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Vol 1 Issue No. 280

Karachi, Fri January 22, 2016

KARACHI

AFTAB CHANNA

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he Federal Board of Revenue (FBR) has sought proposals from all the Collectorates of Customs for the budget 2016-17. The proposals should be submitted latest

by January 25, 2015 that the same could be forwarded to the Ministry of Finance.

Moreover, the Customs collectorates have also been

Price Rs. 14.00

advised to cover areas i.e. changes in customs tariff, rules/procedures and Customs Act, 1969. According to FBR letter, prior forwarding the proposals customs tariff rates/laws should carefully be studied and consulted. Meanwhile, The Federal Board of Revenue (FBR) has directed all the Collectorates of Customs to ensure counter-checking of each/every certiMicate to be produced by the importer/clearing agent claiming free/concessionary rate of duties/taxes, it is learnt.

Customs Intelligence seizes 138 LEDs, cloths, hardware items

Customs frees 5 precious falcons at National Kheer Thar Park

Shahbaz lauds Pak-China friendship at business conference

Multan Customs earns Rs 4.5m through auction of vehicles, goods

Pak Embassy mulls to set up display centre to promote trade with Nepal

Customs Intelligence on Wednesday seized contraband LED TVs, cloth | See pAge 02 |

Customs Preventive freed five falcons of precious speciman in Kheer-Thar | See pAge 03 |

A 100-member Chinese delegation has attended Pakistan-China Business | See pAge 04 |

The Model of Customs Collectorate has generated Rs 4.55m through the auction | See pAge 12 |

Pakistan and Nepal have good potential to promote bilateral trade | See pAge 09 |

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Transporters threaten of countrywide strike from Feb 4 Friday, January 22, 2016

KARACHI: The United Transporters Goods Association (UTGA) have threatened the government to accept its demand otherwise they would go for countrywide strike. The UTGA delegation put forward seven demands before the government and demanded for its acceptance immediately. The UTGA demanded the government to allot 500-acre land for truck stand at Northern By-pass, to stop Afghan Transit Trade (ATT) vehicles intervention in local market of transportation, to open Mai Kolachi Road for heavy vehicles, otherwise to construct Southern By-pass, to expedite the pace of development works at Hawks Bay Truck Stand related to sewerage system, removal of encroachments around it and construction of roads.

National

Customs intelligence seizes 138 LeDs, cloth, hardware items

Appraisement west to start auction of leftover, rejected lots KARACHI

AFTAB CHANNA

LAHORE

m HAYAT

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he Customs Intelligence and Investigation on Wednesday seized contraband LED TVs, cloth and hardware items worth Rs 5.6 million, ofMicial sources told Customs Today. The sources said that the non-customs paid goods were loaded on a bus and were owned by a smuggler Mehran Khan.

They said that the Customs Intelligence and Anti-Smuggling Squad, following information received through Director Imran Saud, intercepted the bus in Lahore, but the driver Mled. However, he was held near Pindi Bhattian.

The said bus was held fourth times in the past and three FIRs are already registered against it. The bus was released on bank guarantee every time.

The customs authorities have arrested two suspects involved in the illegal activity.

Meanwhile, The Faisalabad Customs Intelligence and Investigation team has successfully seized a nonduty paid Nissan truck. The market value of seized vehicle is Rs 4,500,000/-. Sources told Customs Today that Saud Imran, director Customs Intelligence and Investigation Faisalabad, received credible information regarding non-duty paid vehicles plying on the road. He

he Collectorate of Customs Appraisement West has announced the schedule for leftover and rejected lots at West Wharf from January 21, 2016 onwards. The auctionable goods included: second hand clothing, household item, trouser HHR etc, mixed crockery 50% ceramic 50% porceline, consisting of paltes, mugs, tea cups, tea pots, etc, mixed used clothing in Jumbo Bales, mixed clothing in Jumbo Bales, used shoes packed in PP bags, second hand clothing HHR, pants, shirts, blankets etc, used toys ride on car, 150CC motorcycle kits in CKD condition in cartons and parts, head phone brand Phillips, used ATM machine for master card brand Phillips, Kirrus etc, used refrigerator, one sofa and bed made of wood, juicer blander with drynice multi system, used carpet assorted size, electric kettle, used second hand clothing, used clothing, i.e. men wears, ladies wear, children wear, household items, travelling rugs, blankets, drapes, bed cover, socks, jackets, polyester kinitted dyed polar flece fabrics in rolls assorted color, used second hand clothing, sweater.

constituted a customs team comprising Muhammad Tahir Iqbal (SIO) Muhammad Mansoor and Muhammad Farzand Ali ( IO ) Mukhtar Ahmed and Muhammad

Iqbal (sepoys). The Customs team intercepted the smuggled vehicle near Gutwala Park Sheikhupura Road Faisalabad and asked accused person who is identiMied as Muham-

mad Azam son of Abdul Hameed to produce legal documents regarding possession of the truck, but the driver of the truck failed to produce any legal documents.

Customs foils attempt to smuggle heroin to Saudi Arabia

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ISLAMABAD

m FAiZAN

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he Customs authorities deployed at Benazir Bhutto International Airport Islamabad have foiled an attempt to smuggle half kilogram heroin to Saudi Arabia and arrested accused Nazar Hussain son of Abdullah.

Sources told Customs Today that Deputy Collector Customs Shahid Jan received secret information that

an attempt will be made to smuggle heroin to Saudi Arabia via Saudi Airline Flight No. EK-615 which was bound for Madinah. He immediately constituted a customs team to check all the passengers thoroughly. During the checking process, the customs authorities recovered half kilogram of heroin from the luggage of Nazar Hussain who belongs to Chiniot. The heroin was hidden in the secret parts of his luggage. Customs authorities arrested the passenger and produced him before the cus-

toms court which rejected his bail plea and sent him to jail for further interrogations.

