Thursday, 18 January 2018

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Karachi, Thu January 18, 2018

KARACHI

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ollectorate of Customs Appraisement West has submitted a Rirst information report (FIR) before the customs court against absconders, owner/ partner of M/s Arham and Co, Lahore, Ahmed Mirza, Head (CSD) M/s AICT, Mehdi Sherwani, Manager (CSFShed) M/s AICT, Muhammad Hasan, Operation Manager, M/s Allied Xpert Logistics and others who were booked in a mega tax evasion case.

During the hearing, investigation ofRicer submitted the FIR against the suspects and information that the customs ofRicials approached M/s ALHamd International Container Terminal, Karachi, and recovered mobile phones, tables and batteries from a container. The investigation ofRicer informed the court that the suspects imported mobile phones, tablets and batteries in the garb of garments accessories, adding that the goods worth Rs 60 million were seized. The amount of duties and taxes involved is Rs 14 million, he said. After his arguments, the court took the Rirst information report on

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record and directed the investigation ofRicer to complete investigations and submit charge sheet against the suspects. Case was registered for violation of 2 (s), 16, 32, 43 to 45, 138, 155D, 155E, 155H, 1551 and 178 of the customs act, 1969, read with SRO 566 (1)/ 2005 dated 06/06/2005 and section 3 (1) of the imports and exports (control) act, 1950 punishable under clauses 8, 9, 14, 100 & 101 of section 156 (1) of the customs act, 1969, read with section 3 (3) of the sales tax act, 1990 and section 148 of the Income Tax Ordinance 2000, further read with appendixB of import policy order.

Big lot of mobiles, accessories, offending vehicle impounded by ASO

DG Valuation Surriya Butt to revise VR No 752/2015 on February 16

Collector Preventive Faiz Ahmad undertakes transfers/postings

‘Expats’ role in uplift of economic commendable’

Dry Port Peshawar goes profitable by earning Rs426.89 million

ASO seized 5,713 smuggled mobile 3,130 rechargeable mobile-batteries | See pAge 02 |

DGValuation has decided to revise the Valuation Ruling No: 752/2015 on Feb 16 | See pAge 03 |

Collector Faiz issued orders for immediate transfers of postings and transfers | See pAge 04 |

A delegation of OPC Punjab, comprising Vice Chairperson Shaheen Khalid Butt | See pAge 14 |

The Dry Port Peshawar has got Rs3510.08million of revenue collection | See pAge 16 |

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Ministry of Ports & Shipping gets PSDP proposals for fiscal year 2017-18 Thursday, January 18, 2018

Islamabad

ISLAMABAD: Customs Appellate Tribunal on Wednesday heard couple of customs matters involving field offices of Federal Board of Revenue (FBR) directed the respondents to submit their replies at the earliest.

Customs Appellate Tribunal’s bench comprising Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the matters. M/s United Diplomatic Bonded Warehouse and M/s Danial Engineering had filed the references.

Big lot of mobiles, accessories, offending vehicle impounded by ASo islamabad

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he Islamabad Dry Port collected Rs4.00million extra Customs Duty against an assigned revenue collection target for first week of January Financial Year 2017-18.

According to details explained by Tahir Khattak, Deputy Collector Islamabad Dry Port (IDP) while talking with Customs Today that, during above said period, the IDP was allocated a proportional revenue target of Rs64.74million as CD while it received a surplus revenue collection of Rs68.09million against an earmarked target under the same head during the same period of FY17-18. He told CT that the IDP showed 105% average of achievement against an earmarked revenue target for first week of January FY17-18 while it proved 20.36% average of growth during first week against an assigned revenue collection target for the month.

The IDP has been assigned Rs334.49million revenue collection target for the month of January FY17-18 under the head of CD. The Deputy Collector told the correspondent that the IDP is evolving a strategy to meet the revenue targets of January and 3rd Quarter (January to March) FY17-18.

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he Anti-Smuggling Organization Islamabad seized 5,713 smuggled mobilephones, 3,130 rechargeable mobilebatteries and 587 mobile-chargers along with an offending vehicle valued at Rs10.5million besides arresting a smuggler.

According to details explained by Majid Hussain Gaad, Assistant Collector Anti-Smuggling Organization (ASO) Islamabad, that, on a tip-off shared by Saeed Khan Jadoon, Collector Model Customs Collectorate Islamabad, the ASO squad, led by Superintendent Sohail Ahmad, set up a picket at Islamabad Toll Plaza and intercepted the offending Toyota car (vehicle carrying smuggling goods) bearing registration N: FF382 modelled 2015.

Assistant Collector told CT that the ASO staff asked the notorious man to show any legal proof of the loaded mobiles but the possessor failed to do so. The ASO staff impounded the mobile-phones including Nokia’s 496 pieces, Nokia, Modelled 3310, 300 pieces, Nokia, Modelled 108, 671 pieces, Nokia, Modelled 1280, 3350 pieces, Samsung, Modelled B-310, 296 pieces, Nokia, Modelled 1616, 109 pieces, Nokia, Modelled 1800, 190 pieces and Nokia, Modelled 101, 301 pieces. The ASO also seized

islamabad Dryport receives marginal customs in first week of Jan

rechargeable-batteries made in China in numbers of 3130, Nokia mobile-chargers in numbers of 587 made in China and mobile phone-packing made by China in quantity of 14 kilogram.

Gaad told CT that the ASO Is-

lamabad confiscated the above said smugglled items and registered an FIR against the smugglers and shifted all the seized mobiles and accessories to the State Ware House for further investigation.

He said the Investigation and Prosecution (I&P) Department is doing interrogation from apprehended smuggler named Mukaram Khan S/o Awal Khan, a resident of Al-Haj Market Hayatabad KPK.

ihc seeks record of case filed by collectorate of customs

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division bench of the Islamabad High Court (IHC) directed parties to submit record of the case and present arguments while hearing a matter Riled by Model Collectorate of Customs. An IHC bench comprising Justice Athar Minallah and Justice Miangul Hassan Aurangzeb earlier had dated in ofRice the hearing.

The bench also directed counsel from the respondent to ensure presence on the next date of hearing for Rinal arguments. Earlier, the bench had relisted the mater for rehearing during the next week along with other similar cases.

Collector Customs had Riled the case against Nusrat Yaqoob. The matter was pending with the court since 2014. Meanwhile the bench also dated in ofRice hearing of cases submitted by M/s PakistanTobacco Company Limited. The bench also

heard another tax matter Riled by M/s Pakistan Tobacco Company Limited. The appellant had Riled case challenging a show cause notice issued by the Large Taxpayers Unit, Islamabad. M/s Pakistan Tobacco Company Limited had contested show cause notices issued by the Rield ofRices of Federal Board of Revenue. According to details, M/s Pakistan Tobacco Company Limited had challenged recovery notice issued to it in head of outstanding sales tax by the LTU, Islamabad.

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Court extends physical remand of suspect in diesel smuggling case KARACHI: The Customs Taxation and Anti-Smuggling Court extended physical remand of suspect namely Muzafar Khan and sent him to Marine Wing of the Pakistan Coast Guard.

The suspect was booked for attempting to smuggle 25000 liter non-duty paid Iranian high speed diesel. During the hearing, investigation officer Muhammad Arshad produced the suspect before the court and informed that a team of the Pakistan Coast Guard Kemari Town intercepted a boat Safina Kamal bearing registration number 21704-B model 2017 and recovered 25,000 liter diesel.

Shc appellate bench allows petition challenging St

Thursday January 18, 2018

Karachi

Dg Valuation Surriya Butt to revise VR No 752/2015 on february 16

KARACHI

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indh High Court has allowed a petition challenging sales tax. A SHC appellate bench, comprising JusticeAqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan, ordered the petitioner Jeewa International to deposit the amount of Sales Tax with the Nazir of the SHC. An advocate from Franklin Law Associates appearing before the bench submitted that import of raw material (Iron) imperative for construction at the said plot. There was a sales tax exemption on import of raw iron, the counsel said seeking release of the consignment.

The bench later extended concession of provisional release, directing the custom officials to release the consignment once amount of sales tax is realized.

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govt amends scheduled of RD levy on light fittings KARACHI

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he finance ministry has amended the schedule of regulatory duty rate of 30 percent, which was imposed on the import of light fittings with fixed/fitted LED/SMD lights under PCT 9405.1090 notified vide SRO 1035(I)/2017. Accordingly, RD on cocoa powder (without sugar) is reduced to 20 percent from 40 percent.

RD on Sulphonic acid, cocoamidopropyl betaine (CAPB) under PCT 34.02 is reduced to 10 percent from 20 percent earlier. Moreover, sacks and bags of polymers of ethylene if imported by registered units for in house use for packaging food and dairy products will invite RD of 5.0 percent. Certain parts including covers for inner body, Enamelled and coated for antirust purposes and others if imported by registered units of AC manufacturers will invite 10 percent RD.

