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M HAYAT

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ustoms Central Region has surpassed customs duty target set for the month of February and collected Rs 3,889 million, registering 15 per cent growth against the proposed target of Rs 3,297 million.

Sources said that the Chief Collector instructed all the collectors of the four collec-

torates to work hard to achieve the targets for the Uinancial year 2016-17.

The Customs Lahore Appraisement collected Rs 2,177 million during the month against proposed target Rs 1,890 million during the period under review.

Similarly, Customs Lahore Preventive collected Rs 722 million customs duty during the period under review against the set target of Rs825 million.

The Multan Collec-

Vol 2, Issue No. 96

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torate collected Rs 777 million during the month of February against the target of Rs 424 million.

In the same way, the Faisalabad Collectorate collected Rs 211 million during the seventh month of Uinancial year against the target Rs 158 million.

Overall the central region collected total customs duty from all the four collectrate worth Rs 3889 million customs duty against the 3297 million during the period.

Multan Customs Intelligence seizes dry coconut worth Rs6m during crackdown

IHC directs to decide appeal of M/s Al Catel Luscent within month

ECO to achieve trade potential through integration

Well-to do people should come forward to help poor: Collector Zulfiqar

Chief Collector North Sarwat Tahira to open Customs Welfare Shop today

Customs I& Multan Range OďŹƒce seized huge quantity of foreign origin dry coconut | See pAge 02 |

A division bench of IHC disposed of a M/S Al Catel Lusent Pakistan Limited | See pAge 03 |

Dar has urged ECO member countries to focus on trade and investment | See pAge 04 |

CollectorZulfiqarhassaidthatunderthesocial corporate responsibility well-to do people | See pAge 14 |

Sarwat Tahira , Chief Collectorwill inaugurateaCustomsWelfareShopofMCC | See pAge 16 |

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Rs131m being used for Badin coal reserves’ appraisal Wednesday, March 8, 2017

National

ISLAMABAD: The government is spending Rs131.619 million for appraisal of huge coal reserves confirmed by the Geological Survey of Pakistan (GSP) in the year 2014 after extensive drillings started since 2012.

“Rs 131.619 million will be used for appraisal of newly discovered coal resources in Badin and its adjoining areas of Southern Sindh,” official sources in the Ministry of Petroleum and Natural Resources said.

According to GSP, they said the coal deposits were estimated to be over one billion tones.

Multan customs intelligence seizes dry coconut worth rs6m during crackdown

ISLAMABAD

MULTAN

cuSToMS BuLLeTin reporT

iMrAn ALi

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ax Reform Commission’s (TRC) high powered committee Thursday discussed various strategic measures to promote tax culture and reduce the size of undocumented economy in the country. The meeting of committee was presided over by Special Assistant to Prime Minister, Senator Haroon Akhtar Khan. Among others, it was attended by Chairman Federal Board of Revenues (FBR) Dr. Muhammad Irshad, Member TRC committee Syed Masood Ali Naqvi and other members of the FBR board, official sources said. The committee discussed various proposals for reducing the size of undocumented economy in the country.

Matters pertaining to promote use of Information Technology (IT) in the FBR, evaluation of performance and matters related to appellate forums also came up to discussion during the meeting. The committee also deliberated on various proposals for conducting electronic monitoring of the production of tobacco and mapping of retail sales. It decided to make audit more effective and also discussed the ways to make the tax laws more easy.

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ustoms Intelligence and Investigation Multan Range OfUice seized huge quantity of foreign origin dry coconut during intelligence based operation.

According to details, Customs Intelligence and Investigation Multan Range OfUice continued their antismuggling campaign in the region against smuggled goods by intercepting dry coconut consignment near Sadiqabad region.

Customs Intelligence received credible information from their sources regarding transportation of the dry coconut consignment through jurisdiction of Multan Range OfUice.

Deputy Director Abdul Mueed Kanjoo of Customs Intelligence and Investigation Multan constituted special team under the supervision of Superintendent Fareedud Din Masood to foil attempt of smuggling from their territory. Customs Intelligence deputed their staffs to intercept any smuggling attempt after receiving information.

