuse of SRO 549(I)/2008, SRO 659(I)/2007 and etc.

In the month of December 2015, Directorate of PCA Karachi had de-

he Federal Board of Revenue (FBR) would release a report on a high profile case of gold smuggling on fake E-forms within a week, it is learnt here.

Sources said that FBR Chairman Nisar Muhammad Khan and Customs Member Nasir Masroor Ahmed have directed the authorities concerned to put extra efforts in order to finalise the report so legal actions could be taken against the accused persons. It is pertinent to mention here that the FBR-Headquarters has already released an interim report on gold smuggling scam, few months ago. It may also be mentioned here that various departments of Pakistan Customs, including Model Customs Collectorate Exports, Port Qasim (Exports) and the Directorate General of Internal Audit-Customs have already conducted investigation into the case during the year2014-15. As per the investigations, it was transpired that billions of rupees gold was exported to different countries on fake E-form in hundreds of numbers. The sources informed that the influential personalities were behind the smuggling of huge quantity of gold, adding that those elements are using their full influence in order to stop the investigation.

tected some 61 cases of tax and duties evasion. In these cases, the audit observations of some 25 cases while contravention reports for 36 cases have been issued and the cases are in adjudication. It is mentioned here that Federal Board of Revenue had posted Gul Rehman as Director PCAKarachi in January 2015 and the ofOicer broke all the records as cases of tax evasion was detected to the tune of Rs 1 billion in six months despite the fact that the directorate is facing

serious issues like shortage of staff etc. Meanwhile, Customs Collectorate Appraisement West has allowed shifting of consignments from the Karachi International Container Terminal (KICT) to CPF Bond. According to details, the Deputy Collector, Appraisement West, Group-V has forwarded a letter to the Deputy Collector, Assistant Collector, Examination KICT, informing about the current status and the orders of the Sindh High Court about the shifting of containers.

“It is informed that the Honourable Court has allowed shifting of impugned consignments to CPF Bond.

Permission for shifting to CPF Bond has already been extended by Collector of Customs, Appraisement-West.

Since the matter is of utmost importance and court’s orders are required to be implemented in letter and spirit, therefore, you are requested to facilitate shifting of these held up containers to CPF Bond on the basis of computer printout of GD.

collectorate Adjudication to issue show cause notices to fabric importers

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KARACHI

wAQAr AHMED ANSArI www.customsbulletin.com

he Collectorate Adjudication has decided to issue show cause notices to fabric importers for evading tax.

Sources told Customs Today that Collectorate Appraisement has prepared a contravention report of 20 consignments for mis-declaration.

The contravention report was submitted to Collectorate Adjudication

for further proceedings.

Collectorate Adjudication has rejected the report because there is no such clause present to pursue the case of mis-declaration. Collectorate Adjudication has said that they were manually amending the clause but now in electronic system only the organization can amend it who has prepared the contravention report.

Sources said that the amendment will be completed within two or three days. Collectorate Adjudi-

cation will issue show cause notices after the amendment.

Meanwhile, Customs Collectorate Appraisement West has allowed shifting of consignments from the Karachi International Container Terminal (KICT) to CPF Bond. According to details, the Deputy Collector, Appraisement West, Group-V has forwarded a letter to the Deputy Collector, Assistant Collector, Examination KICT, informing about the current status and the orders of the Sindh High

Court about the shifting of containers. “It is informed that the Honourable Court has allowed shifting of impugned consignments to CPF Bond. Permission for shifting to CPF Bond has already been extended by Collector of Customs, Appraisement-West. Since the matter is of utmost importance and court’s orders are required to be implemented in letter and spirit, therefore, you are requested to facilitate shifting of these held up containers to CPF Bond on the basis of

computer printout of GD. It may be ensured that the consignments are gate out from KICT and shifted to CPF Bond in compliance of the Honourable Sindh High Court’s orders dated 22.01.2016 under proper escort as per prescribed procedure, the letter added. The representative of importers/clearing agents have been instructed to approach the concerned officers/officials for completion of all formalities, it concluded.

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Sindh Excise collects Rs 0.668m from property tax defaulters KARACHI: Excise and Taxation Department, Sindh has sealed properties of seventy people who are involved in property tax evasion. The department has also successfully collected Rs 0.668 million property tax from twelve defaulters.

Talking to Customs Today, Incharge of Property Tax Survey, Munir Khan Niazi said that they have started an operation against tax defaulters and sealed seventy properties. He said tax notices were sent to tax defaulters but they were avoiding to pay taxes willfully. After their failure the department has decided to seal the properties of these persons.

customs tribunal chairman ghulam Murtaza leaves for Lahore

Saturday February 6, 2016

National

customs preventive seizes 3,400kg hashish worth rs 340m

ISLAMABAD

NAEEM ULLAH tArIQ www.customsbulletin.com

ustoms Appellate Tribunal Chairman Ghulam Murtaza Bhatti on Wednesday left for Lahore after hearing customs appeals at headquarters in Islamabad. The chairman, during his stay in Islamabad, heard cases in single and division bench.

After hearing over 30 cases, he went to Lahore for chairing further hearings at provincial office. According to the tribunal’s official, the chairman had left for Lahore shortly after completing hearing of enlisted cases in Islamabad. H reached the federal capital on Tuesday morning and initiated office task as he joined office.

They said the chairman would hear cases at Lahore for couple of days.

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LHc seeks govt reply on petroleum prices on feb 8 LAHORE

MUHAMMAD NAwAZ www.customsbulletin.com

he Lahore High Court (LHC) has issued notices to the federal government and the Ministry of Petroleum and Natural Resources on a plea filed by Malik Munsif Awan advocate, challenging decrease in petroleum prices. In his plea, the appellant prayed that the government announced decrease in petroleum prices which is not in accordance with the prices of oil in international market. He said that the government announced a cut of Rs 5 per liter in oil prices but according to international oil prices it should be around Rs 30.

