Thursday, 8 February 2018

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TARIQ DERYA

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he North Region generated Rs 242 million extra revenue under all the heads against the target set for the month of January FY17-18.

According to details given by ofRicial sources of the North Region, which comprises Model Customs Collectorates of Islamabad, Peshawar, Gilgit-Baltistan and Samberial, that the North Region earned Rs 3,117 million of all taxes during January FY17-18 while it was assigned Rs 2,874 million target.

Sources told Customs Today that during the month of January, the MCC Islamabad received Rs 1,774 million as all taxes whereas it was allocated Rs 1,260 million target for the month of January FY17-18. The MCC Islamabad earned Rs 514

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million extra revenue under all heads against the set revenue target. Sources informed CT that the MCC Peshawar surpassed the assigned revenue collection target under all heads with an extra amount of Rs126.12million against an allocated revenue collection target. The MCC Peshawar collected Rs 1,858.91 million under the head of all taxes during the month of January whereas it was earmarked a revenue collection target of Rs 1,732.79 million.

The MCC Gilgit-Baltistan remained still closed since November FY17-18 and will be opened for business activities in the month of April FY17-18.

It was notiRied that the MCC Samberial generated Rs518million under all heads during January FY17-18 while it was assigned Rs.-118million under the same heads for the month of January FY17-18. It made a difference of Rs 399.77million against the earmarked revenue collection target.

Customs earns Rs 1 million more revenue than allocated target

DG Surriya to revise valuation of tubular metal needles on March 30

Customs Preventive foils bid to smuggle 20kg heroin from Lahore Airport

PM Abbasi offers connecting CPEC with six routes of SCO

Peshawar Customs collects Rs1905.13 million

Customs North Region generated an extra revenue of Rs1million | SEE pAgE 02 |

DG Valuation has decided to revise the ValuationRulingNo:740/2015onMarch30 | SEE pAgE 03 |

CustomsPreventiveteamdeputedatLahore Airport foiled an attempt to smuggle | SEE pAgE 04 |

PM offered to connect CPEC with six approved routes of SCO to enhance region’s | SEE pAgE 14 |

Customs Collectorate made a total of Rs1905.13 million revenue collections | SEE pAgE 16 |

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State Warehouse BBIA receives Rs1.9m by auctioning off seized items Thursday, February 8, 2018

ISLAMABAD: The State Warehouse (SWH) BBIA Islamabad earned a revenue of Rs1.9million through open public auction of various confiscated goods held on the premises of the AFU building of January FY17-18.

According to details given by Assistant Collector Majid Hussain Gadd whil talking with Customs Today that, during above said auction held at the State Ware House (SWH) Islamabad, total five lots were offered for the auction. The total reserved price of the lots was estimated Rs1.09million while the received bid price was Rs1.81million plus Rs0.181million under the head of Income Tax (IT).

Islamabad

customs earns Rs1 million more revenue than allocated target

ISLAMABAD

ISLAMABAD

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he performance of Federal Board of Revenue, during the first quarter of the current Fiscal Year, has been positive and satisfactory, as opposed to the impression conveyed by a section of press. The insinuation that FBR has missed its budgetary target for the period July to January by an imaginary figure of Rs 74 billion is baseless and misconceived, the FBR clarified in a statement. It is pertinent to mention that no monthly, quarterly or half yearly revenue target have been assigned to FBR. The question of missing the seven monthly target therefore does not arise as no such target exists.

The target assigned to the FBR is to collect Rs 4013 billion in the current fiscal year through generating revenue growth of 19.2% over the revenue collection for the last fiscal Year. FBR has clocked provisional collection of Rs 2,000 billion for the first seven months of the fiscal year. This impressive performance is despite the fact that during the current year 33% more amount has been issued as refund/rebate as compared with the previous year. In the month of January 2018 alone FBR as per the provisional figures has collected Rs 273 billion as against Rs 228 billion in January 2017.

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he Customs North Region generated an extra revenue of Rs1million within 30 days of January FY17-18 against an earmarked revenue collection target under all the heads for the entire month. According to details explained by official sources of the chief collector office Islamabad that the North Region, which comprises Collectorates of Islamabad, Peshawar, Sambrial and GilgitBaltistan (GB), received a revenue of Rs2875million under all the heads during 30 days of January while it was allocated Rs2874million revenue target.

The North Region proved 0.03% of difference under all the heads in 30 days of January against an assigned revenue collection target for the whole month. The North earned Rs600million additional revenue during 30 days of January FY17-18 against the full month of January FY16-17. The North collected Rs2249million under all the heads during January FY16-17.

The Customs North Region got an extra revenue of Rs6752million under all the heads against an earmarked revenue collection target for the first half (July to December) FY17-18 while it generated Rs7591million extra revenue during first half of FY17-18 under the

fBR says no missing of target; revenue collection on track

same head against the same corresponding period FY16-17.

It was disclosed that the North received Rs24281million of revenue under the head of all taxes while it was allocated Rs17529million of revenue during first half of

FY17-18. The North earned Rs16890million under the same head during the same period of previous FY16-17.

The sources told CT that North Region showed 138% of achievement against an assigned revenue

target for first six months of FY1718. It was added that the North proved 143% of growth under all the heads during first half of FY1718 against a revenue collection during the same period of corresponding FY16-17.

‘govt mulling over proposal to cut tax rate for broadening tax base’

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ISLAMABAD

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rime Minister Shahid Khaqan Abbasi has said the government is mulling over a proposal of reducing tax rates in order to facilitate documentation of economy and broadening of the tax base.

The prime minister said at a meeting with a delegation of Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

headed by its President Ghazanfar Bilour, which visited the PM House.

Muhammad Pervez Malik, Minister for Commerce & Textile was also present during the meeting.

The prime minister said that private sector should play a leading role towards enhancement of country’s exports.

“The government will welcome the proposals from the private sector and will continue to facilitate the business community in every possible manner.” The prime min-

ister welcomed the delegation and congratulated the newly elected office-bearers of the FPCCI. Recounting various measures that have been taken by the government for facilitation of the business community, the prime minister said that the government was actively working on improving ease of doing business in the country. The prime minister said that a policy was also under consideration to encourage people bring their capital back to the country

and invest in productive sectors of economy. Issues relating to various sectors of the economy, ease of doing business, enhancement of country’s export, input costs and taxation issues were discussed during the meeting.

The delegation appreciated the steps taken by the present government especially addressing law & order, the energy crisis and taking the business community and other stakeholders onboard in putting in place a business-friendly environ-

ment in the country. Highlighting certain issues faced by the business community, the delegation members presented various proposals aimed at further facilitation of the business community, reducing input costs and taking other necessary measures for boosting confidence of the business community and capitalizing trade potential of the country especially enhancement of trade with international trade partners and organizations.

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SHC adjourns hearing of petition by construction company KARACHI: Sindh High Court (SHC) has adjourned hearing of a petition ďŹ led by Rising Construction Company seeking release of an imported vehicle.

A division bench had ordered Pakistan Customs on May 31, 2017 to release the vehicle in the presence of Nazir of SHC. Pakistan Customs allowed the release but Karachi International Container Terminal (KICT) authorities refused to free the vehicle as demurrage worth Rs10 million have accumulated in the intervening period. The customs show caused the KICT but they refused to reply and entertain the request on ground that they have an order of restraint passed by another bench of SHC.

Adjudication-II recovers Rs 6.48m from m/s usman Textile & Exports

Thursday February 8, 2018

Karachi

Dg Surriya to revise valuation of tubular metal needles on march 30

KARACHI

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he Customs Adjudication-II showed excellent performance by taking actions against tax defaulters and issuing notices during the 25 days of January. Sources told Customs Today that the Customs Adjudication-II served a final notice on a defaulter company named M/s Usman Textile and Export Karachi and recovered Rs 6.48 million from M/s Sarfaraz Handicrafts Hyderabad. M/s Usman Textile and Export Karachi was involved in the tax evasion. The company imported a consignment of used and new digital cameras on November 14, 2017 and used the wrong Pakistan Custom Tariff heading.

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Shc serves notice on port Qasim, East collectors KARACHI

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he Sindh High Court (SHC) has served notices on Port Muhammad Bin Qasim and East Collectors for Jan 30 in a grey fabric import case.

The bench, comprising Justice Munib Akhtar and Justice Mrs Ashraf Jahan, was hearing a Criminal Original application filed under Article 204 (Contempt Act). The applicants/importers of grey fabric moved the applications as alleged contemnors in violation of orders of the SHC and SCP kept the consignments detained. Earlier a lawyer from Franklin Law Associates appearing for the applicants maintained that non release of consignments despite orders of the top courts constitute criminal contempt. The bench after hearing the counsel for importers/applicants ordered issuance of notices requiring personal appearance of the alleged contemnors on Jan 30.

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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 740/2015 on March 30, 2018 it is learnt.

Director General Surriya Butt has said the department was reviewing suggestions from importers to set new prices of tubular metal needles.