It is necessary to mention here that Customs Intelligence and Investigation Multan enhanced the monitoring of the transported goods to capture smuggled goods from the Sadiqabad route. During monitoring of goods coming from various areas Field Intelligence Unit (FIU)

Trc body discuss ways to reduce size of undocumented economy

of Sadiqabad has seized a consignment of foreign origin dry coconut which was loaded on the container.

Customs Intelligence asked the driver to present import documents of the loaded goods to prove legal possession of the goods and driver produced the import documents of

the loaded goods to satisfy Customs intelligence unit. Customs Intelligence and Investigation has found the submitted import documents irrelevant after the physical examination of the Dry Coconut. Dry coconut consignment was transported from Quetta to Faisalabad

Customs found 500 bags of coconut in the container and each bag was loaded with 50 kilogram coconut. The total weight of the seized coconut was almost 25000 kilogram and their value was almost 6 million along with detained vehicle during their action.

faisalabad customs seizes goods worth rs20.6m T

FAISALABAD

nAeeM SHeikH

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he Customs Intelligence and Investigation Faisalabad conUiscated goods valued Rs 20.6million involving duty and taxes of Rs13.9million during third week of February of Financial Year FY2016-17 besides impounding offending vehicles worth R600000 in different anti-smuggling activities.

The customs, under the super-

vision of Rubab Sikandar, conducted various raids to foil smuggling attempts and registered smuggling cases were against suspects. Sources said the customs intelligence seized a huge quantity of goods. Following the instruction, Deputy Director Muhammad Riaz Hussain conducted a raid against the smuggled goods and vehicles in different areas of his jurisdiction including Sargodha, Khushab and Faisalabad.

The team conUiscated smuggled

goods including foreign origin used miscellaneous machinery worth Rs4.5million involving customs duty of Rs2.9million, smart dreams brand chocolate with coconut cream made in Iran (1530-Boxes), Rs1.3million involving customs duty of Rs885420, Aldin brand chocolate Bar (1200-Box) valued Rs01.00million involving duty of Rs776587, Rani brand Uloat juice (6216-Tinpacks) Rs500000 involving customs duty of Rs395369, A.C compressor auto for LTV (169-Pcs) worth

Rs01.00million involving customs duty of Rs76800, miscellaneous media speakers valued Rs6.2million involving duty of Rs02.09million, Special grade Boski cloth (240-kgs) worth Rs07.00million involving customs duty of Rs901612, Toyota Uielder car with registration No: AAN-349 valued Rs2.5million involving duty of Rs2.09.

The customs Uield investigation unit Khushab seized foreign origin ( F/O ), Chocolate coconut Bar made in iran ( 250-Cartons ), Worth Rs,

1,440,000 involving customs duty Rs, 875,500 during the above said period. The customs staff, including Senior Intelligence OfUicer Muhammad Tahir Iqbal, Intelligence OfUicers Muhammad Saleem, Muhammad Ramzan, Muhammad Siddique and Sepoys Muzamil Hussain, Israr Ahmed, Liaqat Ali, Muhammad RaUiq, Muhammad Iqbal and Mussaddaq Ahmed, participated in the seizure operations. The seizure cases have been referred to the Customs Adjudication for further legal actions.

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Rs131m being used for Badin coal reserves’ appraisal ISLAMABAD: The government is spending Rs131.619 million for appraisal of huge coal reserves confirmed by the Geological Survey of Pakistan (GSP) in the year 2014 after extensive drillings started since 2012.

“Rs 131.619 million will be used for appraisal of newly discovered coal resources in Badin and its adjoining areas of Southern Sindh,” official sources in the Ministry of Petroleum and Natural Resources said. According to GSP, they said the coal deposits were estimated to be over one billion tones.

“The coal is of good quality and high heating value.

Quetta customs impounds vehicles & goods valued rs 788.103m

Wednesday March 8, 2017

National

iHc directs to decide appeal of M/s Al catel Luscent within month

ISLAMABAD

TAriQ DerYA

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he Model Customs Collectorate Quetta impounded worth Rs788.103million smuggled goods and vehicles during the first half of Financial Year 2016-17. The collectorate seized 324 non-duty paid vehicles valued Rs238million during said period. The sources disclosed that the Anti-Smuggling Organization (ASO) Quetta seized 1.141237 million litres of POL products i.e. petrol, diesel, kerosene and mobil oil valued Rs64million during above said period.

