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Karachi, Fri February 9, 2018

LAHORE

M HAYAT

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ollectorate of Customs Appraisement has collected Rs6356 million all duty and taxes during the month of January of Rinancial year 2017-18 by posting a growth of 24 per cent against the monthly assigned target of Rs5138 million. As per details, the Collectorate of Customs Appraisement collected Rs2340 million under the head of customs

duty (CD) during the period under review against the proposed target of Rs1762 million for the month of January 2017. Similarly, the Collectorate of Customs Appraisement collected Rs3373million on account of sales taxes (ST) during the period under review against the assigned target of Rs2905 million during January. On the other hand the Collectorate of Customs Preventive collected Rs622million on account of withholding tax (WHT) against the target of Rs470 million for

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month of January. Likewise the Collectoarte collected Rs20 million on account of federal excise duty (FED) during the said period against Rs 0.03 million proposed target for the period. Overall the Collectoarte collected Rs 6356 million duty and taxes during period under review. It is necessary to mention here that Collector Apprasisement Jamil Nasir Khan has directed all his staff to use all available resources to recover outstanding amount from defaulters during current Fiscal Year of 2017-18.

Customs Islamabad shows 336. 17 percent increase of Sales Tax in Jan

DG Valuation to revise customs values of PC stranded wire of Iron

Punjab receives 97% taxes through e-payment

ADB to continue supporting climate smart growth

Customs Multan goes surplus with collection of Rs1384 million

MCC Islamabad posted 336.17% growth under the head of Sales Tax | See pAge 02 |

DG Valuation, has decided to revise the VR No: 716/2015 on March 27 | See pAge 03 |

Dr Aisha Ghous has said that almost 97 pc of taxes in the province of Punjab | See pAge 04 |

ADB said that it remained committed to working with Government of Pakistan | See pAge 14 |

MCC Multan has exceeded the allocated revenue collection target of Jan | See pAge 16 |

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Dry Port earns Rs11.54m more revenue than earmarked target during Jan Friday, February 9, 2018

Islamabad

ISLAMABAD: The Dry Port Margallah received Rs11.54million of extra revenue during four weeks of January FY17-18 against an allocated proportional revenue collection target of Customs Duty (CD). According to details given by sources of Islamabad Dry Port (IDP) that it earned Rs324.45million during 1st to 28th of January 2017-18 while it was assigned Rs312.91million proportional revenue target under the head of CD. The IDP generated 104% average of achievement against a proportional revenue collection target.

customs islamabad shows 336. 17 percent increase of ST in January

ISLAMABAD

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TAriQ DerYA

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odel Customs Collectorate, Islamabad has announced to auction confiscated vehicles and goods on February 8 at State Warehouse of the collectorate, plot No. 281-82, Main Golra Service Road, G-12 Islamabad. The following vehicles and goods will be presented for auction: Vehicles: Toyota Hiace Van Model 2001, Diesel 2446cc, Reg. No. X68-3273, Chassis No. LH1147009291 Toyota Sedan Saloon, Model 1994, 1600cc, Reg. No. UN67-758, Chassis No. AT190-0124760 Toyota Land Cruiser, Model 2002, Diesel 2800cc, Reg. No. UN67-1405, Chassis No. JTEBE91JX00014280 Toyota Land Cruiser Prado, Model 2003, Diesel 3000cc, Reg. No. UN-67-1424, Chassis No. JTEBK29J400003280 Toyota Hiace Van, Model 1996, Diesel 2400cc, Reg. No. UN67-796, Chassis No. LH114-7004523 Mercedes Benz Protected Car S-600, Model 2003, Bullet Proof (Subject to NOC), Reg. No. IDN-9962, Chassis No. WDB220178-2A-162287 Mitsubishi Pajero, Model 2005, Diesel 2835cc, Reg. No. LA-619, Chassis No. JTEBK29J900012461 Toyota Land Cruiser, Model 1996, 2774cc, Reg. No. CD6002/QM-059, Chassis No. LJ95-0001737 Goods: Ladies Fabric Auto Parts etc.

he MCC Islamabad posted 336.17% growth under the head of Sales Tax (ST) during the month of January FY17-18 against an earmarked revenue collection target. According to details explained by ofRicial sources of the Model Customs Collectorate (MCC) Islamabad that, during above said period, the MCC Islamabad earned Rs756million of Sales Tax (ST) while it was assigned a revenue collection target of Rs420million as ST. The MCC Islamabad received Rs336.17million of extra revenue against the allocated revenue collection target for the month of January FY17-18. The sources told Customs Today that the MCC Islamabad generated Rs428million under the same head during the same period of corresponding January FY16-17. The MCC Islamabad collected Rs328million of extra revenue of ST during January FY17-18 against the same previous period. The MCC Islamabad earned Rs5556million as ST during Rirst six months (July to December) FY201718 against an earmarked revenue collection target of Rs2340million. The MCC Islamabad generated Rs3216million of extra revenue against an allocated target of ST. The sources told CT that the MCC

islamabad customs to auction vehicles, goods

Islamabad showed 237% average of achievement during the Rirst half of FY17-18 against an assigned revenue collection target as ST. Meanwhile, The Quick Response Force (QRF) of the MCC Islamabad took into possession contraband goods and vehicles worth Rs8million during Rirst half of FY2017-18. Ac-

cording to details given by Shahrukh Butt, In-charge Quick Response Force (QRF) Islamabad, that the force registered Rive cases against tax evaders during above said period. The QRF has also registered Rive cases of smuggling of goods and impounded Rive offending vehicles during said period. In the Rirst seizure,

the QRF seized 350 kilogram of foreign origin ladies plain cloths priced at Rs0.183million. In the 2nd case, the QRF conRiscated 515kg of suiting cloths, 552kg of ladies suiting polyester cloths as well as it impounded 50kg of tea and four airconditioners along with an offending vehicle valued at Rs2.1million.

china-unDp sign accord to support crisis-aﬀected areas of fATA

ISLAMABAD

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hinese government and United Nations Development Programme (UNDP) Pakistan, signed a $4 million agreement to provide assistance over four months in areas of the Federally Administered Tribal Areas (FATA) and Balochistan affected by natural and human-made crisis. In Balochistan’s Naseerabad, Jaf-

ferabad and Sohbatpur districts, which were the worst affected by the 2010–2011 Rloods, 375 schools will receive new furniture and education kits. The project will be implemented in partnership with government stakeholders including the Disaster Management Authority, FATA Secretariat and Temporarily Displaced People Secretariat in FATA, and in Balochistan the Departments of Education and Planning and Development. The recovery project is supported by the Ministry of Commerce

(MOFCOM) of the People’s Republic of China and implemented by UNDP. The project aims to provide immediate response to meet the needs of the affected individual and communities through the distribution of essential supplies for the restoration of livelihoods. This initiative builds on UNDP’s ongoing support for early recovery and rehabilitation of affected populations in Pakistan and will provide 56,700 people (8,100 families) in Kurram, South Waziristan, North Waziristan, Khyber and Orakzai

Agencies with construction kits to rebuild their homes, as well as essential household items. The “China SouthSouth Cooperation Assistance Fund for the Recovery Project in FATA and Balochistan” will help 8,100 families returning to the areas affected by insecurity in FATA to rebuild their lives. In Balochistan, about 19,000 school children will beneRit as schools that were damaged in the 2010–2011 Rloods are refurbished. “The successful launching of this project renews our commitment to deliver strong

support to the people of Pakistan. In future, China will continue to increase the Grant Assistance to Pakistan, enriching the categories and sectors, expanding the input into areas with pressing demands including FATA and Balochistan” said Chinese Ambassador Yao Jing. Muhammad Aslam Chaudhry, Joint Secretary, Economic Affairs Division, said, “we are thankful to the Government of China for this initiative to provide immediate response to meet the needs of communities in FATA and Balochistan.

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SHC issue notices in fancy fabrics import case KARACHI: A Sindh High Court’s customs appellate bench has issued notices for Feb 6 in a petition ﬁled by fancy fabrics company. The petitioner moved the court through Ms Dil Khurram Shaheen advocate seeking implementation of orders of Collector Adjudication Asif Marghoob Siddiqui who also vacated a show-cause notice and ordered Pakistan Customs to release the consignment.

