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ISLAMABAD

M FAIZAN

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ederal Board of Revenue’s (FBR) Member Inland Revenue Policy Dr Mohammad Iqbal has said that the Board has started sending tax notices to 10,000 high worth individuals after analysing data from withholding taxes. The FBR used data of withholding taxes on account of transferring of properties, registration of vehicles, electricity

connections and others for identifying these potential taxpayers. “The FBR has identiSied 10,000 high worth individuals through using withholding (WHT) data and now tax notices will be issued under section 114 of Income Tax Ordinance 2001 in order to lure non-Silers for Siling of returns in ‘polite manner’,” said Dr Iqbal. While answering a question about reasons of failure of broadening of such scheme in the past, he said that this scheme was not failed one as it helped achieving broadening of tax base when the

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FBR sent out tax notices with the help of data. “But this scheme was stopped due to unknown reasons in the past otherwise it could have helped bringing many more into tax net so far,” he added. The FBR’s ofSicial briefed the Prime Minister Shahid Khaqan Abbasi last week during an ofSicial meeting on “Tax Reforms” that the broadening of tax base was top priority as they identiSied 10,000 high worth individuals who were spending a lot of money for living and maintaining luxurious lifestyle but they were reluctant to Sile their income tax returns.

All stations of Islamabad collect Rs128m more revenue than allocated target

Customs Export retrieves evaded duties of Rs7.44m from companies

Customs Preventive foils bid to smuggle Indian origin goods

SC rejects Sharjeel Memon’s bail application

ASO Quetta recovers Irani diesel priced at Rs 5 million from three tankers

All the customs stations, working under the umbrella of MCC Islamabad | See pAge 02 |

Customs Export has recovered the evaded taxes and duties amounting to Rs7.44 m | See pAge 03 |

A team of Collectorate of Customs Preventive has foiled a bid to smuggle | See pAge 04 |

Supreme Court rejected the bail application of PPP leader Sharjeel Memon | See pAge 14 |

ASO Quetta retrieved around 87,400 liter of Iranian diesel worth about Rs5m | See pAge 16 |

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Food group exports increased by 13.05 percent Thursday, January 4, 2018

Islamabad

ISLAMABAD: Food group exports into the country increased by 13.05 percent during the first five months of current fiscal year (July-November) as compared to the same period of last year, according to Pakistan Bureau of Statistics (PBS). According to the data provided by PBS, Food group worth $1,491,592 were exported during the first five months of current year as compared to $1,319,381 of last year. Rice worth $644,370 were exported during the first five months of current year as compared to $557,336 of last year.

All stations of Islamabad collect rs128m more revenue than allocated target

ISLAMABAD

cuStoMS BuLLetIN report

tArIQ DerYA

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he Customs Dry Port Islamabad received an extra revenue of Rs4.00million as Customs Duty during 27 days of Financial Year 2017-18 against an assigned revenue collection target for the month of December. According to details explained by Tahir Iqbal Khattak, Deputy Collector Islamabad Dry Port, while talking with Customs Today that, during the month of December Fiscal Year (FY) 2017-18, Customs Collectorate Islamabad was earmarked a revenue target of Rs303.00million of Customs Duty (CD) for 31 days of December FY1718 whereas the IDP earned Rs307.00million under the same head during 27 days of current month. The IDP suﬀered a loss of Rs04million against an allocated revenue collection target of CD for 21 days of December FY2017-18. He added that, during said period, the IDP collected Rs152million as CD while it was earmarked Rs156million of CD for the same period. During first 20 days of December FY17-18, the IDP showed 97% growth against an assigned proportional revenue collection target for 20 days of FY17-18.

ll the customs stations, working under the umbrella of Model Customs Collectorate Islamabad, earned Rs128million extra revenue of Customs Duty against an assigned proportional revenue collection target for Sirst 28 days of December Fiscal Year 201718 while the collectorate also surpassed the monthly revenue target with an extra amount of Rs75million as CD. According to details given by Dr. Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, that, during 28 days of December FY17-18, all the stations, comprising Islamabad Dry Port (IDP), Air Freight Unit (AFU), C.Bond, Unaccompanied Baggage (UAB), Accompanied Baggage (AB), International Mail OfSice (IMO) and Rebate Refund Section, generated Rs624million of CD during above said period while it was allocated Rs549million monthly target whereas an earmarked proportional target was Rs496million of CD. The collector informed CT that the Islamabad Dry Port (IDP) was assigned Rs292million proportional revenue target against a surplus collection of Rs311million as CD during 28 days of December FY17-18. The IDP was allocated a monthly revenue target of Rs323million which has been also

Dry port Islamabad collects extra marginal revenue before four days

surpassed during said period. The Air Freight Unit (AFU) Islamabad also exceeded earmarked proportional monthly targets. The AFU was allocated a monthly target of Rs270million of CD while it was as-

signed Rs244million revenue target for 28 days of December against an assigned target of the AFU which earned a surplus revenue of Rs333 million. The C.Bond received Rs0.26million, UAB did Rs0.73mil-

lion, AB collected Rs2.33million, IMO got Rs0.71million while the Rebate Section paid Rs25million of Rebate Refunds to the exporters during 28 days of December FY17-18 under the head of CD.

govt set to introduce tax amnesty scheme to bring money home

ISLAMABAD

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n bid to bring back money, the government is set to introduce tax amnesty scheme for Pakistanis abroad with minimum tax rate of 3 to 5 percent, which would help collect $4 to $6 billion. According to sources, the Federal Board of Revenue (FBR) has already prepared a draft of the proposed tax amnesty scheme, which

would provide Pakistanis legal protection from the National Accountability Bureau (NAB), Anti-Money Laundering (AML) laws and reversal of any such scheme. However, the government needs constitutional guarantee from Parliament, which seems difficult preposition because the government lacks majority in the Senate. The sources said that the draft policy prepared by Tax Implementation Reform Commission (TIRC) led by Masood Naqvi played key role in prepara-

tion of draft of this amnesty scheme under which two different tax rates were proposed who would bring back their assets after disposing of and their tax rates would be minimal in the range of 2 to 3 percent. But the tax rate proposed on higher side for those who would declare their assets before the tax authorities here in Pakistan and their rates would be higher over 5 percent. The draft of proposed scheme, the sources said, has been shared with Prime Minister Shahid Khaqan Ab-

basi and fine tuning of the scheme is required for which the premier is expected to convene another important meeting in first half of January 2018. The tax authorities believe that the global environment especially in the aftermath of joining OECD forum by Pakistan paved the way for introducing such an amnesty scheme because there was increasing demand from the business community to provide an opportunity for regularising foreign assets abroad.

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Court extends bail of suspect booked in Toyota Surf smuggling case KARACHI: The Customs Taxation & Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi extended pre-arrest bail of suspect namely Usman Ghani son of Faqeer Muhammad, who was booked in a case of smuggled/ non-duty paid Toyota Surf Jeep bearing registration number E-1144. Earlier, counsel for the above mentioned accused had appeared before the court and moved bail petition, he argued that his client is innocent and was falsely been implicated in this case, who is ready to face trail, therefore, court may grant his bail till ďŹ nal order of in this case.

customs court extends remand of suspects booked in hSD oil smuggling

Thursday January 4, 2018

Karachi

customs export retrieves evaded duties of rs7.44m from companies

KARACHI

M B rANA

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he Customs Taxation and AntiSmuggling Court Judge Syed Faiz Rasool Rashdi extended physical remand of suspects namely Mehboob Ali son of Ali Akbar and Nabi Bakhsh son of Ghose Bakhsh to customs department physical remand, who were booked in a case of attempting to smuggle non-duty paid 59635 liters of Iranian HSD oil. During the hearing, investigation oďŹ&#x192;cer produced the above mentioned suspects before the court and informed the court that on credible information a team of Anti-Smuggling Organisation intercepted a Hino truck bearing registration number TLY348 near Moachko Check Post and recovered 59635 liters Iranian HSD oil.

Shc seeks remarks on plea filed for release of tanker KARACHI

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he Sindh High Court (SHC) has directed customs officials to file para wise comments on a constitutional petition filed by Hazrat Bilal, seeking release of his oil tanker bearing registration number KV-3825 seized by customs officials. A two-member bench, comprising Justice Munib Akhtar and Justice Umer Sial ,was hearing the petition. During the hearing, counsel for the customs authorities again sought further time to file para wise comments, therefore, court granted time, and adjourned the matter. Earlier, counsel for the petitioner stated that petitioner in lawful owner of the above mentioned vehicle, however, officials of the customs department seized it without shown any lawful reason.