Meanwhile, Customs authorities deputed at Benazir Bhutto International Airport foiled bid to smuggle 912 smart phones abroad. The market value of seized smart phones are Rs 20 million. Sources told Customs Today that Deputy Collector Shahid Jan received credible information regarding a smuggling attempt through Etihad Airways which was coming from Abu Dhabi.

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FBR raids KIPS College for alleged tax evasion LAHORE: The Federal Board of Revenue (FBR) has raided KIPS College Johar Town and sealed all record of the college, including computers and important files.

Sources told Customs Today that a team of Inland Revenue Lahore raided Johar Town Campus of the college and sealed the record, including countrywide branches of the college. Sources said that the raid was conducted on intelligence information that college is earning millions of rupees every month but avoiding to pay income tax.

Sources also told that FBR has sent many notices to KIPS College for payment of income tax but college did not respond in a proper way.

FBr setting up Large Taxpayers unit-ii in karachi

Friday January 22, 2016

National

Customs frees 5 precious falcons at National kheer Thar park

KARACHI

AFTAB CHANNA

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he Federal Board of Revenue (FBR) is going to establish Large Taxpayers Unit LTU-II in Karachi that aims at broadening the tax net and overall collection.

In this regard, the Second Secretary (SSM), Yousaf Butt has issued a letter to all the officials concerned, informing them about the consent of the president of Pakistan. “I am directed to refer to the above subject and to convey the sanction of the president of the Islamic Republic of Pakistan to the creation of Large Taxpayers Unit II Karachi with immediate effect,” the letter says.

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FST adjourns hearing of plea by ex-registrar ISLAMABAD

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he Federal Service Tribunal (FST) has adjourned the hearing of a petition filed by its former Deputy Registrar, Saiful Islam, who was dismissed for minor disciplinary dispute.

A division bench of the FST comprising Arshad Bhatti and Muhammad Javed Kasi heard the case of the former deputy registrar who was dismissed in 2009 for not obeying the orders of the then chairman, Tanveer Bashir Ansari. The bench would resume the hearing of the case on January 25. It is pertinent to mention that this case once also heard in Supreme Court of Pakistan, which had remanded the case back to the Federal Service Tribunal in 2015. The case has to be decided by the FST.

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KARACHI

S r kHAN

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he team of Customs Preventive freed Mive falcons of precious speciman in KheerThar National Park near Hub River in Balochistan.

The Deputy Collector Ali Turabi along with the staff of Wild Life Department and Hubara Foundation freed the falcons in air.

Speaking at the occasion, deputy collector said that the Customs Drug Enforcement Cell (DEC) staff seized those precious species of falcons at the arrival lounge of Jinnah International Airport-Karachi, last week.

The deputy collector further said that a passenger namely Lal Badshah took those falcons with out legal documents, adding that the Customs staff at Jinnah airport arrested the passenger and took him into custody. Turabi further said that the DEC staffers have enjoyed full cooperation of their top ofMicers inclduing Chief Collector-Enforcement Zahid Khokhar, Collector Preventive S M Tariq Huda and Additional Collector Dr Tahir Qureshi. The Wild Life OfMicer Khalid Burfat informed the media that the falcons belong to two different precious species including one is belonged to “paragree” while other four are belogned “skicer”. Meanwhile, The Collector of Customs Preventive Syed Muhammad Tariq Huda has revealed that the Pakistan Customs has requested the Federal Interior Ministry to notify Cus-

toms as the main stream “Law Enforcing Agency”, as all over the world the Customs is one of the main agency which enforcing the law at coastline of the country. Talking to Customs Today exclusively, the Collector Preventive S M Tariq Huda said that the Pakistan Customs is right now enforcing the law and taking actions against smuggling cartels at West and South borders of the city. Responding to a query, the Collector said that the Pakistan Customs is currently facing shortage

Deputy collector further said that a passenger namely Lal Badshah took those falcons with out legal documents, adding that the Customs staff at Jinnah airport arrested the passenger and took him into custody.

LHC seeks govt reply on appointment of ATir chief LAHORE

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ahore high Court (LHC) has issued notice to federal government and seek reply on February 25 in case of appointment of Chairman Appellate Tribunal of Inland Revenue Javaid Iqbal.

According to the details, Justice

Mansoor Ali Shah heard the case which is filed by the secretary general of Pakistan Tax Bar Associa-

tion Abdul Qadoos Mughal.

The counsel of appellant Muhammad Ashraf Advocate argued before the court that the criteria for appointment of Chairman Appellate Tribunal Inland Revenue is that he/she must have ten years experience as advocate.

He added that federal government appointed Javiad Iqbal as Chairman Appellate Tribunal Inland Revenue against the merit. He does not fullfil the required criteria for the above said post.

of man-power as well as the resources; adding that one of the main assets in the shape of anti-smuggling boat namely “Barbarossa” is already being non-operational for many years. However; the federal government will handing over four new latest equipped anti-smuggling boats to the Pakistan Customs in the next six months or so and the process of procurement of those ships and other latest equipments have been started.

Customs Tribunal to hear 3 cases he Customs Appellate Tribunal Bench-II today will hear three customs cases filed against Islamabad Customs Adjudication collector.

A single bench, comprising Technical Member Muhammad Nasir Khan would hear all three cases filed by same company, i.e. M/s Amson Vaccines Private Limited, Islamabad.

