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Karachi, Fri March 31, 2017

ISLAMABAD

M FAIZAN

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he Federal Board of Revenue (FBR), on the advice of the Tax Reforms Commission (TRC), has activated Alternative Dispute Resolution (ADR) committees under the existing legal framework, in view of the fact that presently 27,000

appeals are pending before the Appellate Tribunal Inland Revenue (ATIR) and 5,000 cases before the Customs Tribunal.

It may be added that approximately 13,000 cases are pending before various high courts while revenue of around Rs 300 billion is stuck up in appeals. Realizing the enormity of huge stock of appeals and gigantic target for the last quarter of Riscal year 2016-2017, the

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FBR has notiRied panels of professionals including members of civil society having impeccable integrity have been included in the panel for dispute resolution.

Alternative Dispute Resolution Committees (ADRCs) will be formed within 60 days of the receipt of application from taxpayers. The ADRCs shall furnish its recommendation within 90 working days.

Multan Customs facing revenue collection loss due to pendency of cases

Govt committed to strengthen ties with Italy: Ishaq Dar

PM invites Bahraini investors to explore investment opportunities in Pakistan

Azmat takes charge as Addl Collector at Lahore Appraisement

DG Customs Valuation revises customs values of 80MG 2ML injections

The MCC is facing immense revenue collection loss due to pending of cases | See pAge 02 |

Dar has said that Pak is fully committed to furtherenhancingandstrengtheningrelations | See pAge 03 |

PM invited Bahraini investors to explore investment opportunities in Pakistan | See pAge 04 |

AzmatTahira,aPakistanCustomsServiceoďŹƒcer ofBS-19,hastakenchargeofAddlCollector | See pAge 10 |

TheDGofCustomsValuationhasrevisedthe customs values of Lincomycin injection | See pAge 16 |

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Vehari revenue official urged to collect outstanding dues Friday, March 31, 2017

VEHARI: The revenue officials of the district have been asked to collect the outstanding dues within stipulated period.

Charing a meeting held with the revenue officials, DCO Ali Akbar Bhatti ordered them to make all-out efforts to achieve the set targets of revenue collection. He also warned the officials not to show any slackness in this regard.

On the occasion, the DCO repeated the revenue targets, saying a target of Rs338 million was set for stamp duty while only Rs8.3 million has been collected so far. Similarly, target of Rs430 million was set for land revenue only Rs212 million has been collected so far.

National

Multan customs facing revenue collection loss due to pendency of cases

ISLAMABAD

MULTAN

tArIQ DerYA

IMrAN ALI

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he Customs Station Torkham collected Rs1516.21million Customs Duty (CD), With Holding Tax (WHT), Miscellaneous Surcharges (Misc), Redemption Duty on Imports (RDI) and Extra Development Surcharge (EDS-Pak) during the first eight months (July to February) FY16-17. According to Customs Station Torkham, it collected Rs37.31million CD, Rs0.29million Miscellaneous Taxes and Rs6.98million RDI and Rs6.98million EDS. During the month of January FY2016-17, the Torkham earned Rs106.43million CD, Rs29.25million Miscellaneous, Rs3.0million RDI and Rs7.24million EDS. During December, the Torkham received Rs123.02million CD, Rs3.90million Miscellaneous, Rs1.78million RDI and Rs4.38million EDS whereas during the month of November Torkham did Rs149.60million CD, Rs23.22million Miscellaneous Taxes, Rs1.91million RDI and Rs2.77million EDS. During the month of October, the Torkham collected Rs387.36million CD, Rs17.10million Miscellaneous Taxes, Rs0.93million RDI and Rs2.49million EDS. During the month of September, the Torkham got Rs319.78million CD, Rs0.15million Miscellaneous Taxes, Rs0.32million RDI and did Rs7.61million EDS.

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he Model Customs Collectorate is facing immense revenue collection loss due to pending of cases stuck up in various courts, including Supreme Court, Lahore High Court (LHC), Appellate Tribunal Inland Revenue, collectorate of Appeal and Adjudication. A well-placed source told Customs Today that about 216 cases involving revenue amount of worth Rs1583 million of Multan Customs Collectorate are facing pendency in various courts for their trial. These pending cases of Multan Customs Collectorate involved high and low proRiles seizures, and contraventions formed after detection of misdeclaration at the time of import clearances and tax evasion during examination.

These undecided seizure and tax evasion cases of Multan Customs are still under progress due to delay and slow proceedings of cases at different forums. Slow-moving proceedings and unnecessary delay in legal cases have also badly affected the revenue collection process of Multan Customs Collectorate to great extent and huge amount of revenue is blocked due to their court proceedings. Sources informed that Multan Customs have 8 various cases of worth Rs25 million pending in the Supreme Court of

torkham customs station generates rs1516.21m all taxes & surcharges

Pakistan for their Rinal decision from several months. Huge revenue collections involved in the pending cases of Lahore High Court are still under adjudication. There are 54 cases of around Rs826 million pending in the Lahore High Court for their Rinal decision. Around 71 various legal cases of Rs318 million are pending in the Appellate Tribunal Inland Revenue for their Rinal verdict. As many as 43 cases of

worth Rs378 million are facing pendency in their trial. Multan Customs is also facing pendency in the 40 different cases of worth almost Rs36 million in their prosecution.

Majority of these pending cases are still under process due to legal hindrance and unnecessary delay from respondents and few other factors are also involved in their delay for the settlement of these cases.

One of the major reasons behind

these pending cases is shortage of court staff to precede these cases because Judges and Adjudicating OfRicers are insufRicient to precede these huge numbers of cases.

Sources told Customs Today that Multan Customs will form special committee under the supervision of deputy collector which will make sure the conclusion of these pending cases as early as possible for the generation of handsome revenue.

Addidas launches women empowerment programme A

SIALKOT

ZAFAr MALIk

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Germany based worldwide sports goods company namely “Addidas Group” has launched the Rirst phase of its Women Empowerment Programme in Sialkot’s sports goods industry.

During this prestigious launching ceremony, the senior ofRicials of the Adidas Group-Germany announced their its full technical Rinancial sup-

port for the betterment of the workers of Sialkot’s sports goods industry without any indiscrimination. Addressing the participants, Ms. Sari Nasution (Regional Manager Social and Environmental Affairs Adidas Group-Germany) said that his company strictly believes in the principles of non-discrimination and requires its business partners to evolve as open opportunity employers. Adidas Group-Germany is fully aware of the fact that because of shift in the soccer manufacturing tech-

nology, thousands of women workers who used to stitch soccer balls with their hands while remaining at homes have become jobless, she said. Cognizance of the negative repercussions of this process on the lives of the poor women has led Addidas Group to develop a replicable and up scalable model of linking these jobless women with livelihood options in the local job market. A leading exporter Hassan Saleem Awan, while addressing the participants, said that gone are the days

when women workers were not a welcome option in the Sialkot industry. The industry is now resilient to have more and more women workers and provide them with the maximum possible opportunities to work in harassment free and gender responsive atmosphere. He urged women workers to raise loud and clear voice to secure, protect and promote their rights. If we want our country to develop and make progress in the global economy characterized by an insatiable appetite

for survival of the most competitive ones, then our women must step forward to become equal partners in this struggle, he added. Outlining the objectives of the “Women Empowerment Programme” Arshad Mehmood Mirza (Executive Director NGO Baidarie-Sialkot) said that the programme aims at strengthening of women/girls workers by providing to them the appropriate knowledge and skills, as well as organizing them for identifying and tapping into economic growth opportunities.

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Rs28m being spent to evaluate metallic minerals in Balochistan ISLAMABAD: The government has launched an ambitious plan for extensive evaluation of metallic minerals’ potential existing in Bela and Uthal areas of district Lasbeela, Balochistan.“Funds amounting to Rs 28.700 million are being utilized in exploration and evaluation of metallic and minerals in the selected areas of Balochistan province,” official sources in the Ministry of Petroleum and Natural Resources.

Answering a question, they said the ministry was consistently offering investment opportunities in the mineral sector and extending maximum incentives to local as well as foreign investors.

Friday March 31, 2017

National

Dg Valuation revises customs value of cameras

govt committed to strengthen ties with Italy: Ishaq Dar

KARACHI

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he Directorate General of Customs Valuation revised the customs value of cameras through Valuation Ruling No 1096/2017 under Section 25A of the Customs Act, 1969. According to details, the Directorate General issued VDB values of different brands of cameras vide VDB letter No. 172 dated 2601-2017. Meanwhile, the Directorate General also initiated an exercise for determination of customs values of cameras of different brands. Sources said that a meeting with stakeholders was held on 01-03-2017. Importers were requested to furnish invoices of imports during last three months.

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trIc for modifying ADr system ISLAMABAD

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n a bid to decrease litigation of Rs 300 billion stuck up in appeals, Tax Reform Implementation Committee (TRIC) has decided to modify the system of Alternative Dispute Resolution (ADR) committees in next budget. The Federal Board of Revenue has chalked out a robust strategy for the revival of the ADR system in coming budget (2016-17). It has been suggested that an ADR committee be constituted within 30 days of receipt of application by taxpayer and recommendations be furnished by the committee within 60 days. In the previous meeting of the TRIC, a subcommittee was constituted which was tasked with submitting proposals with regard to constitution of ADR committees in the existing legal framework.