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KARACHI

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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 752/2015 on February 16, 2018, it is learnt.

According to the details, Surriya Butt has said that the department was reviewing suggestions from various importers to set new prices of Copper Clad laminated sheets.

She said that some valuations, which were issued in 2015, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international market. Sources told that a petition was submitted before the Customs Valuation in which change in prices of Copper Clad laminated sheets was requested.

Sources said that Valuation Ruling No: 752/2015 was issued on June 23, 2015. A meeting was held with the stakeholders on 2 January 2018. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.

Meanwhile, Directorate General of Customs Valuation has decreased customs values up to 20 percent on import of skimmed

milk powder for determination duty and taxes at clearance stage through Valuation Ruling No. 1239/2018.

The customs values of skimmed milk powder and instant milk powder were earlier determined vide Valuation Ruling No. 843/2016 issued on May 02, 2016.

The directorate said that several representations were received from commercial importers as they claimed the value

Sources told that a petition was submitted before the customs Valuation in which change in prices of copper clad laminated sheets was requested

Shc attaches all petitions on duties to LeD lights

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he Sindh High Court (SHC) attached all the constitutional petitions on the imposition of duties and taxes to another constitutional petition Riled by the Light Centre against the imposition of duties and taxes on a consignment of LED lights. The two-member bench also directed the customs ofRicials to Rile their respective comments on the

next date of hearing. During the hearing, counsel for the petitioner stated that it is engaged in a lawful business of import of abovementioned goods according to the bylaws which is entitled under the 5th Schedule of the Customs Act-1969 and imported a consignment of abovementioned items and Riled the Goods Declaration for availing the exemption as entitled under the 5th Schedule of the Customs Act-1969. Counsel further informed the court that the ofRicials of the model customs collectorate ap-

praisement has not accepted the assessment made by the petitioner on the pretext that the petitioners’ goods are not entitled to relevant exemption as per assessment. Citing Chairman Federal Board of Revenue, Collector of Customs Model Customs Collectorte Appraisement West, the Engineering Development Board Alternate Energy Department Board as respondents, petitioner pleaded the court to kindly declare that act of the respondent as illegal, mala Ride and arbitrary.

of the items need to be re-determined keeping in view decreasing trend in international prices.

In this regard meetings with stakeholders including importers and representatives from field formations were held on, 2017 to discuss the current international prices of the goods. The stakeholders informed that the existing valuation ruling should be reviewed in the light of prevailing international market prices.

international markets roundup all Street has surged to fresh highs as rising oil prices lift energy stocks and an upbeat forecast from No. 2 US carrier Delta Air Lines drives airline stocks higher. Brent crude rose above $US70 a barrel and US crude rose 1.57 per cent to $US64.58 per barrel, its highest since December 2014, boosted by a surprise drop in US production and lower crude inventories.

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Customs court issues warrant for alleged smuggler Thursday January 18, 2018

Lahore

LAHORE: The Special Court of Customs Taxation and Anti-Smuggling has issued warrant for a suspect wanted in a smuggling case.

Muhammad Amir son of Muhammad Saleem, a resident of Garh Maharaja, district Jhang, was served several notices to appear before the court for attending the hearing. But he remained reluctant to appear before the court and defend the allegations therefore the customs court has issued him warrant directing to appear before the court within 30 days otherwise he will be declared a Proclaimed Offender.

Muhammad Amir is wanted by Customs Faisalabad in a case No: 35/15 against smuggling.

customs court approves bails of two accused in mobiles smuggling LAHORE

M iMRAN MehAR

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he Special Federal Court of Customs Taxation and AntiSmuggling has granted bails of two accused in a mobile smuggling case. The two were apprehended in the smuggling of mobile phones from the Allama Iqbal International Airport while making an attempt to smuggle a huge quantity of mobile phones.

Two accused named Abdul Rehman and Saleem Mukhtar were held last week when they appeared before the customs court then were sent to jail for judicial trial.

Earlier, the customs ofRicials had conRiscated about 321 mobile phones from two passengers travelling via Rlight from Sharjah to La-

customs court extends remand of suspects in mobiles smuggling case he Customs Court extended physical remand of suspects namely Faisal Bin Muhammad, Sheraz Khan and Khan Bahadur and sent them back to the Customs Department. The suspects were booked for attempting to smuggle more than 14,000 mobile phones in the garb of diplomatic privilege. During the hearing, the investigation officer produced the suspects before the court and informed that a team of Anti-Smuggling Organization intercepted a container at Chamra Chowrangi and recovered 14,295 China branded mobile phones, 8,296.24 kilogram auto parts and others goods. He said that total tentative value of the goods was Rs. 65,517,661 and duty and taxes involved were Rs 3,000,859. The importer brought the goods into the country under the garb of household goods under diplomatic privilege claiming admissible exemption thereof. –CB Report

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hore during a raid on the Allama Iqbal International Airport.

The customs arrested both accused from a Rlight of the Air Blue.

The customs shifted them to an unknown place for further investigation. The worth of the recovered mobile phones is more than Rs6million in Pakistani market.

Recovered mobile phones were of different brands including Apple I phones, Samsung, Nokia, Xiomi and HTC. The customs court on Monday approved their bails against a cash guarantee of Rs200000 each.

Meanwhile, The Special Federal Court of Customs Taxation and Anti-Smuggling has granted bails of two accused in a mobile smuggling case. The two were apprehended in the smuggling of mobile phones from the Allama Iqbal International Airport while making an attempt to smuggle a huge quantity of mobile phones.

collector preventive faiz Ahmad undertakes transfers/postings LAHORE

M hAYAt

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ollectorate of Customs Preventive Collector Faiz Ahmad issued orders for immediate transfers of postings and transfers which includes superintendent, deputy superintendent and inspectors deputed at Air Freight Unit (AFU), Railway Station T-10, Wagha Border, Land Freight Unit, Anti Smuggling Organization, General Post OfRice.

According to a notiRication Superintendent Syedzada Alamdar Hussain, Amjad Ali Chaudhary, Nasir Mehmood Tarar, Ghulam Jaffar, Abdul Shakoor, Inspector Tahira Ali, ShaRiq Ahmad, Iftikhar Ahmad Hasan, Rafaqat Hussain, Mohammad Rashid, Inspector Asif Sohail, Rizwan Mehmood, Tariq Amir, are transferred to Lahore Air Freight

Lhc orders fBR to decide tax appeal filed by food company

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he Lahore High Court (LHC) has ordered the Federal Board of Revenue (FBR) to decide an appeal Riled by the Big Bird Company. Justice Aisha A Malik heard the appeal Riled by the food company in which counsel for appellant argued that the appeal is under proceeding before the Federal Board of Revenue (FBR). So instead of deciding the appeal, the FBR is issuing notices to the food company.

Until the decision of the appeal, the tax notices are illegal so the court

may order the FBR to decide the case.

In another case, the Lahore High Court has ordered the Commissioner Inland Revenue (CIR) to decide the case Riled by the Anjum Taxtile Mills after hearing the comments Riled by the appellant. Counsel for the appellant argued before the court that the FBR sent served notices on the appellant for extra tax which was deposited by the appellant but, after that, the FBR sent another tax notice of Rs04million which is a burden on the taxpayer. –CB Report

Unit. While Inspector Mazhar Muneer, Mohammad Irfan, Ahmad Sadqeem, Nazar Mohammad, Mohammad Nazir, Abdul Sattar, Bashir Chaudhary, Shabbir Ahmad, Khalid Khan, Shahidul Hassan, Inspector Mazharul Haq, Rai Khalid Javed will perform their duties at Allama Iqbal International Airport.

It is also notiRied that Inspector

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Abdul Ghaffar, Waheed Iqbal, Bhatti, Abdul Rehman Butt, Inspector Azam Hussain Wattoo, Mohammad Maratib Mushtaq, Shahid Khan, Zaffar Iqbal are transferred to Anti Smuggling Organization. It is also notiRied that Inspector Mohammad Nasir Minhas will also hold the charge of Investigation and Prosecution branch.

customs tribunal hears 27 cases he Customs Appellate Tribunal (single & double) bench heard 27 cases on Wednesday and adjourned all for different dates without those cases whose verdicts were reserved. The division bench-II, comprising Muhammad Shabir Gujjar, Member Judicial and Imran Tariq, Member Technical, heard 17 cases including Qazafi Enterprises versus Customs Lahore, Collector Customs Lahore versus Muhammad Naseem two cases, A M Steel Furnace versus Customs Faisalabad, Collector Customs Lahore versus Syed Bhais, Pak

Kuwait versus Customs Lahore, Zaineb DF private limited versus Customs Lahore.

