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ustoms Investigations and Prosecution (I&P) has initiated probe and conducted raids after registering FIRs against accused parties, including M/s Pak Afreedi Goods Transport Adda and M/s Qadri Hajvery Goods on the charges of handling contraband items. Sources told Customs Today that Customs Intelligence, after registering FIRs against the ac-
cused parties, has started raids at the godown of M/s Qadri Hajvery to arrest the culprits. Sources said that on the pointation of Hajvery Goods Forwarding Agency, the customs team seized a huge quantity of foreign origin cigarettes worth Rs 10 million. In the month of April, the mobile squad had seized 560 mobile phones of Samsung brands worth Rs 8.4 million. An FIR was also lodged against the culprits. In the month of May the ASO staff raided the premises of Ghulab Khan and recovered huge quantity of smug-
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gled/non duty paid Split Inverter air conditioners and washing machines of LG brand valuing Rs9 million and a criminal case was also registered against the accused persons. Similarly, ASO staff had recovered foreign origin curtain cloth having weight 6555 kilograms from M/s Pak Afreedi Goods Transport Adda worth Rs4 million. Likewise, two narcotics cases were also reported by Customs Preventive staff posted at GPO wherein cocaine and marijuana was seized from an incoming parcels and FIRs have been lodged accordingly.
Multan Customs collects Rs 4,233.008 million duties, taxes
ASO seizes goods, vehicles worth Rs 140m in three months:DC Raza
Telecos thank Anusha Rehman for tax relief in budget 2017-18
LHC rejects over 100 applications against Anti-Dumping Duty
Customs Port Qasim detects 12 cases of mis-declarations
The Customs has made revenue collection of Rs 4,233.008 m throughout the month | See pAge 02 |
ASO, under the supervision of Collector Zulfikar, has launched various operations | See pAge 03 |
Cellular companies operating in the country have thanked Anusha for making | See pAge 04 |
LHC has rejected over 100 applications againsttheAnti-DumpingDutyonimports | See pAge 14 |
Customs Collectorate PQ is keeping strict vigilance over the mis-declaration | See pAge 16 |
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Faisalabad Intelligence to auction goods, vehicles on June 14 Wednesday, June 7, 2017
National
FAISALABAD: The Customs Intelligence and Investigation has announced auction of goods and vehicles lying in the SWH on June 14. The goods/vehicles, which would be auctioned, include generators, printed plastic papers, cloths, bed sheets, curtain cloths, dyed brown shade knitted Sherpa eece fabric, micro ďŹ ne tag pins, loop locks, zips, Samsung LED TVs, Sony Bravia LED TVs, ceramic tiles of Kasha Eram brand (made in Iran), cigarettes, Toyota Corolla car and Toyota Fielder car.
Multan customs collects rs 4,233.008 million duties, taxes
fTo adjourns case of M/s general pipe & Machinery Stores till next date LAHORE
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he Federal Tax Ombudsman (FTO) heard an appeal filed by M/s General Pipe & Machinery Stores (Private) Limited against Regional Tax Office (RTO) Lahore until the next date. According to the details, FTO Mian Munawar Ghafoor heard the case number FTOLHR/0000125/17 in which the counsel for the appellant argued that the RTO had failed to release the tax refund of the last two years claimed by the company. He said that the RTO collected excessive tax from, Muhammad Shah Jahan Khan M/s General Pipe and Machinery Stores (Private) Limited during the last two years. The concerned commissioner did not pay the refunds after the passage of reasonable time. At the end, the complainant decided to approach the FTO seeking interference in this case. The counsel appealed the FTO advisor to direct the RTO to clear the refund claims. The counsel further said that the delay in issuance of refunds put burden on the taxpayers, he said, adding that the CRTO Lahore should make audit of the cases and release the extra amount collected by it from the taxpayer.
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www.customsbulletin.com he Customs Collectorate has made revenue collection of Rs 4,233.008 million throughout the month of May in the on-going Riscal year 2016-17. Sources told Customs Today that the Customs Collectorate has successfully attained the assigned revenue collection task of customs duty for the month of May. Multan Customs has done collection of Rs 1041.868 million against the assigned target of Rs 903.480 million in terms of customs duty for the duration of May 2016-17. The Collectorate of the Multan Customs posted 3% excess growth in collection of customs duty for the period of May. The Customs Collectorate Multan was able to fetch Rs917.146 million under the head of customs duties against the assigned target of Rs1509.860 million during the corresponding period of the fiscal year 2015-16.The collection of customs duty was improved due to surge in the import clearances of High Speed Diesel (HSD) in May 2017. The Collectorate of Multan Customs collected sales taxes of Rs3165.161 million during the period of May against the assigned revenue task of Rs4451 million. The sales tax collection has been reduced due to decrease in the tax ra-
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tio of HSD import clearances in May. On the other hand Multan Customs collected Rs6521.965 million in the corresponding period of May 2015-16. Sales tax collection has been dropped suddenly in the current Riscal year due to adjustments in the tax ratios by government.
The collection of federal excise duty (FED) made by Customs Multan was Rs11.565 million against assigned revenue collection of Rs.15 million during the month of May. Whereas Rs14.106 million were collected under the head of federal excise duty (FED) during the corre-
sponding period of May 2015-16. Multan Customs has collected Rs.13.541 under the head of income tax and its assigned revenue task was Rs20 million for the month of May. Multan Customs has made overall tax collection of Rs4233.008 million during the month of May.
ASo impounds 15,000 liter diesel along with tanker A
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nti-Smuggling Organization (ASO) Hyderabad has impounded 15,000 liters of smuggled HSD Iranian diesel along with an oil tanker. The market value of the seized Iranian diesel is Rs675000 involving duty and taxes of Rs335407 during an operation near Hyderabad bypass. Diesel was being transported from Karachi to
Tando Muhammad Khan. Sources told Customs Today that Customs Collector Akhlaq Ahmad Khattaq ordered the curbing of smuggling. Additional Collector Hyderabad Rehmatulah Vistro received a tip-off regarding the smuggling of Iranian diesel. He formed an ASO team comprising Superintendent Ghulam Shabbir Puhlpoto, Inspectors Mirza Asad Uddin, Iqbal Mughal, Imdad Abro, Muhammad Abid Khan, Mushtaq Ali Lakho, Sepoys Ghulam Sarwar, Ayoub, Luq-
man, Abdul Razaq, Saddique Sadiq Khaskheli, Abid, Drivers Sher Akbar, Ajaz Saddam, jawaid Mashqoor, Nisar Ahmed and others. The team intercepted the tanker with registration No-TTB-687 near Al Falah petrol pump Hyderabad bypass and recovered 15,000 liters of smuggled HSD Iranian diesel. The market value of the seized diesel is Rs675000 involving duty and taxes of Rs 335407 including oil tanker worth Rs300000 during above said period.
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NAB opens inquiry against Buner district forest officer PESHAWAR: The Regional Board Meeting of National Accountability Bureau (NAB) KhyberPakhtunkhwa has authorised inquiry against District Forest Officer (DFO) Buner Hashim Khan in alleged corruption case. The officer was alleged to have illegally purchased land measuring six kanals on exorbitant rates through private negotiation for the construction of official and residential buildings for DFO Buner and his staff. Similarly, construction on the subject land was also carried out on high rates without following tendering process thus caused huge loss to national exchequer.
Wednesday June 7, 2017
National
Hyderabad ASo seizes 109 nDp cigarettes worth rs3.3m
ASo seizes goods, vehicles worth rs 140m in three months:Dc raza
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nti-Smuggling Organization (ASO) Hyderabad has confiscated foreign origin non-dutypaid 109 cartons of different brands of cigarettes including Pine, Royal Business and Reds valued Rs3.3million during a recent action on the National Highway Hyderabad. Sources told Customs Today that ASO Additional Collector Rehmatulah Vistro deputed Deputy Collector Mushtaq Shani, Superintendent Ghulam Shabir Pulphoto, Inspectors Mirza Asaduddin, Iqbal Mughal, Abid Ahmed Khan to check the vehicles under an anti-smuggling campaign which was started by the order of Collector Akhlaq Ahmad Khattaq.
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fiA finds illegal money exchange SIALKOT
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team of Federal Investigation Agency (FIA) raided a jewellery shop and unearthed an illegal money exchange located in Sialkot city’s congested Phullaan Wali Gali locality. FIA Divisional Deputy Director Khalid Anees said that the FIA also recovered big amount of cash in different national and foreign currencies. He said that the FIA arrested shop owners Iftikhar Ahmed and Nawaz, who had been running the illegal money exchange in their shop. Meanwhile, it also arrested a notorious human trafficker namely Samiullah alias Mohsin from village Maallo Mahey-Sattokey, Daska tehsil. The accused would send people abroad illegally after getting big amount from them. The FIA sent the accused behind bars after registering separate cases.