KARACHI

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he Customs Export has recovered the evaded taxes and duties amounting to Rs7.44 million from different companies which were issued with notices to pay outstanding dues. Sources told correspondent that, during scrutiny of the import data, it was found that M/s Posh Carpets Karachi availed undue beneSits and concessions by importing various consignments and misusing the SRO 566 through Examiner Shoaib Ali. The company found involved in a tax evasion of Rs2.88million. After detecting tax evasion, the Customs Export issued them with Sinal notice on 18 December to deposit the evaded amount within seven days. After receiving the notice, the management of the M/s Posh Carpets Karachi deposited the evaded amount in the ofSicial account of the Customs Export. On the other hand, the management of the M/s Jibran Traders also cleared Rs three million of taxes and duties. Sources said the M/s Jibran Traders also availed undue beneSits and concessions and avoided paying taxes according to the customs bylaws. The Customs Export authorities issued them with a Sinal show cause notice. After receiving the notice, the management of Jibran Traders deposited the evaded amount of taxes. Other defaulter com-

pany Muqeem Knitwear deposited Rs1.56million against the Sinal notice No: 259/2017 issued on December. Meanwhile, The Customs Export has recovered an evaded amount of taxes and duties of Rs5.93million from defaulter companies which were issued with notices to pay the outstanding dues. Sources told Customs Today that, during the scrutiny of the import data, it was revealed that M/s Zia-ur-Rehman and Sons availed undue beneSits and concessions by im-

M/s posh carpets karachi availed undue benefits and concessions by importing various consignments and misusing the Sro 566 through examiner Shoaib Ali

khan trading moves Shc challenging Vr No 1145/2017

KARACHI

M B rANA

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he Sindh High Court (SHC) has issued notices to the Customs Department and deputy attorney general by directing them to Sile their respective para wise comments on a constitutional petition Siled by M/s Khan Trading Company (Private) Limited, challenging Valuation Ruling Number 1145/2017 dated 2/5/2017. A two-member bench, comprising

Justice Munib Akhtar and Justice Omer Sial, was hearing the petition. Earlier, counsel for the petitioner stated that he is importer of door locks, door sliders and hinges made of iron steel and always fulSills all the requirements according to law. He submitted that in a routine, the petitioner imported a consignment of door locks, door sliders and hinges made of iron steel from China and Siled a Goods Declaration (GDs) according to the law. However, the petitioner is aggrieved by order of the respondents

who issued Valuation Ruling No 1145/2017 dated 2/5/2017 and enhanced the valuation and customs duty and taxes. Citing Secretary Revenue Division, Chairman Federal Board of Revenue, Chief Collector of Customs, Collectorate Appraisement South, Collector of Customs Collectorate of Appraisement West, Director Directorate General of Customs Valuations as respondents, the petitioner pleaded the court to declare that act of the respondents as illegal, mala Side and arbitrary.

porting different consignments and misusing the SRO 566 through Examiner Murtaza Khan. Sources told CT that the company was allegedly involved in tax evasion of Rs3.55million. After detecting the tax evasion, the Customs Export issued to it a Sinal notice on 2017 to deposit the evaded amount within 14 days. After receiving the notice, the management of M/s Zia-ur-Rehman and Sons deposited the evaded amount in the ofSicial account of the Customs Export.

pak rupee depreciates to rs111.05 he Pakistani rupee depreciated in open market and remained firm in interbank. As per the local money market, the dollar gained 25 paisas in open market for buying at Rs 110.75 and for selling at Rs 11.05, while it remained unchanged in interbank for selling at Rs 110.20 and for selling at Rs 110.40.

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Customs Tribunal modiﬁes impugned order in imported pipe case Thursday January 4, 2018

Lahore

LAHORE: The Customs Appellate Tribunal has modified an order in a foreign origin pipe case filed by one Muhammad Kamran Manzoor against the Director, Directorate of Intelligence and Investigation–FBR Lahore. Omer Arshed Hakeem, Member Judicial Bench-II, heard the parties and announced the order with remarks that the impugned order is modified to the extent that redemption fine imposed by the adjudication office on the impugned confiscated non-notified goods is scaled down to five percent. After obtaining a search warrant, staff of the Intelligence and Investigation-FBR Lahore raided the godown in the presence of owner and found foreign origin pipes for compressors, measurement tapes, flap discs for polish and filing, cup wire brushes and fillings and welding holders.

customs Intelligence seizes huge quantity of non-duty paid dry fruit LAHORE

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irectorate of Customs Intelligence and Investigation team seized huge quantity of non-duty California shelled almonds, cashew, nuts worth Rs4 million near Band Road. Sources told Customs Today¸ that Director Customs Intelligence and Investigations Rubab Sikandar received credible information about some smuggling attempts. She immediately constituted a anti smuggling squad under the supervision of Superintendent Sajjad Bukhari, which also comprises Deputy Superintendent Nasir Minhas, Deputy Superintendent Agha Qadeer Haider which established a check post near Band Road and started checking of

NAB arrests ex-circle registrar for misuse of power he NAB Multan has arrested an ex-Circle Registrar for misuse of authority and facilitating of illegal allotment of plots in Government Officials Cooperative House Building Society Multan. The accused was identified as Asmat Mehmood and he was caught from Multan International Airport upon his return from Saudi Arabia. NAB sources disclosed that the accused was produced before Duty Judge who granted him into the custody of NAB for four days. According to details, the accused in his official capacity, misused his position and facilitated other co-accused persons for illegally reactivating Government Officials Cooperative House Building Society Multan in year 2010 which was defunct since 1959. Accused facilitated other co-accused persons for illegal allotment of 1946 plots in violation of bye-laws in both the phases. –CB Report

vehicles. The team intercepted a vehicle near Band Road and during checking recovered 173 cartons of California shelled almonds, total weight 22.68 kilograms, cashew nets, brand Najeeb weight 800 kilograms. The anti smuggling squad asked the driver of the vehicle to produce legal documents regarding possession and transportation of dry fruit, but he remained failed to produce any legal documents. Customs team after registering a case deposited the seized dry fruit in state warehouse. Further investigations are still in progress till the filing of this report. It is necessary to mention here that after taking the charge as director Customs Intelligence and Investigation Rubab Sikandar directed all anti smuggling squads which are performing their duties in fields to adopt zero tolerance policy towards smuggling.

customs preventive foils bid to smuggle goods

LAHORE

M hAYAt

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team of Collectorate of Customs Preventive has foiled a bid to smuggle a huge

customs seizes 3836 bottles of alcohol from Allama Iqbal Airport in 2017

he Customs team deputed at Allama Iqbal International Airport conSiscated 3836 alcohol bottles from passengers travelling via different Slights during raids from January 2017 to December 2017. Sources told Customs Today that the customs team conducted operations in different Slights from different countries. Flights were coming from Dubai to Lahore, Turkey to Lahore, Jeddah to Lahore and Muscat to Lahore. Customs team took action in Pakistan Interna-

tional Airlines (PIA) Slights, Turkish Airways Slight, Gulf Air. During actions in these Slights customs staff recovered 3836 bottles of alcohol. Customs allowed almost all passengers to go after conSiscation of alcohol bottles from their possession. Customs has also conSiscated 23 LED of 32 and 46 and 43 inches from passengers. Dozens of wireless sets and were also recovered from Lahore airport. Customs team has started strict checking of the luggage of the passengers specially coming from European countries. –CB Report

quantity of non-duty paid Indian origin goods at Thokar Niaz Baig. Sources told Customs Today that Collector Customs Preventive Faiz Ahmad received information that Indian origin goods were being smuggled from Peshawar to Lahore. He immediately constituted a team under the supervision of

Deputy Collector Moazzam Raza, Superintendent Nasir Minhas, Deputy Superintendent Abdul Rehman Butt, and inspectors Shahid Bhati and Aslam Farooq. The team intercepted a passenger bus which was coming from Peshawar bearing registration no: LWC-6799 at Thokar Niaz Baig. After thorough rummaging of the vehicle, the customs team recovered 79 cartons of Vatika Dabur Amla Hair oil of Indian origin. The goods, including 150 kilograms of jersey cloth, were sent to Jalalabad, Afghanistan, from India. The customs team has started investigations after registering a case against the suspects. It is necessary to mention here that Collector Faiz Ahmad directed all anti smuggling squads to adopt zero tolerance policy towards smuggling. He directed that anyone who found involved in smuggling should be dealt with iron hands and according to law.