Furthermore, same bench heard cases of Abdul Qadir Shah versus Customs Faisalabad, Imran Khan versus Directorate of Intelligence and Investigation Multan, Muhammad Munir Jamal versus Directorate of Intelligence and Investigation Multan, Collector Customs Faisalabad versus Techno Textile, Shaheen Builders versus Directorate of Intelligence and Investigation Multan and Jellan Logistics versus Customs Faisalabad. –CB Report

Arfan Yousaf takes charge of fpcci regional office

N LAHORE

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ewly-elected Vice-President and Regional Chairman of Federation of Pakistan Chamber of Commerce Industry (FPCCI) Chaudhry Arfan Yousaf has said that he is well aware of the current issues of business community and ef-

forts would be made in order to resolve all their issues relating to taxes, regulatory duty, customs, smuggling, refund and rebate, starting business and cost of doing business. Addressing the ceremony, high utility expenses of electricity and gas had also disturbed the manufacturing sector, he said, adding that a detailed report on the issues and concerns of each district of Punjab

would be prepared. Monthly meeting with each chamber and Association would also be priority of the new body. Chaudhry Arfan said that doors of Federation of Pakistan Chambers of Commerce and Industry would always remain open on traders and industrialists.

He also mentioned that the media was playing very important role in economic well-being of the coun-

try as productive inputs of electronic and print media could present soft image of the country. He added that media should expend commerce pages as business community was now growing speedily.

FPCCI Vice President Ms Shabanam Zafar said that she would ensure active participation of all the women chambers in economic growth of the country.

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he Senate Standing Committee on Commerce has termed the Strategic Trade Policy Framework (STPF) 2015-18 as jugglery of words with observation that it has failed to produce desired results in many Rields, including exports.

The monetary policy, tariff and tax regime, and industrial and investment policies, were one of the key points of the STPF 2015-18. The STPF 2015-18 aimed to enhance annual exports to $35 billion by June 2018 along with transition from ‘factor-driven’ economy to efRiciency-driven and innovation-driven economy and increase share in regional trade.

In this regard, the main focus had to be four chosen markets including Iran, Chi Afghanistan and European Union with products including basmati rice, hortic ture, meat and meat products, jewell and others. Therefore the committee p posed to the Ministry of Commerce (M to devise a new trade policy with ratio national export targets.

Committee met here with Chairman S bli Faraz in the chair to supervise implementation status of the reco mendations of the committee by MoC and attached departments. Sec tary Commerce Younas Dhaga inform the committee that out of total 63 so 52 recommendations of the commit had been implemented while imp mentation of remaining 11 recomm

e on hina, key cullery proMoC) onal

Shithe omthe cremed ome ttee plemen-

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dations was in progress Dhaga told the committee about the different activities carried out by TDAP for the promotion of trade and exports in Balochisstan. But, Senators Rubina Khalid, Naseema Ihsan and other members of the committee strongly criticized Trade Development Authority of Pakistan (TDAP) for making least efforts for the promotion of trade and exports related activities in Balochistan. In previous meeting, chairman committee had proposed closures of TDAP. Commerce Secretary also told the committee that free trade agreements with China and Indonesia were being revised to grab more opportunities for Pakistani exporters in both the markets. In this regard, talks had been held with China in Beijing for seek-

ing more relaxations in non-tariff barriers, avoidance of double taxations and other incentives for Pakistani exporters.

Regarding a question about enhancement of exports from locally produced palms from Balochistan, Dhaga said that as per committee’s recommendations, value of palms export had increased to $ 150 million from $ 140 million, registering an increase of $10million.

In this connection, he said that ministry had taken countrywide measures to enhance palms exports; Palms Export Development Plant had been set up in Khairpur Sindh while Palms Export Processing Plant would be established soon. Committee proposed establishment of plant for the promotion of Palms in Khyber Pukhtunkhwa.

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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

prospects of economic growth

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ccording to the Global Economic Prospects report published by the World Bank, economic growth of Pakistan is expected to increase by 5.5 percent during the current fiscal year. However, domestic risks, fiscal slippages, increasing liabilities of infrastructure projects and limited growth in tax revenues are the issues need to get serious considerations. Though the lack of revenue generation through taxes can affect fiscal consolidation, the GDP is likely to record an average growth of 5.9 percent over the medium term due to domestic consumption, rising trend of foreign and local investment and a recovery in exports of value added goods. Pakistan achieved growth rate of up to 5.3 percent during the previous fiscal year of 2016-17 against the set target of 5.7 percent due to slow growth of the industrial sector but the construction and services sector performed well along with recovery in agriculture production. The bank maintains the economy has continuously been growing since the beginning of the current fiscal year, partly by increase in the domestic demand and partly by the credit growth.

The infrastructural projects related to the China-Pakistan Economic Corridor also played their role in the growth process.

However, the exports are picking up now, but the report points out widening current account deficit of 4.1 percent of the GDP as compared to 1.7 percent during the previous year. The report also points out slowed economic growth in South Asia, which remained 6.5 percent in 2017 owing to adverse weather conditions. Still the growth prospects remained robust with expected increase in household consumption, improvements in the infrastructure and introduction of policy reforms. The bank says that the regional growth will reach 6.9 percent in 2018 and will stabilise at 7.2 percent over the medium term. The governments will continue to adopt accommodative monetary policies to achieve at least the modest fiscal consolidation. Pakistan has been facing shortfalls in its revenues which slowed down the fiscal consolidation last year. The current account deficits have gradually widened, not only in Pakistan, but also across the region.

infrastructure financing by lending agencies A

LAHORE

DR AftAB AfZAL

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ccording to the Asian Development Bank, it is exploring opportunities to fund development projects in various countries, including Pakistan, in collaboration with the Asia Infrastructure Investment Bank.

The two giant Rinancial organisations are already co-Rinancing various projects, including construction of roads, clean energy as well as private-sector undertakings.

The banks have so far co-Rinanced infrastructure projects, one each in Pakistan, Bangladesh, Georgia and India with total loans of over $700 million. An ADB ofRicial claims the banks are cooperating

and complementing each other rather than promoting any rivalry between them. The banks are also trying to enhance coordination and hold frequent meetings between their ofRicials.

Unfortunately, instead of relying on the indigenous resources, the so-called developing countries like Pakistan always Rind solutions to their Rinancial woes in loans and mortgage not only their economy but also independence to the lending agencies. The World Bank, the International Monetary Fund, Asian Development Bank and now the Asia Infrastructure Investment Bank are increasing their areas of inRluences by lending loans and grants to the poor nations. The loans are

always attached with strings which the lending agencies use to recover the money. Practically, no country has so far achieved development with the help of foreign loans and the policymakers of Pakistan know this point pretty well. But it is yet to ascertain what made them to get into the loans programmes with various Rinancial institutions.

The two banks are now joining hands to support each other in loan programmes and only way to exploit their policy is to involve them in the projects launched on Built, Operate and Transfer basis.

If Pakistan starts a project of built-train from Lahore to Karachi, the two banks can be involved in the development of the

infrastructure. But only getting loans in cash adding burden to the national economy is not plausible. The Asian Development Bank was set up around 50 years ago. Despite being one of its biggest client, none of the Pakistanis ever headed the bank. This is the worth of Pakistan and its economy in the comity of nations.

The population of Pakistan is growing and thus emerging into a big consumer market. But the country is still far away from plans and policies which it desperately requires to boost business and the economy. On another note, the Rinancial institutions are continuously doing homework to deal with the emerging situation.

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Police arrest diesel smugglers, hand over to Customs KARACHI: The police have arrested 18 suspects, including a diesel smuggler, in different raids and recovered arms, snatched motorbikes, cell phones and drugs from their possession.

The police handed him over to the Customs police for further investigation. It was learnt that during the search operations in Sharfi Goth, Surjani town, Eidgah and Ittehad Town, the police detained eight alleged criminals. Police carried out raids in other areas including Zaman Town, and nabbed three drug peddlers and recovered wine and hashish from them. Police also arrested three motorbike lifters, Ishtiaq Nabi, son of Nabi Hussain, Danial son of Aqeel, Muhammad Asad son of Muhammad Akhtar from Ajmair Nagri and Shahrah Noor Jahan areas. The police also recovered three stolen bikes from their possession.

customs pQ unearths tax evasion of Rs 5.4m by M/s Malik Steel Re-Rolling Mills

Thursday January 18, 2018

National

Adjudication-ii recovers Rs 5.68m from M/s khan Jee wires

KARACHI

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ollectorate of Customs Port Qasim has registered a case against a prominent steel company for evading over Rs 5 million taxes and duties and defrauding the government in import of scrap, Customs Today has learnt through sources.

According to the information received from Port Qasim, Collector Saeed Akram received information that M/s Malik Steel Re-Rolling Mills, Mominpura, Lahore imported remittable iron scrap consisting of eight containers and the consignments were declared totally filled with iron scrap by hoodwinking the customs staff. A team comprising Deputy Collector Ahsan Ullah Shah, Appraiser Anwar Zaib and Rana Ansaram Rabbani of the Customs Investigation Unit of Port

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he Customs Adjudication-II has served a show cause notice on a defaulter company M/s Zahoor Elahi and Sons Karachi and recovered Rs 5.68 million from M/s Khan Jee Wires (Private) Limited Karachi in another case.

