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pAkIStAN’S FIRSt INDeptH NewSpApeR oN cUStomS
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Karachi, Wed January 24, 2018
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he customs department has embarked upon a policy of facilitating business community of the country by providing them maximum facilities besides generating revenue for the ofUicial kitty said by Collector Customs Gull Rahman. The Model Customs Collectorate Peshawar has become a progressing organization where no one can Uleece the traders in name of documenta-
tion, che Collector said this while giving interview to Customs Today. He apprised participants that Pakistan Customs has made phenomenal progress in the use of technology in recent years. The updated website of customs department also have all relevant information which has facilitated all stakeholders including general public. We have installed digital cameras at various customs stations and ofUices for better monitoring and enforcement, he said and added that several other projects like the digitization of ofUice record and an automated
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Human Resource Management System has been also completed. The Collector Customs added that for almost 20 years earlier in customs department Peshawar there was only one collector for whole KP, FATA and Gilgit Baltistan, but now there are around 1000 ofUicials in the whole Khyber Pakhtunkhwa beside Collector for Gilgit Customs Station. The collector customs further said that the work sharing procedure had been enhanced in the department and the WebBOC service also has been established at Torkham Customs Station.
Truck loaded with9990kgof Indiancumin impounded by Customs Islamabad
DG Valuation Surriya to revise VR No 764/2015 on February 13
‘ASO adopts zero tolerance against every kind of smuggling’
NAB files supplementary reference against Sharif family
Quetta customs seizes smuggled goods, NDP vehicles worth Rs100 million
ASO took into possession Indian origin 9990kg of smuggling cumin | See pAge 02 |
DG Valuation decided to revise the Valuation Ruling No: 764/2015 on Feb13 | See pAge 03 |
ASOofficialshavebeeninstructedtoadopt zerotoleranceagainsttheillegallyimported | See pAge 04 |
NAB on filed a supplementary reference againsttheShariffamilyinthependingLondon | See pAge 14 |
MCC Quetta has seized smuggled goods including NDP vehicles worth Rs100 m | See pAge 16 |
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IHC relists cases for hearing involving DG I&I, ATIR Wednesday, January 24, 2018
ISLAMABAD: Islamabad High Court relisted cases for hearing involving Directorate General of Intelligence and Investigation, and Appellate Tribunal Inland Revenue. IHC division bench comprising Justice Athar Minallah and Justice Miangul Hassan relisted the cases including the one filed by M/s Awan CNG Re-Filling Corporation Private Limited. The company had filed cases against Model Collectorate of Customs.
Islamabad
truck loaded with 9990kg of Indian cumin impounded by customs Islamabad
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ustoms Appellate Tribunal Member, Ziauddin Wazir reserved decision of M/s Chief Autos’ customs matter after hearing concluding arguments from sides. The bench on the last hearing had issued directives to parties to finalize arguments in couple of customs matters. The tribunal was hearing cases filed against Model Collectorate of Customs. The bench dated in office hearing on another customs case filed by M/s Fazal Razaq. M/s Fazal Razzaq had contested a decision announced by Directorate General of Intelligence and Investigation, Islamabad. In recent weeks Ziauddin Wazir had also heard a number of along with Justice (r) Malik Manzoor Hussain in recent weeks. The bench had heard M/s National Highway Authority’s case which had challenged a decision announced by MCC’s collector customs before the tribunal. The bench had reserved decisions of M/s Waseem Autos and M/s Nisar Traders cases. M/s Waseem Autos and M/s Nisar Traders had filed cases against Model Collectorate of Customs and Directorate General of Intelligence and Investigations, Islamabad.
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he Anti-Smuggling Organization (ASO) Islamabad took into possession Indian origin 9990kg of smuggling cumin along with an offending vehicle. According to details explained by Majad Hussain Gadd, Assistant Collector ASO, Model Customs Collectorate (MCC) Islamabad, that, on a tip-off, Collector MCC Islamabad Dr. Arslan formed a squad led by Customs Inspector Superintendent Sohail Kureishi who set up a picket near Kashmir Chowk Islamabad and intercepted a Bedford truck bearing registration No: AJKC-324. The ASO squad asked the possessor of cumin named KPL India to provide the legal documents of the import of the item but owner of the goods failed to do so. Assistant Collector said that, after initial investigation, the squad seized 333 bags of Indian Zeera loaded on the truck. The total value of the impounded Zeera is estimated Rs2.7million. The ASO also took into possession the offending truck that facilitated the smugglers. The value of the offending truck is Rs0.8million. Assistant Collector said the ASO impounded the item and truck under the Smuggling Act and the case was forwarded to the I&P Department for further details. Meanwhile, The ASO Islamabad
customs tribunal reserves verdict of case filed by m/s chief Autos
took into possession fresh Indian origin bananas DK-Tiger brand along with an offending vehicle worth Rs1.122million and sold them in an auction just after two hours of seizure due to its perishable status. According to details explained by Assistant Collector Majid Hussain Gadd that, on a tip-off given by Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, the ASO intercepted a Mazda truck bearing reg-
istration No: MNN-2886 coming from Azad Jummu Kashmir (AJK). The ASO staff asked the possessors to show the documents as legal proof of the loaded bananas but they failed to provide anything lawful. In response to the arguments of the possessors of bananas, the ASO staff told them that they must have paid duties and taxes before crossing the border whereas the possessors were unable to provide Goods Declaration
(GD) so the ASO staff impounded the bananas along with the offending vehicle and shifted the fruit and vehicle to the SWH. The item was brought to the state warehouse and auctioned off against Rs0.8million. The impounded truck was auctioned after the completion of other required departmental formalities. The value of the Mazda truck was appraised at Rs0.8million. An FIR has been lodged against the tax evaders.
IHc seeks record of customs cases involving m/s ptcL & FBR
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ustice Aamer Farooq of Islamabad High Court (IHC) directed parties to submit record of customs matters involving M/s Pakistan Telecom Mobile Limited and Federal Board of Revenues Uield ofUices. The appellant had challenged the act of recovery by commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad.
The bench had earlier reserved decision of case Uiled by M/s Hasas Engineering and Construction Company Private Limited after hearing arguments in the case with submission of record. ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty (FED). M/s Hasas Engineering and Construction Company Private Limited had prayed the court that FBR
ofUice had issued a recovery notice to the company which did not hold lawful grounds. The appellant had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings. M/s Hasas Engineering and Construction Company Private Limited had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not address grievances of the appellant.
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SHC orders Customs to release consignment of toilet soap KARACHI: An appellate bench of Sindh High Court (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan has ordered release of a consignment of toilet soap while hearing a constitutional petition challenging enhancement of value by Director General, Valuation, Pakistan Customs. Earlier a lawyer from Franklin Law Associates appearing for the petitioner company Global Trade Links submitted that a custom’s appellate bench has reserved judgment in a host of identical petitions which questioned the power of enhancement by DG Valuation assessed in violation of section 25-D of the Customs Act 1969.
pakistan customs urged to release of consignment in different petitions
Wednesday January 24, 2018
Karachi
Dg Valuation Surriya to revise VR No 764/2015 on February 13
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m B RANA
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n appellate bench of Sindh High Court (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan has ordered issuance of notices to respondent custom officials in a petition filed by United Tiles. The petitioner challenged the denial of exemption to the importers under SRO 497 of 2009. The bench after hearing the counsel from Franklin Law Associates after hearing initial arguments ordered issuance of notices to respondents for Jan. The same bench also ordered issuance of notices for Jan 18 in a petition filed by Hill Weaving Factory which imported a consignment of artificial coated leather.
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Appraisment east detects tax evasion by Shafi enterprises KARACHI
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he Model Customs Collectorate, Appraisment East, has unearthed a tax evasion of Rs3.58million in the clearance of different types of scrape imported by M/s Shafi Enterprises. Source told Customs Today that Collector Appraisement East directed the R&D Section to verify the post-clearance consignment of the importer M/s Shafi Enterprises. During the scrutiny, it was found that the importer willfully used the Green Channel in the clearance of the consignment of different types of scrape and caused the national exchequer a loss of Rs3.58million in terms of duties and taxes. The sources further told CT that a recovery notice has been sent to the importer before seven days.