The ASO Quetta seized 12 bottles of foreign origin liquor worth Rs0.103million. The ASO seized a huge quantity of foreign origin smuggled goods worth Rs486million.

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faisalabad fiA arrests notorious human trafficker FAISALABAD

iQrA SHeHZADi

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he Federal Investigation Agency (FIA), has arrested a human trafficker namely Habibur Rahman son of Fiaz Mohammad during an action. The accused person belonged to Kamalia. Sources told Customs Today that FIA Deputy Director Syed Imam Zaidi and Sub-Inspectors Taimoor Haider and Abbas Bajwa conducted a raid on the whereabouts of the accused person who was running an illegal business of sending innocent people abroad after extorting amounts from them. The accused person extorted Rs7,90,000 from his cousin to provide him employment in Malaysia. The FIA also recovered original Pakistani passport and some copies of other passports from his possession. During checking mobile phone of the accused, scanned copies of FIRs, affidavits, CNICs of different people, electronic tickets.

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ISLAMABAD

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division bench of Islamabad High Court disposed of a M/S Al Catel Lusent Pakistan Limited with directives the Large Taxpayers Unit to hear and decide appellant’s application within 30 days and submit report before the bench.

IHC bench, comprising Justice Athar Minallah and Justice Miangul Hassan Aurangzeb issued these directives while disposing of a matter Uiled by M/s Al Catel Lusent Pakistan Limited. The appellant had Uiled a case challenging a show cause notice issued by Deputy Commissioner Inland Revenue, Islamabad. The bench had recently reserved the decision of the case following completion of arguments by sides on the day. M/s Al Catel Lusent Pakistan Limited had Uiled case against LTU, Islamabad. It had prayed the court to direct the respondent on hearing its application for relief pending before the department’s ofUicials. Appellate Tribunal Inland Revenue (ATIR), Federal Board of Revenue (FBR), ofUicers of LTU including commissioner Inland Revenue, deputy commissioner Inland Revenue and commissioner Inland Revenue (Appeals) were made respondent in the case. M/s Al Catel Lusent Pakistan Limited had Uiled the case seeking restrictions for LTU, Islamabad about recovering outstanding tax

amount or making any other coercive move prior to court’s directions on the issue. M/s Al Catel Lusent Pakistan Limited also stated that show cause notice mentioning outstanding tax amount was issued with mala-Uide intentions. The appellant further prayed the court to bar LTU from taking coercive measure to recover the said amount. M/s Al Catel Lusent Pakistan Limited submitted before the court that the impugned order was issued under

M/s Al catel Lusent pakistan Limited had filed case against LTu, islamabad it had prayed the court to direct the tax athorities for relief pending

cpec becomes center-point of trade routes

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ISLAMABAD

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www.customsbulletin.com ith related major energy and infrastructure projects being in full swing, ChinaPakistan Economic Corridor (CPEC) has become the center-point where transit trade routes converge linking Russia with Central Asia.

Pakistan has also provided a special security division to secure CPEC from all dangers, a Chinese official website ‘China.org.com’

opined on Tuesday. The Belt and Road (B&R) kicked off with the CPEC, the first of its six corridors and the linchpin of the B&R strategy, as it unlocks Central Asia, connects to Xinjiang, leads down to Gwadar port and then onwards to Africa, Iran and the Middle East.

All this economic activity has also brought about a major geopolitical realignment in the form of the China-Russia-Pakistan power troika, an equation which provides economic beneUit while it addresses

mutual security concerns.

It also consolidates the entire region vis-a-vis the new dimension of U.S.-India ties. The B&R initiative is a vital combination of geo-economics and geo-strategy.

The Belt and Road (B&R) is an innovative paradigm of global integration involving 65 countries, including one-third of the world’s GDP, impacting 65 percent of the world’s population and a quarter of all the goods and services, the website observed.

mala Uide intentions and had no legal standing or authority and the court may decide on relief which it deemed appropriate in this regard. It also stated that due legal course was not followed by the department in issuing the order. M/s Al Catel Lusent Pakistan Limited had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not addressed grievances of the appellant.

govt asked to ban setting up of sugar mills he National Assembly’s Standing Committee on Textile Industries recommended to the government onto ban establishment of new sugar mills, especially in cotton growing areas.