NAB arrests man for cheating public ational Accountability Bureau (NAB) has arrested one Haji Abdul Qayyum on charges of cheating the public at large through selling plots/ lands on fabricated documents. According to NAB spokesman, an investigation was authorised against the accused and his accomplices. It transpired that Abdul Qayyum, in connivance with others, sold out plots of LDA to the public on forged documents and caused lossed of millions to the national exchequer. Meanwhile, In an important development in MQM leader Imran Fa-

rooq’s murder case, the Interior Ministry approved a request by the Federal Investigation Agency (FIA) for issuance of red warrants against three suspects. Following the approval, FIA will contact the International Criminal Police Organisation (Interpol) to send out red warrants for three prominent MQM-London members Anwar Hussain, Iftikhar Hussain and Kashif Khan Kamran. The FIA will also contact the Interpol headquarter in France to ask for assistance in the ongoing murder investigation. –CB Report

customs tribunal dismisses appeal in 600-crate of rani Juice case

LAHORE

SAJID NAwAZ

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he Customs Appellate Tribunal has dismissed an appeal Siled by Muhammad, Deputy Director Intelligence and InvestigationFBR Lahore, against Muhammad Zahid and others. Omer Arshed Hakeem, Member

Judicial, heard the case in details and decided with remarks that, after a complete hearing, tribunal feels that there is no need to interfere in the Sindings of the adjudication authority so the same case is dismissed with no order. The staff of the Intelligence and Investigation-FBR Lahore visited the New Umer Goods Transport Company and found 600 crates of foreign origin Rani Float

Juice. On demand, the clerk produced a bilty only and no other documents. Therefore the goods were taken into possession under Section 2 (kk) of the Customs Act-1969. After further investigation, the goods were found non-duty-paid and the same were seized under Section 168(1) of Customs Act-1969. After a show cause notice, adjudication proceeding was culminated and Order-

in-Original was passed with remarks that conSiscated items are redeemed to the lawful owner on the payment of 20 percent redemption Sine. About Rs 10,000 as penalty should also be charged from the appellant. Being aggrieved from the order, ONO was challenged in the learned court of Collector of Customs Appeals who passed the order in favour of the appellant.

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ISLAMABAD tArIQ DerYA

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he Model Customs Collectorate Islamabad got Rs430million surplus revenue of Withholding Tax against an assigned revenue target for six months (July to December) of Fiscal Year 2017-18. According to details explained by Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, that, during above said period, the collectorate demonstrated a good performance under the head of Withholding Tax (WHT). He added that the collectorate earned Rs517.00million of additional revenue against the same period of corresponding FY16-17 as it received Rs1255.00million of WHT during the same period of FY16-17. The Collector MCC Islamabad told Customs Today that, during Sirst six months of FY17-18, the collectorate showed 132.03% growth against a revenue collection of WHT whereas the collectorate posted Rs141.20% average achievement by collecting revenue under the same head during above said period against Sirst six months of the corresponding FY16-17. The collectorate displayed 171.61% average of growth against an allocated revenue collection target for Sirst six months of FY17-18 under all the heads

Thursday, January 4, 2018

against an earmarked revenue collection target while it demonstrated 183.95% average of achievement during the Sirst six months of FY17-18 against the same period of previous FY16-17. Meanwhile, All the customs stations, working under the umbrella of Model Customs Collectorate Islamabad, earned Rs128million extra revenue of Customs Duty against an assigned proportional revenue collection target for Sirst 28 days of December Fiscal Year 2017-18 while the collectorate also surpassed the monthly

revenue target with an extra amount of Rs75million as CD. According to details given by Dr. Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, that, during 28 days of December FY17-18, all the stations, comprising Islamabad Dry Port (IDP), Air Freight Unit (AFU), C.Bond, Unaccompanied Baggage (UAB), Accompanied Baggage (AB), International Mail Office (IMO) and Rebate Refund Section, generated Rs624million of CD during above said period while it was allocated Rs549million monthly target whereas an earmarked proportional target was Rs496million of CD. The collector informed CT that the Islamabad Dry Port (IDP) was assigned Rs292million proportional revenue target against a surplus collection of Rs311million as CD during 28 days of December FY17-18. The IDP was allocated a x i s first monthly revenue target of g n i r t, du a h e Rs323million which has been t t a d r o tol collect r Mcc also surpassed during said peo e t h c t e , l l co st a 7-18 n 1 i Y a riod. The Air Freight Unit (AFU) F g f a h so growt the month Islamabad also exceeded ears % a 3 e 0 r . e 132 wh d t e marked proportional monthly h w w e o of sh averag % targets. The AFU was allocated lection l 0 o 2 . c 1 e rs14 e d u a monthly target of Rs270milrevenu e n t e s v e po cting r orate lion of CD while it was assigned t e d l c i l e a o l l s c o c t by above Rs244million revenue target emen during d achiev a e f the for 28 days of December against h o e s h m t a n the s an assigned target of the AFU six mo under t first s n i a which earned a surplus revenue 6-17 g 1 a Y d F o g i n per of Rs333 million. pondi corres

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eDItorIAL

Novel way of tax evasions

ccording to news report broke by Customs Today, around three dozen importers evaded taxes and duties of Rs 24 billion between 2005 and 2014 by pilferage and frauds during shipment of the imported goods. The official circles are regarding it as one of the biggest tax evasion scam in the customs history of the country, the details of which show how fraudulent and fallacious methods are invented to commit forgeries and frauds. According to the report, hundreds of consignments were imported in the name of importers, but the goods were pilfered during their way from Karachi to Lahore, Faisalabad and Sialkot. Though the scam was unearthed in 2014 by Customs Intelligence, when it raided a godown and found that high-valued goods were being unloaded from containers and low-valued items were being dumped instead, but investigations into this mega scandal are still ongoing and contravention reports against these importers and mastermind are prepared. A first information report had been lodged against the suspects at the time of incident and prosecution started, but was it enough to stop this practice is a question still relevant even today. No one knows how long it will take to nab the suspects behind the incident. It is the dilemma of this nation that frauds are committed blatantly in cahoots with the black sheep in vital government organizations. The like-minded criminal elements join hands and work as mafia to damage the national economy. The recent incidents of misuse of powers by some officials within the Customs department are not a secret. The officials are free to stop cleared goods in the name of checking and create troubles for importers and exporters. There is no doubt that not all the officials are corrupt, but it is also true that not all the officials are honest. A few corrupt elements defame the whole department. The policymakers will have to devise a system of check and balance if they want to curb corruption in the country. If there are corrupt elements in the government departments, there are also corrupt elements who are a cause of shame for the business community. There is a need to implement the writ of law without any pressure.

grim outlook of economy A

LAHORE

Dr AFtAB AFZAL

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ccording to economists, Pakistan needs a paradigm shift in its economic policies. It is time for the policymakers sitting in the government offices to wake up from deep slumber and act now. As the countryâ&#x20AC;&#x2122;s exports could not pick up to the desired level and regulatory duty failed to curb imports, the only option left for the government is to facilitate industrial sector and create industrial surplus to boost exports. But this can be only possible when the officials concerned, who are drawing hefty salaries and perks, take

interest in the official work and give new shape to the economy. The regulatory duty was imposed on luxury items, including cars, processed foods, cosmetics and hundreds of other non-essential items, but it did not simply work. The people who have purchasing power can go to any length to buy goods of their choices. Therefore, the curbs on imports would not narrow the growing gap between imports and exports. In the new economic policy, incessant and low tariff electricity supply should be ensured to the export-oriented industry. However, the government opted for taking loans from international donor agen-

cies to arrest the falling foreign exchange reserves and imposed regulatory duty on luxury goods to reduce trade deficit. The tax system also needs to be overhauled as increasing the tax rates should not be the only option to cover the losses. Pakistan is one of the heaviest taxed countries in the world though only around a million are the registered taxpayers in a country of over 200 million people. Despite consuming a lot of time, money and resources, the countryâ&#x20AC;&#x2122;s tax to GDP ratio is the lowest in the region. Lack of facilities and tough laws discourage not only local entrepreneurs, but also foreign investors. The policymakers

should devise such policies to stop arm-twisting of the local investors. Otherwise, it will be impossible to stop capital flight and money laundering. According to experts, revocation of the legal clauses incorporated in the protection of economic reforms Act of June, 1992, is the need of the hour as in some cases the law facilitates money laundering and capital Slight. Despite tall claims by the government authorities, the cost of doing business in Pakistan could not be lowered. The investors, whether local or foreigners, only take interest when they are given guarantees that their gains will be high and capital will be safe in the country.

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Cabinet panel refuses to delegate powers to FBR ISLAMABAD: The Cabinet Committee for Disposal of the Legislative Cases (CCLC) has rejected to give powers of federal government to the Federal Board of Revenue (FBR) through the Benami Transactions (Prohibition) Act 2017. Dr Mohammad Iqbal, (Member) Inland Revenue Policy, informed the Senate Standing Committee on Finance that the CCLC had observed that the powers of the federal government cannot be delegated to any authority. He said the FBR had proposed to the federal cabinet to delegate its powers to the tax authority under the Benami rules. The draft rules had been submitted before the federal cabinet that referred them to the CCLC for vetting.