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he Anti-Smuggling Organization (ASO), under the supervision of Collector of Customs Preventive ZulRikar Ali Chaudhary, has launched various operations to curb drug trafRicking, provide facilities to passengers and improve the process of imports and exports. These views were expressed by Deputy Collector of Customs Preventive Muhammad Moazzam Raza while talking to Customs Today here. He said that though general policy guidelines were issued to streamline the operations of all the Rield formations of the collectorate, special emphasis was put on revamping of the ASO to protect the city and its adjacent areas from drug trafRickers. “ASO is reorganized by appointing new, competent and energetic staff while new checking/patrolling squads have also been formed to impound non-customs paid vehicles and to streamline the much sensitive intelligence gathering process to curb smuggling,” the deputy collector informed. These measures have, deRinitely, created a deterrence impact on the people involved in the smuggling of different kinds of high valued goods and articles and it is quite evident from the recent remarkable performance of the ASO’s whole team, Raza said, adding that the ASO staff
has seized goods and vehicles worth over Rs 140 million during the period from March to May 2017. He shared that the ASO staff has speciRically focused on the interception of smuggled, non duty paid luxury vehicles and during the said period ASO successfully impounded 30 vehicles having value more than Rs 40 million. During this tenure from March to May, 2017 the staff has showed tremendous performance. During
He shared that the ASo staff has specifically focused on the interception of smuggled, non duty paid luxury vehicles and during the said period ASo successfully impounded 30 vehicles having value of more than rs 40 million
nAB nabs two accused in fraud case
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ISLAMABAD
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ational Accountability Bureau (NAB) has arrested Irfan Ali Shah and Syed Awais Ahmad Shah from Lahore in Rs35.23 million fraud case. According to NAB spokesman, the accused persons were allegedly involved in luring general public, socially and morally. They collected money in ad-
vance from general public to give products i.e. China bikes, UPS, LED etc at some later date. They defrauded and vanished away after collecting huge money from public. Accused Irfan Ali Shah was the Director M/s Eagle Trading (Pvt) Ltd. He was also the spiritual leader (Peer) of Makoana, Faisalabad. The co-accused Syed Awais Ahmed Shah also established some franchises on behalf of M/s Eagle Trading (Pvt) Ltd.
NAB Lahore launched verifications against the said accused in 2015 against a complaint received through intelligence sources and a proper inquiry was launched on the directives of DG NAB Lahore which was converted into investigation in 2016. After collecting evidences, National Accountability Bureau Lahore arrested the accused persons and presented them before Accountability Court for acquiring of their physical remand.
the month of March, the ASO staff raided the godown of M/s Qadri Hajvery Goods Forwarding Agency, Railway Godown, Badami Bagh, Lahore and seized huge quantity of foreign origin cigarettes valuing Rs10 million, he highlighted informing adding that the ASO mobile squads had seized 560 mobiles of Samsung brands valuing Rs8.4 million during the month of April and lodged FIRs against the culprits.
fiA arrests agent for defrauding people he FIA has arrested a proclaimed offender and an agent for defrauding with people. According to FIA spokesman, Kazim Mushtaq received Rs 2,700,000 from nine complainants for employment in Oman and he also received Rs 3,450,000 from Qaisar Gulzar for job in Australia while the accused also received Rs 1,800,000 from Ishaq Ahmad for an employment in Oman.
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Rs3,358.838m allocated for forest sector LAHORE: The Punjab government has allocated Rs 3,358.838 million for forest sector in the budget 2017-18. According to the budget documents, Rs 81.147 million have been allocated for ‘Forest Direction’, Rs 2,270.814 million for Regional and Field Establishment, Lahore, Rs 1,006.877 million for Forest Conservancy and Works. Also, Rs 2,145.477 million will be spent on salaries of the employees, whereas remaining amount of Rs 1,213.361 million have been reserved for non-salary expenditures.
Wednesday June 7, 2017
Business
Telecos hails Anusha for tax relief ISLAMABAD
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ellular companies operating in the country have thanked Minister of State for Information Technology and Telecommunication Anusha Rehman for making concerted efforts to promote the telecom industry in the country. In a joint letter written to the minister, the telecom companies including PTCL, Jazz, Telenor, Ufone and Zong thanked the minister for extending outstanding support to the industry in seeking relief on various tax issues in the Federal Budget 2017-18.
giTA train to Afghanistan restored LAHORE
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They said it was the result of the collaborative efforts made by the Ministry and Pakistan Telecommunication Authority (PTA), under the leadership of Anusha Rehman,
‘pakistan’s emerging market status first step toward becoming Asian Tiger’
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akistan Railways has restored Goods in Transit to Afghanistan (GITA) train after five years of suspension. The train used to transport freight to Afghan traders through Peshawar and it was suspended in 2012 due to fewer resources. PR chairperson Parveen Agha inaugurated the train from Karachi and this train would provide service of consignment to Afghan traders from Karachi to Peshawar. The reinstatement of the GITA is the vision and program of Saad Rafique, according to which freight sector of PR is becoming sturdier.
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that the Industry had been granted some relief on Withholding Tax and Federal Excise Duty. They said the telecom industry has always been encouraged by the
present government’s progressive and empowering support, which is acknowledged by all stakeholders. “This is just the start of creating a positive enabling environment for the sector. There are still some outstanding taxation issues that will require us to work together. As you very kindly offered, and as the Finance Minister stated during his budget speech, we request your continued support for raising the harmonization of tax issues with the provinces.” They said the model of publicprivate collaboration, set up by the Ministry, would be a source of mutual benefit to the government, the industry and ultimately to the people. They vowed to work together and continue the journey of creating a flourishing ‘Digital Pakistan.’
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akistan’s re-entry into the emerging market block, achieved with an amazing speed due to China Pakistan Economic Corridor (CPEC), is a Rirst step towards becoming an Asian Tiger that would lure wider class of investors, injecting huge amounts of money into the country. According to an article appeared in Tokyo-based magazine The Diplomat, Pakistan is the Rirst country to
get the frontier-to-emerging market promotion in MSCI’s latest review after Qatar and the United Arab Emirates several years ago. Experts expect global funds to come pouring into Pakistan’s stock markets as a result. Pakistan’s stock market has made history, giving a thrilling lesson to global investors and businesspeople who are wondering why money is Rlowing into this country despite many challenges. Indeed, economic growth is stabilizing Pakistan’s political atmosphere in Karachi, Balochistan, and the Federally Administered Tribal Areas (FATA).
The upgrade puts Pakistan in good company. Other members of MSCI’s Emerging Markets Asia Index include China, India, Indonesia, Malaysia, the Philippines, South Korea, Taiwan, and Thailand. This shift will attract foreign investment into Pakistan. The chief reason behind Pakistan’s emerging status is China-funded loans and investments made under the umbrella of CPEC, with Pakistan following pattern of Argentina and Vietnam. The CPEC, as the Rlagship of China’s Belt and Road project, helped rapidly convert Pakistan into an Asian “emerging market
online exporters’ directory launched KARACHI
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rade Development Authority of Pakistan (TDAP) has developed its first online Pakistan Exporters’ Directory. The directory is now on stream and can be accessed both through TDAP’s website and direct search using the link www.pakistanexporters directory.gov.pk. The directory provides an extensive online database of Pakistani exporters to assist foreign buyers in sourcing their requirements from Pakistan. Exporters’ data for the purpose has been extracted from Pakistan Customs record for the year 2016 to ensure authenticity and credibility. The Directory provides an elaborate search facility based on three key parameters that include HS Code, Product Category, and Company Name. Companies in the directory have been placed into large, medium, and small categories based on their annual export turnovers. This will facilitate foreign buyers and local companies in establishing mutually beneficial communications and linkages. The directory is also expected to promote export companies in Pakistan by making available relevant details regarding their products, export performances, and profiles to foreign buyers.
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punjab govt cuts gST to 5 percent for construction industry LAHORE
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he Punjab government has cut GST on construction services from 16 per cent to 5pc as well as merged separately charged CVT, stamp duty and registration fee on properties to facilitate customers. The government has withdrawn exemption given in sales
tax on internet services worth Rs1,500 and above packages. However, the exemption on internet packages under Rs1500, primarily being used by students, will continue as such. The Punjab government has also abolished exemption on GST in furnishing supply contracts to bring in the tax net all companies and firms concerned. The government was earlier giving exemption on furnishing supply con-
tracts up to Rs50 million. However, the companies and firms involved in the furnishing supply contracts were evading taxes by splitting their bills below the ceiling of Rs50 million. The government has also abolished the registration fee for all new business firms. The exemptions and reduction on sales tax on various services have been introduced in the Punjab Finance Bill 2017 announced by the
provincial finance minister Dr Ayesha Ghaus Pasha soon after her budget speech in the Punjab Assembly. The finance bill will come into force from July 1, this year. With a mindset that no new taxes be imposed but widen the tax net, the Punjab government has enhanced its provincial revenue target from current fiscal’s Rs280 billion to Rs348.3bn for the next 2017-18 financial year. Under the direct taxes head, the
government aims at collecting Rs230.98 billion as compared to this year’s target of Rs184.4 billion. Under non-tax revenue head, the government aims at collecting Rs117bn as compared to current fiscal’s Rs95bn. The government has slashed 11pc GST on construction services, hoping that underreporting in the construction sector will be minimised and would bring in some Rs3bn more tax revenue.