The recommendation came at a time when the cotton acreage has shrunk by 22 per cent over the past 10 years because of low yields, according to the textile ministry.

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Tractors manufacturing grew by 63.32% in first half Wednesday March 8, 2017

Business

ISLAMABAD: Tractors manufacturing in the country during first six months of current financial year increased by 63.32 percent as compared to the corresponding period of last year. During the period from July-December, 2016-17, as many as 21,336 tractors were manufactured against the production of 13,064 in same period of last financial year. According the computation of quantum index number (QIN) of large scale manufacturing industries of Pakistan Bureau of Statistics, during the month of December, 2016, about 4,447 tractors manufactured in the country as against the production of 813 tractors of same month of last year.

eco to achieve trade potential through integration ISLAMABAD

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inister for Finance Muhammad Ishaq Dar has urged Economic Cooperation Organization (ECO) member countries to focus on trade and investment. He said regional connectivity is being enhanced through bilateral and multilateral agreements, a private news channel reported. The Minister stressed the need for easing procedures for visa facilitation, especially for business community among ECO countries.

Ishaq Dar said Pakistan has achieved macro-economic stability, and is now treading on the path of

govt to withdraw duty on auto-grade steel KARACHI

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oard of Investment (BoI) Chairman Miftah Ismail has said the government would consider auto vendors’ proposal for removing regulatory duty on ‘auto-grade steel’ in the coming budget.

Regulatory and anti-dumping duties were imposed on the import of steel materials to protect the local industry. However, the government would fully support the local auto parts manufacturers in removal of these duties from ‘autograde steel raw materials’ which are not manufactured locally.

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sustainable and inclusive growth.

He said International experts acknowledged the economic headway

Pakistan has made.

Meanwhile, Secretary General of Economic Cooperation Organization

(ECO), Halil Ibrahim Akca, Wednesday stressed the need to implement its agenda and plans to achieve the shared goals and objectives of prosperity in the region.

In his welcome remarks in the 13th ECO summit, he said the summit was of prime importance as it offered a great opportunity to the ECO members to review the progress made so far and guide it in its future endeavours.

Congratulating Prime Minister Muhammad Nawaz Sharif on his unanimous election as Chairman, he hoped that under his able leadership, the ECO would progress further in implementing its agenda for regional prosperity and stability.

All the ten member states including Azerbaijan, Kazakhstan, Kyrgyzstan, Iran, Tajikistan, Turkey.

carpet industry’s issues discussed with textile secretary P

LAHORE

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akistan Carpet Manufacturers & Exporters Association (PCMEA) ofUice-bearers and Federal Textile Secretary Hassan Iqbal discussed issues being faced by the carpet industry, in a meeting here on Monday.

During the meeting, PCMEA Chairman Usman Ghani, Senior Vice Chairman Riaz Ahmed highlighted their major issues including six per cent duty drawback notiUication, issued by

the Ministry of Textile, and matters pertaining to holding of Pakistan Hand-knotted Carpet Exhibition 2017 at Lahore, sponsorship of PCMEA delegation to China, release of funds for promotion of hand-knotted carpets and inclusion of handmade carpets in the Free Trade Agreement (FTA) with Turkey and China.Federal Textile Secretary Hassan Iqbal promised that the PCMEA suggestions for six per cent duty drawback notiUication would be thoroughly checked and they would get a positive feedback by the ministry. As far as Pakistan Hand-knotted carpets exhibi-

tion 2017, release of funds within time are concerned, he added, these would also be taken up for discussion on priority. About the issue of sending the PCMEA delegation to China, which had been refused by the Trade Development Authority Pakistan(TDAP), he would also look into the matter. He said he would try to offer an alternative so that PCMEA’s participation in the Domotex Shanghai 2017 was not suspended. About release of fund for promotion of hand-knotted carpets, he said that he would make all-out efforts to help out the carpet industry very soon.