NA committee expresses displeasure over Secp’s performance

Thursday January 4, 2018

National

customs tribunal dismisses appeal in seized Mazda truck case

ISLAMABAD

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he Finance Committee of National Assembly has expressed displeasure over the performance of the Security and Exchange Commission of Pakistan (SECP) as not a single criminal case of insider trading has been filed against any stock exchange dealer in any court since 2015. sThe 4th meeting of the Standing Committee on Finance, Revenue and Economic Aﬀairs of the National Assembly was held under the Chairmanship of Qaiser Ahmad Sheikh, MNA. The committee approved the minutes of the last meeting held on 2311-2017. The committee deferred pertaining to “An Eradication of Riba Bill, 2015” moved by Sher Akbar Khan, MNA and “The Controller General of Accounts Appointments, Functions and Powers (Amendment) Bill, 2017” moved by Asad Umar, MNA. While considering the matter pertaining to promotion policy

LAHORE

SAJID NAwAZ

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ustoms Appellate Tribunal has dismissed the appeal Siled by the Collector of Customs, Model Customs Collectorate Faisalabad against Muhammad Amin, resident of Shikhupura. Omer Arshed Hakeem, Member Judicial heard the appeal and decided the case with remarks that the captioned question is answered in the negative resultantly this customs appeal being devoid of merit is dismissed with no order to costs. As per brief history of case, on the core controversy in clearance of Mazda mini truck the vehicle was produced for the physical inspection to the department along with afSidavit undertaking that the vehicle is neither tempered not stolen with was conducted by the examiner. During the inspection suspicion arisen that the chassis number of the vehicle was tempered the vehicle was detained for the lab test under the section 2 (kk) of Customs Act 1969. After the complete physical veriSication of vehicle the same were seized under the

section 168 of Customs Act 1969. After show cause notice, adjudication proceeding were culminated by the authority and Order-in-Original passed declared outright conSiscation of vehicle. Being aggrieved from the order, Appeal was Siled before the learned Collector of Customs (Ap-

peals) who also heard the parties and passed the order that the Order in Original is modiSied and instant appeal and disposed of Dis-satisSied with order the department has Siled the appeal before the Customs Appellate Tribunal on the grounds that order of learned collector of Customs

(Appeals) not according the fact of case, so the earlier passed order is liable to set aside, on the other side, the respondent counsel produce document regading the case. After hearing the arguments from both sides, Customs Appellate Tribunal has dismissed the appeal.

pak-Afghan transit trade decreases to $1.6b in 2017 for National Bank of Pakistan’s employees and details of recently promoted officials/oﬃcers and criteria adopted the NBP. The committee expressed their concern on the absence of president NBP. The committee members told the committee that they have received the numerous complaints from their constituencies regarding currently promotions of the NBP employees made by the National Bank of Pakistan according to new promotion policy After thread bear discussion, the Committee unanimously recommended to Governor State Bank of Pakistan to thoroughly probe the alleged misappropriations in the promotions of the NBP and report about its findings to this committee in writing within 15 days, positively.

KARACHI

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ak-Afghan transit trade volume decreased to the tune of $1.6 billion in 2017 as transit trade from India with Afghan traders through Chahbahar port increased. Pakistan Afghanistan Joint Chamber of Commerce & Industry’s President, Junaid Esmail Makda, said bottlenecks and problems are increasing in respect to Pak-Afghan bilateral trade. Traders from Afghanistan and Pakistan are also ambiguous and unaware about the facilities of transit trade from Chaman and Torkham borders under the China-Pakistan Economic Corridor project. It is pertinent to note that during 2009 to 2012 Pak-Afghan Bilateral Trade was decreased by 46

percent however after Agreement of Afghan-Pak Transit Trade in June 2012 and implementation thereof in mid of 2014-15 Bilateral trade was increased by 65 percent to tune of $2.5 billion. Thereafter due to political estrangement be-

tween two countries, India took advantage while providing more facility to Afghan Traders and facilitating trade through Chabahar Port due to which Pak-Afghan Trade has declined sharply. PAJCCI President Junaid Makda claimed

that provided trade and politics are dealt separately, Pak-Afghan Trade volume can be multiplied to $7.5 billion and employment opportunities can be created directly and indirectly for 100,000 Pakistanis. This enhancement in Pak-Afghan Trade will also support to bridge the trade deficit because Pakistan and Afghanistan on 21st January, 2016 signed at United Nation’s Convention on International Transport of Goods under cover of TIR Convention. Junaid Makda articulated that the Afghan and Pakistani traders involved in Pak-Afghan Trade are not much aware about Pak-Afghan Transit Trade facilities under CPEC. Nevertheless under CPEC with enhancement of facilities for Pak-Afghan Transit Trade, Pakistani traders can gain easy market access to Central Asian Republics via Afghanistan.

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Three Customs oﬃcers of BS-18 nominated for 25th MCMC Thursday January 4, 2018

National cabinet panel refuses to delegate powers to FBr

ISLAMABAD: The Establishment Division has nominated three Pakistan Customs Service officers of BS-18 for 25th Mid Career Management Course (MCMC) at the National Institutes of Managements in Karachi, Lahore, Peshawar, Quetta and Islamabad. These officers, including Imran Razzaq, Deputy Collector, Model Customs Collectorate of Appraisement (West), Karachi; Saad Ata Rabbani, Deputy Director, Directorate of Intelligence & Investigation, Karachi and Ahmad Affan, Second Secretary, FBR (HQ), Islamabad.

Four oﬃcers of Sales tax Department transferred

ISLAMABAD

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KARACHI

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he Cabinet Committee for Disposal of the Legislative Cases (CCLC) has rejected to give powers of federal government to the Federal Board of Revenue (FBR) through the Benami Transactions (Prohibition) Act 2017. Dr Mohammad Iqbal, (Member) Inland Revenue Policy, informed the Senate Standing Committee on Finance that the CCLC had observed that the powers of the federal government cannot be delegated to any authority. He said the FBR had proposed to the federal cabinet to delegate its powers to the tax authority under the Benami rules. The draft rules had been submitted before the federal cabinet that referred them to the CCLC for vetting. Dr Iqbal said that the CCLC took the decision in the light of the August 2016 judgment of the Supreme Court that said the federal government was the collective entity described as cabinet.

Dr Jawwad Agha takes charge as collector North r Jawwad Uwais Agha, a Pakistan Customs Service officer of BS-21, has assumed charge as Chief Collector of Customs (North), Islamabad. The officer, in pursuance of Board’s Notification No.3243-C-I/2017, dated 15.12.2017, relinquished the charge of the post of Director General (BS-21), Directorate General of Input Output Co-efficient Organization, Karachi with effect from December 19 and took charge of the post of Chief Collector of Customs (North), Islamabad (BS-21) on December 20. Meanwhile, The Establishment Division has nominated three Pakistan Customs Service officers of BS-18 for 25th Mid Career Management Course (MCMC) at the National Institutes of Managements in Karachi. –CB Report

he Federal Board of Revenue has transferred/posted four Sales Tax Department ofSicers of BS-16 with immediate effect and until further orders. Rana Taj Ahmad has been transferred from the post of Senior Auditor, Directorate of Intelligence & Investigation (Inland Revenue), Multan and posted as Senior Auditor, Regional Tax OfSice, Multan. Naseer Iqbal has been transferred from the post of Senior Auditor, Corporate Regional Tax OfSice, Lahore and posted as Senior Auditor, Regional Tax OfSice, Sahiwal. Rashid Kabir has been transferred from the post of Senior Auditor, Corporate Regional Tax OfSice, Lahore and posted as Senior Au-

ditor, Regional Tax OfSice III, Karachi. Asif Ali Kehar has been transferred from the post of Senior Auditor, Regional Tax OfSice II, Karachi and posted as Senior Auditor, Regional

Tax OfSice III, Karachi. According to the Board’s notiSication, the ofSicers who are drawing performance allowance prior to issuance of this notiSication will continue to draw this al-

lowance on the new place of posting. The ofSicers have been asked to relinquish/assume charge, using online HRMS facility made available to FBR or by using their IJP logins.

ASo Islamabad impounds 133 NDp & oﬀending vehicles worth rs228 million T

ISLAMABAD

tArIQ DerYA

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he Customs Anti-Smuggling Organization Islamabad took into possession 133 NonDuty-Paid and offending vehicles (carrying smuggling goods) valued at Rs228million during Sive months plus three weeks of December Financial Year 2017-18. According to details explained by Majid Hussain Gaad, Assistant Collector, Anti-Smuggling Organization (ASO) Islamabad, to Customs Today that, under the supervision of Saeed Khan Jadoon, Collector Model Customs Islamabad, ASO Islamabad showed satisfactory performance by seizing a handsome number of smuggled vehicles and smuggling goods during above said period. The ASO conSiscated smuggling goods worth Rs359.94million during three weeks of December and

Sive months of FY17-18. The ASO impounded NDP and smuggled vehicles priced at Rs238.87million

whereas it took into possession 111 offending vehicles valued at Rs121.025million. The Car Cell of

the ASO impounded 22 NDP vehicles worth Rs107.86million during above said period.

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Foreign reserves decline to $20 billion KARACHI: The total liquid foreign reserves held by the country stood at $20,189.0 million on The weekly break-up of the foreign reserves position released on Thursday showed that foreign reserves held by the State Bank of Pakistan stood at $14,133.3 million and net foreign reserves held by commercial banks are $6,055.7 million. During the week ending 22nd December, SBP’s reserves decreased by $199 million to $14,133 million, due to external debt and other oﬃcial payments.