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ederal Board of Revenue Chairman Dr Mohammad Irshad has rejected the demand of zero rating on import of powder milk by dairy industry but said that a mechanism could be worked out to reach an equitable solution. Dr Irshad was brieRing the Senate Finance Committee which met under the chairmanship of Senator Saleem Mandviwala at Parliament House. In the committee meeting, representatives of the dairy industry, cane industry, food industry, stationery industry and the cable manufacturing industry discussed the problems in details. Representatives of cane industry said that there was only one company in the country and they had to pay heavy duty on the import of raw material. They suggested the duty on import of raw material should be decreased and promote the
ustry ne ind a c f o tives one senta s only a w repre e ey er and th hat th t y r d t i a n s u the co n the ny in a p duty o m y v co a e pay h rial mate had to w a r f to impor
local industry. Dairy industry representatives told the committee there are 4,000 milk collection centers in the country and their proRit rate is very low. The business of packing milk is going down and if government did not announce relief for dairy industry, it is expected that many centers and factories will be closed down. They demanded that zero duty to be imposed on the import of the Milk Powder. Milk packaging companies providing healthy and hygienic milk. They offered that government may check quality of our milk and check can be made from Dutch companies. Representatives of Stationery industries told committee that industries of making pencil, rubber and stationery is facing losses. They told committee that recently K Electric has imported cable of Rs 4 billion. The committee directed FBR to give every possible relief to the cable industry. There are four ghee mills in FATA and PATA which sell their ghee in KPK. The ghee industry in FATA and PATA has eight rupees per liters tax exemptions, we cannot compete with them in any way or be
given discounts. The committee directed the FBR and representatives of Ministry of Law and Justice that they jointly Rind out the solution of the problem. Representatives of food industry recommended that the same facilities and privileges are given to the local investors which are being given to the Chinese investors on the basis of CPEC agreement. The committee approved the proposal and directed to add the same in the budget recommendations. Senator Talha Mehmood said that Price Control Authority must be strengthened for the provision of basic services at reasonable prices to consumers. Meeting of Senate Finance committee attended by Senator Ilyas Ahmed Bilour, Talha Mehmood, Mohsin Khan Leghari, Osman Saifullah Khan, Mohsin Aziz Ali Agha, Chairman FBR Dr. Mohammad Irshad , Member IR policy FBR Dr. Mohammad Iqbal , Member Customs Zahid Khohar, Joint secretary Ministry of law and other high ofRicials.
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Wednesday, June 7, 2017
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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
economy vs peace
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akistan is the second largest economy in South Asia after India and has been achieving new successes despite border dispute Afghanistan, cross border firing on the line of control with India and growing tense relations with best friend of the past, Iran. The government is making all out eorts to achieve the fastest growth rate in the regional economies as China’s interest in the Pakistani economy is also growing and the size of its investment is increasing with deep economic and cultural cooperation. Both the countries are working to establish peace, fight terrorism together and resolve geographical issues through negotiations. Sobriety remained the basic component of the Chinese foreign policy toward Pakistan as well as India. The country has concentration more on the economy than regional issues and it has successfully kept a balanced approach in its relations with the countries of South Asia. On another note, India’s foreign policy is marred by ambiguity and contradictions and has border and water disputes with every country in the region. Once peace is restored, it will be beneficial for both the countries. Finance Minister Ishaq Dar, who is the driving force behind the economy, is considering tax cuts and a package of relief for agricultural sector which has performed well during the outgoing fiscal year. In the multi-billion dollar federal budget for the fiscal year beginning in July, Dar has also proposed a plan to enforce a zero-rated sales tax regime to boost exporters of textiles and leather products. It is hoped that cut in taxes will encourage foreign investors to avail opportunities in surgical and sports goods manufacturing as well as in growing auto industry. The gross domestic product of the country has been projected to grow at a rate of 5.7 percent and the economy has crossed $300 billion mark. If the government achieves the target, it will be a great success for the nation. The government is planning to spend Rs 1.68 trillion on development of infrastructural projects, including the construction of buildings, roads, dams and ports. The government is also working on various projects to enhance power generation capacity, as the persistent load shedding is haunting the industry.Unfortunately, Pakistan has shed points in world business confidence index and it is plunged to a six months low.
implications of rising debt burden A
LAHORE
Dr AfTAB AfZAL
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ccording to newspaper reports, the external debt of are reaching $79 billion by the end of fiscal year 2016-17 amid challenges of a fragile external payments position and growing political instability in the country. The government has planned to offload debt to GDP ratio by 50 percent in one and half decades, as gross public debt crossed over Rs 2 trillion and net public debt by Rs1.9 trillion this fiscal year. Experts hope the government will use its potential to bolster macroeconomic stability and will put
the debt to GDP ratio on a downward trajectory in the years to come. The public debt is expected to be reduced by 60 percent of the GDP during the outgoing fiscal year and the Fiscal Responsibility and Debt Limitation (FRDL) Act has been amended by defining the ceiling for the budget deficit at four percent of the GDP. During first three quarters of the current fiscal year, the gross public debt has been recorded an increase of Rs 1.19 trillion. An increase in external debt has contributed Rs73 billion into the public debt. The financial managers reduced the average cost of gross public debt by 40 basis points during first six months
of current fiscal year thanks to the implementation of the Medium Term Debt Management Strategy. By issuing Sukuk bonds, the government also mobilized external inflows from various development partners during the first nine months of the current fiscal year. Reports suggest the government issued fresh guarantees of Rs 368 billion during first half of current fiscal year whereas average cost of domestic debt portfolio has been reduced by 50 basis points during the period. In fact, the government is beating about the bush to maintain fiscal stability by artificial arrangements. However, until it is able to generate money by
stimulating industrial and agriculture sectors of the country, the makeshift arrangements would not work. The exports have been declining as persistent energy crisis are haunting the industry which is unable to produce export surplus. Burdening the country with debts will adversely affect the economic growth. The debt burden reached 66.5 percent of the gross domestic product from 63.5 in four years. Any debt management strategy to enhance debt servicing capacity will simply not work without the real growth in the industrial sector and that is the area of concern. It is hoped the government will do its best to settle the mess soon.
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Arkansas’ May revenues exceed revised forecast LITTLE ROCK: Arkansas’ revenues for May were up 0.3 percent from a year ago and 20.5 percent above the recently revised forecast, state finance officials said Friday. Gov. Asa Hutchinson announced in late April he was cutting $70 million from the state budget for the current fiscal year because revenues were lagging below forecast. On May 2, the state Department of Finance and Administration officially revised the forecast to reflect that reduction and lowered its revenue projection for the fiscal year that begins July 1 by $43 million. Net available general revenues in May totaled $339.2 million, which was up $1 million from a year ago and $57.8 million above the revised forecast. Individual income tax collections last month totaled $209.4 million, which was down $7.6 million, or 3.5 percent, from May 2016 and $11.3 million, or 5.7 percent, above the revised forecast.
Lcci calls for methodology to reduce fiscal deficit LAHORE
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he Lahore Chamber of Commerce & Industry has called for a new and sustainable methodology to defeat the challenge of budget deficit instead of depending on conventional ways like huge borrowing or burdening the existing taxpayers. In a statement issued here, the LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan said that budget deficit is one of the major economic indicators and unfortunately, country’s budget deficit always shown a discouraging image. They said that for ever and a day governments chosen an easy way of borrowing and burden-
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ing the existing taxpayers to bridge the gap between spending and revenues. Resultantly government is allocating a major part of the budget for debt servicing. “Pakistan recorded a budget deficit equal to 4.90 percent of the country’s GDP in 2016. Government Budget in Pakistan averaged 1.84 percent of GDP from 1990 until 2016, reaching an all time high of 8.80 percent of GDP in 1990 and a record low of -8.80 percent of GDP in 2012”, they added. The LCCI office-bearers urged the government to cut its non development and administrative expenditures to reduce fiscal deficit. They said that administrative expenditure for running the government affairs is a major part of non development expenditure that must be controlled. They said that government’s grants are also another reason of public expenditure.