LDA invites engineering firms for four projects LAHORE

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he Lahore Development Authority has decided to launch four mega development projects in the city at a cost of Rs13 billion and invited applications for pre-qualification of firms for the execution of the plan. The projects include construction of 13-km Sharaqpur Bypass from Mohlanwal to Jaranwala Road near Sharqpur at a cost of Rs6bn and construction of a road from Expo Centre (Johar Town) to Ring Road (parallel to Canal Bank Road) worth Rs3.5bn.

A sum of Rs2.5bn will be spent on the construction of another road linking Expo Center to Khayaban-iJinnah and Bedian Road while Rs1.1bn have been set aside for an adjoining approach road. The LDA has invited applications for pre-qualification from the engineering firms and contractors registered with Pakistan Engineering Council (PEC) in the category “C-A” for these projects

by March 24. The relevant experience, past performance, capabilities with respect to personnel, equipment/plant, financial position, appropriate management capacity and specifically, construction of such nature of mega projects on the credit of firm shall be the criteria for pre-qualification under the Punjab Procurement Rules 2014.

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cement sales inch down for first time in fY17 LAHORE

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hough cement consumption grew in the domestic market in February, overall sales of the industry edged down for the Uirst time in the current Uinancial year in the wake of a massive 46% decline in exports. According to latest data, cement consumption in February 2017 totalled 3.435 million tons,

down 0.41% compared to the consumption of 3.449 million tons in the corresponding month of previous year. Transnational initiative: China invites Britain to Silk Road summit Domestic consumption in the month stood at 3.181 million tons, up 6.69%. Of this, 2.580 million tons were sold by mills based in northern parts of the country whereas 0.601 million tons were marketed by southern mills.

Exports in February 2017 slumped

to 0.254 million tons, down 45.69% from shipments in February 2016. In the Uirst eight months of Uinancial year 2016-17, cement manufacturers sold 26.339 million tons with a year-onyear growth of 6.36%. In the period, domestic consumption rose 9.12%, but exports fell 8.54%. In the north, cement consumption during Jul-Feb FY17 increased 8.26% whereas in the south it rose 13.15%. In contrast, exports from the north fell 2.98% compared with a decline of 18.21% in ship-

ments from the south. “Clinker and cement are being manufactured in Pakistan and are abundantly available; it is surprising that the list of locally manufactured goods, notiUied by the Federal Board of Revenue vide Customs General Order No 11 of 2007, does not include cement,” a spokesman for the All Pakistan Cement Manufacturers Association said in a statement. On the other hand, he said, a lower customs duty of 10% and 20% was imposed on the import of clinker and cement

and due to cheap energy cost in neighbouring countries, low-quality cement was being dumped in Pakistan. He underlined the need for increasing the customs duty to 35% in an effort to support local manufacturers. Apart from this, imports should not be allowed until exporters register themselves with the Pakistan Standards and Quality Control Authority (PSQCA) and it certiUies the quality of cement, as being done by India and all other importing countries.

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PESHAWAR

nADir kHAn

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odal Customs Collectorate Peshawar (MCCP) made a total of Rs1413.73 millions revenue collections in February 2017 against Rs2274.27 millions of February 2016 with total difference of minus Rs860.54 million rupees while the difference in percentage was minus 38.08 percent.

According to statistical section of Peshawar Customs House during the month of February Rs513.17 million collected under the head of customs duty against collection Rs541.55 million of February 2016. The total difference in this sector was recorded minus Rs28.38 million while the difference in percentage was minus 5.14 percent.

In head of sale tax on import, the house collected 373.39 million as compare to 377.73 of February 2016 having difference of minus 4.34 million while the difference in percentage was minus 1.11 percent.

Likewise in head of sale tax levied as federal excise duty (FED) on palm oil, the house collected Rs171.52 million in February 2017 against Rs164.22 million of February 2016.

The difference in percentage was 4.45 percent while the difference in rupees was noticed Rs7.30 million.

In term of federal excise duty (FED) on imports the house collected Rs15.55 million in February 2017 against the previous year of

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Wednesday, March 8, 2017

this month which was 21.34 million with difference of minus Rs5.79 million and the difference in percentage was minus 27.1`3 percent. In head of withholding tax (WHT) the house collected Rs282.11 million against the collection previous year of this month which was Rs1124.70 million with total difference minus 842 million rupees while the difference in percentage minus 74.92 percent.