NBp to brief NA body on new promotion policy ISLAMABAD

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he National Assembly’s Standing Committee on Finance, Revenue, Economic Aﬀairs would be thoroughly briefed on Friday by the management of National Bank of Pakistan (NBP) on the new appointment and promotion policy of the bank. The NA body during its last meeting held on December had directed the bank management to present a detailed report of recruitment made under this policy, as it had expressed serious reservation over the new merit policy of the bank. Under the new policy, the weight-age of interview for any post of senior level had been enhanced up to 50 percent, which the committee opined would compromise merit-based appoint-

ments in the bank. The committee which is scheduled to meet under the chairmanship of Qaiser Ahmad Sheikh would be provided details of recently promoted oﬃcials and oﬃcers of the bank along with the breakup of marks, performance, ACR, length of service and interviews. The bank would also present details of composition and qualification of the heads of members of the HR Committee for all the categories on which appointments have been made. The committee during its last meeting had expressed the view that the NBP should consider other qualifications including experience and performance for promoting any of its employees and was of the view that the new policy should be revisited for the better national interest. In addition, the NA body is also scheduled to be briefed by the Secretary Economic Affairs Division on the working and functioning of the division also with the details of foreign loans and funding.

National

Ministry of commerce writes to Iran, tajikistan to operationalise ecotA

Shc seeks comments on plea filed against fixation of extra duty KARACHI

M B rANA

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he Sindh High Court (SHC) has directed customs oﬃcials to file their respective para wise comments on a constitutional petition filed by M/s Master Pipe Industries against fixation of extra duty on hot rolled coils, cold rolled and galvanized coil of secondary quality imported from European countries and Taiwan. A two-member bench, comprising Justice Munib Akhtar and Justice Omer Sial, was hearing the petition. Earlier, counsel for the petitioner appeared before the court and submitted that petitioner is an importer and fulfills all his the responsibilities according to the law. The counsel said that he regularly imports hot rolled coils, cold rolled and galvanized coil of secondary quality mostly from European countries and Taiwan. He argued that his client imported the above mentioned goods and filed a Goods Declaration, however, he is seriously aggrieved from the act of respondents who imposed extra duty on the same without lawful authorities and adopting legal manners. After the hearing, the court had issued notices to the customs oﬃcials and deputy attorney general by directing them to file comments on the next date of hearing.

ISLAMABAD

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he Ministry of Commerce has sent formal letters to both the Iran and Tajikistan to expedite completion of formalities to operationalize Economic Cooperation Organization Trade Agreement (ECOTA) under intra-ECO trade Economic Cooperation Organization. The ECO is an organization of 10 Islamic countries namely Pakistan, Iran, Turkey, Afghanistan, Tajikistan, Kyrgyzstan, Kazakhstan, Uzbekistan, Turkmenistan and Azerbaijan. Despite cultural and geographical proximity, intra-ECO trade is far below its true potential. In order to enhance intra-ECO trade, ECOTA was signed during the 2nd Ministerial Meeting on Commerce / Foreign Trade in July 17, 2003 by Sive out of ten ECO Member States namely, Afghanistan, Iran, Pakistan, Tajikistan and Turkey. Sources at Commerce Ministry told Customs Today that the agreement had not been implemented as yet due to non-submission of Tariff Concession Lists by Iran and Tajikistan and non-ratiSication of Annexes to the Agreement.

Thursday January 4, 2018

Therefore, the source told that MoC had once again reminded both the Iran and Tajikistan to expedite completion of formalities so that the Agreement could be operationalized and intra ECO trade gathers pace. In addition to expediting the process of operationalization of ECOTA, the source said that MoC would also host the 5th ECO- Ministerial Meeting on Commerce and Trade here in Islamabad next month (January 2018). Previously, the source said that MoC organized

3rd Seminar on Trading Patterns in ECO Region in May last year. Pakistan Institute of Trade and Development (PITAD) organized 4th Seminar on Trading Patterns in ECO Region for the relevant government ofSicers of the Member States of ECO Countries here in Islamabad in October this year. The Seminar provided opportunities to the ofSicials of the ECO countries to discuss matters relating to Intra-ECO trade and to bring improvements in the regional trade Slows.

Adjudication-1 performs well by serving 12 notices

KARACHI

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he Customs Adjudication-I showed an excellent performance in the month of December. According to source, the adjudication has issued eight show cause and four Sinal notices to defaulter companies in the current month. The Customs Adjudication-I has retrieved Rs4.20million from M/s Rajjab and Sons Karachi. The company was allegedly involved in tax evasion. Sources told our reporter that Collector Customs Adjudication-I M Javed has issued a showcause notice to said company for al-

legedly causing the treasury a loss of Rs4.20million by way of mis-declaration of classiSication. M/s Rajjab

and Sons imported a consignment of imported ladies silk fabrics and imported kids’ jeans, men’s wear jeans,

and imported tee shirts from Malaysia & got them cleared by misdeclaring the classiSication under the Pakistan Custom Tariff (PCT) from the Pakistan International Container Terminal (PICT) through Examiner Mojeed-ur-Rehman. The company allegedly availed undue and inadmissible beneSit as well as exemption of sales tax. It is pertinent to mention here that M/s Rajjab and Sons itself has imported identical/same goods under the correct PCT heading 2409.2705. Apart from it, all other importers of different kinds of Ladies’ silk fabric and imported kids’ jeans, men’s wears jeans and imported T-Shirts.

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US border agents arrest woman for human smuggling

World Customs

NEW YORK: A Tempe woman has been arrested at an immigration checkpoint in southern Arizona after authorities found three people hidden in the trunk of her car. Authorities say the woman’s vehicle was ﬂagged for a secondary inspection after she was stopped at the checkpoint along Interstate 19 afternoon. The search resulted in two men and a woman being found in the trunk. They ranged in age from 18 to 33 and were from Mexico and Guatemala. Agents also found a loaded handgun in the vehicle.

Thursday January 4, 2018

customs and Border protection Istanbul police seizes 9 tons of drugs in 2017 apprehend two indiviudals ISTANBUL

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NEW YORK

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ustoms and Border Protection apprehended two individuals during two separate enforcement actions over the holiday weekend. CBP ofSicers apprehended a man who was wanted for indecency with a child. According to CBP, ofSicers encountered a 51-yearold U.S. citizen who was driving a commercial bus. CBP referred the man to secondary inspection and ran the man’s information through the CBP database. OfSicers discovered the man was the subject of a National Crime Information Center and had a warrant for indecency with a child. The second apprehension happened on December 22nd at the Lincoln Juarez Bridge when ofSicers referred a 24-year-old woman from Brazil to secondary inspection.

India begins dumping probe into chemical imported from russia ndia has initiated an anti-dumping probe into alleged dumping of a chemical, used in industries such as pharma and food processing, from Russia following a complaint from domestic players. Deepak Nitrite Ltd had filed the application before the Directorate General of Antidumping and Allied Duties (DGAD) for initiation of anti-dumping investigation and imposition of the duty on the imports of ‘Sodium Nitrite’ from Russia. According to the notification of the DGAD, it has prima facie found “sufficient evidence” of dumping of the chemical from Russia. It has stated that the evidences justify initiation of the investigations. DGAD is the commerce ministry’s investigation arm. –CB Report

CBP ofSicers say the woman attempted to apply for entry into the U.S. and presented an Italian passport. When agents inspected the

woman’s documents they found out she had a fraudulent passport. Both individuals were processed and detained pending further proceedings.

china to grant crude oil import quotas to Jiangsu Xinhai petrochemical

hina independent reSiner Xinhai Petrochemical in eastern Jiangsu province, is now on track to receive its Sirst crude oil import quotas for a total of 2.3 million mt/year (46,000 b/d), China Petroleum and Chemical Industry Federation, which reviews quota applications, said on its website Friday. The government regulates China’s crude imports, but CPCIF, which is not afSiliated to the government, has been

appointed to review documentation and make site visits as part of the application review process for crude import quota allocations. The quotas are subsequently approved by the National Development and Reform Commission and granted by the Ministry of Commerce. CPCIF conducted on-site inspections over October 26-28, and is seeking public feedback by January 9 regarding the quota allocation. –CB Report

stanbul police seized over nine tons of drugs during anti-narcotics operations in 2017, security sources said. The sources, who spoke on condition of anonymity due to restrictions on speaking to the media, told Anadolu Agency that during the operations 9.03 tons of drugs and 5,773,235 drug pills were seized. Also, 45,840 suspects were arrested of which 4,826 were remanded in custody, the sources added. One hundred and ninetythree foreigners from 45 different countries were among those remanded in custody. Turkish authorities utilize various ways to track narcotics in the country and a new system will be installed to track narcotic content

russia to keep up oil ties with Iran ussian Energy Minister Alexander Novak has expressed hope to proceed with oil cooperation with Iran within the framework of exchanging oil for goods. Novak rejected a report that Moscow has bought oil from Tehran noting that the Russian state trading enterprise ‘Promsirieimport’ has not purchased Iran’s oil but it is only brokering between Iran and foreign sides. He said that oil cooperation between Tehran and Moscow was based on a deal signed between the two sides in 2014. The Russian ofSicial expressed hope for a surge in Iran’s crude exports to Russia, not-