Sources told Customs Today that M/s Zahoor Elahi and Sons were allegedly involved in tax evasion. The company imported various types of refrigerator parts on November 2, 2017 and used the wrong PCT heading. The consignment was cleared by Examiner Munawar Shaikh.

After a careful investigation, the Customs Adjudication-II issued a final notice to the company to clear the outstanding amount of Rs 4.58 million and file all documents who used for the clearance time within 14 days. Source told that another company M/s Khan Jee Wires (Private) Limited Karachi got cleared a consignment of hard plastic (use manufacturing hard wire) on 1st November and evaded tax amount

of Rs 5.68 million.

After the careful investigation, Customs Adjudication-II served a show cause notice on the company on November 28, but it failed to clear the outstanding tax amount.

Collector Customs Adjudication-

II Tahir Qureshi issued a final notice to the company 2017. After receiving the notice, the company deposited Rs 5.68 million in favor of the Customs Department.

Source said Collector Customs Adjudication-II Tahir Qureshi and

their department showing excellent performance in last month and Custom Adjudication-II is investigate 12 more cases during the current month and it may be possible more show cause and final notices can be issued.

Shc allows amending title of petition for release of vehicle KARACHI

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Qasim unearthed the tax evasion.

The consignments were examined.

According to the GD, the value of taxes and duties were around Rs 1 million but on thorough examination, it was revealed that some complete stuff was being tried to be cleared in the garb of scrap causing Rs 5.4 million losses to the government exchequer. Thus, a contravention report was prepared and two importers and their clearing agent namely M/s Jam International have been nominated in the case for recovering the evaded amount and for further legal proceedings.

he Sindh High Court has allowed an application for amending the title of a petition seeking release of a vehicle from the custody of Customs Preventive. Abid Muhammad, owner of a Toyota Premio car, moved the court against confiscation of his vehicle. The petitioner alleged that he owns a car showroom. The officials of Anti-Car Lifting Cell (ACLC) came to his showroom and demanded ‘extortion’. Upon refusal, they took the vehicle and later confiscated it. The petitioner was asked to produce the documents to prove it a legally imported vehicle, which the petitioner proved by filing auction papers issued by Customs Collec-

torate, Quetta but the vehicle was not returned. Filing a new authorization to represent the petitioner, Ms Dil Khurram Shaheen advocate submitting the application sought permission to amend the title and make Collector Customs, Preventive party to the petition. She maintained that ACLC after filing of the instant petition handed over the custody of vehicle to the Preventive Collectorate.

She said that in view of new development, amending the petition and citing Preventive Collectorate is inevitable.

The bench, comprising Justice Muhammad Iqbal Kalhoro and Justice Muhammad Saleem Jessar, agreeing to the arguments advanced by the counsel for petitioner, allowed the application while putting of further proceedings to an unspecified date.

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Meetings scheduled for to fix Customs values of several items Thursday January 18, 2018

National eleven illegally imported cars impounded by customs Lahore

KARACHI: With the aim to determine customs values of iron or non alloy steel wire rod and stainless steel kitchen ware, the Directorate General of Customs Valuation has scheduled two meetings with the stakeholders, including importers, traders and industry representatives.

According to the schedule, the meeting regarding determination of customs values of iron or non alloy steel wire rod and stainless steel kitchen ware would be held on January 8 at 11:00 and 11:30 respectively.

federal Board of Revenue undertakes transfers/postings

LAHORE

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ISLAMABAD

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he Pakistan Customs Intelligence Lahore has taken into possession as many as 11 costly vehicles during first six months of Fiscal Year of 2017-18. In a crackdown on non-custom-paid cars, the customs officials impounded numerous luxury cars with fake number plates and registration papers including Toyota Land Cruiser, Toyota Surf, and sports utility vehicles from 1st of July 2017 to 31st of December 2017. Sources told Customs Today that “the cars were illegally brought into the city without paying customs duty”. Influential members of the society called the customs department to request the release of the cars, sources further told Customs Today but Pakistan Customs did take action as per customs bylaws and all the accused were taken to the court for legal action. In an ongoing crackdown on smuggling of vehicles.

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customs officers promoted to grade-21, grade-20 he Central Selection Board (CSB) approved promotions of officers in Grade-21 and Grade-20. Officers of Pakistan Customs Service (PCS) including Zulfikar Malik, Sarfaraz Ahmad Warraich, Naeem Ejaz Qureshi, Ziauddin Wazir, Tariq Huda, Wasif Memon, Mujtaba Memon and Saud Imran are promoted to Grade-21.

Moreover, PCS officers including Iqbal Bhawana, Imtiaz Ahmed, Wajid Ali, Ahmed Rauf, Imran Khan, Akhtar Hussain, Adnan Akram, Zeba Azhar, Khalid Hussain, Kamran Azam, Mumtaz Khoso, Nadeem Memon and Saqib Saeed are promoted to Grade-20. Sources said there might be a large scale reshuffling on top level of Pakistan Customs in coming days. –CB Report

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he Federal Board of Revenue (FBR) has undertaken transfers/postings of the ofRicers of Inland Revenue Service (BS-18 & 19) with immediate effect and until further orders. Dr. Erfa Iqbal (Inland Revenue Service/BS-19) has been transferred from Secretary, Federal Board of Revenue (Hq), Islamabad to Lahore as additional commissioner Inland Revenue Regional Tax OfRice II, Lahore, Shehzad Mehmood (Inland Revenue Service/BS-19) from Islamabad Secretary, Federal Board of Revenue (Hq), Islamabad to Lahore as Additional Commissioner Inland Revenue Regional Tax OfRice II, Lahore, Talha Aziz Khan (Inland Revenue Service/BS-18) from

Secretary, (OPS) (IT Wing) Federal Board of Revenue (Hq), Islamabad to (SO-II to Chairman) Federal Board of Revenue (Hq), Islamabad.

Naveed Khan (Inland Revenue Service/BS-18) from Second Secretary, Federal Board of Revenue

(Hq), Islamabad to Additional Commissioner Inland Revenue (OPS) Large Taxpayers Unit, Islamabad, Kashif Manzoor Malik (Inland Revenue Service/BS-18) Additional Commissioner-IR, (OPS) Large Taxpayers Unit, Is-

lamabad to Additional Commissioner Inland Revenue (OPS) (BTB) Islamabad, Shahid Ijaz Tarar (Inland Revenue Service/BS-18) from Second Secretary, Federal Board of Revenue (Hq), Islamabad to Second Secretary.

tax evasion of Rs23.50m unearthed by customs post clearance Audit T

KARACHI

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he Directorate of Customs Post Clearance Audit has detected an evasion of duties and taxes of Rs23.50million by M/s Sonehra Enterprises, it is learnt. The official sources told our reporter that M/s Sonehra Enterprises Karachi imported a consignment of Paper Role and different parts of printing machines from Germany under the PCT Heading 4509.3588 and got it cleared from the PICT Karachi vide GDs on October 18, 2017 by paying customs duty at 8 percent after claiming the benefit of the two different SROs. However the subject items are correctly classiRiable under the PCT 5606.4578 attracting customs duty at 10 percent and income tax at 16 percent thus, by way of mis-declara-

tion of classiRication, M/s Sonehra Enterprises Karachi evaded/shortpaid Rs23.50million through Examiner Qayyum. Sources told the reporter that the importer has violated

the provisions of Section 59 (8) & (6A) of the Customs Act-1969, Section 15, 18 read with Section 88 of the Sales Tax Act-1990 and Section 186 of Income Tax Ordinance 2001

punishable under clauses (156) and 125 of Section 768(9) of the Customs Act-1969, Section 72 of the Sales Tax Act-1990 and Section 80 & 124 of Income Tax Ordinance 2001.

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Adjudication-I recovers Rs 5m from M/s Jibran Chemical Company KARACHI: The Customs Adjudication-I has retrieved Rs 5 million from M/s Jibran Chemical Company Karachi. The company was allegedly involved in tax evasion.

Sources told Customs Today that Collector Customs Adjudication-I Mohammad Javed issued a show-cause notice to the company for causing a loss of Rs 5 million by way of misdeclaration of classification. M/s Jibran Chemicals Company imported a consignment of different chemicals cane include cystic and liquid bleach and got them cleared by misdeclaring the classification under the Pakistan Custom Tariff (PCT) from the Pakistan International Container Terminal (PICT). The company allegedly availed undue and inadmissible benefit as well as exemption of sales tax.