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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 764/2015 on February 13, 2018, it is learnt. According to the details, Director General Surriya Butt has said that the department was reviewing suggestions from importers to set new prices of cotton fabrics. 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 markets. Sources said that a petition was submitted by the importers with Customs Valuation in which change in prices of cotton fabrics was requested. Sources told that Valuation Ruling No: 764/2015 was issued on 7th October 2015. A meeting was held with the stakeholders on 9th 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, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Ruling No: 746/2015 on February 19, 2018, it is learnt. Talking with Customs Today Surriya Butt has said that
the department was reviewing suggestions from various importers to set new prices of press fasteners snap fasteners, press studs and parts. 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 prices Press fasteners Snap Fasteners, Press
Sources told that Valuation Ruling No: 764/2015 was issued on 7th october 2015. A meeting was held with the stakeholders on January 2018
Adjudication-II recovers Rs 3.64m from Bela g & co
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ollector Customs Adjudication-II Tahir Qureshi has said that cases of more than 13 defaulters companies are under observation. Source told Customs Today that the Customs Adjudication-II served a final notice on a defaulter company named M/s Shahmeer Handicrafts and recovered Rs 3.64 million from M/s
Bela G & Company Karachi. M/s Shameer Handicrafts was involved in the tax evasion. The company imported wooden pieces on August 17, 2017 and used the wrong PCT heading. After a careful investigation, the Customs Adjudication-II issued a final notice to the company to clear the outstanding amount of Rs 4 million. Source said that another company M/s Bela G & company Karachi got cleared a consignment of some brass show
piece on November 17 and evaded tax amount of Rs 3.64 million. After the investigation, Customs Adjudication-II served a show cause notice on the company on December 11, but it failed to clear the outstanding tax amount. Collector Customs Adjudication-II issued a final notice to the company on December 24, 2017. After receiving the notice, the company deposited Rs 3.64 million in favor of the Customs department.
studs and parts was requested. Sources said that Valuation Ruling No: 746/2015 was issued on June 12, 2015. A meeting was held with the stakeholders on 5 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.
pak rupee depreciates against dollar he Pakistani rupee Monday depreciated against dollar both in open market and interbank. As per the local money market, the dollar gained 10 paisas in open market for buying at 112.10 and for selling at 112.40, while it added five paisas in interbank for buying at 110.35 and for selling at 110.55.
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Customs Intelligence submits investigation challan of alleged smuggler Wednesday January 24, 2018
Lahore
LAHORE: The Special Federal Court of Customs Taxation and Anti-Smuggling has received an investigation challan of the accused held in the smuggling of cigarettes, cloths, mobile phones and some other items as well in September. Earlier, the court had directed the investigation team of the customs to submit the investigation challan in the next hearing. An accused Muhammad Hassan was apprehended by the customs intelligence authorities from Lahore. The customs intelligence authorities conducted an operation on intelligence based information at Band Road Lahore and arrested him. The authorities recovered smuggling and non-duty-paid cloths, mobile phones, cigarettes, Gutkas and fireworks from the accused.
tribunal directs Dg Valuation to decide appeal of m/s Bicycle & Bicycle LAHORE
SAJID NAwAZ
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he Customs Appellate Tribunal has remanded back appeal Uiled by M/s Bicycle & Bicycle Lahore against director valuation Karachi through, Directorate General of Customs Valuation, Customs House Lahore. Justice ® Malik Manzoor Hussain, Chairman/ Member Judicial heard the arguments from both sides and decided the case with remarks that the impugned order is set aside with orders to the director customs valuation Karachi to hear the stance of the appellant and decide the case within 30 days. According to reports, the M/s Bicycle & Bicycles Lahore was imported parts of bicycle and mis-de-
NAB arrests former etpB official over financial irregularities he National Accountability Bureau (NAB) has arrested a former officer of the Evacuee Trust Property Board (ETPB) for her alleged involvement in financial irregularities. According to a spokesman for the NAB, the accused remained posted as deputy secretary of ETPB during the PPP government and was involved in issuance of allotment letters of 451 plots. The NAB Lahore had arrested ETPB vice chairman Chaudhry Riaz Ahmad a few days ago for allegedly causing a loss of Rs1.2 billion to the national exchequer during the year 2008 to 2012. The NAB will produce the accused before an accountability court on Monday to get their physical remand. –CB Report
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clared the value of imported goods. During veriUication, the owners of the goods failed to produce documents regarding the lawful import of the bicycle parts. Consequently, the vehicle was taken into possession under the Customs Act-1969 for further veriUication. After that, the adjudication authority heard the case and passed the order that the owner of the vehicle is liable to pay the duties and taxes as per show cause notice. Being aggrieved from the order, an appeal was Uiled in the Customs Appellate Tribunal on the grounds that earlier order passed by the adjudication authority is not according to the law and passed without hearing arguments from appellant and liable to be set aside. After hearing the arguments, Customs Appellate Tribunal has remanded back the case to Directorate General Customs Valuation.
‘ASo adopts zero tolerance against every kind of smuggling’ LAHORE
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nti- Smuggling Organization (ASO) ofUicials have been instructed to adopt zero tolerance against the illegally imported vehicles and items inUlicting heavy losses to the national exchequer. ASO of Customs Collectorate of Preventive has impounding non-duty paid vehicles, goods and articles worth Rs620 million during the Uirst six months of Uinancial year 2017-18 against Rs154 million during the same period of the last Uinancial year 2016-17. Talking to Customs Today, Customs Preventive Deputy Collector of Customs Muhammad Moazzam Raza (BS-18) said that the ASO has been reorganized by posting ofUicers of good professional reputation. The Deputy collector said that
the Customs Collectorate ASO, under the supervision of Collector Customs Faiz Ahmed, raided gowdown and intercepted 47 illegally imported vehicles worth Rs81 million and impounded contraband goods worth Rs535 million, including mobile phones, cloth, cigarettes, Gutka, liquor, electronic
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item and other miscellaneous goods. The Collectorate registered a solid growth of 314 percent in term of value of goods and vehicles while 23 percent growth in terms of cases during the six month of financial year 2017-18 against the same period last financial year, he said.
Secp rationalizes licensing regime for SBp releases Q1 report for FY18 securities brokers to promote business tate Bank of Pakistan (SBP) has water availability, healthy fertilizer
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he Securities and Exchange Commission of Pakistan (SECP) has rationalized licensing regime for securities brokers with an objective to reduce regulatory burden and to promote ease of doing business. The Commission has approved that a single license would be issued to a securities broker. A licensed securities broker would not require all other mandatory licenses including futures broker, securities advisor, futures advisor and ac-
credited representative. As per new simpliUied procedure for annual renewal, a security broker will only required to provide recommendation from the Pakistan Stock Exchange (PSX) along with an undertaking from the securities broker and deposit of regulatory fee. The SECP has also approved a single cut-off date concept for expiry of licenses for entire brokerage industry. This is to facilitate the brokerage industry as well as the front line regulator i.e. PSX. –CB Report
released its First Quarterly Report for FY18 on the State of Pakistan’s Economy. According to the Report, preliminary data on key macroeconomic indicators suggest that growth momentum remained strong in the Uirst quarter of current Uiscal year. Several coincident indicators point to a further strengthening of aggregate supply and demand in the economy. According to the report, with the exception of cotton, other major kharif crops achieved or surpassed the FY18 targets. This improvement is supported by sufUicient
off take and an encouraging increase in agricultural credit disbursements. The large-scale manufacturing also experienced a 10 percent high growth during Q1-FY18 — the highest quarterly growth since FY09. The performance was encouraging as all sectors, barring fertilizer, contributed positively. This broad- based growth can be attributed to: (i) better energy availability, (ii) improved security situation, and (iii) rising consumer demand on the back of higher purchasing power and access to affordable credit facilities. –CB Report
FBR revises valuation of immovable property to remove anomalies
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ederal Board of Revenue (FBR) said on Monday that the valuation of immovable properties have been revised downward to remove anomalies on complaints from stakeholders. The FBR clariUied downward revision of real estate
valuation for some areas. In an ofUicial statement, FBR has asserted that there is no deviation or reversal of the policy to revise the FBR rates in phases and make them equal to the market rate in a reasonable period. The revision of rates in six cities is meant only to remove the anomalies in the existing valuation tables. FBR rates for immovable properties were notiUied in August
2016. Before notifying the rates, the fair market value of all the areas was determined. Thereafter, the FBR rates were Uixed after consultation with the stake holders. The overall average of FBR rates were Uixed at a certain percentage of the fair market value with the intention to take the FBR rates equal to the fair market value gradually over a reasonable period of time. Various representa-
tions/complaints were received regarding anomalies in valuation tables of FBR. It was reported that FBR rates in some areas are higher than the approximate overall average percentage of the fair market value and in some areas even higher than 100% of the fair market value. In this regard, FBR also held various meetings with the stakeholders to remove the anomalies.
