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Karachi, Fri March 10, 2017

ISLAMABAD

M FAIZAN

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irectorate General Customs Intelligence and Investigation (I&I) of the Federal Board of Revenue (FBR) has seized hundreds of kilograms of different kind of drugs in country wide operations in one month. The value of the drug is Rs 450 million in interna-

tional market.

Sources told Customs Today that Customs Intelligence arrested 14 suspects and registered eight criminal cases against them.

As per Qigures of the Directorate General Islamabad, Customs I&I Anti-Smuggling Organization staff caught 12.120 kilogram heroin worth Rs 110 million in international market.

They also seized 1,594.600 kilogram hashish worth Rs 320 million in international

Vol 2, Issue No. 97

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market and 44 kilogram opium worth Rs 20 million. Director General Shaukat Ali has lauded the performance and efforts of regional directorates and their anti smuggling staff and said we can perform much better.

He has emphasized on all regional directorates for close cooperation and effective intelligence sharing and collective efforts to curb the menace of drugs smuggling and illegal trade in the region.

DG Valuation issues reference values for Panasonic steamer & hand blender

SECP served 24 show cause notices to brokers: Senate body told

‘Innovation is now Pakistan’s basic currency’: Ahsan

Customs Central Region collects Rs1182m WHT in February

TRC body reviews proposals about electronic monitoring of tobacco industry

The DG of CustomsValuation issued the reference values for beauty equipment | See pAge 02 |

Senate Standing Committee on Finance and Revenue was informed that SECP | See pAge 03 |

Ahsan said innovation was the basic currency of Pakistan and it would be best | See pAge 04 |

CustomsCentralregionhascollectedRs1182 million WHT during the month of Feb | See pAge 14 |

A high powered meeting of Implementation Committee of TRC | See pAge 16 |

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Faisalabad FIA recovers Rs, 8,00,000 from human trafficker Friday, March 10, 2017

National

FAISALABAD: The Federal Investigation Agency (FIA) arrested a human trafficker Shaukat Hayat from Jhang and recovered Rs8,00,0000 from him.

Sources told to Customs Today, that Deputy Director FIA Syed Imam Zaidi and Sub inspector Taimoor Haider conducted raid on trafficker’s residence and arrested him.

As per details, the accused was running an illegal business of sending innocent people abroad after extorting huge amounts from them. Muhammad Shaukat is involved in several cases of fraud, extortion and sending people abroad illegally.

Dg Valuation issues reference values for panasonic steamer & hand blender

FAISALABAD

KARACHI

NAeeM SheIkh

wAQAr AhMeD ANSArI

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he Faisalabad Customs Intelligence and Investigation has impounded a non duty paid Toyota Fielder (X), car. The market value of seized Toyota Fielder is Rs25,00,000 involving customs duty and taxes Rs28,95,500. Sources told Customs Today, that Customs Intelligence team received credible information through Deputy Director Riaz Hussain regarding non duty paid vehicles which are plying on the roads in Faisalabad. After receiving the tip of he immediately formed a raiding team comprising Superintendent Zahid Raza Bukhari, Senior Intelligence Officer Muhammad Tahir and Muhammad Ramazan, Muhammad Saleem, Muhammad Saddique and Sepoy Liaqat Ali, Israr Ahmed, Mussadaq Ahmed, Saif ullah. The Customs Intelligence team intercepted a Toyota Fielder car X bearing registration No. AAN-349 ( Quetta ), model 2005 as per seat belt in black colour near Jhang Road. The intelligence team asked accused person who was identified as Agha Muhammad to produce legal documents regarding possession of Toyota car but he failed to provide the same.

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he Directorate General of Customs Valuation issued the reference values for beauty equipment (Panasonic steamer nano care pink EH-SA95P) and hand blender 650W. According to details, the Directorate General initiated an exercise to develop database values for different items wherein it has been observed that declarations are of wide range and do not correctly reQlect values of the items as traded in the international market.

During the scrutiny of previous clearance data, it was observed that beauty equipment (Panasonic steamer nano care pink EH-SA95P) falling under PCT heading 8516.7990 are being assessed at different values and certain transactions are on very low side.

The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the Qindings of the market surveys.

Therefore the customs values of beauty equipment (Panasonic steamer nano care pink EH-SA95P) are as beauty equipment (Panasonic steamer nano care pink EHSA95-P) China origin US$300 per piece. Meanwhile, the directorate is-

Faisalabad intelligence impounds non duty paid toyota Fielder

sued another valuation for hand blender 650W as hand blender 650W China origin US$5.67 per piece. These values are, however, for reference/guidance only and Qinal assessment may please be made after considering other factors which have bearing on the customs value.

In case of any grievance, the importer can Qile a request to the Directorate General along with substantiating evidences/record for

reconsideration/review.

Meanwhile, The Directorate General of Customs Valuation has issued the reference values for shaving razors and blades and facial machine (2 in 1 therapy needle-free mesotherapy anti-wrinkle skin tighten spa machine).

According to details, the Directorate General is populating Valuation Database Values for different items wherein it has been observed

that declarations are of wide range and do not correctly reflect values of the items as traded in the international market.

During the scrutiny of previous clearance data, it has been observed that shaving razors and blades falling under PCT heading 8212.1000, 8212.2000 8212.9000 are being assessed at different values and certain transactions are on very low side.

customs Appellate tribunal reserves verdict on 2 cases T

ISLAMABAD

NAeeM uLLAh tArIQ www.customsbulletin.com

he Customs Appellate Tribunal reserved a decision on the cases Qiled by Five Star Trading Co and Hamida Sports on Thursday. Five Star Trading Co and Hamida Sports had Qiled cases against the Model Collectorate of Customs Islamabad.

Five Star Trading Co and Hamida Sports had Qiled these cases in 2016.

Tribunal’s bench, comprising of Chairman Justice (r) Manzoor Hussain, heard the cases and reserved the decision after hearing arguments from appellants and department’s counsels.

Meanwhile, the bench adjourned the hearing of some other cases submitted by M/s Al-Khursheed & Co, M/s MB Chicks and Noor Hussain Kyani. M/s Al-Khursheed & Co had Qiled a case against Directorate General of Intelligence and Investigation while M/s MB Chicks and Noor

Hussain Kyani had submitted cases against the Model Collectorate of Customs. Chairman Justice (R) Malik Manzoor Hussain also held hearing on cases Qiled against the Directorate General of Investigation and Intelligence Islamabad and Model Collectorate of Customs Islamabad and Peshawar.

M/s Pakistan Royal Group, M/s Irfanullah and M/s Charisma Catering Islamabad had Qiled these cases.

The appellants had Qiled cases challenging the announcements

made by the DGI&I Islamabad. All three cases were Qiled in 2016.

M/s Pakistan Royal Group and M/s Charisma Catering Islamabad had asked the tribunal to direct the department to release the imported items conQiscated by the customs authorities under alleged attempts to smuggling.

Meanwhile, A division bench of Customs Appellate Tribunal reserved decision on seven customs references Qiled against Model Collectorate of Customs and Direc-

torate General of Customs Intelligence and Investigation, Islamabad.

Chairman Justice (r) Manzoor Hussain and Ziaudding Wazir heard the cases and reserved decision on seven cases after hearing arguments from appellants and department’s counsels. M/s Trade Master, M/s Waseem Autos, M/s Nisar Traders, M/s Parts and Parts, M/s Chief Autos, M/s Aman Elahi, and M/s Kohinoor Traders had Qiled these references. M/s Trade Master had Qiled case against MCC only.

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Bank deposits plunge by 4.2% to Rs10.73t KARACHI: The deposits of the banking system have decreased by 4.2 percent to Rs10.73 trillion by end of February 2017 as compared with Rs11.2 trillion when compared with December 31, 2016. According to data released by State Bank of Pakistan (SBP) on Tuesday the deposits by end February 2017 are higher than the stock of Rs9.38 trillion as on February 2016. Banking experts attributed it to seasonal decline saying that banks accumulate deposits in the month of December to improve their balance sheets.

Investment of the banking sector, however, increased to Rs7.46 trillion by end-February 2017 as compared with Rs7.23 trillion in December 2016.

Drugs valued rs6.5m recovered from S Arabia bound passenger

Friday March 10, 2017

National

Secp served 24 show cause notices to brokers: Senate body told

KARACHI

MuBeeN huSSAIN

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he Pakistan Customs has recovered 650 grams crystal amphetamine powder from a passenger at the Jinnah International Airport (JIAP) Karachi. The staff of the Pakistan Customs Preventive deputed, after getting a tip-off, intercepted a passenger named Javed Iqbal and asked him for getting checked the luggage as well as travel documents.

During the search, the officer of the Pakistan Customs Preventive found 650 grams of high quality crystal amphetamine powder hidden in the secret places of the bags at the departure of the JIAP. The passenger was travelling to Saudi Arabia through Flight No SV-707.

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customs impounds container loaded with auto-parts MULTAN

IMrAN ALI

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he Customs Intelligence and Investigation Multan Range Office impounded a container of imported auto parts from Sadiqabad Region in an anti-smuggling operation. Multan Customs Intelligence and Investigation has captured the container of 40 feet on a tip-off. The container was cleared from Karachi Port Qasim. The total worth of the loaded auto parts was almost Rs08million but the custom duty paid on the import consignment was less than its actual customs duty. The importer had paid almost Rs2.2million and remaining duty of Rs5million was evaded. The department concerned has seized the container on the directions of Deputy Director Abdul Mueed Kanjoo.