Saudi Arabia bans egyptian guava import

RIYADH

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audi Arabia has ofSicially informed Egypt of its decision to ban the import of Egyptian guava due to the high percentage of pesticide residue which are not up to international health and safety standards, said ofSicial sources from

the agricultural ministry. Abdel Hamid al-Demerdash, chairman of the Export Council of Agricultural Crops, also contacted ofSicials from the agricultural ministry in Saudi Arabia who conSirmed the decision to ban imports of the fruit. Saudi authorities inspected Egyptian agricultural shipments and made sample analyses, monitoring the pesticide residue, according to

in the waste waters of metropolitan cities such as Istanbul, Ankara, İzmir and Adana. Turkey, a transit country for drug smugglers working between Asia and Europe, is looking to curb domestic drug use. In 2014, the government launched “The Rapid Action Plan Against Drugs” to counter drug abuse and smuggling. The action plan covers all aspects of the struggle against narcotics abused by about 2.7 percent of the population, from raising awareness of their dangers and curbing demand to rehabilitation and treatment of addicts and facilitating social inclusion. It also paved the way for the establishment of “narcoteams,” specialized police units active in neighborhoods where drug sales are concentrated. Meanwhie, Turkish police have caught two people trying to sell two one-million dollar bills in the western province of Eskişehir, state-run Anadolu Agency.

an ofSicial report by Demerdash submitted to the Export Council of Agricultural Crops. A Saudi ofSicial from the agricultural ministry told Demerdash that Saudi Arabia has recently received Egyptian pomegranate shipments which violate the maximum limits of pesticide residues. The Saudi ofSicial pointed out that an ofSicial letter was sent to Egyptian authorities in this regard,

ing that the deal allows elevation of oil exchange volumes to Sive million barrels per day. According to the Russian media, Iran signed an agreement with Russia in 2014 under which it has broken free from the petrodollar, and sells, or rather barter crude oil to Russia in exchange for products. Earlier, Iranian Petroleum Minister Bijan Zanganeh had reported on plans to ship 100 thousand barrels of oil per day to foreign markets with assistance of Russians. “On the basis of a joint agreement, Iran delivers 100 thousand barrels of crude oil per day to Russia. –CB Report

adding that measures may be taken against the Egyptian pomegranate if violating standards continue. Meanwhile, Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 percent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago.

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Shipping activity at Port Qasim KARACHI: Three ships, MSC Heldi, Corona and Octaden carrying Containers, Palm oil and Phosphoric Acid took berths at Qasim International Container Terminal, Liquid Cargo Terminal and Engro Vopak Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA), here on Wednesday. Meanwhile two more ships, Maersk Denver and Elm Galaxy carrying Containers and Palm oil also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was reported at the port at 53% on Tuesday where a total of nine ships namely MSC Heidi, Pan Oceanis, G.H Rough Habit, Eptalofs, Corona, Octaden, Maria-III, Ejnana and Al-Jassasiaya are currently occupying berths to load/oﬄoad Containers.

Shipping activity at port Qasim risk shipping was recorded of the Port where five ships, Maersk Denver YM Miranda, Yasa Pembe, Khor Gas and Quetta carrying Containers, Chemicals, Coal, LPG and Furance oil were allotted berths at Qasim International Container Terminal, Multi-purpose Terminal, Engro Vopak Terminal and FOTCO Oil Terminal respectively on Wednesday. Meanwhile gas carrier ‘Kano’ and Edible oil ship lime Galaxy also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was observed of the Port at sixty five percent where a total of eleven ships namely Maersk Denver, MSC Heldi, Pan Oceanis, Yasa Pembe, Eptalofs, Corana, YM Miranda, Khor Gas, Maria-III, Ejnan and Quetta are currently occupying berths to load/oﬄoad Containers, Rice, Coal, Canola seeds, Chemicals, LPG, LNG, Palm oil and Furnace oil during last 24 hours. Cargo throughput during last 24 hours stood at 132,966 tonnes, comprising 97,056

Ports & Shipping

port Authority, ApM announce $49.5 million expansion ALABAMA

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he Alabama State Port Authority and APM Terminals boards of directors in separate actions have approved a $49.5 million expansion of the container facility at the Port of Mobile. In a news release, the Port Authority and APM Terminals announced they jointly will deliver a Phase 3 expansion that includes a dock extension and an additional 20 acres of improved yard to maintain excess capacity to accommodate new business opportunities. When completed, the project will accommodate an annual throughput capacity of 650,000 TEUs (twenty-foot equivalent units). TEU is a standard shipping container measurement length used by the shipping industry to measure container capacity. “The Phase 3 expansion enables us to stay well ahead of the growth pattern we’ve seen in the Port of Mobile, as well as

add dock space to support the growing vessel sizes that are coming to the terminal. It will help us maintain the efSiciency levels our customers have come to expect, while also creating the extra capacity needed to support potential future economic growth in our market,” Brian Harold, managing director for APM Terminals Mobile, said. Phase 3 is part of a Sive-phase long-term plan that can grow the terminal’s maximum annual throughput ca-

pacity to 1.5 million TEUs. Under the Phase 3 development, a 400-foot dock extension, super Post-Panamax crane rails and upgrades to the fender system will accommodate 14,000 TEU ships. The 20-acre yard expansion ensures excess capacity at the terminal to accommodate new shipper and carrier business opportunities. The dock extension will take approximately 24 months to complete, while the yard will take 18 months to complete.

Thursday January 4, 2018

Asia monthly Iran crude imports fall mports of Iranian crude oil by major buyers in Asia tumbled 29% in November from the same month a year ago to the lowest volumes since April 2016, government and shiptracking data showed. In total, China, India, Japan and South Korea imported 1.36 million barrels per day last month from Iran, the data showed, Reuters reported. The drop comes after imports hit highs earlier this year and last when Tehran ramped up exports after the lifting of sanctions that had targeted its nuclear program. The slowdown had been expected, as oil loadings bound for Asia fell below 1.5 million bpd in October, a person with knowledge of Iran’s tanker schedules had told Reuters. Tehran is pushing to retain its prized Asian customers, hoping price reductions will boost the appeal of its crude compared with other Middle Eastern grades even as the potential threat of a renewal of US sanctions looms. Meanwhile, India’s refiners cut Iranian oil imports by more than half in November, ship tracking data showed. –CB Report

Iran non oil exports to china up 27% tonnes import cargo and 35,910 tonnes export cargo inclusive of containerized cargo carried in 2,420 Container (TEUs),(1,350 TEUs imports and 1,670 TEUs exports) was handled at the Port. Gas carrier ‘Khor Gas’ sailed out to sea on Thursday morning while three more ships Maersk Denver, MSC Heidi and Ejnan are expected to sail on same day (today) following ships are currently at outer anchorage for waiting to berths. Two ships, Priority and Tiamat Gas carrying Containers and LPG are expected to take berths at Container Terminal and SSGC Terminal respectively on while three more ships Prosper, Hansa America and Teno with containers are due to arrive at Port Qasim. –CB Report

TEHRAN

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ran non oil exports to China saw a 27.1% rise in value and a 27.7% increase in weight in the 11 months of 2017 compared with the same period of last year, Iran’s commercial attaché to China said. Seyyed Reza Seyyed Aqazadeh added that trade balance between the two countries during the period stood at $400 million in favor of Iran. Seyyed Aqazadeh did not mention the value and volume of bilateral trade. However, the latest data published by ISNA show Iran exported $13.88 billion worth of commodities to China during the nine months to Sept. 30. A total of $27 billion worth of goods were exchanged between the two countries during the period. With $8.74 billion, oil comprised the lion’s share of

Iran’s exports to China, which imports 633,000 barrels of crude from Iran daily and is Iran’s biggest oil customer. Mineral products constitute a major part of Iran’s non-oil exports to China. Latest statistics released by Iranian Mines and Mining Industries Development Renovation Organization show Iranian miners exported 12.44 million tons of mineral products worth $1.08 billion to China during the Sirst seven months of the current Siscal year (March 21Oct. 22). Iron ore was the main exported commodity in the sevenmonth period, standing at 10.47 million tons valued at $584.25 million. “Iran is currently the seventh largest iron ore supplier to China— a three-step drop compared to its 2013 heyday,” a member of the board and the head of international affairs at Iranian Iron Ore Producers and Exporters Association, Keyvan Jafari Tehrani, said.