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he Federal Board of Revenue (FBR) has not granted any speciUic tax exemptions to foreigners, including Chinese companies under China Pakistan Economic Corridor (CPEC). Taxes imposed on imports and exports by Chinese industrialists are the same as for foreigners from other countries. Certain exemptions in customs duty, sales tax and income tax are available for power generation sector, including coal, wind, hydel energy projects which are also not speciUic to the Chinese companies and could be availed by every person engaged in the construction of such power generation projects “However, a number of exemptions from duties and taxes have been granted to Chinese companies engaged in the execution of CPEC projects including Income Tax exemption to China Overseas Ports Holding Company Limited, China Overseas Ports Holding Company Pakistan (Private) Limited Gawadar International Terminal Limited, Gawadar Marine Services Limited and Gawadar Free Zone Company Limited from Gawadar Port operations for a period of twenty-three years, with effect from the sixth day of February, 2007” sources at the FBR told Customs Today. Likewise, sources said that exemption from customs duty, sales tax and federal excise duty (FED) on import of plant, machinery and equipment had been provided to the said companies. Exemption of interest income/proUit on debt derived by any foreign
lender any local bank having more than 75% shareholding of the Government or the State Bank of Pakistan, under a Uinancing agreement with the China Overseas Ports Holding Company Limited, for a period of twenty three years with effect from the Uirst day of July, 2016. Similarly, the sources said that income tax exemption for income derived by China Overseas Ports® Holding Company Limited being dividend received from China Overseas Ports Holding Company Pakistan (Private) Limited, Gwadar International Terminal Limited Gwadar Marine Services Limited and Gwadar Free Zone Company Limited for a period of twenty-three years with effect from the Uirst day of July, 2016. 22 “Exemption
from minimum tax on turnover, is available to China® Overseas Ports Holding Company Limited, China Overseas Ports Holding Company Pakistan (Private) Limited, Gwadar International Terminal Limited, Gwadar Marine Services Limited and Gwadar Free Zone Company Limited for a period of twenty three years, with effect from the sixth day of February, 2007” the sources added. Exemption from withholding tax of dividend is available to China” the source added saying that Overseas Ports Holding Company Limited, China Overseas Ports Holding Company Pakistan (Private) Limited, Gwadar International Terminal Limited, Gwadar Marine Services Limited and Gwadar Free Zone Company Limited for a period of twenty three years. An exemption from customs duty, sales tax and withholding tax under section 148 of the Income Tax Ordinance, 2001 has been provided on import by M/s China State Construction Engineering Corporation Ltd. (M/s CSCEC); and M/s China Communication Construction Company (M/s CCCC) on plant, machinery and equipment including dumpers and special purposes motor vehicles for construction of ax t Sukkur-Multan section of e m at inco y h Karachi-Peshawar Motort b d d l e o v st deri e way project and Karakom S o u rc e o nc lding rum Highway (KKH) n for i o o H i t ® p s port exem d s Phase-II (Thakot to n a e e s d vi over ing di Havellian Section) of e b c hina d e mit CPEC project respecerseas any Li ina o v h c comp n tively” the sources added. m f ro akista
ed pany p re c e i v g com n i d l o H ited ports e) Lim t a v i r (p
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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
Another amnesty scheme
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ccording to newspaper reports, the prime minister is weighing options to launch an amnesty scheme for the owners of the offshore companies. The step shows how the government is trying to stabilize financial affairs and bring back the black money to Pakistan from abroad. The prime minister is on the forefront to offer an amnesty scheme by persuading the well-to-do citizens to declare their assets in foreign countries. On another note, frequent changes in the rules and regulations have marred the shape of the whole taxation system. The government has discussed the issue on several occasions, but failed to reduce tax rates which could lead to the broadening of the tax base. However, the policymakers have so far failed to address fiscal challenges despite taking loans and grants from every external and internal source. The political government is giving knee-jerking response to the opposition parties which have launched a protest movement when budget for the next financial year is under process and the general elections are at hand. When it comes to the preparation of laws and schemes, it appears no one will be able to indulge in corruption, but every legal code fails at the implementation stage. Now the prime minister wants to introduce another amnesty scheme to allow Pakistanis to declare their assets stashed in foreign banks. But there is a dire need to keep the house in order before launching such a venture. The tax-to-GDP ratio is the lowest in Pakistan as compared to other countries in the region, but tax rates are the highest than any other country. As a result, citizens are forced to pay tax on everything indirectly. There is a need to bring wealthy individuals into the tax net. Unless the government machinery is rid of the black sheep, no reform programme can change the system. There are no two opinions on the sincerity of the prime minister with regard to the amnesty scheme, but the government should also prepare the ground to attract not only local but also foreign investment. Keeping the capital simply in banks is not a business, but wastage of time and money. According to Dr Ishrat Hussain, the former State Bank governor, Indonesia materialised up to $40 billion by offering its citizens an amnesty scheme, but Hussain should understand this is Pakistan where the government itself gets involved in violates the rules of law.
Loss of national wealth A
LAHORE
DR AFtAB AFZAL
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ccording to news reports, Pakistan has lost Reko Diq mining case in international courts and is facing $11.43 billion in damages, thanks to corruption and inefficiency of the successive governments in Balochistan. The provincial governments frequently changed the agreements of ownership from one company to another from 1998 to 2006 allegedly in violation of Chagai Hills Joint Venture Exploration Agreement. This is the case of a project which is one of the biggest assets of Balochistan. It is yet to be de-
cided what had prompted the provincial government to sign this agreement in haste, mortgaging the national wealth to a foreign company. Who permitted the government to accept the hostile conditions and illadvised sections and clauses of the contract in the first place? In the absence of an accountability process, the culprits in the case are walking free and the nation has to pay billions of dollars from the national wealth. There is no doubt in the notion that successive governments in Balochistan mishandled the case and those who are responsible for the mess have no tinge of conscience in them. A point to ponder is that Pak-
istan has so far lost every case in the in International Court of Justice and other world forums. The Tethyan Copper Company Uiled a suit for international arbitration with International Court in 2012 for the Settlement of Investment Disputes of the World Bank when the provincial government of the time had rejected a request from the company to lease the landmine. During the proceedings, the case had been decided against Pakistan for breaching the Bilateral Investment Treaty of 1998 between Pakistan and Australia. The losing of case in the international court means Pakistan has to offer its gold to the foreign company free of cost. The case is also a clas-
sic example in which multi-national companies are appearing as the neo-colonialists in this modern age. The companies have taken the role of East India Company and the likes in this era of science and technology and free will. A question still remains that who should be held responsible for the national losses. The companies are occupying resources of the developing nations and the international courts are deciding in favour of corporate sector. In the home front, the central and the provincial government should bring the ofUicials responsible for the losses to book and put strict conditions on the company in line with the law and constitution of Pakistan. Enough is enough.
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Customs Islamabad exhibits less achievement than expected in 12 days ISLAMABAD: The MCC Islamabad showed underperformance under the head of CD during first 12 days of January FY17-18 against an assigned proportional target under the same head as well as revenue collection under CD during the same period of corresponding period. According to details given by official sources of the Model Customs Collectorate (MCC) Islamabad that, durig above said period, the MCC Islamabad earned Rs211.33million of Customs Duty (CD) while it was allocated a revenue collection target in amount of Rs215.76million. The MCC Islamabad generated Rs249.20million under the same head during first 12 days of previous January FY 16-17. The sources said that, during above said period, the MCC Islamabad showed 34.76% average of achievement against an earmarked revenue collection target for the month of January FY17-18.
contraband electronic & cosmetic articles seized by customs Intelligence Quetta
Wednesday January 24, 2018
National
Auction cell fetches Rs40.639m by auctioning off smuggled vehicles, items
ISLAMABAD
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delegation of International Federation of Freight Forwarders Association (FIATA) headed by its President Babar Badat, called on Prime Minister Shahid Khaqan Abbasi. Minister for Commerce Pervaiz Malik, Special Assistant to PM Haroon Akhtar , Minister of State for Industries and Production Sardar Muhammad Arshad Khan Laghari and FBR Chairman Tariq Mehmood Pasha were also present during the meeting. The delegation included Huxiang Zhao, ex-President FIATA, Robert A Voltman, Francesco S Parisi, Ivan Petrov, Basil Pietersen, Turgut Erkeskin and Hans Gunther. Welcoming FIATA delegation to Pakistan, the prime minister said that growing economy of Pakistan, with a growth rate of around 5.5 percent, offered huge business opportunities in diverse areas including logistics and transport sectors.