The said department has also lodged an advance information report and further investigation on the mis-declaration of duty taxes is still underway.

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ISLAMABAD

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enate Standing Committee on Finance and Revenue Wednesday was informed that Securities and Exchange Commission (SECP) had issued 24 show cause notices to brokers involved in inside trading in Paksitan Stock Exchange (PSX).

The committee, headed by Senator Saleem H Mandviwalla, was also informed that the commission would issue further notices to 26 brokers involved in the illegal trading. Chairman SECP Zafar Hajazi brieQing the committee categorically denied the allegations leveled by the brokers about pressurizing them and said all action taken against them were quaci judicial.

He informed that abnormality was witnessed in the capital market during November last year as index was increased by 9,000 points in a single day and 3,000 points on the next day.

The SECP had started the study of the situation and investigation were initiated to identify the abnormality in the capital market to avoid any possibilities of illegal trading, he added. He said investigation was carried out and 24 brokers were involved in illegal investment, adding the brokers had admitted their mistakes and tendered their apologies.

He also rejected the allegations that the SECP ofQicial had made

phones calls to brokers and pressurized them, adding they were served show cause notices, which aimed at investigating the illegal Qinancing. The other objective of the investigation was also to review the available products for Qinancing and remove the bottleneck if any to facilitate the investors, he added. The SECP head said he was striving to make the security market a transparent market to avoid any crisis like situation that had happened in past and affected about

chairman Secp Zafar hajazi briefing the committee categorically denied the allegations leveled by the brokers about pressurizing them and said all action taken against them were quaci judicial

pak economic obvious under cpec

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ISLAMABAD

cuStoMS BuLLetIN report

www.customsbulletin.com s Chinese investments in the frontier markets have the potential to mitigate repercussions from global economic uncertainties, the Pakistan’s economy was obvious to see improvement under the China Pakistan Economic Corridor (CPEC).

According to Ali Khalpey, an expert at Egyptian investment bank EFG Hermes, the Chinese invest-

ments play a very important role in frontier countries, a Chinese newspaper “Global Times Online” reported on Wednesday.

He said, the Chinese gross domestic growth has a huge impact on all frontier markets, adding that for example, Pakistan’s economic improvement under the China Pakistan Economic Corridor (CPEC) is obvious to see.

Ali Khalpey said, frontier markets are economies which have left the status of a least developed

country, but still lag behind the size and rating of emerging markets.

“CPEC does not only represent a financial upgrade, but also one on human resource, from which people on the ground in Pakistan reap benefits,” Khalpey said.

The CPEC framework is one of the six economic corridors that play a major role in China’s Belt and Road Initiative, which is aimed at creating a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.

100,000 investors. He said due to strong fundamentals, despite selling behaviors of the foreign investors which tried to create destabilization, the market remained stabled. Zafar Hajazi said the SECP had restored the conQidence of local investors by adopting the transparency and making the commission an independent organization. He said the SECP as regulatory body was fulQilling the international set standards and it was focusing on development and regulation.

Zero rate St facility on gas, electricity suspended ederal Board of Revenue (FBR) has withdrawn zero-rating facility on supply of gas and electricity allowed to Lahore-based two textile units. In two different notifications issued by the FBR on Wednesday, the zero-rated sales tax facility on consumption of electricity and natural gas has been withdrawn that was granted to Hashir Textile Mills Limited and Ali Akbar Spinning Mills Limited.

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SECP files criminal case over price ISLAMABAD: The SECP filed criminal complaint on Tuesday against a person who manipulated the price of shares of Gauher Engineering Limited (now Drekkar Kingsway Limited). As a result of an investigation, it emerged that the accused and his associates bought a major stake in Gauher Engineering Limited in 2014 at a very subsidised rate.

Gauher Engineering at that time was on the Pakistan Stock Exchange’s defaulters counter. Upon resumption of trading, the accused placed significant buy orders to ramp the price of shares. Subsequently, these shares were sold to market participants at higher prices to earn substantial gains.

Friday March 10, 2017

Business

‘Innovation is now pakistan’s basic currency’ LAHORE

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ederal Minister for Planning, Development and Reforms Ahsan Iqbal said innovation was the basic currency of Pakistan and it would be best for the country to progresses in this Qield.

He was addressing the Sixth Invention to Innovation Summit organised by the Punjab University OfQice of Research, Innovation and Commercialisation, Pakistan Science Academy, Institute for Research Promotion, UMT and others at Al Raazi Hall on Wednesday.

PU Vice Chancellor Professor Dr Zafar Mueen Nasir, UMT Rector Has-

cotton prices higher KARACHI

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otton prices surged on the back of strong buying from spinners and short supply. Ginners obliged only those deals which were quoted at higher prices and one of the bids were quoted at season’s record high level. As cotton stocks are reducing day by day, ginners are striving to get highest prices against their limited stocks. Brokers believed that the market would continue to remain slow for the rest of the current cotton season which was expected to close much earlier due to short crop.

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san Sohaib Murad, Pakistan Science Foundation (PSF) Chairman Dr Muhammad Ashraf as well as researchers, scientists, faculty mem-

bers and a large number of students were present. Addressing the summit, the minister said the incumbent government was using its position

for economic cooperation instead of playing the power game. He said Pakistan, which was previously known for terrorism, is now being recognised as an emerging economy and one at the centre of the China Pakistan Economic Corridor. said many foreign countries expressed their interest in becoming part of CPEC, which was a sign of great change. He said Gwadar would become a model port city and centre of trade for the region in the next 20 years. “We must put Pakistan on the road to wealth with the help of all areas and segments of the country,” the minister said. “However, it is only possible when we have competitiveness.” He said Pakistan should adopt the principal of survival of the Qittest and its products and services must match international standards.

urea sales dip 38 percent month-on-month U

KARACHI

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rea sales in February amounted to 251,000 tons, down 38% month-on-month (MoM) and 20% year-on-year (YoY), according to provisional fertiliser off-take Qigures.

On a cumulative basis, in the two months of calendar year 2017 (2MCY17), urea sales remained unchanged at 657,000 tons.

Fauji Fertilizer Company (FFC) and Fauji Fertilizer Bin Qasim’s

(FFBL) cumulative urea off-take dropped by 24% MoM to 119,000 tons, according to an AHL Research report. Similarly, Engro Fertilizers’ (EFERT) urea off-take declined by 11% MoM to stand at 95,000 tons.

Fatima Fertilizer’s (FATIMA) off-take descended by 77% MoM to stand at 29,000 tons. On 2MCY17 basis, FATIMA remained an outperformer whereby off-take surged by 241% YoY to 157,000 tons while FFC and FFBL’s cumulative off-take along with EFERT declined by 16% and 24% YoY, respectively. Closing inventory for urea with the local producers as of

February 28, 2017 stood at 941,000 tons while total urea closing inventory (both local and imported) was recorded at 1,178,000 tons. Di-ammonium Phosphate (DAP) sales showed improvement of 51% MoM and 30% YoY to 92,000 tons in Feb 2017. On 2MCY17 basis, DAP sales showed growth of 3% YoY to stand at 153,000 tons. FFBL managed to sell 65,000 tons of DAP during February, translating into a jump of 92% MoM and 161% YoY. Furthermore, 2MCY17 cumulative Qigures depicted solid growth of 168% YoY, standing at 99,000 tons during the period.

IAeA approves safeguards for N-power plants ISLAMABAD

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nternational Atomic Energy Agency (IAEA) on Wednesday approved Pakistan’s request for the application of safeguards for Nuclear Power Plant Units K-2 and K-3. These two units are pressurised water reactors of 1,100 megawatts electric (MWe) each and are being acquired from China, said a foreign ministry statement.

“The IAEA Board of Governors has approved Pakistan’s request for the application of safeguards for Nuclear Power Plant Units K-2 and K3. These two units are pressurised water reactors of 1,100 MWs each and are being acquired from China,” the statement said. The ministry said that civil nuclear power generation was an important component of Pakistan’s energy security policy and a vital developmental imperative. “These power plants will serve as important vehicle to help meet Pakistan’s increasing energy needs and support sustained economic growth and industrial development,” it said. Pakistan, it added, had the rare distinction of keeping all its civilian nuclear facilities under the IAEA safeguards signifying its commitment to global objectives of non-proliferation.

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Senate body for protecting local textile industry ISLAMABAD

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enate Standing Committee on Textile Industry on Wednesday stressed the need for protecting local textile industry to enhance exports volume of the country.

The committee gave recommendation for proper execution of “Trade Enhancement Package” amount of Rs.161 billion for the in-

dustry, announced by Prime Minister Muhammad Nawaz Sharif for coming 18th month from January 2017 to June 2018. The meeting was chaired by Chairman of the Committee Senator Mohsin Aziz here on Wednesday. Mohsin Aziz recommended to extend the period of trade enhancement package from 18 months to Qive years for beneQiting the local textile and industrial growth. While the committee also recommended the appropriate uti-

lization of the package and also stressed for proper time line in execution, protection of local industry for enhancing exports and reduce the energy prices to provided competitiveness for industrial growth.