She said some valuations, issued in 2015, were being reviewed from the beginning. Moreover, the valuations will be set in view of the rising prices in the international markets.

Sources told Customs Today that a petition was submitted by the importers to Customs Valuation in which change in prices of tubular metal needles was requested.

Sources said the Valuation Ruling No: 740/2015 was issued on 2 June, 2015. A meeting was held with the stakeholders on January 25, 2018.

Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of the known foreign manufacturers of the item in question through which the actual current value could be ascertained.

Meanwhile, Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 710/2015 on March 22, 2018, it is

learnt. Director General Surriya Butt has said that the department was reviewing suggestions from importers to set new prices of unRinished carpets. She said that some valuations, which were issued in 2015 and 2016, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international markets. Sources told Customs Today that a petition was submitted by the importers to Customs Valuation in

Sources told the Valuation Ruling no: 740/2015 was issued on 2 June, 2015.

A meeting was held with the stakeholders on January 25, 2018

Shc seeks remarks on plea filed for restoration of license

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KARACHI

m B RAnA

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he Sindh High Court (SHC) has issued notices to the customs authorities and deputy attorney general on a constitutional petition Riled by Muhammad Faisal, a clearing and forwarding agent, seeking restoration of his license revoked by customs ofRicials for allegedly violating customs laws.

While hearing the petition, a two-

member bench, headed by Justice Munib Akhtar also directing them to Rile their respective para wise comments on the next date of hearing. The court adjourned the hearing for January, 2018.

Earlier, counsel for the petitioner stated that he is engaged in the lawful business in the name and style of M/s Crown Moving Services and always fulfills all the legal requirements and never involved in any taxes evasion or fraud case, he stated that Collector of Customs

and licensing authority issued a show cause notice to the petitioner and without fulfilling legal formalities revoked the license of the petitioner as well as canceled the license and imposed penalty illegally.

He submitted that customs authorities has no power to revoked the license of the petitioner without fulfilling the legal requirement. Citing Chairman Federal Board of Revenue, Collector of Customs and licensing authority, Customs Collectorate Appraisment .

which change in prices of unRinished carpets was requested. Sources said that the Valuation Ruling No: 710/2015 was issued on January 23, 2015. A meeting was held with the stakeholders on 24 January. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.

pSX sheds 415pts at closing he Pakistan Stock Exchange (PSX) closed bearish after shedding 415 points to drop to 43885 level at closing after early plunge following recordbreaking loss on Wall Street. The KSE-100 index lost over 800 points within first 15 minutes of the trading following suit of markets across the globe.

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Customs Appellate Tribunal reserve verdicts of two appeals Thursday February 8, 2018

Lahore

LAHORE: The Customs Appellate Tribunal (single & double) bench heard 13 cases on Tuesday and adjourned all for different dates without those cases whose verdicts were reserved.

According to the details, the division bench-II, comprising Omer Arshad Hakeem, Member Judicial and Imran Tariq, Member Technical, heard 10 cases including Muhammad Ramzan Afzal versus Directorate of Intelligence and Investigation Faisalabad, Al-Hamra Fabrics versus Directorate of Intelligence and Investigation Faisalabad, M/s Noor Ali versus Customs Lahore, M/s Cotton Craft versus Customs Lahore, M/s Rehmat Uallah versus Directorate of Intelligence and Investigation Lahore.

fTo calls counsels for final customs preventive foils bid to smuggle arguments in Dynamic 20kg heroin from Lahore Airport Sportswear appeal LAHORE

SAJID nAwAZ

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he Federal Tax Ombudsman (FTO) has heard an appeal filed by Dynamic Sportswear against the Corporate Regional Tax Office (CRTO) and put off the hearing until the next date.

FTO Adviser Mian Munawar Ghafoor heard the case in which counsel for the appellant argued that the Corporate Regional Tax Office (CRTO) has failed to release the tax refunds since 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 a time for the release of re-

pSQcA seals 10 more illegal water brands akistan Standards and Quality Control Authority (PSQCA) on Monday claimed to have sealed 10 more illegal brands of bottled water in the provincial capital. According to PSQCA officials, on the directives of Federal Minister for Science and Technology Rana Tanveer Hussain, Director General Khalid Siddiq ordered the task force to take strict action against illegal water brands. They said the special task force raided different areas of the city, including Township, Nishtar Colony, Karim Market, Allama Iqbal Town and Multan Chungi and found some illegal water brands being sold in the market.

The task force sealed the brands of Good Water, Minerwa Water, Sparkly Water, Safa Water, Demanzi Water, Grocer Water, Dew Drop Water, Aquatica, Ikhwa Water and Aqua Clear Water, which had not obtained licence from the PSQCA, they added. –CB Report

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funds but the CRTO officials did not entertain his requests, even after the lapse of a reasonable time. At the end, the company decided to approach the FTO seeking his intervention in this case. The counsel appealed to the FTO advisor to direct the CRTO to clear the refund claims.

The counsel further said the CRTO should refund the additional collection of taxes by the end of financial year. Delay in release of refunds puts the burden on the taxpayer, he said, adding that the CRTO Lahore should audit the case and release the extra amount collected from the taxpayer. After hearing the arguments from both sides, the FTO advisor adjourned the case by the next date for further hearing and directed the parties to appear on said date to present arguments in the case.

LAHORE

SAJID nAwAZ

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ollectorate of Customs Preventive team deputed at Allama Iqbal International Airport foiled an attempt to smuggle around twenty kilogram of heroin.

Sources told Customs Today, that Collector Preventive Faiz Ahmad received credible information about smuggling attempt. He immediately directed customs team to enhance checking of departure lounge. The customs team intercepted a foreign lady who was later identiRied as Teressa.

During checking of her luggage customs team recovered twenty kilogram of heroin powder which was tactfully

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hidden in the secret parts of her suitcase. Customs team arrested the lady after registering a case against her.

During initial investigation Teressa told that she was in Pakistan from last twenty Rive days and her hotel and travelling charges were bear by one Tariq. She told interrogators that she spent most of her time in Gujranwala and visited Lahore three times. She also revealed that heroin was supplied to her by Aftab who is a resident of Peshawar while another person Aftab facilitated the whole process. She also told that accused persons promised her to give her 5000 euros after successful operation. Customs Preventive teams are still conducting several raids to arrest the main culprits. They are also trying to collect the cell phone data of accused persons. This will help them to trace the accused persons. It is also necessary to mention here that Collector Customs Preventive Faiz Ahmad directed all anti smuggling squads to adopt zero tolerance policy towards smuggling.

Tribunal-II adjourns all seven cases due urea offtake down 20pc to unavailability of member Technical he urea offtake for the month aged to increase their urea offtake by

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he Customs Appellate Tribunal has put off all seven cases for next date of hearing hue to unavailability of Member Technical Bench-II Imran Tariq.

The Division Bench-II Rixed seven cases for hearing for Monday. The Division Bench-II comprised Omer Arshed Hakeem, Member Judicial and Imran Tariq, Member Technical. The tribunal adjourned all the cases as three-year tenure of Imran Tariq had ended. The cases Rixed for hearings are Roshan Packages ver-

sus Customs Lahore, Yasir Bashir versus Directorate of Intelligence and Investigation Faisalabad, Customs Lahore versus H Ali Constructions, Customs Lahore versus JP constructions, Sohail and others versus Directorate of Intelligence and Investigation Lahore and Summer Mehmood versus Customs Lahore. The Single Bench-II, comprising Muhammad Shabbir Gujjar, Member Judicial, heard only one case of 3G assets versus Collector Customs Lahore. –CB Report

of Dec 2017 clocked in at 717,000 tons, down by 20 percent annually, but up 19 percent on a sequential basis due to seasonally higher demand during the month.

Most of the decline on annual basis was led by steep 47 percent drop in Engro Fertilizers Limited’s dispatches to 187,000 tons. Other players such as Fatima Fertilizers Limited also recorded a sharp 55 percent reduction in dispatches to 89,000 tons. On the Rlip side, Fauji Fertilizer Company (FFC) and Fauji Fertilizer Bin Qasim (FFBL) buckled the trend and man-

28 percent. On a cumulative basis, urea offtake for CY17 was recorded at 5.89mn tons, up 7 percent YoY. This growth was primarily led by improved farm economics and steep discounts offered (as low as Rs1,200/bag). A similar trend was witnessed in DAP offtake which contracted marginally 3 percent YoY (-70 percent MoM) and was recorded at 150,000 tons. This is mainly as a result of supply constraints faced by major importers such as EFERT (-29 percent YoY) and FATIMA (Consolidated) (-97 percent YoY). –CB Report

fTo hears tax refund appeal filed against RTo-II

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LAHORE

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ederal Tax Ombudsman (FTO) Advisor Mian Munawar Ghafoor has heard a case Riled by proprietors of M/s Haji Nazakat Ali & Co against the Regional Tax OfRice (RTO-II) Lahore and adjourned it until the next date of hearing.