He said that the common man should be given the benefits of decreased oil prices. The LHC has accepted the plea for regular hearing and issued notices to the federal government and the Petroleum Ministry to submit their replies on February 8.

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KARACHI

S r kHAN

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he staff of Anti-Smuggling Organization (ASO)-Customs Preventive has seized 3400 kilogram contraband charas (hashish) worth Rs 340 million along with Hino truck registration number TAB-487 and food items including rice, aata (Olour), wheat straw and etc.

This was stated by Collector Preventive Syed Muhammad Tariq Huda while addressing a press conference at Ghans-Bandar, NMB Wharf. Additional Collector Feroz Alam Junejo, Assistant Collector Syed Muhammad Raza Naqvi and other Customs staff were also present on the occasion.

Addressing the press conference, Collector Preventive informed the media that the contraband hashish mingled with other goods was recovered from the said truck at RCD Highway, near Mochko Chowk Point.

The Collector further said that the said successful operation was launched pursuant to the information that the contraband hashish would be mingled with other cargo consignments at Lyari and transported to coastal area of Balochistan for onwards trafOicking/ smuggling to foreign destinations.

“The two occupants of the truck (driver and conductor) namely Abdul Majeed and Muhammad Saleem were arrested and FIR No.ASO-

29/2016 has been lodged in the CNS Court against those two arrested accused accordingly.

The Collector Tariq Huda further said that the ASO-staff during the last one year has been made successful seizures of smuggled/nonduty paid goods and contraband narcotics.

Responding to a query, Collector Preventive said that despite limited resources, the Pakistan Customs is being generated 37per cent to

collector preventive Syed Muhammad tariq Huda while addressing a press conference at ghans-Bandar, NMB wharf.

Additional collector feroz Alam Junejo, Assistant collector Syed Muhammad raza Naqvi and other customs staff were also present on the occasion

customs to start audit of steel consignments KARACHI

S r kHAN

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he Directorate General of Internal Audit-Customs on the directives of the Federal Board of Revenue (FBR) is going to start audit of steel consignments which have been cleared through Customs Appraisement (East), Appraise-

ment (West) and Port Muhammad Bin Qasim, it is learnt here. The sources conOirmed that the authorities concerned of the Directorate General of Internal Audit-Customs would start the audit of the steel consignments from next week. The sources further disclosed that the audit of the importers-cum-exporters would likely to be started from Monday in order to check the veracity of the imported consignments and compare the quantum of the import of steel to the export of steel manufactured goods to

the other country. Responding to a query, the sources informed that the FBR authorities concerned through a letter has directed the authorities of the Directorate General of Internal Audit-Customs to initiate the audit of imported steel consignments for last Oiscal year i.e.2014-15. “The core aim to start the audit of the steel consignments from all three Oield formation Collectorates is to check the import of raw steel and quantum of exported manufactured goods by taking exemption of SRO”, sources added.

38per cent of the total revenue of the country.

“We need more resources in order to enhance our performance, adding that the authorities concerned of Federal Board of Revenue-FBR have already put recommendations regarding the resources before the federal government”, he added.

The Collector was of the view that the industries of the country would not be boosted up without elimination of smuggling activities.

kasur Excise impounds 70 vehicles he Excise and Taxation Department Kasur has seized 70 vehicles because of token tax default.

Sources told Customs Today that excise teams, under the supervision of Excise and Taxation Officer Malik Muhammad Aslam, started crackdown in different cities of the distract Kasur and checked more than 300 vehicles in which 70 vehicles were found token tax defaulters.

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Cotton production decreases by 33.4% to 9.6m bales KARACHI: Heavy rains and pest attacks have caused massive decline in the country’s cotton production by 33.41 per cent to 9.612 million bales from the start of season to February 1 as compared to 14.435 million bales in the corresponding period last year.

According to Pakistan Cotton Ginners Association (PCGA), 5.857 million bales have been produced in the Punjab up to February 1, lower than 10.500 million bales harvested a year earlier. Sindh produced 3.755 million bales as against 3.935 million bales. The pace of cotton arrival into ginning factories has also remained slow.

Cotton accounts for 28.0 percent share in major crops.

Saturday, February 6, 2016

Business

chinese, Danish firms to work on 2,320Mw projects in southern punjab LAHORE

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he Punjab government is going to start 2,320 megawatt energy projects in South Punjab as it has signed different agreements with Chinese and Danish companies. Under the agreement inked between the Punjab government and Denmark, Danish wind power generation international company VESTAS will set up

pIA remains shut for second day KARACHI

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akistan International Airlines remained closed for the second day of protests by the employees against the proposed privatisation of the national-flag carrier as all domestic and international flights were cancelled.

PIA employees resumed their protest outside major airports across the country, which came as the federal government invoked the Essential Services (Maintenance) Act, 1952, in the PIA for six months.

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four wind power plants of 250 mw each at Rajanpur in South Punjab

whereas under the second agreement, renowned Chinese Company

Hauneng Shandong will set up two coal power plants of 660 mw each at Rahimyar Khan. Chief Minister Shahbaz Sharif, who was the chief guest at the event, gave Letter of Intent to Vice President of VESTAS Gerard Carew to set up four wind power plants with total cost of $2 billion which will be done as investment. Talking to the media men on the occasion, Shahbaz Sharif said that last year it was announced that there are vast opportunities of generating energy in South Punjab and sites have been identiOied where plants of generating electricity through wind can be set up.

cement despatches up by 6.38% to 21.3 million tonnes LAHORE

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ement despatches increased by 6.38 per cent to 21.3 million tons from July 15 to Jan 16 as compared to 20.022 million tons during the corresponding period of last Oiscal year.