OfQicials from textile industry informed the committee that the government had decided to give drawback on duties in garments by seven percent, process fabric Qive percent,madeups six percent for coming 18 months. The government had

also given relaxation on the import of textile machinery for the modernization and to enhance the capacity of the textile sector, he said.

The committee was informed that through this package cost of doing business would decrease for enhancing business activities in the country. The ofQicial informed the committee that the country was facing 21 percent short fall in cotton production and 10.7 million cotton bales produced in this production

year. He also said that seven new varieties of cotton had also been introduced to enhance the cotton production in this year. The committee also expressed reservations over replacing the cotton production areas to sugarcane and Maize crops.

The committee also called for the revival of sick industry in the country. Senator Saleem Mandviwala, Hari Ram and Nasreen Jalil along with ofQicial of ministries also attended the meeting.

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KARACHI

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mporters have approached Federal Board of Revenue against blackmailing by few customs ofQicials at R&D Port Qasim, especially Principal Appraiser Ibrahim Khan. Importers told Customs Today that blackmailing by Principal Appraiser Ibrahim Khan is increasing day by day due to which their businesses are suffering huge losses.

“This is intolerable. We cannot survive in these circumstances. Even we are thinking to shift our businesses to UAE to secure our children’s livelihood. We are fulQilling all the legal requirements.

We are paying taxes to Customs and FBR on time. After paying the taxes, it is impossible to pay huge amounts to the blackmailers”, importers uttered with immense despair.

“PA Ibrahim Khan was found involved in smuggling cases. He had a bad repute and track record. Such persons should not be allowed to work again to upset the gen-

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Friday, March 10, 2017

uine importers,” importers demanded.

Meanwhile, Federal Board of Revenue Chairman Dr Muhammad Irshad has taken serious notice of the importers’ complaints of blackmailing by few Customs officials, especially Principal Appraiser Ibrahim Khan, deputed at R&D Port Qasim and directed the authorities concerned to investigate the matter and report him urgently. He said corruption and corrupt officials will not be tolerated, “if any official found involved in such kind of activities, he/she shall be punished as per relevant laws.” “There is no room in Federal Board of Revenue for those persons who are stigma on the face of our institution,” he added. Recently, several incidents of blackmailing have been reported by importers against few Customs officials deputed at R&D Port Qasim.

Sources made shocking revelations about the sufferings of several importers

due to the blackmailing of few black sheep in the Customs Department, especially Principal Appraiser Ibrahim Khan at R&D Port Qasim.

has rshad I d a amm rs’ porte r Muh D m i n e a h of t hairm y few notice FBr c s u o iling b i r a e s m k n pal c take princi of bla y s l t l n a i i c a l espe d at comp cials, epute d ffi , o n s a m he m kh custo cted t brahi I e r r i e d s i d the Appra sim an nvestigate a Q t r o d to i r&D p tly cerne n o urgen c s m i e i h t i t r repor autho r and e t t a m

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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

Disparity in household income

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ccording to the findings of a survey released by Pakistan Bureau of Statistics, the benefits of economic growth have not reached the lower stratum of society during the three year rule of the current Pakistan Muslim League government. It says that economic disparity between dierent groups not only continued but also further deepened during the present political setup. The salaried classes has lion share in the total household income which is around 40 percent while second in the line comes business and services sectors. The agriculture sector is the third largest contributor of the household income. No doubt, disparity between haves and have-nots persists in every society and every economy of the world, but the ratio matters. Pakistan is the emerging market in overall business terms and its middle class is growing at a fast rate. The survey notes that the agriculture sector has apparently lost its potential during the third year of the present government due to various factors. Due to lower crop production, the share of the agriculture sector in monetary terms has reduced the total household income. The survey discusses and covers average monthly household income and expenditures in 201516. As the middle class is expanding, its monthly income recorded an average increase of 16 percent in 2015-16;the monthly income of the higher middle class has increased by 15 percent and the average monthly income of the highest income group has increased by 14 percent. The survey shows that average monthly income of every class has shown two digit increase, but the fact remains that their expenditures also increased during the year.

According to modern economies, the money spent is the money gain because it spurs economic activities and generates income for various groups associated with a business.

Keeping in view the volume of the population which is around 200 million, the country is appearing as a big consumer market. The more is the demand for the products, more are the industrial activities and more are the jobs. The era of saving schemes is over and this is the secret the west has discovered many years ago.

They encouraged the people to spend even beyond their means and oer credit cards and other services. However, economists and policymakers in this country are still not ready to accept changes in the business and economic trends going on around the world.

problems of leather industry A

LAHORE

Dr AFtAB AFZAL

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ccording to a senior official of the Pakistan Tannery Association, at least 95 percent entrepreneurs will not be able to avail benefit of the incentives announced by Prime Minister Nawaz Sharif in the export package. The government has so far failed to provide infrastructure to protect and process hides and scientifically dispose of the effluents to protect environment. The tannery industry is already in trouble and last year it suffered a loss of Rs 1.5 billion as hides of sacrificial animals could not be protected from excessive heat

and were damaged. The experts believe the country has potential to earn more than $3 billion annually if tannery industry is developed on modern lines and the government works out a preferential status for it. There are over 450 leather garments manufacturing units in the country which produce millions of pieces annually. The leather industry’s current capacity revolves around producing 100 million pairs of footwear annually against a production capacity of 200 million pairs. The leather sector is one of the leading job providing and earning sectors in the country. At least 800 tanneries and half a million people are engaged with it.

According to the official, the

current exports of leather products stand at $195 million as compared to the corresponding period of the year 201516 in which it earned $211 million, and is showing a decline of around 7.5 percent.

The overall leather exports have declined by 26 percent which means the country has lost a quarter of its exports in one year. The experts believe the cost of doing business is rising and the industry is unable to compete with the other countries in the region in the international market. The Rs 180 billion export package announced by the prime minister is a welcome step, but too late and is regarded as ineffective as all the major relevant HS codes have

been missed in SRO 62 (1)/2017issued on February 2 2017. A month as passed but the ministry of commerce has failed to rectify it despite reminders by the stakeholders.

There is no doubt in the good intentions of the government as the export package has been announced for the benefit of the exporters and not for political reasons. However, apart from announcing the package, the government should also release export rebates as well as sales tax refund claims in time to keep the wheel of industry in running mode. The Pakistani entrepreneurs are also need to introduce their own fashion brands to ensure their presence in the international market.

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Iran’s transport budget up 5 percent TEHRAN: The budget for Iran’s transport sector will increase 5% in the new Iranian year (March 2017-18) compared with the current year, owing mostly to an upsurge in the budget for the rail sector, a deputy minister of roads and urban development said. “The ministry’s budget for the upcoming fiscal year stands at 81 trillion rials (more than $2.1 billion), of which 7.3 trillion rials ($193 million) have been allocated to housing and urban development, while 74 trillion rials ($1.96 billion) have been earmarked for transportation,” Amir Amini was quoted as saying by Mehr News Agency. “The budget for housing and urban development has decreased 36%. In the road sector, we are witnessing a 23% decrease. But in the rail sector, we have a 68% growth. Overall, there is 5% growth in the transport budget.” Some 4,000 kilometers of railroads are under construction in Iran.

LccI lauds armed forces for action against terrorists LAHORE

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cting President of the Lahore Chamber of Commerce and Industry (LCCI) Muhammad Nasir Hameed Khan has paid rich tribute to the security forces for quick action against the terrorists after new wave of terrorism in the country. In a statement issued here, the LCCI acting president said that anti-Pakistan elements want to destroy the country economically but business community, government and security forces are united and committed to tackle these ugly conspiracies. He said that the business community is satisfied on timely and strict measures

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against the terrorists. He said that their precious blood would not go waste. He said that whole nation stands united behind the armed forces and would not hesitate in offering any sacrifice to remove the menace of terrorism. He said that that Pak Armed Forces have made it clear to the world that they have all abilities to confront any sort of challenge.

He said that security forces, government and masses are ready to defend every inch of the country. The acting president stressed the need of unveiling those who are helping the terrorists and all segment of society should play their role to this regard. Meanwhile, Acting President of the Lahore Chamber of Commerce & Industry Muhammad Nasir Hameed Khan has demanded of the Federal Board of Revenue not to treat business community as criminals and stop conducting raids at the markets as it is creating harassment amongst the business community. While talking to a delegation of Pakistan Automobile Spare Parts Importers & Dealers Association (PASPIDA) here at the Lahore Chamber of Commerce & Industry.

Friday March 10, 2017

Chambers

kccI for timely settlement of pending refund claims P

KARACHI

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resident of the Karachi Chamber of Commerce and Industry (KCCI) Shamim Ahmed Firpo, while referring to numerous requests received from KCCI members, urged the government to timely settle the pending sales tax refunds claims in order to save manufacturers-cum-exporters, particularly small exporters from suffering severe liquidity crunch.