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PHA starts construction work of Shahbaz Sharif Park Friday, January 22, 2016

Business

RAWALPINDI: The construction work of Shahbaz Sharif Sports Complex and Family Park has started. The Parks and Horticulture Authority (PHA) initiated designing of the project on the land of Civil Aviation. Building department has been handed over construction work of central gate, boundary wall, parking site and levelling of land in this project while PHA has been assigned the work for construction of cricket ground, pavilion, volley ball, basket ball and tennis court along with a modern family park. PHA Director General (DG) Abid Malik while making confirmation with regard to the construction of family park said that the building department would complete its share of work and then PHA will initiate its work.

pSX witness rollercoaster day, closes almost flat at 30752 points KARACHI

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tarted with huge gain of 254 points on Thursday, the Pakistan Stock Exchange (PSX) again lost all the points and closed almost Mlat. The PSX lost 14.21 points to drop to 30751.80 points level at closing.

The stocks recorded the highest trading level of 31029.17 points and lowest level of 30705.53 points,

piA’s revenues drop to rs 99.52 billion ISLAMABAD

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espite inclusion of 16 aircrafts in its fleet, the Pakistan International Airlines’ revenue decreased. According to the sources, the overall performance of national flag carrier was not satisfactory as its revenue decreased continuously for the last seven years and its loss was increasing. The official documents reveal that the PIA generated the revenue of Rs 94.56 billion in 2009, Rs107.53 billion in 2010, Rs116.55 billion in 2011, Rs112.13 billion in 2012.

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with the volume of 13.58 million shares, having over Rs7.68 billion

value. As many as 321 companies were active; of which 158 advanced,

137 declined and 26 remained unchanged.

The three top traded companies were TRG Pak Ltd with a volume of 14,264,500 and price per share of 25.49 (-1.34), K-Electric Ltd with a volume 12,401,500 of price per share of 6.99 (-0.03), and MapleLeafCement with a volume 6,776,000 of price per share of 82.87 (0.64).

The top three gainers were Siemens Pak.XD with price per share 857.82 (39.82), Island Textile with price per share of 723 (33) and Murree Brewery price per share of 853.12 (29.22).

Shahbaz lauds pak-China friendship at business conference LAHORE

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100-member Chinese delegation has attended PakistanChina Business Opportunities Conference, jointly organised by the Lahore Chamber of Commerce & Industry (LCCI) and Punjab Board of Investment & Trader (PBIT).

Chief Minister Shahbaz Sharif was the chief guest on the occasion, while LCCI President Sheikh Muhammad Arshad, Senior Vice

President Almas Hyder, Vice President Nasir Saeed, Consul General of China in Lahore Yu Boren, Pak-China Friendship Association Chairman Sha Zukang, Provincial Minister Ayesha Ghous Pasha, PBIT Chairman Abdul Basit, former LCCI presidents, senior vice presidents, vice presidents and executive committee members were also present in the conference.

Speaking at the occasion, Chief Minister Shahbaz Sharif said that China is the most reliable friend, has always stood with Pakistan and helped it in all respects. He said that

China is a very important partner in Pakistan economic development and bilateral trade. “The involvement of Chinese enterprises both in term of technical and Minancial assistance in several development projects is reMlective of our cordial relations based on mutual trust and sincerity,” he added.

Sharif termed the China-Pakistan Economic Corridor as an energy and infrastructure program with the investment of $46b in Pakistan. He said that $ 46 billion is the biggest investment ever made by China in any foreign country.

SNgpL witnessed rs 3.96 billion loss in 2014 KARACHI

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he Sui Northern Gas Pipelines Limited (SNGPL) has reported a net loss of Rs3.96 billion for the year ended June 30, 2014.

However, gas development surcharge helped the utility firm to cut its losses by 53 percent from Rs9.74 billion in 2013, SNGPL said in a bourse filing. The loss per share remained at Rs6.25 in 2014 as compared to Rs15.37 in 2013.

The firm reported additional revenue of Rs14.52 billion on account of gas development surcharge in the year under review. In 2013, the company reported an outflow of Rs18.40 billion on the same head.

A significant decline in other income by 37 percent to Rs9.75 billion from Rs15.54 billion gave a major hit to the bottom line, an analyst said. The company’s net revenue (gas sales) fell eight percent to Rs206.23 billion from Rs224.06 billion in the last year.

Its operating loss was trimmed 23-fold to Rs388.70 million from Rs9.13 billion. SNGPL’s selling cost surged to Rs6.97 billion in 2014 from Rs5.93 billion in 2013.

However, its finance cost fell to Rs5 billion from Rs6.10 billion.

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pakistan borrowed $1.42b in 3 months: Dar ISLAMABAD

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akistan borrowed a staggering $1.42 billion from foreign countries and financial institutions during the past three months.

During the question hour in the Senate on Wednesday, Finance Minister Ishaq Dar provided a written response to Senator Sherry

Rehman who had asked about the debt raised in the international bond market and the loans taken to shore up the economy.

Pakistan to face balance of payment crisis in 2016, says AKD Dar said that Pakistan had received $500.20 million from the International Monetary Fund (IMF) during the past three months as he provided details of funds received.

Minister Zahid Hamid, who was responding to a question on the

rates at which the loans had been taken, said that during the incumbent government’s tenure, the debt-to-GDP ratio had dropped to 59.1 per cent in October 2015 from a high of 64 per cent in 2013.

Later on, replying to a question

by Senator Tahir Mashadi about foreign reserves, Hamid stated that there were also loans which came prior to the loans signed during the last three months that added up to $2.568 billion.

Minister for Planning Ahsan Iqbal told the upper house of Parliament that after consultations with all stakeholders, the western route of the China-Pakistan Economic Corridor (CPEC) had been prioritised and that the government was trying to complete the projects ahead of schedule.