Q Mobile moves SHc against regularity duty Sro 1035(1)/ 2017

Friday February 9, 2018

Karachi

Dg Valuation to revise customs values of pc stranded wire of iron

KARACHI

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he Sindh High Court (SHC) reserved order with other connected petitions including constitutional petition filed by M/s Digicom (Q Mobile) against regularity duty on imports of various items including Q Mobile GMS mobile phones and other similar products/ goods under SRO 1035(1)/ 2017. A two-member bench, headed by Justice Munib Akhtar was hearing the petition. During the hearing, counsel for the M/s Digicom (Q Mobile) stated that the issues raised in this petition are already before the court which has been heard and reserved by the court.

court awards 15day imprisonment to HSD smuggler KARACHI

M B rAnA

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ustoms Court Judge Syed Faiz Rasool Rashdi awarded a 15-day imprisonment and a fine of Rs100000 to a suspect named Khair Muhammad S/o Noora Khan booked in a case of attempting to smuggle non-duty-paid foreign origin 17,000 liters of high speed diesel. During the hearing, abovementioned suspect appeared before the court along with his counsel and moved an application with the confession to the crime. After the arguments, the court framed a charge against him and awarded a 15-day imprisonment and a fine of Rs100000 as undergone period. On the last date of hearing, Investigation Oﬃcer had submitted a challan against the held suspect and informed the court that the Anti-Smuggling Organization intercepted a Hinotrack and recovered 17,000 liters of Iranian HSD oil valued at Rs1.4million.

KARACHI

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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 716/2015 on March 27, 2018, it is learnt. Director General Surriya Butt has said the department was reviewing suggestions from importers to set new prices of PC stranded wire of iron or steel, not electrically insulated. 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 PC PC stranded wire of iron or steel, not electrically insulated was requested. Sources said the Valuation Ruling No: 716/2015 was issued on 10 February, 2015. A meeting was held with the stakeholders on January 26, 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 pe-

Sources told customs Today that a petition was submitted by the importers to customs Valuation in which change in prices of pc pc stranded wire of iron or steel, not electrically insulated was requested

pcA detects tax evasion by M/s Alwani M Traders

KARACHI

M B rAnA

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he Directorate of Customs Post Clearance Audit (PCA) has detected duty and tax evasions of Rs 9.5 million allegedly by M/s Alwani M Traders, it is learnt. OfRicial sources told Customs Today that M/s Alwani M Traders imported a consignment of different kinds of surgical items under the PCT Heading 2548.2504 and got it cleared from the

Port Qasim Karachi vide GDs on November 17, 2017 by paying customs duty at 6 percent after claiming a beneRit of SRO 566/2007 through Examiner Ayoub Khaskheli. However, the subject item is correctly classiRiable under the PCT 2558.2541, attracting customs duty at 10 percent and income tax at 12 percent. So by doing mis-declaration of classiRication, M/s Alwani M Traders evaded to pay Rs 9.5 million. So the importer has violated the provisions of Section 49 (5) & (6B) of the Customs Act-1969, Section 5, 8 read

with Section 56 of the Sales Tax Act1990 and Section 132 of Income Tax Ordinance 2001 punishable under clauses (6) and 49 of Section 160(7) of the Customs Act-1969, Section 32 (4) of the Sales Tax Act-1990 and Section 140 & 147 of Income Tax Ordinance 2001 and Section 7-A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of Sales Tax by the importers) and under relevant provisions of the Income Tax Ordinance 2001.

tition was submitted by the importers to Customs Valuation in 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.

pak rupee depreciated against dollar he Pakistani rupee Wednesday depreciated against dollar both in open market and interbank. As per the local money market, the dollar gained five paisas in open market for buying at 111.75 and for selling at 112.05. The greenback added 10 paisas in interbank for buying at 110.40 and for selling at 110.60.

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IRSA releases 50,600 cusecs Friday February 9, 2018

Lahore

ISLAMABAD: The Indus River System Authority (IRSA) has released 50,600 cusecs water from various rim stations with inflow of 32,500 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1439.63 feet, which was 59.63 feet higher than its dead level of 1,380 feet. Water inflow in the dam was recorded as 17,900 cusecs and outflow as 32,000 cusecs. The water level in the Jhelum River at Mangla Dam was 1105.60 feet, which was 65.60 feet higher than its dead level of 1,040 feet whereas the inflow and outflow of water was recorded as 4,000 cusecs and 8,000 cusecs respectively.

customs preventive recovers hawks from iraqi national at Lahore Airport LAHORE

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he Collectorate of Customs Preventive team deputed at Allama Iqbal International Airport foiled an attempt to suggle precious hawks to Dubai OfRicial sources told Customs Today, that Collector Customs Preventive Faiz Ahmad received credible information about some smuggling attempts through airport. He immediately directed concerned teams to enhance checking in arrival and departure lounges of Allama Iqbal International Airport. During checking process the customs authorities intercepted a passenger who was leaving for Dubai and checked his luggage and found hawks worth millions of rupees. The

cement exports witness 7.82% decline in Jan he exports of cement continued to show dismal performance, reporting a decline of 7.82 percent from 0.38 million tons in Jan 2017 to 0.35 million tons in Jan 2018. According to the data released by All Pakistan Cement Manufacturers’ Association (APCMA), out of total cement despatches of 4.09m tons in Jan the domestic consumption was 3.74 million tons. Spokesman for the APCMA regretted that the government is not heeding to the requests of the industry to take steps for increasing exports and eliminating the unlawful smuggled imports of cement . He said that the industry is managing the import threat through eﬃcient operations and low profit margins. “The government should take measures to increase cement exports and curb the smuggling and under invoicing to provide some much needed relief to the industry. –CB Report

authorities took the Hawks into custody and arrested the passenger who belonged to Iraq. The Customs Preventive team asked him to produce any legal documents regarding possession of hawks but he remained failed to provide any relevant legal documents. Customs Preventive team seized the hawks and registered a case of smuggling against the Iraqi national started further investigations. It is necessary to mention here that Customs Preventive Collector Faiz Ahmad directed all anti smuggling squads to adopt zero tolerance policy towards smuggling. He directed to use all available resources to curb smuggling in the region. Sources told that Customs Preventive Collectorate already adopted a comprehensive strategy to curb smuggling and due to this there is marginable decrease is being witnessed in the smuggling attempts.

punjab receives 97% taxes through e-payment

LAHORE

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rovincial Minister for Finance Dr Aisha Ghous Pashsa has said that almost 97 percent of taxes in the province of Punjab are being received

customs Tribunal adapts ono in impugned indian raw cotton case

he Customs Appellate Tribunal has modiRied an Order-inOriginal in a case Riled by the M/s Indus Dying & Manufacturers against the Collector of Customs (Preventive) and Collector of Customs (Adjudication) Lahore. Muhammad Shabbir Gujjar heard the case in details and decided the case with remarks that the total amount of duties and taxes was already paid by the appellant so the redemption Rine is reduced from Rs50000 to 20000. Superintendent of

Customs (Imports), Land Freight Unit (LFU) Wagha, had reported a case that M/s Indus Dying & Manufacturers imported Indian raw cotton and claimed the beneRits of SRO 1125(I)/2011 for the payment of Sales Tax @ two percent instead of 13 percent. During the course of audit, the Customs Authorities found that importer wrongly claimed the beneRits of SRO and is liable to pay taxes and duties @ of 16 percent instead of two percent and also charged Rs3595060 from the importer. –CB Report

through e-payment. She said this while addressing the inaugural ceremony of the Punjab Information Technology Board’s developed online Business Registration Portal at Lahore Chamber of Commerce and Industries. The minister said that the Punjab government was determined to make Pakistan a developed country by enhancing the growth rate by improving the security and

energy conditions for creating conducive environment for the private sector through providing them ease of doing business by integrating more departments in the portal. Dr Ayesha said that the portal is developed for the Punjab Planning and Development Department in collaboration with Industries department to provide online solution to execute all business processes in a user-friendly environment and to improve productivity to conduct business registration activities efRiciently and in a timely manner. Sheikh Aladdin, provincial minister for industries, said that the new industrial policy is in the Rinal stage and would be announced soon. PITB Chairman Dr Umar Saif said that all large functions of the Punjab have been digitalized during the last Rive years, which include police, health, education, stamping, e-ticketing, subsidies on various services, transfer of property, providing various services through e-Khidmat Centers under one roof within stipulated time frame.