Wednesday June 7, 2017
Chambers
Businessmen playing vital to strengthen national economy: icci Z
LAHORE
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ulRiqar Haider, Chief Commissioner, Islamabad Capital Territory visited Islamabad Chamber of Commerce & Industry and said that business community was playing an important role in the development of the economy and assured that he would play role to resolve their key issues. He said ICT Administration was fully cognizant of the issues being faced by the traders in F-8 Markaz due to the existence of district courts. However, Islamabad High Court and district courts from F-8 would be shifted in phases and this process would take some time. He said action against beggars in Islamabad has been initiated to save the citizens from problems. He said ICCI proposal for constitution of Reconciliation Committees in police stations and CPLC would be given due consideration. He said ICT magistrates were visiting business premises to inspect the quality of products. However, he said if any businessman has any genuine complaint against
their behavior or fines, he should inform him in writing so that remedial measures could be taken. He said market committees should cooperate in controlling prices in the month of Ramadan. He said a new design to provide access to Islamabad High Court was under consideration and its implementation would resolve the issues of traders of concerned area. He said business community should use its influence for promulgation
of new rent law while ICT Administration would accommodate their point of view in the draft law. He assured that all highlighted issues would be given due consideration to provide remedy to the traders and industrialists. Speaking at the occasion, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry highlighted the various issues of business community. He said existence of district courts in F-8 was a
women entrepreneurs encouraged by response of eu market: iwcci KARACHI
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he outcome of the recent visit of women entrepreneurs to Europe proved to be very encouraging therefore we have decided to hold exhibition in different countries annually to introduce Pakistani products,” a business leader said. Women entrepreneurs linked to Islamabad Women’s Chamber of Commerce and Industry (IWCCI) recently visited Hungary and Italy where they were delighted to know about the demand for Pakistani garments, jewellery, handicrafts etc, said Samina Fazil, founder President, IWCCI. She said, “En-
couraged with the response of the market, we have decided to hold exhibitions in different European countries to introduce Pakistani products which are already in great demand.” Our garments, clothing, jewellery and handicrafts are inferior to none but not available in the markets in Europe while the shops are full of Indian items that are no match to Pakistani products, she said. It is the responsibility of the government as well as the private sector to promote Pakistani products that are needed in Europe, said added. Samina Fazil said that Pakistani Ambassador in Hungary Muhammad Syrus Sajjad Qazi and our Ambassador in Rome Nadeem
Riaz as well as the Commercial Counsellor Saira Imdad Ali extended all out cooperation to make our visit a success. They arranged our meeting with businessmen, informed about the market dynamics, latest trends and helped us arrange exhibitions to promote Pakistani products which is laudable, she added. She said that our plans for promotion of trade links in areas of common interests and exploring avenues of export of made in Pakistan items has proved successful encouraging every member of the delegation that included Mumtaz Akhter, Munazza Arif, Shahida Mazhar, Rizwana Atif, Naadia Sami, Saadia Hassan, Anjum Arif and Safina Insaf.
security risk for honorable judges and lawyers while the traders and residents of the area were also facing great problems. He said district courts should be shifted as soon as possible to avoid all such issues. He said markets in Islamabad were facing parking issues and Chief Commissioner being board member of CDA should play role in resolving this issue. He said due to absence of a new rent law, traders were feeling insecure and ICT Administration should play role in early enactment of new rent law. He said Reconciliation Committees should be formed in police stations and CPLC should be revived that would help in resolving police related issues of business community and the citizens. Khalid Malik, Senior Vice President, Tahir Ayub Vice President ICCI, Zafar Bakhtawari, Ejaz Abbasi, Sheikh Amir Waheed, Sheikh Pervez, Yousaf Rajput, Asad Rasheed, Babar Chaudhry, Khalid Chaudhry, Ms. Nasira Ali, Qazi Ilyas, Nadeem Mansoor and representatives of various markets also highlighted their key issues for the attention of Chief Commissioner ICT.
iran, Turkey sign trade deals worth $100 million ran’s Social Security Investment Co has signed contracts worth $100 million with Turkish firms on implementation of construction projects and modernization of Arvandan shipbuilding facilities. The implementation of the contracts is worth $100 million that will be provided by the Turkish side. The delivery document of an Iranian-built catamaran-type ship was also signed between senior managers of Iran’s Social Security Investment Co and a Turkish investment company. The contract on the construction of the catamaran vessel high-speed double-hulled passenger watercraft with an aluminum body is about $10 million worth. –CB Report
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FBR enhances tax rate for loss declaring companies by 25% ISLAMABAD: Federal Board of Revenue (FBR), Through Finance Bill, has increased tax rate for loss declaring companies by 25 percent. Through Finance Bill, 2017 amendment has been introduced to Section 113 of Income Tax Ordinance, 2001. The minimum tax under this section has been increase to 1.25 percent from one percent. Tax experts said that the enhancement in minimum tax rate on turnover would have negative impact on companies genuinely facing losses.
Wednesday June 7, 2017
Islamabad commissioner-ir naheed Azhar’s performance allowance restored
M/s fauji fertilizer contests show cause notices issued by fBr
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he performance allowance of Naheed Azhar, a BS-20 officer of Inland Revenue Service, has been restored. The performance allowance of the officer, presently posted as Commissioner-IR (HRM), Large Taxpayers Unit, Karachi, has been restored with effect from May 30, 2017. Meanwhile, Jawhar Ali Shah, a BS18 officer of Inland Revenue Service, selected through the process of internal job posting (IJP), has been granted performance allowance. The officer, presently posted as Deputy Commissioner, IR, Regional Tax Office, Abbottabad, has been granted performance allowance with effect from May 19, 2017. The grant of performance allowance will be governed through the terms and conditions laid down vide Circular No. C.No. 6(96)S(BIC)/2013-14 dated 06.03.2015 and will be discontinued in case prescribed terms and conditions are not fulfilled within one month from the date of issuance of this notification.
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More individuals given relaxation in filing tax returns ederal Board of Revenue (FBR) has announced more individuals who have been given relaxation in filing income tax return by proposing amendment to Income Tax Ordinance, 2001. Through Finance Act, 2017, it is proposed to amend Sub-Section 1 of Section 115 which allowed certain persons not required to furnish a return of income, who are included: (a) A widow; (b) an orphan below the age of twenty-five years; (c) a disabled person; or (d) in the case of ownership of immovable property, a non-resident person. The persons mentioned above are allowed exemption from filing return. –CB Report
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he Appellate Tribunal Inland Revenue (ATIR) has dated in ofRice the hearing of a case submitted by M/s Fauji Fertilizer Company Limited following submission of record. The ATIR cancelled the hearing of a case submitted by M/s Fauji Fertilizer Company Limited. Earlier the tribunal’s bench had issued notices to parties in the case. The bench asked the lawyers to ensure their presence before the bench in coming days for arguments. ATIR Account Member Dr Ghulam Mujtaba Bhatti was hearing the matter. This case was remanded back to the tribunal by the Islamabad High Court (IHC). M/s Fauji Fertilizer Com-
pany Limited had contested show cause notices issued by the Rield ofRices of Federal Board of Revenue (FBR). M/s Fauji Fertilizer Company
Limited had challenged recovery of issued to it in head of outstanding income tax by the LTU, Islamabad. M/s Fauji Fertilizer Company Limited had
submitted the department had issued the demand for the tax year 2014 in head of income tax under provisions of Income Tax Ordinance, 2001.
fBr collects rs10b wHT from sellers of property T
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he Federal Board of Revenue (FBR) has collected over Rs 10 billion through 38,034 transactions under section 236K of withholding tax from sellers of immovable property in 11 months of the current Rinancial year till May 31. Sources told Customs Today that during the last Rinancial year, the FBR collected Rs 5.38 billion in 44,288 transactions in the same period under section 236K. The FBR has now collected double amount in the current Rinancial year as compared to the last year under the same head. Total difference between current Rinancial year and last year collected amount is over Rs 4.674 billion while 6,254 transactions are less as compared to last Riscal year. In July 2016, the FBR collected Rs 255.541 million in 1625 transactions while during last Rinancial year in the same month the FBR collected Rs 312.494 million in 2,565 transactions.
In August 2016 (current FY) FBR collected Rs.617.676 million through 2,675 transactions while in August of FY 2015 FBR had collected Rs 155.966 million in 3,623 transactions. In September 2016 FBR col-
lected Rs 674.169 million through 2,696 transactions while last FY in same month FBR had collected Rs 359.108 million in 3,061 transactions. In October 2106 FBR collected Rs 784.144 million in 2,784 transactions while last FY this
amount was Rs 537.126 million in 3,649 transactions. In November 2016 FBR collected Rs 1,019 million in 3,965 transactions while last Riscal year of same period, revenue was Rs 393.714 million in 3,549 transactions.
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Automatic stay in sales tax recovery allowed on 25% payment KARACHI: In order to give relief taxpayers, it has been proposed that automatic stay will be available in sales tax recovery if a taxpayer pays 25 percent of demand. The Finance Bill 2017 proposed to add a proviso to Section 48 of the Sales Tax Act, 1990, which deals with the recovery of arrears of tax whereby the taxpayer would have an option to avail automatic stay after payment of 25 percent of the tax due in the cases where the appeal is filed before the Commissioner Inland Revenue (Appeals) under section 45B of the Act. The power of the Commissioner Inland Revenue (Appeals) to grant stay for a period of maximum thirty days remains intact in pursuance of Subsection (1A) of Section 45B of the ST Act.
sput M/s Liberty power Tech moves SHc mou against forced recovery of KARACHI
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/s Liberty Power Tech Ltd approached the Sindh High Court (SHC) challenging the impugned notice for forced recovery of disputed amount. The notice was issued by Deputy Commissioner Inland Revenue Unit-III, Zone-IV, LTU, Karachi. Counsel for the petitioner stated in his constitutional petition that petitioner is registered with the Federal Board of Revenue, having NTN and fulfilling all the liabilities properly, never involved in any tax evasion case. Counsel further stated that, however Deputy Commissioner Inland Revenue Unit-III, Zone-IV, LTU Karachi, passed an order and demanded the impugned recovery which he already paid according to the law.