Asked about reservations of Khyber-Pakhtunkhwa government, he said that the premier had taken national provincial leaderships on

board. “Pakistan has an energy portfolio which is not limited to only CPEC but extends further,” Iqbal said as he responded to a query from Senator Humayun Khan Mandokhel. The minister added that an investment worth $4.5 billion had been made as part of the first phase of the Dasu Dam project while land had been acquired for the Diamer-Bhasha dam project.

Published in The Express Tribune, January 21st, 2016.

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ollector Customs Peshawar Qurban Ali issued directives to shift Torkham Customs from One Customs to WeBOC. Sources told Customs Toady that initially raw cotton and mineral coal will be cleared through WeBOC. He said that after this more imports will be added in WeBOC system. He hoped that after launching of WeBOC system marginable decrease will be witnessed in mis-declaration and underinvoicing.

Meanwhile, The Model Custom Collectorate Peshawar has collected Rs 1,511.31 million under the head of duty/taxes during December of current Miscal year 2015-16.

According to the ofMicial Migures available to Customs Today, the Peshawar Customs collected Rs 634.09 million in the wake of custom duty and showed growth to the tune of Rs 128.06 million, as it had generated Rs 506.03 million during same period in 2014. In term of sales tax on imported items, it collected Rs 389.21 million against Rs 469.62 million, which was collected last year. The customs generated Rs 164.88 million in wake of sales tax levied as federal excise duty on the import of palm oil but dur-

ing December of last year, it had collected Rs 208.36 million, which was Rs 43.48 million more than the current collections. Similarly, in term of sales tax levied as value addition on commercial importers, the collection is standing at Rs 61.14 million against the previous year collection of Rs 58.15 million with total difference of Rs 2.99 million. The collectorate has collected federal excise duty collection to the tune of Rs 17.57 million, while it had generated Rs 19.61 million during corresponding period of last year. Meanwhile, Collector Customs Peshawar Qurban Ali Khan has said the volume of duty collection on transportation of goods between Pakistan and Afghanistan is much more than the Migures collected in year 2014 during the last six months from July 1 to December 31, 2015.

Talking to the media persons, Collector Customs Peshawar informed that in the year 2014, revenue collection from trade via Torkham border was Rs 2,426 million. While during the last six months of 2015, it shoots up to Rs 3528 million, showing an increase of Rs 1102 million. The Cus-

tom Department, Qurban Ali continued has embarked upon a policy of facilitating business community of the country by providing them maximum facilities besides generating revenue for the ofMicial kitty.

He informed that the whole custom department has been computerized to expedite processing of documentations relating to clearance of goods for imports and exports.

m l C u s to a r e d o The m te peshaw to r a Co l l e c o l l e c te d r s e r has c illion und xes .31 m 1,511 d of dut y/ta f a o the he December during fiscal year t c u r re n 5 - 1 6 .

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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

State of economy

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n its report on the country’s economy, the State Bank has pointed out notable improvements in the key macroeconomic indicators during the first quarter of the current financial year. However, it also called for requisite steps to ensure sustainability of gains. The report says that economic activity seems to be gearing up as improvements are visible from the changes in key macroeconomic indicators during the first quarter due to noticeable increase in the large-scale manufacturing over the last year.

The monetary easing initiated during the previous financial year continued during the first quarter of the current financial year because of the comfort from visible improvement in macroeconomic environment. The bank says that improvement in security conditions, betterment in energy management and persistently low global commodity prices will further improve economic performance.

Besides, the current account deficit has narrowed due to higher financial inflows, the foreign exchange reserves have recorded all time high and inflation remained on low trajectory. The report says that tax collections could not mark the required growth, therefore, there is a need to gear up eorts to enforce tax laws and widen tax net. To achieve this end, the Federal Board of Revenue has shown growth in tax collections by 16.8 percent in the first half of the current fiscal year. The report holds dwindling exports responsible for overall performance of the economy as exports have recorded a decline year-on-year for the third quarter in a row. There is a need to encourage foreign direct investment for sustainability of the external sector though direct investment from China could be increased due to progress on various infrastructure projects under the CPEC. The country also needs direct foreign investment in exportable sector. The report says that it is encouraging that the IMF programme has been completed successfully and several important reforms have been introduced, like independent statutory Monetary Policy Committee and Credit Bureaus Act. The slow process of privatization and persistent line losses in the power sector are a challenge for the government. As a matter of fact, financial discipline is very important for stability of the economy. Concentrating only on witch-hunt of the business community to achieve tax target will further push the economy into chaos as it is going on in the current scenario.

revenue loss in mismanagement A

LAHORE

Dr AFTAB AFZAL

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study paper of the International Monetary Fund reveals startling facts about the level of mismanagement in Pakistan which cost the nation Rs 3.3 trillion a year. The amount is higher than the annual tax collections and vindicates the government of its tax amnesty scheme. The current tax-to-GDP ratio in the country is 11.5 percent against tax capacity of 22.3 percent with regard to the gross domestic product. It should be noted that the tax-to-GDP ratio in Pakistan is the lowest in the region. The report of the donor agency points

out narrow tax base, tax concessions, exemptions and low tax compliance as few other reasons for the loss of revenue. As a result, the government fills the gap of less tax collections by levying additional taxes, putting the survival of the medium and small industrial units at stake.

According to the agency, the tax revenues peaked 12.4 percent during the Benazir government in 1996 and emphasizes for the enhancement of the tax base rather than enhancement of the current tax ratio. Contrary to the IMF notion, a World Bank report suggests that Pakistan has the higher tax rates than any other developing country. The PML-N government has imposed Rs 940 billion additional taxes

since it came to power in June 2013 and the recent imposition of Rs 40 billion taxes is a classic example of the minibudget the government opted for under the pressure of the IMF. The government has failed to understand that more taxes means more pressure on the business and economy and it will not only adversely affect the mobilization of the money but also result in concentration of wealth in few hands. Common man is already feeling the heat of indirect taxes in the country.