In a statement issued, President KCCI recalled that under Prime Minister’s directives, sales tax refunds of up to Rs22 billion were settled in the month of August 2016 which was followed by another settlement of refunds claims of Rs21 billion for the period ending June 1, 2015-June 30, 2016 in the month of November 2016 but it has been three months now since the last payments against refund claims were made whereas such claims have been escalating every day, triggering anxiety amongst many taxpayers. “Refund claims of last 7 months of the current Qiscal year have not been cleared which has intensiQied the hardships particularly for

small exporters due to severe liquidity crunch”, he added. Shamim Firpo, while welcoming federal government’s move to release Rs22 billion and Rs21 billion to settle pending refund claims of Qiscal year ending June 30, 2016, stated that although this move provided the much-awaited relief to exporters but this relief should be ensured on sustainable basis which would surely ensure sufQicient availability of liquidity to manufacturers-cum-exporters, enhance their productivity and pave way for uplifting the depressed exports of the

country. In this regard, he advised the government to devise an automated system which must ensure release of pending refund claims on monthly or quarterly basis which, if done, would enable the industrialists and exporters to efQiciently devise their future business expansion strategies and create an enabling environment in which the businessmen and industrialists will be least bothered about the release of refund claims and stay focused on exploring ways and means of how to enhance their businesses and exports. He opined

Dubai chamber hosts breakfast to showcase trends in food & beverage

T DUBAI

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he Dubai Chamber of Commerce and Industry recently hosted the Gulfood Breakfast BrieQing at its headquarters. The meeting was attended by 250 delegates from 36 countries in addition to several representatives from Dubai’s business community. Held on the sidelines of Gulfood 2017, the event was an opportunity to discuss new trends and opportunities for growth in Dubai’s food and beverage sector. Atiq Juma Nasib, senior vice president of commercial services at Dubai Chamber, delivered an opening speech, outlining the advantages that Dubai can provide food suppliers and exporters

across the globe. He noted the Emirate’s strategic location, which can provide trade partners with easier access to markets in the Middle East, Africa and Asia.

He also said Dubai is keen on making itself a global capital of Islamic economy, a strategy in line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of Dubai.

Amina Ahmed Mohamed, executive director of Emirates Global Center for Accreditation, spoke at the event as well, educating delegates about the halal food industry’s accreditation process. Omar Khan, director of international ofQices of Dubai Chamber, was a keynote speaker, providing guests with an overview of Dubai’s economy. Meanwhile, Dubai Cham-

ber of Commerce and Industry is considering opening an ofQice in Iran and will soon open one in India, Chairman Majid Saif Al Ghurair told Zawya in an interview on Tuesday.

Dubai Chamber, which was established in 1965 as a non-proQit public organisation to support and represent the emirate’s business community, currently has seven international representative ofQices in Azerbaijan, Ethiopia, Kurdistan, Ghana, Mozambique, Kenya and China. “We hope of course to open markets soon, if we could in Iran,” Al Ghurair said. “Iran would depend on circumstances,” he said, adding that there was no set timeframe. Sunni Muslim Gulf Arab states are wary of Shi’ite Muslim Iran’s power in the Middle East, especially regional powerhouse Saudi Arabia.

that the improved economic Qigures along with positive developments taking place due to China-Pakistan Economic Corridor (CPEC) clearly indicate that Pakistan was headed in the right direction and was likely to become one of the fastest growing economies of the world but on the other hand, the government must ensure a level-playing field to the business and industrial community so that they could be able to catch up with the pace and stay afloat in the extremely competitive business environment.

January uS exports, imports increase otal January exports were $192.1 billion and imports were $240.6 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce.

This resulted in a goods and services deficit of $48.5 billion, up from $44.3 billion in December. January exports were up $1.1 billion from December, and January imports were up $5.3 billion from December. The January increase in the goods and services deficit reflected an increase in the goods deficit of $4 billion to $69.7 billion and a decrease in the services surplus of $0.3 billion to $21.2 billion. Year-overyear, the goods and services deficit increased $5.1 billion, or 11.8 percent, from January 2016. Exports increased $13.3 billion or 7.4 percent. Imports increased $18.4 billion or 8.3 percent. –CB Report

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E&T not honouring SC’s ruling on handover of 300 vehicles to customs Friday March 10, 2017

National Non-bailable arrest warrant for NDp jeep smuggler KARACHI

M B rANA

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ISLAMABAD: The Department of Excise and Taxation is not willing to hand over around 300 Non-Duty Paid vehicles to Model Customs Collectorate Peshawar whereas the Supreme Court of Pakistan has ordered that only a special judge of the customs court can decide something on this issue. According to MCC Peshawar, KP police have handed over 104 NDP vehicles undervalued millions of rupees to the Customs Department Peshawar whereas the Excise and Taxation did not yet provide any NDP vehicle to MCC despite SC’ orders. Till today the KP police have handed over five NDPs to Peshawar, 22 NDP vehicles to Mardan, 21 to Shar Garah, 44 to GI Khan, four to Kohat, four to Banu and other four to Kohat Tanal.

IMo seizes heroin booked from Islamabad to canada T

ISLAMABAD

tArIQ DerYA

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ustom Court Judge Syed Faiz Rasool Rashdi issued non-bailable arrest warrant for absconding accused named Zahid Ali S/o Abbas Ali who was booked in a case of smuggling of a Toyota Prado Jeep (Three-door) one unit with registration No: E-0225 Karachi modelled 1997. During the hearing, Investigation Officer Qasim Alvi appeared before the court and filed a final challan against the above named accuse. He informed the court that on a credible information dated 24/08/2016, officials of the Anti-Smuggling Organisation recovered the above said Toyota Prado Jeep from Numaish, M.A Jinnah Road Karachi. Officials took the vehicle into custody and lodged an FIR against accused Zahid Ali who is owner of the smuggled vehicle in violation of Section (s) 16 of the Customs Act-1969 punishable under Clauses (8) (73) & (89) of Sub-Section (1) read with Sub-Section (2) of Section 156 ibid.

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customs Appellate tribunal reserves judgment he Customs Appellate Tribunal reserved a decision on the cases filed by Five Star Trading Co and Hamida Sports on Thursday. Five Star Trading Co and Hamida Sports had filed cases against the Model Collectorate of Customs Islamabad. Five Star Trading Co and Hamida Sports had filed these cases in 2016. Tribunal’s bench, comprising of Chairman Justice (r) Manzoor Hussain, heard the cases and reserved the decision after hearing arguments from appellants and department’s counsels. Meanwhile, the bench adjourned the hearing of some other cases submitted by M/s Al-Khursheed & Co, M/s MB Chicks and Noor Hussain Kyani.

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he International Mail OfQice (IMO) Islamabad conQiscated 150 grams of heroin from a parcel booked from Islamabad for Canada. The value of the seized heroin was assessed as Rs1.5million. The customs staff arrested the smuggler.

According to newly appointed Assistant Collector IMO Ali Asad, the IMO seized a registry parcel during the clearance of export registry parcels at the IMO Chaklala Rawalpindi.

The customs staff at the IMO found a suspicious parcel which was placed under examination that led to detection of 150 grams of heroin concealed in parcel. The case has been forwarded to Investigation and

Prosecution Department.

Ali Asad informed Customs To-

day that the above said seizure of heroin was the seventh case conQis-

cated by the IMO during the last seven months.

Dry port generates rs55.84m customs duty in Feb

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ISLAMABAD

tArIQ DerYA

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he Customs Dry port Islamabad collected Rs55.84million Customs Duty than the assigned target for February of Financial Year 2016-17.

According to Assistant Collector Islamabad Dry Port, long holidays of China have ended now and the dry port started work again.

The consignments, stopped at China Border due to holidays, are reaching the dry port consignments within the next few days.

He said this month the dry port will get more handsome revenue against the previous months. Last month most of the consignments comprised spare-parts and less fabric as most of fabric comes from Chins whereas spare-parts come from European countries.

Telling about the details of CD collection during February, he said the dry port generated Rs285.837million CD against the assigned target of Rs230million under the same head while the dry

port collected Rs274.561million during the same period of corre-

sponding year 2015-16. The dry port earned Rs11.28million more

CD during the same period of corresponding period.

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AFU surpasses collection target by Rs01million ISLAMABAD: The Air Freight Unit (AFU) Islamabad achieved its assigned target for month of February FY2016-17 as it collected Rs186million against the assigned the target of Rs185 million Customs Duty. According to Additional Collector AFU, the collectorate revised the target of February FY2016-17 under the head of Customs Duty as AFU’s revenue activity stopped during long holidays of China.

During December the AFU generated Rs124.68million CD. During November FY16-17 the AFU collected revenue of Rs126.71 million. The AFU received Rs121.68million revenue during September whereas it collected revenue of Rs145.24 million during August and did Rs95.16million CD during July FY16-17.

Shc directs Ir chief to decide appeal of M/s pakitex in a month KARACHI

M B rANA

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he Sindh High Court (SHC) directed the Commissioner Inland Revenue Appeal-II to decide the appeal of the petitioner within four weeks on a constitutional petition filed by M/s Pakitex Boards Private Limited against the impugned show cause notice for recovery of disputed amount issued by the tax department. A two-member bench, comprising Justice Aqeel Ahmed and Justice Muhammad Arshad Khan, was hearing the petition.

During the hearing, learned counsel for petitioner submitted that In-

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stant petition can be disposed of with the direction to the Commissioner Inland Revenue Appeal-II to decide its appeal within a reasonable time. After his arguments, court disposed of petition with the direction to the respondents not to force petitioner for recovery of impugned demand, and directed to Commissioner Inland Revenue Appeal-II to decide the appeal and stay application within four weeks.