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He further informed the court that respondent issued a demand notice without lawful authority and did not mention any concrete reason therefore he moved the Commissioner Inland Revenue Appeals-I Karachi and filed an appeal along with a stay application, which is still pending for disposal. According to the petitioner, during the pendency of such appeal, respondents issued the notice for forced recovery through petitioner’s bank. Citing to Secretary, Ministry of Finance, Chairman Federal Board of Revenue (FBR), Commissioner Inland Revenue AppealsI and Deputy Commissioner Inland Revenue Unit-III, Zone-IV, LTU Karachi, as respondents, importer pleaded with the court to kindly restrain them from taking any coercive measures till the final decision and court may also direct the CIR Appeals to decide its appeal within a reasonable period.
Wednesday June 7, 2017
Karachi
court dismisses bail pleas of suspects involved in donkey hides smuggling case T
govt brings down tax on pSX services from 8% to 2 percent
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ustoms (Taxation & AntiSmuggling) Court Judge Syed Faiz Rasool Rashdi dismissed the bail applications of a Chinese Citizen Tu-Zhong Xiao S/o Tu Shao and a Pakistani lady Afshan w/o Ehtisham due to a key role in attempting to smuggle donkey hides worth Rs125million into China via Karachi from Lahore. During the hearing, abovementioned accused appeared before the court along with their counsels who argued that their clients are innocent and were falsely booked in this case therefore court may grant their bails till the Rinal verdict of the case, however court rejected their bails due to a key role in this case. It may be mentioned here that accused Muhammad Bilal S/o Salamat Ali, Muhammad Farooq S/o Muhammad Qasim and Muhammad RaRique alias RaRi are absconders in this case and court has issued their non-bailable warrants. According to the prosecution, local police recovered 4,986 donkey hides which were packed into 642 bags. The operation was carried on
a shop located at Gulistan-e-Jauhar, Block-12, and the said Chinese was arrested. As per interim challan, investigation ofRicer has informed the court that China is using donkey hides to produce a medicine named Ejiao, which is useful in blood-related disease. The Ejiao is obtained from donkey’s gelatin. Due to this smuggling, Pakistan is facing shortfall in foreign exchange whereas its meat is also served to people in the country.” Meanwhile, Customs Court Judge Syed Faiz Rasool Rashdi issued a non-bailable
warrant for accused Muhammad Muamar Junaid booked in a mis-declaration and evaded the duty and taxes of Rs2.7million. During the hearing, accused Khurram Inayat S/o Inayat Ali was present on the interim bail, however accused Muhammad Muamar Junaid was absent without any intimation notice therefore the court issued his nonbailable warrant. The court also issued a notice to his surety and directed the investigation ofRicer to submit a compliance report along with a Rinal charge-sheet.
he federal government has decreased the tax rate on services offered by the Pakistan Stock Exchange (PSX) from eight per cent to two percent. According to the budget document for the fiscal year of 201718, “To further improve the performance of the stock exchange it is being subjected to reduced rate of minimum tax at 2.0 percent on its services.” Presently, services rendered by PSX are subject to eight percent minimum tax, which results in an effective tax rate much higher than the prevalent corporate tax rate. Government reduced the corporate tax rate to 30 percent in the budget for the next fiscal year. Under the Finance Act 2015, the tax deductible at the rate of 8.0 percent was made minimum tax for providing or rendering services by all the service sector companies. This minimum tax treatment adversely affected the profitability of the bourse, which is paying higher tax as compared to what it would pay otherwise if it were required to pay tax on profit at an applicable corporate tax rate. However, after negotiation a reduced rate of minimum tax of 2.0 percent.
customs tribunal restores licence of M/s Lintaz industries
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ustoms Appellate Tribunal Bench-III directed the Customs Department to restore applicant’s export oriented unit (EOU) licence from the date of its suspension and allow him to start his production and export in terms of EOU Rules of 2008 on an appeal Riled by M/s Lintaz Industries. A two-member bench, headed by Justice (R) Malik Manzoor Hussain, Chairman/Member Judicial and Zulfiqar A. Kazmi, Member/Technical-I (Karachi) was hearing the appeal. Earlier, counsel
for the applicant stated in his customs appeal that it was granted that licence on 30/10/2010 for operating an export oriented unit under SRO 327(1)/2008 dated 29/03/2008 which authorized the applicant to import plant, machinery, equipment and apparatus including capital goods will be used solely within the limits of the EOU besides importation of certain raw material via dyes, pigments, chemicals, yarn, fabrics, threads, garments and so on. He argued that applicant imported 12 consignments of machinery/spares and 59 consignments of raw materials under the
said rules, however Tax Department alleged that he imported said consignments without payment of customs duty therefore a show cause notice was issued to the applicant and export oriented unit licence was suspended by the tax authority. Respondent also issued a notice for recovery of Rs66milluion against the import of machinery and raw materials. After hearing both sides’ arguments, abovementioned bench announced the judgment and observed that “the appeal is found to have its merits and hence the same is hereby allowed and respondents are directed to restore applicant’s
(EOU) export oriented unit licence from the date of its suspension 31/08/2012, and allow him to start his production and export in terms of EOU Rules of 2008. Court also set aside the impugned order of the Collector of Customs Adjudication-II Karachi. Citing to Collector of Customs Adjudication-II Karachi, Collector of Customs Model Customs Collectorate of (Export-PMBQ) and Collector of Customs Model Customs Collectorate (export) Karachi as respondents, importer pleaded with the tribunal for restoration of its export oriented unit licence seized by of Customs Adjudication-II, Karachi.
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Iran urban inflation at 7.1%; rural 8.1 percent Wednesday June 7, 2017
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TEHRAN: The goods and services Consumer Price Index for urban areas increased 7.1% in the 12-month period ending which marks the end of the Iranian month of Ordibehesht, compared with last year’s corresponding period, the Statistical Center of Iran announced in its latest report. SCI put the preceding month’s inflation rate at 6.9%. The overall consumer price index (using the Iranian year to March 2012 as the base year) stood at 244.4 in Ordibehesht, indicating a 0.2% decrease compared with the previous month and a year-on-year increase of 9.6% compared with last year’s similar month. The goods and services CPI for rural areas in the 12-month period ending May 21 increased 8.1% compared with last year’s corresponding period.
Jail drug worker caged for koreans caught smuggling smuggling dissident note 2,348kg of gold in ‘private parts’ LONDON
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ozens of Korean citizens were caught smuggling 2,348 kilograms of gold hidden in their “private parts,” the Korea Customs Service (KCS) said on Tuesday. It was the nation’s biggest smuggling bust. Fifty-one people, including several housewives, were apprehended at Incheon International Airport early last month. The smuggling had been happening for about two years. Male smugglers were hiding Rive or six gold bars (3cm x 3cm), each weighting 200 grams, in their rectums while the women hid the gold in their rectums or vaginas. The value of the gold was about 113.5 billion won ($100 million) the highest value of gold conRiscated in a single smuggling case. The smuggling happened from
Japan industrial output likely to rise 4 percent apan’s data this week will provide an early picture of the growth performance in 2Q. As inferred from the production forecast index and the PMI, industrial output is likely to show a strong rise. In line with the consensus, the country’s industrial production is expected to rise 4 percent m/m on a seasonally adjusted basis, notably up from the -1.9 percent m/m seen in March. This should help to confirm that the exports-driven recovery remains well on track in 2Q, thanks to the improvement in global demand, an upswing in the electronics sector, and fade of protectionism risks, DBS Bank reported. Further, consumption growth is likely to continue to lag. Retail sales are expected to post a modest 0.1 percent in April, slower than the 0.2 percent in March. –CB Report
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March 2015 and the gold came from Tokyo and China’s Yantai. Korea’s gold price is usually higher than many countries because of a 15 percent additional tax imposed on gold products, according to the KCS. “Gold smuggling is a business people can make money easily from because of the price
gap,” a KCS ofRicial said. “As our crackdown gets tougher, smugglers are also getting more sophisticated in hiding gold or other jewelry products they want to bring in.” The ofRicial said the KCS will soon launch a special task force to implement a sweeping crackdown on gold smugglers.
uAe, Japan non-oil trade reaches $14.6 billion in 2016
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he non-oil trade between the UAE and Japan reached about $14.6 billion in 2016, and the countries are working continuously to strengthen their economic ties and common interests, according to a recent report. The UAE Ministry of Economy has recently released a new report covering a comprehensive review of Japan’s trade policy and a closer look at the latest developments in the Japanese economy. The report also includes
a review on Japan’s recent move to improve its investment climate, bolster its public Rinances and raise investor conRidence in its business sectors. It also addresses the most signiRicant features of the bilateral trade relations between the UAE and Japan. According to Hind Al Youha, director for foreign trade policies, Ministry of Economy, the ministry is keen on increasing the public and private sector’s awareness on trade. –CB Report
former Sinn Fein election candidate and leader of Provisional IRA prisoners in Portlaoise prison has been jailed for 16 months for smuggling a dissident IRA message out of the same jail. Brian Kenna (56), of Crumlin Park in Dublin, had been employed by the Republic’s health ministry as a drugs counsellor. He was described in Sinn Fein newspaper An Phoblacht as an “anti-drugs activist” in Dublin. Earlier this month he was found to be a member of the New IRA after he was caught red-handed smuggling a note from the terror group’s prison leadership to its northern commanders. On the day of his arrest he was using Christmas cards issued by dissident prisoners as a front for smuggling out a New IRA commu-
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nique. Garda said it had confidential information that Kenna was being used as the conduit between the dissident group’s leadership and its prisoners in the Republic. In 1995 Kenna was spokesman for Provo prisoners when he and 11 others were released from Portlaoise as part of the peace process. He told waiting reporters that the release of the 12 was “a recognition of the contribution the republican movement is making to the peace process”, but said the response by the British Government to the IRA’s peace strategy “was less than what one would have hoped for”. At the time Kenna was the officer commanding Provisional prisoners in the jail. His release was warmly welcomed by Pat Doherty, the Sinn Fein vice president and later an MP. In 1999 Kenna ran unsuccessfully for Sinn Fein for a seat on Dublin City Council, and was quoted frequently in An Phoblacht as an “anti-drugs activist” in the west of the city.