farmers urged to adopt tunnel technology griculture experts have advised farmers to adopt tunnel technology to grow offseason vegetables. According to a spokesman of Agriculture Extension Department, progressive farmers were earning good income by adopting the tunnel technology. He said that it was impossible for growers to grow summer vegetables during chill hours and winter vegetables during hot season. However, the offseason vegetables could be grown easily and successfully in tunnels. He said the vegetables

grown through tunnel technology were covered by green fiber sheets to protect them from severe cold and frost or scorching heat. With the intensive care, the farmers can get early production of the off-season vegetables and earn more income than seasonal vegetables, he added. He recommended the vegetable growers to get proper training of tunnel farming. Well fertile loamy soils having better drainage are the best for the cultivation of off-season vegetables, he added. –CB Report

fTo seeks reply from rTo in tax refund case

LAHORE

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he Federal Tax Ombudsman (FTO) has heard an appeal Riled by M/s Eastern Leather Company against Corporate Regional Tax OfRice (CRTO) and put off the hearing until the next date. FTO sought reply from the respondent

side in the same case. FTO Adviser Mian Munawar Ghafoor heard the case in which counsel for appellant argued that the Corporate Regional Tax OfRice (CRTO) has failed to release the tax refunds since two years claimed by the company. He said that the RTO has been collecting excessive taxes from M/s Eastern Leather Company for the last two years. He approached the com-

missioner concerned many a time for release of refunds but the CRTO ofRicials did not entertain the requests even after the passage of a reasonable time. At the end, the company decided to approach the FTO seeking his intervention in this case. The counsel appealed the FTO advisor to direct the CRTO to clear the refund claims. The counsel further said that the CRTO should re-

fund the additional collection of taxes by the end of Rinancial 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, FTO advisor Mian Munawar Ghafoor adjourned the case.

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he Federal Board of Revenue (FBR) has sent a note to the Finance Ministry to move a summary to the federal cabinet to increase central excise duty on import of edible oil, vegetable ghee and cooking oil from 15 percent to 20 percent to the extent of the Federally Administrated Tribal Areas (FATA) and Provincially Administrated Tribal Areas (PATA). The main objective of increasing central excise duty on edible oil, vegetable ghee and cooking oil is to provide a level playing field to the oil and ghee manufacturers of tariff areas vis-a-vis their counterparts of non-tariff areas. “However, the FBR has been of the opinion that in view of the peculiar circumstances in PATA/FATA, some protection has to be provided to industry set up there,”

Friday, February 9, 2018

sources at FBR told Customs Today. “In this regard an SRO 333 (1) /2002 dated June 15, 2002 will have to be amended” the sources said, adding that SRO had been issued by the federal government and therefore, any amendments in the said SRO required approval of the Federal Cabinet including Prime Minister within the meanings of article 90 of the constitution as has been held by the Supreme Court of Pakistan in case reported as PLD 2016 SC 808. The sources told

sing i n c re a f o e v jec ti le oil, ain ob n edib o y t Th e m u d il is excise king o l o a o r c t n d ce ld to hee an ing fie able g y t a e l g p e l v s leve c t u re r vide a anufa m to pro e e h s their l and g is-a-vi v the oi s a e a re a s iﬀ ar -tariﬀ n of tar o n f so erpar t count

that prime minister in his capacity as Federal Minister-in-charge of Finance, Revenue and Economic Affairs had approved submission of summary to the federal cabinet and mandated the Cabinet Committee for Disposal of Legislative Cases (CCLC) to dispose of cases relating to rules to be framed/ amended by the federal government. Moreover, the sources said that a summary had been submitted to Cabinet Committee for Disposal of Legislative Cases (CCLC) for increase in rate of central excise duty from 15% to 20% on import of edible oil, vegetable ghee and cooking oil. Pursuant to approval of CCLC, a separate summary shall be submitted to federal cabinet for obtaining approval to the proposal. It is pertinent to note here that Senate has recommended in the Finance Bill 2017 that CED on edible oil should be increased from 16% (although actual rate of central excise duty is 15%) to 21.5% as well as 1% income tax should be imposed on industry at import stage, which should be final tax liability.

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eDiToriAL

fallouts of international bonds

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.

Abandoning development schemes A

LAHORE

Dr AfTAB AfZAL

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ccording to media reports, the federal government has cut the budget for 400 development schemes partly to fund the projects in the political constituencies and partly to save money for the general elections. The decision will spare at least Rs 200 billion at the cost of 175 new and 217 ongoing schemes. Apart from this, the Ministry of Finance has also notified a cut of 10 percent in the development expenditures of all federal ministries. Experts believe the decision will consume the entire budget of the second half

of the current fiscal year as well as will increase the cost 392 schemes when the same will be re-launched next year. Several dozen approved, unapproved and ongoing schemes of the Public Sector Development Programme will also face cut in the financing. This is the classic example of mismanagement and administrative failure in this country where the leaders love to make photo sessions and install plaques of inauguration for the development projects the most of which are abandoned half way. There is no one to be held accountable for the loss of the public money and the planners of the unfinished projects and

schemes have never been identified. As hundreds of development schemes are already at the verge of collapse, another 220 new proposals and projects are in the pipeline and are awaiting approvals from the competent authorities. It appears the policymakers have no capacity to look into the future and it will be a matter of self-description to expect that they would be able to make long term policies for the nation. It is not a secret that thousands of development schemes launched by the Pakistan People’s Party government under People’s Works Programme were abandoned by the PML-N government back in 1990s. And

the PPP government did the same with the PML-N schemes during its tenure in the office. There is only one solution to all these woes and that is to depoliticize the government departments. There is a need to make legislation to rid the political interference in the official business. The state should continue to function on its own without caring which political party is governing the country. The political parties, while sitting on the opposition benches, should hire experts and technocrats to do homework and serve the nation in better way after coming to power.

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SHC adjourns hearing of petition seeking release of oil tanker till Feb 20 KARACHI: A Sindh High Court’s customs appellate bench has adjourned the hearing of a petition seeking release of an oil tanker till Feb 20. Earlier, the bench heard the petition seeking release of an oil tanker detained by FIA which later handed it over to the Pakistan Customs, Preventive which was adjudicating the case. The petitioner/appellant filed an appeal before the Special Customs Appellate Tribunal which ordered release of the said vehicle. The Pakistan Customs informed the bench that a Special Customs Reference Application (SCRA) has been filed by the department. The bench in view of new development fixed Feb 20 for a final hearing of the SCRA.

court issues nBws against absconders in vehicle smuggling case

Friday February 9, 2018

National

customs Tribunal reserves verdict of reference filed M/s klaguardia Logistics

LAHORE

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ustoms Court Judge Syed Faiz Rasool Rashdi has issued nonbailable warrants against absconding suspects, Jacob Jahangir and Sheeba Jacob, the wife of Jacob Jahangir, who were booked in a case of smuggled/ non-duty paid Suzuki Sierrra jeep. On the last date of hearing, the investigation officer had submitted interim charge sheet against the suspects and informed the court that staff of the AntiSmuggling Organization intercepted smuggle/ non-duty paid Suzuki Sierrra jeep registration number E-703 1300 CC Model 1996 having tampered chassis worth Rs 1,444,589. He further informed the court that suspects Jacob Jahangir son of Jahangir Saleem and Sheeba Jacob Jahangir wife of Jacob Jahangir are involved evasion of duty and taxes in

ISLAMABAD

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ustoms Appellate Tribunal reserved decision on customs reference involving by M/s Klaguardia Logistics and Collectroate of Customs, Islamabad. Customs Appellate Tribunal’s bench comprising of Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the matters submitted by M/s Klaguardia Logistics and M/s Trade Master against Collectroate of Customs, Islamabad. After hearing arguments the bench reserved decision on M/s Klaguardia Logistics case and adjourned hearing on M/s Trade Masters case. Another bench of Customs appellate tribunal’s Member Technical, Ziaddin Wazir heard the cases of Raja Nabeel, Waqas Enterprises, Arshad Khan and Musawir Shah and dated in ofRice for further arguments. Raja Nabeel had Riled the cases against Directorate of Intelligence and Investigation, Islamabad. Other three appellants had Riled their cases against Collectorate of

Customs, Islamabad. The appellants had Riled cases against Directorate General of Intelligence and Investigations, Islamabad and Collectorate of Customs, Islamabad. Meanwhile, 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 Telecommunica-

tion Co Limited had Riled the customs reference against the MCC. Earlier, the bench had reserved the judgment on M/s National Highway Authority’s matter which had challenged the decision announced by MCC’s collector customs before the tribunal.