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ISLAMABAD

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inance Minister Senator Ishaq Dar has said that Pakistan is fully committed to further enhancing and strengthening relations with Italy in existing and new areas including defence, economic cooperation, trade and investment.

He made these remarks during a meeting with visiting Italian Deputy Minister for Foreign Affairs and International Cooperation Benedetto Della Vedova. Dar welcomed the Italian deputy minister and members of the accompanying delegation. He highlighted the historic and long-standing friendly ties between Pakistan and Italy. He acknowledged the volume of bilateral trade between the two nations but emphasized that trade potential is much bigger than the current level. He appreciated the cooperation and support of the Italian government for various development projects in Pakistan.

The Italian deputy minister recalled Italian Foreign Minister Paolo Gentiloni’s visit to Pakistan last year, as well as the visits by the Italian Minister for Defence, and the Italian Deputy Minister for Economic Development along with a delegation of Italian businesspersons. He said that the recent increase in highlevel interaction between the two countries bodes well for relations

between the two nations.

He said that bilateral trade Rigures are improving but there is a huge untapped potential for further increase in bilateral trade. He emphasized that Italy and the EU are fully committed to keeping international markets open for trade at the highest level. He said that the Italian Ambassador to Pakistan Stefano Pontecorvo is making active efforts to promote foreign direct investment by Italian companies in Pakistan in various areas in-

Dar welcomed the Italian deputy minister and members of the accompanying delegation. he highlighted the historic and longstanding friendly ties between pakistan and Italy

NAB arrests man involved in embezzlement

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PESHAWAR

cuStoMS BuLLetIN report

www.customsbulletin.com he National Accountability Bureau (NAB) arrested accused Fazal Hadi, an ofRicial of C&W Department, Upper Dir, on Wednesday who was allegedly involved in accumulation of illegal assets worth Rs52.7million.

The matter was brought into the notice of the NAB Khyber Pakhtunkhwa authorities through several sources.

Taking cognizance of the matter, an inquiry was authorized to ascertain the real facts and collect required evidences regarding the movable and immovable properties owned by the accused in his name.

During the course of Inquiry, it revealed that accused Fazal Hadi belongs to a middle class family of Mingora of Swat.

The accused piled assets worth millions of rupees in his name and the assets were disproportionate to his known sources of income fol-

lows as 01 * House at Rung Mohallah, Mingora Swat. 01* Plot measuring 1500 sq. ft at Rung Mohallah, Mongora Swat. 04* Houses at Landi Kas near Khwar Masjid, Mingora Swat. 01* 3 story building at Rung Muhallah near Dispensary.

Purchased house measuring 1818 sq. ft at Landi Kas, Mingora Swat. 5 Marla, Zone-1, Regi Model Town Peshawar. Purchased land measuring 6468 sq. ft at Mohallah Mera, Swat. 01* Plot at Rahimabad, Mingora Swat.

cluding energy, infrastructure and machinery. Dar shared with the Italian deputy minister that after having achieved macroeconomic stability in Pakistan, the government is now focused on attaining higher, sustainable and inclusive economic growth. He said that during the tenure of the present government, despite curtailing Riscal deRicit by more than half, development spending has been more than doubled and spending on social sector has been nearly tripled.

Bahrain delegation arrives on two-day visit ommerce Minister of Bahrain Zayed R. Alzayani arrived here to attend Pakistan-Bahrain Business Conference.

During the two-day visit to Pakistan, the Commerce Minister of Bahrain besides attending the conference will also call on Prime Minister Muhammad Nawaz Sharif, said Ambassador of Pakistan to Bahrain Javed Malik in a statement here.

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KP Economic Cooperation Road Show to be held in China BEIJING: A three-day “KP Economic Cooperation Road Show” to offer investment opportunities and economic collaboration to the Chinese state-owned as well as private enterprises in more than 100 projects in Khyber-Pakhtunkhwa (KP) province would commence here from April 16.A delegation of KP Government, headed by its Chief Minister, Parvez Khattak will host the road show.

Various ministers, secretaries of the Government of KP, and senior officials including the chairmen of government-owned entities in addition to some private entrepreneurs would be part of the delegation, official sources said here on Wednesday.

Friday March 31, 2017

Business

pM invites investors to explore opportunities ISLAMABAD

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rime Minister Muhammad Nawaz Sharif invited Bahraini investors to explore investment opportunities in Pakistan, particularly in commercial and tourism sectors.He was talking to a delegation led by Minister for Industries, Commerce and Tourism, Zayed R. Alzayani of Bahrain here at the PM OfRice. Prime Minister Sharif said cooperation between the two countries in economic Rields would further strengthen brotherly ties between the two countries.

The Bahraini delegation comprised Shaikh Hamad bin Salman Al

NhA okays Jaglot-Skardu road projects ISLAMABAD

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Khalifa, Bader Fareed Abdul Rahman Isa Alsaad, Sayed Heshan Alawai Hamza Salman Alsaken and other senior ofRicials from Bahrain.Prime Minister Sharif said that Pakistan considered Kingdom of Bahrain a close friend and trusted

Secp approves recommendations of committee on review of financing

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he Executive Board of the National Highway Authority (NHA) has approved the project for widening and up-gradation of Jaglot-Skardu strategic Road. The decision was taken during a meeting held at NHA head office on with Chairman Shahid Ashraf Tarar in the chair.

The meeting was informed that 164km road will be completed at a cost of Rs31 billion in duration of three years. The existing route that is not in good condition will be improved and widened along with smoothening of the sharp.

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partner. “Our bilateral relations are founded on shared history, cultural linkages and strong people-topeople contacts,” the Prime Minister said according to a statement released by the PM House.The Prime Minister appreciated the active par-

ticipation of Bahraini delegation in the Second Pakistan-Bahrain Business Opportunities Conference.

He also urged the Bahraini delegation to explore investment opportunities in various sectors of Pakistan. The Prime Minister said the Pakistani diaspora in Bahrain was serving as a human bridge between the two brotherly countries and had been playing an important role in the development and prosperity of both Pakistan and Bahrain.

The Prime Minister expressed his good wishes for King Hamad bin Isa Al Khalifa. The Bahraini Minister of Commerce conveyed the greetings of King Hamad Bin Isa Al Khalifa to the Prime Minister and said he was in Pakistan with a special mandate to expand the scope of economic ties between both the counties.

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ISLAMABAD

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he Securities and Exchange Commission of Pakistan (SECP) had constituted a committee comprising of senior market professionals and stakeholders.

It was mandated to review the matter of in-house Rinancing, identiRication of any issues, inefRiciencies or hurdles in the existing leverage products like margin Rinancing and margin trading and provide recommendations for practical and vi-

able solutions in light of best international practices to meet the needs of market participants in relation to Rinancing through brokers, said a statement issued here on Tuesday by the commission.

The committee had submitted its report to the SECP, which primarily focused that reforms be introduced in the margin Rinancing system (MFS) so that banks can provide funding to investors through brokers. The key recommendations of the committee was to remove the requirement to collect 10 per cent Rinancing participation ratio (FPR)

in the form of cash and to allow deposit entire FPR in the form of securities as is being done by banks.

Allow pledging of margin Rinanced securities in favor of bank through a tripartite agreement between bank, broker and client. For risk management mark-to-market (MTM) losses in case of decline in the price of Rinanced securities shall be collected in cash from the client (Rinance). In case of increase in the price of Rinanced securities’ margins and Marked-to-Market (MTM) losses shall be collected from proprietary account of broker.

punjab governor to inaugurate hVAc&r expo LAHORE

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he 24th Heating, Ventilation, Air-Conditioning and Refrigeration Expo & Conference (HVAC&R) 2017 is going to be held in the provincial metropolis from March 30, 2017 to April 01, 2017 bringing all the stakeholders on one platform showcasing the latest equipment development and technological advancements in the field. Punjab Governor Malik Rafique Rajwana will inaugurate this three-day event of the HVAC&R stakeholders. The Pakistan HVACR 24th Expo & Conference 2017 is a national meeting place for professionals, attracting serious buyers from all over Pakistan and countries abroad. The event provides an easy and essential route into the market for exhibitors, enabling professionals from across the industry to develop their business in a professional environment. Exhibition’s Convener Media Mustafa Khalid in a statement issued here Tuesday said, “Importance of this exhibition can be gauged from the number of seasoned experts and consultants participating in this mega event of the industry from where new entrants can learn a lot about new advancements.”

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ppc interacts with business community in London ISLAMABAD

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delegation of the Pakistan Peace Collective (PPC), visited the UK last week and held an interaction with the Pakistani business community at the Pakistan High Commission London on March 24. The event was jointly organized by the High Commission, World Congress of Overseas Pakistanis

(WCOP) and the PPC, and was attended by about 50 leading business people from the Pakistani community, a message received here from London on Tuesday said.

The PPC is a counterterrorism research and communication project of the Ministry of Information, Broadcasting and National Heritage, In his welcome remarks, Syed Ibne Abbas, Pakistan High Commissioner to the UK appreciated the good work of the PPC and termed it a

timely initiative of the government of Pakistan. He also appreciated the collaboration between PPC and WCOP for the national cause.

In her address on the occasion, Ms Bushra Taskeen, CEO of PPC briefed the audience about their UK visit saying that the main aim was to raise awareness among Pakistan diaspora on safer charity practices so that their donations achieve the intended results instead of ending up in the hands of the dubious or-

ganizations.