iran economy grew 15.7% in Q3
he Central Bank of Iran has published growth Rigures for the third quarter of the last Iranian year (September 22-December 20, 2016). According to CBI, the Iranian economy grew 15.7% last fall compared with the corresponding quarter of a year before. The rate stood at 4.6% without taking oil production into account. The oil sector registered a whopping growth rate of 74.6% in Q3, thanks to the lifting of nuclear sanctions against Iran, which allowed the country to signiRicantly ramp up production to pre-sanctions levels. Sanctions were lifted on January
2016, when Tehran and world powers started to implement a deal they clinched in 2015 to resolve disputes over Iran’s nuclear program. The mining and industries sector posted 11.3% growth. Services and agriculture recorded 5.6% and 5% expansion respectively. The construction sector, which shrank 25.4% amid a slump in the domestic housing sector, has been struggling with for years now. OfRicial statistics on the growth rate for the Riscal 201617 have yet to be published by relevant bodies, though Economy Minister Ali Tayyebnia has estimated a growth of 8%. –CB Report
filipino expat arrested in riyadh for human trafficking
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olice in Riyadh arrested a Philippine expatriate involved in human trafRicking cases by helping maids run away from sponsors’ houses then illegally employing them. After receiving reports on the escape of domestic maids of different na-
tionalities in various regions, police analyzed the available information and conRirmed that a Filipino was involved in the case, said Col. Fawaz AlMaiman, police media spokesman of the Riyadh region. He was arrested after police set up an ambush and found two expat maids in his company who were previously reported missing. The Filipino confessed to helping them both escape from their
sponsors’ houses then illegally employing them. He was detained at the police center, and the maids were referred to the Ministry of Labor and Social Development’s center for sheltering female domestic workers. The Bureau for Criminal Investigation in the region was notiRied to charge them according to anti-human trafRicking and residency laws. Riyadh police urged the public not to deal
with violators of labor and residency laws so as not to be punished and Rined, and warned that some of those violators are wanted for criminal cases. Police appealed to citizens to report to relevant bodies anyone violating labor and residency laws via the “Security Program” application, and to contribute to the success of the Interior Ministry campaign “A Nation without Violations.”
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Brazil expanding crude export options BERLIN: Germany’s import price inflation remained stable in April, figures from Destatis showed Tuesday. Import prices advanced 6.1 percent year-on-year in April, the same pace of growth as seen in March. Economists had forecast the annual rate to accelerate to 6.3 percent. Import prices had eased in March from a near six-year high of 7.4 percent in February. Excluding crude oil and mineral oil products, import prices grew 4.4 percent from the previous year. On a monthly basis, import prices fell 0.1 percent, confounding expectations for an increase of 0.1 percent.
2 arrested trying to smuggle $500k in drugs into Socal with toddler in car S Customs and Border Protection agents arrested two women trying to smuggle drugs by stuffing them in the roof of their car at a Southern California checkpoint – all while a 2-year-old girl was in the vehicle. Last Saturday morning, a 45-year-old woman driving 2008 Mazda Tribute approached the checkpoint on Highway 86, which is part of the El Centro Sector. She was accompanied by her 23-year-old daughter rand 2-year-old granddaughter. The car was referred to a secondary checkpoint, according to a Border Patrol press release. At the secondary inspection, a canine team alerted to the car. An extensive search of the vehicle turned up 18 packages of narcotics hidden in the roof of the Mazda. In total, the packages consisted of 33.12 pounds of cocaine, 4.41 pounds of methamphetamine and 2.6 pounds of heroin. The combined estimated street value of the seizure was $547,312. –CB Report
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police seizes herbal cannabis worth €150,000
bout 16 kg of gold has been stolen from the vaults of the Customs Department at the Indira Gandhi International Airport here, prompting the Central Bureau of Investigation to register a case in this regard. The theft of gold, valued at about Rs. 4 crore, surfaced during inspection of the vaults by the Stock Taking Committee between January 9 and February 21. The agency has registered a case of theft against unidentified persons. Meanwhile, In a smuggling attempt, the Air Intelligence Wing of the Commissionerate of Customs Goa Unit on Sunday seized 698 grams of gold worth Rs 1.86 million from a Uttar Pradesh native at the Dabolim Airport. –CB Report
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canada’s Husky approves $1.6b west white rose project anada’s Husky Energy Inc said on Monday it is proceeding with its long-delayed C$2.2 billion ($1.6 billion) West White Rose project off the Atlantic coast, even as the energy downturn makes the high-cost project less attractive. In its statement announcing the West White Rose plans, Husky said that the first oil is expected in 2022 and the project could achieve a gross peak production rate of about 75,000 barrels per day (bpd) by 2025. The company, which is controlled by Hong Kong billionaire Li Ka-shing, also said that a new oil discovery has been made at the Northwest White Rose production area. Husky’s decision to proceed with the investment comes at a time when several global energy majors have scaled back from Canada’s expensive oil sands assets, though offshore oil and gas projects are also losing attractiveness due to their high costs. So far, there hasn’t been any large scale exodus from offshore oil and gas projects. Reuters reported in February, citing people familiar with the matter, that Husky was mulling paring down its stakes in some eastern Canadian offshore assets, in a move that could fetch several billion dollars. Even if those sales materialize, Husky may remain a major player in the Atlantic region. –CB Report
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16 kg gold missing from customs’ vault
Wednesday June 7, 2017
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ollowing routine proRiling, Revenue ofRicers at Portlaoise Mail Centre seized approximately 7.5kg of herbal cannabis from two separate parcels today. The drugs, with a street value of approximately €150,000, were discovered concealed in a child’s armchair, which originated in the UK, and a collection of wicker boxes which originated in Thailand. The packages were consigned to addresses in Dublin City and Galway
and investigations are on-going with a view to prosecution. Meanwhile, A completely new, ‘half way house’ customs arrangement should be engineered to cushion the Irish agri-sector from a hard Brexit, Irish Co-Operative Organisation Society’s European Affairs Executive has stated. Guest speaker at the Arrabawn Co-Op AGM in Nenagh, Alison Graham, from Mallow, Co. Cork, told suppliers that prospects under a hard Brexit are not good for the dairy sector, particularly for cheese, and therefore we should strive to achieve a concrete new customs relationship with the UK. The Brussels based expert also said that get-
ting a transitional trade agreement for the period after the UK leaves the EU is critical to enable the agri sector and others prepare for what will follow. A sudden Brexit could, however, be ruinous for many in the sector. But she predicted also that the UK position may soften after next month’s general election. “The UK has previously said it would be open to some kind of customs arrangement with the EU. Brexit is an entirely new situation and there is certainly the idea that we could create an entirely new kind of customs relationship with them in order to accommodate continued trade,” she told the Arrabawn suppliers.
iran oil Minister sees rise in crude output by 2021 TEHRAN
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il Minister Bijan Namdar Zanganeh says Iran plans to raise crude oil output by 700,000 barrels per day in the long run, a decision that does not interfere with OPEC’s short term reduced supply plans. “We are keen to raise crude production capacity to 4.7 million barrels a day by 2021. We are talking about production plans in mid
and long-term and our target does not complicate OPEC’s short-term decisions,” Zanganeh was cited as saying in an interview with Argus, Shana reported on Wednesday. The Organization of Petroleum Exporting Countries extended an agreement to cut crude supplies by 1.2 million bpd for the Rirst half of 2017 by nine months to March 2018. The deal, supported by 600,000 bpd in cuts from non-members such as Russia, is a global effort to reduce bloated stockpiles of crude oil and
raise low prices. Under the deal, Iran is allowed to pump 3.8 million bpd on average by the Rirst quarter of next year. Iran exports close to 2.1 million bpd of crude oil and between 600,000 and 700,000 barrels a day of condensates, a type of ultra light crude. Tehran is also interested in diversifying its crude market, according to the minister. “We don’t want to rely solely on our backbone customers in Southeast Asia. Our main targets are Africa and Europe, particularly Northern Europe. Many
of our new customers, such as Total, Eni and Lukoil, transport our oil to European terminals.” Zanganeh conRirmed that Iran sells 100,000 bpd of crude to Russia, but said, “I don’t know where our oil cargoes are sent (by Russians). I’m not in a position to know that, but I’ve been informed that they deliver Iran’s crude to European customers.” According to published reports, ofRicials have stated that the destination of any outbound crude shipment has to be decided by the National Iranian Oil Company.