Sindh excise collects rs27.31b revenue in 1H with 11% growth KARACHI

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the tune of Rs1,391,067 to the national exchequer. He said that prosecution is trying its best to arrest the above mentioned suspects. After hearing, court had accepted interim charge sheet against above mentioned suspects and directed him to arrest and produce them before the court on next date of hearing. According to the prosecution, case was registered for violation of under section 2 (s) 156 (2) 157 (2) and 178 of Customs Act, 1969 punishable under clauses 8 & 89 of section 156 (i) ibid read with section 3 (1) of Import and Export Control Act, 1950.

indh Excise and Taxation Department has collected Rs27.31 billion in revenue during the Rirst half of 2017-18, showing a growth of 11 per cent over the corresponding period when collection stood at Rs24.69 billion. Almost all the heads under which duty and taxes are being collected recorded moderate to big gains with the exception of property tax, which made a modest fall of 1pc to come in at Rs1.24 billion during Rirst half of the last Riscal year. The highest growth has been registered in collection of excise duty by 48pc at Rs2.33 billion as against Rs1.57 billion collected in the same period last Riscal year. Increase in motor vehicles’ taxes

followed, up 22pc, at Rs3.14 billion compared to Rs2.58 billion recorded in the corresponding period last year. Revenue collection on account of infrastructure cess rose by 7pc at Rs20.19 billion as against Rs18.93 billion collected in the same period last year. Sindh Excise and Taxation Department Di-

rector General Shoaib Siddiqui said that the infrastructure cess is collected on imports and was introduced in 1994 in order to charge all imports using province’s roads, bridges etc and has online link with Customs’ WeBOC (Web-Based Once Customs) system. The collection of cotton fee recorded 27pc growth at

Rs150m versus Rs128m collected last fiscal year. The professional tax also registered a nominal rise of 3pc at Rs230m compared to Rs225m collected last year. The entertainment duty grew by 12pc at Rs28m in contrast to Rs24m collected in December 2016. However, property tax witnessed a modest decline of 1pc at Rs1.24 billion compared to 1.24 billion last Riscal year. Explaining the fall in collection of property tax, Siddiqui said that at the start of new Riscal year the computer system faced some issues for couple of months and with its restoration the collection is improving. He further said that in order to facilitate taxpayers, the department has started working on a scheme to collect taxes online. In the Rirst stage, motor vehicles would be introduced to the system while other taxes will be added from next Riscal year.

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SHC customs appellate bench to hear petitions filed for release of vehicles Friday February 9, 2018

National SHc orders release of six nonwoven interlining buckram consignments

KARACHI: A Sindh High Court’s customs appellate bench fixed Feb 12 for hearing a constitution petition filed by one Muhammad Usman seeking release of his Toyota X vehicle model 2008. Ms Dil Khurram Shaheen advocate represented the petitioner and sought implementation of orders of the Special Customs Appellate Tribunal. The same bench hearing another petition filed by Muhammad Imran, seeking release of Toyota Mark ‘X’ took comments filed by Directorate of Intelligence & Investigations on record.

fBr says no missing of target; revenue collection on track

ISLAMABAD

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ISLAMABAD

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Sindh High Court’s customs appellate bench has ordered release of six consignments of nonwoven interlining buckram. The customs appellate bench, comprising Justice Munib Akhtar and Justice Mrs Ashraf Jahan, issued order over ruling an order-in-revision passed by the Director General Valuation adding a new item while hearing a revision application. The bench was hearing constitution petitions filed by two importers Taipan and Ana & Batla private limited who challenged the enhancement of value of the imported item travelling beyond section 25 of the Customs Act 1969. A petitioners’ counsel submitted that DG Valuation acted beyond jurisdiction when he added the item in dispute while hearing a revision application. The bench after hearing the sides ordered release of all the six consignments holding that the same be released as per data as the“add on”at revision stage does not aﬀect these consignments in dispute.

LDA submits Ashiana Housing Scheme records with nAB ahore Development Authority (LDA) Chief Engineer Israr Saeed submitted financial records related to the Ashiana-e-Iqbal Housing Scheme before the National Accountability Bureau (NAB). According to reports, NAB is reviewing all the provided documents and if required can again summon LDA authorities. Punjab Chief Minister Shehbaz Sharif appeared before NAB on January 22 in connection with the Ashiana Housing Scheme inquiry. The bureau has been conducting an inquiry against the officials of the Punjab Land Development Company (PLDC), Lahore Casa Developers, Lahore Development Authority and others, said a notification issued by NAB Lahore.

he performance of Federal Board of Revenue, during the Rirst 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 Rigure of Rs 74 billion is baseless and misconceived, the FBR clariRied 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 Riscal year through generating revenue growth of 19.2% over the revenue collection for the last Riscal Year. FBR has clocked provisional collection of Rs 2,000 billion for the Rirst seven months of the Riscal year. This impressive performance is de-

spite 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 Rigures has collected Rs 273 billion as against Rs 228 billion in January 2017,

showing growth of 19.7% over the collection of January 2017. It may be kept in mind that the collection to be received through book adjustment entries is not included in the provisional Rigures. This is a huge improvement on the growth of around 8% registered in the last year. Implying that the performance of FBR is unsatisfactory is not only against facts but also unfair to the hard work put in by its ofRicials. This is the same organization which has surpassed revenue collection of Rs 1946 billion in the entire Riscal year 2012-13 in just seven months of the current year. It is worth mentioning that historical trends show that in the Rirst seven months around 50% of the annual collection is realized and revenue of over Rs. 2,000 billion in this period shows that FBR is on track to achieve the target of Rs. 4013 billion for the year.

gwadar customs seizes smuggled goods & narcotics worth rs52.58m during January 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 consti-

tuted a team of Customs AntiSmuggling Organization (ASO) under the supervision of Customs Preventive Inspector Mushahid Ali and others.

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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.

iHc postpones hearing of case involving fBr field oﬃces, pTML ISLAMABAD

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he Islamabad High Court (IHC) dated in office the hearing of customs matters involving M/s Pakistan Telecom Mobile Limited (PTML) and the Federal Board of Revenues (FBR) field offices. The appellant had challenged the act of recovery by Commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad. Justice Aamer Farooq had earlier directed the parties to submit record of the cases. In recent week, the bench had reserved decision of the case of M/s Hasas Engineering and Construction Company (Private) Limited after hearing the arguments in the case

with submission of the record. ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty. The appellant had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings. M/s Hasas Engineering and Construction Company Private Limited had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not address grievances of the appellant.

National

customs export retrieves evaded taxes & duties from defaulter companies

customs court calls witness in mega tax evasion case KARACHI

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ustoms (Taxation & Anti-Smuggling) Court Syed Faiz Rasool Rashdi directed an Investigation Oﬃcer to produce the witness against suspect namely Amir Shoukat S/o Shoukat Hayat held in a case of mega tax evasion and mis-declaration. On the last date of hearing, counsel for the accused had appeared before the court along with his counsel and argued that his client is innocent and was falsely implicated in the case. However his client is ready to face the trail therefore court may grant him a bail till the final judgment in the same case. After his arguments, the court had granted him pre-arrest bail against the surety of Rs100000 and directed the suspect to appear before the court on the next date of hearing. The court also issued notices to the customs oﬃcials and special prosecutor of Customs Department directing them to file their respective para-wise comments on the next date of hearing. It needs to be mentioned here that when the First Information Report (FIR) was produced before the court, suspect Amir Shoukat S/o Shoukat Hayat was showed as absconder.