All Pakistan Cement Manufacturers Association (APCMA) has criticised the indifference shown by the economic planners towards rapidly declining export market.

According to the data released by the APCMA, domestic consumption of cement increased in double digits during the past four months while exports entered the sixth month of heavy decline in double digits calling for serious attention from the policy makers. Substantial reduction in exports has drastically affected foreign exchange earnings of the country and cement makers are Oinding it difOicult to maintain their existence in export markets due to high cost of doing business in Pakistan and non-availability of export incentives. This positive Oigure in overall growth is attrib-

uted to the robust growth in domestic despatches during this period. The local despatches increased to 17.9 million Tons from July 15 to Jan 16 against 15.5 Million Tons during same period of last Oiscal indicating an increase of 15.57%. Contrary to this, exports declined to 3.4 Million Tons from July 15 to Jan 16 against 4.5 Million Tons from July 14 to Jan 15 i.e. by 24.98%. Further analyzing the despatches, factories located in north despatched 14.776 Million Tons in local markets from July 15 to Jan 16 against 12.948 Million Tons during same period of last Oiscal year.

IMf satisfied with pak economic growth, gives nod to $500m tranche ISLAMABAD

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he International Monetary Fund (IMF) has showed satisfaction on Pakistan’s economic growth and the Fund’s executive board has nodded to approve release of $500 million tranche.

Pakistan has so far received $5 billion from the IMF under a 36-month programme supported by an Extended Fund Facility (EFF) arrangement of $6.64 billion approved in 2013. Finance Minister Ishaq Dar and IMF’s mission chief for Pakistan Herald Finger will brief the media on the talks in Dubai Thursday (today). The IMF mission has cancelled its visit to Pakistan, as normally it comes to Islamabad to hold joint press conference with Finance Minister to share the details of the talks with media. Pakistan and IMF held talks from January 26 to February 3 in Dubai for economic review of Extended Fund Facility. The government has succeeded in meeting Rs625 billion budget deficit target for first half (July to December) mainly due to massive taxation. Under the IMF conditions, Pakistan had to restrict budget deficit to Rs625 billion (2.03 per cent of the GDP) during first six months of the current fiscal year.

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over 1,500 imparted training under green business programme LAHORE

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ore than 1500 women and men have been imparted training under Oive value chains of green businesses including wild mushrooms, seashell embellishments, jewellery making, green mussels farming and turkey in Khyber Pakhtunkhwa, Balochistan and GilgitBaltistan. Business for Social Progress

CEO Dr Amena Hasan said this while addressing a launching ceremony of “Green Business Incubator” here. She shared details about the work done under Green Decent Jobs for Socioeconomic Empowerment Project (GDJ4SEEP) with support from International Labour Organization and Department of Foreign Affairs Trade and Development Canada. Under the project work is done to establish SOPs for 5 value chains of green businesses that included wild mush-

rooms, seashell embellishments, jewellery making, green mussels farming, and turkey farming, she said.

“More than 1500 women and men are trained under different value chains in KPK, Baluchistan and GilgitBaltistan,” she said, adding “it is extremely important to provide sustainable market access to the communities involved in sustainable harvesting of natural ingredients and this will be ensured through the Oirst ethical brand of natural ingredients

‘Forest Picks.’” Amena Hasan said the ‘Forest Picks’ aims to offer high value organic and wild harvested products hand-picked from the remote and isolated pristine valleys of northern Pakistan and virgin deserts in the south of the country. Munawar Sultana, Senior Programme OfOicer and OfOicer-in-Charge for the GE4DE project, at International Labour Organization, appreciated the hard work carried out by the team of Business for Social Progress and making it

possible to launch “Forest Picks” the Oirst ethical brand of natural products from Pakistan. She said the ILO sees green jobs as central to sustainable development and we are mandated to help Pakistan shift into a low carbon and sustainable society.

Since most of the economic activities, Pakistani women are involved in, mainly depend on natural resources and hence they are the direct beneOiciaries or vice versa of any transformation in the environment.

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raders can enjoy all benefits of tax amnesty scheme in just three days after joining the scheme, top Federal Board of Revenue (FBR) officials assured business community of metropolitan.

FBR, in bid to include traders in tax net, has motivated its top officials to give awareness to the business community regarding benefits of the tax amnesty scheme.

In this regard, Member Inland Revenue (IR) Policy Rehmatullah Wazir, Member Facilitation and Taxpayer Education Wing Nadeem Dar and Chief Income Tax Policy FBR Vishno Raja Qavi are in Karachi to clear the traders’ reservations over the scheme.

Addressing a seminar on voluntary tax compliance scheme, organised by the Karachi Tax Bar Association, Member Rehmatullah Wazir

said that the traders, who want to join tax amnesty scheme, will be included in the active taxpayers list within three days and be entitled to all the benefits, including exemption from a withholding tax. Wazir said that FBR encourage and facilitate new taxpayers and for the purpose a single-page very simple return form has been designed. He said sales tax registration is not required for availing the amnesty. However, traders filing sales tax returns will not be able to benefit from the scheme, he added.

Addressing on the occasion, Chief Income Tax Policy Vishno Raja Qavi said that the scheme was announced after detailed discussions and deliberations spread over multiple rounds of meetings with representatives of chambers and trade bodies across the country.

About tax amnesty scheme, it was pointed out that the traders can legalise capital of up to Rs50 million by

paying one percent tax of the declared wor ing capital in the tax year 2015.

Under this scheme, three options have be proposed for the traders. Under the first o tion, a trader will have to pay 25 perce higher tax than paid in the last return on t basis of taxable income. Under the second o tion, he can avail himself of three turnov tax slabs, and under the third option, can p a total of Rs30,000 for not paying any tax the last return. It has been suggested th traders will have to pay 25 perce higher tax in 2016-17 and 201 than they paid in 2015 on t basis of taxable income.