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NAB arrests central accused of Rs 1870m graft case Wednesday June 7, 2017
Lahore
LAHORE: Federal Investigation Agency (FIA) has conducted a raid on a book depot at Nehr Bazaar, Samundari, Faisalabad and seized 200 printed books of IT series publishers from the shop. According to the FIA spokesman, the raid was conducted on the complaint of junior manager, Rowing Services, IT series. The team also arrested custodian Sakhawat Ali Shah, resident of Ravi Mohalla Samundari, Faisalabad. A case has been registered against Syed Sakhawat Ali, Mian Waqar and Qari Ikhtiar.
customs recovers 3 wine bottles, other goods from passengers at Lahore Airport LAHORE
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ustoms officials have confiscated about three alcohol bottles from passengers travelling via different flights during raids on the Allama Iqbal International Airport. Sources told Customs Today that officers conducted operations in different flights coming from Dubai to Lahore, Turkey to Lahore, Jeddah to Lahore, China to Lahore and Muscat to Lahore. Customs took action in Pakistan International Airlines flights, Turkish Airways flight, Gulf Air and Saudi Air flight. Customs staff recovered three bottles of wine. Customs allowed all the passengers to go after the seizure of al-
customs, Anf abort smuggling of heroin into Jeddah from Lahore airport akistan Customs Preventive and Anti-Narcotics Force (ANF) foiled an attempt of smuggling of heroin from Lahore into Saudi Arabia at the Allama Iqbal International Airport. According to sources of Customs Today, Pakistan Customs and Anti-Narcotics Force took action against the accused attempting to smuggle heroin into Jeddah. The man was arrested and handed over to the ANF. He was identified as Muhammad Ramzan. The accused had concealed the fine heroin in his luggage. A case has also been registered against him. The recovered heroin is almost 2.5 kilogram. The worth of the heroin in the international market is more than Rs 25 million. The accused was travelling to Saudi Arabia for Umrah. –CB Report
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cohol bottles from their possession. Customs has also confiscated three LEDs of 46 inches from two passengers. Cell phones, wireless sets and mobile accessories were also recovered from Lahore airport. Customs officials also confiscated spare parts of vehicles from passengers coming from a flight of Europe and a huge quantity of garments from a flight coming from China to Lahore. Customs team has seized three bags of beetle leaves as well. Sources said the worth of the recovered items is more than one million rupees. The security officers have launched an investigation into the matter. It is a common practice that passengers coming from European countries carry bottles of alcohol with them but many times they left them on the premises of airport to avoid arrest.
LHc rejects over 100 applications against Anti-Dumping Duty
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ahore High Court (LHC) has rejected over 100 applications against the Anti-Dumping Duty on imports of different items from different countries. Justice Aisha A Malik heard the case in which counsel for appellant argued that the importers are already paying tax on different imported items but the government also imposed the Anti-Dumping Duty and put the extra burden on importers. So the government cannot collect two taxes in one time. He also prayed the court to declare null and void the Anti-Dumping Duty. After hearing the arguments, Justice Aisha A Malik of the Lahore High Court (LHC) remarked that taxes or duties are imposed on behalf of the government on anything and the court cannot intervene in the policy matters of the government. After the detailed hearing, the
court lawyers boycott proceedings against judge-lawyers clash
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awyers in the special federal court of customs taxation and anti-smuggling boycotted the court proceedings on the second day against a clash between a civil judge and lawyers. A Civil Judge Waseem Ahmad was holding the proceedings at his court at the LDA Building when a group of lawyers, led by Aqeel advocate, entered into the courtroom and misbehaved with the judge and his staff. All the civil and sessions judges of the lower courts stopped
courts’ proceedings in protest after a group of lawyers manhandled one of their colleagues. Earlier, the judge had announced a verdict against Aqeel’s client. Sources said the lawyers also slapped a staff member of the civil judge’s court. A video showing lawyers’ abuse and attack on the judge also went viral on social networking websites. After the incident, the judge called a meeting of his colleagues and demanded foolproof security for them. –CB Report
court rejected all the applications Riled by more than 100 different complainants against the AntiDumping Duty. Meanwhile, Lahore High Court (LHC) has stopped an implementation on a notice issued by the Federal Board of Revenue (FBR) to Punjab University. FBR sent
Rs35million income tax notice to the university. LHC also seeks a reply from the Federal Board of Revenue in the case. Justice Abid Eziz Shiekh heard the case Riled by Jamia Punjab in which the income tax notice issued by the Federal Board of Revenue (FBR) has been challenged.
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fBr recovers rs 8.5 million from pHA ederal Board of Revenue has recovered Rs4.5million after freezing the bank accounts of the Punjab Highways Authority. Earlier, the FBR had issued many notices to the Punjab Highways Authority for payment of income tax for the year 2015 but the management did not pay any heed towards the notices. Now the FBR has deducted the amount of Rs4.5million from the bank accounts of the department. In another action, the FBR has also recovered Rs4million from the bank account of the RT Max. The cloth manufacturing com-
pany RT Max does not have a good record of tax payment. The FBR had already conRiscated all the sales and manufacturing record the company. The RT Max is a defaulter of Rs10million as it didn’t pay sales tax for the year 2016. –CB Report
customs Tribunal disposes of M/s emco industries appeal
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LAHORE
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ustoms Appellate Tribunal has dismissed an appeal Riled by M/s Emco Industries Private Limited versus Collector of Customs Adjudication Lahore. Justice (retired) Malik Manzoor Hussain, Chairman Customs Appel-
late Tribunal, heard the case and decided with the arguments that the DTRE rules do not allow any alternative utilization of input under the DTRE approval. Plaintiff M/s Emco Industries private limited was granted a DRTE approval No: LHR/3311/01522009 and LHR/3438/1002010 on contract basis for the import of Ball Clay, Calcined Alumina and some other
things but complainant imported the DTRE after the expiry of the utilization. The same DTRE does not allow to import or export alternate goods and authorities ordered the payment of remaining amount of Rs8.9million in the duties and taxes. After a show cause notice, adjudication authority passed the Order-in-Original and declared that the petitioner evaded the amount of Rs8.9million and also
charged Rs2million in penalty under the Income Tax Ordinance-2001. Plaintiff M/s Emco industries private, aggrieved from the ONO, Riled a case before the Customs Appellate Tribunal and put all those points on the bases the appellant used the DTRE. On the other side, the recipient denied all the allegations and prayed for the rejection of the appeal Riled by M/s Emco Industries.
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Shipping activity at Port Qasim KARACHI: Brisk shipping activity was observed at Port Qasim where seven ships C.V MSC Mykonos, C.V MSC Aysa, C.V CMA CGM Tosca, M.V Celebration, M.V Frontier Leader and MTM Singapore, M.T Chemroad Saruna carrying Containers, 209 tonnes General Cargo, 63,835 tonnes Canola seeds 19,476 tonnes Phosphoric Acid and 13.000 tonnes Palm oil were allotted berths at Qasim International Container Terminal, Multi-Purpose Terminal, Grain & Fertilizer Terminal, Engro Vopak Terminal and Liquid Cargo Terminal respectively on Monday Berth occupancy was observed at the Port at 56 percent on Monday where a total of nine ships namely, MSC Mykonos, MSC Aysa, CMA CGM Tosca, Celebration, Rui Ning-2, Frontier Leader, MTM Singapore.
Mumbai port Trust plans solar unit, save on power costs he city will start saving about 2 MW conventional coal power and nearly 3 MLD drinking water within next two years. Thanks to Mumbai Port Trust (MbPT) that will save on buying conventional power worth Rs 4 crore by adopting energy efficient gadgets and setting up its own solar power plant by the end of next year. This will help city save about 1200 kg carbon emissions per hour. Similarly within the same time frame, MbPT will also offer its 3 MLD (million litres per day) treated sewage water for industrial purpose to save on drinking water presently being used by industries. Efforts to enhance the capability in handling of oil spillage up to 1,500 tonnes has also been undertaken to save marine life along Mumbai coast. “So far, major
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ports have already commissioned 16 MW solar and 6 MW wind power projects commissioned to achieve the set target of developing 175 MW of nonconventional energy from solar and wind power by year 2022 including 69 MW of rooftop solar projects. The stakeholders under the leadership of Union minister of Shipping, Nitin Gadkari are meeting on Tuesday to deliberate the issues and road map to take these initiatives to their logical conclusion,” said Sanjay Bhatia, chairman, Mumbai Port Trust. A conclave titled Green Ports & Oil Spill Management 2017 is being organised on Tuesday by the Indian Federation of Green Energy (IFGE) in association with Ministry of Shipping, Sagarmala, Mumbai Port Trust (MbPT), Indian Ports Association (IPA) and Shipping Corporation of India (SCI). –CB Report
Ports & Shipping
port of Baltimore’s Seagirt Marine Terminal moves forward WASHINGTON
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or the Rirst time in 30 years, the Maryland Port Administration has acquired land to accommodate growing business. The port administration announced Tuesday that it has completed the purchase of Point Breeze Business Center near Seagirt Marine Terminal in Southeast Baltimore in a $55 million deal that will expand Seagirt’s footprint to 356 acres. The acquisition is symbolic of a reversal of fortunes for the port of Baltimore, which in recent decades has struggled to remain competitive with larger East Coast ports in New York and Norfolk, Va. The port now needs extra land to help handle the growing volume of containerized cargo it’s been seeing since the expansion of the Panama Canal. The widened canal gave the super-sized container ships carrying Asian-manufactured goods a more direct route to U.S. East Coast
ports beginning last summer. Capitalizing on its deep channels and timely investment in four massive container cranes, Baltimore was able to offer shipping lines an alternative to the congestion and draft and clearance issues in other ports. New York harbor is hampered by shallower, rocky channels, while Charleston, S.C., is limited by the height of a bridge and its distance from East Coast markets. After the expanded canal opened
last year, Baltimore’s container trafRic grew by nine percent in the second half of 2016, hitting a record 538,567 containers last year. In the Rirst quarter of 2017, the port’s container volume grew eight percent. “We were concerned that with the success that we had in 2016 we were the fourth fastest growing port in North America if we were continuing to grow at that pace, we would have needed to grow container [space] by 2023.