Citing Sectary Ministry of Finance, Chairman Federal Board of Revenue, Commissioner Inland Revenue Appeal-II, Deputy Commissioner Inland Revenue E & C Unit-III & IV Zone-II LTU and Assistant Commissioner Inland Revenue Large Taxpayer Unit as respondents, petitioner pleaded with the court to restrain them from taking any coercive action against the petitioner till final disposingl of this petition.

Friday March 10, 2017

National

ASo Dg r&A conditionally allows Faisalabad seizes non duty paid 240 kg cloth imports from Afghanistan without shipping documents T FAISALABAD

NAeeM SheIkh

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KARACHI

S r khAN

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he Directorate General of Reforms and Automation (R&A) has decided to ease the trade from Afghanistan, adding that the Pakistan Customs has allowed the importers to carry out land trade from Afghanistan without the requirement of shipping documents in registered contracts.

The Director Directorate of Reforms and Automation (R&A) Wajid Ali has said that it may be recalled that all imports into Pakistan are required to be made compulsorily through Electronic Import Form (EIF) adding that the EIF was implemented with a view to curb the illegal and duplicate payments of imports from Pakistan by unscrupulous elements, he added.

The Director (R&A) further said that the Pakistan Customs was observed that due to peculiar nature of trade with Afghanistan through land routes, especially via Torkham and Chaman borders, Pakistani importers were facing difficulties to carry out import

transactions through ElF. “In order to address these difficulties and to facilitate traders of the above regions, the procedure for registration of contracts and payments there against has been simplified”, director added.

“Now, the requirement for routing of shipping documents against registered contract through banks shall not be mandatory for imports from Afghanistan through land routes, he asserted.

It may be mentioned here that the Pakistani importers may now directly receive shipping documents from the Afghani exporters

and get the goods cleared after attachment of Goods Declaration(s) with EIF, adding that once the importer gets the contract registered and ElF approved with the bank for multiple shipments, the importers shall not be required to approach the bank again and again for approval of EIF. The Director R&A further said that the relaxation is expected to provide manifold benefits to the importers of above region by reducing their cost of doing business and efficient processing of goods clearance at Customs Stations bordering Afghanistan.

he Anti-Smuggling Organization (ASO) has seized non duty paid cloth worth Rs2,00,000 involving duty and taxes amounting to Rs58200. According to the details, Collector Dr Zulfiqar Ali Chaudhary received information regarding smuggling of foreign origin cloth on which he formed a team comprising Deputy Collector Rizwan Khan, Superintendent Saeed Akhtar Joiya, Inspectors Khalid Ashraf Noor, Mehmood Ahmed Dogar, Sepoys Ali Zahid and Muhammad Khalid Dogar, Afzal Hussain, Muhammad Naeem, Muhammad Ashraf and Liaqat Ali to foil the bid. The ASO team raided at Azad Hakeem Goods Jhang Road, Faisalabad and recovered 240 kilograms of cloth, from the office. On demand owner of the cloth who was identified as Noor Khan son of Barkat Ali failed to produce documents regarding legal import of the items.

Furthermore, recovery memo was prepared in the presence of the accused persons and cloth was seized under Section 168 of the Customs Act, 1969 and registered a case against accused persons.

customs value of split air-conditioner revised

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KARACHI

wAQAr AhMeD ANSArI www.customsbulletin.com

he Directorate General of Customs Valuation has revised the customs value of split air-conditioner. According to details, customs values of Components for Split Airc-onditioners (Conventional/Inverter type) were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.839/2016 dated 21-04-2016.

The Valuation Ruling required revision in line with the prevailing prices in the international market.

Therefore this Directorate General initiated an exercise for determina-

tion of customs values of Components for Split Air-conditioners (Conventional/Inverter type).

Meetings with stakeholders were held on 03.02.2017 and 09-022017. Importers had been requested to furnish the following documents before or during the

course of meeting: Websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.

Copies of contracts made/LCs opened during the last three months showing the value of item in ques-

tion. Copies of Sales Tax Invoices issued during last four months showing a difference in price (excluding duty and taxes) to substantiate that the beneQit of difference in price is passed on to the local buyers. No documents were submitted in this Directorate General on or even before the said scheduled meetings.

During the course of the meeting, the stakeholders claimed that the values of Components for Split Air Conditioners (Conventional/Inverter type) of China origin have actually reduced in the international market as compared to the values determined in the existing valuation ruling, therefore, the values needed downward revision.

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Deutsche Bank reverses overhaul plan Friday March 10, 2017

World

FRANKFURT: One year after he split Deutsche Bank’s investment banking and trading units, John Cryan put them back together with a familiar mandate: fewer clients and lower costs.

According to details, Cryan, chief executive officer since 2015, said that the business will focus more on corporate clients and will pare the list of fund managers and other institutions it serves.

Division heads will now be tasked with striking a balance between stemming a loss of market share to rivals that accelerated last year and cutting €700 million (S$1.05 billion) of costs by next year.

That comes as the firm pivots away from hedge funds and other financial firms, pledging almost two-thirds of the unit’s balance sheet for corporations.

philippines customs seizes goods worth p200 million

Iran ready to ship 100bpd crude to South Africa TEHRAN

cuStoMS BuLLetIN report www.customsbulletin.com

MANILA

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he Bureau of Customs (BOC) seized some P200 million worth of counterfeit apparel and other products in simultaneous raids on two buildings located along Cuneta Avenue in Pasay City.

Customs Commissioner Nicanor E. Faeldon said that the operations were part of BOC’s stringent counter-measures against all forms of smuggling of fake products into the country in grave violation of Republic Act (R.A.) No. 8293 or the Intellectual Property (IP) Code of the Philippines and RA 10863, otherwise known as the Customs Modernization and Tariff Act of 2016.

BOC’s spokesperson Neil Anthony Estrella, concurrent director of the Customs Intelligence and Investigation Service (CIIS), reported that the raids were conducted at

thailand’s exports rises for third month in a row ffice of the Trade Policy and Strategy director Phimchanok Wornkhorporn said January exports this year amounted to US$17.099 billion, representing an 8.8% increase over statistics for the same period last year. This was the third consecutive month that the country’s exports have enjoyed positive growth, she said. With this satisfactory growth, she said she confidently predicted that this year’s exports could grow by no less than 3.5%. The main products contributing to the rise are rubber which increased by 28%, computers increasing by 30% and gold exports which rose by 157.6%. She also estimated that if export figures for this year averages out to US$18.841 billion per month, then the government’s export target growth of 5% can be achieved. –CB Report

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One Logistics Building and YS Building in Pasay City. Inside One Logistics Building, at least 21 stalls on the 3rd, 5th, and 6th Qloors were found with counterfeit apparel with such brand names like Nike, Adidas, Armou All, Vans, Lacoste; their value was estimated at P100 million.

At YS Building, some 11 stalls

were found with a stash of fake clothing with brand names like Jag, Wrangler, Under Armour, Superman, NBA, valued at more or less P100 million.

“We conducted these raids to enforce the law and protect Filipino consumers from the bad effects of smuggling fake products.

Netherlands’ Mylan rebounds with strong Q4 results

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he full-year and fourth quarter 2016 Qinancial results statement from generics and specialty drug maker Mylan appear to show the company has left its EpiPen troubles behind.

The Netherlands-incorporated firm beat analysts’ revenue and profit expectations for the fourth quarter of 2016. Sales were bolstered by strong performance from recently acquired Meda, the Swedish speciality pharmaceutical

firm. The company’s share price charged up 7% as investors digested the news.

Mylan reported revenues of $3.3 billion for the fourth quarter of 2016, up 31% compared to the same period in 2015. Following generally accepted accounting principles (GAAP), the earnings per share (EPS) figure was $0.78, more than double the previous year.

Gross profit was $1.3 billion, up from $1 billion. –CB Report

ran is ready to sell South Africa 100,000 barrels per day (bpd) of oil and also to buy shares in the African country’s oil reQineries, Oil Minister Bijan Namdar Zanganeh said. He made the remarks on the sidelines of a meeting with the visiting South African energy minister Tina Joemat-Pettersson in Tehran.

“Along with talks around oil and oil products exports to the African country, we have also discussed gasto-liquids (GTL) projects which South Africa is willing to execute in Iran,” Zanganeh noted.

The minister further said Iran’s National Development Fund (NDF) could support Iranian companies for purchasing shares of South African reQineries. The South African minister also held talks with Marziyeh Shahdaie, the managing director of

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Iran’s National Petrochemical Company (NPC), on Sunday and expressed her country’s interest to investment in Iran’s petrochemical sector, especially in GTL projects.

Iran was the major exporter of crude oil to South Africa before the imposition of sanctions on Tehran in 2012. The African country imported about 380,000 bpd of oil from Iran in the pre-sanctions era.

Meanwhile, Iran’s crude oil exports hit a record 3 million barrels per day in the Iranian month of Esfand (late February to late March), the Islamic Republic News Agency (IRNA) reported on Tuesday, citing the oil minister. Iranian Oil Minister Bijan Namdar Zanganeh credited Iran’s nuclear agreement with Western powers in 2015, which removed a number of sanctions in exchange for curbs on the Islamic Republic’s nuclear program, for the boost in exports. “Before the [nuclear agreement] we struggled to export one million barrels per day,” IRNA quoted Zanganeh as saying.