NBp assures fBR’s fAte wing of making his subordinates file tax returns ISLAMABAD

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team of the Facilitation And Taxpayer Education (FATE) wing of the FBR met the top leadership of The National Bank of Pakistan (NBP) as part of FBR’s taxpayers’ outreach programme started last year to create an awareness and understanding of the advantages of filing of tax returns and extending FBR’s help and facilitation to the employees of large organisations at their doorsteps for E-filing. The meeting was held between the FBR team led by Member FATE Ms Nausheen Javaid Amjad and National Bank of Pakistan (NBP) President Saeed Ahmed who was assisted by Abdul Wahid Sethi (SEVP/CFO) and Zahid Mahmood Chaudhry (SEVP & Group Chief, Human Resources Management Group).

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The meeting was in continuation of the proactive steps taken by the FBR in recent months to inform the large public and private sector organizations of the advantages of E-filing by their employees. The Member FBR told the NBP management that as per data available with the FBR, a considerable number of employees of major banks were not filing Income Tax returns and sought help from NBP President and his team to motivate their employees to fulfill their national obligation by filing their tax returns. NBP President Saeed Ahmed assured the FBR-wing of his full cooperation for this national cause, and directed the bank management to instruct the employees to file their Income Tax returns at the earliest. He also welcomed Member FATE FBR Ms. Nausheen Amjad’s offer for deputing FBR teams at the NBP branches in major cities to impart one-day training and assist the bank officials in filing of their due returns.

National

faisalabad customs releases consignments after receiving evaded taxes

Strict surveillance of customs preventive lowers smuggling at JiAp KARACHI

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he Collectorate of Customs Preventive has shown tremendous performance by foiling several attempts of smuggling during the last four month. According to sources, the Pakistan Customs Preventive foiled several attempts of smuggling of gold, drugs and foreign currency at the arrival and departure lounges of Jinnah International Airport (JIAP) As per the data shared by sources, the Custom Preventive seized over 1,000 tola gold worth more than Rs 50 million during the last six months at the airport. Not only gold but the Customs Preventive staff also foiled attempts to smuggle five kilogram silver, expensive cellular phones, drugs as well as other contraband items. The major activities of the smugglers were reported during the last four month when the mafia tried to used older passengers as a trick for smuggling their contraband items through their luggage and used female passengers to become a part of smuggling of gold as well as foreign currency by sticking it to their bodies, said the sources.

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FAISALABAD

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he Customs Intelligence and Investigation released the consignments worth Rs2million after receiving an evaded amount of duties and taxes. The said consignments were impounded during the month The consignments released consist of foreign origin (F/O) cloths worth Rs204986, miscellaneous goods valued at Rs107937, cigarette-lighters Rs1.5million and other consignments of computers and LCDs priced at Rs190655.

The said consignments were seized due to evasion of Customs Duty of Rs423664, Sales Tax of Rs624004, Income Tax of Rs336962 and Redemption Fine Duty of Rs547272 during the month of 2017. The tax evasion was detected by a team comprising Superintendent Muhammad Tahir and Intelligence OfRicer Mansoor Nasir.

Meanwhile, The Customs AntiSmuggling Organization (ASO) Assistant Collector Shah Samand Hamdani has said that surveillance has been stepped up in Faisalabad to curb smuggling of items in guise of trade. Talking to

Thursday January 18, 2018

Customs Today Shah Samad Hamdani has said that all these measures have been taken following the directions of Faisalabad Customs Collector Muhammad Sadiq, adding that the ASO teams were performing their part efficiently in order to save the national economy and local markets.

It is necessary to mention here that ASO teams under the super-

vision of Assistant Collector Shah Samand Hamadani established different check posts on the roads where every vehicle, including passenger buses and trucks were being checked. The officials were also warned the drivers that stern actions will be taken against the accused person if anyone found involved in the transporting of non duty paid items.

customs reduces 21% valuation on import of skimmed milk

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KARACHI

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irectorate General of Customs Valuation has decreased customs values up to 20 percent on import of skimmed milk powder for determination duty and taxes at clearance stage through Valuation Ruling No. 1239/2018.

The customs values of skimmed milk powder and instant milk powder were earlier determined vide Valuation Ruling No. 843/2016 issued on May 02, 2016.

The directorate said that several representations were received from commercial importers as they

claimed the value of the items need to be re-determined keeping in view decreasing trend in international prices. In this regard meetings with stakeholders including importers and representatives from Rield formations were held on December 12, 2017 to discuss the current international prices of the goods. The stakeholders informed that the existing valuation ruling should be reviewed in the light of prevailing international market prices. After the meeting with the stakeholders, the directorate decided to reduce the customs values of following variety of skimmed milk: Skimmed Milk Powder (In Bulk Packaging) under PCT Code 0402.1000;

the customs valuation has been reduced by 20 percent to $1.95 per kilogram from previous value of $2.45/kg on import from New Zealand, Australia, West Europe, Canada and USA. On import of Iran the customs valuation has been reduced by 16 percent to $1.5/kg from $1.8/kg. The valuation has been reduced by 21 percent to $1.78/kg from $2.25/kg on import from other regions. 02.Skimmed Milk Powder (In Retail Packing up to 5kgs/pack), the valuation has been reduced by 16.22 percent to $2.22/kg from previous valuation of $2.65/kg on import from origins including New Zealand, Australia, West Europe,

Canada and USA. The customs valuation of this category of skimmed milk has been reduced by 14.63 percent to $1.72/kg from $2.05/kg on import from iran. Similarly, the valuation has been reduced by 16.07 percent to $2.14/kg from $2.55 kg on import from all other origins. 03.The customs valuation on instant milk powder with vegetable fat (in bulk packing) has been reduced by 2.85 percent to $1.7/kg from $1.75/kg on import from all origins. 04.The valuation of Instant Milk Powder with vegetable fat (in retail packing up to 5kg/pack) has been reduced by 2.7 percent to $1.8/kg from $1.85/kg on import from all origins.

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World Customs

Italian machinery sector set to post record year

ROME: The Italian plastic and rubber machinery manufacturing sector is set to post 5 percent growth for the year 2017, with an estimated all-time high of $5.4 billion worth of production, according to industry association Amaplast. Citing figures by Italy’s state statistics body ISTAT, Amaplast also reported a 12 percent increase in imports of machinery and a 16 percent year-on-year rise in machinery exports in the first nine months of 2017. Throughout the nine-month period, roughly 70 percent of Italian production was exported, with most machinery types showing “good performance,” Amaplast.

Thursday January 18, 2018

uS customs seize largest cocaine uk eyeing ‘extremism’ tax on social media giants load from the caribbean LONDON

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SHENZHEN

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he United States Customs and Border Protection (CBP) agency says ofRicers from the Area Port of Philadelphia have seized the largest local cocaine load in 10 years when they discovered 709 pounds concealed inside cabinets that was shipped from Puerto Rico.

As a result of the seizure, CBP on Monday said that the US Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) Newark’s OfRice, in Cherry Hill, New Jersey, initiated an investigation that is still active.

The cocaine weighed 321.64 kilograms – just over 709 pounds, and had a street value of about US$22 million. While examining shipping containers at a seaport in Pennsauken, New Jersey on November 2, CBP said ofRicers “detected an

too high tax revenue target frightens business people his year, the government is set to increase tax revenue by 10.94 percent of Rp 1.42 quadrillion (US$99.39 billion) as stipulated in the 2017 state budget. But, if the 2018 tax revenue target is calculated based on the realization of last year’s target, which was at Rp 1.15 quadrillion, while the tax office is assigned to collect Rp 1.62 quadrillion, this year’s target will see a growth of 23.71 percent.

PT Indofood Sukses Makmur director Franciscus Welirang expressed his concern as he believed that businesses would become victims of a high tax revenue target. It is frightening to see the 20 percent target,” he said, as quoted by tribunnews.com on Monday. Similar comments came from the chairman of Indonesia’s Chamber of Commerce and Industry (Kadin Indonesia), Rosan Roeslani. –CB Report

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anomaly in one and transported that container to CBP’s Centralized Examination Station in Philadelphia.

“OfRicers emptied the contents of the container, and, after thorough inspection, discovered false walls in numerous pieces of bedroom furniture and kitchen cabinets,” CBP said. “The false compartments concealed 256 bricks of a white powdery substance that Rield tested positive for cocaine.”

Additionally, ofRicers discovered a

nearly 30-pound cocaine load at the same seaport November 28 concealed inside a wooden chest. That load, 13.56 kilograms with an estimated street value of about US$900,000, was shipped from Puerto Rico and destined for an address in Cinnaminson, New Jersey. “Customs and Border Protection knows that transnational drug trafRicking organisations will take advantage of natural disasters, and, in this case.

turkish customs seize 340 rare parrots smuggled from congo

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urkish Customs seized 341 rare African gray parrots that were smuggled from Congo and kept at a warehouse in Istanbul, State-run Anadolu News Agency reported. 10 of the parrots, kept in cargo packages, were found dead and the remaining 331 were sent to a wildlife rescue and rehabilitation centre in the northwestern province of Bursa, the report said.

The endemic birds were smuggled via Iraq, later to be sold to markets in Turkey, Anadolu said.