The overall performance of the house badly affected due to the ongoing tension the border.

The closing of Torkham crossing points has badly affected the transit trade including export and import from Afghanistan.

Meanwhile, These views were expressed by by Qurban Ali Khan Collector Model Customs Collectorate (MCC) Peshawar while talking with Customs Today during an exclusive interview. Qurban Ali said that following the anti smuggling measures at international borders the Collectorate collected revenue of Rs1.33 billion through seizers of smuggled items during initial six months (July to December) FY16-17.

The collector said that MCC have shown an increase of Rs681.7 million in the value of seized goods during the corresponding period of Uinancial year (July-December) 201516 adding that in January FY-16-17 the Collectorate following the anti smuggling measures at border collected revenue Rs290.066 million through seizers of 75 vehicle including offending and non customs paid vehicles. Collector Qurban Ali said that after the implementation of border measure the

performance of ASO Peshawar become outstanding as it collected Rs.253.436 million through seized smuggled goods and by impounding 51 offending and 24 NDP vehicles during the month of January FY16-17 adding that Collectorate collected revenue of Rs.1567.95 million during Uirst 07 months of July to January FY16-17 under head of anti smuggling activity to seized various kind of smuggled goods and vehicles.

toms t, cus r o p on im as e tax l a illion s m f o 9 3 d . a ry in he rs 373 ebrua d f e f t o c e 3 rs coll 77.7 minus o rs 3 f t o e r e a c e in comp eren erenc  ing di i v d a e h t 2016 hile th .11 percen ion w l 1 l i s u m 4.34 s min ge wa a t n e perc

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Founder & Chairman Zulfiqar Ali Editor rahil Yasin editor@customsbulletin.com.pk For advertising & subscription marketing@customsbulletin.com.pk www.customsbulletin.com Phones: 042-35781643-4, Fax: 042-35781645 Address: 627, Siddiq Trade Centre, Gulberg, Lahore

eDiToriAL

Disparity in household income

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

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

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

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

industrial park at pSM A

LAHORE

Dr AfTAB AfZAL

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ccording to newspaper reports, the government has decided to allocate 1,500 acres of Pakistan Steel Mills (PSM) land to set up an industrial park as part of the ChinaPakistan Economic Corridor.

The steel mills, set up with the help of former USSR, is the jewel of the nation and an asset, but it has become a victim of political expediencies. Due to rise of centrifugal forces in the absence of a firm writ of the government, the asset has now turned into a liability, which consumes billions of rupees taxpayers’ money annually. Earlier during

the Pakistan People’s Party government, an effort was made to sell it allegedly at throwaway prices, but the Supreme Court intervened and stopped the sale process. Now the government has decided to set up an industrial park and the prime minister has reportedly approved the allocation of land. However, there are several legal and constitutional liabilities which needed to be fulfilled before going ahead for the new venture.

Reports suggest that the prime minister could take up the matter with the Privatization Commission. However, modalities are needed to be worked out and finalized. Earlier, Finance Minister Ishaq Dar had promised with the International

Monetary Fund that a new board of directors will be appointed for the mills in professional manners, but currently only four members of the board are on board out of 12.

The mills is the largest industrial complex of the country, but incurs billions of rupees losses despite earning a handsome profit annually. But corruption, mismanagement and lack of will are the biggest hurdles which prevent its conversion into a profit making entity. The reports suggest that losses and liabilities of the steel complex reached Rs 200 billion during five-year term of the Pakistan People’s Party government until 2013. The total liabilities reached Rs 415 billion

by December last year. The

losses are continuing without any let up and the money spent on the unit is money lost. The land mafia and corrupt elements within the government and political elite have always seen the precious land as an easy bait to grab it. However, in a mess of corruption, it is hoped that a clean and constitutional procedure will be adopted to set up the industrial park. The government should reclaim the land grabbed by various private agencies and influential individuals who have no regard for the welfare of the nation. The economic corridor is a hope for the nation and this hope should not die down. The political interference should be immediately stopped in the mills.