Brazil gDp slips 0.9% in Q4 of 2016 razil’s economy worsened more than feared at the end of 2016, possibly paving the way for bolder interest rate cuts by its central bank. Brazilian gross domestic product shrank at an outsized quarterly rate of 0.9% in the last three months of last year amid further weakness in consumption and a smaller contribution from net exports.

Household consumption fell for an eight consecutive quarter, by 0.6%, doubling the contraction seen over the previous three months, as high inQlation and a weak jobs market took their toll. However, imports rose by 3.2%,

“signaling that domestic demand will soon stabilize”, Andres Abadia, senior international economist at Pantheon Macroeconomics said. Gross Qixed capital formation – the main measure of investment in the economy – also fell less rapidly, retreating 1.6% on the quarter after sliding 2.5% in the third quarter. Exports were also better than in the previous quarter, although they did fall by 1.8% on the quarter. So, despite the weak headline reading, “easing monetary policy, rapid and steady disinQlation, improving conQidence, and rising commodity prices are laying the ground for growth this year,” Abadia said. –CB Report

Japan’s exports of used cardboard snag record price

C TOKYO

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ardboard scraps are fetching the highest export price ever recorded in Japan amid soaring Chinese demand for the material, coupled with the cheaper yen.

The average bid price for March shipments jumped 8% from the

previous month to 26.4 yen (24 cents) per kilogram, a Tokyobased papermaking industry group said. In dollar-denominated terms, one ton of used cardboard is valued at $264, a price not seen since March 2008.

China’s e-commerce boom is driving demand for cardboard paper used in packaging. The market prices for base paper also are ris-

ing, and Chinese manufacturers of that product are purchasing used paper at marked-up prices, a waste paper merchant said.

January exports of used cardboard to China climbed 10% from a year earlier, trade data shows.

Japanese demand for cardboard paper also is rising, but manufacturers are not raising prices due to an inventory glut.

The cost of procuring used cardboard is currently rising along with the export price.

“It’s now becoming harder to turn a profit,” a cardboard paper manufacturer said.

The price for old magazines grew 8% to 26.2 yen per kilogram, or $257 a ton. Old newspapers are now 10% more expensive at 25.3 yen a kilo and $250 a ton.

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US economy grew at weak 1.9% rate in Q4 WASHINGTON: The US economy grew at an anemic 1.9 percent rate in the fourth quarter, unchanged from an initial estimate, although consumers performed better than first thought. The increase in the gross domestic product, the broadest measure of economic health, represented a significant slowdown from 3.5 percent growth recorded in the third quarter, the Commerce Department reported Tuesday.

The fourth-quarter figure was unchanged from the first estimate a month ago, although some of the components were revised. The government found that consumer spending grew at a faster rate, but spending by state and local governments and businesses equipment purchases were weaker.

Indian customs seizes gold from a passenger at hyderabad ndian Customs officials at the Rajiv Gandhi International Airport foiled a gold smuggling bid by a passenger from Dubai. The officials seized 379 grams gold concealed in the form of six gold buttons.

Based on initial intelligence, the officers of the Air Intelligence Unit seized six gold buttons weighing 379 grams kept in a gas (cylinder) regulator in the baggage of the passenger, a customs officer said. The seized gold is valued at Rs1.27 million. Meanwhile, Three persons arrested at the international airport for allegedly smuggling gold pieces worth over Rs4.1 million from Dubai. Air Intelligence Unit (AIU) officials seized 46 eshaped gold cut pieces, totally weighing 1386.600 grams from a passenger from Malappuram. The gold pieces coated with silver colour were found concealed in the transformer of an amplifier brought by the passenger, who arrived by a private airline early today, officials said. –CB Report

World Customs

Iran’s annual nut production tops 1 million tons

cademic retailer JS Group has reported a 6.2% year-on-year revenue drop to £38.1m in its annual results covering the financial year ending 31st May 2016, “in line with expectations” according to the company. Operating profit was £175,000, down 48% from the previous year’s total of £336,000. The company saw a 75% surge in e-book sales, with e-books now representing 17% of all book sales; however it also experienced its first ever decline in UK Higher Education revenues. UK Higher Education revenues were down 8.3% reflecting the fact, according to the JS Group, that no new Aspire schemes commenced during the year (Aspire schemes being a cashless bursary solution for the UK Higher Education sector. –CB Report

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turkey’s tourism decline continues but russians return ourism from Russia has bounced back somewhat, but overall, the number of foreign visitors to Turkey has continued to decline, with data released Tuesday showing January figures were down 9.8% compared to the same month last year. Every month since late 2015 has shown negative growth, during which time the country has been battered by terrorist attacks, including by Islamic State; renewed conflict with Kurdish militants; and a coup attempt by a military faction last summer. Turkey launched cross-border operations inside Syria in August and controls now about 2,000 square-kilometres of land in that country. The Russian rebound – with about 40,000 visitors – put the country in fifth for foreign visitors to Turkey, but still behind Germany and Iran. The numbers are still below averages of recent years. The bounce back comes after Moscow and Ankara patched up relations several months ago. In late 2015, Turkey downed a Russian jet near the Syrian border, sparking a diplomatic crisis. Turkey still had more than 1 million foreign visitors last month. The country estimates the tourism sector directly contributes just under 5% to the economy, with further knock-on effects. In an effort to shore up the struggling sector, the government is about to make a push to get Turks living abroad to spend their vacations in the country. –CB Report

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JS group reports 6% revenue drop for 2016

Friday March 10, 2017

TEHRAN

cuStoMS BuLLetIN report www.customsbulletin.com

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ran produces more than 1.18 million tons of different kinds of nuts every year, close to 800,000 tons of which are consumed domestically and the rest is exported, an ofQicial with the Ministry of Agriculture said. “Per capita nut consumption in Iran amounts to 10 kilograms [per year], four times as much as the global average,” Ramezan Rouintan was also quoted as saying by Eranico.

The ofQicial added that every year over 260,000 tons of pistachio, 160,000 tons of almonds, 230,000 tons of walnuts, 230,000 tons

raisins, 25,000 tons of hazelnuts, 22,000 tons of white mulberries, 44,000 tons of Qigs and 18,000 tons of peanuts are produced in Iran.

“Overall, 28 types of nuts are cultivated in the country with the abovementioned accounting for the lion’s share. We have never had a shortage of nuts at home. Now, we have sufQicient reserves to meet the domestic demand that increases during the New Year holidays,” he said. The upcoming Iranian New Year holiday begins on March 21, 2017. Domestic nut and fruit consumption increases, as the occasion is celebrated with relatives and friends paying visits to one another. Nuts and fruit are typical treats offered to guests in Iranian homes. Mojtaba Khosrotaj, the head of Iran Trade Promotion Organization, said Iran

supplies more than 50% of the world pistachio market.

“The world pistachio market is worth over $2 billion and our exports amounted to $1.2 billion last year (March 2015-16). In the nine months to December 20, we exported over $800 million worth of the product and expect to repeat last year’s figure by the yearend,” he said. Khosrotaj made the statements to Financial Tribune on the sidelines of the Fourth International Exhibition of Nuts, Dried Fruits and Related Industries held in Tehran in January. “We exported over $150 million and $122 million worth of raisins and dates respectively over the nine-month period and expect the figure for both commodities to reach $200 million by the end of the year.

Saudi investment a boon for Johor’s economy

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RIYADH

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audi Arabia’s state oil company Saudi Aramco’s US$7bil (RM31bil) investment into the ReQinery and Petrochemical Integrated Development (RAPID) project at Pengerang in Johor will be the driving force for the economic development in the state. Johor Tourism, Domestic and Consumerism committee chairman Datuk Tee Siew Kiong said that Saudi Aramco’s deci-

sion to invest in the oil reQinery and petrochemical integrated development project here shows that the state’s rapid development was a force to be reckoned with. “This establishes our position as one of the most comprehensive developments in the region,” Tee said during an HSBC China and Johor networking dinner on Tuesday. He added that this collaboration would prove to be beneQicial for small and medium enterprises (SMEs) in the area, as well as for businesses related to oil and gas, raw materials, steel and rubber

industry as well as construction companies. “SMEs should take hold of this opportunity as it will prove to be a huge beneQit to their businesses,” he said, adding that it will also create more job opportunities for the people. “The rapid development of the state of Johor is something that can be seen, felt and touched by everyone,” said Tee, adding that the growth of the state was real and definite, and was not something the government was only boasting about. He added that Saudi Aramco’s decision to work with Petronas

shows the faith and trust they have in our nation. “They have faith in our people, our standards, as well as our people’s education,” he said. He added that after Saudi Aramco’s investment into the nation, many other countries were also interested to work with the country, especially in the Johor region. “Following the many Chinese companies that have set up investments here, and now with Saudi Aramco’s decision to work with us, many other countries are showing their interest in our region,” said Tee.

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FIA detains accused for extortion Friday March 10, 2017

Lahore

LAHORE: The Federal Investigation Agency (FIA) on Saturday arrested an accused for extortion.

According to FIA spokesman, Muhammad Ali of tehsil Hasilpur, district Bahawalpur, extorted Rs459,000 from Matloob Ahmad of Toba Tek Singh for employment in Malaysia.