Turkey remains a key transit route for illegal trafRicking of endangered species, especially from Africa and Asia, to European markets. Trading African gray parrots was banned in 2016 under the Convention on the International Trade of Endangered Species of Wild Fauna and Flora (CITES). –CB Report

he UK government has kicked off the new year with another warning shot across the bows of social media giants. In an interview with the Sunday Times newspaper, security minister Ben Wallace hit out at tech platforms like Facebook and Google, dubbing such companies “ruthless proRiteers” and saying they are doing too little to help the government combat online extremism and terrorism despite hateful messages spreading via their platforms.

“We should stop pretending that because they sit on beanbags in Tshirts they are not ruthless proRiteers. They will ruthlessly sell our details to loans and soft-porn companies but not give it to our democratically elected government,” he said. Wallace suggested the government is considering a tax on tech

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Rirms to cover the rising costs of policing related to online radicalization. “If they continue to be less than co-operative, we should look at things like tax as a way of incentivizing them or compensating for their inaction,” he told the newspaper. Although the minister did not name any speciRic Rirms, a reference to encryption suggests Facebookowned WhatsApp is one of the platforms being called out (the UK’s Home Secretary has also previously directly attacked WhatsApp’s use of end-to-end encryption as an aid to criminals, as well as repeatedly attacking e2e encryption itself).

“Because of encryption and because of radicalization, the cost… is heaped on law enforcement agencies,” Wallace said. “I have to have more human surveillance. It’s costing hundreds of millions of pounds. If they continue to be less than co-operative, we should look at things like tax as a way of incentivizing them or compensating for their inaction.

cBN to raise sugar production by 12.5% he Central Bank of Nigeria (CBN)’s anchor borrowers’ programme is billed to improve sugar production in the country by 12.5 per cent this year, New Telegraph has learnt.

However, the country will still rely on 1.6 million tons of sugar from Brazil, Thailand and United States in 2018 to meet local demand. The imports are expected to gulp N201.6 billion ($560 million) as the global price of the commodity is $350 per tons.

According to National Sugar Development Council (NSDC), importers would pay 80 per cent levy, 10 per cent duty for raw sugar, 20 per cent

duty and 85 per cent levy for reRined sugar from January, 2018. Currently, Nigeria is the ninth largest importer of raw sugar in the world. However, with the introduction of CBN’s anchor borrower, the council said importation would go down by 2019.

The anchor borrowers’ programme is a CBN policy aimed at increasing Nigeria’s agricultural production output while at the same time improving capacity utilisation of integrated mills and other related industries.

The programme was initiated by the apex bank to reduce food imports, create more jobs and diversify the nation’s economy. –CB Report

turkey’s economy to grow by 4.8% in next 5 years: fitch

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ISTANBUL

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urkey’s economy is expected to grow by 4.8 percent annually on average in the next Rive years, global ratings agency Fitch Ratings said. In its report titled “Investment and Demographics Key to EM Growth Potential”, Fitch pro-

vided a list of the 10 largest emerging markets in the world, in which Turkey ranked third in its forecast economic growth rate.

The agency said Turkey is set to see continued robust growth in the working-age population in the next Rive years, which supports its GDP growth potential. Fitch said Turkey has seen an impressive rate of capital accumulation per worker but

noted this has been funded externally and is associated with some downside risks.

The country’s strong growth rate “hinges crucially on continued high investment rates, which could be vulnerable to a sustained slowdown in capital inRlows,” the report said.

“Turkey’s estimated potential growth is just below 5 percent, but the assumed growth trend in labor

productivity is predicated entirely on a high investment rate that could be vulnerable to a withdrawal in foreign funding Rlows,” it added.

India came on top among the 10 emerging markets in the report with a potential growth rate of 6.7 percent in the next Rive years. China and Indonesia jointly ranked second, both with a projected potential growth rate of 5.5 percent.

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KPT shipping intelligence report KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours. ALONG SIDE (Bulk Oil Pier) OP-INan Lin Wan D. Petrol Alpine 04/01/18 OP-IIQuetta D. Crude Oil PNSC 05/01/18 OP-III Phoenix L. Naptha Alpine 04/01/18 ALONG SIDE (East Wharves) 5 Tiger Beijing D. Coal Crystal Sea 04/01/18 11/12 Osprey ID. Coke OC-Services 04/01/18 ALONG SIDE(P.I.C.T) 8/9 Wedi India D. L. Cnt. U.M.A 04/01/18 ALONG SIDE(PDWCP): SPAT-3 Gsl Tianjin D. L. Cnt. CMA CGM Pak 04/01/18 Along Side(West Wharves) Berth Vacant. ALONG SIDE (K.I.C.T): 26/27 YM Orchid D. L. Cnt. Inshipping 02/01/18 28/29 Maliako D. L. Cnt.

three ships take berth at port Qasim hree ships, Maipo, Al-Soor-II and Al-Jassasiya carrying Containers, 41,120 tonnes Diesel Oil and 61,736 tonnes LNG were arranged berthing at Qasim International Container Terminal, FOTCO Oil Terminal and Engro Elengy Terminal respectively. Meanwhile Containers vessel CMA CGM Amazon and Edible oil carrier UACC Muharraq also arrived at outer anchorage of PQ during last 24 hours.

Berth occupancy was managed at the port at 59% on Thursday where a total of ten ships namely, Maipo, Alexandra, Era-S, Reem-3 Fareast Honest, Kirri Billi, Al-Jassasiya, White Purl, Horizon and Al-Soor-II were occupied at PQA berths to load/offload Containers, Rice, Bitumen, Coal, Canola seeds, LPG, LNG, Palm oil and Diesel oil during last 24 hours. A cargo volume of 141,341 tone,s comprising 110,121 tonnes import cargo and 31,220 tonnes export cargo inclusive of

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Ports & Shipping

Thursday January 18, 2018

port of portland announces rail service to assist shippers

indonesia officials urge minister to stop destroying illegal fishing boats

NEW YORK

enior government and business officials on urged Indonesia’s fisheries minister to stop blowing up foreign boats caught fishing illegally, saying the policy could hurt diplomatic ties and the fisheries industry. Under the popular minister, Susi Pudjiastuti, Indonesia has destroyed hundreds of foreign illegal vessels since 2014, among them Chinese, Thai and Vietnamese boats, in an effort to protect domestic fish stocks and fishermen. But Vice President Jusuf Kalla said the policy could affect relations with other countries. In the view of the government, it’s enough already,” Kalla said, in comments reported by the daily newspaper Kompas and confirmed by his spokesman.

In 2015, China expressed “serious concern” when one of its fishing vessels was among 41 blown up by Indonesia. The Indonesian Chamber of Commerce complained on Tuesday that the approach and what it termed a lack of focus on constructive policies had damaged the fisheries industry, with exports of fishing products declining. –CB Report

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he Port of Portland has worked to create another new option for moving container freight by way of a railway partnership at Terminal 6. Starting this week, shippers can move their product on a rail shuttle to the Puget Sound ports. The new service, in partnership with BNSF Railway, will move containers between Portland and Seattle/Tacoma, where goods can be loaded onto ocean carriers.

The rail service will operate Rive days a week.

Yesterday’s announcement follows news that Swire Shipping will begin a monthly container call at Terminal 6 this month, offering regional shippers a new opportunity to move their goods overseas. “The rail service will complement the monthly container ship call by giving our local shippers another path to market,” said Curtis Robinhold, Port of Portland executive director.

“We hope to continue building on this momentum and interest at Terminal 6.” The Port has also hired a consultant team to help determine the future role of container shipping in Portland with a sustainable business model for managing and developing the terminal.

The Port engaged an industry leader committee comprised of 22 members with diverse representation including exporters, im-

porters, service providers, carriers, ports, labor (IBEW and ILWU), and legislators with strong shipper interests. The Port, consultant team and committee will report their findings to the Port Commission this month. A Cathay Pacific air freight option at Portland International Airport began operating in 2016 and moves goods such as footwear, apparel, electronics, cherries and seafood to Asia.

golden Visa investment in portugal containerized cargo carried in 3,408 Containers (TEUs), (2,192 TEUs import TEUs imports and 1,216 TEUs exports) was handled during last 24 hours. Two ships, Horizon and Maipo sailed out to sea on Friday morning, while two more ships oil tanker Al Soor-II and Bitumen carrier Reem-3 are expected to sail on same day in the afternoon. A total of five ships, CMA CGM Amazon, Uni Florida, GSL Tianjin, Battersea Park and UACC Muharraq carrying Containers, Phosphoric Acid and Palm oil are expected to take berths at QICT, EVTL and LCT respectively on Friday, while two ships Navios Verano and GSL Tianjin with containers are due to arrive at PQ. –CB Report

LISBON

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t present, investment in real estate and tourism in Portugal is skyrocketing. The demand for acquiring properties is mirroring the surge in tourists visiting the country. The sunny climate and numerous well-known restaurants and beach experiences, combined with a multitude of monuments and a rich history, are helping to create a vibe of excitement in the country. Portugal is proud to be one of the safest countries in the world and one of the bestrated in terms of the hospitality on offer. The Portuguese, having famously travelled the world in the 15th century and interacted with all types of cultures, are used to living in a cosmopolitan environment. It is this backdrop that makes investment opportunities in Portugal all the

more appealing. Investment funds have become the vehicle solution to investment in Portuguese real estate.