KARACHI

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he Customs Export recovered evaded taxes and duties amounting to Rs15.56million from the defaulter companies which had been earlier issued with notices in this regard. Sources told Customs Today that, during scrutiny of the import data, it was found that M/s Wadiha Garments and Export availed undue beneRits and concessions by importing different consignments and also misusing the SRO 567. The company was found involved in a tax evasion of Rs7.98million. After detecting tax evasion, the Customs Export issued them with a Rinal notice to deposit the evaded amount in the ofRicial account within seven days. After receiving the notice, the management of the M/s Wadiha Garments and Export deposited the evaded amount in the ofRicial account of the Customs Export. On the other hand, the management of the M/s Areesha Boutique also cleared Rs4million of taxes and duties. Sources told CT that M/s Areesha Boutique also availed undue beneRits and concessions and

Friday February 9, 2018

avoided paying taxes according to the Customs bylaws. The Customs Export authorities served a Rinal notice on them. After receiving the notice, the management of the M/ s Areesha Boutique paid the evaded amount of taxes. Other defaulter company

named M/s Rim Jhim Associates deposited Rs3.58million against the Rinal notice No: 289/2017 issued on December 29, 2017. Sources said Customs Export will solve 16 more cases in the upcoming month and the recovery will continue.

SAArc Business Leaders conclave to be held from March 16

ISLAMABAD

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nder the theme “Unleashing Shared Prosperity through Economic Integration” 6th SAARC Business Leaders Conclave will be held from March 16 to 18 in Kathmandu, Nepal. Conclave will host business delegates, governments and ministers from Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. This auspicious event is likely to be inaugurated by the Prime Minister of Nepal and all ministers. The inaugural session will be followed by Ministerial Round and

Technical sessions, colorful musical and cultural evenings, aimed at promoting people to people and cultural connectively in the region. Conclave will witness the largest gathering of 500-750 private sectors representatives of South Asia. The outcome of the 6th SBLC will go a long way in promoting economic activity and developing cordial relations among the communities of member nations. SAARC CCI is committed to bringing intra-regional investment to promote economic integration in the region. At this important occasion, 6th SBLC shall provide an opportunity to engage both the political and

business leaders to discuss deeper economic integration and explore new paths of sustained and inclusive economic growth for a prosperous and peaceful South Asia. SAARC Business Leaders Conclave will be organized jointly by SAARC Chamber of Commerce and Industry, Federation of Nepalese Chambers of Commerce and Industry (FNCCI), in partnership with Friedrich Naumann Foundation (FNF) and with support of Nepalese government. The SAARC Chamber of Commerce and Industry has been facilitating and promoting trade, service, industry, Small and Medium Enterprise, agriculture in the SAARC region through creating

strong business linkages among the entrepreneurs of the of South Asia. SAARC CCI aims to provide a platform to the leading politicians, opinion makers, prominent academicians, Industry players, renowned and celebrated Rigures to discuss and deliberate upon contemporary and emerging issues faced by South Asia and envision a strategic framework in form of policy recommendations for SAARC. After establishing its credentials as DAVOS of South Asia, SBLC is the most prestigious private sector initiative in South Asia, which is supported by all National Chambers of Commerce & Industry from SAARC member countries.

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World Customs

Japan’s Dec caustic soda output rises 4% on month

TOKYO: Japan’s caustic soda production in December rose 4.4% from a month earlier to 368,207 mt, the Japan Soda Industry Association said in a statement Friday. From a year earlier, production rose 2%. In 2017, Japan’s caustic soda production rose 3.4% year on year to 3.99 million mt, it said. Meanwhile, Japan’s caustic soda exports rose 2.7% month on month to 63,510 mt in December. From a year earlier, the exports marked a 11.1% decline.

Friday February 9, 2018

Sri Lanka navy nabs two suspects trying to smuggle gold

uS business tax cut could erode europe’s tax base WASHINGTON

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COLOMBO

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ri Lanka Navy has arrested two individuals in the Northern seas yesterday foiling an attempt to smuggle 12 kilograms of gold worth Rs. 70 million out of the country. Based on information received by the Navy, a group of naval personnel attached to the North Central Naval Command, under the directives of its Area Commander, Rear Admiral Meril Wickramasinghe, nabbed the two suspects in a dinghy Sunday night in the sea area of Urumalei when they attempted to smuggle the 12 kg of gold to India via sea. According to the Navy, the consignment of gold that is worth over Rs 70 million was in the form of 120 biscuits each weighing 100g. The dinghy used for the transportation of the consignment was also seized

iran Qatar crude exports to Asia are tanking his week, figures emerged showing a decline in oil exports from the two OPEC members to key Asian customers. Bloomberg reported that Qatar’s crude exports to Asia have declined severely, while Reuters showed the same figures for Iran. The latter’s exports to Asia declined by 16 percent year-on-year in December, settling at a level of 1.58 million bpd, while at the same time Iranian oil exports in 2017 to Asia increased by 2.5 percent reaching a level of 1.67 million bpd. The December decline in Iranian oil exports is considered to be a result of the threat by the Trump Administration of a potential renewal of U.S. sanctions over Tehran’s nuclear program. For Iran, the future seems to look bleak, as even stalwart Asian supporters such as China are getting less interested in the Iranian oil and gas sectors. –CB Report

by the Navy. The suspects, gold and dinghy were handed over to the Jaffna Provincial Customs OfRice for onward legal action. Meanwhile, Australia warned Sri Lankans to beware of lies spread by people smugglers following media coverage of three recent failed human smuggling attempts. The Australian High Commission in Sri Lanka said in a statement that Aus-

tralian border protection authorities last December intercepted a people-smuggling boat with 29 Sri Lankan nationals on board, and all of the 29 people had been returned to Sri Lanka. Sri Lankan authorities also recently disrupted two planned illegal boat ventures before they departed the island country. The vessel intercepted last December was headed for Australia.

Brazil’s higher protein gMo soybeans hurting uS exports to china

eclining protein levels make soybeans less valuable to the $400 billion industry that produces feed for cattle, pigs, chickens and Rish. And the problem is a key factor driving soybean buyers from the U.S. to Brazil, where warmer weather helps offset the impact of higher crop yields on protein levels. Seed developers have had great success boosting yields through traditional breeding meth-

ods and genetic engineering to make crops use less water, tolerate weed killers and grow better in colder or drier climates. But they have yet to crack the genetic code that would raise protein content without hurting yield, seed breeders said. Brazilian soybean producers use the same genetically modiRied seeds as their U.S. counterparts, and have also seen a reduction in protein content. –CB Report

S in the short term. However, it warned that longterm effects were less clear, especially if the cut leads to larger US budget deficits. Effects on the 19-country eurozone are “highly uncertain and complex” but could include an erosion of the tax base if countries around the world compete by lowering their tax rates to attract businesses. Lower US corporate tax rates raise the tax attractiveness of the United States relative to other countries,” the report said.Prior to the reform, the US corporate tax rate stood above the rates of all large euro area countries, while, after the reform, it is close to the lower end of rates in those countries.” The legislation, which was pushed by US president Donald Trump and signed into law

in December, lowers the American corporate tax rate from 35% to 21%, among other changes. This came into effect on January 1. Meanwhile, the UN’s trade and development agency said that as multinational companies return an estimated two trillion dollars (£1.4 trillion) to the United States because of the tax law, there could be “sharp reductions” in foreign direct investment worldwide. The UN Conference on Trade and Development (UNCTAD) noted in their own preliminary report that the tax law includes a one-time tax on accumulated foreign earnings that could free up funds overseas to be repatriated. UNCTAD secretary-general Mukhisa Kituyi said the impact on investment in the developing world remains unclear. The agency says nearly half of all global investment is in the United States or owned by US multinationals, which have kept about 3.2 trillion dollars (£2.2 trillion) in earnings overseas.