Meanwhile, The Federal Investigation Agency (FIA) has arrested an accused who is involved in human smuggling from Allama Iqbal Town.

According to sources of Customs Today, accused namely Rasheed Ahmad son of Saien Ditta arrested by the team on intelligence base information. Sources said that accused Rasheed Ahmed extorted huge amount from different people by showing them golden dreams of their lucid future abroad.

chairman NAB Qamar Zaman meets ScBA & Quetta lawyers

customs central region collects rs1182m wht in February

LAHORE

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M IMrAN MehAr

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amar Zaman Chaudhry, Chairman NAB, held a meeting with a delegation of senior members of the Supreme Court Bar Association and Balochistan Bar Association Quetta on Saturday. The delegation, comprising of Waseem Jadoon, VicePresident, Supreme Court Bar Association, Rauf Atta, Member Supreme Court Bar Association, Abdullah Khan Kakar, Deputy Attorney General, Attaullah Langov, General Secretary Balochistan Bar Association and a large number of lawyers, were also present.

Qamar Zaman Chaudhry, Chairman NAB, expressed his heartfelt condolence and offered Fateha for

customs court hears 17 important cases he Special Court of the Customs Taxation and Anti-Smuggling heard 17 important cases and adjourned most of the cases until next hearing. According to details, 17 cases of different types, including pre-arrest bail pleas filed by different accused persons, were scheduled for hearing on Tuesday. The court adjourned the bail pleas of Azhar Mehmood and Shahbaz until next hearing. The cases, including tax evasion, customs, smuggling and narcotics, were scheduled for the day. A case of Tariq Kazmi, who is allegedly involved in mobile smuggling, was also scheduled for the hearing. The cases of Lahore, Gujranwala, Sialkot and Jhelum were scheduled for the day. Meanwhile, The Special Court of Customs Taxation and Anti-Smuggling heard 16 cases (on Thursday), including pre-arrest bail plea filed by accused. –M Imran Mehar

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the martyrs of August 08, 2016 tragedy that took place in Quetta in which so many precious lives of lawyers were lost. The Chairman NAB prayed the Allah Almighty to rest all the departed souls in heaven and give courage to all the families of martyred lawyers to bear this irreparable loss.

Meanwhile, National Accountability Bureau arrested Director of M/s AWJ Securities private limited Hassan Waheed son of Abdul Waheed accused in Rs260 million fraud and cheating public at large for the purpose of sale and purchase of shares in stock exchange.

According to details, a complaint received from Securities and Exchange Commission of Pakistan (SECP) according to which the director of M/s AWJ Securities private limited was involved in a major public fraud amount including Rs260 million.

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ustoms Central region has collected Rs1182 million withholding tax (WHT) during the month of February Qinancial year 2016-17.

As per details the Customs Appraisement Lahore collected Rs 512 million WHT during the month of February of Qinancial year 2016-17.

Similarly, Customs Preventive Lahore collected Rs636 million WHT during the period under review. The Collectorate of Multan collected Rs 20 million WHT during the month of February. The Collectorate of Customs Faisalabad has collected zero federal excise duty while same period last Qinancial year it has collected Rs13 million.

Overall the Central Region collected total withholding tax from

all the four collectorate worth Rs1182 million during the month of February of financial year 20161-1. It is necessary to mention here that the Central Region assigned Rs1322 million WHT collection target against the target of Rs1322 million assigned during the same period last financial year.

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Sources said that the collectors of all the four Collectorate told to use all available resources to meet financial year’s targets while the Customs Central Region chief collector office has also been monitoring all the revenue collection from all stations that come under the limits of Central Region.

customs preventive asked to ensure customs Appellate tribunal hears 13 cases he Customs Appellate Tribu- Traders versus customs Lahore. early refund of duty drawback nal division bench-II comprisOn Tuesday, Customs Appellate

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akistan Tanners Association Northern Zone Chairman Azam Malik demanded of customs authorities to ensure early refunds of duty drawback claims to leather exporters in Punjab, especially in Lahore and Multan.

He told media here that exporters based in Lahore and Multan are badly hit by liquidity crisis due to non-refunding of their claims. Azam Malik said that Association has numerous meetings with the concerned collectors but

of no use, citing that presently, an amount more than Rs 300 million is lying pending at Collectorate of Customs Preventive Lahore on account of duty drawback payable against consignments dispatched for exports from Lahore Airport during the past one year. He explained that despite expensive cost of air freight, exporters of leather in Lahore prefer to dispatch leather consignments through airport to meet strict deadlines of customers abroad. –M Hayat

ing Judicial Member Omer Arshad Hakeem and Member Technical Imran Tariq heard 13 cases and adjourned all the cases until the next hearing. The Customs Appellate Tribunal adjourned the hearing of 13 cases which includes M/s Uch Power versus directorate Multan Unit Sadiqabad, Customs Lahore versus Sami Ullah, Ahsan Mehmood versus customs Lahore.

On Wednesday, the tribunal heard cases of M/s Maxi Inch versus Valuation Lahore, Nimra Textile versus customs Faisalabad and Hajvery

Tribunal heard cases including customs Sambrial versus Nawab Zada Haider, Zafer Brothers three appeals versus customs Multan, Sohail and others versus customs Lahore, Sajjad Mehmood versus directorate of Intelligence and Investigation Lahore, Excell Pakistan versus customs Faisalabad. Customs Appellate Tribunal heard cases of Al-Rehman Fabric versus directorate of Intelligence and Investigation Faisalabad, M.S Amina Khan versus customs Lahore, customs Faisalabad versus Kamal Textile. –Sajid Nawaz

customs tribunal puts off hearings of 10 important cases

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LAHORE

SAJID NAwAZ

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he Customs Appellate Tribunal Bench-II, comprising Judicial Member Omer Arshad Hakeem and Technical Member Imran Tariq, heard 10 important cases on Thursday and adjourned all of them until the next hearing.

Customs Appellate Tribunal heard cases including Azmat International versus customs Lahore, Inam Traders versus customs Lahore, Muhammad Jameel versus Directorate of Intelligence and Investigation Faisalabad, Hussain Trading versus customs Faisalabad.

On Thursday, Customs Appellate Tribunal heard cases of Muhammad Asgher versus customs Lahore, Fa-

tima Fertilizers versus Post Clearance Audit (PCA) Lahore, Jumma Khan versus Directorate of Intelligence and Investigation Multan.

Furthermore, the tribunal heard the cases of Sitara Textile versus customs Lahore, Fatima Fertilizers versus Post Clearance Audit (PCA) Lahore, Sitart Textile versus customs Lahore and Dildar Jani versus Directorate of Intelligence and Investiga-

tion Lahore. In all the cases, counsels for appellants and recipients appeared before the court and submitted arguments. After hearing the arguments from all the parties, the tribunal member reserved the verdict in two cases and all other cases’ hearings were adjourned for next dates. Customs Appellate Tribunal division bench-II hears cases Qixed for hearing in previous dates.

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Port throughput surge WASHINGTON: Pilbara Ports Authority throughput figures from last month show a 12 per cent increase on last year. PPA delivered a monthly throughput of 52.3 million tonnes, despite a tropical low halting shipping operations at Dampier and Port Hedland for 38 hours and 17 hours and 40 minutes respectively. The port of Port Hedland also experienced a 19 per surge from the previous year, achieving a monthly throughput of 40.5 million tonnes. Iron ore exports for January totalled 40.2 million tonnes — an increase of 19 per cent from the previous year; however, imports decreased by 9 per cent to 122,000 tonnes.

The monthly throughout for the Dampier port dropped by 7 per cent from the previous year, totalling 11.8 million tonnes, and imports decreased 53 per cent to 114,000 tonnes.

ports of Indiana sets quarterly tonnage record he Ports of Indiana handled nearly 3.9 million tons of cargo during the fourth quarter of 2016, the highest quarterly shipment total in the organization’s 55-year history. The total surpassed the ports’ previous quarterly record set in the second quarter of 2015 by 300,000 tons. The state’s three ports’ shipped nearly 11.3 million tons in 2016, the second highest volume in history and the third consecutive year the ports exceeded 10 million tons annually.

Since 2014, the Ports of Indiana has handled 34 million tons of cargo, the highest three-year total since Indiana’s ports opened.

Major cargoes included coal, steel, grain, fertilizer and limestone.

Shipments of soy products were the highest in Ports of Indiana history, up six percent over 2015, while oil volumes were up nearly

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Ports & hipping

port of Sydney beefing up cruise ship facilities WASHINGTON

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ruise ships docking at the Sydney Marine Terminal will get a bit more breathing room during the peak tourism season in a couple of years. The Cape Breton Regional Municipality has put out a request for proposals for a new berth and improvements to the dock. The closing date for those proposals is March 16. “The desire of the (Port of Sydney) to increase cruise ship berthing capacity dates back many years,” states a report included with the tender package.

“There have been several occasions in the past when two and even three cruise ships have visited the port at the same time. “In these situations, with one vessel occupying the existing cruise terminal, passengers and crew from the other cruise ships need to be transported to and from shore via tender boats.” The existing cruise ship berth at that port is 275 metres long and uses bollards

with a maximum capacity of 100 tonnes. But cruise ships which come calling sometimes require bollards with a capacity of up to 300 tonnes.