(Ir) venue e r d n wazir, er Inla Memb ehmatullah nd r na policy ilitatio ing c a f r e Memb Education w me yer Inco taxpa r and chief avi raja Q s’ m Da o e e n d h s a N der r Vi he tra icy fB t l o r a p e x l c ta to me arachi ver the sche k n i e o ar ations reserv

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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

Banking on foreign loans

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ccording to newspaper reports, the International Monetary Fund has told the government to cut its development budget by 27 percent to contain fiscal deficit within limits and even o the revenue shortfall during the current fiscal year. In fiscal terms, the government will have to cut the development budget by Rs1.111 trillion against Rs1.513trillion approved by parliament and four provinces in June 2015.

The fund also requires the government to limit the expenditure of Public Sector Development Programme at Rs611billion, down 13 percent against Rs700 billion authorised by parliament. The annual development plans of the four provinces will be reduced to Rs500 billion against Rs 813billion allocations by the four provincial assemblies. Earlier, the government assured the IMF that it will lower the budget deficit to place the debt-to-GDP ratio on a downward trajectory and maintain macroeconomic stability to achieve sustainable and inclusive growth. The government is planning to limit the fiscal deficit at 4.3percent of the GDP and assured the fund that it will sustain fiscal consolidation despite missing the target of the budget deficit in the first quarter of 2015-16. It is hoped that government will not ignore the priority areas of the development programmes, including infrastructure, education and healthcare to improve the living standard of the people and safeguard the interests of the vulnerable segments of society. As education, health and social sectors are now the provincial subject, the provinces have agreed with the federal government to maintain the development programmes at 6.5 percent of the GDP despite the collections of the provincial revenues will likely to stay at 1.1percent of the GDP. The Finance Ministry is coordinating with provincial governments to develop a mechanism to gain financial stability on the provincial level during the current fiscal year.

As the government is persuading the IMF for the next tranche of loan, it has failed to introduce any austerity measure on the oďŹƒcial level. The business community is already under pressure due to various reasons, including energy crisis, terrorism, rising cost of production and cancellation of orders from foreign buyers which is causing decline in the export volume.

Declining trends in export sector T

LAHORE

Dr AftAB AfZAL

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he Pakistani exports are falling and the euphoria which gripped ofOicials and business circles of the country two years ago after gaining duty-free access to the EU market has evaporated. The business community blames the government for increasing cost of production as the countries in the region offer the same quality products at low prices. The government holds the economic slowdown in Europe and low quality of products responsible for the declining trends. However, the fact remains the country needs to revise its economic, trade and business policies. The world is

changing at a fast rate and depending on old methods and offering traditional products for exports will only bring failures and disappointments. If the government wants to include this nation into the list of developed countries, it will have to change the perception of the economy. According to European Union Ambassador to Pakistan Jean Francois Cautain, if Pakistani business community wants to take full advantages of the GSP Plus, it will have to break away from the past trade stereotypes and should concentrate on opportunities in sectors other the textile and leather. The businessmen should understand that business ethics and standard are different in Europe and they have to diversify their products. The ambassa-

dor correctly pointed out the trouble areas which are not only causing decline in exports but also causing to lose the European market.

The government should have to facilitate exporters and the business community should have to look beyond the textile and leather sectors. The ambassador also advised the government to develop its value added sectors as the country will continue to enjoy GSP Plus status for another eight years. The country also needs to develop infrastructure and encourage the business community to invest in potential sectors. It should be noted that textile exports registered a decline of $1.21 billion during 2014-15 and further lost $1.37 billion in the Oirst Oive months of the current Oiscal year.The cause of

concern is that many regional countries have enhanced their exports volume up 20 percent in two years, but Pakistan could obtained only a meager share of the business in the European market and the government and business community are still unprepared to Oind the fault line.The drop in exports is big question mark on the ability of the country to take advantage of trade and business opportunities.

Pakistan has abundantly acquired a negative image in the world due to terrorism and extremism. The government has to Oight on three fronts – it should mend the ways of government ofOicials to control corruption, enhance business to business contacts with other countries and promote the soft image of the country.

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GM drives to record profit of $9.7b NEW YORK: Strong earnings in North America and China and a reversal of fortunes in Europe powered General Motors to a record net profit of US$9.7 billion last year.

The profit more than doubled GM’s 2014 earnings and was aided by a US$3.9 billion fourth-quarter accounting gain because the company expects to be profitable in Europe this year.

Excluding special items, GM made US$5.02 per share for the year, beating Wall Street estimates of US$4.82. Profits were fueled by strong SUV and truck sales in North America.

Full-year revenue fell just over 2 percent to US$152.4 billion, but still beat analyst estimates of US$144.9 billion. Most of GM’s 49,600 hourly workers will get US$11,000 profit-sharing checks on February 26.

traders show dissatisfaction over insufficient cut in prices of poL products usinessmen in a meeting at Islamabad Chamber of Commerce and Industry have shown resentment over insufficient cut in the prices of POL products despite the fact that price of crude oil in international market has come down to below $35/per liter showing a fall of over 60% from its peak price and called for Rs.10 to Rs.15 per liter reduction in POL prices to pass on the full benefit of reduced oil prices in the international market to the consumers. Atif Ikram Sheikh

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President, Sheikh Pervez Ahmed Senior Vice President and Sheikh Abdul Waheed Vice President, Islamabad Chamber of Commerce and Industry said that historic fall in international oil prices has created a good opportunity for the government to provide relief to the common man and create conducive environment for growth of business activities, but instead of sharing its full benefit with the consumers, government has announced a meager cut of Rs.5 per liter across all categories of POL products which has deprived the people of much awaited relief. They also criticized the imposition of fixed sales tax on POL products irrespective of increase/decrease in their prices as this mode would badly hurt business and industrial activities and put unnecessary pressure on the common man, especially in a scenario of falling petroleum prices in the international market.—CB Report

Saturday February 6, 2016

Chambers

SrB notices likely to deprive country of foreign exchange: Younus P

KARACHI

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resident of the Karachi Chamber of Commerce and Industry (KCCI) Younus Muhammad Bashir, while appreciating numerous initiatives taken by the Sindh Revenue Board (SRB) towards enhancing the revenue collection of Sindh province, said that SRB should be very careful and act wisely in deciding which sectors really need to be taxed as any unwise decision, in this regard, may prove detrimental for the economy.