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he Customs Auction Cell of the Model Customs Collectorate (MCC) Islamabad generated Rs40.639million through a public auction of impounded vehicles and smuggled goods on 11th of December Fiscal Year 2017-18. According to details explained by Assistant Collector Majid Hussain Gadd that the money earned through auction will be used for meeting the assigned target for 3nd Quarter (January to March) FY17-18. He informed CT that the Auction Cell of Islamabad will hold another auction during current month of FY17-18. Collector Islamabad Dr. Saeed Khan Jadoon appreciated the Auction Cell for conducting the auction in an organized manner. Mainly the businessmen of Rawalpindi, Islamabad and Peshawar participated in the said auction. The auction was organized by the Alvi Auctioneers along with the customs staff of the MCC Islamabad under the supervision of Deputy Collector and Assistant Collector Auction according to the Customs Act-1969.
The auctioneers deposited 25% amount on the spot out of the total worth of the lots they purchased through auction. The Auction Cell collected a total amount of Rs38.120million by selling the impounded vehicles
whereas the Auction Cell earned Rs34.655million through auction of 35 vehicles out of 65 ones and earned Rs3.465million of Income Tax imposed on auctioned vehicles. The Auction Cell also received Rs2.29million
by auctioning off four lots of conUiscated goods while it collected Rs0.229million as Income Tax from said auctioned goods. The total revenue earned through the sale of goods was estimated Rs2.519million.
IHc seeks record of case involving collectorate of customs ISLAMABAD
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He said that with an addition of over 1,800 km of 6-lane motorways and various other highways and expressways, Pakistan’s huge road infrastructure could be utilized by the logistics companies for not only catering to the domestic requirements of a growing economy but of the entire region. The prime minister said that after successful completion of the CPEC project, Pakistan was poised to serve as a hub for enhancing regional trade and connectivity especially for land-locked Afghanistan and the Central Asian states. He said that CPEC has opened up new vistas of opportunities not only for Pakistan but for the entire region.
division bench of the Islamabad High Court (IHC) directed parties to submit the record relating to the customs matter involving Model Collectorate of Customs. Justice Aamer Farooq and Justice Mohsin Akhtar Kiyani heard the matter and adjourned the hearing after issuing directives to the parties. Meanwhile, the bench also dated in ofUice the hearing of another matter submitted by M/S Mobizone Pakistan (Private) Limited. M/s Mobizone Pakistan had challenged a recovery claim made by Uield ofUice of the Federal Board of Revenue (FBR). M/s Mobizone Pakistan Private Limited had Uiled the reference in which the company had challenged a show cause notice issued by the
Large Taxpayers Unit, Islamabad. M/s Mobizone Pakistan Private Limited had prayed the court that FBR ofUice had issued a recovery notice to the company which did not hold lawful grounds. The appellant
had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings. M/s Mobizone Pakistan Private Limited submitted before the court
that the impugned order was issued under mala-Uide intentions and had no legal standing or authority and the court may decide on relief which it deemed appropriate in this regard. It also stated that due legal course was not followed by the department in issuing the order. M/s Mobizone Pakistan Private Limited had also prayed the court to decide the case early as the appellant had to bear Uinancial complications after the case. M/s Mobizone Pakistan Private Limited had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not addressed grievances of the appellant. ATIR, Federal Board of Revenue (FBR), ofUicers of LTU including commissioner Inland Revenue, and others were made respondent in the tax reference.
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IHC relisted customs appeal filed against appellate tribunal Wednesday January 24, 2018
National Asim majid khan relinquishes charge of commissioner-IR
ISLAMABAD: Justice Athar Minallah and Justice Miangul Hassan Aurangzeb of the Islamabad High Court (IHC) on Tuesday relisted Malik Nasir Khan’s customs appeal filed against Custom Appellate Tribunal, Islamabad. The IHC division bench directed the staff to relist the appeal to be heard along with other cases of similar nature. Earlier, Justice Aamer Farooq of IHC had disposed of a customs matter involving M/s Hasas Engineering and Construction Company (Private) Limited.
customs suffers a loss of Rs25m during first half of Jan 2017-18
ISLAMABAD
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ISLAMABAD
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r. Asim Majid Khan, a BS-20 officer of Inland Revenue Service has relinquished the charge of the post of Commissioner-IR (IP/TFD/HRM), Large Taxpayers Unit, Islamabad w.e.f 18.01.2018. He has relinquished charge in pursuance of Board’s Notification No. 0103-IR-I/2018, dated 17.01.2018. Meanwhile, Alvis William, Appraising Officer (BS-16), Directorate of Post Clearance Audit, Karachi who has been selected through the process of internal job posting (IJP), is granted Performance Allowance equal to 100% of minimum of his basic pay (in pay scale2011) with effect from 11.01.2018 i.e. the date of approval of the competent authority. Grant of Performance Allowance will be governed through the terms and conditions laid down vide Circular No. 6(96)S(BIC)/2013-14 dated 06.03.2015 to be read with Para-10 of Finance Division’s O.M.No.1(3)/Imp/2015360 dated 07.07.2015.
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Inspector muhammad Sharif to retire on 1 April r. Muhammad Sharif Shaikh, an Inspector of BS-16, Model Customs Collectorate, Hyderabad shall stand retired from Government service on 01.04.2018(A.N.).He is going to retire on attaining the age of superannuation. Meanwhile, Mr. Muhammad Iqbal Khan, Superintendent (BS-17) Regional Tax Office-III, Karachi shall stand retired from Government Service with effect from 11.04.2018 (A.N). He is going to retire on attaining the age of superannuation. Meanwhile, Mr. Shehzad Mehmood, a BS-19 officer of Inland Revenue Service has relinquished the charge of the post of Secretary, Federal Board of Revenue (HQ), Islamabad w.e.f 15.01.2018. –CB Report
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he MCC Islamabad earned less revenue during the Uirst half of January FY17-18 than an assigned proportional revenue target of CD whereas it slid downward against a revenue collection against the same period of corresponding January FY 16-17. According to details given by ofUicial of the MCC Islamabad that the Customs Collectorate Islamabad showed slow performance against an allocated proportional revenue target under the head of Customs Duty (CD) during the 1st to 15th of January Financial Year (FY) 201718. It was notiUied that, during above said period, the MCC Islamabad received Rs277.63million as CD
against an earmarked proportional revenue target of Rs303.00million. It was added that the MCC Islamabad generated Rs296.95million of CD during the same period as CD during January FY16-17. The sources told CT that the MCC
Islamabad showed 45.33% average of achievement during the Uirst half of January FY17-18 against an earmarked revenue collection target for the month of January FY17-18. The collectorate was allocated a revenue collection target of Rs628.04million
of CD for the month of January FY17-16. The collectorate demonstrated 94% average of growth against an earmarked proportional revenue collection target for the Uirst half of January FY17-18.
customs I & I Quetta seizes 150 contraband tyres, hashish priced at Rs11.58m T
KARACHI
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he Directorate of Customs Intelligence and Investigation Quetta conUiscated a large quantity of tyres worth Rs5million. Sources told reporter that Director Customs Intelligence and Investigation Quetta Irfan Javed received a tip-off that some smugglers are trying to smuggle nonduty-paid tyres from Quetta into different cities. He immediately constituted a raiding team. Team In-Charge, Preventive, ShaUiq-ur-Rehman and others, enhanced surveillance on the Quetta Highway and started searching vehicles. During the search operation, the team intercepted a truck bearing registration No: QK-2764 which was going out of the Quetta city. During the checking, the cus-
toms team recovered 150 nonduty-paid tyres. The customs team seized all the tyres and arrested two smugglers including a driver. The Directorate of Customs In-
telligence and Investigation Quetta registered an FIR against the smugglers and started investigations. Smugglers were identiUied as Waseem and Tajj Uddin. Earlier,
the Directorate of Customs Intelligence and Investigation Quetta impounded a reasonable quantity of hashish worth Rs6.58million and apprehended two smugglers.