Under the current request for proposals, the municipality is seeking to add a 172-metre main wharf with new bollards and a mooring dolphin structure, a 115-metre catwalk wharf section, passenger walkways from the new wharf to the existing pavilion, landscaping and the reno-

vation of 3,000 square feet of space on the second Qloor of the Joan Harriss Cruise Pavilion. “The construction of the new dock as a multi-use facility will not only signiQicantly enhance the port’s ability to accommodate increased cruise ship visits but also provide infrastructure for non-cruise related activity,” Brad Kennedy, a senior structural engineer with the engineering consulting Qirm of CBCL Ltd.

Friday March 10, 2017

port of Vancouver seeks feedback on centerm expansion ancouver’s port authority wants public feedback on a proposal to increase the size of a container terminal in the inner harbor near Crab Park. If approved, the Centerm Expansion Project would increase the footprint of container terminal by 15 per cent, while increasing capacity by roughly two thirds. The proposal, however, has worried some Vancouver residents who are concerned about impacts to Crab Park, the only public green space in the downtown East Vancouver waterfront.

The expansion plan is undergoing a project and environmental review by the Port of Vancouver. It includes a period of public consultation that begins Monday and runs through Mar. 24, 2017. A discussion guide with more details about the expansion will be released on Monday. As part of the public feedback process the port is holding a number of drop-in open houses and smaller group meetings.

A second round of public feedback is planned for mid-2017. –CB Report

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ANLcA seeks improved infrastructure at ports 18 percent and minerals increased four percent. “Thanks to our worldclass port companies and other businesses that use our facilities, our ports remain one of the most vibrant port systems in the heartland of America,” said Ports of Indiana CEO Rich Cooper. “With our total 2016 shipments more than two million tons higher than the previous five-year average, a global steelmaker announcing plans to build a processing plant at our Jeffersonville port and several existing port companies making significant capital investments during the year, the prospect for continued growth at the ports is certainly encouraging.”–CB Report

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WASHINGTON

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he leadership of the Assocaition of Nigeria Licensed Customs Agents (ANLCA) has urged the Federal Government and ports terminal operators to ensure that state of infrastructure at the nation’s ports is improved for effective service delivery. A statement in Port Harcourt last Friday, issued by the ANLCA National President, Shamuseedeen Shittu, said that the state of roads within the ports at Lagos, Warri and Port Harcourt is deplorable, especially requiring government and ports terminal operators’ urgent attention.

Shittu said that clearing and forwarding agents are not finding it difficult to move their goods and services from the ports, stressing demurrage is accumulated at the

expenses of the Association’s members. He said that the association would soon meet stakeholders in the nation’s maritime sector to fashion a way of improved service delivery at the nation’s ports.

He said that the association was ready to partner with the ports terminal operators for effective improvement in the total level of infrastructure at the ports.

Meanwhile, The Mississippi ports of Pascagoula and Gulfport signed agreements in Cuba on Monday with an eye to future business and with a Republican U.S. senator from the state looking on, despite concerns President Donald Trump might backtrack on improved relations.

Senator Thad Cochran is the only Republican among five U.S. senators and a U.S. representative on a three-day visit to the Communistrun Caribbean island to discuss

relations and explore business opportunities.

The agreements were signed during a business forum to explore future trade attended by Cochran. “There is great potential for business between these ports and Cuba due to the geographical proximity and the excellent fluvial and maritime ways Mississippi has,” state-run media quoted Maria de la Luz B’Hamel, director of commercial policy with the United States at the Cuban Ministry of Foreign Trade and Investment, as saying.

The event was closed to foreign journalists. The congressional delegation arrived on Sunday and is being led by Democratic Senator Patrick Leahy of Vermont, who was instrumental in efforts to normalize relations under former Democratic President Barack Obama. Cuba watchers are look-

ing closely for signs of how the fragile U.S. detente with Cuba will fare under the new Trump administration. The Republican president has threatened to scrap moves to normalize relations, one of Obama’s signature foreign policy initiatives, if he does not get “a better deal.”

Port authorities along the U.S. southern coast are strong proponents of increased trade and travel with Cuba, and some have expressed interest in using Mariel, located on the northwest coast of Cuba, as a transshipment hub. Similar agreements were signed last month with Virginia, Louisiana and Alabama. The Florida ports of Everglades and Palm Beach had also been planning to sign deals, but balked after Republican state Governor Rick Scott threatened to cancel their funding if they did business with the “Cuban dictatorship.”

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Faisalabad ASO confiscates non duty paid almonds FAISALABAD: The Customs Anti Smuggling Organization (ASO), Faisalabad, has seized 11938 kilograms of foreign origin almonds worth Rs 25,00,000 involving customs duty and taxes to the tune of Rs 5,93,780.

Sources told Customs Today, that an ASO team intercepted a Hino truck bearing registration No, SEA-637 near Jhang Road and recovered foreign origin almonds packed in jute bags of Afghanistan brands. The officials asked the accused who was later identified as Abdul Ghani to show documents regarding its legal import, but he failed.

Friday, March 10, 2017

CUSTOMS BULLETIN

trc body reviews proposals about electronic monitoring of tobacco industry ISLAMABAD M FAIZAN

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high powered meeting of Implementation Committee of Tax Reforms Commission held at Federal Board of Revenue conference room the other day.

Advisor to Prime Minister for Revenue Haroon Akhtar presided over the meeting while Chairman Federal Board of revenue Dr. Muhammad Irshad, Chairman Tax Reforms Commission Masood Ali Naqvi, Member Operations Rehmat Ullah Khan Wazir, Member Customs Zahid Khokhar, Member Taxpayer Audit Rana Seerat, Member Human Resource Managent Rozi Khan Burki, Member Administration Muhammad Majid Qureshi, Member IT Ms. Nausheen Javed, Member Inland Revenue Policy Dr. Muhammad Iqbal, Member SPR&S Nasir Masroor Ahmad, Member Legal , Member FATE and other senior ofQicials attended the meeting.

Chairman Federal Board of Revenue Dr. Muhammad Irshad presented the latest published booklets regarding the FBR laws to the committee members. The Committee considered that through the promotion and use of information tech-

nology, FBR can reduce the volume of undocumented and black economy. The Committee also considered the matters relating to performance evaluation and appellate forums. The Committee reviewed

different proposals relating to electronic monitoring of production of tobacco industry, mapping of real estate sector, making taxpayers audit more effective and simpliQication of tax laws. The Committee deliber-

ated on progress of the previous decisions and decided to speed up the implementation process.

A three member sub-committee comprising Member Customs Zahid Khokhar, Member Inland

Revenue Policy Dr. Muhammad Iqbal and Member SPR & S Nasir Masroor Ahmad sought more time for preparations of recommendations for the simplification of tax laws.

tax evasion: court accepts interim challan against suspects KARACHI

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ustoms Taxation and AntiSmuggling Court Judge Syed Faiz Rasool Rashdi has accepted interim challan against suspects, Adnan Abdul Majeed, Sharafat Ullah Khan, Nazakat Ullah Khan, Muhammad Ehsan and Naveed Khan, who were booked in a case of evasion of duty and taxes to the tune of Rs

1.02 million.

During the hearing, Investigation OfQicer Shahid Ibrahim Dasti submitted interim challan against the suspects. He informed the court that the suspects, Adnan Abdul Majeed, proprietor of M/s Rainbow Industries, Sharafat Ullah Khan and Atta Ullah Khan, partners of M/s Danyal Agencies and Naveed Khan their employee as well as Muhammad Ehsan, proprietor of M/s Ehsan Enterprises, are allegedly involved in mis-declaration of old and used machinery, articles and other goods/scrap weighing 164,835 kg (approx.) and

evaded the duty and taxes of Rs 1.20 million. Names of Appraising OfQicer Abdul Samad Suahio, Model Custom Collectorate-Appraisement West Custom House Karachi and Investigation OfQicer Shahid Ibrahim Dasti Model Customs Collectorate West are mentioned as witnesses in the challan.

According to the prosecution, case was registered against them in violation of section 32 (1) & (2) 79 and 192 of the Customs Act. 1969 punishable under clauses (14) (45) (86) and (90) of section 156 (I) ibid read with section 6 & 33 of the Sales Tax Act 1990 punishable

under clauses 3 (3) & (33) ibid further read with section 148 of the Income Tax Ordinance 2001.

Meanwhile, Custom Court Judge Syed Faiz Rasool Rashid sent an accused namely Abdul Jabbar S/o Haji Abdul Rahan to Customs Department lockup on physical remand till March 04, 2017 who was booked in a case of attempting to smuggle 25,000 litre HSD oil into interior Sindh from Hub Balochistan. During the hearing, investigation ofQicer produced him before the court and submitted that the said accused had been absconder since long, however he was arrested on the last date of

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hearing when court had rejected his pre-arrest bail application. He further informed the court that prosecution needs his physical remand for further investigation. After his arguments, the court sent him to Customs Department and directed the investigation ofQicer to produce him before the court on the next date of hearing along with a progress report. It needs to be pertained here that on the last date of hearing, counsel for applicant/accused had Qiled pre-arrest bail application and argued that his client is innocent and was falsely implicated in this case.