Deliberating on the activities of the PPC, Ms Taskeen said that the project works to increase public support and bolster resilience against violent extremism in Pakistan. The attendees were also shown some video products developed by the PPC as part of their communication strategy. Mian Shabbir Anwer, Chief Operating OfRicer of the project emphasized on the need of cooperation from the

community to spread the message on safer charity practices and counter terrorism narratives amongst the masses. He said community has responsibility to guard themselves and their country against extremist and terrorist ideologies. An MoU for future collaboration and cooperation between the PPC and the WCOP was also signed on this occasion. Syed Qamar Raza from WCOP and Ms Bushra Taskeen from PPC signed the document.

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Friday, March 31, 2017

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ISLAMABAD

M FAIZAN

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ember Operations Inland Revenue Rehmat Ullah Khan Wazir has said that though 22 percent growth in withholding tax is very good, there is still need to take measures to improve revenue collections.

“I have directed all the withholding commissioners to raise the ratio up to 30 percent till the end of June, move forward and do more work,” he said.

During an exclusive interview with Customs Today Rehmatullah Khan Wazir said, “We have the potential but there is a need to utilize it.” He said that the Pakistani people should realize that taxpaying was a national obligation as funds are required to launch health, education and development projects.

“Paying taxes means you are securing the future of this nation, supporting social services and helping to present a balanced annual budget,” he said, adding that the Federal Board of Rev-

enue has approved his idea regarding the digital directory of withholding taxes. “Now the FBR and chief executive of the Pakistan Revenue Automation Limited (PRAL) have agreed to make a digital directory of withholding taxpayers and the data is already available with the PRAL. The directory will consist of the whole data of withholding taxes, he said, adding that there are 60 provisions in withholding tax and all the data related to these provisions will be included in the directory. The list of the names of withholding agents will also be included, he said. The directory will show whether the withholding agents are filing their statement or not, how much withholding tax has been re-

ceived in a week, month or year. He said that this will help check audit work, authenticity of the tax statements and other related issues.

He said: “We are working on a proposal to introduce an expeditious tax refund system. This system will speed up the process of making repayments and reduces errors and will also help reduce tax refund fraud.” He added that it was not fair that some businessmen take beneRit from the tax system, while others pay most of the taxes. He said in coming budget under a new system those business owners who have not been paying a fair amount of taxes would have to pay more tax. This mean they will earn less while the business owners who will be earning less may be upset. It is important to note that they have been enjoying exclusive beneRits for a long time. After introducing the new provisions, the system will be more balanced and fairer for all. It is national duty of every taxpayer to pay the required tax on time and Rile the tax return accurately and honestly, he concluded.

some r that i a f t as no e tax om th at it w r h f t t d fi e d bene the he ad ost of n take e m y m s a s p a e s busin under other t e e l i g h d ,w ho ing bu system ners w in com w d i o a s s es . he t of busin taxes moun hose a t r i m a e f ys t ing a new s re t a x n pay e e b ay mo t p o n o t e hav have would s e x a 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

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prospects of $100b chinese investment

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ccording to newspaper reports, a visiting Chinese business tycoon has expressed the hope that China will invest up to $100 billion in Pakistan after the completion of the ChinaPakistan Economic Corridor and its related projects. Wang Zihai, the president of PakistanChina Joint Chamber of Commerce and Industry, has also said that CPEC will link Asia with Europe and will promote trade and business activities in the region. It is heartening to note that hundreds of small, medium and large scale Chinese companies are already working in Pakistan and more Chinese businessmen are interested in investing in various industries, including electronics, automotive, education exchange programmes, insurance, agriculture, textiles, shoe manufacturing, chemicals, battery recycling plant and real estate.At least $46 billion investment deal between Pakistan and China is the first steps towards a closer economic cooperation and it is hoped that business to business cooperation would push the investment to $100 billion mark in the coming years.The two countries have already signed a Free Trade Agreement but due to lack of awareness, the Pakistani business community could not fully utilized it. Despite being neighbours, there is a long distance between the two countries as far as major cities are concerned along with cultural and language barriers. However, the two nations are committed to go along together in business, trade and investment activities. Pakistan is one of the leading cotton producing country in the world and despite losing one third of its production, it still produces over 10 million bales annually and both Pakistani and Chinese entrepreneurs can utilize the commodity to dominate the world garments and textile markets. China has already offered up to five percent tariff concession on the Pakistani products. However, smuggling and underinvoicing is the biggest challenge to improve balance of trade.China has signed a $24 billion deal with Bangladesh to encourage Chinese private sector investment in that country.

Reports suggest China is heading towards heavy industry and is shifting its small production units to Bangladesh. Pakistan should also persuade the Chinese government to establish its small industry along the corridor which will further boost economic relations between the two countries.

textile sector woes P

LAHORE

Dr AFtAB AFZAL

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akistan’s textile sector has been facing multiple issues for the last many years and it has adversely affected the export volume of the country to the unreasonable level. The prime minister has recently announced a textile package for this sector, considering it as the backbone of the economy, but no visible change has so far been marked. The textile industry contributes around 60 percent to the total exports of the country, but the exports have declined by 20 percent during the last four years. Experts believe the dwindling cotton production

is the root-cause of the problem.

The annual cotton production of the country has dropped from 15 million bales to 10 million bales which has raised the cost of production. The law and order situation is the second reason which has tarnished the image of the country in the eyes of the international community.

The recent spate of suicide bombing has added insult injury while miscreants are continue to attack Pakistani check-posts from Afghanistan. A country in the war will not be able to convince the world that everything is right in this part of the world.

As a matter of fact, energy crisis is another reason for the declining exports as the manufacturers have failed to comply with

the business orders from around the world. However, the industrialists blame the government for devising ill-conceived policies which have raised the cost of production in the country. It is a point to ponder for the policymakers how a country like Bangladesh has made itself a powerhouse of finished garment products and has become the second biggest garment exporter after China. Though Bangladesh has exploited its status as the ‘lowest developed country’ in the world and enjoys access to the developed markets such as the European Union and the Unites States, Pakistan also enjoys GSP status of the European Union.

Pakistan is one of the leading cotton producing country in the

world after China, India and the United States, but it should be a matter of concern for the policymakers who have failed to improve cotton exports as compared to Bangladesh. Some of the entrepreneurs blame strong Pakistani rupee as a reason behind the fall in the exports, but the government has so far resisted all the efforts from certain quarters and has maintained the value at certain level.

The strong currency is the guarantee of strong economy and the government has befittingly ward off all the efforts towards devaluation of the Pakistani rupee. It is hoped that reasons and commons sense will prevail and the government will be able to revive the export sector.

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Auto assemblers want new tax on car transfers to curb premium KARACHI: The Pakistan Automobile Assemblers Dealers Association (PAMADA) has suggested that the additional registration tax on transfer of a new car within three months of purchase would help curb the menace of premiums. “Early delivery demands by customers encourage investors to exploit customers by offering vehicles on premium payments. If customers book their vehicles and secure delivery as per the schedule offered by companies, no premium will exist,” said Iqbal Shah, chairman of PAMADA. He said that vehicles were not commodity items, which could be made and shelved. “They are manufactured against individual orders of the customers and the industry has taken various steps towards discouraging premiums such as refusing multiple bookings of vehicles on a single CNIC, displaying vehicle availability information at the dealership floors and on the company website.

hccI demands representation of business community in SIte HYDERABAD

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he Vice President Hyderabad Chamber of Commerce and Industry (HCCI) has demanded the high ups of Sindh Government to give due representation to business community of Hyderabad, Kotri and Tando Adam in Sindh Industrial Trading Estate (SITE) for development of industrial sector. In a statement, he regretted that the management of SITE has adopted step motherly attitude with the business community of Hyderabad, Kotri and Tando Adam despite the fact that the community of these

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cities are contributing sizeable share in respect of revenue generation. He said that because of non-availability of filter plant and water treatment plant, the industries of Hyderabad SITE are at the verge of destruction while the other hand, the industrialists are being harassed by sealing the industrial units by EPA on charge of violation of environmental laws. The closure of industrial units in Hyderabad SITE is also causing unemployment, he added.

He said that Sindh Government had approved an area of 300 acres of land for establishment of Hyderabad SITE PhaseII for industrial development in the province, but no development work has so far been carried out in the allotted area nor the allotment orders have been granted to industrialists who booked plots in the area for construction of their industries. He demanded the high ups of the provincial government including Governor Sindh Muhammad Zubair, Sindh Chief Minister Syed Murad Ali Shah and Sindh Minister for Industries Manzoor Wassan to prepare a comprehensive strategy for uplift of industrial estates in remote cities.

Friday March 31, 2017

Chambers

chinese cos show interest in energy, transport, real estate in pakistan T

ISLAMABAD

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he Chinese investors considered Pakistan a potential country for business and have come here to explore opportunities for JVs and investment. This was said by Yin Lin Bing, Secretary General, Worldwide Business Culture Exchange Centre while addressing business community at Islamabad Chamber of Commerce and Industry. He visited ICCI leading a 29 member delegation of Chinese companies representing various provinces of China visited Islamabad Chamber of Commerce and Industry. Mr. Wang Zihai, President, Pak-China Joint Chamber of Commerce and Industry also accompanied the delegation. The delegation was representing various sectors including power generation, manufacturers of transformers and electrical equipment, hydropower construction, transport, automobile, textile & clothing, food processing, mechanical & electrical trade, construction & real estate development, ship management services, mining machinery, pharmaceuticals, serv-

ice industry and others.