During the proceedings of case, the counsel for the appellant argued that the RTO-II had failed to release the sales tax refund to the appellant since last two years. He said the RTO-II collected excessive taxes from the company during the last two years. The petitioner approached the ofRicials concerned several times for the release of refunds, but the RTO ofRicials failed to clear refunds after the passage of a

reasonable time. Finally, the appellant decided to approach the FTO seeking intervention in this case. The counsel appealed the FTO advisor to direct the RTO-II to clear the refund claims. The counsel further said that delay in release of refunds put burden on taxpayers, adding that the RTO-II should make audit of the case and release the extra amount collected by it from the taxpayer. On the other hand, counsel

for RTO-II argued that the appellant has not submitted all record to the ofRice for claiming refunds. If appellant provides the accurate record, the RTOII will release refunds after a proper assessment, he added. After hearing the arguments from both sides, advisor for FTO Advisor postponed hearing of the case until next date for hearing and directed the parties to appear before him on said.

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he Customs Adjudication Multan Camp OfRice has settled 32 various seizure cases of Rs.43.183 million for the duration of January after completion of trial.

According to details, Deputy Collector Customs Adjudication Saima Ayyaz decided eleven different seizure cases of Rs.5.833 million after hearing. The Customs Adjudication has decided nine seizure cases in favor of the customs department and one case was decided in favor of taxpayer after the trial. One seizure case was remanded by deputy collector Customs Adjudication for re-trial in Customs Adjudication.

Just about 23 various fresh seizure cases of Rs7.692 million have been added in the court of deputy collector for hearing in the month of January in the Customs Adjudication Multan Camp OfRice.

Additional Collector Customs Adjudication Talib Hussain has decided highest number of seizure cases in the Customs Adjudication Multan Camp OfRice in January. Almost 20 seizure cases of Rs.33.850 million were concluded after their proceedings all through January.

Majority of decided seizure cases in-

Thursday, February 8, 2018

cludes non-duty-paid smuggled vehicles and other goods. As many as 13 different seizure cases of worth Rs22.400 million were submitted in the court of Additional Collector Customs Adjudication for their legal trial.

Collector Asif Abbas Khan has also settled one seizure case of tax evasion worth Rs3.50 million in said period after hearing. One seizure case of worth Rs23.322 million has been submitted in the Customs Adjudication during January and the collector has almost nine various seizure cases of Rs158.111

toms or cus t c e l l o has onal c ssain u h Additi b i n Tal r of icatio umbe n t Adjud s e d high toms he cus decide t n i s e c ase c amp seizur ultan m n o i icat uar y Adjud in Jan o ďŹƒce

million available for hearing in the Customs Adjudication Multan.

These seizure cases were lodged by Customs Intelligence and Anti–Smuggling Organization in their different anti-smuggling activities in the jurisdiction. Meanwhile, 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. The department heard cases of smuggled foreign origin cloth, Indian tea, auto parts, blankets, Toyota Corolla vehicle in different brand and other different items during the said period.

Collector Adjudication Asif Abbas decided three case involving Rs 11.393 million, while additional collector Saeed Asad settled case worth Rs14.212 million. While deputy collector Deputy Collector Saima Ayyaz settled seizure cases in this month January worth Rs10.851 million and announced decision in favor of Customs Intelligence and Investigation during the above said period.

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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

fallouts of international bonds

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ews are circulating in the media that the government is considering floating another Eurobond to raise around $1 billion to arrest the fast depletion foreign currency reserves.

Only two months ago, the government had issued two international sovereign bonds worth $2.5 billion and the move not only shacked the entire financial system, but economic stability of the country. As the aftermath of the bonds, rupee has considerably been depreciated but the government is still in a state of denial that the shakeup has to do anything with the bonds. The government had earlier spent a lot of money to lure the potential investors to buy the bonds and the move to float another bond could prove fatal for the already fragile economy. It is difficult to understand who the consultants are in the official cadre with such a myopic vision that they could not see any option beyond loans, grants and bonds. The country has already been curving sharply under the debt burden and instead of offering any stimulation package for business and industry; the government is looking for options to ride gravy train. It appears the desperation of the financial managers is leading the nation toward further chaos. Unfortunately, every government in Islamabad has tried to do makeshift arrangements. Ad hocism has marred the shape and working of ministries, departments and institutions. Policies are made to find short-term solutions, but they always left long-term imprints and scars on the face of the economy. The new international bonds, which the policymakers insist are the next phase of the previous bonds, will probably be floated this month. The first phase bonds caused depreciation of rupee by ten percent and no one knows what disaster the new bonds will bring to the national economy. On another note, the oil prices have declined in the international market, but have been raised in Pakistan. People are made to pay a wholesale quantity of indirect taxes, which are adversely affecting the standard of living not only of common man, but also of the middle class.

Where ‘experienced team’ of the PML-N is which it had claimed before elections and where are the investors who had promised to invest in Pakistan. Instead, the government could not stop the capital flight which is continuing one way or the other even today.

money in Swiss banks A

LAHORE

DR AfTAB AfZAL

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senior ofRicial of the Federal Board of Revenue has informed the Senate Standing Committee on Finance that there is a little hope and scope the government will be able to retrieve the money stashed by corrupt Pakistanis in Swiss banks. The situation is the same after the Supreme Court sent the then prime minister Yousaf Raza Gilani home for refusing to write to the Swiss authorities to reopen money laundering cases against his president and mentor Asif Ali Zardari. However, a revised treaty signed between Pakistan and Switzerland recently on the

Avoidance of Double Taxation also did not cover past money transactions. According to unconRirmed reports, at least $200 billion had been stashed in Switzerland by Pakistanis over the years and the money is enough to rid Pakistan of all its loans and debts. The depositors include corrupt politicians, bureaucrats and maRia chiefs, but it appears the nation is not yet ready to act against corrupts elements. The Supreme Court sent the prime minister home, but could not do anything better to retrieve the national wealth as all the corrupt elements are united against the honest judiciary. In 2014, former Rinance minister Ishaq Dar had also informed par-

liament in writing that the government would make every effort to retrieve the money even if they have to revise treaty with the Swiss government. However, there is no change in the status of money and the situation till now.

The FBR official has now clearly explained that the exchange of information between the two countries could only be limited to the prospective transactions and the corrupt money does not fall in this category. The figure of $200 billion is though not authentic, but money is there without any doubt. However, the government has no will or plans to pursue the case in the International Court of Justice and even it has never won a

case in any international forum.

Instead of retrieving the money, the government has now shifted its attention to floating another amnesty scheme to attract foreign investors, including expatriate Pakistanis having black or white money in their bank deposits. Until the government reforms and changes basic structure of the tax system, the business of money laundering will continue to flourish. A plethora of indirect taxes is the evidence that the government is unable to impose and implement its writ with regard to direct taxes. The only way to bring back the money is to offer incentives to the potential investors and that is all.

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SC seeks details of Pakistanis’ foreign bank accounts from FBR, SBP, SECP ISLAMABAD: Chief Justice of Pakistan (CJP) Mian Saqib Nisar took suo motu notice of foreign bank accounts held by Pakistani citizens. Justice Nisar said there are reports circulating that people in power have been looting money and transferring it to foreign countries. The Supreme Court asked the Federal Board of Revenue (FBR) to share in a report submitted in court what steps it had taken regarding the matter of offshore companies after the release of the Panama Papers and Paradise Papers, which revealed details of wealth stored abroad by Pakistani citizens. The court directed the FBR, State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan and Finance Ministry to submit a detailed report on the matter in court.

customs Dept urged to effectively control smuggling of packed food items

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National

All refunds under duty drawbacks paid to claimants: commerce ministry

LAHORE

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he Pakistan FMCG Importers Association (PFIA), felicitating the Customs Department on the occasion of the International Customs Day, has emphasized the department to play an effective role in curb the smuggling, especially of packaged food items.

In a joint statement issued , the PFIA Patron-in-Chief Naseem Chawla, Chairman Anjum Nisar, Senior Vice-Chairman Nafees-ur-Rehman Barry and Zia-ul-Haq said the customs department needs to devise a strategy for law abiding importers and departments like Punjab Food Authority (PFA) on board to check the smuggled food items besides discouraging the marketing of counterfeit, smuggled and expired packaged food items.

They said the import of such items discourages those im-

Thursday February 8, 2018

ISLAMABAD

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he Ministry of Commerce has said that all the refunds falling in the category of duty drawbacks had been paid to the claimants. In this regard, all the claims for the payment of refunds had been cleared which had been filed in last six months.

Both the Commerce Minister Pervaiz Malik and Secretary Commerce Younas Dagha, while briefing the Senate Standing Committee on Commerce, observed that the ministry had been taking measures for the improvement of performance of Trade Development Authority of Pakistan (TDAP) in the promotion of Pakistani exports.

“In this regard, completion of TDAP Board is the first priority of the ministry; however, board has not been completed due to the fact that people from private sector had been reluctant in joining the TDAP,” said the Minister for Commerce.