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Evaded taxes retrieved from defaulter companies after serving notices to pay dues KARACHI: The Customs Export has recovered the evaded taxes and duties amounting to Rs6.06million from defaulter companies which were issued with notices to pay the outstanding dues. Sources told Customs Today that, during scrutiny of the import data, it was revealed that M/s A.A Hosiery Karachi availed undue benefits and concessions by importing different consignments through SRO 566. The company was allegedly involved in tax evasion of Rs3.28million. After detecting the tax evasion, the Customs Export issued them with a final notice on 2017 to deposit the evaded amount within 14 days. After receiving the notice, the management of M/s A.A Hosiery Karachi deposited the evaded amount in the official account of the Customs Export.
customs to destroy impounded drugs & items on customs Day ISLAMABAD
tARIQ DeRYA
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he MCC Islamabad will destroy the seized narcotics along with the contraband goods on the eve of International Customs Day on 26th of January 2018 at IDP Islamabad. According to details given by Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, that the MCC Islamabad has planned the event led by Zahid Kokhar, Member Customs FBR, on the International Customs Day. Tariq Pasha, Chairman Federal Board of Revenue (FBR), will be the chief guest of the said event. He further told CT that the event of destruction of seized narcotics and other contrabanned goods shall be held at Margalla Dry Port Islamabad
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at 10:00am as part of the observance of the International Customs Day. In this regard, a destruction committee has also been constituted which will look after the event. The Collector told CT that the Additional Collector Customs will coordinate with the other members who comprise Deputy Collector Customs (IDP) Islamabad, Deputy Director I&I FBR, Assistant Collector Preventive Islamabad, Assistant Collector Accompanied Baggage, Representative of Directorate of Excise ad Taxation Rawalpindi, Representative ANF Islamabad, Inspector Department of Explosive, Superintendent Preventive, State Ware House and Air Freight Unit Islamabad. Deputy Collector Customs AFU and Assistant Collector Customs Preventive Division will ensure the provision of logistic support for safe transportation of goods at the site of destruction.
National
Senate commerce committee terms Framework 2015-18 jugglery of words
m/s Amin tech challenges Valuation Ruling No 1146/2017 in SHc KARACHI
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he Sindh High Court (SHC) has issued notices to the the customs authorities and deputy attorney general on a constitutional petition filed by Bilal Amen, proprietor of M/s Amin Tech, challenging Valuation Ruling No 1146/2017. While hearing the petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, also directed them to file their para wise comments on the next date of hearing. Earlier, counsel for the petitioner stated that it is engaged in the lawful business of importing thermosetting chemical compounds which are used as adhesives and coating for structural integrity and/or structural protection in the construction industry. However, he submitted that high officials imposed valuation ruling no 1146/2017 and enhanced the valuation of the above mentioned goods. He argued that imposition of such valuation ruling is illegal and without lawful authority. Citing Chairman Federal Board of Revenue, Director General Directorate General of Valuation, Collector of Customs Collectorate Appraisement East.
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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 Uields, 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 efUiciency-driven and innovation-driven economy and increase share in regional trade. In this regard, the main focus had to be on four chosen markets including Iran, China, Afghanistan and European Union with key products including basmati rice, horticulture, meat and meat products, jewellery and others. Therefore the committee proposed to the Ministry of Commerce (MoC) to devise a new trade policy with rational national export targets. Committee met here with Chairman Shibli Faraz in the chair
Wednesday January 24, 2018
to supervise the implementation status of the recommendations of the committee by the MoC and attached departments. Secretary Commerce Younas Dhaga informed the committee that out of total 63 some 52 recommendations of the committee had been implemented while implementation of remaining 11 recommendations 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 Develop-
ment 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 seeking more relaxations in non-tariff barriers, avoidance of double taxations and other incentives for Pakistani exporters.
contraband electronic & seized by customs Intelligence Quetta
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KARACHI
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he Directorate of Customs Intelligence and Investigation Quetta confiscated non-dutypaid electronic items including computer monitors, cables, LED TVs, non-duty-paid split air-conditioners, perfumes and cosmetics worth Rs6.50million. Sources told Customs Today that Director Customs Intelligence and Investigation Irfan Javed received a tip-off that some smugglers are trying to smuggle electronic goods from Quetta into different cities. He immediately constituted a
raiding team. Team In-Charge Asif Ghafoor and others enhanced the surveillance on highway near Bara Market and started searching of the vehicles. During the search operation, the team intercepted a truck bearing registration No: GSL-645 which was going out of the Quetta city. During the checking, the customs team recovered 30 sets of LED TV, 30 pieces of German made non-duty-paid split airconditioners, different types of computer cables, 100 bottles of perfumes and cosmetic items valued at Rs6.50million. The customs team seized all the articles and arrested two smug-
glers who were claiming the ownership of the smuggling items. They were identified as Munir Ali and Hamza Yaseen Khan. The Directorate of Customs Intelligence and Investigation Quetta regis-
tered an FIR against the held smugglers and started more investigation. Sources said Customs Intelligence and Investigation Quetta have already apprehended more than four smugglers. The Intelligence and Investigation Quetta has planed a special operation against the non-custom-paid luxury vehicles in the 3rd week of January 2018. It is necessary to mention here that Director Customs Intelligence and Investigation Quetta Irfan Javed showed very excellent performance against the non-custom-paid luxury vehicles in the month of November and December.
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World Customs
Russia’s finance minister opposes income tax hike
MOSCOW: Russia’s Finance Minister Anton Siluanov will not support raising the income tax rate to 15% from 13%, the minister said it on the sidelines of the Gaidar Forum, which is held in Moscow. I’m against it,” RIA Novosti cited him as saying. Earlier, Vedomosti, citing federal officials, wrote that the Presidential administration and several ministries were discussing the possibility of introducing a progressive scale for personal income tax or raising rates to 15% introducing benefits for the poor.
Wednesday January 24, 2018
US customs seize cocaine load from the caribbean
Uk squeezes extra £136m tax payment from Apple LONDON
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PHILADELPHIA
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he United States Customs and Border Protection (CBP) agency says ofUicers 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 OfUice, 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 ofUicers “de-
court fines Danish Uber driver half m kroner ne of the men received a fine of 486,500 kroner (65,300 euros) for 5,428 Uber journeys in 2015. The others received fines of 110,000 kroner (14,700 euros), 60,000 kroner (8,000 euros) and 40,000 kroner (5,300 euros). The court ruled against issuing the harsher penalties requested by the prosecution, reports Ritzau “I am satisfied with the verdict given that the prosecution was upheld with regard to the charges brought in all four cases,” senior prosecutor Morten Ebbe Nielsen said. The case is significant because it potentially sets a precedent for the use of information from tax authorities in the Netherlands, where Uber’s European head office is based, in legal cases against former drivers with the appbased service. –CB Report
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tected an anomaly in one and transported that container to CBP’s Centralized Examination Station in Philadelphia. “OfUicers 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 pow-
dery substance that Uield tested positive for cocaine.” Additionally, ofUicers 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.
philippines commits to 25 percent corporate tax rate
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he Philippines Department of Finance has said the country will look to install a 25 percent corporate income tax rate on a broader base as part of the second phase of its tax reform process. Finance Undersecretary Karl Kendrick Chua explained that, presently, the country levies a 30 percent tax rate but it is applied across a narrow base, due to authorities granting tax breaks and concessions
too extensively. The Philippines imposes the highest corporate income tax (CIT) rate among Association of Southeast Asian Nations (ASEAN) but is among those at the bottom in terms of collection efUiciency. “The Philippines,” he said, “currently imposes a CIT rate of 30 percent but with a tax collection efUiciency of only 12.3 percent, while Thailand’s CIT rate is only 20 percent but it collects almost triple. –CB Report
pple has been forced to pay an extra £136m tax bill in the UK after “an extensive audit” by HM Revenue & Customs in the latest crackdown affecting the US tech giant. The payment was revealed in the accounts of Apple Europe, one of the group’s UK subsidiaries, which reported that “this payment of additional tax and interest reUlects the company’s increased activity”. HMRC is thought to have argued that the subsidiary, which performs marketing services for an Irish sister company, had not received a large enough commission on the sales it helped secure. The payment, which covered several years leading up to 2015, is the latest state claim against Apple. Ireland was ordered by the EU to claw back a tax penalty of €13bn
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from Apple considered as illegal state aid, and the company agreed to pay €318m to Italy in 2015 to settle a longrunning tax investigation. There has been a widespread effort by countries to extract more revenue from Apple, which has concentrated proUits in its ultra-low tax Irish subsidiaries. Apple paid just €344m of tax in its main European markets over the decade to 2015, according to Financial Times calculations. Its foreign tax rate was 6 per cent in 2015. Apple Europe provides sales support, marketing, Uinancial and administrative services to other group companies. The company employs 791 people and made a pre-tax proUit of £297m in the 18 months to April 2017. The total tax charge was £192m. Meanwhile, Changes to how companies pay VAT will result in more upfront costs for businesses after Brexit, under controversial legislation to be considered by MPs today. More than 130,000 British companies will be forced to pay VAT in advance for the Uirst time on all goods imported from the EU after the UK leaves the bloc.