Speaking at the occasion, Yin Lin Bing, Secretary General, Worldwide Business Culture Exchange Centre (WBCEC) of China said that in pursuit of Chinese President’s One Belt One Road strategy, WBCEC was taking Chinese business delegations to various countries. He said so far WBCEC has taken Chinese delegations to 29 countries and signed contracts and MoUs of more than US$ 50 billion. He said Chinese investors considered Pakistan a potential country for business and

have come here to explore opportunities for JVs and investment. He said both countries have good potential to cooperate in pharmaceuticals, transport, industrial parks and many other areas. He hoped that their visit would contribute to further strengthen cooperation between Pakistan and China. He stressed that ICCI should also take its delegation to China to explore new areas of mutual cooperation.

In his welcome address, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry

welcomed the delegation and said that CPEC project has created a good platform to put private sectors of both countries on a long-term partnership. He said that Pakistani entrepreneurs were keen to enter into joint ventures with Chinese counterparts in this historic project. He said China was importing raw material and goods worth billions of dollars every year to meet needs of its domestic industry and urged that China should focus on imports from Pakistan that would also improve our trade balance with it.

Afghan high economic council plans chamber of commerce for women

govt asked to cut sales tax to single digit

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ultan Chamber of Commerce & Industry (MCCI) has asked the government to slash the sales tax down to single digit to take burden off the consumers. The MCCI president, in a statement, said that there should be low rate of sales tax, as our economy has strengthened enough to introduce single digit sales tax rate. He said that issue of low rate of sales tax must be discussed in the meeting on budget proposals (2017-18) between Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and representatives of business community of tribal areas and small traders. The president said that multiple layers of taxes are applicable on business community including federal, provincial and local taxes. –CB Report

KABUL

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he high economic council has announced that a women’s chamber of commerce and industries will be established in the near future to help the businesswomen expand their economic activities. Businesswomen have warmly welcomed the initiative, saying the government needs to take more actions to economically empower Afghan women.

The lack of an appropriate strategy for capacity-building among the businesswomen and insufRicient support for businesswomen are two main factors which have persuaded the high economic council to establishment a women’s chamber of

commerce and industries. Businesswomen have stressed the need for more government support to strengthen women investments in the country. “The government must work hard to expand the economic empowerment of women and support them for our domestic produc-

tion to grow,” said an Afghan businesswoman, Maryam YousuRi. Afghanistan Chamber of Commerce and Industries (ACCI) has said that the government needs to do more to Rind solutions to the ongoing difRiculties facing businesswomen in the Rinancial sectors.

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Aijaz Ahmad assumes charge as Commissioner-IR in Sukkur Friday March 31, 2017

National Farukh assumes charge as Addl collector at Lahore (preventive) ISLAMABAD

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ISLAMABAD: Aijaz Ahmad Khan Yousafzai, a BS-19 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR. The officer, in pursuance of Board’s Notification No. 0784-IR-I/2017, dated 08.03.2017, assumed the charge of the post of Commissioner-IR (OPS) (Larkana Zone), Regional Tax Office, Sukkur with effect from March 21. Meanwhile, Amer Rashid, a Pakistan Customs Service officer of BS-19, has relinquished the charge of the post of Additional Collector. The officer, pursuing the Board’s Notification No.0906-C-II/2017 dated 16.03.2017, relinquished the charge of the post of Additional Collector, Model Customs Collectorate (Preventive), Lahore with effect from March 22.

Azmat takes charge as Addl collector at Lahore Appraisement A

ISLAMABAD

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uhammad Farukh Sharif, a Pakistan Customs Service officer of BS-19, assumed charge of the post of Additional Collector.

Farukh, pursing the Board’s Notification No.0905-C-II dated 16.03.2017, relinquished the charge of the post of Additional Collector, Model Customs Collectorate (Appraisement-West), Karachi with effect from March 17 and took charge as Additional Collector at Model Customs Collectorate (Preventive), Lahore on March 22. Meanwhile, Dr Akhtar Hussain, a Pakistan Customs Service officer of BS-19, has assumed charge of the post of Additional Director, Directorate of Internal Audit (Customs), Lahore. The officer, in pursuance of Board’s Notification No.0715-C-I/2017 dated 03.03.2017, relinquished the charge of the post of Collector (OPS), Collectorate of Customs (Adjudication), Islamabad with effect from March 16.

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customs Inspector Sharif watto reinstated he major penalty of “dismissal from Service” imposed upon Muhammad Sharif Watto, Inspector posted at Model Customs Collectorate Appraisement, Lahore, has been modified and converted into the major penalty of “reduction to a lower stage in time scale for three years without cumulative effect”. The decision was taken in pursuance of Federal Service Tribunal, Lahore Bench Judgment dated 03.02.2016 passed in Appeal No.167(L)CS/2015. The officer has been reinstated into service conditionally/provisionally with immediate effect subject to the final outcome/decision of the CPLA filed by the FBR in the Supreme Court of Pakistan against the FST judgment. –CB Report

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zmat Tahira, a Pakistan Customs Service ofRicer of BS-19, has taken charge of the post of Additional Collector.

Azmat, in pursuance of Board’s NotiRication No.0905-C-II/2017 dated 16.03.2017, relinquished the charge of the post of Additional Director, Directorate of Intelligence & Investigation-FBR, Regional OfRice, Faisalabad with effect from March 18 and assumed charge as Additional Collector at Model Customs Collectorate (Appraisement), Lahore on March 20. The ofRicers was recently transferred from the post of Additional Director of Directorate of Intelligence & Investigation in Faisalabad and posted as Additional Collector, Model Customs Collectorate of Appraisement, Lahore.

Multan AFu handles 2025 export consignments M MULTAN

IMrAN ALI

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ultan Customs Air Freight Unit (AFU) has handled 2025 various export consignments of worth Rs1260.594 million from July 2016 to February 2017 of the current Riscal year 2016-17. According to details, Multan Customs has advanced its exports from Air Freight Unit of Multan International Airport by facilitating exporters of the South Punjab due to few initiatives. The Air Freight Unit of Multan Customs is playing dynamic role in the clearance of export batches after the establishment of state of the art Multan International Airport.

Multan Customs has focused on local exporters of South Punjab for promotion of their export through Air Freight Unit. Swift clearance of export consignments from Multan Custom through Freight Unit has enhanced export clearances to various parts of the world. Export clearance from Multan Customs suddenly dropped in the previous

Riscal year due to multiple factors.

The Customs Collectorate Multan AFU has cleared 242 various exports GDs of worth Rs182.849 million during the month of February. While Air Freight Unit of Multan Customs handled only 77

consignments of worth Rs.81.392 million in the matching month of Riscal year 2015-16. The export value has been increased with passage of time from Air Freight Unit of Multan Customs due to effective strategies adopted to boost ex-

port of the South Punjab. The Model of Customs Collectorate Multan AFU has cleared only 243 various export consignment of worth Rs.259.977 million during July to February of the previous Riscal year 2015-16.

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Hyderabad FIU seizes 9500 kg cloths valued Rs04.7 million HYDERABAD: The Customs’ Filed Investigation Unit Hyderabad has confiscated non-duty paid 09500 kg of polyester’s ladies’ suiting cloths worth Rs4.7million involving duty and taxes of Rs2.6million. The offending vehicle was going from Peshawar to Karachi when the operation was carried out on Super Highway in Hyderabad.

Official source told Customs Today that illegally imported goods were seized following a tip-off received through Director Customs Karachi Tahir Qureshi.

Prior to the seizure, the official asked the driver to show documents regarding the legal import and lawful possession of the recovered item but he could not produce the same. So the official confiscated the item.

customs Adjudication summons respondents in smuggling case LAHORE

M IMrAN MehAr

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ollectorate of Customs Adjudication Customs House, Nabha Road, Lahore has summoned party in illegally imported car Mark X seizure.

It has been reported by the Assistant Director, Directorate of Intelligence & Investigation-FBR, Range Office in pursuance of information, the staff of Directorate of Intelligence & InvestigationFBR intercepted one Toyota Mark-X near Regional Tax office, G.T. Road, Gujranwala on information of smuggled/tampered one. On demand, the occupants could not produce any documentary evidence regarding legal import or lawful

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possession in respect of the recovered vehicle. Therefore, the said vehicle was detained. It was reported, during the course of investigations, Directorate of Intelligence & Investigation-FBR, Range Office, Gujranwala requested the Excise and Taxation Officer, Motor Registration Authority, Islamabad to supply the documents of the vehicle on the basis of which the same was registered against number ACE.166-ICT. The reply from the Excise and Taxation Officer, Motor Registration Authority, Islamabad is still awaited. The respondents in the case are asked to submit written reply to the show cause notice. Meanwhile, The Special Federal Court of Customs Taxation and Anti-Smuggling has adjourned the hearing of an accused arrested on the charge of Sales Tax evasion. Accused Wamiq Zaka was arrested by the Federal Board of Revenue, Inland Revenue, for a huge Sales Tax evasion. Sources told Customs Today that the accused was arrested after intelligence information that he is evading Sales Tax in millions of rupees.