The secretary said that Strategic Trade Policy Framework 201518 was coming to an end in the

current fiscal year; however the ministry had been carrying out extensive consultative process for the formulation of SFPF 2018-21.

“The tune of consultation being carried out for new trade policy framework is far more than almost all the policy frameworks in

the past” Dagha said.

While briefing the committee on the pending recommendations by the different departments of Ministry of Commerce and Textile Industries, Dagha said that ministry had implemented almost fourteen recommendations of the commit-

tee while rest four were being implemented. Directorate General of Trade Organization (DGTO) briefed the committee that amendment in the rules relating to membership of trade organizations would be included in its consolidated proposals for Trade Organizations Act, 2013 and rules.

The committee appreciated the overall working of Pakistan Horticulture Development and Export Company (PHDEC) and its shifting of its head office from Lahore to Islamabad. Committee emphasized on its marketing and public awareness programs and directed to make it more convenient for the general public.

Three recommendations were given to National Tariff Commission (NTC) and was told the committee that its working has increased as compare to last years.

Chairman of the committee asked about the mechanism of pension of their retired employees. It was informed that there was no such mechanism so law division was consulted and necessary steps have been taken in this regard as the matter is sub judice.

fBR exempts aid agencies from submitting security KARACHI

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porters who believe in paying due taxes, and smuggling throws them out of the competition in the market. They said the counterfeit or expired items cause harm to the health of the consumers also. They said the coordinated efforts would ensure that people get duty-paid and quality food items. ‘We can bring down the budget being spent on health sector to almost half in two years if we can ensure provision of quality food items imported through formal channel, maintained the PFIA leadership.

ederal Board of Revenue (FBR) has exempted foreign aid agencies from submitting financial security for cargo to be cleared under Afghan transit trade. Sources in Customs said there is a mandatory requirement of producing exemption certificate for clearance of such goods. Diplomatic missions, Afghan government, non-government organisations, United Nations agencies and European Commission import non-commercial goods. The goods are not considered as non-commercial if the cargo belongs to US army, International Security Assistance Force, North Atlantic Treaty Organization or other military forces stationed in

Afghanistan. Customs’ sources said the government for the first time imposed the condition of financial guarantee on February 24,

2014 for transit under customs computerised system.

The sources added that goods destined to Afghanistan were al-

lowed duty and tax exemptions, but the condition was imposed to prevent misuse the facility under transit trade. Under the prevalent laws, the Afghan importer of goods or authorised customs agents, brokers or transport operators in Pakistan are required to furnish financial security in the form of insurance guarantee for goods destined for Afghanistan to ensure the fulfilment of any obligation arising out of customs transit operation between Pakistan and Afghanistan.

The FBR also increased the routes for transit trade from 9 to 10 to facilitate the trade movement between Karachi to Torkham.

Routes include Karachi/Port Qasim, Jamshoro-Hyderabad, Sukkur, DG Khan, DI Khan, Kohat, Azakhel, Peshawar and Jamrud Terminal Torkham.

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Tribunal reserves judgment on M/s Pakistan Telecommunication’s customs reference Thursday February 8, 2018

National fBR officers directed to declare dual nationality

ISLAMABAD: The Customs Appellate Tribunal reserved a decision onM/s Pakistan Telecommunication Co Limited’s customs reference.

Member Technical Ziauddin Wazir heard the matter along with other cases involving Model Customs Collectorate and Directorate General of Investigations and Intelligence Islamabad.

M/s Pakistan Telecommunication Co Limited had filed the customs reference against the MCC.

home grown structural reforms program to strengthen current account deficit

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ederal Board of Revenue (FBR) has directed all its officers including Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) BS-17 and above to submit declaration in case of having dual nationality. The establishment division asked all Members/Directors General, FBR; all Chief Commissioners-IR; Regional Tax Office/Large Taxpayers Units; all Chief Collectors (Customs); all Directors General-IR/Customs; and all Commissioners-IR (Appeals) to disclose how many civil servants working in BS-17 and above in the federal as well as provincial governments have dual nationality. The FBR directed the officers to provide information including name of officer and his/her dependent(s); status of dual nationality (Name of Country); and date of application by February 2018.

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fTo hears appeal filed by m/s hi- Tech feeds he Federal Tax Ombudsman (FTO) has postponed the hearing of a case filed by M/s Hi- Tech Feeds Private Limited against the Large Taxpayer Unit (LTU) until the next date of hearing. The same was heard last month and was put off for the next date. FTO orders counsels to windup arguments. According to the details, FTO Advisor Mian Munawar Ghafoor heard the case in which the counsel for the appellant argued that the LTU had failed to satisfy the appellant in refund case. He added that the LTU collected excessive tax from the company during the last three years. The petitioner approached the department many times but it failed to pay the refunds after the passage of a reasonable time. –CB Report

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he Finance Ministry is optimistic about strengthening current account deRicit and increasing foreign exchange reserves in result of positive indicators, due to home grown economic structural reforms program.

The Current account deRicit widened to $ 12.4 billion previous Riscal year as compared to $4.9 billion in FY16-17. Similarly, total liquid foreign exchange reserves witnessed a reduction of $3.3 billion from the peak level of $24 billion at end October 2016 to $20.7 billion in December, 2017. A well placed source at Finance Ministry, told Customs Today that the government initiated a home grown structural re-

forms program broadly covering energy, Riscal reforms, social protection, and improvement in business climate. “These reforms have significantly improved macroeconomic indicators including build-up of foreign exchange reserves which were supplemented by inRlows of loans and grants from multilateral and bi-

lateral development partners, overwhelming response of investors in Euro and Sukuk Bonds’ issuance, inRlow of money, measures taken under Pakistan Remittance Initiative (PRI) and SBP’s efforts to build up foreign exchange reserves” the source observed saying that these steps helped in maintaining the up-

ward trajectory of foreign exchange reserves. The source said that main contributor to current account deRicit is trade deRicit which needs to be understood in its true context. It is mainly due to increase in imports of machinery, industrial raw material and petroleum products.

“This sharp increase is due to increased investments under CPEC in energy and infrastructure sectors.

These are healthy imports and will enhance productive capacity of the economy for higher outputs and exports in future” the source maintained. As imports increased, exports faced a stagnant trend due to the subdued demand, the source said hat depressed commodity prices globally coupled with the energy shortages and law and order situation in the country adversely affected the exports.

Special Recovery Teams seal 211 properties for non-payment of taxes & duties T

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ZAfAR mALIk

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he Special Recovery teams of the Excise & Taxation Department have sealed 211 properties, including houses, shops and commercial buildings of the chronic defaulters besides impounding 55 vehicles for the non-payment of duties and taxes during a crackdown on the defaulters in Gujranwala Division’s all six districs including Sialkot, Narowal, Gujrat, Mandi Bahaud Din, Hafizabad and Gujranwala.

According to the senior E&T officials, the teams have also seized/confiscated 2,000 unapproved numbers of different vehicles. The officials added that the owners of these sealed properties are still reluctant to pay their outstanding arrears (in

millions of rupees) in the shapes of property, professional and

registration taxes besides ignoring the recovery notices repeat-

edly issued by the Excise & Taxation Department.

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Customs QRF impounds smuggling items & vehicles during first half of 2017-18 ISLAMABAD: The Quick Response Force (QRF) of the MCC Islamabad took into possession contraband goods and vehicles worth Rs8million during first half of FY2017-18.

According to details given by Shahrukh Butt, In-charge Quick Response Force (QRF) Islamabad, that the force registered five cases against tax evaders during above said period.

The QRF has also registered five cases of smuggling of goods and impounded five offending vehicles during said period. In the first seizure, the QRF seized 350 kilogram of foreign origin ladies plain cloths priced at Rs0.183million. In the 2nd case, the QRF confiscated 515kg of suiting cloths, 552kg of ladies suiting polyester cloths as well as it impounded 50kg of tea and four air-conditioners along with an offending vehicle valued at Rs2.1million.

‘over 6,000 imported vehicles to be given customs clearance this month’ ISLAMABAD

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pecial Assistant to Prime Minister and Federal Minister on Revenue Haroon Akhtar has revealed that more than 6,000 imported vehicles, lying at Karachi Port and Bin Qasim Port, would be given customs clearance during the ongoing month which would help generate over Rs6 billion taxes/duties. Talking to media, he said that the government is going to move the Sindh High Court against the importers who had taken stay order for not submitting regulatory duty imposed on heavy vehicles. Haroon lauded the performance of Federal Board of Revenue (FBR) Chairman Tariq Mahmood Pasha, Member OperationInland Revenue Khawaja Tanvir Ahmad,

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Member Customs Zahid Khokhar and officials of Pakistan Customs Service and Inland Revenue Service, who have been striving to achieve revenue collection target for the last seven months of current fiscal year (2017-18). He said that these officers have made the FBR proud after making efforts to enhance revenue collections on the direction of Prime Minister Shahid Khaqan Abbasi.