If the government wants to enhance its revenues, it has to introduce structural reforms and establish an independent body free of political influence.

No doubt Pakistan’s economy is

resilient and it survives every shock and after sock, but what need to do is to establish independent institutions.

Unrealistic tax targets open the floodgates of corruption and no one dares plug the loopholes.

The government will have to start economic reforms programme from zero as basic structural change in the administrative set up is indispensible.

The governments after governments in Pakistan prefer to keep status quo which is the mother of all evils in this country. It is the IMF or the World Bank, unless we as a nation do not take difficult steps, the foreign donor agencies will continue to interfere in the internal affairs of the country.

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Hanoi to export fruit to Japan, Malaysia KUALA LUMPUR: The Service of Agriculture and Rural Development in Hanoi, the Malay company, Fresh farm SDN BHD and the Japanese group, Meika Shoki, signed an agreement on the 14th January on an international value chain for Canh oranges, Dien grapefruit and longans.

The Malay and Japanese partners will help the Vietnamese capital to export these fruits to Malaysia and Japan.

Meika Shoki has agreed to share their agricultural technology with Hanoi farmers, as well as supply information concerning Japanese market needs and legal formalities on fruit exports to the Service of Agriculture and Rural Development.

Businessmen asked to help empower BiSp families enazir Income Support Program (BISP) was playing an important role in poverty alleviation by providing financial support to millions of poor families in the country and business community should come forward to cooperate and support under CSR activities for economic empowerment of BISP families. This was stressed by BISP Director Coordination Syed Asif Munir during his visit to Islamabad Chamber of Commerce and Industry.

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He said BISP has identified 5.1 million families living under the poverty line and has setup their database for providing them monthly stipend of Rs.1500 under the BISP CSR program. He said businessmen could play crucial role in lessening the miseries of targeted BISP families by contributing under CSR activities in the areas of malnutrition, adult literacy and interest free loans. Speaking at the occasion, ICCI Senior Vice President Sheikh Pervez Ahmed appreciated the initiatives of BISP aimed at providing social safety net to the poor people of the country. He said businessmen have always supported the projects and activities aimed at welfare of the underprivileged segments of society and they were ready to cooperate with BISP for uplifting the living standard of poverty stricken families. He said BISP should share the database of genuine and deserving people with the trade bodies so that business people could partner with BSIP in ameliorating the lives of down-trodden people of the country.—CB Report

Friday January 22, 2016

Chambers

pak embassy mulls setting up display centre to promote trade with Nepal P

FAISALABAD

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akistan and Nepal have good potential to promote bilateral trade and Pakistan Embassy in Nepal would explore the possibility of setting up a display centre in its premises to promote country’s trade and exports with Nepal, Pakistan’s Ambassador-designate to Nepal Mazhar Javed stated this while exchanging views with business community at Islamabad Chamber of Commerce and Industry (ICCI). He said there was a need of developing better coordination between Pakistani foreign missions and domestic chambers of commerce and industry to explore new avenues of promoting Pakistan’s trade with other countries. He said many Pakistani products including pharmaceuticals, textiles, readymade garments and leather products could Mind a good market in Nepal and businessmen should accelerate efforts to fully tap Nepalese market for promoting trade.

He assured that his embassy would try to share all such information with local chambers of com-

merce as could help them in promoting trade with Nepal. He said ICCI should take a trade delegation to Nepal and his embassy would fully assist in making its visit effective and meaningful.

Speaking on the occasion, ICCI President Atif Ikram Sheikh said that the current volume of trade between Pakistan and Nepal was not encouraging and Pakistan Embassy in Nepal should identify potential markets for Pakistani products that would help in improving

trade with Nepal.

He said due to trading restrictions and tariff measures, many Pakistani products were reaching Nepal via other countries and stressed that both governments should take measures for facilitating direct trade that would result in lesser freight with shorter lead time and would be more beneMicial for both nations.

He said Nepal has huge hydropower potential which could be potential area of cooperation between both countries.

‘Taxes, absence of gas harming production’

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SIALKOT

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he growing taxes and gas loadshedding have been badly hampering the business of stainless steel, as the production of stainless steel products including pots, cutlery instruments, surgical instruments, acid tanks, dairy tanks and washing machines is getting down. The traders said that the gas load-shedding has become bad to worst and government has failed to provide any relief despite the repeated appeals of mercy made by the small traders, who have also become to close down their stainless steel products business here.

Talking to the newsmen here, All Pakistan Stainless Steel Importers’ Association Central Patron-in-Chief Haji Muhammad Anwar, President Ghulam Hussain Jujj and Vice Pres-

ident Atif Iqbal Chaudhary have expressed grave concern over this critical situation. They said that worst load-shedding has badly affected the businesses of manufacturing of the steel pots, cutlery, surgical instruments, acid tanks, dairy tanks, washing machines, air craft and sugar mills products here.

They said that this nasty situation rendering the hundreds of the daily waged labourers as jobless.

They urged the government to establish the train service between Sialkot Dry Port Trust to Gujranwala, which would be helpful to provide the maximum relief to pull the stainless steel industry out of the persisting financial crisis, which are aggregating day by day here. They said that this needed train services could also enable the importers of steel to get rid of the additional freight costs of the containers as well. They said that the

encroachments have resurfaced in the stainless steel market of Gujranwala, which are also hampering the business activities there as well. They urged the government to announce a special package of incentives for the stainless steel industry to flourish it on the modern lines as well.

Meanwhile, Punjab Revenue Authority (PRA) Chairman Dr. Raheel Ahmed Siddiqui has assured that all out sincere efforts would be made to resolve all the issues being faced by the Sialkot’s business community.