National

ANF apprehends seven drug peddlers in eight March’s operations

Major penalty of customs Inspector Shahid modified ISLAMABAD

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he major penalty of “dismissal from Service” imposed upon Shahid-ulHassan, Inspector posted at Model Customs Collectorate Preventive, Lahore, has been modified and converted into the major penalty of “reduction to a lower stage in time scale for three years without cumulative effect”. The decision was taken in pursuance of Federal Service Tribunal, Lahore Bench Judgment dated 03.02.2016 passed in Appeal No.167(L)CS/2015. The officer has been reinstated into service conditionally/provisionally with immediate effect subject to the final outcome/decision of the CPLA filed by the FBR in the Supreme Court of Pakistan against the FST judgment. Meanwhile, The services of Amer Rashid, a Pakistan Customs Service officer of BS-19, presently posted as Additional Collector, Model Customs Collectorate (Preventive), Lahore, have been placed at the disposal of Strategic Control Division, Ministry of Foreign Affairs, Islamabad for a period three years, on standard terms and conditions of deputation, with immediate effect.

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IrFAN BAhADur

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he Anti-Narcotics Force Peshawar arrested seven suspects on the charge of drug trafRicking during eight operations in the Rirst half of March.

The sources told Customs Today on Thursday that the ANF intercepted a Suzuki Mehran car near Tarnab Forms, GT Road, Peshawar, and recovered 3.6 kg hashish worth $2000. A person on board named Saim Khan, a resident of Peshawar, was arrested on the spot.

The sources told Customs Today that the ANF carried out operation and arrested two drug peddlers identiRied as Abdullah and Hameed Khan, both residents of Peshawar, and recovered 200 gram heroin from them. Yet in another operation, ANF Peshawar recovered 210 gram hashish worth $210 from an accused named Irfan Ullah, a resident of Kohat, who was arrested. He was riding a bike. He was involved in distribution of drugs in educational institutions at Kohat.

In fourth operation, ANF Peshawar arrested a local drug peddler named Dilawar Khan, a resi-

Friday March 31, 2017

dent of Kohat, and recovered 1.1 kg hashish worth $750 from his possession. In Rifth operation, ANF Peshawar recovered 500 gram hashish from two street drug peddlers named Shakeel and Muhammad Usman, residents of Peshawar, who were apprehended near Railway Gate, Peshawar.

In sixth operation, ANF Peshawar recovered 60 gram heroin from the possession of Javed, a resident of Peshawar. In seventh operation, ANF

Peshawar apprehended an individual, Behzad, a resident of Peshawar, with 20 gram heroin near Islamia College Peshawar. He was involved in supply of drugs to the students of educational institutions.

In eighth operation, ANF Peshawar recovered 140 gram heroin from the possession of a street drug peddler, Dilshad Khan, a resident of Charsadda. He was arrested from the adjoining area of Khyber Textile Mill, Karakoram Highway, Haripur.

hyderabad FIu confiscates white cumin worth rs05.7m

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HYDERABAD

ASLAM ANJuM QureShI www.customsbulletin.com

he Field Investigation Unit Hyderabad (FIU) has seized foreign origin 138 bundles of white cumin valued Rs05.7million involving duty/taxes of Rs503507during a raid on Abdul Gaffer Azeem Goods Transport Company Hyderabad at Hala Naka Hyderabad.

Following instructions of Karachi Customs Intelligence Director Tahir Qureshi, the Field Investigation Unit (FIU) Hyderabad is taking stern actions against the smugglers in the region therefore all possible meas-

ures are being taken to protect the national economy from illegal trade.

The intelligence ofRicials, acting on a tip-off received through Deputy Superintendent Qasim Ali Alvi, raided a vehicle loaded with white cumin. The vehicle was coming from Lahore and going to Hyderabad.

The intelligence team, comprising Deputy Superintendent Qasim Ali Alvi, Intelligence OfRicer Irfan Ghani, sepoys and a driver, established a checkpoint at the exit point of the city. The ofRicials intercepted a vehicle near Abdul Gaffer Azeem Goods Transport Company Hyderabad for checking that led to the recovery of foreign origin 138 bundles of white cumin.

Prior to the recovery of the contraband item, the team asked the driver about the customs clearance documents but he failed to produce the same. The ofRicials seized the item under customs bylaws and registered a case against the accused. Now the case will be sent to the customs adjudication for further legal action. The team deposited the non-duty paid item into State Warehouse Hyderabad. Meanwhile, The Customs’ Filed Investigation Unit Hyderabad has conRiscated non-duty paid 09500 kg of polyester’s ladies’ suiting cloths worth Rs4.7million involving duty and taxes of Rs2.6million. The offending vehicle was going from Peshawar to Karachi when the opera-

tion was carried out on Super Highway in Hyderabad. OfRicial source told Customs Today that illegally imported goods were seized following a tip-off received through Director Customs Karachi Tahir Qureshi. Prior to the seizure, the ofRicial asked the driver to show documents regarding the legal import and lawful possession of the recovered item but he could not produce the same. So the ofRicial conRiscated the item. Now the case will be sent to customs adjudication after making a seizure report for further legal action. The contraband item will be deposited into the state warehouse in Hyderabad under the supervision of Deputy Superintendent Qasim Ali Alvi and.

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Jordan, Iraq seal economic protocols Friday March 31, 2017

World

BAGHDAD: Jordan and Iraq inked minutes of the Jordanian-Iraqi joint committee meetings which entails boosting trade exchange and speeding up construction of the oil pipeline between the two countries. The protocols also encompassed encouraging Iraqi investors in Jordan and opening the border post of Turabil, the main crossing point between Jordan and Iraq, and identifying fees exempted Jordanian products that would harm the domestic Iraqi industry and agriculture sectors.

Both sides also agreed on facilitating registration procedures and registration status of Jordanian medicine in Iraq, and accelerating the issuance of drug testing and analysis results by the laboratories of the Iraqi Ministry of Health.

Qatar reveals details of $6.3b uk investment plan

Afghan banks post afs 930 million annual loss KABUL

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DOHA

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atar plans to increase its investments in the U.K. by 5 billion pounds ($6.3 billion) within the next Rive years, deepening the countries’ trade ties as London prepares to quit the European Union. The Gulf emirate already has about 35 billion pounds of investments in the UK, ranging from the Harrods department store to The Savoy hotel and the Shard skyscraper. It is now weighing opportunities in areas including infrastructure, real-estate and technology, Finance Minister Ali Shareef Al Emadi told Bloomberg Television in an interview on Monday at an investment forum in London. The plan will be carried out through the Qatar Investment Authority, the country’s sovereign wealth fund, and its subsidiaries, he said.

two-thirds of French people want to keep wealth tax wo-thirds of French people reject calls to abolish the wealth tax, as proposed by Presidential candidate François Fillon. The same poll found more than three-quarters feel the ISF (impôt de solidarité sur la fortune) encourages France’s wealthiest and its entrepreneurs to move abroad – while 83% also believe “the ISF is avoided by the really rich people who manage to escape from it”. Study after study shows the ISF is one of the rare French taxes that gets most people’s backing. Last October, 72% of those polled said they wanted the ISF to be maintained, slightly higher than the 66% in favour now. Opinion on the ISF is clearly divided by political persuasion: the rate climbs to 83% when respondents say they are left-wing sympathizers and falls to 37% for right-wing voters, who are even more likely than in October. –CB Report

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Al Emadi is part of a delegation of more than 400 Qatari ofRicials and business executives visiting London and Birmingham for a two-day investment forum. The visit concludes on Tuesday, a day before UK Prime Minister Theresa May plans to start the two-year clock on Brexit negotiations by invoking Article 50 of the Lisbon Treaty. Qatari investments would help to cushion the economic

fallout from Brexit on both sides.

Ahead of the break, the UK is taking steps to maintain foreign investments, going as far as to provide written assurances to Nissan Motor Co in an effort to stem competition from other EU members that want to poach talent and capital.

Qatar, too, has a big stake in keeping the UK economy and asset prices strong during and after Brexit.

Switzerland, Bangladesh vows to strengthen bilateral trade ties

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ighlighting strong ties between the two countries, the foreign ministers of Switzerland and Bangladesh vowed to strengthen their cooperation on a wide range of bilateral, regional and multilateral issues.

According to details, the foreign ministers of Switzerland and Bangladesh have exchanged letters extending cordial congratulations to each other and underscoring the excellent relations and friendship be-

tween the two countries, said a press release of Swiss embassy in Dhaka.

Federal Councillor Didier Burkhalter, head of the Federal Department of Foreign Affairs of Switzerland, in his letter to Bangladesh Foreign Minister AH Mahmood Ali, wrote that the excellent relations between Switzerland and Bangladesh have grown and multiplied since March 13, 1972, the day when Switzerland recognised the independence of Bangladesh. –CB Report

he Central Bank of Afghanistan (CBA) on Wednesday said that local banks in the country posted a AFs 930 million loss for last year.

A CBA spokesman said last year the banking system in the country was quite stable compared to a year before, but added that majority of the financial losses were incurred by three major banks. Some banking experts and economic commentators have said that the difficulty to obtain loans was one of the fundamental challenges which have been harming the banking system in the country.

Based on statistics of the CBA, banks in the country faced a 1.7 billion AFs loss in 2015 while their interest liability is around AFs 522 million.

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But the Rigure for 2017 is a AFs 930 million loss. However, banking interests in 2017 were recorded at around AFs 4 billion.

“Interests and loss are common in banking systems and banking loses do not mean all banks in the country are facing Rinancial problems. Some banks have worked at a loss due to the difRiculty they face in obtaining the loans. Only three banks worked at a loss during the previous Rinancial year,” said Emal Hashor, spokesman to CBA. Economists say factors such as banking expenditures, increased operating costs, security measures and difficulties while obtaining loans are causing financial losses for the banks.