He said that the FBR collected revenue with 19 per cent growth during the last seven months (July-January), adding that all the field formations of Customs and Inland Revenue continued the accelerated growth of revenue collection despite four per cent inflation rate. The federal minister said that the provisional collection for the month of January 2018 was Rs 272 billion excluding collection on account of book adjustments which may range between Rs 2 billion to Rs 3 billion.

National

court re-issues non-bailable warrants against suspects in donkey hides smuggling case

parliamentary body flays tax exemptions to chinese company ISLAMABAD

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parliamentary committee has decided to summon officials of Ministry of Communications in next meeting for granting tax exemptions to China State Construction Engineering Corporation Limited on imported construction material which will be used for the Karachi-Peshawar Motorway. The Senate Standing Committee on Finance and Revenue, which met under the chair of Senator Saleem Mandviwalla, has discussed the calling-attention notice submitted by senators for giving tax exemptions to a Chinese company, which is constructing Karachi-Peshawar Motorway (Sukkur-Multan section).

Senator Mandviwalla said that Federal Board of Revenue (FBR) has given an exemption to the tune of Rs10.98 billion to the Chinese firm. Similarly, Senator Murtaza Wahab, a mover of the notice, asked why FBR has given tax exemption to a Chinese company. “An exemption could only be given across the board, not to a single company,” he added. “I wonder why Economic Coordination Committee (ECC) has given an exemption to the tune of Rs10.98 billion to the Chinese firm”.

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he Customs Court re-issued non-bailable warrants against absconding accused, who are booked in a case of attempting to smuggle donkey hides worth Rs 12,46,50,000 from Lahore to Karachi to be smuggled to China.

During the hearing, investigation officer submitted that accused Muhammad Bilal, Muhammad Farooq and Muhammad Rafique alias Rafi are still absconders in this case and prosecution is trying its best to arrest them, therefore, the court may grant time and issue non-bailable warrants against the absconding suspects. According to the prosecution, local police recovered 4, 986 donkey hides (pieces) which were put inside 642 bags. The operation took place at a shop located in Gulistan-e-Jauhar, Block-12 and arrested a Chinese Citizen Tu-zhong Xiao son of Tu Shao, Syed Ehtisham Zaidi son of Syed Shamim Ahmed Zaidi, Muhammad Faisal Bhutto son of Muhammad Ibrahim, Muhammad Jumman son of Ameer Ali, Zeeshan Jan son of Patrus, Daniyal Rahman

Thursday February 8, 2018

son of Muhammad Shakeel, Afshan wife of Ehtisham and absconders accused Muhammad Bilal son of Salamat Ali, Muhammad Farooq son of Muhammad Qasim and Muhammad Rafique alias Rafi, after the formalities, police handed over them to customs department for FIR and further investigation and during the investigation, it was revealed that the hides were brought illegally from Lahore to be smuggled to China. “There were about eight hides in one sack and

one hide is sold for approximately Rs25, 000. As per interim challan, investigation officer has informed the court that China is using donkey hides to produce medicine named Ejiao, which is useful in blood-related disease. The Ejiao is obtained from donkey’s Gilatin and owing to this reasons, China has become major importer of donkey hides. “A large numbers of donkey hides are being export to China and often illegal methods are adopted to make more profits.

pak-Italy to enhance institutional ties for SmE development

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akistan and Italy have agreed to increase institutional collaboration to promote and develop Small and Medium Enterprise (SME). Pakistan and Italy have identiRied areas of cooperation to have greater economic and commercial exchanges for mutual beneRit. These areas include collaboration in important sectors like livestock, energy, infrastructure, oil and gas, transport management and chemicals. Both sides also agreed to remove bottlenecks in promotion of trade. Italy is in favour of free trade

with Pakistan under the umbrella of the European Union (EU) and wants to increase bilateral trade with Pakistan, sources said, adding that the China-Pakistan Economic Corridor (CPEC) will enhance global connectivity of the country. Italian companies involved in communications and construction have ample opportunities to take part in the CPEC. In this regard, Pakistan and Italy signed three letters of Intent (LoIs) for cooperation in textiles, footwear and stone sectors. Another MoI was also signed between Pakistan Stone Development Company (PASDEC) and its Italian counterpart ConRidustria Mardomacchine.

According to Finance Ministry, both the Pakistan and Italy held third session of Joint Economic Commission (JEC) exchanged on the current economic conditions and prospects of enhancing bilateral commercial and investment relationship. The two sides reviewed the economic situation in both countries and discussed areas of bilateral economic cooperation.

Minister of State for Finance Rana Muhammad Afzal Khan and Deputy Minister, Italian Ministry of Economic Development Ivan Scalfarotto headed the respective sides in the session.

While noting that there was an increase in bilateral trade during the past year,

the two sides agreed that the current level of bilateral trade and investment did not fully reRlect the potential of their economies. Both sides acknowledged the need of increasing the total trade Rlows by facilitating market access and diversifying the range of goods and services. In the second JEC session held December 2016, both the countries had agreed to enhance their bilateral trade to $1.5 billion from $1 billion from the current Riscal year of 2016/17. Coincidently, the both Rana Muhammad Afzal Khan and Ivan Scalfarotto also led their respective sides in that session too but then Rana Muhammad Afzal Khan was parliamentary secretary for Rinance and economic affairs.

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Australia gunning for spot among world’s top arms exporters

World Customs

CANBERRA: The Stockholm International Peace Research Institute’s (SIPRI) widely cited study on defense exports for the 2016 calendar year, published in December, showed Australia ranking 20th worldwide with about 0.3 percent market share.

Given the size of our defense budget, we should be a lot higher up the scale,” the prime minister told reporters. According to IHS Jane’s, Australia’s $26 billion defense budget in 2016 made the island nation the 11th biggest spender worldwide.

In 2016, Canberra’s arms exports totaled just $1.6 billion, the SIPRI study showed.

Thursday February 8, 2018

hong kong customs seizes suspected crack cocaine

national grid sees $2b credit on uS tax shift WASHINGTON

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ong Kong Customs yesterday seized about 1 kilogram of suspected crack cocaine and 50 grams of suspected cocaine with an estimated market value of about $1.4 million in Tai Po. During an anti-narcotics operation in Tai Po last night, Customs ofRicers intercepted two men and found about 1kg of suspected crack cocaine inside a plastic bag carried by one of them. They were then arrested. After investigation, Customs ofRicers further arrested two men and one woman suspected to be in connection with the case at a housing estate nearby. The arrested persons were escorted to a residential premises of the housing estate where about 50g of suspected cocaine as well as a batch of drug manufacturing and packaging paraphernalia

fortune customs office move on hold after officials meet he Canadian Border Services Agency office in Fortune isn’t moving at least for now. Fortune Mayor Charles Penwell told CBC’s On the Go on Monday that a dispute between the agency and the local port authority over rent had staff packing up over the weekend for an expected move to the RCMP building in nearby Grand Bank.

Right now, under federal legislation, the agency pays rent only for months when the ferry from StPierre isn’t running — currently six months a year. With ferry service expanding this year to become yearround, there was a disagreement over rental costs. But after a meeting Monday involving the agency, the port authority and the town, Penwell said it looks like things can be worked out. –CB Report

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were further seized. The arrested persons are aged between 18 and 21.

Meanwhile, Hong Kong boasts glittering skyscrapers, seamless transportation and billion dollar infrastructure projects, but it is struggling with a much more mundane problem: disposing of its trash.

The former British colony is grappling with a growing mountain

of waste resulting from China’s ban this year on imports of 24 types of unprocessed rubbish – part of an effort to upgrade its recycling industry and reduce pollution. The Hong Kong government acknowledges its inability to cope with the problem, saying that it lacks the land to develop an effective recycling industry.

uk households ‘facing increase of up to £80’ as ministers relax bill cap

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onservative peer Lord Porter, who chairs the Local Government Association, has warned “the majority will have little choice” but to increase bills, in order to protect vital services amid a £2.3billion “funding gap” in the social care system. Some councils have already increased bills by six percent, after ministers lifted the cap on tax hikes from Rive percent in December, according to the Telegraph.

This could mean an increase of as much as £80 for some households. Lord Porter said the tax hike was regrettably necessary for many local authorities, as “the money local government has to maintain vital services is running out fast”. He said: “Faced with ongoing funding pressures, early indications suggest the majority will have little choice but to increase bills again this year to try and protect services.” –CB Report

ational Grid PLC (NG.LN) said that it estimates it will have a non-cash tax credit of around $2 billion in Riscal 2018 following tax reform in the U.S. The electricity utility said the tax credit will be reRlected as an exceptional item and is expected to be returned to customers over a period of 20 to 30 years.

The company said there will be no other material impact on results for the year ending March 31.

It said that overall U.S. tax reform will be positive for its U.S. customers and economically neutral for the company. National Grid said the total yearly revenue increase from the Niagara Mohawk Electric & Gas business and its gas entities in Massachusetts and Rhode Island is estimated to re-

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duce by $130 million in fiscal 2019. The company said the reduction in revenue will be offset by a corresponding reduction in the tax charge.