Denmark mulls tax on bitcoin gains o one pays more tax, as a percentage of GDP, than the Danes. So in the country with the world’s highest tax burden, ofUicials are eager to ensure they don’t miss out on potential revenue as bitcoin goes mainstream. As a Uirst step, the Danish tax authority this year asked the tax board to decide whether using bitcoin constitutes speculation. Back in 2014, Denmark decided bitcoin wasn’t a currency, meaning it initially wasn’t possible to tax under capital gains rules. But authorities now feel a review is needed, given the cryptocurrency’s stratospheric growth of late.
“Whether buying and selling bitcoin is to be seen as speculation” is “key in determining whether bitcoin gains need to be taxed,” Karsten Lauritzen, the Danish tax minister, told Bloomberg. That said, if the tax board “arrives at a conclusion with which politicians, or I as tax minister, don’t agree, then we still have the possibility to create legislation, and to adjust it,” he said. The board is due to meet at the earliest on Jan 30, after which a ruling is expected. On , it dropped more than US$1,700. In other words, bitcoin has delivered the kind of sudden moves that a white-knuckled speculator’s dreams are built on. –CB Report
china 4Q gDp growth to slow on debt pollution clampdown
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BEIJING
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hina’s economic growth is expected to have slowed slightly in the fourth quarter from the previous quarter, a poll showed, as the government extended a crackdown on debt risks and factory pollution. Policymakers in the world’s second
largest economy have been trying to contain Uinancial risks and slow an explosive build-up in debt without stunting economic growth. The poll of 61 analysts showed growth in gross domestic product likely slowed to 6.7 percent on a year-on-year basis, down from 6.8 percent in the third quarter. The expected moderation comes on the back of a cooling property sector, pollution curbs that
have hit factory activity and a rise in corporate borrowing costs. We see Q4 GDP (growth) moderating slightly to 6.7 percent year-on-year, with softer quarter-on-quarter momentum,” analysts at UBS said in a note. GDP growth for the full-year of 2018 could slow to 6.4 percent from an expected 6.8 percent in 2017, as “property sales and construction slow on sustained tight policies and fading
market momentum” and infrastructure investment decelerates on tighter local government Uinancing, the UBS analysts said. Analysts’ forecasts for December quarter growth ranged from 6.5 percent to 7 percent, with modest upside surprises tipped after Premier Li Keqiang said last week that the economy is expected to have grown 6.9 percent last year.
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Five ships take berth at Port Qasim KARACHI: Five ships CSAV Tynadll, Maersk Columbus, Industrial Century, Gas Amazon, and Methane Nile Eagle carrying containers, Project Cargo, LPG and LNG were allotted berths at Qasim International Container Terminal, Multi Purpose Terminal, Engro Vopak Terminal and Engro Elengy Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) here on Wednesday. Meanwhile two more ships Gas Niaz and Bahra carrying LPG and Diesel oil also arrived at outer anchorage of Port Qasim during last 24 hours. High side berth occupancy was recorded at the port at 71% on Tuesday where a total of twelve ships namely, CSAV Tyndoll, Maersk Columbus, XPress Makalu, Era-s, Norstar Invictus, Industrial Century.
Saudi led coalition says Yemen rebels threat to ships in Red Sea audi-led coalition has warned Yemen’s rebels threaten ships in the Red Sea through their control of a key port, days after rebel warnings over a coalition blockade. The port of Hodeida is a launching pad for terrorist operations threatening navigation in the Red Sea and the Bab Al Mandab Strait,” coalition spokesman Turki Al Maliki said late on Wednesday. The Red Sea is a key shipping route for world trade that connects the Middle East to Europe via the Suez Canal. The Bab Al Mandab Strait is the southern entrance to the Red Sea. The Houthi rebels control the main port of Hodeida among a string of Red Sea ports on Yemen’s western coast that are vital entry points for food imports and aid. Maliki spoke after the rebels on Monday threatened to cut off Red Sea traffic unless Saudi Arabia and its allies lifted a blockade on
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Ports & Shipping
port of Southampton anticipates record Breaking 2018 NEW YORK
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ort of Southampton director Alastair Welch believes 2018 will be yet another record breaking year for the port as UK export volumes continue to soar. This year looks set to be another record-breaking year at the Port of Southampton, according to director Alastair Welch. Following on from the success of 2017, which saw the largest vessels in the world coming to Southampton and more than one million containers handled by the port, 2018 will see even larger mega-ships visiting. Welch said: “This is set to be another important year for the port. Across automotive, cruise, containers and bulks we are anticipating another record-breaking year. “We’ll be working hard to ensure the port continues to deliver the best possible service for our customers, maintaining its position as the nation’s gateway to the world.
“And in terms of investment, we will be spending an average of £75,000 a day on our infrastructure to meet the continuing needs of our customers.” In recognition of the critical role the Port of Southampton plays in the UK’s prosperity, ABP has launched a new short film highlighting the Port of Southampton’s vital role as the nation’s ‘Gateway to the World’ (See the video below). The Port of Southampton is the
UK’s number one export port, handling £40bn of exports every year including 90% destined for countries outside the EU. The total trade handled by the port is worth some £75bn. It is the UK’s number one port for automotive exports, providing British manufacturers with essential access to international markets and is also home to the UK’s second largest container terminal, handling around one million containers every year.
Wednesday January 24, 2018
Iran’s imports from europe on Rise ran says its imports from Europe have significantly risen during the first eight months of the current Iranian calendar year, which began on March 21, 2017. Tehran imported $32.5 billion worth of goods from Europe, which shows a 17.5 percent boost in comparison with the same period in the previous year, reported the Trade Promotion Organization of Iran (TPO) on its website. According to the TPO, during the same period Iran’s non-oil exports to Europe dropped by more than 1 percent, reaching $28.5 million. Elaborating on these figures, TPO said exports of Iran’s gas condensates, petrochemical and agricultural products dropped and exports of manufactured goods remained unchanged while Tehran sold more carpets and raw minerals to European countries during the said period. TPO reported that Iran’s imports from its biggest European trade partner, Germany, dropped 29 percent while imports from Belgium increased twofold. –CB Report
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Japan upgrades economic view for first time Yemen’s ports and main international airport. In November, the coalition tightened the blockade after the Houthis fired a missile into Saudi Arabia that was intercepted near Riyadh’s international airport. The blockade has massively reduced the amount of food and relief reaching the country, international aid groups say, even though the coalition has since allowed certain aid deliveries in. More than 9,000 people have been killed since the Saudiled coalition joined the Yemeni government in its fight against the Houthis in March 2015. The coalition, which has warships positioned in the Red Sea, accuses Iran of backing the Houthis. –CB Report
TOKYO
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he Japanese government raised its assessment of the economy in January for the Uirst time in seven months due to rising consumer spending, an encouraging sign that inUlation could start to pick up this year. Japan’s economy is gradually recovering,” the Cabinet OfUice said in its monthly economic report yesterday. That marked an upgrade from December, when the Cabinet OfUice said the economy was on a recovery path. The government also raised its assessment of consumer spending for the Uirst time since June after retail sales, household spending, and new car sales gained momentum towards the end of 2017. Consumer spending is “recovering,” which is an upgrade from the phrase “gradual recovery” used in last month’s report. The as-
sessment increases the chance that the government will declare an end to deUlation, which would amount to a declaration of victory for Prime Minister Shinzo Abe’s ambitious campaign to reUlate the economy. The difference between previous recoveries and the current recovery is that right now both the corporate sector and
the household sector are steadily improving,” said Japanese Economy Minister Toshimitsu Motegi. Data for November and December showed consumer spending bounced back from a lull caused by bad weather, a Cabinet OfUice ofUicial told reporters. However, the Cabinet OfUice left unchanged its assessment that con-
sumer prices are Ulat, showing it may still take some time for improvements in the economy to feed through to consumer prices. The Cabinet OfUice also stayed with its view that industrial output and capital expenditure are gradually expanding. Abe took ofUice in late 2012 with a bold plan to shake off 15 years of deUlation and sub-par growth. Gross domestic product has expanded for the past seven quarters, the strongest run of growth in a decade. The output gap shows demand exceeds supply by the most in more than nine years. Stock prices are at their highest in 26 years, and corporate proUits are near an all-time high. Business investment is rising, exports are growing and the labour market is the tightest in decades, due partly to a shrinking population. Japan’s robust outlook coincides with increasing evidence that the global economy is also in good health.