Not only do they provide the best structure for tax optimisation, since only 10 percent income tax is required, they also offer numerous opportunities for even small investors to invest in medium to large-scale projects. The Golden Visa Programme is directed at non-EU citi-

zens without citizenship restrictions.

It allows anyone investing more than €350,000 ($414,000) into real estate or Portuguese-qualiRied investment funds to beneRit from a residence permit. All that is required is a minimum stay of just seven days per year.

What’s more, after six years, investors are also eligible for citizenship. The programme was launched at the end of 2012 to attract foreign

capital into real estate and to help renovate city centres in order to create a new dynamic in the market. The market was completely stagnated from 2009 to 2012, but it has gone from strength to strength ever since.

PTGoldenVisa helps make this possible. It’s a one-stop shop that offers full support for individuals applying for the Golden Visa, or for those simply investing in Portugal’s real estate market. Not only do we provide all necessary legal and tax consultancy services, we also offer property management services. We currently hold opportunities in areas such as buy to let, renovation deals to sell, property trading, and property development, while we are also accessing real estate funds in several investment deals. Through opportunities such as Golden Visa, Portugal isn’t just a dream holiday destination it is a dream investment destination too.

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SBP grants special participant status to NCCPL KARACHI: State Bank of Pakistan (SBP) has granted a status to National Clearing Company of Pakistan Limited (NCCPL) as a special participant of PRISM System to settle net position of capital market transactions in PRISM. To mitigate the liquidity / settlement risk, the central bank advised all member banks to maintain adequate funds / liquidity in their current accounts with SBP BSC (Bank) based on their existing and future clearing requirements.

It further said for each business day, two (2) clearing cycles shall be processed.

Thursday January 18, 2018

Business

‘expats’ role in uplift of economic commendable’ ISLAMABAD

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delegation of Overseas Pakistanis Commission (OPC) Punjab, comprising Vice Chairperson Shaheen Khalid Butt, Commissioner Afzaal Bhatti, and DG Syed Javed Iqbal Bokhari called on Advisor to Prime Minister on Finance, Revenue and Economic Affairs Dr Miftah Ismail.They apprised him about enhancement of withholding tax on overseas Pakistanis, discrimination in tax amnesty scheme and other issues faced by expatriate Pakistanis, says a handout issued here. Dr Miftah assured the OPC delegation that relevant

china's yuan ends onshore trade KARACHI

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policies would be reviewed and necessary steps would be taken in the next Riscal year’s budget to provide

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able contribution to the economy of the country through their remittances and the federal government was committed to providing maximum facilities to them.

Dr Miftah also lauded the efforts of the OPC in resolving the issues faced by overseas Pakistanis.

Shaheen Khalid Butt and Afzaal Bhatti also apprised the Advisor to PM of the complaint redress mechanism, saying that the OPC was striving to solve the problems of expatriates through state-of- the-art web portal system. They further said that in a short span of time, the OPC has achieved many milestones. Matters pertaining to heavy taxation in real estate business, particularly affecting the overseas Pakistanis and other issues were also discussed in detail during the meeting.

ISLAMABAD

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he government appears to have slowed down spending on development projects in an effort to rein in the country’s fiscal deficit. The Planning Commission said that as of January 12 the government had disbursed Rs344 billion for the public sector development program (PSDP), or about 34.4 per cent of the total allocation of Rs1,001 billion. During the same period last year, that is until Jan 13, 2017, the disbursements for PSDP had stood at Rs300 billion, or 37.5 per cent of the total allocation of Rs800 billion.

Under its approved disbursement mechanism, the government should have released about 40 per cent of the allocated amount in the first half of the year, or about Rs400bn. The disbursements included a payment of Rs30bn made in the first quarter of the financial year for community development schemes on the recommendations of parliamentarians codenamed as the Prime Minister’s Global SDGs Achievement Program and Rs9.2bn for the PM’s Youth Program. The PM’s Global SDGs Achievement Program is made up of small community uplift schemes formulated on the recommendations of lawmakers, ostensibly for improving the living standards of citizens through road, sewerage and water supply projects, etc.

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SBp voted as best central bank for promotion islamic banking

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hina's yuan rose against the dollar to its highest in more than two years on Wednesday, as the central bank set firmer guidance amid broad dollar weakness and heavier corporate dollar selling. The onshore yuan opened at 6.4300 per dollar and changed hands at 6.4325 by the 0830 GMT domestic close, the strongest since Dec. 9, 2015. The Chinese currency has risen nearly 1.2 percent against the dollar this year, after a roughly 6.8 percent gain during 2017.

maximum relief to the overseas Pakistanis. He further said that overseas Pakistanis were making valu-

govt slows down spending on uplift projects

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KARACHI

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he State Bank of Pakistan’s efforts has been lauded globally and the SBP has voted as the Best Central Bank for Promoting Islamic Finance. An announcement to this effect was made in a statement issued by the State Bank of Pakistan (SBP) here. It said that the SBP has been voted as the Best Central Bank in Promoting Islamic Finance by a poll conducted by International Finance News (IFN), an arm of Red

Money Agency, Malaysia. The SBP, it was further pointed out, had also won this award in 2015.

The statement pointed out that in 2016, Pakistan was awarded Global Islamic Finance Award (Advocacy Award) by Edbiz Consulting Limited, UK. This recognizes the dedication and commitment of State Bank of Pakistan over the years for laying sound foundations for sustainable growth of Islamic Rinance industry in the country.

Islamic banking industry has shown signiRicant growth rate since its relaunch in 2002; by end September 2017, share of Islamic banking stood

at 11.9 percent in terms of assets while in terms of deposits its share is 13.7 percent with a network of 2,368 branches across the country. ‘The SBP has demonstrated impressive dedication toward rebuilding Pakistan’s Islamic banking sector, providing strong support and building deep foundations on which the industry can now stand’, stated IFN while announcing the poll results. Further, signiRicant measures to support Islamic banking and Rinance during 2017 including issuance of detailed guidelines on conversion from a conventional to an Islamic bank.

uS company to invest in pakistan in wake of cpec ISLAMABAD

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leading US based company has shown interest for investment in Pakistan in the wake of opportunities offered by the China-Pakistan Economic Corridor (CPEC).

A high level eight-member delegation of the US based international company, World Tech-

nological & Trade, Inc (WTTI), led by its Chairman, Dr. Robert Y.NI visited Intellectual Property Organization (IPO-Pakistan).

Muhammad Irfan Tarar, Director General, IPO-Pakistan welcomed the delegation and briefed them about Intellectual Property Rights (IPRs) protection in Pakistan, said a press release issued

by IPO on Wednesday.

Dr Robert said his company would like to invest in the fields

of Mining, Information Technology, Robotics and Pharmaceuticals and use their expertise in these areas. He termed the meeting as a very important step towards establishing of business in Pakistan as their business would require safeguarding of IPRs. Tab Ballantyne, executive vice president of the company appreciated the business environment of Pakistan and stated that WTTI would like to take maximum

benefit from this businessfriendly environment. He urged rest of the world to stop portraying negative propaganda about Pakistan as the business environment in Pakistan had great potentials to attract foreign investment.

Director General, Trade Policy, Nauman Aslam Sheikh informed the delegation about latest trade policy initiatives of the Government of Pakistan and said that

the new policies are more business and investment friendly.

Meesaq Arif, Executive Director, briefed the meeting about the working of IPO-Pakistan and said that Pakistan has been removed from the US priority watch list. Moreover, as per World Economic Forum’s Global Competitiveness Report, Pakistan has improved twelve points in the index from 109 in 2016-17 to 97 in 2017-18.

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World food prices fall 3.3% ROME: World food prices fell in December from the month before, as dairy, vegetable oils and sugar values declined sharply, the United Nations food agency said on Thursday.

The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 169.8 points in December, down 3.3 per cent from November. In 2017 the index averaged 174.6 points, up 8.2 per cent from 2016, reaching its highest annual value since 2014 although food on international markets was still 24 per cent cheaper than in 2011.