Meanwhile, The recent U.S. tax cuts and reforms are exerting a lot of pressure globally, with most countries now looking at ways to enhance their tax competitiveness in order to attract investments and boost growth, according to Mukesh Aghi, president, US-India Strategic Partnership Forum (USISPF). His statement assumes significance as there are expectations that the government may also usher in tax reforms in the Union Budget in line with global trends. Indian subsidiaries of many American companies and even Indian export firms for whom the U.S. is the major market, are said to be considering shifting operations to the U.S. to take advantage of the tax cuts and other benefits of being there, according to Indian industry officials.

norway’s china salmon sales rising orwegian salmon exports to China rose to 557 metric tons in week three of 2018, from 399t the previous week, and from 97t in the corresponding week of 2017, reports Reuters, citing data from Seafood Norway. The Chinese volumes remain small when compared to Norway’s overall salmon exports, which hit 16,531t in week three. In late 2016 Norway and China began to normalize political and trading relationsfollowing a diplomatic row over the 2010 award of the Nobel Peace Prize to a Chinese dissident. Salmon exports to Vietnam fell sharply year-on-year

however, as the country had previously been seen as a backdoor to China. Meanwhile, Norwegian salmon exports to China rose to 557 tonnes last week from 399 tonnes the previous week, and from 97 tonnes in the corresponding week last year, data from Seafood Norway showed. The Chinese volumes remain small however when compared to Norway’s overall salmon exports, which last week hit 16,531 tonnes. The industry considers a recovery of salmon exports to the Chinese market as important, as output has risen this year and prices have fallen sharply. –CB Report

germany in top 10 in global financial secrecy

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ermany was ranked seventh in the 2018 Financial Secrecy Index, a study published by the Tax Justice Network, a UK-based Rinancial advocacy group. The study gave Germany a secrecy score an amalgamated rating which tallies

recorded company ownership, country-by-country reporting (CbCR) and tax court secrecy among other factors of 59.1, which ranked 80th of the 112 countries measured.

However, Germany ranked in the top 10 because the study argues it accounts for more than 5 percent of the global market for offshore Rinancial services. Germany’s rank is largely unchanged from the last Fi-

nancial Secrecy Index, which was released in November 2015. However, the continued Rinancial secrecy may be disconcerting for some German lawmakers, who have increased their efforts to prevent tax evasion and money laundering. Unsurprisingly, Germany’s European neighbor Switzerland, a country notorious for banking secrecy, tops the index, followed by the US and the

Cayman Islands.Germany has taken legislative steps to crack down on tax evasion and money laundering, but the study claims that “serious loopholes remain in national legislation and negligent enforcement of tax and anti-money laundering regulation still pose a threat to their effectiveness.” German banks reportedly cost the government up to €2.9 billion ($3.46 billion).

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KPT shipping intelligence report KARACHI, Jan 30 (APP):The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Tuesday. ALONG SIDE (Bulk Oil Pier) OP-I Hamburg Star D. Mogas Alpine 27/01/18 OP-II Csc Risingsun L. Naptha Alpine 29/01/18 OP-III Lahore L. Crude Oil PNSC 29/01/18 ALONG SIDE (East Wharves) 1Bon Atlantico L. Chemical Alpine 29/01/18 10/11 Silkroad 03 D. DAP Bulk-Sh. 28/01/18 11/12 Panoria L. Talc Powder Swift-Sh. 25/01/18 12/13 Bedford Castle D. Gen.Cargo Sea & Sky Log 29/01/18 ALONG SIDE(P.I.C.T) 6/7 Talassa D. L. Cnt. COSCO 28/01/18 8/9 COSCO New York D. L. Cnt. COSCO 28/01/18 ALONG SIDE(PDWCP): SAPT-3 CMA CGM Tosco D. L. Cnt.

four ships take berth at port Qasim our ships MSC Susanna, MSC Chicago, Newark and Great61 carrying Containers and Coal took berths at Qasim International Container Terminal and Multi-Purpose Terminal respectively during last 24 hours. Meanwhile another containers ship MSC Algeciras also arrived at outer anchorage of Port Qasim during the same period. Berth occupancy was observed at the port at 59% on Monday where a total of ten ships namely, MC Susanna, MSC Chicago, Newark, Santy Loch Crinan, Great-61, Nvios Coral, Umm Addalkh, Corona and AlSahila are currently occupying berths to load/offload Containers, Rice, Coal, Soya Bean, Palm Oil and LNG during last 24 hours.

Cargo handling remained upward trend at the Port where a cargo volume of 176,820 tonnes, comprising 135,337 tonnes import cargo and 41,483 tonnes export

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Ports & Shipping

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hutchison ports Sohar boosts operation of vessels by 70%

Denmark produces global maritime hub plan

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enmark wants to become a global frontrunner through tests of maritime autonomous technologies and maritime digitalization, creating more work-experience places at sea and increasing the number of applicants admitted to the training programmes for masters and ship officers. It will also work closely with industry to ensure the development of an overall maritime marketing strategy. The Government’s ‘Plan for Growth’ is based on the recommendations made by its Maritime Strategy Team. Brian Mikkelsen, Denmark’s Minister for Industry, Business and Growth, said: ”With the Plan for Growth in the Danish Maritime Sector, the Government has set the course for Denmark to become a global maritime power hub by 2025. “Now, all forces in the Danish maritime sector must join forces, roll up their sleeves and get to work to make the vision behind the plan for growth into reality.” –CB Report

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utchison Ports Sohar increased its average vessel operation rate (VOR) by 70 per cent, with its Terminal C hitting a record high of 169 moves per hour on January. The increase in VOR is attributed to Hutchison’s investments in day-to-day port operations.

VOR refers to the number of container moves per hour that are carried out by those cranes deployed on a vessel. In general, the higher the VOR, the more productive the terminal. Over the past year, Hutchison Ports Sohar has invested in building a world-class terminal facility to handle growing transhipment cargo throughput, as well as overland cargo from the Gulf Cooperation Council. Big achievement Of this accomplishment, Albert Pang, chief executive ofRicer of Hutchison Ports Sohar, noted, “To achieve growth in what has been a challenging business environment for

the port and shipping industry around the world is a tremendous achievement, and can be attributed in large part to our investment in technology and smart systems, as well as the continuous support from Dr Ahmed bin Mohammed bin Salim Al Futaisi, Minister of Transport and Communications, and the Sohar Port and Freezone.

“In the first quarter of 2018, 28

yard trucks, 20 trailers and four rubber tyred gantry cranes will be added to the equipment fleet at the terminal. I’m confident that these efforts will help establish Hutchison Ports Sohar as the preferred port-of-call in the region and that further investments will contribute to the growth of the local economy in the Al Batinah region and beyond,” he added.

Sohar port robust growth in 2017 cargo inclusive of containerized cargo carried in 4,049 Containers (TEUs), (2,067 TEUs imports and 1,982 TEUs exports) was handled during last 24 hours. Three ships, Container vessel ‘MSC Susanna’, gas carrier ‘Al-Sahila’ and edible oil carrier ‘Corona’ sailed out to sea Tuesday morning, while two more container ships, MSC Chicago and Newark are expected to sail on sameday in the afternoon. Two ships, MSC Algeciros and Maersk Chicago carrying Containers are expected to take berths at Container Terminal on Tuesday, while two more ships CMA CGM Latour and Gaschem Antarctic with containers and LPG are due to arrive at Port Qaim. –CB Report

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espite volatility in the global maritime sector, Sohar Port and Freezone once again posted a year of consistent growth with an average of over 1mn tonnes of cargo handled by the port every week in 2017. Containers trafRic rose 36 per cent last year compared to 2016, while dry bulk throughput increased 25 per cent year-on-year, according to a press release.

Sohar Port received 3,075 vessel calls in 2017, marking a signiRicant increase of 17 per cent, despite the continued global trend towards consolidation and larger ships.

Sohar Port and Freezone on Wednesday hosted its annual business reception at The Chedi Muscat where they revealed 2017 operating results and major projects for 2018.

One of the major highlights for Sohar Port and Freezone in 2017 was the establishment of a 40hectare food cluster at the port which will include a major Rlour mill, a world-class sugar reRinery, and a grain silo complex. The Rlour mill, operated by Sohar Flour Mills, will have a capacity of 500 tonnes per day, while the planned sugar reRinery, owned and operated by the Oman Sugar ReRinery Co, will boast a production capacity of 1mn tonnes per annum. Sohar Port now operates a terminal dedicated exclusively for the food cluster.