“Problems in banking operations and difRiculties while obtaining the loans is part of the banking loses.

Currently some banks have a lot of money, but they cannot invest. This issue also creates extra costs for banks,” said banking expert Mir Ahmad Razawi.

kuwait willing to extend opec deal

uwait will support the extension of a global deal to cut oil supply beyond June, the country’s oil minister said on Monday as the market needs more time to rebalance. “Kuwait supports the extension of the deal beyond June … as it will speed up rebalancing of the market and will help bring prices to acceptable levels for oilproducing nations and the industry in general,” Essam al-Marzouq was quoted as saying by state news agency KUNA. Marzouq said Kuwait would discuss with other oil ministers the possibility of extending the deal as

“the rebalancing process is not easy and requires more effort and time.”

Preliminary data was “very positive”, Marzouq said and showed that compliance in February had increased to 95 from 91 percent.

“There is a cut of 1.2 million barrels per day according to secondary sources,” he said.

Marzouq said he was confident about the commitment to compliance by all countries that had agreed to the deal, which he said would “pay off in the next few months.” He blamed the rise of US oil stocks for a drop in prices last week. –CB Report

taiwani government may ease water costs

T TEIPEI

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he Water Resources Agency is to negotiate with the Taipei Water Department and Taiwan Water Corp today over the department’s selling prices to Taiwater in an effort to lower the state-run water company’s pur-

chasing costs, the Ministry of Economic Affairs said yesterday. “We hope the two parties can reach a consensus over the price as soon as possible. The burden is getting heavier on Taiwater,” Minister of Economic Affairs Lee Chih-kung told reporters after the Legislative Yuan’s Economics Committee meeting. Lee’s remarks came after Taiwater said the annual cost of buying

water from the department is expected to reach NT$1 billion (US$32.35 million) this year doubling from the NT$500 million to NT$600 million it has cost in the past due to the Shihmen Reservoir’s falling water level.

The Taipei Water Department manages the Feitsui Reservoir’s operations and the supply for Taipei City, while Taiwater manages the

water supply for the nation.

Since the Feitsui Reservoir’s water level is always more than 80 percent, Taiwater buys between 200,000 tonnes and 300,000 tonnes of processed water every day from the department to support demand in northern Taiwan, Taiwater said.

For amounts less than 300,000 tonnes, the department sells at NT$5.9 per 1,000 liters.

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Central Bank of Oman to raise capital to OMR1b MUSCAT: Oman’s central bank has decided to raise its capital to OMR1 billion from OMR760 million with effect from April 1, 2017, according to a press release.

The decision was taken by the apex bank’s board on Monday at its meeting chaired

by Dr Ali bin Mohammed Moosa, deputy chairman of the bank. The board also reviewed the actions taken by the Central Bank of Oman and licensed banks operating in Oman with regard to the financing of small and medium enterprises.

In addition, the board endorsed the audited accounts of Central Bank of Oman, Deposit Insurance Fund and Pension Scheme of Central Bank of Oman as at December 31, 2016.

Nepal international trade fair 2017 kicks off rime Minister Pushpa Kamal Dahal has vowed to expedite the process to construct an international standard exhibition hall in Chobhar, Kathmandu, at the earliest. With this commitment from the prime minister, the long-planned construction of an exhibition hall in Chobhar is likely to gain momentum. Inaugurating the sixth edition of Nepal International Trade Fair 2017, which kicked off in the Capital today, PM Dahal said that the government will initiate talks to introduce provisions for the construction of such exhibition hall in Chobhar. “Undoubtedly, Nepal does not have a proper venue to hold large exhibitions. The government will facilitate the private sector to promote domestic goods and services by constructing an international standard exhibition hall,” he stated.

In this regard, a Cabinet meeting later today formed a committee under the coordination of Minister for Commerce Romi Gauchan Thakali to expedite the construction process of international standard exhibition centre in Chobhar. –CB Report

World Customs

American arrested for allegedly smuggling drugs into taiwan

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Ministry to deliver 10,000 tonnes of seed to farmers fficials from the ministry of agriculture and irrigation said that it will distribute 10,000 tons of improved seed to Afghan farmers this year in order to help local farmers harvest better crops. They said that in addition to the seed, fertilizers will also be provided to the farmers. Afghanistan needs nearly 60,000 tons of seed annually, but government provides only 10,000 tons.

According to officials, the ministry of agriculture and irrigation can only afford to supply this amount and is not able to meet the overall needs of farmers in terms of supplying seed. “We need between fifty to sixty thousand metric tons of improved seed to facilitate all farmers across Afghanistan, but in view of our budget capacities, we are able to deliver only 10,000 tons of improved seed,” said. –CB Report

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TAIPEI

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n American man was arrested at Taiwan Taoyuan International Airport Thursday when he was found to have 10 packages of drugs in his carry-on baggage as he arrived in the country, according to aviation police. A total of 10 packs of marijuana, classed as a class-2 narcotic in Taiwan’s four-category classiRication for narcotics, were found in his luggage, the police said. The drugs

weighed about 1.03 kilograms, they added. The man, 38, went to Malaysia from Nepal on March 23, and Rlew to Taiwan from Malaysia on Thursday, the police added.

Acting on a tip-off that some backpackers have been recruited by a ring to traffic drugs into Taiwan, the police said they made a watch-list of suspects, including the American citizen.

In an initial interrogation with the police, the suspect claimed that he did not know that they were drugs, insisting that they were “gifts for friends,” the police said.

The man works as an English teacher in Hsinchu, northern Tai-

wan, the police said, but did not provide further information on how long he has lived in the country.

He was referred to Taoyuan prosecutors for alleged violation of the Narcotics Hazard Prevention Act, while further investigation is underway to track down other accomplices in the drug ring, the police said.

Those found guilty of manufacturing, transporting, or selling class2 narcotics are subject to life imprisonment or a minimum seven-year Rixed-term imprisonment, and may also be subject to a Rine of no more than NT$10 million (US$328,663).

Friday March 31, 2017

economy minister rules out new tax in hungary nlike the opposition parties, the government is not mulling introducing any new tax, the economy minister said in an interview published by daily Magyar Idők on Monday. Mihály Varga reacted to the recent announcement of the Socialists of a policy aimed at a “more fair sharing of the public burdens”. Unveiling policy details, László Botka, the opposition party’s candidate for prime minister, said that they would impose a “luxury tax” on incomes over 1 million forints (EUR 3,200) a month, affecting some 100,000-200,000 families.

He said the tax would increase central revenues by an annual 300 billion forints (EUR 0.96bn), which could be used to cut taxes for low earners. Botka also proposed that properties worth over 100 million forints, as well as cars or other belongings worth more than 10 million forints should be taxed. “It would be rather immoral to burden those with new taxes who have purchased for instance a new home for themselves or their families from their net income already taxed,”Varga told the paper. He said the government would instead guarantee central revenues by quelling the black economy. To this effect, it connected tills online to the tax office and launched an electronic monitoring system (ekaer) for road haulage companies.

These measures have generated 200300 billion forints in extra revenues for the central budget over the past two years, Varga said. –CB Report

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Drug smuggling operation smashed by policia Nacional

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MADRID

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olicia Nacional have dismantled a drug trafRicking network, that was planning on bringing Cocaine into Spain.

24 people were arrested in a series of raids in Galicia, Madrid, Guadalajara and Guipúzcoa. 6 vehicles were also impounded believed to be used to carry the drugs around Spain. As well as the arrests, 2,400 kg of cocaine were also conRiscated. One

of those arrested was a well known Colombian drug trafRicker, who was understood to run a large drug gang.

Meanwhile, Spain’s Civil Guard police force said on Sunday it had busted an alleged drug-smuggling gang on the Canary Island of Tenerife that was dedicated to introducing large quantities of hashish from Morocco aboard Rishing vessels.

A total of 1,753 kilograms (1.9 short tons) drugs were seized and nine people aged 18-35 years old of Spanish and Moroccan nationalities were arrested and placed under ofRi-

cial investigation for alleged drug trafRicking and belonging to a criminal organization, a Civil Guard statement said. The investigation began when alleged gang members were seen introducing large quantities of hashish through the south of Tenerife using Rishing boats. The boats would allegedly make contact with a mother ship from Morocco and transship the drugs while out at high sea. The smugglers would thus try to go unnoticed since it is normal for Rishing boats to head out to sea and follow courses that would be unusual for other types

of vessel. After monitoring the gang, agents detected that a meeting between a Rishing vessel named “Askada I,” based in Tazacorte (La Palma) was due to take place with a pneumatic boat 30 miles south of the port of Los Cristianos. The agents established a special surveillance device in an area near the coast to intercept them when they were about to unload the merchandise. In this way, the gang leader and his right-hand man were located close to Los Abrigos as they were giving orders from the shore for a drug unloading and arrested.

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Customs Court issues arrest warrants for alleged smuggler Friday March 31, 2017

Lahore

LAHORE: The Special Court of Customs Taxation and Anti-Smuggling has ordered a suspected smuggler, Mashooq Ali, to appear before the court within the given time period otherwise he will be declared as proclaimed offender.