Wednesday June 7, 2017
port Tampa Bay to get $9m under federal spending plan ort Tampa Bay and two other Florida sea ports moved closer to advancing projects to make harbors deeper, following the release of a U.S. Army Corps of Engineers spending plan last week. The plan for spending of discretionary funds approved by Congress, released Wednesday, would provide $9 million to Port Tampa Bay, $17.5 million to JaxPort and $2.8 million for Port Everglades in Fort Lauderdale. “Since 2011, we have invested over $1 billion in state funding in our 15 worldclass seaports and we appreciate the Trump Administration understanding the important role our ports have in supporting our economy and creating jobs,” Gov. Rick Scott said in a press release. Port Tampa Bay wants to deepen the Big Bend Channel from 34 feet to 43 feet, a project estimated to cost $55 million. U.S. Reps. John Rutherford and Ted Yoho, both Florida Republicans, said dredging the Jacksonville harbor from 40 feet to 47 feet, will allow JaxPort to handle larger cargo ships. –CB Report
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Business case for port of Townsville submitted A
WASHINGTON
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BUSINESS case for the Rirst stage of a $1.64 billion expansion to the Port of Townsville has been submitted to the State Government, with the project’s environmental impact statement in the Rinal stages of approval. The $193 million channel capacity upgrade will see the channel widened to accommodate ships up to 300m long. The Port of Townsville has predicted the upgrade will reduce carbon emissions by removing 8230 Bdouble trucks off road highways between Brisbane and Townsville each year. The business case for the channel upgrade has been sent to Treasurer Curtis Pitt and Ports Minister Mark Bailey for consideration. Port of Townsville chief executive ofRicer Ranee Crosby said the expansion project had been in the
planning phase for more than 10 years. “The channel capacity upgrade is a critical project to ensure the future growth of North Queensland as well as the competitiveness and via- bility of the Townsville Port,” she said. “The bottom line is ships are getting bigger and Townsville’s channel is too narrow to accommodate that growth. “That means over time, less commercial ships and cruise ships will be able to access our port, stiRling trade opportunities and potentially putting an end to the boom we are seeing in cruise ship visits to Townsville over the next 10 years. “Things that we get into the port directly to supply North Queensland like motor vehicles, fuel, gas, bitumen, cement and containers loaded with furniture, building products, food and clothing would need to be transported more than 1300km by road from the south if the channel widen-
ing does not go ahead, as larger ships bypass Townsville. “This is bad for trafRic on the Bruce Highway, bad for the environment and would mean increased freight costs and longer transit times for North Queenslanders.” Ms Crosby said the channel widening project would take six years to complete and generate 120 fulltime equivalent jobs in Townsville during construction. “It will also contribute $580 million of value to the regional economy,” she said. An evaluation report on the Port of Townsville’s environmental impact statement is being prepared by the Department of State Development’s co-ordinatorgeneral. Meanwhile, Consultation on the port’s plans to bring decommissioning to the area began last August with port users, local community councils and politicians. Public notices are being issued this week to begin the Rinal consultation phase. Investment in a new quayside at the
port’s Invergordon Service Base means the port has three berths and 80,000 square metres of laydown space ready to accept decommissioning projects from the September deadline. It is estimated it will cost around £75 billion to decommission oil and gas structures which are coming to the end of their life in the North Sea. However, to date, most of the contracts have gone to Europe because of the lack of adequate licensed facilities in Scotland. Port general manager Captain Calum Slater said: “The port is ideally located in the North Sea. Our status as a trust port, together with our proven environmental record, ensures platforms will be decommissioned in a way that meets the latest environmental standards. “We are already in discussions with customers who have structures to decommission and I can see the Rirst of the new era coming to the Rirth next year.
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FBR seizes non-duty paid cigarettes worth Rs30m in AJK ISLAMABAD: The Federal Board of Revenue’s (FBR) Enforcement NetworkInland Revenue has seized huge quantity of non-duty paid cigarettes after confiscating three loaded trucks, which were routed to Lahore from in Azad Jamu and Kashmir. Sources said that the IR Enforcement Network seized three loaded trucks having 8.4 million non-duty paid cigarettes in 840 cartons worth Rs30 million. FBR busted nexus of AJ&K based cigarette manufacturer Walton Tobacco and M/S Numeric Distribution Network (Pvt) Ltd who were involved in the illegal trade of non-duty paid cigarettes.
Wednesday, June 7, 2017
CUSTOMS BULLETIN
customs port Qasim detects 12 cases of mis-declarations during May KARACHI wAQAr AHMeD AnSAri www.customsbulletin.com
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ustoms Collectorate Port Qasim is keeping strict vigilance over the misdeclaration and under-invoicing practice, which several importers indulge in to evade government’s legitimate revenue. Collector Port Qasim Saeed Akram has advised Additional Collectors Khalil Yousfani and Yaseen Murtaza to keep strict vigilance to check mis-declaration and underinvoicing. Sources told Customs Today that Deputy Collectors Amjad Rajpar and Mohammad Adnan have been advised to examine the consignments prone to under-invoicing and mis-declaration. As a result of this synergized practice, R&D Port Qasim Deputy Collector Ahsanullah Shah, PA Khalid Umer, AO Rana Insram Rabbani, AO Amir Shuja detected cases of mis-declaration and contraventions were accordingly served. Sources told that during the last month May 2017 Customs Collectorate Port Qasim detected 12 cases, and nowadays several cases are in pipeline. According to sources Collector
Saeed Akram has said that the terminal is environment friendly and the authorities have complied with all international environmental
laws during the construction of the terminal. He said we have created a criteria for our ofRicers to clear the consignments by checking the clas-
siRication of items, valuation according to the ruling or historical data. If somebody has applied for exemptions according to some SROs
or FTAs, the ofRicials check it accordingly, he said, adding “rationalization of taxes is the best way to prevent smuggling.”
Hyderabad customs generates rs1882.383 million HYDERABAD
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odel Customs Collectorate (MCC) has received Rs1882.383 customs duties and taxes up to 31st of May while the assigned target was Rs1930.98million of Financial Year 2017. The department generated Rs472.107million customs duty against the
assigned the target Rs370.78million whereas Rs1395.350million was sales taxes. The allocated target was Rs 1.518million and Rs2.485million has been federal excise duty (Special FED). The assigned target was Rs2.2million and Rs12.441million has been Withholding Tax (WHT). The major sources of tax revenue remained Hyderabad Dry Port State Warehouse, SukkurLarkana Division, Huffaz Seamless Pipe Industries, Crescent Steel, Omni Polymer Industries, Rema Cooking Oil and Pakistan State Oil.
The Anti-Smuggling Organization (ASO) also seized non-duty paid goods worth million of rupees.
Under the supervision of Hyderabad Customs Collector Akhlaq Ahmad khattaq, Additional Collector (HQ) Rehmatulah Vistro, Deputy Collector Mushtaq Shahani, Principal Appraiser Mashq Panhwar, Statistical Revenue and others played an important role in revenue collection, ofRicials said. Model Customs Collectorate (MCC) Hyderabad, Anti-Smuggling Organizations (ASO) Hyderabad, Sukkur and Larkana Divisions foiled various smuggling attempts and made big seizures of nonduty-paid items including vehicles, high speed diesel, clothes,
Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi
fabrics, narcotics, diesel pumps, auto parts, cigarettes, mobiles phone, tyres and tubes, toys, crockery, toiletries and electronic items in different operations worth million rupees during the two months including April and May of Financial Year (FY) 2017. Four impounded vehicles, including Toyota corolla primo modal 2002, Mitsubishi lancer modalled 2005, Toyota land cruiser Modalled 1996 and Toyota car Modalled 2002, through auction, collected Rs4.4million revenue including duty and taxes during April 2017.