Turkish flat steel imports up 3% in 2017 urkey’s import volumes of Rlat steel products increased by 3.14% year on year in 2017, according to data released by the Turkish Statistical Institute (TUIK) . Turkey imported 8,390,305 tonnes of Rlat steel in January-December 2017. This compared with 8,134,707 tonnes in 2016. The reasons for the increase were the competitiveness of import prices and the strong demand for Rlat steel in Turkey, sources said. Metal Bulletin’s weekly average price assessment for Turkish domestic hotrolled coil (HRC) was $545 per tonne ex-works on January 6, 2017,

while the average price assessment for Turkish HRC imports on the same day was $515 per tonne cfr. On December 29 last year, the corresponding weekly average price assessments were $602.50 per tonne for domestic HRC and $575 per tonne cfr for imports. Meanwhile, Turkey’s exports in 2017 amounted to over $157.05 billion, a 10.2 percent rise compared with the previous year, the Turkish Statistical Institute (TurkStat) announced Wednesday. The country’s foreign trade volume reached $390.84 billion in 2017, marking a 14.56 percent. –CB Report

Saudi Arabia consumer goods industry records growth

A RIYADH

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ccording to the latest Monster Employment Index (MEI), Saudi Arabia witnessed record growth of 30% in the consumer goods industry in Q4 2017. This was in advance of the introduction of a 5% percent VAT on most commodi-

ties and services. The Kingdom of Saudi Arabia imposed a 5% tax as part of its economic diversiRication efforts to broaden its investment base and boost state revenue, reducing its dependency on oil-based income. The increase in the consumer goods industry can be attributed to the Kingdom’s large population taking advantage of pre-tax prices by stocking

up on products and supplies. Commenting on the most recent Q4 2017 MEI, Sanjay Modi, managing director, Monster.com, APAC & Middle East, said: “We are not surprised at the results of the latest Monster Employment Index, given that the Rinal VAT law in Saudi Arabia was passed at the end of July last year. We have been anticipating an increase in consumer spending before the tax came

into effect at the start of 2018. “The large population of the Kingdom has been stockpiling on products and commodities before the price-hike, a trend that we have seen in other GCC countries like the UAE. We have also seen businesses take advantage of the upcoming tax by launching promotions and sales to encourage customers to buy now, before the VAT comes into effect.”

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Malaysia GDP growth to fall 5% in 2018 KUALA LUMPUR: Investments are expected to decline from 6.4% in 2017 to 3.8% in 2018, as Malaysia remains a “challenging market” for alpha investors. The critical aspect concerning Malaysia are a quite expensive fundamental valuation. In spite robust economic developments, earnings momentum slows down further and the country as investment region is relatively unattractive versus other ASEAN countries,” VP Bank said. Exports increased last year, which was mainly due to the Asia-wide tech cycle. The rising palm oil and LNG volumes and prices also supported the increase, including the rise in rural incomes.

Shipping activity at port Qasim hree ships, MSC Algeciras, Maersk Chicago and Al-Soor-II carrying Containers and 60,400 tonnes Diesel oil were allotted berths at Qasim International Container Terminal and FOTCO Oil Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) here on Wednesday. In the meantime another oil tanker ‘Glorious’ carrying 59,967 tonnes Diesel oil also arrived at outer anchorage of Port Qasim. Berth occupancy was maintained at the port at 41% on Tuesday where a total of seven ships namely, MSC Algeciras, Maersk Chicago, Santy, Great-61, Nvios Coral, Umm Addalkh and Al-Soor-II are currently occupying berths to load/offload Containers, Rice, Coal, Soya Bean, Palm Kernel and Palm oil during last 24 hours. Cargo throughput during last 24 hours stood at 129,425 tonnes, compris-

Ports & Shipping

energy sector fuels brisk shipping at port LONDON

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hipping activity at the Port of Muskogee increased signiRicantly in 2017, posting double-digit gains for all modes of transportation available at the inland port. Barge tonnage outpaced 2016 tallies by more than 20 percent. Rail and truck tonnage posted gains of more than 38 percent and 82 percent respectively when compared with previous year totals. Port Director Scott Robinson attributed the brisk shipping activity to the oil and gas industry. Baker Hughes, which has been tracking rig count since 1944, reported on Jan. 19 that there were 936 active rigs in the United States, which is up 242 from the same week in 2017. “I would attribute that more than anything else to the very strong rebound in the oil and gas sector,” Robinson said, citing a signiRicant increase in the amount of steel and steel products shipped to and from the port this past

year. “Most of the steel is used to make pipe …, and, of course, the outlook for oil and gas is still very strong …, so I see that continuing.” and exported goods shipped by barge in December totaled 43,242 tons, which represents an decrease of 19.42 percent or 10,421 tons from the 53,663 tons shipped during the same month in 2016. While monthly totals for barge tonnage slipped in December compared with the same period a year ago, the annual total of 696,719 tons was

the best since 2014, when 708,399 tons of commodities were shipped by the marine highway. Robinson said the Port of Muskogee differs from most other inland ports along the McClellan-Kerr Arkansas River Navigation System, where barge tonnage is fairly balanced between imported and exported commodities. Nearly 88 percent of the barge tonnage reported at the Port of Muskogee, he said, consists of imported commodities — about 41 percent is used at Dal-Tile.

Friday February 9, 2018

kpT shipping movements report ARACHI: Following were the Movements of Ships at the Karachi Port Trust (KPT) during last 24 hours, ending at 0700 hours. SHIPS SAILED: Talassa Rickmers new Orleans. M.T.Lahore Hamburgs Star Bon Atlantico CMA CGM Tosca Hamburg Bay Panoria SHIPS BERTHED: YM Wealth Container Ship Sima genesis Container Ship Porthos General Cargo Bahra Tanker Fotini Lady Tanker MSC Maritina Container Ship Hong Fa Shang hai General Cargo EXPECTED SAILING DATE Bedford Castle 31/01/18 Kota Kamil 31/01/18 Sima Genesis 31/01/18 EXPECTED ARRIVAL DATE CARGO Mid Nature 31/01/18 L/10500 Ethanol BW Gallium 31/01/18 L/15000 Ethanol Ever Diamond 31/01/18 Cont Mol Endowment 31/01/18 Cont M.T.Karachi 01/02/18 D/70000 Crude Oil YM Mirinda 01/02/18 D/3000 Meg Nord Larkspur 01/02/18 D/50354 Mogas Hansa Offenburg 01/02/18 Cont. –CB Report

uS ports take baby steps in automation ing 111,031 tonnes import cargo and 18,394 tonnes export cargo inclusive of containerized cargo carried in 3,708 Containers (TEUs), (3,038 TEUs imports and 670 TEUs exports) was handled. Container ships MSC Chicago and Newark sailed out to sea during last 24 hours. Two ships, CMA CGM Latour and E-Tracer carrying Containers and 50,569 tonnes Coal are expected to take berths at QICT and PQEPT respectively on Wednesday. While LPG carrier Gaschem Antarctic is due to arrive at PQ on same day, and M.V Beks Cenk and M.T Wilprides scheduled to load/offload Cement and LNG are due to arrive at PQ on Thursday. –CB Report

NEW YORK

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t the Port of Los Angeles’s TraPac terminal, a series of massive cranes effortlessly hoist a steady stream of brightly-colored container boxes some weighing up to Rive the decks of newly-arrived container ships, depositing them dockside. From here, the robots take over. Automated cargo-haulers towering four-stories high glide among the waiting boxes, straddling and lifting them before wheeling them to the nearby “stacks.” Here the boxes are passed off to another massive robot an automated stacking cranethat arranges them into meticulous stacks. When it comes time for a speciRic box to continue its journey inland, those same robotic cranes will Rind it and load it onto a waiting truck no human operator necessary. TraPac ter-

minal along with a terminal at the nearby Port of Long Beach is among the Rirst U.S. ports experimenting with robots, artiRicial intelligence, and other digital tools to choreograph the complicated dance that keeps goods Rlowing into and out of major U.S. ports. The technology though not without its critics is widely seen as

the most efRicient way for seaports to cope with rising global shipping trafRic and massive new ships that haul more and more containers. By digitizing and automating activities once handled by human crane operators and cargo haulers, seaports can reduce the amount of time ships sit in port and otherwise boost port pro-

ductivity by up to 30% by some estimates. The automated facilities at the ports of Los Angeles and Long Beach two of the nation’s busiest are important proving grounds for technologies that have Rirmly taken root in European and Asian seaports but remains a relative rarity in the U.S. Only four U.S. seaport terminals currently use the technology. The other two, in Virginia and New Jersey, were the Rirst in the U.S. to implement dockside automation. But while some of the world’s largest container ships make calls at East Coast docks, they rarely unload all of their cargo at a single port as they do on the West Coast. That means West Coast shipping terminals are likely to automate faster than their East Coast counterparts, placing the ports of Los Angeles and Long Beach at the front of a wave of automation needed to bring U.S. shipping logistics up to speed.