Tehrani noted that Iran’s share of Chinese iron ore imports stood at 2.3-2.5% in 2013 while it exported 23.5 million tons, over 90% of which went to China. Meanwhile, Iran non oil exports to China saw a 27.1% rise in value and a 27.7% increase in weight in the 11 months of 2017 compared with the same period of last year, Iran’s commercial attaché to China said. Seyyed Reza Seyyed Aqazadeh added that trade balance between the two countries during the period stood at $400 million in favor of Iran. Seyyed Aqazadeh did not mention the value and volume of bilateral trade. However, the latest data published by ISNA show Iran exported $13.88 billion worth of commodities to China during the nine months to Sept. 30. A total of $27 billion worth of goods were exchanged between the two countries during the period. With $8.74 bil-

lion, oil comprised the lion’s share of Iran’s exports to China, which imports 633,000 barrels of crude from Iran daily and is Iran’s biggest oil customer. Mineral products constitute a major part of Iran’s non-oil exports to China. Latest statistics released by Iranian Mines and Mining Industries Development Renovation Organization show Iranian miners exported 12.44 million tons of mineral products worth $1.08 billion to China during the Sirst seven months of the current Siscal year (March 21Oct. 22). Iron ore was the main exported commodity in the sevenmonth period, standing at 10.47 million tons valued at $584.25 million. “Iran is currently the seventh largest iron ore supplier to China— a three-step drop compared to its 2013 heyday,” a member of the board and the head of international affairs at Iranian Iron Ore Producers and Exporters Association.

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Vehicles prices increased after rupee devaluation Thursday January 4, 2018

Business

LAHORE: The Suzuki Motor Company has raised the prices of some of its variants, eﬀective from the January 1, 2018, by Rs10,000 to Rs20,000. According to the company, the prices of Bolan and Ravi have been increased by Rs10,000, Mehran VX and VXR by Rs10,000 (CNG variants prices unchanged), while prices of Wagon-R VXR and VXL have been hiked by Rs20,000. The move was widely anticipated due to the recent Pak rupee devaluation against the US$, which would push up costs of raw materials for auto assemblers.

Sc rejects Sharjeel Memon’s bail application ISLAMABAD

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he Supreme Court rejected the bail application of Pakistan Peoples Party (PPP) leader Sharjeel Inam Memon and two others. On November 25, the PPP leader had Siled an appeal in the apex court, challenging the Sindh High Court’s decision to reject his bail in a reference pertaining to the award of advertisements at ‘exorbitant rates’ through the abuse of his power. In his appeal, Memon had said that he should be granted bail since the National Accountability Bureau (NAB) does not have any evidence against him, adding that

IrSA releases 20,300 cusecs water KARACHI

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his arrest was in contradiction with accountability laws. The Supreme Court on Tuesday also rejected the bail applications of Inam Akbar, the owner of a private advertising Sirm,

Seafood exports up 6.37pc in 5 months, 7.11 percent

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The Indus River System Authority (IRSA) Tuesday released 20,300 cusecs water from various rim stations with inflow of 30,300 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1442.73 feet, which was 62.73 feet higher than its dead level of 1,380 feet. Water inflow in the dam was recorded as 14,700 cusecs and outflow as 5,000 cusecs. The water level in the Jhelum River at Mangla Dam was 1104.45 feet.

and a director of the Sindh government. A team from NAB had taken Memon into custody on Oct 23 after the SHC had rejected his bail plea in a corruption case.

Following the rejection of his bail plea, Memon had holed up for hours in a courtroom to avoid arrest as his team explored their options, but could not stave off the inevitable for long. As soon as Memon exited the building, surrounded in a tight cordon by his lawyers and supporters, he was nabbed by representatives of the accountability bureau and whisked away. In a previous hearing of the case, NAB had said that it investigated corruption and corrupt practices in the award of advertisements against the law and at exorbitant rates to TV channels and FM radio stations for various awareness campaigns between July 2013 and June 2015. It said it had found that the accused acted with the connivance of each other, resulting in losses to the national exchequer.

RAWALPINDI

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he exports of Sish and Sish preparations from the country witnessed increase of 6.37 percent during the Sirst Sive months of the current Siscal year compared to the corresponding period of last year. Pakistan exports Sish and Sish preparations worth $169.943 million during July-November (201718) compared to the exports of $156.006 million during July-November (2016-17), showing upward

growth of 6.37 percent, according to data of Pakistan Bureau of Statistics (PBS). Meanwhile, on year-onyear basis, the seafood exports from the country during the month of November 2017 witnessed increase of 7.11 percent when compared to the same month of last year. The exports of Sish and Sish preparation from the country during November were recorded at $44.133 million as compared to the exports of $41.204 million during November 2016. On month-onmonth basis, the seafood exports from the country however de-

creased by 4.34 percent in November 2017 when compared to the exports of $46.137 million in October 2017, the PBS data revealed. It is pertinent to mention here that the overall food exports from the country witnessed increase of 13.05 percent during the Sirst Sive months of the current Siscal year against the same period of last year. The food exports from the country during July-November (2017-18) were recorded at $1491.592 million against the exports of $1319.381 million during July-November 92016-17), the data revealed.

‘govt taking measures to expand tax net’ GILGIT

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dviser to Prime Minister on Finance, Economic Aﬀairs and Revenue Miftah Ismail said on Monday that the government is taking several measures for enhancing tax net to increase revenue, with the consultation of all provisional stakeholders. “The mobilization of domestic resources through reforms in taxation is essential to ensure sustainable financing of development as government would not depend on foreign loan”, he said in an interview. While appreciating former Finance Minister Muhammad Ishaq Dar, he said, Dar contributed for country’s economic stability and growth. He assured that in a month “We will take further steps to make our economy more strong through tax reforms.”“We want to facilitate the new tax filers and less tax burden on middle class citizens for balancing tax distribution”, he said. Ismail said the government planned tax reforms to focus on widening the tax base, simplifying tax structures, and slashing personal tax rates to encourage more people to file returns. “We have to reduce rates and the prime minister is very eager to especially reduce rates on individuals,” Ismail said.

NAB court adjourns Dar assets reference hearing till 18th ISLAMABAD

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he accountability court adjourned hearing of the assets reference case against former finance minister Ishaq Dar till January 18. Justice Muhammad Bashir, hearing the reference filed by the National Accountability Bureau (NAB) against the PML-N leader, adjourned the

hearing after the NAB special prosecutor submitted a copy of the Islamabad High Court’s (IHC) stay order to the accountability court. The IHC, after hearing Dar’s petitions earlier in December against the accountability court’s order declaring him a proclaimed offender and issuance of non-bailable arrest warrants for him, barred the accountability court from proceedings against the former finance minister till

January 17, 2018. During the hearing on December 18, 2017 four witnesses had recorded their statements before the accountability court including private bank officer Faisal Shahzad, Director National Assembly Sher Dil Khan, Director Ministry Commerce Qamar Zaman and Deputy Secretary Cabinet Division Wasif Hussain. Witness Faisal Shahzad had also submitted details of bank ac-

counts of Dar’s wife before the court. The court had directed NAB to submit its report pertaining to confiscation of properties of Dar and his guarantors and dismissed Dar’s request to appoint Qazi Misbah as his counsel. Dar is accused of possessing assets disproportionate to his declared sources of income. A reference against the former finance minister was filed by the NAB in light of the Supreme Court’s July 28

verdict in the Panama Papers case. Dar had been earlier declared a proclaimed offender by the accountability court due to his continuous absence from the proceedings. On November 23, Prime Minister Shahid Khaqan Abbasi accepted Dar’s request to be relieved of his duties as finance minister. He was relieved of his three roles, including his portfolio in the finance ministry.

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Russia risks wrath by ‘supplying fuel to North Korea’ MOSCOW: Russian tankers have supplied fuel to North Korea on at least three occasions in recent months by transferring cargoes at sea, according to two senior Western European security sources, providing an economic lifeline to the secretive Communist state. The sales of oil or oil products from Russia, the world’s second biggest oil exporter and a veto-wielding member of the UN Security Council, breach UN sanctions, the security sources said. The transfers in October and November indicate that smuggling from Russia to North Korea has evolved to loading cargoes at sea since it was reported in September that North Korean ships were sailing directly from Russia to their homeland.

IccI calls for early promulgation of new rent law in Islamabad

Thursday January 4, 2018

Chambers

kccI, hashmanis Foundation conducts free medical camp

LAHORE

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isar Ahmed Mirza, Acting President, Islamabad Chamber of Commerce & Industry has called upon the government to take urgent measures for early passage and promulgation of a new rent control law in Islamabad to meet the long-standing demands of traders. He said due to delay in the enactment of amended bill of rent law, the traders of almost all the local markets have now started protest movement as they were feeling very disappointed over the inaction of the government to promulgate a new rent law in the federal capital. He was talking to a

delegation of local traders that called on him to discuss the problems being faced by the trading community due to absence of a rent law in Islamabad. The delegation members said that with the consultation of all stakeholders, an amended bill of rent control act for Islamabad was prepared that was presented long time ago in the National Assembly. However, no action has been taken so far to pass the said bill into law and delay in its enactment was giving rise to rent disputes. This situation was creating lot of frustrations in the trading community as they were feeling insecure about their business future. They stressed that government should pass the bill into law without wasting further time so that traders could do business with a sense of security and peace of mind.