He said that the PRA would take the Sialkot based traders, industrialists and exporters into confidence, in this regard. He said that the Sialkot exporters have been playing a pivotal role in strengthening the national economy by earning foreign exchange to the tune of $2 billion annually.

Senior Vice President Sheikh Pervez Ahmed and Vice President Sheikh Abdul Waheed suggested that frequent exchange of trade delegations and establishment of display centres in both countries would further strengthen trade ties. They said Pakistan was one of the highest per capita tea consuming countries while Nepal was one of the Minest tea and coffee producers and added that more cooperation in this area could improve bilateral trade between the two countries.

China’s exports expected to drop in Jan hina’s exports in January may return to negative growth following a sporadic rise in December buoyed by seasonal factors, a Ministry of Commerce (MOC) official said on Wednesday. The country’s exports in yuan-denominated terms climbed 2.3 percent year on year in December after five months of contraction, official data showed last week. “Exports’ performance in January may be poor given the climb in December was helped by seasonal factors as exporters chose to sell more products before the year end for a better result in 2015, squeezing January’s exporting share,” MOC spokesperson Shen Danyang told a press conference. Despite the expected setback at the beginning of 2016.—CB Report

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China exports 9 containers with 140 tonnes of fresh pears to Russia Friday January 22, 2016

World

BEIJING: At the beginning of January, China exported 9 cooled containers with 140 tons of fresh pears to Russia via the Manzhouli railway.

Total product value is estimated to reach 80,000 USD. This is one of the first times that China is exported fresh fruit to Russia via controlled atmosphere containers. Chinese pears have been popular on the Russian market since the European boycott. In December 2015, 2,000 tons of pears were exported to Russia via the Port of Manzhouli. In 2015, total pear export to Russia through Manzhouli increased by 300%. Pears are now the third biggest product category, after oranges and apples.

uS Customs arrests wanted passenger WEST PALM BEACH

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S Customs and Border Protection (CBP) OfMice of Field Operations (OFO) ofMicers assigned to West Palm Beach, Florida arrested a passenger arriving from the Bahamas wanted in Mississippi for a violation of probation for forgery.U.S. Customs and Border Protection operations in Florida. Clifton Magee, 45, was Mingerprinted and his identity was conMirmed. The Riviera Beach Police Department conMirmed the warrant with extradition and took custody of the individual.

CBP conducts inspection operations and intercepts currency, weapons, prohibited agriculture products or other illicit items. On average CBP arrests 22 wanted persons a day at U.S. ports of entry nationwide. While welcoming and pro-

ukraine lifts ban on import of eu beef xports of bone-in beef and beef from all EU Member States to Ukraine are now allowed as Ukraine has recognised the EU single system of control on BSE, and the official sanitary status of EU Member States based on the BSE risk category of the World Animal Health Organisation (OIE) for imports.

This trade-facilitating measure follows closely the entry into force (1st January 2016) of the Deep and Comprehensive Free Trade Agreement between Ukraine and the EU. The European Commission is looking forward to Ukraine agreeing to the required health certificate quickly so that real trade can start soon.

The European Commission has been constantly requesting Ukraine to follow the OIE key recommendations concerning BSE and remove the associated trade barrier.—CB Report

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cessing all legitimate travelers and trade into this country, CBP ofMicers enforce a host of U.S. laws to keep terrorists and other dangerous persons such as fugitives out of our neighborhoods.

Meanwhile, U.S. Customs and Border Protection at the Minneapolis-St. Paul Internatonal Airport seized cocaine and hashish oil from the luggage of two U.S. citizens returning from Cozumel, Mexico, on January 10. A 31-year-old male and 28-year-old female attempted to conceal nine grams of cocaine and 41 grams of hashish oil in their luggage. After discovery and seizure of the narcotics, CBP turned the passengers over to local law enforcement ofMicials for prosecution.

Airlines increase the number of Mlights to tropical destinations in Mexico, Central America, and the Caribbean during winter months.

Minneapolis Area Port Director Jennifer De La O praised the CBP ofMicers for their vigilance during the busy winter travel season.

Decline in smuggled counterfeits, says Dubai Customs

DUBAI

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he smuggling of counterfeit goods has dropped by almost 58 per cent between 2014 and 2015, according to the

latest figures provided by Customs officials. In contrast to 306 seizures of intellectual propertyinfringing goods by Dubai Customs in 2014, official figures showed that only 126 seizures were made in Dubai between January and November 2015, the Dubai Customs Intellectual Property Rights (IPR) Department said. Yousuf Ozair

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Mubarak, director of IPR department at Dubai Customs, said that the counterfeit goods seized covered a wide range of products from clothes, mobile phones and accessories to cigarettes and auto spare parts. “The estimated value of seizures of counterfeit goods was Dh14.85 million in 2015 compared to 2014, which saw seizures worth more than Dh36 million,” he said.

“In the past three years between 2012 and 2014 we have recorded over 82 seizures of counterfeit electronic goods worth Dh4.7 million.” Mubarak said Dubai Customs plays a prime role in stopping the movement of fake goods and takes immediate action by destroying or recycling the seized goods and then fining the importer. After fining the importer, he said, the importer’s name gets listed in the Risk Engine at Dubai Customs to keep a close eye on his/her future shipments.

Shanghai Customs busts 21-member China retail sales rise 11.1% in Dec hina’s retail sales of consumer last year, jumping 33.3 percent year diesel smuggling gang goods performed well in De- on year to 3.88 trillion yuan. Mean-

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hanghai Customs said it had cracked down on an diesel smuggling gang that had smuggled oil products worth over 100 million yuan (US$15.2 million) since last year. The 21 members of the gang were caught in Shanghai and in the provinces of Fujian, Jiangsu and Zhejiang. Customs ofMicials said most of them were relatives.