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NAB arrests Balochistan MPA on corruption charges QUETTA: The National Accountability Bureau’s (NAB) Balochistan chapter arrested a former food minister and sitting MPA, Mir Izhar Hussain Khosa, on corruption charges in the food department. “NAB has arrested Mr Khosa for his alleged involvement in corruption of millions of rupees,” a spokesman for the bureau said. He said the former food minister ignored the department’s recommendations and appointed a Grade 6 employee as chief of the Provincial Reserve Centre (PRC), located on the Sariab Road in Quetta.

Friday February 9, 2018

Business

Maryam, Safdar move iHc against decision ISLAMABAD

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ML-N leaders Maryam Nawaz, and Capt (retd) Muhammad Safdar moved Islamabad High Court (IHC) challenging Accountability Court’s decision dated February 2. The accountability court on February 2 allowed National Accountability Bureau (NAB) to record statements of two witnesses of prosecution via video link at the Pakistan High Commission in London in the supplementary reference against Sharif family regarding AvenRield Apartments. The petitioner through their

industrialists oppose minimum wage KARACHI

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counsel Muhammad Amjad Pervaiz Riled the petition in the registrar ofRice of IHC. Amjad Pervaiz took the stance that in a criminal trial the attendance of the witnesses before a court is necessary unless the same was dispensed with subject to the

cabinet discusses increasing credit limit for farmers

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eading industrial associations of Sindh have said that the provincial government will damage the interests of industries if it increases minimum wage to Rs25,000 per month. They said the government needed to reduce the cost of production instead of increasing it by taking such measures, according to a press release. Chairpersons and oﬃcebearers of seven industrial town associations of Karachi held a joint meeting to discuss draft of the labour policy (a framework of industrial relations.

conditions mentioned in Sectio503 Cr. P.C. He pleaded that in the instant case the reasons stated as excuse to attend the court were imaginary and not supported by any material. As per the declaration attached with the expert report, the

witness Robert M Radley, the Principal at the Radley Forensic Document Laboratory, declared that “ he may attend the court for cross examination and he had not made his attendance conditional, he added. Mr. Pervaiz alleged that impugned order was also “violative of fundamental right of access to justice, treatment accordance with law, due process and fair trial guaranteed vid Article 10 (A) of the constitution, to my clients.” The counsel requested the court to declare impugned order dated February, 2 as illegal, without lawful authority and the same be set aside. In alternative, the order be modiRied with directions for adequate representation of the petitioners during examination of witnesses at the High Commission of London.

ISLAMABAD

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espite its signiRicant role in the growth of Pakistan’s economy, the agriculture sector has never been the priority of successive governments and has failed to win enhancement in loans. During discussions in a cabinet meeting held on January 16, it was revealed that the Produce Index Unit (PIU) – a measure of farm productivity against which farmers are given loans – had been Rixed at

Rs4,000 in 1973 and since then it had not been increased. An increase in the unit will allow farmers to get their credit limit enhanced. The current government, however, had announced in its 2017-18 budget that it would increase the credit limit. It was observed that taking the unit to just Rs5,000 after several decades would be tantamount to discrimination against the agrarian economy. The agriculture sector contributes 19.8% to the gross domestic product (GDP) – the size of national economy – and it remains, by far, the largest

employer, absorbing 42.3% of the country’s labour force. It was proposed that instead of applying PIU, the market rate or deputy collector rate should be adopted as a criterion for granting loans to the agriculture sector. But it is a complicated issue, which needs to be examined in depth. The cabinet constituted an inter-ministerial committee comprising Privatisation Minister Daniyal Aziz, Power Minister Sardar Awais Ahmed Khan Leghari, Water Resources Minister Syed Javed Ali Shah and Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan.

nAB arrests Modarba scam absconder ISLAMABAD

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he National Accountability Bureau (NAB), Rawalpindi has arrested a fugitive wanted for cheating public in the name of Islamic investments through a fake Modarba. The Accountability Court had declared Uzair Shah a proclaimed offender in the Rs270 million Modarba scam. NAB produced Uzair Shah before Accountability Court in Islamabad and got his nine-day physical remand to interrogate him. He was wanted along with Riaz Khan and others for charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment, said a NAB statement. So far 113 victims of the scam have approached this bureau and have lodged a cumulative claim of approximately Rs269.61 million, the statement said. It was also revealed during the course of investigation that the accused persons after receiving the investment from general public set up the business on name of Modarba and assured the affectees of very high profit but they failed to run the said businesses and therefore deprived the investors of their hard earned savings.

ADB to continue supporting climate smart growth ISLAMABAD

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he Asian Development Bank (ADB) said that it remained committed to working with Government of Pakistan and its development partners, including through China-Pakistan Economic Corridor (CPEC) projects, to promote climate-smart growth and increase energy access.

Clarifying media reports published in some Pakistan-based media regarding an evaluation approach paper on the energy sector made available on the ADB website, the ADB said “The decision of ADB’s Independent Evaluation Department (IED) to study Pakistan’s energy sector demonstrates the importance of power sector investments that encourage growth and help the country meet its commitments to the Paris climate agree-

ment.” A statement issued by ADB further said “While the IED study is still underway, we look forward to its recommendations on how ADB

can best work with Pakistan on holistic energy solutions that address generation, transmission, and distribution, as well as governance.” These efforts can help solve Pakistan’s energy crisis, shift the country towards a cleaner energy mix and low carbon growth, reduce its reliance on imported oil, and introduce new technologies and efRiciencies that meet ADB’s stringent social and environmental safeguards. In the limited instances where

ADB supports coal-Rired power generation, the Bank undertake a detailed study of a country’s power situation and aims to introduce technologies that are more efRicient and produce fewer CO2 emissions than conventional coal plants. Going forward, ADB will continue to work with Pakistan to improve the governance of the energy sector, increase energy supply, and increasingly introduce renewable energy power generation to the country.

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U.S oil exports pour into markets worldwide WASHING TON: U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo. The repeal has unleashed a ﬂood of U.S. shale oil, undercutting global crude prices, eroding the clout of the Organization of Petroleum Exporting Countries (OPEC) and seizing market share from many of its member countries. In 2005, before the shale revolution, the United States had net imports of 12.5 million barrels per day (bpd) of crude and fuels – compared to just 4 million bpd today. U.S. producers are making new customers out of some of the world’s biggest oil-importing nations in Asia and Europe, posing a serious competitive threat to the only other countries that produce as much crude: Saudi Arabia and Russia. At home, the export boom has ﬁlled pipelines and sparked a surge of investment in new shipping infrastructure on the Gulf Coast.

egypt keen to promote with pakistan – envoy

Friday February 9, 2018

Chambers

Lcci establishes excise & Taxation facilitation center

ISLAMABAD

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hmed Fadel Yakoub, Ambassador of Egypt to Pakistan said that his country was keen to promote trade relations with Pakistan as both countries have good potential to do trade in many items with each other. He said given the size of economies of both countries, bilateral trade of around $200 million between Egypt and Pakistan was not reflective of their actual potential and serious eﬀorts from both sides were needed to improve trade volume. He said this while talking to a delegation of Islamabad Chamber of Commerce & Industry that called on him led by its President Sheikh Amir Waheed. Ahmed Fadel

Yakoub said that Egyptian investors considered Pakistan’s construction sector a promising area for investment. He said an Egyptian investor has already invested $2 billion in a real estate project in Islamabad while more were looking for partners in Pakistan for investment and joint ventures. He said that China-Pakistan Economic Corridor would have positive implications for Egypt as it would lead to easy movement in Suez Canal. He said tourism was another potential area of cooperation between Egypt and Pakistan. He said that Asia was emerging as a big market and Pakistan was an important country for Egypt to reap business and economic benefits from this region. He said Pakistan and Egypt have great prospects for developing cooperation in many fields and establishing direct contacts between the entrepreneurs of both countries was way forward to realize these objectives.