Referring to SRB’s decision to impose 14 percent sales tax on indenting businesses, President KCCI stated that this unjust tax was likely to result in depriving the country from the desperately needed foreign exchange being earned by the indenters who are struggling really hard to stay aOloat due to intense competitive environment.

President KCCI Younus Muhammad Bashir was exchanging views during a special meeting held to discuss and seek recommendations for Sindh Budget 2016-17. Besides Younus Bashir, the meeting was also

attended by Former President KCCI AQ Khalil, who is also leading a Committee formed to look into the issue of services tax on Indenters, Senior Vice President Zia Ahmed Khan, Former President Khalid Firoz, Chairman Provincial & Local Taxes SubCommittee KCCI Azhar Wasimpuri, Former SVP KCCI Muhammad Ibrahim Kasumbi and KCCI Managing Committee members.

Keeping in view the grievances being faced by concerned business-

men, President KCCI requested the SRB to stop sending notices to indenters as the question whether this unjust tax should be really imposed on indenters or not is yet to be resolved and negotiations between all stakeholders, SRB and Sindh government were underway in order to look for a feasible solution.

“It was highly unfair to demand such an irrational tax from indenters who have been earning foreign exchange for the country and in-

govt asked to impose duty on Iranian cement

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LAHORE

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he cement manufacturers have urged the government to impose regulatory duty on cement imports from Iran to save the local industry.

All Pakistan Cement Manufacturers Association (APCMA) Chairman Mohammad Ali Tabba, in a statement, said that the cement imports from Iran have touched alarming levels. “Over the last year larger and larger quantities are arriving daily and now the quantities are at an alarmingly high-level reaching about 2,000 tons per day.”

Ali Tabba alleged that despite statutory customs duty of 20%, the Iranian cement is selling at the price levels of 40% below the retail price of domestically produced cement in the Balochistan market due to con-

nivance of customs ofOicials.

“As a result the local markets in the areas adjacent to the Iranian border as well as the coastal area of Balochistan are Olooded with Iranian cement,” he added.

It is to be noted that cement imports from Iran are coming through the Iran-Pakistan border via land routes and through railway, he said, adding, “Consequently, domestically produced cement is fast losing market as it is unable to compete with this Iranian cement because of the evasion of duties and taxes. Secondly they are also not complaint with PSQCA.” Meanwhile, The business community has demanded the government to transfer the actual and whole beneOit of reduction in oil prices in the international market to the industry. All Pakistan Business Forum (APBF) President Ibrahim Qureshi, in a statement, explained that in the world market, the light

crude has dropped by 52.77 per cent to $26 per barrel from $55 in January 2015, but the government reduced petrol and diesel prices by a meagre 3 to 6 percent during last one year.

The Oil and Gas Regulatory Authority (Ogra) has recommended reduction of up to 21 per cent in prices of petroleum products for the month of February but govt passed on partial beneOit of just Rs5. “The slight cut in petroleum prices is not a reOlection of the huge drop of more than 50 percent oil price in the international market,” he said, adding that the Ogra recommended reduction of up to 21 per cent in prices of petroleum products for the month of February, based on existing tax rates but the government has declared very slight cut.

Quoting the energy experts, Ibrahim Qureshi said that the prices could be brought down by up to 50pc if the general sales tax rate was reverted to the normal 17 percent.

stead of appreciating their efforts, the government has decided to penalize them by imposing such an illogical and groundless tax”, he added. He pointed out that the indenters are not liable to pay service tax because they are not providing any local services and they are already paying 5 percent Withholding Tax (WHT) to the federal government on such export earnings.

Recalling Chairman SRB’s last visit to Karachi Chamber.

rccI urges govt to supply uninterrupted gas to industries he local business community has demanded the government to supply gas to industrial sectors uninterruptedly.

Rawalpindi Chamber of Commerce and Industry (RCCI) President Mian Hamyun Pervez, while talking to APP, said that gas should be provided to industrial zone and domestic users on priority. The president said that despite closure of CNG stations, the industry and domestic users are still facing gas shortage. He said observed under the prevailing energy situation, the industrial sector was facing problems as factories were unable to meet production targets which ultimately hampering business activities.—CB Report

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Korea’s cigarette imports surge in 2015 Saturday February 6, 2016

World

SEOUL: Korea’s cigarette imports surged in 2015 after contracting for four straight years despite government efforts to discourage smoking by sharply raising prices, official data showed Thursday.

Imports of cigarettes spiked 117.3 percent on-year to over US$34.56 million in 2015, with the volume also increasing 128.1 percent to 1,877 tons, the Korea Customs Service (KCS) said. In 2014, the value of tobacco imports sank 14.4 percent from the previous year to $15.9 million and the volume plunged 15.4 percent to 823 tons.

Imports peaked in 2011 when the country purchased $38.7 million worth of cigarettes from abroad totaling 1,945 tons.