According to the details, Mashooq Ali son of Wahid is a resident of mohallah Khwaja Ghreeb Nawaz grid station road Vehari and has been involved in alleged smuggling. The Customs Court summoned the accused repeatedly but he did not appear before the court. Now, Special Judge Chaudhary Ameer Muhammad Khan has issued a final notice, directing him to appear before the court within 30 days otherwise he will be declared as proclaimed offender and his moveable or immovable property will be seized.

Fto hears appeal of Abdul hamid khan Darbari against rto Sargodha LAHORE

SAJID NAwAZ

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he Federal Tax Ombudsman (FTO) has postponed the hearing of a case filed by Abdul Hamid Khan Darbari, a resident of Sargodha, against the Regional Tax Office (RTO) Sargodha until the next hearing.

FTO Advisor Tariq Yousaf heard the case in which counsel for appellant argued that the RTO Sargodha has not released the refunds to the appellant for the last two years.

He said the RTO Sargodha collected excessive tax from the appellant during the last two years. The company approached the ofRicer concerned many a time for the issuance of the refunds but the department did not pay the refunds after the passage

prA to bring 100 more beauty saloons under BIMS fter the successful roll-out of RIMS (Restaurant Invoice Monitoring System), Punjab Revenue Authority (PRA) has now developed Beauty Parlours Invoice Monitoring System (BIMS) which has been done in collaboration with the Punjab Information Technology Board. To increase revenue of the department PRA has listed more than one hundred famous beauty saloons that are located in posh areas of the city.

Earlier a meeting in this regard was held with Hair and Beauty Salon’s Association 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. –CB Report

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of a reasonable time. Finally, the appellant decided to approach the Federal Tax Ombudsman (FTO) seeking intervention in this case. The counsel appealed the FTO advisor to direct the commissioner of RTO Sargodha to clear the refund claims.

The counsel further said the delay in issuance of refunds puts the burden on the taxpayers, so the RTO should audit the cases and release the extra amount collected by it from the taxpayer. On the other hand, counsel for the RTO argued that the appellant has not submitted all record in the ofRice on the basis of which it is claiming for refunds. If appellant provides accurate record, the RTO will release the refunds if any after the proper assessment, he added. After hearing the arguments from both sides, Advisor Tariq Yousaf adjourned the case and directed the parties to appear on the next date of hearing to present arguments in the case.

prA summons DJ Butt in rs19.911m tax evasion case

LAHORE

M IMrAN MehAr

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he Punjab Revenue Authority (PRA) has summoned renowned DJ Butt for non-

customs court adjourns hearing of case against cell phone smuggler

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he Special Federal Court of Customs Taxation and Anti Smuggling adjourned the hearing of a case Riled against mobile phones smuggler.

According to details available to Customs Today, Muhammad Ilyas was intercepted by the customs authorities deputed at Faisalabad International Airport while he was coming back from Dubai through a private airline. During checking of his luggage, the customs authorities found 400 costly mobile phones hidden in

his bag. Worth of the smuggled mobile phones is more than Rs 2 million and he attempted to make a huge loss to the national kitty in the wake of taxes. Customs Investigation and Prosecution team presented him before the customs court and asked for his physical remand that was approved by the court for four days.

Customs investigation team after completion of remand presented him before the court for further proceedings where the court sent him to jail on judicial remand. –CB Report

payment of taxes even after the Commissioner Appeals has settled the application for revision of taxes.

DJ Butt got fame when he provided sound system and lights to Pakistan Tehreek-i-Insaf ’s (PTI) months-long Islamabad sit-in in 2014. Butt was summoned to appear before the PRA on March 24.

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He was asked to attend the hearing of his case to Additional Commissioner Enforcement Shahzad Mehmood Gondal as the PRA had provided him the opportunity to plead his case.

However, in case of failing to appear for hearing the case of tax evasion against DJ Butt would be decided ex parte on the basis of the evidences available with the PRA. Earlier, the PRA had served the tax notices on the DJ Butt when he appeared on the media and claimed that the PTI did not pay his dues of the services rendered to the party rallies and functions, including the Islamabad sit-in in the history of the country. As per Punjab Sales Tax on Services Act 2012, DJ Butt is liable to pay 16 percent of revenue earned through his event management services. DJ Butt was served the notice regarding revenue earned from event management services during the period of August, 2014 to June, 2015.

prBc to foster economic growth

akistan Retail Business Council (PRBC) has been established to encourage and foster economic growth and human development through expansion and advancement of organised retail business in the country.

This was stated by PRBC chairman Ziad Bashir in the Rirst board meeting of the newly-formed council. Bashir, who is also Director of Gul Ahmed Textile Mills Limited and Founder of Ideas by Gul Ahmed, said that the PRBC is an industry-funded organisation which is representing Organised Retail businesses of Pakistan that have signiRicantly con-

tributed to growth of Pakistan’s economy. Its members include Service Sales Corporation (Pvt) Limited, Bata Pakistan Limited, Al-Karam Textile Mills (Pvt) Limited, Sefam (Pvt) Limited, Khaadi (Smc-Pvt) Limited, Gul Ahmed Textile Mills Limited, Team A Ventures (Pvt) Limited and Levis Strauss Pakistan (Pvt) Limited. The council is established to stimulate the economic growth of Pakistan through research on retail industry, advocacy, and policy making. The chairman said that being the Rirst and only strong advocate for Organised Retailing business, PRBC plans to work. –CB Report

customs Appellate tribunal hears 19 special cases’ hearings

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LAHORE

cuStoMS BuLLetIN report www.customsbulletin.com

he Customs Appellate Tribunal’s Division Bench-II, comprising Judicial Member Omer Arshad Hakeem and Member Technical Imran Tariq and Single BenchII comprising Omer Arshed Hakeem, Member Technical, heard 19 cases’

hearings and adjourned all of them until the next hearing. The tribunal reserved verdicts in few cases.

The Customs Appellate Tribunal’s Division Bench heard hearings of 12 cases and adjourned the hearings of 10 cases for next dates. The hearings heard include Safder Ali versus Directorate of Intelligence and Investigation Faisalabad, Customs Lahore versus Abdul Kabir, Farhan Saleem versus

Directorate of Intelligence and Investigation Faisalabad, Abdul Bari versus Customs Faisalabad, Directorate of Intelligence and Investigation Faisalabad versus Muhammad Akram Chohan.

On Monday, the tribunal heard cases of Directorate of Intelligence and Investigation Faisalabad versus Arif Abdullah, Customs Lahore versus Malik Abid Mehmood, Customs Faisalabad versus Iftekhar Ahmed, Ahmed Shah ver-

sus Customs Multan and Khadim Hussain Chandia versus Customs Multan.

The Single Bench-II’s Member Technical Omer Arshed Hakeem heard nine cases including BHA International versus Customs Multan, Customs Lahore versus Kaleem Ullah, Directorate of Intelligence and Investigation Faisalabad versus Amjad Javaid and Bisma International versus Customs Lahore.

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SC ports container volume up 9% CHARLESTON: SC -South Carolina Ports Authority reported nearly nine percent fiscal yearover-year container volume growth through February. SCPA’s total fiscal year-to-date container volume reached nearly 1.4 million TEUs last month, compared to 1.3 million TEUs handled during the same period last year. SCPA handled 175,820 twenty foot-equivalent units (TEUs) in February, an increase of 11.3 percent over February 2016. Last month was the best February on record for pier container volume, or boxes handled. SCPA moved 98,259 containers across its docks in February, bringing fiscal year-to-date pier container volume to 783,931 containers. “Last month’s volumes reflect strong growth over last year, and we handled the highest pier container volume ever during a February.

port of Melbourne expansion could spark war with residents n elevated freight road could be built right through Fishermans Bends’ new suburbs to cope with all the truck traffic in and out of the Port of Melbourne. The state government wants to boost the port’s capacity and defer building a second port for another 50 years, which will increase congestion in the inner city.

The proposed road, called “Freight Link”, would snake for five kilometres from Webb Dock at the foot of the West Gate Bridge through Port Melbourne, across the Yarra River and join with the Western Distributor, Transurban’s planned toll road. Indicative maps prepared for Infrastructure Victoria show the freight link running through Wirraway, an area the government has recently earmarked for a future “family friendly neighbourhood” in Fishermans Bend. But con-

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gestion around the port is likely to increase to problem levels within a decade “to the point where acceptable VicRoads conditions are reached by 2026 in the peak”. Experts in planning and logistics said putting new roads and heavy truck traffic next to suburbia was a recipe for conflict, as seen in long-running battles between residents and freight operators in Melbourne’s inner west. “Planning needs to get much more sophisticated when it’s dealing with these intense potential conflicts between incompatible land uses,” Jago Dodson, RMIT’s Professor of Urban Policy, said.

“If the port is going to intensify its operations and create increased demand for freight travel that is something that needs very clear strategy and detailed consideration in terms of design so that we don’t end up with very poor outcomes. –CB Report

Ports & Shipping

chennai port trust signs Mou with puducherry PUDCHERRY

cuStoMS BuLLetIN report www.customsbulletin.com

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hennai port trust chairman P Raveendran and Puducherry chief secretary Manoj Parida signed the memorandum of understanding (MoU) on Wedensday in the presence of Union minister for road transport, highways and shipping Nitin Gadkari, Puducherry chief minister V Narayanasamy, Malladi Krishna Rao, M Kandasamy and the speaker of the legislative assembly V Vaithilingam in New Delhi.

Chennai port trust has come forward to develop Puducherry port as its satellite port in an effort to reduce trafRic at the Chennai port which has been witnessing heavy trafRic in recent times.