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FIA banking circle arrests 2 NBP employees LAHORE: Federal Investigation Agency (FIA) Banking Circle Lahore on Monday arrested two employees of the National Bank of Pakistan (NBP) — Amir Maroof (OG-II) and Aman-Ullah (OG-III) on the charges of corruption. According to an FIA spokesman, the accused misappropriated Rs 8.7 million from accounts of the Punjab Public Service Commission. A case has already been registered against the accused.
Wednesday January 24, 2018
Business
NAB files supplementary reference against Sharif ISLAMABAD
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ational Accountability Bureau (NAB) on Monday Uiled a supplementary reference against the Sharif family in the pending London Ulats case. The reference lists seven new witnesses of which two are based in the United Kingdom (UK). The reference Uiled with the accountability court’s registrar ofUice also includes evidence found during investigation. Robert Redlee, one of the witnesses listed in the reference is a forensic expert based in the UK. A close relative of the Joint Investigation Team (JIT) head Wajid Zia has
property tax imposed by AJk ppp govt: pm MUZAFFARABAD
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also been listed as one of the witnesses. Two witnesses are related to the ministry of information, one is
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Nawaz and Hussain Nawaz’s TV interviews are also part of the new evidence. Last year, the JIT in its report had claimed Maryam is the real and ultimate beneUicial owner of the AvenUield apartments. She never declared the ownership of these overseas properties, submitted fake documents and misled the Supreme Court, concluded the JIT in its report. “It has been proved beyond doubt that Ms Maryam Safdar had been the owner of AvenUield properties,” the JIT stated, adding that the documents submitted by the respondents are ‘fake and manipulated’. It added that the analysis of tax returns of Maryam – the political heir apparent of the Sharif family – shows that she had never declared the AvenUield apartments as her overseas properties.
ISLAMABAD
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ational Security Adviser Lieutenant General ® Nasser Khan Janjua Monday said China Pakistan Economic Corridor (CPEC) was the key to regional prosperity and sustainable peace in the region. Talking to Ambassador of China Yao Jing, who called on him here, he said Pakistan and China shared very special and close relationship and “we regard China as most reliable friend and a partner,” a press release said. The security adviser assured that on CPEC Pakistan had a greater national consensus and every Pakistani was committed to this project. The two sides expressed support for constructive efforts for peace and stability in Afghanistan. He also apprised the ambassador about Pakistan’s efforts to forge cooperative relations with all its neighbours on the basis of mutual respect and peaceful coexistence. The ambassador of China Yao Jing expressed his satisfaction over the growing mutual cooperation and said Chinese government had every confidence in the leadership and people of Pakistan and was ever willing to move forward for mutual prosperity and bilateral cooperation.
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‘peace restored in kp, FAtA, country leading towards economic stability’
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rime Minister of AJK Raja Farooq Haider Khan has said that property tax was imposed by AJK PPP government just seven days before last elections and we had strongly opposed the bill being in opposition. He was talking to a delegation which called on him at PM secretariat here on Monday. He said the PPP government also imposed the Educational package in its tenure and PMLN being in the opposition benches fully opposed both the bills at that time.
part of a private TV channel and two are part of NAB. According to NAB, Nawaz Sharif, Maryam Safdar, Hasan
‘cpec key to regional prosperity, sustainable peace’
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PESHAWAR
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overnor Khyber Pakhtunkhwa Engineer Iqbal Zafar Jhagra has said that peace has been restored both in the province and FATA and the country is leading towards economic stability. He further added that we do not have any dearth of natural resources, yet there is dire need to ensure their efUicient utilization. If we succeed in making best utilization of the means, available in the country, not
only the economic condition of the province and FATA will be improved but the entire country will also be greatly beneUited. This, he stated while addressing the businessmen and traders of Khyber Pakhtunkhwa Chamber of Commerce and Industry during a ceremony in honour of newly elected cabinet of FPCCI which was followed by lunch in Peshawar on Monday. Senator Ilyas Ahmed Bilour, President, Khyber Pakhtunkhwa Chamber of Commerce and Industry Zahidullah Shinwari, Newly elected President FPCCI Ghazanfar Bilour,
S.M Munir, IUitkhar Ali Malik and a number of other Industrialists and Traders from all over the country were also present on the occasion. Governor also congratulated the newly elected president of FPCCI and other members of the cabinet. “Peace has been restored both in the province and FATA because of the immortal sacrifices offered by the people alongside the Pakistan Army and the security forces and now we must focus upon promoting investment for strengthening the economy of the province”, the Governor said.
poL local production up by 11.62% in five months ISLAMABAD
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he production of petroleum products witnessed 11.62 percent increase during the Uirst four months (July-November) of the current Uiscal year as compared to the corresponding period of the last Uiscal year. According to latest data of the Pakistan Bureau of Statistics, the pe-
troleum products that contributed in positive growth included motor spirits, output of which grew by13.31 percent during the period under review. The production of High Speed Diesel grew by 12.19 percent, Diesel oil by 45.38 percent while the output of Furnace oil witnessed growth of 12.18 percent. Similarly, the production of Jute batching oil increased by 28.80 percent, Solvent Naptha by 15.59 percent while the production of LPG in-
creased by 38.86 percent. The petroleum products that witnessed negative growth in production included jet fuel, output of which decreased by 5.48 percent, Kerosene oil 8.22 percent, while the production of lubricating oil declined by 15.83 percent. Meanwhile, on yearon-year basis, the production of petroleum products increased by11.62 percent during the month of November 2017 against the production of same month of last year.
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World’s richest 1% get 82% of the wealth says Oxfam NEW YORK: The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed. Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said. Oxfam said its figures – which critics have queried – showed a failing system. It blamed tax evasion, firms’ influence on policy, erosion of workers’ rights, and cost cutting for the widening gap. Oxfam has produced similar reports for the past five years. In 2017 it calculated that the world’s eight richest individuals had as much wealth as the poorest half of the world. This year, it said 42 people now had as much wealth as the poorest half, but it revised last year’s figure to 61. Oxfam said the revision was due to improved data and said the trend of “widening inequality” remained.
chairman SSgc assures to fully advocate kccI’s representation
Wednesday January 24, 2018
Chambers
‘Qatari businessmen are looking for investment opportunities in pakistan’
KARACHI
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hairman Sui Southern Gas Company (SSGC), Lt. Gen. (Retd.) Javed Zia has said that Karachi Chamber’s valid demand for representation on SSGC’s Board of Director will be fully supported by him as it will help in bridging the gap between the Business & Industrial Community and the Utility Service Provider. “This is a very important points raised by President KCCI which is very close to my heart. I will have no hesitation in fully advocating KCCI’s demand as soon as I receive relevant letter for comments about Chamber’s representation on SSGC’s Board from the CM House”, he as-
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sured while speaking at a meeting during his visit to Karachi Chamber of Commerce & Industry (KCCI). Chairman SSGC assured full support and cooperation to business and industrial community in resolving issues, besides vowing to improve the performance of SSGC, whose strengths and weaknesses have a direct impact on the economy of Pakistan. Commenting on some of the issues raised by President KCCI in his welcome address, Javed Zia advised to hold another joint meeting at the earliest either at SSGC’s Head Office or at KCCI so that these issues could be extensively discussed with relevant officers of SSGC and accordingly resolved. He was of the opinion that other business and trade associations should also become part of the proposed meeting so that everyone could collectively devise strategies and move forward with hand-in-hand.