US police seize 10,000 bags of heroin NEW JERSEY

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wo Bronx women were arrested Tuesday afternoon after they delivered 10,000 bags of heroin to undercover detectives in the parking lot of a supermarket on Rt. 36 in Keyport, police said here the other day.

Investigators seized 10,000 bags of heroin with an estimated street value of as much as $100,000, acting Monmouth County Prosecutor Chris Gramiccioni’s ofOice said. Vikky Morel, 26, and Niudis Vazquez-Moncion, 34, both of the Bronx, were both charged with possession, as well as Oirst-degree possession with intent to distribute.

It was all part of a joint two-week undercover operation by the Monmouth County Prosecutor’s OfOice and the Keyport Police Department after police learned a New York City-

philippines police seize shabu worth p20,000 olice arrested three persons and seized P20,000-worth of suspected shabu in separate antidrug operations in Lapu-Lapu City last Saturday. Joel Dela Serna, 43, and Jade Balungcas, 26, were arrested a few meters from the Lapu-Lapu City Hall in barangay Pajo where they allegedly sold shabu to a poseur-buyer past 5 p.m. Saturday. Police said they seized from Dela Serna’s possession 18 sachets of suspected shabu, P200 in marked money and assorted drugsniffing paraphernalia. Balungcas yielded a sachet of suspected shabu and drug paraphernalia, police said.

A separate buy-bust operation past 8 p.m. led to the arrest of Armando Dungog in barangay Canjulao.

Police said 14 pieces of suspected shabu and P200 in marked money were confiscated from the suspect’s possession.—CB Report

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based heroin ring was interested in extending its network into Monmouth County.

The undercover operation led to an arrangement between the ofOicers and Morel and Vazquez-Moncion, for the delivery of the drugs.

“The arrests of these two defendants should serve as a deterrent to others who think they are going to peddle heroin on our streets,” said the county prosecutor.

Meanwhile, Border Patrol agents working at the U.S. Border Patrol Checkpoint in San Clemente seized more than 38 pounds of crystal methamphetamine that was stashed within plastic bottles hidden inside the gas tank of a SUV here the other day. At about 3:15 p.m., agents encountered the SUV, a 2004 Jeep Liberty driven by a 21year-old male U.S. citizen. After the initial checkpoint inspection, the Jeep Liberty was referred to a secondary inspection, where a Border Patrol K-9 alerted to the undercarriage of the vehicle.

Shanghai customs seizes 2,000 turtles from smugglers SHANGHAI

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he Shanghai customs on Jan. 27 said more than 2,000 turtles had been intercepted from smugglers, which include some threatened species such as the black pond turtles, Amboina box turtles and pig-nosed turtles.

On Nov. 19 last year, an international shipping company in Shanghai declared import of eight boxes of crabs, weighing 221 kilograms, from Indonesia. Customs staff found the goods suspicious so they opened the boxes and checked the goods.

“When we opened the cartons, we found crabs on the upper layer and a great number of little turtles beneath the crabs. We counted them and there were more than 2,000 turtles,” said Wu Bin, director of the Customs Materials Control Department of Shang-

hai Pudong International Airport. Wu said the case has been handed over to the anti-smuggling department for further investigation, and the smuggled turtles have been sent to Shanghai zoos. The Shanghai customs stopped 1,861 smuggling cases last year, worth 8.56 billion yuan in total.

Meanwhile, The Post OfOice stationed

by Qingdao Customs District seized

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antlers of red deer, which is enlisted into Class II Protected Species by China, from within a postal parcel sent from Japan. Because the recipient had no relevant import license, the antlers were withheld by the Customs. On that day, when examining the parcel declared as “toys” by X-ray machine, customs ofOicers found its image unusual, and then.

ten arrested in Netherlands over Iran establishes first brain bank has established its Oirst brain the causes of Parkinson’s, autism Bitcoin money-laundering allegations ran bank at Iran University of Med- and movement disorders. The spe-

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utch police have arrested 10 people in the Netherlands as part of an international investigation into money-laundering through sales of the shadowy virtual currency bitcoin, prosecutors said here the other day.

Fifteen places were raided Tuesday in eight Dutch towns as part of the investigation, during which luxury cars, cash and the ingredients to make ecstasy were seized. “Bank accounts and bitcoin accounts were also seized thanks to help from the

United States, Australia, Morocco and Lithuania,” the Dutch prosecution service said in a statement.

The alarm had been raised by banks which had seen “large sums of money” being deposited before being immediately withdrawn at cashpoints. The amount of money involved was not revealed. Criminals working in the shadows of the dark web – illicit sites trading in everything from firearms to drugs – are often paid in a virtual currency, known as bitcoins.—CB Report

ical Sciences, in Tehran, to promote research on diseases pertaining to the neurological system including Alzheimer’s and Multiple Sclerosis, said Dr. Mohammad-Taqi Joghataei, who is in charge of the bank, according to The Iran Daily, IRNA reported.

“In certain countries, brain banks have been in operation for the past 20 years. Such banks are of great importance since they provide scientists the opportunity to conduct research on human brains rather than lab animals to come up with

cialist said that Iran’s brain bank was designed based on European models. “Brain of those declared brain-dead who also suffered from a type of neurological disease can feed the brain bank. Also, sections of the brain tissue in patients suffering from brain tumor are removed and can be donated to the bank for research,” he said. Joghataei, who doubles as secretary of Stem Cell Headquarters for Neurological Sciences, said that brain donation should be done with the full consent of family members. —CB Report

Beijing cracks $8b investment fraud case, arrests 21

B BEIJING

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eijing police have busted a major fraud ring accused of using E Rent Treasure, an online Oinancial platform, to illegally collect up to 50 billion yuan ($7.6 billion) in funds, harming 900,000 investors across 31 provinces and

regions, according to the Beijing Public Security Bureau.