Puducherry port will handle four lakh tonne of cargo in the Rirst year and subsequently will handle 10 lakh tonne of cargo every year. The operators at Chennai port pointed out that receiving and moving cargo have become time-consuming and

difRicult in the recent times and argued that the freight in small barges can be moved inland from Puducherry quickly when compared to Chennai. The cargo will be transported from Puducherry port through trains and through containers by roads. The port will handle cargo like sugar, timber, cement and steel. Chennai port trust has come forward to provide a Rinancial assistance of Rs 50 crore to connect

Puducherry port with the railway station for quick movement of cargo following an appeal from Narayanasamy. The trust also come forward to bear the cost of dredging expenses for the Rirst year while Puducherry government will undertake dredging from the second year.

The cargo quay of the new port is 150m long and 25m wide with 2.5m draft alongside, 2.5m draft in channel and 2m draft at the mouth.

Friday March 31, 2017

cosco Shipping ports Feb throughput up 6% hina-focussed port operator Cosco Shipping Ports (CSP) still managed to turn in a 5.6% rise in overall throughput for February but has seen drops in its key Bohai Rim and Yangtze River Delta regions.

CSP said in a press release that February overall throughput across all its ports rose to 6.94m teu from 6.57m teu in the previous corresponding period. Meanwhile at CSP’s Bohai Rim ports throughput fell 1.6% to 2.22m teu from 2.25m teu previously while at the Yangtze River Delta region volumes fell 3.6% to 1.36m teu from 1.41m teu previously. CSP’s Pearl River Delta ports however saw a welcome recovery, with throughput rising 4.5% to 1.61m teu from 1.54m teu previously, with the Hong Kong terminals in particular doing well to recover from a very low base in the previous corresponding period. Worryingly however, CSP’s Yantian International Container Terminals, which had been a stalwart performer in that cluster, saw volume plunge 16% to 649,400 teu. –CB Report

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krishnapatnam port to buy out 3i group’s stake P

MUMBAI

cuStoMS BuLLetIN report www.customsbulletin.com

romoters of Krishnapatnam Port Co. Ltd (KPCL)have approached potential investors to raise up to Rs1,500 crore in structured debt to buy out the stake held by private equity fund 3i Group Plc, two people aware of the development said. The UK-based fund had invested Rs800 crore in KPCL for around 10% stake in 2009, but relations soured when the promoters allegedly refused to honour an agreement to buy back the stake at a pre-set price at a later date. 3i then moved the Company Law Board.

A successful fundraising could end the acrimony, the people cited above said on condition of anonymity. “The CVR group (promoters of KPCL) has been in talks with several potential investors but discussions with Piramal Enter-

prises Ltd (PEL) have progressed well,” said the Rirst of the two persons. “PEL is an existing investor in Navayuga group of companies, also part of CVR group founded by its chairman C.V. Rao in 1986. PEL is also keen on the transaction since this could help it exit its investments in two Navayuga road assets— Navayuga Devanahali Tollway Pvt. Ltd and Navayuga Dichpally Tollway Pvt. Ltd,” he said.

In 2013, Piramal Enterprises had invested around Rs550 crore in Navayuga Road Projects Pvt. Ltd, (NRPPL) the holding company which controls the two assets. “SigniRicantly, KPCL also owns 49% stake in Navayuga Dichpally Tollway Pvt. Ltd and, given the ongoing dispute, PEL has found it difRicult to exit the assets,” said the second person, adding that till recently, Navayuga was in talks to sell the two road assets to Essel Group but the transaction did not close be-

cause Essel was not comfortable buying the assets given the litigation involving KPCL. While emails sent to C.V. Rao’s ofRice, Navayuga Engineering Co. Ltd (NECL) and KPCL on Tuesday remained unanswered, a Piramal Enterprises spokesperson said the company declined to comment. A 3i Group PLC spokesperson said, “No agreement has been reached yet”.

Krishnapatnam Port is one of India’s largest private sector ports. Inaugurated in 2008, the port was built

by NECL, the engineering, procurement and construction (EPC) arm of CVR Group, under the build-operateshare-transfer (BOST) agreement with the Andhra Pradesh government. The port covers an area of 4,553 acres. The BOST agreement, valid for 30 years and further extendable to 50 years, requires the promoters to pay 2.6% of the port’s gross revenue to the state government for the Rirst 30 years. The

agreement also requires KPCL to develop the port in three phases. The second phase of development is underway. The company claims the port will become one of the biggest ports in the world and the largest in India.

A 12,000 acre Special Economic Zone (SEZ) is also being set up in the vicinity of the port which is being developed by Krishnapatnam Infra-Tech Pvt. Ltd, a special purpose vehicle set up by KPCL. In recent years, coal handling has become the main source of revenue for KPCL, although iron ore constituted the bulk of cargo handled when the port began operations in 2008. At least seven power producers are building coal-Rired electricity generating units in and around Krishnapatnam, with a combined capacity of 14,000MW based on imported coal which is expected to generate a demand of 40 million tonnes per annum of imported coal.

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Peshawar dry port earns Duty Taxes valued Rs4607.21m in eight months ISLAMABAD: The Peshawar Dry Port collected total Duty Taxes valued Rs4607.21million during the initial eight months of Financial Year 2016-17.

The dry port generated highest total Duty Taxes of Rs721.65million during the month of February FY2016-17. According to Fazle Samad, Additional Deputy Collector MCC Islamabad, the performance of the Peshawar Dry Port has been excellent during eight month (July to February) FY2016-17. During said period, the dry port collected Rs1786.71million total Customs Duty (CD) whereas it did Rs1752.52million total Sales Tax.

Friday, March 31, 2017

CUSTOMS BULLETIN

Dg customs Valuation revises customs values of 80Mg 2ML injections KARACHI wAQAr AhMeD ANSArI www.customsbulletin.com

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he Directorate General of Customs Valuation has revised the customs values of Lincomycin injection, Metronidazole injection, Gentamycin injection 80MG 2ML, and Oxy tetracycline capsules through Valuation Ruling No 1094/2017 under Section 25A of the Customs Act, 1969.

According to details, the customs values of Lincomycin injection, Metronidazole injection, Gentamycin injection 80MG 2ML, and Oxy tetracycline capsule were earlier determined vide VDB No.104/2016 dated, 29-11-2016, 105/2016 dated, 30-11-2016 and 174/2017 dated, 03-02-2016 and VDB No.147/2017 dated,03-012017. Representations were received from commercial importers, for determination of customs values of the injections and capsules afresh.

Meeting with all the stakeholders including importers and representatives from clearance Collectorates, was held on 16-03¬2017, to discuss the current international prices of the subject items. The

commercial importers stated that the prices of subject items are showing downward trend in the international markets. The viewpoint of all participants was heard in detail and considered to arrive at Cus-

toms values of Lincomycin injection, Metronidazole injection, Gentamycin injection 80MG 2ML, and Oxy tetracycline capsules.

Valuation methods provided in Section 25 of the Customs Act, 1969

were duly applied in their regular sequential order to address the particular valuation issue at hand.

The transaction value method as provided in Sub-Section (1) of Section 25, found inapplicable in light of

the wide variety of invoices submitted at import stage the veracity of which could not be ascertained fully, hence requisite information required under law was not available to arrive at the correct transaction value.

Shc disposes of toilet soap consignment case KARACHI

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indh High Court (SHC) has ordered release of a consignment of toilet soap on provisional basis. The petition was Riled by Ittefaq General Store.

As per the details, SHC division bench comprising Justice Munib Akhtarand and Justice Yousuf Ali Sayeed. The bench earlier heard Talal Tariq Khursheed advocate of

Franklin Law Associates. Talal Tariq duly instructed by CEO Faisal Ghani submitted before the court that the issue in petition was guide line issued by the Deputy Director, Pakistan Customs and assessment of the custom value of the imported goods on the basis of the impugned guideline which is on higher side.

The guidelines has been suspended in a number of identical cases and this bench has ordered Rixing all the identical petitions , Special Custom Reference Applications at one time, he submitted while relying on order of the court

passed in CP 744 of 2016.

The bench allowing the prayer for interim relief, ordered release of the consignment against payment of differential amount and other levies while ordering that the instant petition be Rixed with identical petitions to be heard by this bench in next few days.

Meanwhile, Castrol Pakistan (Private) Limited has moved the Sindh High Court (SHC), seeking directions for early disposal of its appeal pending before commissioner Inland Revenue Appeals-I against the impugned show cause notice issued by additional com-

missioner Inland Revenue Audit Range-B, Zone-I Large Taxpayer Unit. Counsel for the petitioner stated that the petitioner e-Riled its income tax return under Section 114 (1) of the Income Tax Ordinance, 2001 in respect of tax year 2013, however, the additional commissioner Inland Revenue Audit Range-B, Zone-I, Large Taxpayer Unit issued a show cause notice under section 122 (9) of the ordinance, alleging that the petitioner’s assessment for tax year 2013 is erroneous insofar as it was prejudicial to the interests of revenue. According to the petitioner, it

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submitted a detailed reply which was denied by the tax department and again a show cause notice was issued to the petitioner dated 17/01/2017 and petitioner was asked to explain its position with regarding to the issuance of discount to distributors.

He further argued that being aggrieved, it approached commissioner IR Appeals-I and Riled an appeal before it which is pending before commissioner IR Appeals along with stay application and absence of any stay order it has apprehension of coercive action from tax department.