Shc suspends impugned judgment of chairman etpB against kcci

Thursday January 18, 2018

Chambers

icci felicitates newly elected office bears of twA Super Market

KARACHI

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he Honorable Sindh High Court (SHC) has suspended the impugned judgment passed by Chairman Evacuee Trust Property Board (ETPB), Siddique ul Farooq in Constitution Petition No. D202 of 2018 filed by KCCI against ETPB’s judgment issued on 25.11.2017 in which it was held that KCCI Building is an Evacuee Trust Property. While suspending the judgment passed by Chairman ETPB, the Honorable High Court has passed orders for issuance of notices to all Respondents including tenants who were joined as party by Chairman ETPB for next date of hearing which has been fixed for January 23, 2018. Meanwhile, Chairman Businessmen Group & former president

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Karachi Chamber Siraj Kassam Teli and President KCCI Muffasar Atta Malik, while expressing satisfaction over the abovementioned SHC’s order, said that a false and bogus Reference about the ownership of KCCI’s Building was filed by the Deputy Administrator ETPB in connivance with tenants which was heard by Chairman ETPB, who grossly misused the powers, continued to favor the illegal occupants during case proceedings being the members of same political party, PML-N, and issued ETPB’s judgment against KCCI, which was immediately challenged at the Honorable High Court of Sindh. They said that some of the offices, which are Karachi Chamber’s property, remain illegally occupied since many decades. These illegal occupants have expanded from just two to three rooms to 12, 15 and even 17 rooms by illegally carrying out deals with those individuals who vacated their offices during the last 40 years.

ISLAMABAD

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delegation of Islamabad Chamber of Commerce and Industry led by its President Sheikh Amir Waheed visited F-6, Islamabad and congratulated the newly elected President Shehzad Shabbir Abbasi, Muhammad Hussain General Secretary, Ahmed Mughal and other ofRice bearers of Traders Welfare Association of Super Market. Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that Super Market was located in a posh area of Islamabad where foreign diplomats, foreign nationals and other high proRile dignitaries frequently visited for shopping. He stressed upon the CDA to focus on resolving the key issues of Super Market including provision of Riltration plant, restoration of all street lights and redesigning of car parking for expansion as well as its re-carpeting to facilitate the visitors. He assured the newly elected ofRice bearers of TWA Super Market that

ICCI would fully cooperate with the Association in its endeavors aimed at better development of the market and bringing it at par with well-developed markets of the region.

Muhammad Naveed Senior Vice President, Nisar Mirza Vice President, Islamabad Chamber of Commerce & Industry and Khalid Javed Chairman Founder Group also congratulated the newly elected ofRice bearers of Super Market TWA. They

said the 2nd consecutive victory of the ofRice bearers was proved of the fact that the traders of the area were satisRied with their good performance. They hoped that the newly elected ofRice bearers would render more effective services for the traders of the area and for the development of Super Market on modern lines to make it a role model for other markets. In his welcome address, Muhammad Hussain, General

Lcci for effective forest management system LAHORE

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akistan’s poor international ranking in under forest area is causing massive economic and environmental damage to the country therefore this should be taken very seriously. Government would have to make forest management system effective as importance of forests cannot be underestimated.

In a statement, the LCCI President Malik Tahir Javaid and Vice President Zeshan Khalil said that Pakistan ranked 79 with around 1% area under forest while Russia andIndia stand Rirst and 10th position respectively with over 49% and 23%. They said that deforestation in Pakistan seems small but actually is a big issue as it not only leaving adverse impact on the environ-

ment but is also hitting the economy hard. Government, private sector and all segments of society should join hands to tackle the issue of shrinking forests in Pakistan.

They said that forests are not only safeguarding biodiversity and acting as a shield against climate changes but are also equally important for the economic safety of the country.

They said that wood production, processing and the pulp & paper industries accounts over one percent of the global gross domestic product. The LCCI ofRice-bearers said that forests also resist against devastating Rloods besides being a major source of fresh water, medicine, shelter and employment for the people.

They said that forestation is one of the most neglected areas and there is a dire need to make joint efforts to protect and enhance forests through public-private partnership. “We have

to recognize that forestry is an integral feature of sustainable economic development. It should be the focus policy corridors for generating new economic opportunities”, the LCCI ofRice-bearers said adding that by developing forestry as a commercially viable sector, the country can make the agriculture sector stable and valuable for economy. They said that considering the available facts and Rigures, the potential for new investment in forestry is very much signiRicant. Currently, local industry such as paper and furniture is experiencing serious supply-shocks which are not only impeding their further growth and but also slashing their international competitiveness.

They said that government should make long-term arrangements for attracting large investment and also provide incentives for advanced forest management technologies.

Secretary, Traders Welfare Association, Super Market, Islamabad thanked the ICCI delegation for visiting their market to congratulate the newly elected ofRice bearers, which was a source of encouragement for them. Highlighting the key issues of Super Market, he said there was no Riltration plant in the market due to which the traders and residents of the area were deprived of clean drinking water.

As oil hits $70, warning lights flash up in Asia il prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning – the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude oil futures, the international benchmark for oil prices, have risen by more than 50 percent since mid-2017 and hit $70 per barrel this week for the first since December 2014. Average Asian physical crude oil prices also moved over $70 per barrel in January. “A healthy (price) correction could be on the cards,” said Stephen Innes, head of trading for Asia/Pacific at futures brokerage Oanda in Singapore. –CB Report

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Customs Faisalabad impounds truck loaded with coriander seeds FAISALABAD: The Customs Anti-Smuggling Organization (ASO) Faisalabad has seized the contraband coriander seeds worth Rs990000 involving duties and taxes amounting to Rs367274 besides impounding a Mazda truck valued at Rs1.5million.

Assistant Collector Shah Samand Hamadani received an actionable tipoff that a huge quantity of coriander seeds is being smuggled. He immediately constituted a team which intercepted the truck bearing registration No: FDK-4422 under Section 157 Customs Act-1969.

Thursday, January 18, 2018

CUSTOMS BULLETIN

Dry port peshawar goes profitable by earning Rs426.89 million PESHAWAR iRfAN BAhADuR

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he Dry Port Peshawar has got Rs3510.08million of revenue collection up to December of current Financial Year 2017-18 which is Rs426.89million more than the revenue collection in December of previous FY 2016-17.

The record showed on Monday that the Dry Port Peshawar collected Customs Duty of Rs1444.05million up to December of current FY 201718 in which the Dry Port Peshawar did Rs367million Redemption Duty and generated Rs0.3million by selling of miscellaneous goods.

The Dry Port Peshawar received Rs1276.27million revenue under the head of Sales Tax in which Rs202.58million was done as ST on VM com imports in December of current FY 2017-18.

The Dry Port Peshawar earned Rs561.51million of Withholding Tax in December of current FY2017-18 including Rs26.46million collected as Federal Excise Duty by December of current FY. The customs staff posted at the Dry Port Peshawar has been busy in two shifts to facilitate the consignments’ clearance of the importers

after strict measures were ordered by the Federal Board of Revenue.

The Dry Port Peshawar clears

goods weighed million of tons each month for which special duty hours have been announced at the

DPP. Collector Customs Gull Rahman at Customs House Peshawar also lauded the efforts of the offi-

cials of the Dry Port Peshawar for making such substantial increase in the revenue collection.

‘Sialkot exporters set unique example of self help by establishing SiAL’ SIALKOT

ZAfAR MALik

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rime Minister Shahid Khaqan Abbasi inaugurated the newly established building of international terminal at Sialkot international airport during a special ceremony.

Sialkot exporters have established this new international terminal building on self help basis

by spending Rs.1.12 billion for providing the world class aviation facilities to the people belonging to this region. Sialkot based Federal Minister for Foreign Affairs Khawaja Muhammad Asif , Chairman Sialkot International Airport Limited (SIAL) Khawar Anwar Khawaja and CEO of SIAL Maj-Gen Mir Haider Ali Khan received the Prime Minister upon PM’s landing at Sialkot international airport Rlanked by Federal Interior Minister Ch. Ahsan Iqbal and Aviation Advisor to PM Sardar Mehtab Ahmed here today.

While addressing the manage-

ment and directors of the Sialkot International Airport Limited (SIAL) here, the Prime Minister Shahid Khaqan Abbasi highly hailed the Sialkot exporters’ spirit of self help saying that the Sialkot exporters have set a unique example of self help by establishing the mega project of establishing the Sialkot international airport on self help basis, advising others to replicate it.

PM termed the Sialkot airport project as the most successful project of the Pakistan and even in the world. He assured Sialkot exporters about his full coopera-

tion for resolving the problems of the Sialkot international airport.

He said that the Sialkot airport was the first ever green field airport which has met with great success. He said that Sialkot airport project was mile stone towards the national economical stability. He wished that such kind of project international airport might also be established at Fasialabad by the local business community as well.

PM termed the Sialkot international airport project as a role model for everyone in Pakistan and even in the world. He said

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

that the government would encourage the private sector at every level for setting up the private airports in the country.

“Everyone must follow the Sialkot and Sialkot exporters for ensuring the socio-economic and human development in Pakistan on self help basis as the Sialkot has become a role model of self help for ever in this regard:, narrated the PM. PM added that the PML-N government has successfully completed the project of Nandipur Power Plant which was now successfully producing 425 megawatts electricity.