Ding Ning, former chairman of Yucheng International Group, the owner of E Rent Treasure, has been arrested by a Beijing prosecuting department on suspicion of fundraising fraud, illegally acquiring funds and possessing Oirearms.

Twenty other senior managers in the company have also been ar-

rested by national prosecuting departments on suspicion of illegally acquiring funds from investors.

In February 2014, Yucheng International Group purchased a Beijing network and technology company. In July, Yucheng changed the company’s name to E Rent Treasure, operating it as an online financial company. Fake information Yucheng was registered abroad and

consisted of eight business operation centers across the country, including in Beijing, Shanghai and Anhui province, that allegedly used fake information and fabricated financing and leasing projects, according to the Beijing Public Security Bureau. The group allegedly lured members of the public to invest money, promising returns of 9 percent to 14 percent.

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SOCAR’s oil shipments via Russia up 52% in Jan BAKU: Azerbaijan’s SOCAR shipped 258,000 tonnes of oil via Russia in January 2016, up from 169,507 tonnes in the same period last year, the state energy company said on Monday. Oil exports via Russia for the whole of 2015 totalled 1.27 million tonnes, up from 1.02 million in 2014.

A one-year contract between SOCAR and Russian oil pipeline operator Transneft envisages shipment of 1.4 million tonnes of oil through the Baku-Novorossiisk pipeline in 2016. Azerbaijan also exports its oil through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey, the Baku-Supsa pipeline via Georgia and by rail via Georgia.

Shanghai port imports over 400,000 automobiles in 2015

Ports & Shipping

94,704-tonne cargos on 2,525 tEUs arrive at pQ

hanghai port imported over 400,000 finished automobiles in 2015, becoming the country’s largest port of its kind, according to Shanghai Customs District on Wednesday.

Statistics shows that among all automobile importers, those importing Ferrari, Maserati, McLaren, Bentley, Lamborghini and Volvo chose Shanghai port as their sole port for imports. It used to take more than a week to release imported cars after they arrived to the port, but the time was shortened to three days now that the valuation process is conducted before customs clearance, according to Shanghai Customs District. The reduced time will help import businesses save storage costs and shorten the supply chain. “All finished Volvo

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cars sold in China are imported from Shanghai port because of its high efficiency, ” said Li Da, director of logistics department of Volvo Car Sales (Shanghai) Co., Ltd, “we imported 15,000 cars last year.” Meanwhile, Iron ore stockpiles at China’s ports will probably surge above 100 million metric tons within weeks as low-cost supplies rise and steel mills rein in output over a nationwide, week-long holiday, according to China Merchants Futures Co. “The increase will be driven by higher shipments from Australia and Brazil, especially in the final months of 2015, against a seasonally weak period for China demand,” Zhao Chaoyue, an analyst at China Merchants Futures, said by phone on Monday. Zhao predicted the target may be breached before the Lunar New Year break, which starts Feb.—CB Report

hree ships carrying containers and edible oil were berthed at Qasim International containers terminals and liquid cargo terminal respectively.

Meanwhile six, more ships carrying containers, chemical, diesel oil and LPG Mix also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was 75% at the port on Wednesday where a

total eight ships namely Maersk Hartford, CGM Mollere, Ping An Song, Zante, Athinoula, Maria, SCF Plymouth and Chemroad Sea are currently occupying berths to load/ofOlaod containers, rice, general cargo, canola seed, LPG Mix, diesel oil and edible oil respectively during last 24 hours.

A cargo volume of 94,704 tonnes comprising 69,587 tonnes imports and 25,117 tonnes exports inclusive of containerised cargo carried in 2,525 containers (TEUs) was handled at the port during last 24 hours.

Meanwhile, Two ships carrying

containers and chemical were berthed at Qasim International Container Terminals and Engro Vopak Terminal, respectively.

Meanwhile, three more ships carrying Edible Oil, G Cargo and Furnace Oil also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was 55% at the port on Monday where a total six ships namely Cap Madrid, MSC Albary, Rising, Golden Helwa, Gashem Antartic and Alpine Light are currently occupying berths to load/ofOload containers, cement, canola seed, chemical and crude oil respectively, during last 24 hours.

Saturday February 6, 2016

western Australia ports reopen after cyclone he ports of Hedland and Dampier have reopened following closure because of a cyclone Stan, which has weakened to a tropical low. At Port Hedland, the inner and outer anchorages were opened on Sunday following a total closure of 65.8 hours, while the inner harbour reopened after being closed for 48.8 hours, the Pilbara Ports Authority said in a statement.

At Dampier, port facilities and anchorages also opened on January 31, while port operations at Ashburton were unaffected. The ports are important for iron ore exports, with Port Hedland accounting for about 30% of the global seaborne trade. It handled a record annual throughput of 447m tonnes in the 2014-2015 period. Meanwhile, Oil-byrail shipments to California plunged 69 percent last year compared with 2014, according to state data released on Jan. 28. The California Energy Commission said California received 1,762,369 barrels of crude via train last year, or 4,828 barrels per day. That is down from 5,737,081 barrels in 2014, or 15,718 bpd. The tally fell throughout the year, starting at a high of 11,061 bpd in January to 949 bpd in December, the data showed. Total amounts for both years are less than 1 percent of the average 1.7 million bpd of crude processed by California refineries.

The highest amount moved by rail to the state in any month remains 1.18 million barrels, or 38,085 bpd, in December 2013, CEC data show.—CB Report

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Lenovo’s tablet shipments fall 13.5% in Q4

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WASHINGTON

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enovo’s tablet shipments fell 13.5 percent during the crucial holiday season, which nonetheless was slightly better than the overall market, according to market research Oirm IDC. IDC reported that tablet shipments worldwide dropped 13.7 percent in the fourth quarter compared to a year ago. Consequently, Lenovo maintained the 4.8 percent market

share it posted a year ago even as the number of tablets its shipped fell from 3.7 million to 3.2 million.