The gang owned a 1,000-ton vessel that would collect diesel from providers on the international waters, and then transfer

the oil products into smaller carriers before smuggling them into Shanghai. All the 21 suspects were caught by the customs and maritime police on December 13 and 14, 2015. Police investigations revealed that the gang had smuggled 23,000 tons of oil products, most of which were diesel fuel that could be used in cars, boats and boilers. Police said the gang used other people’s bank cards for money transfers during the illegal business.—CB Report

cember thanks to pro-consumption policies from the government, ofMicial data showed Tuesday.

Retail sales, a key indicator of consumer spending, rose 11.1 percent year on year to 2.86 trillion yuan (436 billion U.S. dollars), according to the National Bureau of Statistics. The growth rate was still encouraging although slightly down from 11.2 percent in November.

In 2015, retail sales grew 10.7 percent from a year earlier, slower than the 12-percent increase registered in 2014. Online sales remained strong

while, China’s value-added industrial output, an important economic indicator, grew 5.9 percent year on year in December, down from the 6.2-percent growth recorded in November, ofMicial data showed on Tuesday. Year-on-year growth for 2015 was 6.1 percent, lower than the 8.3-percent growth in 2014, the National Bureau of Statistics said. Industrial output, ofMicially called value-added industrial output, is used to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan (3.05m U.S. dollars).—CB Report

Hk Customs seizes smuggled smartphones worth $2.2m

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HONG KONG

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ong Kong Customs detected a suspected case of smuggling at Lok Ma Chau Control Point and seized 891 smartphones with a total value of about $2.2 million.

Customs ofMicers intercepted an outgoing private car at Lok Ma Chau

Control Point yesterday. During inspection, ofMicers found the smartphones in the boot of the private car.

The 29-year-old male driver was arrested. Under the Import and Export Ordinance, the maximum penalty for attempting to export unmanifested cargo is a Mine of $2 million and imprisonment for seven years. Meanwhile, Asia Clean Capital Ltd (ACC), a renewable energy solutions provider,

just announced a $40 million project Minance facility from Goldman Sachs, a global investment bank. The Minancing facility will allow ACC to accelerate and expand the growth of its rooftop solar solutions nationwide, ACC said in an email statement on Friday. ACC’s leading renewable energy solutions are focused on rooftop solar projects. The company invests 100 percent of the project costs and

provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems. All electricity produced through ACC’s solar projects is then provided to clients at agreed rates lower than when purchased from the local power grid.

ACC’s project sites are typically large production facilities with electric demand from one to twenty megawatts.

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Iran eyes greater global trade post sanctions TEHRAN: With the lifting of sanctions on Iran under the nuclear deal, Iran today pitched for greater global trade and forecast average GDP growth of 8 percent over the next five years even as Indian business leaders here at WEF began exploring opportunities with the oil-rich country. “With the lifting of international economic sanctions on Iran, the country’s economy is forecast to grow by at least 5 per cent in 2016 and has the potential to average 8 per cent growth over the next five years,” Mohammad Agha Nahavandian, Chief of Staff of the Presidency of the Islamic Republic of Iran, said. Addressing a special session at the World Economic Forum Annual Meeting 2016.

port Canaveral adds container ship service new container ship service that has started at Port Canaveral is expected to expand the port’s access to South and Central America and Europe.

On Jan. 31, M/V Norderoog, a part of StreamLines N.V.’s Blue Stream weekly liner service, was scheduled to make its first call on the Cape Canaveral, Fla., port at its new Canaveral Cargo Terminal, managed and operated by GT USA. GT USA invested $100 million into facilities, infrastructure, equipment and workforce and the service provides Port Canaveral a valued trade route that includes Central America, Europe and the Caribbean.

It should strengthen Florida’s perishable import market from Central America and provide a central Florida gateway to shippers seeking lower inland transportation costs and help them move their products to market faster, according to a news release

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iron ore rises 3.7%, China port holdings to top 100m tonnes

Friday January 22, 2016

Adani ports, Special economic Zone shares surge over 6% dani Ports and Special Economic Zone shares surged over 6% on Tuesday after the company said the order by the National green Tribunal (NGT) on carrying out work for its Hazira-based port without environment clearance has not impacted its operations in the area.

The stock climbed 5.90% to settle at Rs 232.40 on BSE. Intra-day, it soared 6.63% to Rs 234. The stock was the top gainer among the 30-Sensex component. At NSE, shares of the company advanced by 6.17% to Rs 232.85.

In the process, the company’s market valuation rose by Rs 2,681.92 crore to Rs 48,128.92 crore. “There is no stay on construction/operation currently and we have been provided four weeks to comply with the directions of the order, including depositing of Rs 25 crore with the Collector, Surat,” APSEZ had said in a regulatory filing yesterday. In a judgement issued on January 8, Pune-based Western zone bench of the NGT had slapped a penalty of Rs 25 crore on Adani-Hazira Port Pvt Ltd (AHPPL) and its associate Hajira Infrastructure Pvt Ltd for carrying out work without acquiring environment clearance. The Bench had also ruled that the environment clearance (EC), granted by Ministry of Environment and Forests (MoEF), in 2013 for further development of the port at Hazira, was illegal and set it aside.—CB Report

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BEIJING

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from the Canaveral Port Authority.

Inversely, the service creates an efficient outlet for Florida shippers to export products directly to northern Europe, according to the release.

Part of the Seatrade Group, StreamLines is a diverse container line providing refrigerated and dry container service specializing in fresh produce and perishables and Port Canaveral is the service’s exclusive U. S. port of call, according the release.