RAWALPINDI
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he Rawalpindi Chamber of Commerce and Industry (RCCI) delegation led by its president Zahid Latif Khan called on Qatar Ambassador Saqr Bin Mubarak Al Mansoori in Islamabad. The delegation includes Senior Vice President Muhammad Nasir Mirza, Vice President Khalid Farooq Qazi, former President Abul Rauf Chaudhry and Vice Chairman exhibition committee Khurshid Berlas. Talking to the delegation, Qatar envoy said, Qatari businessmen are looking forward to investment opportunities between Qatar and Pakistan. He noted that food security, industrialisation, pharmaceuticals and agriculture are the promising areas where joint ventures can be made. During the meeting, the two sides discussed ways to enhance joint cooperation and details of the upcoming RCCI Doha Business opportunity conference to be held in the Uirst quarter of 2018. The conference will gather some 50 Pakistani businessmen, who will
discuss investment and business opportunities between Qatar and Pakistan in different sectors. He said the Qatari economic and trade sectors, which were witnessing remarkable movement and development, welcome any investment that can further grow Qatar’s economy. Qatar envoy expressed hope that the conference
would achieve remarkable successes in the interest of enhancing cooperation between the private sectors of both countries. President RCCI Zahid Latif Khan on this occasion gave a short brieUing on RCCI current and upcoming events. He also invited the Qatar ambassador to participate in the ‘RCCI 10th All Pakistan Chamber Pres-
tDRo working for formation of new law SIALKOT
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xecutive Director General, Trade Dispute Resolution Organization (TDRO) Sajid Hussain that the TDRO was actively working on the formation of new law for providing maximum relief to the exporters and exporters through ensuring the early amicable solution to their trade disputes with the help of this direly needed law. He said that the TDRO was making all out sincere efforts to resolve the trade disputes of the exporters and importers by taking all the stakeholders on board. He stated this while addressing the participants of an awarenessraising meeting held by TDRO at Sialkot Chamber of Commerce and Industry (SCCI) here today. SCCI
President Zahid Latif Malik presided over the meeting. Irshad Ahmad (Director TDRO), SCCI SVP Abdul Waheed and Vice President Abid Ahmed Khawaja were also present on this occasion. The senior TDRO ofUicials gave a detailed brieUing to Sialkot business community about the initiative taken by TDRO to resolve the International Trade disputes by making a Special Law. During this important meeting, the Sialkot exporters expressed grave concern over the lacked law making and have urged the government to ensure the early necessary legislation for the direly needed protection of the rights of exporters and importers in the country under the Trade Dispute Resolution Organization (TDRO). SCCI President hailed the TDRO initiative for consulting with important stakeholders before Uinalizing the rules for the resolu-
tion of International Trade Disputes as well. He said that the new Law is more inclined towards the interests of the foreign buyers. He added that no counter mechanism was presenting the sample draft of International Trade Dispute Resolution against the foreign buyers. “All the stakeholders including key government functionaries like TDRO, should exercise the sprit of patriotism and put the interests of the Country first rather than facilitating the non-state actors”, he added. Addressing the participants, Hasnain Cheema, Chairman Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA) said that Ministry of Commerce is not defending the rights of the exporters. He said that it is impossible for the trade bodies to give suggestions on the bill in a limited timeframe.
idents Conference in Gwadar in March 2018 and Rawal International Expo in April 2018. The conference is expected to create effective partnerships between the two sides, particularly in light of the incentives provided by the Pakistani government to attract foreign investments and facilitate the business environment, he added.
germany halts arms exports to Saudis erman government has announced it is suspending arms exports to Saudi Arabia and other countries waging war in Yemen, a measure that sets a new bar for Western countries selling to Riyadh and puts pressure on Canada to follow suit. Human rights advocates have accused Saudi Arabia of war crimes over its conduct in Yemen, where more than 5,200 civilians have been killed and 8,800 injured since Riyadh began a military campaign there in 2015 against Houthi rebels aligned with Iran. Canada is sending billions of dollars worth of armoured combat vehicles to the Islamic kingdom, which has ramped up a violent military campaign in Yemen, a country on its southern border. The Saudi-led strategy includes aerial bombing, ground fighting and a blockade severely restricting the flow of food, fuel and medicine to civilians there. –CB Report
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Additional Collector Adjudication declares seizure of vehicle as legal MULTAN: Additional Collector Custom Adjudication Talib Hussain has issued Order-in-Original for the out-rightly confiscation in favor of Customs Intelligence and Investigation. According to details, Anti-Smuggling Organization intercepted a foreign origin Toyota Hilux Surf of white colour which was bearing registration no BE- 2338 from Multan. The owner of the vehicle who claimed ownership was identified as Ghulam Shabbir Ahmad resident of Chungi no.6 provided original documents of the said vehicle as evidence to justify possession of the vehicle.
Wednesday, January 24, 2018
CUSTOMS BULLETIN
Quetta customs seizes smuggled goods, NDp vehicles worth Rs100 million QUETTA wAQAR AHmeD ANSARI www.customsbulletin.com
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CC Quetta has seized smuggled goods including non-duty paid vehicles worth Rs100 million in early two weeks of January 2018. Collector Quetta Ashraf Ali had directed his staff to keep strict vigil on the movement of smuggled and other miscellaneous goods. He further said that smuggling inUlicts a collateral loss to the nation’s economy as on one hand it deprives legitimate industry and businesses of level playing Uields and on the other hand it deprives national exchequer of revenue, while money made from this dirty business funds anti-social elements. The seized goods include 77 non-duty-paid vehicles, auto parts, cigarettes, gutka and other miscellaneous goods. Meanwhile, All the customs stations, working under the jurisdiction of Model Customs Collectorate Quetta, earned Rs1353million of all duties and taxes of Financial Year 2017-18. According to details given by Ashraf Ali, Collector Model Customs Collectorate (MCC) Quetta, while talking with Customs Today
that, during above said period, all the stations, comprising “Customs House Taftan, NLC Dry Port, Railway Dry Port, Customs House
Chaman, Customs House Dalbandin, Auction Cell and Customs Intelligence, showed excellent performance. Customs House Taftan
generated Rs533million under all the heads. Taftan received Rs170million as Customs Duty (CD) while it did Rs256million of
Sales Tax (ST), Rs92million was earned under the head of With Holding Tax and it received Rs12million as Federal Excise Duty.
ANF seizes 673 kg narcotics worth Rs658.66 million RAWALPINDI
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nti Narcotics Force (ANF) has seized 673 kg narcotics valuing Rs658.66 million in international market besides arresting 30 persons including two females involved in drug smuggling and impounded eight vehicles while conducting 22 counter narcotics strikes across the country. The seized drugs comprised 661.3
kg Hashish, 1.175 kg Heroin, 4.100 kg Amphetamine, three kg Cannabis and 3.67 kg Methamphetamine. According to an ANF spokesman, ANF Quetta intercepted a car at main Quetta Kuchlak Road, Quetta and recovered 186 kg Hashish. A person on board namely Shafat Ali resident of HaUizabad was apprehended. Further investigations resulted in recovery of 373 kg Hashish from a deserted house in general area of Killi Gurgai District Qilla Abdullah. ANF Rawalpindi arrested an accused identiUied as Muhammad Ghayas r/o Gilgit from Parri Bangala, Chakarkot Road near Forest Barial Gilgit and recov-
ered 4.5 kg Hashish. In another operation, ANF Rawalpindi intercepted a motorcycle at Kainat Bus Stand, Peshawar Road, Rawalpindi and recovered 7.2 kg Hashish. Three persons on board identiUied as Ghulam Anwar r/o Attock, Muhammad Siddique r/o Rawalpindi and Shad Muhammad r/o Peshawar were also apprehended. In third operation, ANF Rawalpindi intercepted a car near Judicial Complex, District Katchehry, Rawalpindi and recovered 2.4 kg Hashish and arrested Salar Bin Waleed Iftikhar r/o Rawalpindi. In fourth operation, ANF Rawalpindi arrested Umar Gul r/o Swabi from Benazir Bhutto Interna-
tional Airport, Islamabad and recovered 1.6 kg Amphetamine from his trolley bag. In another operation, ANF Rawalpindi intercepted a Car from Baseen, Gilgit and recovered 11.5 kg Hashish and arrested Muhammad Yousaf, Muhammad Shair, Mehtab Ali and Khadim Ullah all r/o Kohistan. In sixth operation, ANF Rawalpindi in collaboration with ASF arrested an accused namely Khan Muhammad r/o Swat at Benazir Bhutto International Airport, Islamabad and recovered 1.1 kg Amphetamine. ANF Lahore conducted seven raids and arrested Tariq Zafar r/o Shiekhupura on recovery of four kg Hashish, Ma-
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).
jeed Ahmed and Shamim Akhtar r/o Gujarat at Allama Iqbal International Airport, Lahore on recovery of 1.7 kg Methamphetamine, Sulman Khan and Muhammad Zubair r/o Khanewal on recovery of 2.2 kg Hashish, Sohnay Khan r/o Multan on recovery of one kg Hashish, a local drug peddler, Muhammad ShaUique r/o Bahawalnagar on recovery of three kg Hashish and three kg Cannabis, Muhammad Bajilal and Abdul Qadir, r/o DG Khan on recovery of 4.5 kg Hashish and six kg Hashish from a parcel booked for local use in Multan by Rana Sajid Goods Transport near BC Chowk, Multan.