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Banks lead the charge in Abu Dhabi trading DUBAI: Gains in banking and finance stocks helped to offset weakness from insurers in Abu Dhabi, which closed the week on a positive note. The benchmark Abu Dhabi Securities Market General Index rose 0.6 per cent to 4,596.39. The day’s top gainer was Invest Bank, which surged by 11.11 per cent to Dh2.30, followed by Abu Dhabi National Company for Building Material’s 8.3 per cent gain to 65 fils and National Takaful Company’s 6.4 per cent increase to 67 fils. Insurance providers Abu Dhabi National Insurance Company and Al Khazna Insurance led the decliners, with losses of 9.6 per cent and 4.4 per cent, respectively. The Dubai Financial Market General Index fell 1 per cent, stretching its losses to four consecutive sessions. The index was weighed down by Dubai Islamic Bank’s 9.3 per cent decline to Dh5.59.

Traders demand to bring 3.5% more people in tax net LAHORE

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usiness community has demanded of the Federal Board of Revenue (FBR) to bring those 3.5 people into the tax net who are registered with the department instead of crushing the existing taxpayers. Just because of abusing section 38-B of the Sales Tax Act, misuse of discretionary powers by the FBR officials, raids at business premises and bank account attachments number of taxpayers has been fallen this year to around 0.9 million as compared to 1.1 during the previous year. These views were expressed at a meeting, presided over by the La-

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hore Chamber of Commerce and Industry (LCCI) Acting President Muhammad Nasir Hameed Khan, here at the Lahore Chamber of Commerce & Industry. Former LCCI Presidents Mian Anjum Nisar, Muhammad Ali Mian, Former Senior Vice President Irfan Iqbal Sheikh, former Vice President Kashif Anwar and Awais Saeed Piracha, Zeeshan Khalil, Mian Zahid javed, Mian Abdul Razzaq, Tahir Manzoor Chaudhry, Mian Muhammad Nawaz, Javed Siddique, Muhammad Arshad Chaudhry, Nasira Taskeen, Tanvir Ahmed Sufi, Syed Mukhtar Ali, Abdul Razaq Bubber, Khawaja Khawar Rasheed, Ghulam Sarr Malik, Maqsood Butt and representatives of trade & industrial associations spoke in the meeting. They said that Section 38-B of Sales Tax Act, 1990 is being adversely used by the officials of tax department. They are paying visits to markets and godowns to unjustifiably harass the business people. They not only take coercive measures to raise unlawful tax demands without providing any supporting document but also carry all the available records with them.

Wednesday March 8, 2017

Chambers

real estate sector playing important role in economic development: icci I

ISLAMABAD

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slamabad Chamber of Commerce and Industry (ICCI) President Khalid Iqbal Malik said that real estate sector was playing an important role in the economic development of the country, but was facing problems due to imposition of new taxes. He called upon the government to look into the issues of realtors to facilitate the growth of this important sector. He was addressing a delegation of Islamabad Estate Agents Association (IEAA) that visited ICCI led by its President Rana Muhammad Arshad. Group Chairman Abid Khan, Senior Vice President Fakhar uz Zaman, Vice President Uzair Baloch, General Secretary Zulqarnain Abbasi and executive committee members of IEAA were also in the delegation.

Khalid Iqbal Malik said that business of thousands of people was associated with real estate sector but steps like imposition of new taxes and new method of property valuation have put this sector into slump.

He said due to this situation, many investors were leaving real estate

sector and cautioned that if government did not address its issues on urgent basis, unemployment would further grow in the country. Khalid Malik Senior Vice President and Tahir Ayub Vice President ICCI assured the IEAA delegation that Chamber would raise their issues at all relevant forums and would play its role for redress of their problems.

Speaking at the occasion, Rana Muhammad Arshad, President, Islamabad Estate Agents Association

highlighted various issues being faced by real estate sector business community. He stressed that 2% CVT should be received on the property price determined by FBR and not on covered areas basis. He demanded that CDA, Federal Government Employees Housing Society, Registrar OfUice and societies should receive CVT, advance tax and gain tax on property price determined by FBR and not on old price written in Uiles. He emphasized that

Dubai chamber of commerce eyes opening offices in iran, india

D DUBAI

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

Dubai Chamber, which was established in 1965 as a non-proUit public organisation to support and represent the emirate’s business community, currently has seven international representative ofUices in Azerbaijan, