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Karachi, Tue March 21, 2017

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he Customs Dry Port Peshawar c o l l e c t e d Rs1786.71million Customs Duty (CD) during July to February 2016-17.

The customs duty comprises Miscellaneous Taxes and Redemption Duty (RDI) on Imports.

According to Model Customs Collectorate Peshawar, the performance of dry port was satisfactory during the initial eight months of current Financial Year 2016-17 under the head of Customs Duty.

During the month of February, the Peshawar

dry port collected Rs27.31million RDI whereas it did Rs7.51million Misc Taxes. The dry port generated Rs238.08million CD, so the dry port did total CD of Rs272.90million during said period.

During the month of January, the dry port earned Rs21.0million RDI, Rs13.13million Misc Taxes whereas Rs198.54million was collected under the head of CD. In this way, the total CD collected was Rs232.67million.

The dry port received

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Rs258.94million Customs Duty during December whereas it did Rs237.89million under the same head during the month of November and it collected Rs196.42million under the same head during the month of October FY16-17.

During the month of September, the dry port got Rs176.47million under the head of total CD whereas it did Rs253.46million during August and the dry port collected Rs157.96million CD during the month of July FY2016-17.

Customs foils bid to smuggle 66kg hashish worth million of rupees

PIA pays Islamabad customs 3 monthly pending instalments of Rs70m

Over 100 Chinese firms interested to build 28-storey twin tower

Customs Intelligence to hold auction of non duty paid vehicles on 22nd April

Sialkot Customs foils bid to smuggle Indian cumin, foreign currency

Customs officers in two different raids at Khukhera near Kadani foils bid to smuggle | SEE pAgE 02 |

ThePIAdepositedthreependingmonthly instalmentsofRs70.00millionon14thofFeb | SEE pAgE 03 |

Morethan100Chinesecompanieshave showntheirinteresttobuildiconic28-storey | SEE pAgE 04 |

Customs I&I will hold auction of 20 NDP luxury cars worth millions of rupees | SEE pAgE 14 |

The Sialkot Customs officials foiled a bid of supply of smuggled Indian cumin | SEE pAgE 16 |

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FBR Chief Faheem’s performance allowance restored Tuesday, March 21, 2017

ISLAMABAD: Performance allowance of Faheem Mohammad, a BS-20 officer of Inland Revenue Service, has been restored. The performance allowance of the officer, presently posted as Chief, Federal Board of Revenue (HQ), Islamabad, has been restored with effect from February 27.

Meanwhile, Two Pakistan Customs Service officers have been suspended with immediate effect. The competent authority, exercising the powers conferred under Rule 5(1) of the Government Servants (Efficiency & Discipline) Rules, 1973, has placed Principal Appraiser Razia Sultana Bhutto and Appraising Officer Abdul Kalam Khan, presently posted at Model Customs Collectorate of Appraisement-West, Karachi, under suspension for a period of three months.

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customs foils bid to smuggle 66kg hashish worth million of rupees

KARACHI

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akistan Customs’ Directorate of Transit Trade is set to hold public auction of vehicles on March 14 at Karachi Port Trust and Pakistan International Container Terminal. The vehicles which would be auctioned at KPT, East Wharf, include: Used Toyota Haice Van, Automatic Left Hand, 7 Seater, Model No Q-LH100-G-MRPGT, Capacity. 2446cc, Chassis No. LH-1000052773, Mfg Year. 1989, I/O Japan Used Toyota Van, Automatic, Right Hand, 7 Seater, Model No. Q-CR21GPEZX, Capacity. 1974cc, Chassis No CR21-0157115, Mfg year, 1991, I/o.

Japan Used Toyota Van, Manual, Right Hand, 10 Seater, Model No. Q-CR37GMBZX, Capacity. 1974cc, Chassis No. CR37-5003950, Mfg Year 1991, I/o.

Japan Old and Used Toyota Corolla LXLimited L/H, Manual Car, Model No: EE1001, AEMDSV, Capacity: 1296cc, Brand: Toyota, I/o. Japan, Chassis # EE100-4034026, Mfg Year: 1993 on Plate Vehicles which would be auctioned at PICT include: Used Toyota Corolla L/H Automatic Car, 1800cc, Mfg 1996, Model AE102L-DEPNKA, Chasis No. INXBB02E4Z448214 Used Toyota Corolla L/H Automatic Car, 1800cc, Mfg 1995, Model AE102L-DEPNKA, Chasis No. 2T1BB02E9TC140277.

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ustoms ofUicers in two different raids at Khukhera near Kadani foils bid to smuggle 66 kilograms of hashish worth Rs8.2 million as well as foreign origin tyres worth Rs3 million.

According to the details, vigilance of the RCD highway was stepped up on receipt of credible information relayed to the Collector of Customs, MCC Gwadar Feroz Alam Junejo regarding an attempt by nefarious elements to smuggle a huge cache of narcotics from Afghanistan through Quetta to Karachi and then abroad.

In order to nip the attempt, the collector and Assistant Collector Preventive Kaleem Ullah with strict directive made all out efforts to ensure that the consignment is intercepted and persons involved are apprehended expeditiously.

The team comprised superintendent Preventive, inspector and staff of the mobile squad Khukhera Customs House Gaddani kept strict round the clock vigilance and carried out checking of the vehicles arriving at Khukhera from Quetta.

A vehicle registration No TKZ718 was intercepted and was rummaged by the Customs ofUicers and staff. During the checking, the staff recovered 66 kilograms of hashish canceled in the secret places of the vehicle. The recovered 66 kg

customs Transit Trade to auction vehicles at kpT, pIcT on 14th

hashish and vehicles worth Rs8.2 million of rupees while two culprits namely Saifullah and Abdul Kabir have been arrested.

In another raid at Khukhera the customs staff deputed at check point during checking foiled an attempt to smuggling of 50 used foreign origin tyres worth Rs0.5 million along with vehicle bearing registration No TKC320 valuing Rs3 millions. The same were seized and FIR has been lodged

against the culprits. Meanwhile, The Customs Collector Appraisement West is taking step to make the clearance procedure further simpler and directed the authorities concerned to stop unnecessary marking of examination and calling documents at assessment stage of imported vehicles. The collector issued these directives after a meeting with Karachi Customs Agents Association (KCAA).

The collector agreed to revive the

status of examination-free import of vehicles up to 1800cc covered under SRO.577(I)/2005 dt.6-6-2005 as per previous practice and as per Public Notice No. 31/2005 dt. 17-12-2005, as pointed out by the KCAA representatives. Customs authorities were marking all the imported vehicles up to 1800cc for examination after the launch of online clearance system (WeBOC), about one and a half years ago.

170 currency dealers along Torkham Border lose customers W PESHAWAR

IRfAn BAhADuR

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ith no tax protection, over 170 currency dealers and money changers along the Torkham Border lost 80 percent of their customers due to new border management policy.

Saleem Jan & Brothers, a currency shop owner, said on Thursday he at his Peshawar’s shop, suffered losses incurred to his business

due to strict policy adopted by the border management.

He said the currency dealers, doing business on the Torkham border, have suffered huge losses due to sharp decline in the number of Afghan nationals coming to Pakistan. The dealers of currency at Chowk Yadgar in Peshawar have links with Torkham big-time dealers who give a large amount of Afghani currency to both Pakistani and Afghani transporters for their goods clearance at Afghanistan customs

ofUices along with meeting their personal travel expenses along the Torkham-Kabul Highway, he added.

He further said since Pakistani government has introduced the production of legal travel documents on Torkham border, a prerequisite for all aspiring Afghans for their entry in Pakistan shows decline from 27,000 daily to just 1,400 to 3,000 customers and now that has been reduced to zero, he said. Saleem Jan & Brothers, a currency dealer, told Customs Today that their daily

transaction with transporters ranged from Rs 200000 to almost Rs01million prior to the introduction of border reforms. Saleem Jan said with agreed proUit margin the transporters used to give back money in Pakistani rupees on their return from Afghanistan. “The total volume of our daily trade on Torkham and Chaman was almost Rs12million but now the activity had plunged into Rs15000 or Rs30000 business a day”, he told sadly. He said around 120 of his

friends had abandoned their profession for fear of losses incurred due to new policy. When inquired from Pak-Afghan Chamber of Commerce about the real situation of loss to the trade, he said we export sugar, rice, dry fruits, fruits, vegetables, cooking oil and electronics including other domestic and commercial products of daily use. The ofUicial said the exports to Afghanistan will bring foreign currency to Pakistan as they pay back the price in dollars instead of rupees.

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Over 10.7m cotton bales reach ginneries MULTAN: Pakistan Cotton Ginners Association (PCGA) on Saturday released its fortnightly report indicating national cotton production at 10.722 million bales, showing a percentage increase by 9.99 per cent. Seed cotton (Phutti) equivalent to 10.722 million or 10,722,245 bales have reached ginneries across Pakistan till March 15, 2017, registering a 9.99 per cent gain compared to corresponding period of last year. Out of total arrivals, phutti equivalent to 10,722,328 or 10.72 million bales have undergone the ginning process. The arrivals at Punjab ginneries were recorded 6.9 million or 6,935,370 bales recording a percentage increase of 15.92 per cent compared to corresponding period of last year.

customs earns Rs172.99m more cD & ST during eight months

Tuesday March 21, 2017

National

pIA pays customs 3 monthly pending instalments of Rs70m

ISLAMABAD

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he Model Customs Collectorate Islamabad generated Rs172.99million more Customs Duty and Sales Tax during eight months of Financial Year 2016-17 than the assigned target. According to Collector MCC Islamabad, the collectorate surpassed its both targets of CD and ST as MCC collected Rs3435.42million CD during said period whereas the collectorate was assigned the target of Rs3313.00million.

In this way, the MCC received more revenue of Rs122.42million than the above said CD target. The MCC collected Rs3013.00million Sales Tax during eight months against the assigned target of Rs3063.57million.

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faisalabad ASo confiscates 800-kg smuggled cloths FAISALABAD

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he Anti-Smuggling Organization (ASO) has seized smuggled cloths worth Rs800000 involving duty and taxes of Rs 250000. Sources told Customs Today that Additional Collector Saeed Asad received a tip-off regarding the smuggling of foreign origin cloths.

He formed a team, comprising Deputy Collector Rizwan Khan, Superintendent Saeed Akhtar Joiya, Inspectors Khalid Ashraf Noor, Mehmood Ahmed Dogar, Sepoys Ali Zahid, Muhammad Khalid Dogar, Afzal Hussain, Muhammad Naeem, Muhammad Ashraf and Liaqat Ali to foil the bid. The ASO team raided Rana Ishtiaq Goods, Lal Mills Chowk Faisalabad, and recovered cloths weighed 800 kg from the office. On demand, Khuram son of Abdul Rehman, Maki Market, Faisalabad, could not produce documents regarding the legal import of the items.

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ISLAMABAD

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he Pakistan International Airline (PIA) deposited three pending monthly instalments of Rs70.00million on 14th of February 2017 into the account of Model Customs Collectorate Islamabad. The MCC Islamabad has been corresponding with the Chairman PIA to pay its dues so that colletorate can meet its assigned target of third quarter of Financial Year 2016-17.

According to Shahid Jan, Deputy Collector Customs Air Freight Unit (AFU) Islamabad, it is a major recovery deposited into the account of the MCC Islamabad. From the total amount of Rs70.00million, the AFU recovered Rs50.00million Sales Tax whereas Rs16.00million was collected under the head of Federal Excise Duty (FED) and rest of the Rs04.00million was collected under the head of Customs Duty. Shahid Jan said that in year of 2016 the PIA has been given notice for immediate deposit of Rs1.173billion on three wet leased aircrafts imported by the PIA at the Islamabad International Airport in 2013, against which PIA has only paid Rs310million till 2016 in violation of the decision of the ECC taken in 2013, according to which PIA was required to deposit the amount of Rs1.4billion in monthly instalements but it has

not been deposited since the past three months.

The collectorate has taken a serious notice of this violation, and the PIA has also been informed that in case of non-compliance their NTN will be blocked countrywide and their movable and non-movable properties would be attached. The collectorate has taken a serious notice of this violation, and the PIA has also been informed that in case of non-com-

Shahid Jan said that in year of 2016 the pIA has been given notice for immediate deposit of Rs1.173billion on three wet leased aircrafts imported by the pIA at the Islamabad International Airport in 2013, against which pIA has only paid Rs310million till 2016

SEcp hosts awareness session for investors

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ISLAMABAD

m fAIZAn

www.customsbulletin.com o spread awareness through its investor education program `JamaPunji’, the Securities and Exchange Commission of Pakistan (SECP) in collaboration with the Higher Education Commission (HEC) conducted an awareness session for senior professionals of HECrecognized universities of Islamabad and adjoining areas at its head ofUice. The seminar invited individ-

uals spearheading at their respective universities, the OfUice of Research, Innovation and Commercialization (ORIC). Senior SECP subject matter experts conducted the seminar, elaborating on the legal frameworks for incorporating businesses, private equity for Uinancing startups, microUinance and capital markets for raising Uinance for SMEs. Expert speakers provided information on the SECP’s online incorporation services, fast track registration services and in particular

SECP’s supportive role for development of the entrepreneurial ecosystem of Pakistan. The interactive discussion around private equity for Uinancing startups and SECP’s role in encouraging SME listing lead to healthy debate and feedback. Heads of ORICs, senior academics and other senior representatives from Quaid-i-Azam University, Pakistan Institute of Developmental Economics (PIDE), Air University, Bahria University, Riphah International University.

pliance their NTN will be blocked countrywide and their movable and non-movable properties would be attached.

The Islamabad Customs Collectorate is fully geared up to achieve its revenue target by June 30, 2017.

The collectorate also geared up recovery from other companies and persons. In this regard, the collectorate has ordered the Assistant Collector Preventive to peruse the matter of recovery.

Development projects in full swing in city he provincial government is striving hard to make the city a model one and lot of new development projects are underway.

This was said by Deputy Commissioner Liaquat Ali Chatha while talking to the media here on Sunday. He said problems of people would be resolved on priority and all facilities would be provided to the masses.

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Land officer booked over corruption charges Tuesday March 21, 2017

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SARGODHA: The Anti-Corruption Establishment has registered a case against an assistant director land records over corruption charges. The case has been registered on the directions of director ACE Asim Raza.

The AC sources said on Monday that complainant Muhammad Akram resident of Gulshan Hayat colony Sargodha in his applications said that assistant director land record Sillanwali Muhammad Usman had taken bribe money Rs 100,000 for the registration of a transfer deed. On the recommendations of the inquiry officer, a case has been registered against the accused.

chinese firms interested to build twin tower LAHORE

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ore than 100 Chinese companies have shown their interest to build iconic 28-storey twin tower in the provincial capital during an Investment Road Show at the Pakistan Embassy in Beijing, China.

Spreading over an area of 22 kanals, the construction of the 28stoery twin tower on Jail Road will cost Rs 4.25 billion. Once completed, it will be the biggest commercial hub in the city. It will house ofUices, showrooms, shops and brand outlets, besides a food street.

The road show was organised on

halal conference to start from April 11 LAHORE

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unjab Halal Development Agency (PHDA) has announced 6th International Halal Conference and Expo to be held on April 11 & 12 at a local hotel. Prime objective of the event is to showcase the livestock and allied industries potential for international community and investors with the target to increase Halal trade in Pakistan. According to a spokesman,the agency has facilitated more than 40 international potential buyers and exhibitors who registered to visit Pakistan and observe Livestock and Halal value chain of the country.

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the directive of Punjab Chief Minister Shahbaz Sharif for inviting foreign Uinanciers to invest in infrastructure projects in Pakistan in which more than 100 Chinese Uirms

obtained prequaliUication documents. Pakistan's Ambassador to China Masood Khalid Khalid, Lahore Development Authority (LDA) Director General Zahid Akhter Za-

man and Chief Engineer Asrar Saeed briefed representatives of more than 150 Chinese companies about the project. LDA Director General Zahid Zaman told businessmen about the objective and technical details of the project. He said that the chief minister had directed the LDA to build a tower equipped with modern facilities.

About the project, he said that the proposed tower would have ofUices, departmental stores, food outlets and a cinema. The LDA, he said, had been empowered to grant all approvals regarding plans, development and construction. "We have invited private sector, developers and international partners to come forward and help us with their capital, experience, expertise in real estate development," he added.

parliament okays 43-yr-old companies Act to appoint legal advisors T

ISLAMABAD

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he Securities and Exchange Commission of Pakistan (SECP) has achieved another milestone in ease of doing business as its recommendations to amend the 43-year-old Companies (Appointment of Legal Advisors) Act, 1974, has been approved by the Parliament. According to a statement issued by the SECP, now the Companies (Appointment of Legal Advisers) (Amendment) Act, 2017

has been promulgated and the threshold of paid-up capital for companies to appoint their legal advisor has been increased to companies having more than 7.5 million paid-up capital. “Previously, there were almost 40,000 companies, which were required to appoint legal advisor, and now after the amendment, approximately 10,200 companies are required to appoint legal advisor and around 30,000 companies have been relieved from this regulatory burden through this initiative,” the SECP said.

The Companies (Appointment of

Legal Advisors) Act, 1974, was promulgated in 1974, which earlier required the companies having paid-up capital of 0.5 million and above, to appoint a legal advisor to advise such companies in the performance of their functions and the discharge of its duties in accordance with the law.

It was considered that the requirements of the legal advisor for the small companies was a major hurdle in their corporatization, as it increased the cost of doing business due to hiring of legal advisor to fulUill this mandatory requirement.

pIAf urges fBR to clear stuck-up refund claims LAHORE

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he Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has urged the Federal Board of Revenue (FBR) to ensure early payment of stuck-up refund claims of the export-oriented sectors, which are facing severe hardships.

The PIAF chairman, senior vice chairman Tanveer Sufi and vice chairman Shahzeb Akram said that the businessmen were bearing huge financial cost on their own hard earned stuck-up money; therefore, the FBR chairman should look into the matter and ensure early release of sales tax and income tax refunds. The PIAF members have now started feeling the pinch as they were already in deep troubles and experiencing toughest times because of multiple internal and external challenges. They urged Finance Minister Ishaq Dar to take notice of the situation and issue directions to the FBR authorities to expedite stuck-up sales tax and income tax refund claims. The PIAF chairman said the authorities concerned should take realistic view of the matter and allow the refunds of sales tax and income tax to exporters and manufacturers at the earliest, who were facing severe hardships.

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finance ministry approves Rs6b for pSo to avoid default WASHINGTON

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he Ministry of Finance has approved payment of Rs6 billion to the country’s largest fuel supplier as an urgent case to avoid an international default next week against fuel supplies.

As per the details, the Ministry of Petroleum and Natural Resources and the oil industry decided to put

on hold future fuel oil import orders until the Ministry of Water and Power submits a Uirm plan for payment and draw down of record stocks built over the past few weeks.

The sources said the Rs6b payment ordered by the Uinance ministry would take a couple of days to pass through various bureaucratic process at the Establishment Division and Accountant General OfUice.

The couple of letters of credit (LCs) for oil imports are due for payment

on March 27-28 while the Pakistan State Oil (PSO) had already overexposed itself to even enhanced credit lines. Mainly because of non-payments by the power sector, the receivables of the PSO had gone beyond Rs270bn. These include about Rs231bn outstanding against the power sector led by public sector generation companies of Rs140bn, Rs61bn of Hubco and Rs22 billion of Kot Addu Power Company. Another Rs24bn is due against Pakistan In-

ternational Airlines and the federal government and Rs13 billion against Sui Southern Gas company on account of liqueUied natural gas (LNG) supplies.

It was in this background that a delegation of Oil Companies’ Advisory Committee (OCAC) had consultations with the petroleum ministry where it was decided to put on hold import orders at the risk and cost of the water and power ministry.

The sources said the power ministry had been told to submit a comprehensive and Uirm demand plan for furnace oil, gas and LNG so that the supplies of these fuels could be adjusted. Two leading reUineries had informed the government that they would need to go on shutdown their operations because the PSO was not uplifting furnace oil and as a consequence the production of other petroleum products like jet fuel, petrol and diesel would be affected.

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ISLAMABAD

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he Model Customs Collectorate Gil Baltistan exceeded in all duty ta amongst all the stations of North Reg with extra amount of Rs826.16milli The assigned target was Rs1320.80m lion whereas the collection w 2146.95million during July to Febru of Financial Year (FY) 2016-17.

According to sources of chief collec ofUice headquarters Islamabad, No Region comprises four customs stati including MCC Islamabad, Peshaw Samberial and Gilgit-Baltistan.

The Customs North Region was assign the target of Rs23121.80million un the head of all duty taxes whereas North collected Rs21975.84mill against the assigned target while it

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Tuesday, March 21, 2017

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the shortfall of Rs1145.96million.

The MCC Islamabad was assigned Rs8414.00million target under the head of collection of all duty and taxes whereas it collected Rs8359.46million against the assigned target during July to February 2016-17. The collectorate of Islamabad lost Rs54.54million against its assigned target for all duty taxes.

The Peshawar Collectorate was assigned the collection target of Rs14044.00million under the head of all duty taxes whereas the collectorate collected Rs12128.33million under the same head. In this way, the collectorate has lost Rs1915.67million during eight months (July to February) FY16-17.

The North Region’s Customs Station Collectorate

of Samberial was assigned the Rs757.00million target under the head of collection of all duty taxes whereas it collected Rs658.90million against the assigned target. In this way, the collectorate made 12.96% of difference during eight months of current Financial Year 2016-17.

The North Region has formulated a new plan to meet the target of third quarter of current Uinancial year. To improve the performance, the chief collector north had visited all the four stations to discuss matters with the staff concerned.

d ssigne was a e d a b der th slama et un g r mcc I a t axes n and t millio y 0 t 0 u .

4 d ll Rs841 llion n of a .46mi 9 lec tio l 5 o 3 c 8 f s o ing ted R head et dur collec g t r i a s t a d w h e re signe 6-17 the as t s n y 201 i r a u aga r o feb Jul y t

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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

State Bank’s step to control imports

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he State Bank of Pakistan has imposed 100 percent cash margin requirement on import of hundreds of items to restrict imports and reduce trade gap which has widened up to $20.2 billion during the first eight months of the current fiscal year.

According to experts, the banks has used margin requirement as a tool to control the flow of funds and restrict the import of commodities which are not considered essential for the national economy. The move will keep the foreign exchange reserves at certain level to enable the import of goods required for a growing economy. According to a report of the Pakistan Bureau of Statistics, the record high trade deficit during July-February reveal vulnerabilities in the economy. The government is already negotiating for new loans to maintain its forex reserves in the background of falling remittances,comparatively low foreign direct investment and rising oil prices. The government will have to minimize its reliance on loans at high markup rates.

According to the report, the exports downed by 3.9 percent to $13.3 billion during the last eight months, which is $541 million less than the volume of exports during the corresponding period of the last year. In contrast, the import are increased by 16 percent to $33.5 billion during the same period. The import bill is $4.6 billion higher than the previous year.The exports remained 53 percent of the annual target of $24.8 billion in eight months, showing that the government has failed to arrest the falling exports like the previous three years despite offering twobailout packages for exporters during the last one year. As a matter of fact, money is not the only issue to streamline the economic affairs.

The prime minister has offered Rs180 billion export package recently without addressing the root causes of the problem. There is a need to improve soft image of the country, cut the cost of doing business, create conducive environment for foreign investors by providing them tax relief and improve energy supply. Instead of providing tax relief, the government has reportedly imposed new taxes of Rs1.2 billion on businesses and banking transactions, increasing the cost of doing business in the country.

Steps to stop money laundering M LAHORE

DR AfTAB AfZAL

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oney laundering is another form of corruption.

When money is generated through illegal means, it is difUicult to put it directly into any investment venture. A black money holder looks for a window of opportunity to stash it at a suitable place. When thrust of the government is to stop money laundering and not on the measures to stop its generation it fails on both accounts at the end. If dirty money is abundantly generated in case of Pakistan, the best way for the government is to utilize it in a positive manner. That doesn’t mean the government should give

a free hand to corrupt elements to do whatever they want to do by dodging the law. Of course campaign against corruption should continue, but a window of opportunity should remain open for illegal money holders. Otherwise, the country’s wealth will continue to Uly to foreign destinations. The State Bank of Pakistan has advised the banks to launch capacity-building programmes for their staff to control money laundering within and outside the country.

SBP Governor Ashraf Mahmood Wathra in a meeting with heads of the country’s banks, draw their attention towards the rumours ripe in the social media that ofUicials of a particular bank are suspiciously travelling abroad without any apparent cause

which has created a panic-like situation in the Uinancial circles. Reports suggest several maUia groups have propped up in various parts of the country and they have set up syndicates to commit organized crimes. A US State Department report accuses some money changers of laundering billions of dollars annually. No doubt terrorist organizations can also use this facility to get their funding from hostile countries to launch subversive activities in Pakistan. Some complete the process of money laundering by ‘carriers’ who get a clean chit at airports in connivance with corrupt ofUicials. Others use illegal money changers to facilitate illicit money movement from Pakistan to the United Arab Emirates, the

United States, the United Kingdom, Canada, Malaysia and Australia. The black market economy of the country is a challenge for the government, as it runs through real estate sector, prize bonds maUia and smuggling cartels. However, it is also blessing in disguise as it is the driving force to spur various economic activities in the country. It is good omen that the country has started its journey towards corruption free environment and has improved its ranking in the latest report of the corruption perception index. However, money laundering cannot be stopped only by banks, but all the government agencies and departments will have to work in tandem to achieve the common goals.

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China-Taiwan trade slips 0.7% in 2016 BEIJING: Trade between Taiwan and China fell 0.7 percent in 2016 from the previous year, according to a Mainland Affairs Council (MAC) report released Monday. The report says, based on Taiwan customs statistics, that bilateral trade in 2016 was valued at NT$117.9 billion (US$3.86 billion). Despite overall trade declining in the year, the data showed that Taiwan’s exports to China rose by 0.6 percent to US$73.9 billion, while imports fell 2.8 percent to US$44 billion. Exports to China fell to US$73.4 billion in 2015 from US$84.7 billion in 2014. Imports also fell in 2015 from US$49.25 billion in 2014 to US$45.26 billion. In addition, the value of Taiwanese companies’ Taiwan government-approved investments in China declined in 2016 by 11.8 percent year-on-year to US$9.67 billion, due to rising operating costs, the MAC said.

fpccI body concerned over damages to apple crop, exports KARACHI

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rought over some last years, post harvest losses, malfunctioning of markets, lack of information on the part of farmers and absence of incentive to the growers and most alarmingly fruit fly have been identified as the main actors damaging apple crop and its exports; leading to decrease in its cultivation. Fruit fly infestation had not only caused a huge loss to fruit growers but badly affected the exports worth billions of rupees annually, observed Chairman, Federation of Pak-

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istan Chambers of Commerce and Industry (FPCCI) Standing Committee on Horticulture Exports, Ahmad Jawad in a statement here on Thursday.

Ahmad Jawad asserted, “ If we could not overcome fruit fly attack, we would be isolated from the world fruit market.” Similarly, Federal government established an Apple Grading Plant in Quetta through Pakistan Horticulture Development and Export Company (PHDEC) in August 2008. But, he pointed out, this plant was not operative due to security situation. He was of the view that local apple farming would be badly affected due to large scale penetration of Chinese and New Zealand apples into our market for last couple of years. Chinese and New Zealand waxed apples were sold in our markets at Rs 160 to 300 per kg and consumer had no option to buy these due to unavailability of the local product throughout the year due to lack of required infrastructure/facilities. He said Pakistan’s apple production was likely to fall by twenty percent every year.

Tuesday March 21, 2017

Chambers

fIo to resolve disputes of businessmen against insurance companies M

ISLAMABAD

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Raeesuddin Paracha, Federal Insurance Ombudsman (FIO) has assured that his organization would resolve the genuine disputes of business community against the insurance companies to provide them speedy relief.

He said this while addressing as the Chief Guest at a one day awareness session on “Dispute Resolution Mechanism” organized by Islamabad Chamber of Commerce and Industry in collaboration with FIO. He said FIO has provided monetary relief of Rs.410 million in 2016 to the aggrieved policyholders.

He said that the gradual awareness about the role of FIO institution was yielding positive results as 120% more cases were lodged during the year 2015 as compared to the previous year while the number of case had increased by 200% in 2016 compared to the previous year.