“We are pleased to report another year of solid growth for Sohar Port and Freezone. In 2017, we focused strongly on the food sector and were able to attract signiRicant public and private sector investments to the cluster. Our focus on this Rield enabled us to capture a larger slice of the food products cargo trade in the region,”

Mark Geilenkirchen, CEO of Sohar Port and Freezone, said. “This is aided by the steady growth in aggregate cargo volumes and investments at the port, such as the upcoming Sohar Port South expansion, which is set to deliver additional cargo capacity and attract signiRicantly more business,” he added. Launched in 2017 and now nearing completion, the Sohar Port South expansion will add new deepwater berths and a further 200hectares of land to Sohar Port and Frezone’s present capacity of around 2,000 hectares. Given its proximity to the bustling petrochemicals cluster, the expansion will be earmarked almost exclusively for oil and gas-based investments. Sohar Freezone also witnessed a number of milestones in 2017, the most signiRicant of which was the signing with India’s Pittie Group, one of the biggest cotton yarn manufacturers in the world, for a US$300mn cotton yarn project. “An-

other major project was for the production of antimony, a mineral which is primarily used as a Rire-retardant.

In total, around 26 companies are already reaping the beneRits of unrivalled access to land, low-cost energy, and skilled workforce in the region,” Jamal Aziz, CEO of Sohar Freezone, said. “Investment in the smelter is part of a push to grow our metals cluster; to complement and support iron and aluminium industries at Sohar. The metals cluster at Sohar is one of the fastest growing, with a high economic yield,” Aziz added. He added, “Looking ahead, a US$60mn deal with a UK-led consortium will see Sohar house the largest rare earth metal plant of its kind outside of China. Plus, agreements with two of Oman’s biggest business houses will see an annual assembly within the freezone of 200,000 vehicles from some of the world’s leading automotive brands.”

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RCB to auction 38 shops on Feb 7 RAWALPINDI: Rawalpindi Cantonment Board (RCB) will auction its 38 under construction shops on February 7.

RCB spokesman, Qaiser Mahmood said, the board had finalized all the arrangements to auction its 38 shops being constructed in Westridge area on old Rex Cinema site.

The auction process would be completed on February 7, 8 and 12, he said adding, the shops are being offered on non-returnable premium/rent basis and help generateconsiderable revenue.

Thursday February 8, 2018

Business

pm offers connecting cpEc with six routes of Sco ISLAMABAD

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rime Minister Shahid Khaqan Abbasi offered to connect China Pakistan Economic Corridor (CPEC) with six approved routes of Shanghai Cooperation Organization (SCO) to enhance region’s connectivity.

This would become a conduit linking Eurasian landmass, China, Russia and Central Asia with the Arabian Sea, the Prime Minister said in his meeting with Secretary General of SCO Rashid Alimov here at the PM OfRice. This is the Rirst visit of SCO Secretary General after attainment of Pakistan’s full membership of SCO.

foreign currency Account Scheme KARACHI

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The Prime Minister expressed support for various SCO’s initiatives including establishment of SCO Development Bank, SCO Development Fund, SCO Business Council, SCO Interbank Consortium and it’s Small and Medium Enterprises. He thanked

Excise department seals 28 properties, challans 2,593 vehicles

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he Foreign Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Base Rate. FOREIGN CURRENCY ACCOUNTS SCHEME — RATES BAY BID MAXIMUM RATES FOR PAYMENT OF INTEREST BY ETHERIZED DEALERS R A T E S U.S. DOLLARS VALUE 06-02-18 For 3 months and over but less than 6 months 1.5390% PA 2.2890% PA For 6 months and over but less than 12 Months 1.7421% PA 2.4921% PA For 12 months.

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Secretary General for his support in steering the process of Pakistan’s membership of SCO and reiterated Pakistan’s commitment towards “Shanghai Spirit” of mutual trust, mutual beneRit, equality, respect for cultural diversity and pursuit of com-

mon development. He said Pakistan shared with SCO and its members, deep-rooted historical and cultural links and strong economic and strategic complementarity. Highlighting Pakistan’s active participation in all the SCO activities, the Prime Minister appreciated that SCO had established itself as a signiRicant and inRluential player in the international arena by leveraging its comparative advantages. The Prime Minister said SCO’s unique and pragmatic portfolio of economic, trade, development, security and counter-terrorism cooperation distinguished it from other international organizations. He expressed support for the SCO Regional Anti-Terrorism Structure (RATS) and reiterated Pakistan’s strong opposition to the evils of terrorism, extremism and separatism.

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RAWALPINDI

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xcise and Taxation Department sealed 28 commercial and residential properties during last week for non-payment of property tax while 2,593 unregistered and token tax defaulters’ vehicles were also issued challan slips.

According to Excise and Taxation Department, the teams comprising inspectors under the supervision of Excise and Taxation OfRicer (ETO) Property Tax, Zone-II, Riaz Qureshi

and Zone-I, Sohail Sabir are conducting raids and the properties of tax defaulters are being sealed.

The sources informed that the department also recovered property tax arrears amounting to over Rs3.5 million during the campaign. The properties whose owners had not submitted their property tax dues were sealed in different areas.

The department during its special campaign launched on the directive of Director Excise and Taxation Tanveer Abbas Gondal also checked vehicles and challaned 2,593 recovering outstanding dues

of token tax amounting to Rs2 million. There 12 teams were constituted for Rawalpindi district. The owners of properties and vehicles have been directed to pay their taxes at the earliest else strict action would be taken against them under the law. Meanwhile, Recovery teams of the Excise & Taxation Department have sealed 211 properties, including houses, shops and commercial buildings, of defaulters. The teams also impounded 55 vehicles for nonpayment of taxes during a crackdown launched against defaulters in the Gujranwala division.

fIA recovers huge quantity of spurious injections LAHORE

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he FIA Corporate Crime Circle raided a house on Ferozepur Road and recovered a huge quantity of unregistered and spurious injections on receipt of secret information. According to the FIA, accused Qaiser Mehmood Sulheri was arrested, as he was involved in manufacturing and selling spurious drugs. An FIR has been registered and a huge quantity of ampule/ injections M Gesic and unlabelled (used by drug addicts for intoxication), purportedly manufactured by Mediate Pharma and Dosaco Laboratories have also been recovered.

The FIA said efforts were underway to arrest other accused involved in the heinous crime. Meanwhile, The Federal Investigation Agency (FIA) has rounded up three men involved in human trafficking in the wake of the latest migrant tragedy off the coast of Libya. A boat full of migrants capsized off the Libyan coast, drowning all people. More than a dozen Pakistanis were among those feared to have drowned. An FIA official said Nisar Ahmed, Safdar and Kamran have been arrested for their alleged involvement in trafficking of the Pakistani migrants drowned in the recent Libyan boat tragedy.

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Senate body proposes to resolve issues of salaries in pSm ISLAMABAD

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enate Standing Committee on Industries and Production Tuesday recommended to resolve the issues of Salaries, gratuity and Provident Fund in Pakistan Steel Mills (PSM).

Senate Standing Committee on Industries and Production meeting was chaired by Senator Hidayatul-

lah in Parliament House here.

Chairman Committee Senator Hidayatullah Said that Ministry of Privatization have no concern for paying net salaries to PSM employees.

The Committee informed that amount worth Rs 47 billion required for paying all arrears to PSM employees and the government was paying Rs 270 million for salaries to PSM employees in every month.

Secretary Privatization Commission, Irfan Ali said privatization was prime economic tool for enhancing the capacity of institutions.

He said the government was committed for working on stability and growth of national institution.

In the meeting, Senator Taj Haider stressed the need to increase the industrial base instead to privatize the country’s institutions for providing employment

opportunities in the country.

Meanwhile, brieRing the committee, senior ofRicial of Utility Stores Corporation (USC) informed the committee that 11 employees of USC were under trial in different cases including 6 ofRicers and 5 other employees.

He informed the committee that currently the corporation was facing loss of Rs 17 million daily and as many as 4,477 stores were running in loss. He said main reason

behind such a huge loss was over burden of employees as around 480 employees were in surplus.

Chairman Committee urged the USC to evolve system for maintaining quality control and transparency in the institution.

Senator Taj Haider, Mian Muhammad Ateeq Shaikh, Malik Najmul Haq, Kalsoom Perveen , Khanzada Khan and senior ofRicial of Ministry of Industries and Production attended the meeting.

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EU, Russia feeding boom in grape exports MOSCOW:Exports of fresh grapes are off to a good start this year with the early arrival of the fruit and strong demand from the traditional markets such as European Union and Russia.

The season has started early by a couple of weeks in mid-January and shipments till date are up 28 per cent at 15,383 tonnes as against 12,058 tonnes in the corresponding period last year.

The surge in shipments is despite the 20-25 per cent crop damage that was caused by the rains brought about by cyclone Ockhi in November-December in the key growing regions of Nashik, Maharashtra.

Jagannath Khapare, President, Grape Exporters Association of India, said the shipments, despite Ockhi, are not down because the domestic production capacity is about 35 lakh tonnes, while exports were about 2.32 lakh last year.