The launch of the service is part of the company’s development plans and expands Port Canaveral’s relationship with StreamLines’ parent company which offers GreenSea specialized service calling monthly at Canaveral, according to the release.—CB Report

Ports & Shipping

he holdings will probably surge as low-cost supplies rise and steel mills rein in output before and during a nationwide, week-long holiday next month, according to China Merchants Futures. Both Citigroup and Australia & New Zealand Banking Group say the threshold for the stockpiles is set to be exceeded, Mlagging the risk that it’ll add to pressure for prices to drop.

“The increase will be driven by higher shipments from Australia and Brazil, especially in the Minal months of 2015, against a seasonally weak period for China demand,” Zhao Chaoyue, an analyst at China Merchants Futures, said by phone on Monday. Zhao predicted the target may be breached before the Lunar New Year break, which starts February 8. The inventories rose 1.7 per cent to 94.55 million tons last week, an eight-month high, according to data from Shanghai Steelhome Information Technology Co. Holdings which have expanded for the past four months to climb above their Mive-year average of 92.7 million tons

last topped the 100 million ton mark in March. Iron ore prices have been pummeled over the past three years as supplies from exporters including Rio Tinto Group and BHP Billiton and Brazil’s Vale expanded while China’s steel output and demand fell. Citigroup, which last week raised the possibility that iron ore may sink into the $US20s a ton, has said the port stockpiles will probably climb above 100 million tons in the Mirst half before tapering lower. “I don’t think there’s an appetite for people to hold that much inventory on a sustainable basis,” Citigroup head of Asia commodity research Ivan Szpakowski said in a January 14 interview.

TV panel shipments near 270m units worldwide

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WASHINGTON

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total of 22.73 million units of LCD TV panels were shipped in December 2015, down 0.02% from November and up 4.1% year on year. Iris Hu, WitsView assistant research manager, said that even though TV vendors had Minished stocked up for the peak season, shipments remained strong throughout the fourth quarter due to high capacity utilization by panel

makers and falling prices.

Fourth-quarter 2015 TV panel shipments totaled 68.4 million units, down just 0.96% from the previous quarter. Among the largesize panel applications, the TV market had the best shipment performance for 2015, growing by 8.9% on year to 269.8 million units in total.

This signiMicant increase in TV panel shipments was attributed to new China 8.5G fabs entering operation during the year and contributing to the supply.

In 2015, LG Display made the

strategic decision to reduce its reliance on orders from its group company, LG Electronics, and instead committed to the long-term development of the China market. This strategy paid off handsomely despite China-based competitors putting up a formidable challenge. LG Display retook the title of top TV panel supplier worldwide in 2015 by maintaining growth in its shipments, which went up by 6.4% on year to 55.3 million units.

Innolux also had a stellar 2015 owing to the procurement of 23.6-

inch TV panels by the Mexico government and its cost advantage in the manufacturing of the 39.5-inch TV panels. The increase in the production of 39.5-inch panels in turn helped the panel maker capture more market share. Innolux’s annual TV panel shipments for 2015 reached a record high of 51.73 million units, representing 3.1% onyear growth. Innolux was able to overtake Samsung Display to become the number two supplier in the annual worldwide ranking for the Mirst time.

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58,000 taxpayers file tax returns in Gujranwala SIALKOT: As many as 58,000 taxpayers have submitted their annual tax returns to the Federal Board of Revenue (FBR) in Gujranwala Division. According to the senior FBR officials, 31,000 taxpayers have deposited their tax returns at Gujranwala Regional Tax Office (RTO) and 27,000 at Sialkot office. As the FBR had already fixed January 31, 2016 as the final date for the online submission of tax returns, he added that more than 10,000 taxpayers would deposit their annual tax returns till this final date.

Thursday, January 21, 2016

CUSTOMS BULLETIN

multan Customs earns rs 4.5m through auction of vehicles, goods MULTAN imrAN ALi

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he Model of Customs Collectorate has generated Rs 4.55 million through the auction of conMiscated vehicles and miscellaneous goods.

The conMiscated items were presented for open auction at the Multan Customs State Warehouse, where the vehicles including Toyota Sierra Jeep, Toyota Vitz, Toyota Corolla X, Toyota Land Cruiser and Suzuki Heavy bike remained the center of attraction for the people.

However, another vehicle, Toyota Hilux Surf could not be sold due to lower bids.

The miscellaneous goods, including 40,000 liters of petroleum products, auto parts, old and used tyres and huge quantity of seized cell phones were also presented for auction, while numbers of items were not sold due to low bidding offers.

The conMiscated cell phones of Nokia and Samsung were not auctioned due to absence of authorized cellular companies.

As a whole, the impounded vehicles and other miscellaneous goods fetched Rs 4.55 million.

FBr gets friendly and traders need not worry: pervez rashid LAHORE

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ederal Minister for Information and Broadcasting Pervaiz Rashid has said that the Federal Board of Revenue (FBR) has become friendly board of revenue and there was no need for the traders to worry. He added that broadening of tax base and promotion of tax culture is in the interest of the country.

He was addressing a reception organized by All Pakistan Anjuman Tajran here on “Traders Volunteers Tax Scheme” the other day. He said that the promotion of tax culture would not only benefit the present generation but the next generations too. Pervaiz Rashid said that in the international community, those nations were considered good and patriotic which paid taxes. In those countries where the people did not pay taxes the governments were forced to tax every item of daily use like petroleum products, electricity, water etc which af-

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fected the poor section of the society, he added. He appreciated the leaders of traders community for reaching an agreement with the government on a tax system which would not only fetch tax money to the national exchequer, but also provide facilities to the traders. “We have to follow the world financial practices and if we fail to do so we will only lag behind,” he added.

He said that filer traders could get loan for their businesses while the non-filers are refused such loans as their documents do not show proof of their business.