Paracha added that presently FIO was offering its services in Karachi, Lahore and Islamabad and added that more ofUices were being considered in other cities of the country

to provide necessary relief to the aggrieved insurance policyholders.

Dilating upon the prime role of his organization, he said that FIO was addressing disputes of maladministration between Insurance Companies and its policyholders, adding that the mandate of the FIO was to provide free of cost and speedy resolution of grievances

within 60 days. He said that in 80% of the cases, verdict was given in favor of the complainants. He stressed that policyholders should carefully read the terms & conditions of insurance policies to avoid rejections of their claims. He briefed about the complaint Uiling procedure and other available facilities being provided by the FIO ofUice. It was highlighted that

Dubai chamber of commerce and Industry to lead trade mission to India

T DUBAI

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he Dubai Chamber of Commerce and Industry (DCCI), has Uinalised its preparations for its upcoming trade mission to India, which will take place from March 14-17, as part of its Global Business Forum series roadshow.

The trade delegation will include dignitaries and senior businessmen from the UAE who will visit Mumbai and Ahmedabad, and meet key stakeholders from the cities’ private and public sectors. Senior ofUicials from the Chamber are scheduled to meet with the Chief Ministers of Gujarat and Maharashtra during the visit, and discuss new ways the UAE and India can enhance economic co-

operation. Majid Saif Al Ghurair, Chairman, Dubai Chamber, will lead the delegation, which will be joined

by Hamad Buamim, President and CEO, Dubai Chamber; Essa Al Ghurair, Chairman of Al Ghurair Resources; Abdullah Al SharaUi, President, Gerab National Enterprises; Ismail Akil Abbasi, Chairman, Abbasi Group; Adel Al Ali, Executive Director -Development, Ports Customs and Free Zone Corporation Hotels; Kulwant Singh Thiara, President, Indian Business and Professional Council (IBPC) and Mr. Ahmad Belyoha, Chairman, Emirates Macaroni Factory. Buamim said that the trade mission supports the Chamber’s strategy to expand its international network and explore trade and investment opportunities in promising markets, which its

members and business in Dubai stand to beneUit from.

Dubai Chamber’s President and CEO described Mumbai and Ahmedabad as dynamic markets that offer a plethora of opportunities in fast-growing sectors. Telecommunications, hospitality, Uinance, construction, and pharmaceuticals, were identiUied as sectors that offer the most trade and investment potential in Mumbai, while Ahmedabad offers exciting growth prospects within its retail, textile, food and beverage, automobiles, gems and pharmaceuticals sectors.

Buamim added that the delegation’s visit to India would lay the groundwork for forming important partnerships in the country, while it would also help pave the way for future cooperation in key areas that would bring about mutual beneUits.

the policyholders could Uile their complaint with FIO by hand, by courier, online or through email.

Speaking at the occasion, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry appreciated the role of Federal Insurance Ombudsman in providing free of cost and speedy resolution of disputes of policyholders against the insurance companies.

He said the existence of FIO institution has provided a sense of protection to the policyholders against the maladministration of insurance companies. He stressed that FIO should enhance its network by opening more offices in major cities of Pakistan so that maximum aggrieved policyholders could benefit from its services.

He said that ICCI would try to create more awareness about the positive role of FIO in business community so that maximum number of policyholders could take beneUit of its services. Khalid Malik Senior Vice President ICCI and others also spoke at the occasion and appreciated the role of FIO in providing relief to aggrieved parties in their disputes against the insurance companies.

LccI accuses fBR of ‘misusing’ section 38-B ahore Chamber of Commerce and Industry (LCCI) President Abdul Basit Raids has accused Federal Board of Revenue (FBR) of practicing anti-business tactics and urged Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar to take notice of the situation. In a statement issued here, the LCCI president, LCCI Senior Vice President Amjad Ali Jawa and LCCI Vice President Muhammad Nasir Hameed Khan said that misuse of section 38-B is grinding the business community, adding that such situation would cause huge damage not only to the business activities but to the government’s reputation as well. They said that Section 38B of Sales Tax Act, 1990 is being harmfully used by the officials of tax department. They are visiting markets and business premises to unjustifiably harass the business people. –CB Report

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Cost Accountant Ahmed promoted to BS-20 Tuesday March 21, 2017

National muhammad Sadiq assumes charge as faisalabad collector ISLAMABAD

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ISLAMABAD: Ahmed Ameer Khan has assumed charge of the post of Cost Accountant, Corporate Regional tax Office, Karachi on his promotion to BS-20. The officer, in pursuance of Board’s Notification No.0573-IR-I/2017 dated 25.02.2017, relinquished the charge of the post of Cost Accountant (BS-19), Corporate Regional Tax Office, Karachi with effect from March 13. Meanwhile, Muhammad Hanif, a Pakistan Customs Service officer of BS-17, is going to retire from the government service on attaining the age of superannuation. The officer, presently posted as Superintendent at Model Customs Collectorate of Preventive, Karachi, will stand retired from the government service with effect from April 30.

Samaira nazir assumes charge as Dg of post clearance Audit S

ISLAMABAD

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uhammad Sadiq, a Pakistan Customs Service officer of BS-20, has assumed charge of the post of Collector, Model Customs Collectorate, Faisalabad. The officer, pursuing the Board’s Notification No.0715-C-I/2017 dated 03.03.2017, relinquished the charge of the post of Collector, Model Customs Collectorate (Appraisement), Lahore with effect from March 6.

Meanwhile, Basharat Ali, a BS-16 officer of Pakistan Customs Service, has been suspended.

The competent authority, exercising the powers conferred under Rule 5(1) of the Government Servants (Efficiency & Discipline) Rules 1973, has placed the officer, posted as Examiner at Model Customs Collectorate of Preventive, Karachi under suspension with immediate effect for a period of three months.

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Late commissioner Abdul hameed mourned he Federal Board of Revenue has announced deep regret over the sad of Abdul Hameed Sangi, a BS20 officer of Inland Revenue Service.

Abdul Hameed Sangi was born on March 31, 1958 and joined government service on Oct 3, 1982. At the time of his death, the officer was posted as Commissioner at Corporate Regional Tax Office, Karachi. The FBR appreciated the dedicated services rendered by the deceased officer. In expressing its sense of the grief at his death, the Board conveyed its commiseration to the members of the bereaved family, praying, “May his soul rest in eternal peace and may ALLAH give patience and fortitude to the family members to bear this irreparable loss.”

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amaira Nazir Khan, a Pakistan Customs Service ofUicer of BS21, has taken the charge of the post of Director General, Directorate General of Post Clearance Audit, Islamabad.

The ofUicer, pursuing the Board’s NotiUication No.0651-C-I/2017 dated 28-02-2017, relinquished the charge of the post of Chief Collector of Customs (Central), Lahore on March 3 and assumed the charge of the post of DG, Directorate General of Post Clearance Audit, Islamabad on March 10. Meanwhile, Sardar Ali Khawaja, an Inland Revenue Service ofUicer of BS-20, has taken the charge of the post of Chief (Legal Wing), Federal Board of Revenue (HQ), Islamabad. The ofUicer, in pur-

suance of Board’s notiUication No. 0549-IR-I/2017, dated 22.02.2017,

relinquished the charge of the post of Commissioner-IR (West Zone-III),

Regional Tax OfUice, Islamabad with effect from February 27.

ASo impounds Rs 90m illegal items, vehicles C

LAHORE

m hAYAT

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ustoms Lahore Anti-Smuggling Organization has confiscated Rs 90.2 million non-customs paid goods and articles and vehicles during the month of February financial year 2016-17. As per details, the ASO confiscated Rs 92,000,000 illegally imported goods and vehicles which if were dumped in the market may have posed serious damage to the legal business in the market.

On information, the ASO seized Rs 75 million skimmed milk and bags of dry milk from a rice Sheller from Muridke. The customs official sources said that the milk was being supplied to the outles which make ice cream in the city. The ASO confiscated Rs 3 million gas cylinders, piano soft ink pen, tri-circle, steel nail, electronic motor pump, Panasonic automatic iron, aluminium foil paper, Vatika hair oil and other goods. The goods were to

be supplied to the city markets to various small traders through Hino Truck registered TTC-306.

Yet in another raid the ASO impounded Rs 1.5 million skimmed milk and empty bags while 32 cartoons of smoking coal worth Rs 1.5 million were also seized during the month.

Similarly the ASO seized cartons of match cracker loaded on Hundai LZJ-7031.

The collectorate also seized millions of rupees worth noncustoms paid luxury vehicles from various places in the city.

The crackdown against the smugglers was undertaken by a

team of Customs ASO led by Assistant Collector Asim Awan.

Sources said that the Assistant collector has instructed all the ASO staff to adopt zero tolerance against any kind of smuggling of non-customs paid items under the limits of collectorate of Lahore Preventive.

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Nasir Ghouri assumes charge as Commissioner-IR ISLAMABAD: Muhammad Nasir Khan Ghouri, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR. The officer, in pursuance of Board’s Notification No. 0674-IR-I/2017, dated 01.03.2017, relinquished the charge of the post of Commissioner-IR (Zone-I), Corporate Regional Tax Office, Lahore and took the charge of the post of Commissioner-IR (HRM), Corporate Regional Tax Office, Lahore with effect from March 3. Meanwhile, Aftab Ahmad Razzaqi, Cost Accountant (BS-20), has assumed charge of the post of Chief of Trust Fund for Accelerating Growth and Revenue (TAGR). The officer, in pursuance of Board’s office order no. 20(1)/S.MIR-I/2017 dated 03.03.2017, relinquished the charge of the post of Secretary, Federal Board of Revenue (HQ), Islamabad with effect from March.

Afghan transporters stage demo for opening of border KHYBER AGENCY

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ransporters of Afghan Transit Trade Agreement, stuck up on the Torkham border, staged a protest demonstration on PakAfghan border on Thursday. The Pakistan authorities have suspended transportation of commodities and vehicle movements on the border.

Dozens of drivers and cleaners, holding black flags, were chanting slogans in favour of their demands.

They were of the view that if they were not allowed to cross the border to Afghanistan then let them return to Karachi to unload the goods there.

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Parked in Torkham parking lots for the last 21 days, the perishable goods loaded on trucks were rotting which was big loss for them. The drivers and cleaners have to cook their food themselves after bringing vegetables from eight kilometers away from from Landi Kotal as Torkham bazaar has remained closed since the first day of the trade suspension. They lamented that they are short of money and are meeting their daily needs by borrowing from their colleague drivers. They demanded the authorities concerned to have mercy on them and address their problem to save them from starving under the open sky.

It is worth mentioning here that approximately 235 vehicles loaded with export and transit goods including cement, flour, potatoes, sugar and small machinery have been stuck on Torkham border. Meanwhile, the Torkham was sealed for indefinite time after resuming it for two days, border security official said on Thursday.

National

Additional collector Saima Aftab issues notice to owner of non-duty paid vehicle

gawadar customs seizes mobile accessories worth Rs 1.2 million KARACHI

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he Model Customs Collectorate Gawadar has seized smuggled mobile accessories worth Rs 1.2m and nabbed two accused in an operation in Omara. According to details, Collector Saeed Akram received a tip-off regarding transportation of smuggled goods from Omara. He immediately called up the customs anti smuggling team and directed them to thwart the smuggling attempt.

The customs Anti-Smuggling Organization (ASO) team, under the supervision of Inspector Preventive Badar Shah, raided a warehouse and recovered 50 smart phones, 500 mobile batteries, chargers, casing, mini hard disk and other miscellaneous mobile accessories. The said items were packed in white bags. The ASO team confiscated the items and asked the watchman about owners of the items. On his information, the ASO team arrested two accused. The ASO team registered a case against the accused and forwarded the case to the customs adjudication for further proceeding.

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FAISALABAD

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ustoms Adjudication Additional Collector Saima Aftab issued a show cause notice to suspect in non-duty paid Toyota car and auto parts case involving Rs2.86 million. As per the details, Faisalabad Customs Intelligence and Investigation following information impounded a used a Toyota car bearing near Jhang Road loaded with different types of Auto parts The team asked the driver of the vehicle Nasir ZaUir show documents regarding legal import of the vehicle and goods but he could not produce the same. Therefore, the ofUicials impounded the vehicle and goods under the customs laws and forwarded the case to Customs Adjudication for further legal action.

Now, Additional Collector Saima Aftaf issued notice to the accused person on the violation of Section 10-A 89(1) and 156(1) of the Customs Act, 1969. However, the adjudication has directed the accused to Uile a reply on the next date of hearing. The seizing agency has also been directed to Uile a reply in the case. The adjudication authority

Tuesday March 21, 2017

also directed Customs Intelligence Deputy Director Mirza Mubsshir Bhaig to attend the hearing on schedule date along with relevant record. Meanwhile, The Deputy Collector Customs Adjudication Asma Hameed has issued Order-inOriginal (ONO) in favour of AntiSmuggling Organization Faisalabad.

According to details, a team of the Anti-Smuggling Organization (ASO) intercepted a Mazda truck bearing registration no. STK – 737 loaded with ceramics tiles. The non duty paid vehicle that was loaded with ceramics tiles and was brought into

country without payment of customs duty and taxes. The customs ofUicial asked the driver to produce documents regarding import of vehicle and goods . But he failed to produce the lawful proof. The particular of the vehicle and goods were checked on the website and found not tallied. The incharge of PRAL customs dry port Faisalabad has informed that the vehicle having number no. STK- 737 Mazda Truck (cut & weld) imported in the country.

Seizure report along with enclosures is being submitted to adjudication authority for adjudication.

hyderabad ASo seizes smuggled auto-parts

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HYDERABAD

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he Customs Anti-Smuggling Organization (ASO) has confiscates foreign origin smuggled auto-parts worth Rs340000 involving duty/taxes of Rs157760 during an operation in Sukkur division. Following a tip-off received through Model Customs Collectorate Hyderabad Collector Agha Shahid Majeed Khan, the ASO team conducted a raid at Sukkur-Jacobabad to foil a smuggling bid.

Under the supervision of Additional Collector Rehmatulah

Vistro, ASO team, comprising Ghulam Shabir Phulphuto, Inspector Nasrullah Jilal, Inspector Ayaz Ali Shah, Inspector Abdul Wahab Sheikh, Inspector Muhammad Jurial Abbasi, Inspector Agha Nazir Ahmed, Sepoys Shabbir Ahmed Thebo, Iqbal Sheikh, Hawaldar Mehram Ali and Driver Manzoor Shori, carried out a search operation and recovered smuggled auto-parts being smuggled into Pakistan.

The ASO team registered separate cases of smuggling against accused and forwarded the cases to the customs adjudications.

After a seizure report, the ASO team deposited the confiscated

items into Sukkur State Warehouse.

Meanwhile, The Anti-Smuggling Organization (ASO) Hyderabad has seized 9880 liters of Iranian oil and HSD diesel valued Rs494000 involving duty and taxes of Rs380380 during a raid on Miani Forest National Highway Hyderabad. The value of the tanker is Rs500000.

Sources told Customs Today that Collector Hyderabad Agha Shahid Majeed Khan received a tip-off about the smuggled Iranian HSD. He constituted a team under the supervision of Additional Collector Omer Shafique to foil the smuggling attempt. Other

team’s members comprised Inspectors Asadudin Mirza, Muhammad Iqbal, Shakeel Khan, Mushtak Ali Lakho, Sepoys Essa Khan Chandio, Ghulam Sarwar, Hawaldar Muhammad Ahmed, Drivers Jawaid Maskor and Sadiq Khaskheli.

The raiding team intercepted an oil tanker with registration No. E-9119 and seized the smuggled Iranian oil and HSD diesel. The diesel oil was being smuggled from Karachi into interior Sindh.

Prior to the confiscation, the raiding team asked the driver to produce legal documents regarding the import of Iranian oil but he failed to produce the same.

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Australia consumer sentiment steadies in March Tuesday March 21, 2017

World

SYDNEY: A measure of Australian consumer sentiment held steady in March as worries over family finances were offset by optimism over the longer-term economic outlook, a survey showed on Wednesday. The survey of 1,200 people by Melbourne Institute and Westpac Bank found consumer sentiment edged up by 0.1 per cent in March, from February when it climbed 2.3 per cent. That left the index at 99.7, just below the level where the number of optimists matches pessimists. The sub-indices in the survey showed respondents judged recent news on the economy as much more favourable than at the end of last year, perhaps reflecting surprisingly upbeat data on economic growth released early in March. Expectations for the economic outlook over the next 12 months rose 1.6 per cent, and the assessment of economic conditions for the next five years jumped 3.9 per cent.

Dubai customs officer jailed for accepting bribes

hk jewelry outlook sparkles on markets demand HONG KONG

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DUBAI

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ubai A customs ofUicer has been jailed for six months for taking a total of Dh30,000 in bribes to allow cargo dhows to sail out of Dubai Creek without being searched. The Dubai Court of First Instance convicted the Emirati ofUicer of taking Dh200 in bribes from captains of cargo dhows after stamping the exit permits and allowing them sail away without being actually searched during 2016.

Presiding judge Fahd Al Shamsi also Uined the defendant Dh30,000 [total amount of the bribes]. The defendant had pleaded not guilty and refuted the bribery charges.

The accused was apprehended in a sting operation after he charged an Iranian captain Dh200 and stamped for him the exit permit without actually searching his dhow. The de-

canadian small business lending dips in Jan ending activity to small Canadian businesses edged down in January, though borrowing by larger firms accelerated, data showed on Wednesday, pointing to an economy that is still recovering from an oil price shock two years ago. The PayNet Canadian Small Business Lending Index decreased to 120.3 from 121.9 in December, while lending was down 6 percent compared to a year ago. But medium-sized companies fared better, rising to 238.3 from 221.7. Activity was flat from a year ago.

Small business lending has fallen from a peak reached in June 2015 as the economy was hit by the drop in the price of oil, a major export for Canada. But economists expect the worst of the oil fallout is over. Small business lending is also improving compared to the double-digit annual decreases seen last year, said PayNet President Bill Phelan. –CB Report

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fendant stamped a number of exit permits and allowed several cargo dhows, according to records, to sail away without being searched between June and October 2016. The Emirati had admitted to prosecutors that he was stationed at Al Shindagha and used to charge captains Dh200 for allowing them to sail out of Dubai Creek without be-

ing searched. The defendant said in October an Iranian captain came to him to request him carry out the search procedures and was apprehended after he collected Dh200 and went to check the dhow.

Records said the accused signed a written confession about what had happened. Sunday’s ruling remains subject to appeal within 15 days.

france wheat exports outside Eu hits highest level in January

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rench wheat exports outside the European Union were firm in January, hitting their highest level since August, although total exports so far this season remained well below the year-earlier level, customs data showed.

France, which faced its worst wheat harvest in three decades in 2016, exported some 372,000 tons of soft wheat outside the European Union in January, up from 361,000 in December, due notably to strong

sales to Algeria, Yemen and Cuba.

This took the volume since the start of the 2016/17 season on July 1 to 2.8 million tons, down 51 percent from last season when the EU’s largest wheat producer had shipped 5.7 million tons of wheat outside the EU in the seven first months of the campaign. Including 441,500 tons exported to other EU countries, France shipped almost 814,000 tons of soft wheat in January. –CB Report

he local multibillion-dollar jewelry industry is upbeat about its prospects amid improving signs of a US economic recovery and strong demand from emerging markets. But with competition growing fiercer, jewelry manufacturers and retailers face the challenge of stepping up their game, finding the best suppliers and upgrading their technology to get a winning share of the surge in demand.

Despite its small population of a little more than 7 million, Hong Kong is seen having a good grip of its role as a global jewelry production and trading hub, making Secretary for Commerce and Economic Development Gregory So proud of the Chinese Special Administrative Region (SAR). The Hong Kong Trade

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Development Council (HKTDC), the global city’s organizer of trade fairs and promotional activities, just opened its fourth edition of the HKTDC Hong Kong International Diamond, Gem & Pearl Show at AsiaWorld-Expo in the international airport on Lantau island, with 1,900 exhibitors from 39 countries and regions participating. “Our fairs are designed to address these issues,” Benjamin Chau, HKTDC deputy executive director said in a statement at the opening of the jewelry show, referring to the economic and business challenges faced by the local jewelry manufacturers and retailers. The event, which runs until March 4, showcases raw jewelry materials such as diamonds, precious gems, semiprecious stones, and exquisite pearls.

On Thursday, March 2, the 34th HKTDC Hong Kong International Jewelry Show will open as well for its five-day run at the HK Convention and Exhibition Center in Wan Chai North.

markets welcoming Swiss wine aud, a French speaking Canton near Lake Geneva, was the sole focus at a Swiss wine tasting organised by Hong Kong’s Swiss wine importer, Swiss Wine Shop, and its wine trade organisation, OfUice des Vins Vaudois (OVV), this week in Hong Kong. Producing about 25% of the country’s total wines, the region is home to a UNESCO site, Lavaux, an area known for its beautiful, terraced vineyards.

The majority of its wines are consumed domestically and less than 2% of the wines are exported.

Trailing behind Germany and the UK, Asia has slowly emerged on

the map after Swiss wines were first exported here a few years back, Benjamin Gehrig, project manager of OVV. Speaking of Vaud’s predominant white grape variety, Chasselas, the trade ofUicial revealed that it is taking off in Japan, thanks to its low acidity and low alcohol level (usually just around 12%). “More than 60% of grapes planted in Vaud are Chasselas, and it has been very popular in Japan since we started exporting there,” he explained, even going further to call Swiss wine, a novelty in Asia, “the best kept secret of Switzerland”. –CB Report

S African Engen agrees to export gas-oil to Singapore

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SINGAPORE

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A’s Engen is set to export a gasoil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35,000 tons of gasoil to Singapore from Durban, ship-

ping Uixtures showed.

The cargo likely comprises high sulphur gas-oil whose premium has risen to a more than three-month high this month due to prompt demand in Southeast Asia, four traders and ship-brokers said.

SA is exporting 500 parts-permillion (ppm) sulphur gas-oil and importing the lower sulphur grades, a Singapore-based middle distillates

trader said, declining to be identiUied as he was not authorised to speak with the media. SA consumes diesel with 10ppm sulphur in its domestic market, he added.

A reUinery typically exports high sulphur gas-oil when a secondary unit is under maintenance and is unable to process the fuel to make low sulphur diesel, traders said.

The price spread between diesel

with 10ppm sulphur and 500ppm sulphur gas-oil narrowed to 5c a barrel in late November, its tightest in more than three years, before widening slightly this year, Reuters data shows. The gap between the two grades narrowed due to a Ulood of supply of low sulphur diesel from China, while Southeast Asian countries are still consuming the higher sulphur grade, traders said.

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Turkey seeks full restoration of agri. exports to Russia ANKARA: Turkish authorities ask Russia to lift all restrictions on supplies of Turkish food products. In particular, it goes about the supplies of Turkish tomatoes to Russia. Earlier this month, Russia lifted restrictions for imports of Turkish carnations, onions, shallots, cauliflower, broccoli and salt. Yet, imports of pears, cucumbers, tomatoes, apples and poultry are still banned. Should the restrictions be lifted, Turkey plans to increase trade with Russia to $100 billion a year. Russia banned imports of the following fruits and vegetables from Turkey: oranges and tangerines, grapes, apples, pears, apricots, peaches, including nectarines, plums, strawberries, tomatoes, onions and shallots, cauliflower, broccoli, cucumbers and gherkins.

uS customs officer steals checks from post office former U.S. Customs and Border Protection officer from Van Nuys will surrender April 17 to start his sentence of 37 months in federal prison for stealing checks from a mail facility and arranging to have an accomplice deposit them. Carlos Canjura, who had been a customs officer since 2008, was also ordered in Monday’s sentencing to pay $20,145 in restitution. Canjura, 54, was assigned to a U.S. Postal Service sorting facility in Torrance, where his duties included examining mail and parcels coming into the country for contraband, counterfeit goods, and possible fraudulent financial checks or credit cards. Canjura stole mail that contained traveler’s checks and thirdparty checks, which he gave to an accomplice to deposit into accounts at Bank of America, according to the U.S. Attorney’s Office. The 2016 indictment against Canjura charged him with four counts each of bank fraud and possession of stolen mail.

World Customs

malaysian police seizes Erimin-5 pills worth Rm50m

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Turkey, ukraine to sign passport-free travel deal urkey and Ukraine will sign an agreement allowing their citizens to travel to each other’s countries without passports, Prime Minister Vladimir Groysman has said, just ahead of a two-day visit to Turkey starting Tuesday. “An important step will be taken during my visit to Turkey,” Groysman told Anadolu Agency on Friday. Groysman will pay a two-day visit to the capital Ankara on March 14-15. “Ukrainian citizens can travel to Turkey and Turkish citizens can travel to Ukraine with their national identities thanks to an agreement that will be signed between the governments of Ukraine and Turkey,” Groysman said. Groysman added the two countries should also increase mutual flights. –CB Report

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KUALA LUMPUR

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alaysian Police crippled an attempt by a drug syndicate to smuggle in 2.5 million Erimin-5 pills worth about RM50 million which were hidden in a furniture-laden container from Taiwan.

Bukit Aman (Federal Police) Narcotics Criminal Investigation Department director Datuk Seri Mohd Mokhtar Mohd Shariff said acting on intelligence, the Special Tactical Intelligence Narcotics Group (STING) and the Royal Malaysian Customs raided the container in Port Klang, Selangor.

He said the teams found the methamphetamine pills in between several sofas and coffee tables. “This is the biggest drug haul so far this year.”

“The drug is believed to be meant for the local market as well as Thailand, Singapore and Indonesia,” he told a press conference at the federal police headquarters. Mohd Mokhtar said following the discovery, police picked up 10 men, aged between 29 and 57, in several locations in the federal capital.

“Those detained are believed to be members of the drug syndicate. Police have also seized cash in local and various foreign currencies totaling RM900,000, Uive luxury vehicles and jewelry,” he said. Mohd Mokhtar said the suspects were being remanded for seven days to facilitate investigations under Section 39B of the Dangerous Drugs Act 1952.

Meanwhile, The Malaysian capital market grew to RM2.84 trillion at end-2016, amid prevailing uncertainties and cautious investor sentiment, the Securities Commission (SC) said.

Despite subdued global fundraising, the capital market saw total fundraising of RM98.5 billion, primary market issuances of RM86.7 billion, corporate bond and sukuk market was raised to RM85.7 billion. It said approximately RM1 billion was raised via new equity listings with 11 initial public offerings and one reverse takeover. The fund management industry maintained its upward growth trajectory in 2016, whereby total asset under management increased 4.3 per cent to RM696.3 billion in Dec 2016 from RM667.9 million in Dec 2015, supported by among others, an expansion of the unit trust industry.

Tuesday March 21, 2017

pound loses value as Brexit talks revived ound Sterling slipped on after Britain’s parliament paved the way for Prime Minister Theresa May to launch divorce talks with the European Union, while stocks were subdued ahead of an expected U.S. interest rate later in the week. The pound GBP=D4 retreated 0.1 percent to $1.2201 after both houses backed the so-called Brexit bill, opening the door for May to start the clock on the required two-year negotiation period by the end of this month. The euro EUR=EBS hovered at $1.06545, failing to regain any of Monday’s 0.2 percent loss. On Monday, sterling had jumped 0.36 percent after Scotland’s First Minister Nicola Sturgeon demanded a new independent referendum in late 2018 or early 2019, once the terms of the UK’s exit from the EU are clearer. The MSCI’s broadest index of Asia-Pacific shares outside Japan MIAPJ0000PUS was flat in early trade, while Japan’s Nikkei N225 dropped 0.1 percent. Investors in Asia were also awaiting manufacturing, retail sales and investment data out of China at 0200 GMT for a reading on the strength of the world’s secondlargest economy, after strong gains in import and producer price reports last week. On Monday, Goldman Sachs upgraded Chinese stocks to “overweight” on better growth prospects and a bullish view on the country’s banking sector. –CB Report

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B’desh customs plans to auction-off 85 nDp vehicles

T DHAKA

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he customs authority plans to auction-off 85 luxury cars that were forfeited at Chittagong Port as those did not pay taxes or were not re-exported, a senior customs ofUicial said.

These vehicles were imported with a duty-free privilege called Carnet de Passages, under two UN treaties that allow tourists to bring their vehicles to a country without

payment of customs duties, provided the vehicles are taken back by the foreign nationals.

The National Board of Revenue scrapped the duty-free import beneUit a couple of years ago, seeing that the privilege was being abused.

Many cars that were brought in with the beneUit were neither re-exported nor legalized by paying customs duties, according to NBR. The NBR also found that Bangladesh was not a signatory to the treaties under which the Carnet de Passages facility is given. “These cars have

been stuck at the port since 2013.

Importers did not release the vehicles by paying the duties and taxes.

As a result, these were forfeited,” said Moinul Khan, director general of the Customs Intelligence and Investigation Directorate. In August last year, Chittagong Customs House held a special auction for the cars, including Mercedes Benz and BMW. But it received bids for 59 cars and that too at very low quotations, according to the NBR. Many buyers were not interested to take part in the auction because

of the hassle in getting permits from the commerce ministry to take delivery of the cars from the port, they added. As a result, the auction prices were very low and no vehicle was released, according to NBR meeting minutes. Khan said the NBR plans to hold the next auction in the presence of a representative of the Anti-Corruption Commission.

He said the NBR chairman may also send a “demi-ofUicial” letter to the commerce secretary to issue clearance permits to the auction winners.

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FBR issues income tax notice to 14 doctors Tuesday March 21, 2017

Lahore

LAHORE: Federal Board of Revenue (FBR) has issued income tax notices to 14 doctors of Hameed Latif and Doctors Hospital doctors. Sources told Customs Today that Regional Tax Office-II of Federal Board of Revenue (FBR) issued income tax notices to the 14 doctors because all fourteen doctors not filed the income tax returns for the tax year 2014-15. FBR has sent notices under the section 114 (C) of the Income Tax Ordinance 2001. The tax notices were issued to the Dr. Hafeezur Reham, Dr. Saif Ullah, Dr. Fatima Khalid, Dr. Safwan Ahmed, Dr. Rabia Afzal Malik, Dr. Zain Mehmood, and Dr. Adnan Sami of Doctors Hospital. Similarly, FBR also issued income tax notices to the doctors of Hameed Latif Hospital namely Dr Kashif Sultan, Dr Mansoor Ur Rehman, Dr Zeeshan Munir, Dr Shadab Masood, Dr Najma Akhter, Dr Naseem and Dr Zarfishan Akhter.

customs to hold auction of smuggled vehicles on April 22

Dar asked to instruct fBR to release customs, ST rebate, refunds

LAHORE

LAHORE

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akistan Hosiery Manufacturers and Exporters Association (PHMA) Chairman Adil Butt has urged Finance Minister Ishaq Dar to issue instructions to the Federal Board of Revenue (FBR) for speedily releasing pending customs and sales tax rebate and refunds claims to save the export-oriented industries from complete ruin. He said made this demand while talking to reporters here the other day.

He urged the government to release the held up sales tax refund claims of the value-added textile industry, as huge amount of liquidity is blocked with the FBR, causing immense problems to the cash-

court adjourns hearing of case filed against smuggler he Special Federal Court of Customs Taxation and Anti-Smuggling adjourned the hearing of a case filed against Muhammad Sarwar who was arrested from Sialkot International Airport. Sources told Customs Today that Mohammad Sarwar, who was travelling from South Africa to Sialkotm was intercepted by the customs officials deputed at Sialkot airport. The customs team found 30 costly mobile phones from his luggage. The customs team asked the accused to produce legal documents regarding possession of mobile phones but he failed to show any legal documents. The team arrested the accused and presented him before customs court for physical remand but the customs judge denied the request of the customs investigation team for physical remand and sent him to jail for judicial trial. –CB Report

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starved exporters.

Adil Butt said that their major portion of working capital is stuck up with the FBR, as the textile exporters have not received their Drawback of Local Taxes and Levies (DLTL) either outstanding for the last many years.

Lauding the prime minister for announcing the long-awaited export package, he said that industry’s revival package would give boost to the country’s exports only if the issue of liquidity crunch is also resolved on emergency basis.

PHMA chairman said though the government issued sales tax Refund Payment Orders (RPOs) yet cheques were being delayed which was indeed most alarming and reUlected poor Uinancial management of the government. The textile industry would remain unviable in case the government fails to return local taxes and levies on exports, he said.

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ustoms Intelligence and Investigation (I&I) will hold auction of 20 non customs paid luxury cars worth millions of rupees on March 24, it was reported.

The luxury cars that would be put on for auction included the cars which were seized by the Customs Intelligence and Investigation by the Customs I&I car cell during various compaigns.

The vehicles would be auctioned on March 22 in the presence of Deputy Director of Customs Intelligence and Investigations I Ali Zeb Khan and others.

The vehicles that included Mercedes Benz, DGA 2003, Mercedes Benz LE 190 ICT 1997, Mercedes Benz, BoX 094 2004, Toyota Pre-

mio JK / 834 / ISD, 2004, Toyota Progress car DGA 27 1999, Honda Accord AG 2003 AGQ 064, Toyota Premio car ALK 932 KHI, BMW car, LEH 13 2317, Toyota Premio car, RU 222, 2002, BMW car, BEC 702

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Sindh 2003, Toyota Crown car, BDT 798 2004, Honda Accord AQH 282, 2002 and BMW car 7451 LMZ 86.

In addition to that 9 Mark X car of various models would also be put for auction.

customs seizes Rs54m non duty paid customs court hears 17 cases he Special Court of Customs charges against Humayon Rasheed vehicles from nov 2016 to feb 2017 Taxation and Anti-Smuggling also adjourned for next week.

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ustoms Intelligence and Investigation teams has seized over Rs 54.26 million non-customs paid foreign origin vehicles during four month i.e. from November to February 2016-17.

OfUicial data revealed that the Directorate of Customs Intelligence and Investigation seized Uifteen vehicles from various place in and around the city of Lahore including Allama Iqbal Town, Model Town, Defence, Ravi Road, Gulberg, Ferozepur Road and other places. As per details, the Cus-

toms Intelligence and Investigation seized over 15 cars during the period under review while the cars which were seized included used Honda Civic car, model 2005, used Mercedes 2005, used mark-X model 2012, used BMW model 2005, used Toyota Land Cruiser model 1992, Toyota Mark–X model 2006, non duty paid (NDP) Toyota Land model 2012, used Honda Accord car 2002, NDP used dumper truck 10 wheeler 1995-16, NDP used Toyota Premier car model 2010, used Toyota Hilux Surf. –M Hayat

heard 17 cases, including prearrest bail pleas filed by different suspects, on Monday.

According to the details, most of the cases were adjourned without any proceedings as the parties and lawyers concerned did not appear in the court. Hearing of pre-arrest bail pleas filed by accused Abdul Razaq and Salman were adjourned for new dates. A case against Shaukat Ali was also scheduled for hearing in which court recorded statements of the parties. Shaukat Ali is on bail nowadays. Framing of

Final arguments and statements of the concerned parties in a case of smuggling filed against Rafique Ali was also scheduled for hearing which is rescheduled for next week.

Meanwhile, The Special Court of Customs Taxation and Anti-Smuggling on Thursday heard 12 cases including pre-arrest bail pleas filed by suspects.

On the day, most of the cases were adjourned without any proceedings as parties and lawyers concerned did not appear in the court. –M Imran Mehar

pRA initiates BImS to bring beauty salons in tax net

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LAHORE

m ImRAn mEhAR

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unjab Revenue Authority (PRA) has now developed Beauty Parlours Invoice Monitoring System (BIMS) which has been done in collaboration with the Punjab Information Technology Board. A meeting in this regard was

held with Hair and Beauty Salon’s Association today at PRA main building, Lahore. Representatives of Hair and Beauty Salon’s Association were formally invited to get themselves updated on the recent developments. A number of leading members from Hair and Beauty Salon’s Association attended the meeting.

Recently, the PRA initiated a summary wherein a reduced rate

scheme for the beauty parlours has been approved by the government of Punjab. At present, registration in beauty services sector stands only at 287 registered tax payers yielding about 3 to 4 million a month. Previously, PRA conducted a workshop with beauticians and owners of such salons. Thereafter, Pakistan Hair and Beauty Salon’s Association Uiled a representation before the Punjab

Revenue Authority to sympathetically consider the beauty services sector’s plea for reducing the rate of sales tax on hair and beauty parlours to around 5 percent. After a series of meetings to Uigure out a workable option, it was also mutually resolved that the proposed reduction in the sales tax rate will be admissible for only those who opt for invoice monitoring system.

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Britcon to construct £2.1 million store at port WASHINGTON: SCUNTHORPE-based building and civil engineering firm Britcon has been awarded the contract to build a new £2.1 million bulk store for Associated British Ports (ABP).

The deal will see the company construct an 85-metre by 40-metre, steel-framed, reinforced concrete building to store dry bulk in four separate bays. Britcon will also install internal features such as LED lighting, SPV panels to the roof and external yard surfacing as part of the scheme at ABP’s port in King’s Lynn. Construction of the project is expected to finish in July.

maritime port accord are nice, but mostly ineffective without pricing authority undreds of agreements have been filed with the Federal Maritime Commission vessel sharing agreements; rate discussion agreements; joint service agreements; agreements between countries; marketing agreements; and marine terminal agreements, among others. So why did the East Coast Gateway Terminal Agreement, filed a little more than a week ago by port operators in Georgia and Virginia, get so much attention?

Maybe it was the unusual step those port operators took in issuing a joint statement to announce the pact. That move spurred articles in industry trade publications that used terms such as “innovative” and “first agreement of its kind in the United States” to describe the deal.

Turns out, it’s neither of those

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things. There are, in fact, nearly 150 similar pacts — called marine terminal agreements — listed in the commission’s online library, including a bistate deal signed in 2012 by the public ports authorities in South Carolina and Georgia. “There are a lot of agreements, all of them a little bit different,” said Jim Newsome, president and CEO of the State Ports Authority, which operates the Port of Charleston. “I don’t know that I see a whole lot of value in growing these types of agreements.” Many of the agreements aren’t all that effective. The SPA and the Georgia Ports Authority which operates the Port of Savannah used their pact more than three years ago to create a shared container chassis pool, but the agreement hasn’t yielded much fruit since then. –CB Report

Ports & hipping

major ports see 169% surge in iron ore handling in Apr-Jan WASHINGTON

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ron ore shipments handled by the country’s 12 major ports surged 169 percent to 38.61 million tonnes (MT) in the April-January period of this Uiscal. The government-owned ports had handled 14.37 MT of the key steel-making raw material in the corresponding period of the previous Uinancial year.

The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report said that “percentage variation from previous year” in iron ore handling was as high as “168.59 percent” in the Uirst ten months of the current Uiscal. Mining giant Vedanta had recently said the worst phase for the domestic iron ore industry is over and exuded conUidence that its Goa arm is prepared to sustain the export momentum amid softening global prices and subdued demand. A Fitch arm last month said the country’s iron ore output is pro-

jected to grow to 185 MT in the next four years. “We forecast India’s iron ore output to grow from 136 MT in 2017 to 185 MT in 2021,” said BMI Research, a unit of Fitch Group. Earlier, iron ore output had taken a nosedive with an average contraction of 9.4 percent y-o-y over 2012-2016 following mining bans in the three largest iron-ore producing states Goa, Odisha and Karnataka, which have since been lifted. According to the IPA, iron ore handling shot up to 11.18 MT at Mormugao Port during

the 10-month period from 2.29 MT a year-ago while Visakhapatnam Port handled 9.17 MT as against 4.39 MT. In Paradip Port, iron ore cargo increased to 8.51 MT as against 2.27 MT during the corresponding period a year-ago. India has 12 major ports — Kandla, Mumbai, JNPT, Marmugao, New Mangalore, Cochin, Chennai, Ennore, V O Chidambarnar, Visakhapatnam, Paradip and Kolkata (including Haldia) which handle approximately 61 percent of the country’s total cargo trafUic.

Tuesday March 21, 2017

four ships take berth at port Qasim our ships NYK Furano, MSC Joanna, Linus-P and Ghetty Bottigliery carrying containers, chemical and gas oil took berths at Qasim International Container Terminals, Engro Vopak Terminal and FOTCO Terminal respectively on Sunday.

Meanwhile, three more ships MSC Rachea, Al Hilal and Balcam with Containers and Furnace oil also arrived at outer anchorage of Port Qasim (PQ) during last 24 hours.

Berth occupancy was observed at the port at 40 percent on Sunday where a total of six ships were occupied PQA at berths to load/offload Containers, LPG, Palm oil, LNG and Furnace oil during last 24 hours. A cargo volume of 65,816 tonnes, comprising 44,973 tonnes import cargo and 20,843 tonnes export cargo inclusive of containerized cargo carried in 2,632 containers (TEUs) 1,097 imports TUEs & 1,535 TUEs exports) was handled at the port during last 24 hours. Two ships Hermes Container ship and Linus-P Chemical ships sailed out to sea on Sunday. –CB Report

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cuba’s mariel port seeks china push T

MARIEL

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hese days, giant Chinese-built cranes briskly unload shipping containers from cargo ships at Cuba’s deep-water port of Mariel, a Uledgling special economic zone the country hopes will drive development over the coming years. With 2015 bilateral trade surpassing $2 billion, China is Cuba’s second largest trading partner behind Venezuela. It is now playing a key role in helping the Caribbean island country to make Mariel live up to its promise. The Shanghai Zhenhua Heavy Industries Co, a global leader in port equipment, has provided the Mariel Container Terminal with four ship-to-shore gantry cranes, 12 rubber-tiered gantry cranes and two rail-mounted gantry cranes.

As business picks up at Mariel, the company will increase the number of

state-of-the-art cranes to 24 STS and 72 RTGs, increasing the unloading capacity from 800,000 containers to 3 million. As global trade grows, Cuba is betting on its strategically located port to become a hub for companies doing business with the Caribbean, Central America and other parts of Latin America. The deep-water port is part of Mariel, which also features a dutyfree zone and an industrial park with modern facilities and businessfriendly tax breaks. The Cuban government has pledged to guarantee an average investment of $300 million a year in Mariel, Oscar Perez-Oliva, Mariel’s business assessment director, told Xinhua in a recent interview.

The 702-meter-long and 14.3-meterdeep port can accommodate today’s super-sized cargo ships, which transit from Asia through the Panama Canal, and expects to become a major container loading and unloading center for other destinations in the region.

The cranes, as well as the technological support provided by Chinese telecommunications giant Huawei, make the Mariel Container Terminal one of the world’s most modern and efUicient container terminals. Each container is identiUied with a number, and is weighed and scanned with a state-of-the-art system to determine its contents, as part of a so-called “non-intrusive inspection” procedure done at most leading terminals around the globe.

While these Chinese companies have been key contributors to the construction of Cuba’s landmark project, other Chinese companies are also expected to enter Mariel, producing goods or providing services. “There are interested companies that we are working with on different projects and we hope this year we will see a Chinese company present in our zone as a user,” said Perez-Oliva. “Various delegations from our special eco-

nomic zone and other institutions have made promotional visits to China to meet representatives of different companies and jointly assess the possibility of establishing Chinese investment in the area as soon as possible.” Mariel ofUicials are working with the Chinese investors in “maturing” projects in the areas of biotechnology, pharmaceuticals and industrial production, according to the director. “Our analysis shows that even when a shipping line has a signiUicant stake in a terminal, this doesn’t necessarily mean that the port is selected for the network schedule,” said Neil Davidson, Drewry’s senior analyst for ports and terminals. “The picture is very varied. In some cases the correlation is tight, in others there is no obvious logic at all. For gateway ports, you can see that carriers have to bear in mind the port preferences of shippers, for example, so the choice of port is inUluenced by other factors.

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Customs Intelligence impounds NDP vehicle during road checking ISLAMABAD: Directorate General Customs Intelligence and Investigation (I&I) of the Federal Board of Revenue, Rawalpindi, has detained a nonduty paid smuggled Toyota Crown Royal car. According to the sources, the Rawalpindi Customs Intelligence intercepted a non-duty paid smuggled Toyota Crown Royal model 2006 bearing fake registration plate No QK– 80 (ICT Islamabad) having Chassis No. GRS 180 – 0008175 near Army Check Post, Choor Chowk, Rawalpindi from the possession of Masood Mohsin son of Khan Mirza, a resident of Jehangir Road Chaklala.

Tuesday, March 21, 2017

CUSTOMS BULLETIN

Sialkot customs foils bid to smuggle Indian cumin, foreign currency SIALKOT ZAfAR mALIk

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he Sialkot Customs ofUicials foiled a bid of supply of smuggled Indian cumin in local markets of this region and seized as many as ten tons of the Indian cumin from a dubious truck , during a special checking on different points of the GT Road here.

According to the senior Sialkot customs ofUicials , during this special checking on GT Road, the concerned ofUicials of the Sialkot Customs have seized a truck carrying as many as 10 tons of the smuggled Indian cumin (worth millions of rupees) from this dubious truck. The senior customs ofUicials said, the seized bulk of Indian cumin (weighing ten tons) was packed in 300 bags, which being smuggled to this Sialkot region’s local markets as well. The ofUicials added that the customs ofUicials also ofUloaded an accused passenger Muhammad Bilal (resident of Rahwali-Gujranwala Cantt) from a Ulight to Dubai from Sialkot international airport. The accused was off-loaded and arrested for illegally carrying the foreign currencies (USD12600 and UAE dirhams 12700), amounting Rs1.8 million, with him.

Dg Valuation revises customs value of men, women shoes KARACHI

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he Directorate General of Customs Valuation revised the customs value of men, women leather shoes through Valuation Ruling No 1078/2017 under Section 25A of the Customs Act, 1969.

According to details, the Customs values of men, women leather shoes were circulated vide

VDB letter No.142 dated 30.12.2016. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine Customs values of men, women leather shoes in line with current price trend in the international market.

Sources said that stakeholders’ meetings were scheduled on 27.02.2017 and 03-03-2017. The stakeholders were requested to submit invoices of imports during last three months showing factual value, 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 question and copies of Sales Tax Invoices issued during last three months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.

However no one appeared for the scheduled meetings nor any documents were received from any stakeholders which shows that the importers are disinter-

ested in proceedings and values are considerably higher than their declarations and by keeping themselves absent, they may have created an alibi for being unheard.

Meanwhile, The Directorate General of Customs Valuation revised the customs value of modem (WiFi) 3G, CDMA WiFi, dongle (4G) and HDMI cable through Valuation Ruling No 1074/2017 under Section 25A of the Customs Act, 1969. According to details, the Directorate General issued VDB value of HDMI cable vide VDB letter No. 18 dated 23-07-2016.

Meanwhile, the Directorate Gen-

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eral also initiated an exercise for determination of customs values of Modem (WiFi) 3G, CDMA WiFi dongle (4G) and HDMI cable.

Sources said that a meeting with stakeholders was held on 01-032017. Importers had been requested to furnish invoices of imports during last three months showing factual value, 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 month.