Zubair malik elected as chairman founder group of IccI

Thursday February 8, 2018

Chambers

Vietnam wants enhanced trade & economic ties with pakistan

ISLAMABAD

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ubair Ahmed Malik, former President, Islamabad Chamber of Commerce & Industry has been elected as new Chairman, Founder Group of ICCI. Outgoing Chairman Founder Group Khalid Javaid administered oath to Zubair Ahmed Malik during a ceremony held at Islamabad Chamber of Commerce & Industry.

Zubair Ahmed Malik is a well-known business leader of the country as he has already rendered useful services for the business community as former President, Federation of Pakistan Chambers of Commerce & Industry and former Vice President, SAARC Chamber of Commerce & Industry. After taking

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oath, Zubair Ahmed Malik thanked all the members of Founder Group for electing him Chairman and assured that he would work to further strengthen the Group so that it could play more effective role in providing better leadership to ICCI and serving the interests of business community of this region. He said he would take all major decisions in consultation with Group members and would make sure that trade and industry get equal opportunities at the platform of ICCI. He also lauded the services of Khalid Javaid, outgoing Chairman Founder Group and said that he would take benefit from his experience to further improve the performance of the Group.

Khalid Javaid, outgoing Chairman Founder Group thanked all the members of the Group and members of ICCI for extending him full cooperation and support in running the affairs of the Group in a democratic manner.

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ham Hoang Kim, Ambassador of Vietnam visited Islamabad Chamber of Commerce & Industry and addressing the business community said that his country wanted to develop strong trade and economic relations with Pakistan as both countries have good potential to complement each other in many areas. He said Vietnam has good expertise in producing hydropower and it could cooperate with Pakistan in this Rield. He said Pakistani pharmaceutical products, black pepper and many other products have good demand in Vietnamese market.

He said Vietnam and Pakistan should take part in each other’s trade fairs and exhibitions that was the best way to improve bilateral trade relations. He said that ICCI should share full detail of its expo being organized in April 2018 in Islamabad and he would try to bring Vietnamese businessmen to participate in that expo. He also invited ICCI delegation to visit Vietnam to explore new avenues of business

prospects in Vietnamese market.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry said that Pakistan and Vietnam enjoyed friendly relations, but their bilateral trade of around $500 million was far less than the actual potential of both countries that needed to be improved by strong efforts from both sides. He said Pakistan and Vietnam have good potential to cooperate with each other in many areas including trade and investment, textiles & gar-

ments, energy, infrastructure development, automobiles, industry, agriculture, food processing, chemicals, information technology, pharmaceuticals, gems & jewelry, sports goods, education & health, air & sea connectivity, & banking, seafood and Rish farming. He stressed that both countries should give private sectors leading role to exploit all untapped areas of mutual cooperation. He said Vietnam’s investors should visit Pakistan to explore JVs and investment in CPEC. He said Pakistan could export or-

Traders to explore venture into African continent KARACHI

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igh Commissioner of Mauritius Rashid Soobadar has urged the business and industrial community of Karachi to look into the possibility of enhancing trade in Africa and venture into this huge continent via Mauritius which can be used as a platform to efRiciently and safely penetrate into 55 countries in the African region.

“The scope in Africa is tremendous, which is developing fast and has a bright future. Hence, the business community of Karachi should take advantage of the situation by registering their companies in Mauritius. Once the company is registered in Mauritius, it will be able to enjoy all the beneRits being extended to Mauritius including duty-free ac-

cess under numerous agreements with African countries”, he added while speaking at a meeting during his visit to Karachi Chamber of Commerce & Industry (KCCI).

President KCCI Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak, Honorary Consul of Mauritius in Karachi Sohail Yasin Suleman, Commercial Head Muhammad Sajjad Azam and KCCI Managing Committee members attended the meeting. Mauritian High Commissioner stated that besides exploring trade and business ties in Mauritius, the business & industrial community can also look for opportunities in neighboring countries including Madagascar, Seychelles, Tanzania, Rwanda and Mozambique.

Highlighting the performance of Mauritian economy, he said that it was a monocarp economy in the beginning when the only economic ac-

tivity in the island was plantation of sugarcane. “From a monocarp economy, we have been able to diversify and today, the Mauritian economy rests on four to Rive strong pillars including Financial Services, ICT, Tourism and Manufacturing. We are an open and liberal economy whereas our political system is based on Westminster model of democracy. The democracy in Mauritius rests on strict rule of law, which is very important component for businesses and trade as well.

This principal of good governance resting on the rule of law has helped the island develop very well”, he added. He said that Mauritius has been witnessing good growth rate in between 5 to 7 percent during the last 15 years whereas its per capita income has risen to $12000 from a mere $200 when it came to existence in 1968.

anges, mangoes, meat and many other products to Vietnam. He said that Pakistan and Vietnam should make joint efforts to identify impediments in two-way trade and take measures to further promote trade relations. He said encouraging frequent exchange of business delegations and increasing cooperation among their respective chambers of commerce & industry and trade promotion bodies should be given more focus to improve two way trade up to the real potential of both countries.

State Bank urged to adopt long-term policies ederation of Pakistan Chambers of Commerce and Industry (FPCCI).

Urged the State Bank of Pakistan (SBP) to adopt long-term policies, besides regulating public sector spending and unabated borrowing instead of increasing bank interest which would pressurize industrial sector. FPCCI Vice President and Regional Chairman Chaudhry Arfan Yousaf expressed concern over Monetary Policy announced by the SBP for the next two months, raising its main policy interest rate by 25 basis points to 6 percent after the recent depreciation of the rupee. He was of the view that the bank had reversed the downward trend in the interest rate despite the fact that industrial sector was still in trouble, while country’s. –CB Report

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ANF arrests five drug traffickers PESHAWAR: The Anti-Narcotics Force (ANF) has arrested five alleged smugglers, including a Nigerian national, and recovered drugs from their custody in different actions. An official of the ANF said a Nigerian national Anayanwu Lucky, Roma, a woman from Attock, and one Mohammad Ilyas were arrested in three different actions.

A total of 1.2 kilograms of hashish and 0.88 kilograms of heroin were recovered from them.

Thursday, February 8, 2018

CUSTOMS BULLETIN

peshawar customs collects Rs1905.13 million during January PESHAWAR nADIR khAn

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he Customs Collectorate made a total of Rs1905.13 million revenue collections in January 2018 against Rs1612.19 million of January 2017 with total difference of 15.94 percent while the difference in rupees is Rs255.54 million. According to statistical section of Peshawar Customs House in head of custom duty in the month of January the house collected Rs786.41 million against Rs555 million collected in previous January. The total difference in this sector was recorded Rs230 million while the difference in percentage was Rs41.48 million.

In head of sale tax on import, the house collected Rs512.23 million in January 2018 as compare to Rs436.35 million in January 2017 having difference of Rs75 million while the difference in percentage was Rs17.93 million.

Likewise in head of sale tax levied as federal excise duty on palm oil, the Collectorate collected Rs172.51 million in January 2018 against Rs160.70 million of January 2017. The difference in percentage was 7.35 percent while the differ-

ence in rupees was Rs11.81million.

In head of sales tax value addition on commercial importers the house collected Rs95.74 million against Rs64.17 million.

The difference in percentage was 49.20 percent while the dif-

ference in percentage was Rs31.57 million. In term of federal excise duty on imports the house collected Rs16.24 million in January 2017 against the previous year of this month which was Rs13.39 million with difference Rs2.85 million

and the difference in percentage was 21.28 percent.

In head of withholding tax the house collected Rs322 million against the previous year of this month which was Rs381.65 million with total difference minus Rs59

million while the difference in percentage was minus 15 percent. overall performance of the house was satisfactory as compare to the previous month as the house tightened the noose against tax evaders and smugglers.

gwadar customs seizes smuggled goods & narcotics worth Rs52.58m KARACHI

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he Customs Collectorate Gwadar has impounded huge quantity of smuggled items which included Iranian diesel, Indian silk, Iranian brake oil, computer accessories, electronics items, imported watches, Rine quality of hashish, cameras, chassis, tyres and other different non duty paid items

worth Rs 52.58 million during the month of January 2018.

Sources told Customs Today that Customs Collectorate has impounded various types of luxury vehicles tyres and radiator worth more than Rs 8.50 million on Wednesday morning.

Sources told , that on the directives of the deputy collector Gwadar operation against smuggled items and non-duty paid luxury vehicles is going on in full swing and several raids have been conducted during previous month of December and operation of smuggled items and continue on

month of January. Sources told that on Wednesday morning

deputy collector Gwadar constituted a team of Customs Anti-

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by (Ibne Hassan Offset Printing Press, Shop No. 33 to 36 , Hockey Stadium, Karachi).

Smuggling Organization (ASO) under the supervision of Customs Preventive Inspector Mushahid Ali and others. The team, during a search operation on Gwadar highway, intercepted a truck bearing registration QD-4562 which was going out of the city. During the raids, the customs team impounded 100 tires of luxury vehicles, and 50 imported radiators worth Rs 8.50 million.

The customs team arrested two smugglers who were involved in smuggling and registered an FIR against the accused persons and started investigations.