KARACHI

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he Karachi Chamber of Commerce & Industry (KCCI) in collaboration with Hashmanis Foundation organized a day long Free Medical Camp at Majeed Bawany Auditorium where Sugar, Cholesterol, Uric Acid, Bone Mineral Density and eye tests were performed by the medical team of Hashmani Hospital. Besides large number of KCCI members and staff, the medical camp was also attended by Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli, Acting President KCCI Abdul Basit Abdul Razzak, Vice President Rehan Hanif, Chairman KCCI sub-committee for Health & Education Ismail Surriya, and KCCI managing committee members. Chairman of Hashmanis Foundation, Dr. Sharif Hashmani, while highlighting the successful journey of Hashmanis Foundation, informed that the hospital has been providing the best eye care facilities to the patients through state-of-the-art tech-

nologies being widely used around the world. Besides providing eye care facilities, Hashmani Hospital has also been equally focusing on carrying out extensive research work which has been published in numerous international journals. He said that Hashmani Hospital provides free eye care facilities to the needy patients and charges very nominal amount from others. Speaking on the occasion, Chairman Businessmen Group (BMG) & Former President KCCI Siraj Kassam

Teli, while appreciating the dedicated services being offered by Hashmani Hospital particularly to the needy patients of Pakistani society, assured full support and cooperation of Karachi Chamber to the Hospital in all its initiatives. Highlighting the journey of Businessmen Group, he informed Chairman Hashmanis Foundation that BMG has been constantly winning KCCI’s elections since last two decades because of its clear policy of Public Service. “We are being sup-

‘Increase in poL prices to high businesses’ LAHORE

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overnment should not even think about any increase in petroleum prices at this critical stage when all indicators are not in favor of economy. No sector would be left unaffected if government goes against the ground realities and increases POL prices that is one of the major raw materials for the industry and a must for trade and economic activities. In a statement, the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeshan Khalil said that any increase in POL prices will badly disturb the industrial, trade, economic and social activities. “Government should cut down non-development expenditures in-

stead of dropping petrol bomb on the trade and industry which is already struggling for survival. Industry would not be able to contribute in economic uplift of the country if anti-industry decision is taken”, the LCCI ofSice-bearers said. The LCCI ofSice-bearers said that though oil prices in the international market are on the rise but instead of passing this surge to the trade, industry and masses, government should cut the number of taxes and duties levied on petroleum products. They said that it is not the industrial sector alone but the agriculture sector would also badly suffer. They said that Pakistan agriculture sector is engine of growth. The increase in petroleum prices would increase the input cost of agriculture production as high speed diesel is being used in tractors, tube-wells, harvesters, thrash-

ers and other agriculture machinery. They said that the cost of thermal generation by private sector to go up. The LCCI ofSice-bearers said that Government is producing huge amount of electricity through thermal means and after increase in petroleum prices, prices of electricity would touch new highs. They said that the Lahore Chamber of Commerce and Industry had for the last many years been calling on the concerned government circles to take measures for the promotion of alternate fuels as trade deSicit was fast widening due to heavy imports under the head of petroleum products. They demanded of the government to move wisely and turn down any suggestion of increase in POL prices as who are doing it, they have no know how of the challenges being faced by the trade, industry and economy.

ported by 95 percent of the Business and Industrial community of Karachi. Thanks to our transparent policies and honesty throughout all these years, we have succeeded in transforming KCCI to a self-sustainable and proSitable institution, which became strong enough to purchase a huge land in the vicinity of Clifton from its own Sinancial resources where KCCI’s new building is being constructed which will be completed within the next three years”, he added.

Malik Sohail appointed chairman coordination FpccI usiness leader of the capital city, Islamabad Malik Sohail Hussain has been appointed as Chairman Coordination of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). According to press statement issue after the fourth consecutive victory of United Business Group (UBG), the first meeting of the Executive Committee of the FPCCI paid glowing tributes to the services, devotion and dedication of Malik Sohail and unanimously approved his appointment which amounted to reposing confidence in his abilities and services. Those present in the meeting were Chairman of UBG Iftikhar Ali Malik, Patron SM Muneer, Senator Ilyas Bilour, outgoing President of FPCCI Zubair Tufail and outgoing SVP Amir Atta Bajwa. –CB Report

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Faisalabad ASO seizes non duty paid generator FAISALABAD: The Anti-Smuggling Organization (ASO) of the Customs Department has seized 400-KVA foreign origin generator. The market value of the seized generator is Rs6,000,000 involving duty taxes Rs22,00,000 besides conﬁscated carrier vehicle. Sources told Customs Today, that Deputy Collector Muhammad Rizwan received secret information that a generator is being transported from Karachi to Faisalabad through Mazda truck bearing registration No JX6031 without payment of duty and taxes.

Thursday, January 4, 2018

CUSTOMS BULLETIN

ASo Quetta recovers Irani diesel priced at rs 5 million from three tankers QUETTA wAQAr AhMeD ANSArI www.customsbulletin.com

he Anti-Smuggling Organization Quetta retrieved around 87,400 liter of Iranian diesel worth about Rs5million from three oil tankers. Meanwhile, Lakpass check-post recovered Irani origin mobil oil and tiles valued at Rs1.2million. According to details given by Ashraf Ali, Collector Model Customs Collectorate (MCC) Quetta, that, in pursuance of a tip-off conveyed by Collector of Customs Quetta to Additional Collector MCC Quetta Zubair Shah and Deputy Collector Preventive Division Maqbool Baloch, an attempt will be made to smuggle Iranian origin diesel in Hino trucks. With the assistance of the Frontier Corps, Sibi Scouts, Customs Check-Post Bolan/ Kolpur Darakhshan has intercepted three trucks and retrieved around 87,400 liter of Iranian diesel priced at around Rs5million from three tankers. In another seizure, Ashraf Ali said the Lakpass check-post also recovered Irani origin mobil oil and tiles worth Rs1.2million. The collector appreciated the role of law enforcement

agencies along with the dedication of the staffers of Preventive Section named Superintendent Saeed Baloch, Deputy Superintendent Maqsood

Durrani, Inspectors Shabir Khan, Sobhabt Kurd Essa Khan, Ghulam Husasain Khoso, Masroor Mangel, Aslam Khan, Abdul Qahir, Ishaq George and

Hawaldar Taj Meer. The seized diesel oil and tiles have been shifted to State Ware House (SWH) Quetta and FIRs also registered against the posses-

sors of the smuggled items. The cases have been forwarded to the Investigation and Prosecution Department for further investigation.

Year 2017: ANF makes all endeavours to curb drug traﬃcking RAWALPINDI

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nti Narcotics Force (ANF) has conducted 364 drug abuse prevention activities throughout the country during 2017 to aware the masses about hazards of drugs with special focus on educational institutions. These activities included seminars, lectures, awareness walks, sports events,

tableau, essay competitions, free medical camps, advertisements in print & electronic material and distribution of informational material etc. The statistics issued here on Tuesday showed that the other initiatives included publication of ANF public service message “Say No to Drugs” on public sector advertisements published in newspapers, inscribing ANF awareness message on Gas consumer bills, inscribing ANF awareness message on inland postal envelopes issued by Pakistan Post, displaying ANF awareness

message at Metro Bus Terminals in Lahore and Islamabad/Rawalpindi, inscription of ANF awareness message in NTC regulated telephone bills and printing ANF awareness message on passenger tickets, cargo receipts and publicity cards of Bilal Bus Travel Service. In addition, Higher Education Commission (HEC) has been asked to issue instructions to all public and private universities for arranging awareness raising programmes in order to create awareness against drug abuse for students, teaching faculty and

parents through lectures, seminars, debates, workshops, tableaus, drama shows, sports events, cultural events and exhibiting public service warnings at visible spots at universities’ campuses. Accordingly, HEC has instructed all higher educational institutions to undertake the task. During year 2017, ANF registered 1172 cases, arrested 1338 persons including 27 foreign nationals involved in drug trafSicking, seized 164.07 metric tons of drugs and 56.358 metric tons of prohibited chemical while busted nine domestic and one

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international Drug TrafSicking Organizations (DTOs). The seized drugs comprised 32574.1 Kg Opium, 7132.2 Kg Morphine, 19754.6 Kg Heroin, 102113.193 Kg Hashish, 387.089 Kg Cocaine, 57.07 Kg Cannabis, 1891.517 Kg Amphetamine, 39.937 Kg Methamphetamine, 23.368 Kg Ecstasy Tablets, 14.741 Kg Xanax Tablets, 9.413 Kg Diazepam Tablets, 73.5 Kg Prazolam Tablets, while prohibited chemical include 917.5 Liter Acetic Anhydride, 50594.8 Liter Sulfuric Acid, 4130 Liter Hydrochloric Acid and 715 Liter Acetone.