But the company, which ranked third among tablet makers in the third quarter, slipped to fourth in the fourth quarter as Amazon vaulted ahead with a 175.7 percent jump in shipments thanks to the popularity of its $50 Kindle Fire tablet. That inexpensive tablet “was the holiday season’s surprise hit,” IDC reported.

IDC expects Lenovo to gain market share in 2016 based on the “savoir faire” of its Yoga, MiiX and Thinkpad

brands. Lenovo, which ranks Oirst in PCs and fourth in smartphones, is based in China but has a headquarters in Morrisville. Apple ranked No. 1 with a 24.5 percent share of the tablet market in the fourth quarter, but its shipments declined by 24.8 percent. Samsung ranked second with a 13.7 percent market share despite an 18.1 percent decline in shipments. For the full year 2015, Lenovo ranked third behind Apple and Samsung with a 5.4 percent market share after shipping four-tenths of a percent more tablets – roughly 11.2 mil-

lion units. The overall tablet market declined 10.1 percent for the year.

Meanwhile, Lenovo maintained its No. 4 ranking in smartphone shipments in the fourth quarter even though its worldwide shipments plunged 18.1 percent, according to new market data. Overall, worldwide smartphone shipments rose 5.7 percent from a year earlier to a new record – 399.5 million units shipped, market research Oirm IDC reported.

Lenovo shipped 20.2 million smartphones in the fourth quarter, down from 24.7 million a year earlier.

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Sialkot ASO seizes cigarettes, cloth worth Rs 1.6m SIALKOT: The Customs Anti-Smuggling Organisation (ASO) has confiscated smuggled cigarettes, cloth and juices worth Rs 1.6 million during an action. Talking to Customs Today, the ASO spokesperson said that noose was being tightened around the smugglers’ neck following the directions of the Sialkot Customs collector.

He said that the smuggled items will not be allowed to be sold in the market, adding that stringent legal action will be taken against those traders/shopkeepers who found involved in selling smuggled items.

Saturday, February 6, 2016

CUSTOMS BULLETIN

Hyderabad ASo seizes smuggled goods worth rs 44.96 million HYDERABAD ASLAM ANJUM QUrESHI www.customsbulletin.com

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he Anti-Smuggling Organizations of Larkana and Sukkur seized smuggle goods worth Rs 44.96 million during different raids.

Sources told Customs Today that Collector Hyderabad Dr Ahmed Mujtabad Memon directed his staff to curb smuggling attempts in the region. The ASO team under the supervision of Additional Collector Omar Shafique conducted different operations in Hyderabad and Sukkar and Larkana areas and recovered a huge quantity of smuggled items.

The teams comprised Superintendent Sikander Akber Pahnwar Deputy Superintendent Anwar Ahmed Siddique, Inspector Waqar Ahmed Baig Inspector Nazim Ali , Inspector Mushtaq Ali Lakho, sepoyes Aslam Chohan, Sadiq Ali , Mehmood Khan.

The seized items include cloth, tyers and tube, auto parts, diesel, foreign origin cigarette, electronic goods, blankets, medicine, dinner set crockery, gutka, and others contraband goods items.

Voluntary tax scheme to help expand tax net: Naushad Ali ISLAMABAD

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egional Tax Office (RTO) Chief Commissioner Naushad Ali Khan chaired a briefing on “Voluntary Tax Payment Scheme”, pledging that the new scheme would help increasing tax-net and build traders’ confidence in the Federal Board of Revenue (FBR). the brieOing took place at the Re-

gional Tax OfOice, Islamabad, and was attended by a delegations of traders and business community led by the President of All Pakistan Anjuman-e-Tajran (APAT), Muhammad Ajmal Baloch. He was accompanied by ofOice bearers of Islamabad’s traders associations including Sardar Tahir Mehmood, Chaudhry M Irfan, Zahid TouOiq, Abid Khan, Syed Nadeem Mansor and others. Talking with traders, the RTO chief commissioner applauded FBR’s new policy to enhance tax-net while expressing the determination to overcome the hurdles likely to encounter the newly draft “Voluntary

Tax Payment Scheme”, – spelled in Urdu as “Raza Karana Tax Adaiggi Scheme”. “It is a four year scheme, 2015-2018”, Chief Commissioner Naushad said, adding that traders could show working capital upto Rs 50 million. He said prime objective of this scheme was to facilitate traders and to bring them into tax net. In this regard, the tax ration was reduced up to .02 percent on turnover less than Rs 50 million.

Furthermore, the entrants in the scheme would get amnesty from audit of their revenue involved for four years, he said. He underscored that, both, tax Oilers and non-Oilers could

take beneOit of the scheme. Highlighting the target traders of the scheme, he said that traders, who included, sellers, purchasers were main target of this scheme who deal marketing without changing the item. Other than these, people who were dealing and repairing and maintenance of such item could also take beneOit of the said scheme, Naushad stated. Chief Commissioner replied to questions posed by traders and ensured them that the scheme would continue whatsoever the changes takes place at country’s government. “Scheme will sustain even in the tenure of upcoming gov-

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi

ernments”, Naushad said. “This scheme is formed after intensive consultation with traders and it will beneOit you”, he claimed while replying traders’ questions. Moreover, he said that he had established mobile unites to address complaints by traders and markets of Islamabad.

“If you have any complaints then may report for to mobile unites for immediate action”, he asked traders.

He also acknowledged and appreciated the idea that FBR facilitation units must be established at branches of banks and pledged that he would put this suggestion with high-ups on the board.