LAHORE

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he Lahore Chamber of Commerce & Industry has taken another giant leap to facilitate its members by establishing Excise & Taxation Facilitation Center at its premises. Now the LCCI members would get all Excise & Taxation facilities within the premises of Lahore Chamber of Commerce & Industry. The LCCI President Malik Tahir Javaid and Secretary Excise & Taxation Balal Ahmed jointly inaugurated the Facilitation Center while Senior Vice President Khawaja Khawar Rashid, Vice President Zeshan Khalil and Executive Committee Members were present on the occasion. Secretary E & T Balal Ahmed said that Excise & Taxation related various facilities would be available at the facilitation center for the businessmen. He said that it is a great facility that must be availed by the business community. He said that such initiatives are a must to promote tax culture and for trust building between public and private sectors.

Malik Tahir Javaid said that Excise & Taxation Facilitation Center is a great facility for the business community of Lahore. He said that this center would provide the facilities of collection of provincial taxes/fees, motor vehicle registration, property tax and professional tax etc. He said that the Lahore Chamber of Commerce & Industry has become only chamber of the country where important institutions like SMEDA,

Federal Board of Revenue (FBR), TrafRic Police, NADRA and Excise & Taxation department have established facilitation centers for the business community. The LCCI President said that Public Private Partnership and a well-built & meaningful liaison between public and private sectors is of vital importance. The LCCI President said that said that strong public-private partnership can help surmounting the

chinese trade delegation visits fpcci LAHORE

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10-member Chinese trade delegation from Linyi trade city, led by Mr Tang Junjie, Managing Director Linyi Trade City Overseas Investment Ltd, visited the Federation of Chambers of Commerce and Industry (FPCCI) Regional OfRice Lahore. Chaudhry Irfan Yousaf, Regional Chairman and Vice President FPCCI, said China is one of important trade partners of Pakistan. Both countries are deeply associated and both countries’ mutual relations are based on solid foundations. He said there is dire need for trade balancing between the two countries. He highlighted various investment opportunities and said joint ventures with Chinese enter-

prises would facilitate vital transfer of technology as Pakistan direly need to upgrade value-addition process. Pakistan is a rapidly growing economy, Rifth largest consumer market in the world with 200 million population, while our economy is continuously Rlourishing in various sectors, which highlight the scope of businesses. The China-Pakistan Economic Corridor (CPEC) and businessfriendly investment policies have turned Pakistan into the best trade and investment destination. The CPEC projects are opening new era of long lasting economic beneRits to the region and beyond it. The project will also link China’s western regions with Gwadar Port. Tang Junjie said on the occasion that Linyi Trade City is capital of logistics and hub of exhibition warehouses, wholesale markets,

centres, retail parks and manufacturing plants. Pakistani business community should also explore the city as thousands of companies from China and rest of the world are already operating and taking their share from the city. Reply to a question abouyt equal trade opportunities, he said they were already working in Gwadar on a project where they have built an exhibition Centre of 6,000 square metres, and a warehouse of 140,000 square metres. In the said projects, Chinese and Pakistani men both are part of the workforce. Chinese delegates appreciated the role of FPCCI for economic development of the country and said economic globalisation and regional integration had provided enormous opportunities for further cooperation between China and Pakistan.

unprecedented economic challenges being faced by the country. The Lahore Chamber of Commerce and Industry would continue its untiring efforts in this regard. He said that He said that the Lahore Chamber of Commerce and Industry aims to promote trade and investment in the country through enacting upon the policies of the government and securing a business friendly environment in the country.

pak trade body vows to strengthen ties with iran he top oﬃcials of Pakistan’s Quetta Chamber of Commerce and Industry (QCCI) Thursday vowed to enhance trade ties with Iran. According to IRNA news Agency, Patron-in-chief of QCCI Ghulam Farooq Khan and President Abdul Samad praised the performance of Consulate General of Iran in Quetta for facilitating the Pakistani traders to improve trade ties with Pakistan. The trade activists said both countries were tied in eternal bonds of friendship and QCCI was encouraging all Pakistani traders who are interested in trade with Iran. Iranian Consul General Mohammad Rafiei is fully cooperating with QCCI which would also help the two countries to achieve the target of $5 billion trade volume set by the two governments, they said. –CB Report

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Peshawar Customs seizes 171 kilogram of hashish from Torkham Border PESHAWAR: The Customs authorities deputed at Torkham Border has seized 171 kilogram of hashish of fine quality from a truck at Torkham Border. According to the details, the truck bearing registration number C- 9643 Nangarhar was intercepted by customs authorities for routine checkup. Upon checking customs team recovered fine quality of hashish which were hidden in secret part of the truck upon which the driver Salih Khan was arrested and a case was filed against him for smuggling of narcotics into Pakistan.

Friday, February 9, 2018

CUSTOMS BULLETIN

customs Multan goes surplus with collection of rs1384 million MULTAN iMrAn ALi

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he Model Customs Collectorate Multan has exceeded the allocated revenue collection target of January 2017-18. The Multan Customs collected the revenue of Rs3505.558million against the assigned revenue collection target of Rs2109.03million during January 2017-18. So the total gain or proRit is Rs1384million. The Multan Customs was earmarked Rs2109.03million revenue collection target of customs duty, sales taxes, federal excise duty (FED) and withholding tax (WHT) for the whole of January. The Model Customs Collectorate Multan has generated the customs duty collection of Rs1054.150million against the allocated collection target of Rs633.36million for the period of January. So Multan Customs posted 66 % growth in the revenue collection in January. It got Rs555.581million under the head of Customs Duty during corresponding period of January 2016-17. The Model Customs Collectorate Multan has generated Rs2417.365million in terms of sales tax against the rev-

enue target of Rs1449.91million for the period of January and collectorate received Rs967.455million surplus sales taxes during January due to its active part in the clearance of import shipments at the Multan Dry Port. Increase in the prices of High Speed Diesel (HSD) in the in-

ternational market has also boosted the revenue generation of Multan Collectorate during January. The Multan Customs was able to collect sales tax revenue of Rs1286.352million in the previous Fiscal Year 201617. The Multan Customs has earned Rs7.649million under the head of

Federal Excise Duty in January along with the revenue collection of Rs8.06million so the collectorate has successfully accomplished target of Federal Excise Duty during January. The collectorate was able to receive Federal Excise Duty of Rs7.395million in the corresponding period of

2016-17. The Multan Customs Collectorate has collected the Income tax of Rs25.736million against the earmarked target of Rs17.70million during January and it got the revenue collection of Rs16.544million during the same period of previous economic year.

pHc stays recovery of Sales Tax from ghee & Steel Mills of fATA & pATA PESHAWAR

irfAn BAHADur

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he Federal Board of Revenue earlier made an amendment in the Finance Act which made it mandatory to recover taxes from the importers of the FATA and PATA. The importers of the Federally Administrative Tribal Areas and Provincial Administrative Tribal Areas

challenged it in the Peshawar High Court. A Division Bench, comprising of Justice Ikram Ullah and Justice Ghazanfar, on Tuesday issued a stay order against the recovery of Sales Tax from the Ghee and Steel Mills situated at the FATA and PATA at the import stage on account of Section 3 (1) amended vide Finance Act 2017. Previously by virtue of the amendment, the FBR started claiming the Sales Tax on all the imports notwithstanding their destination anywhere in Pakistan. The bench was told that since the Sales Tax Act 1990 was not

extended to the FATA and PATA therefore its amendments are also not applicable to the importers hailing from the FATA and PATA.

The importers said our region was exempted from tax and now the FBR want us to pay tax for the exports we made or imports we

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send to the other regions. It is pertinent to mention here that the Government of Pakistan has given exemption of duties to manufacture goods at factories situated in the FATA who, on conciliation with political administration, pay the manufacturers the required amount. Now with the amendment in the Finance Act, the FBR made it mandatory to pay duty on export of manufactured goods here in the Pakistan and also duty was made compulsory for import of manufactured goods and raw materials to Pakistan.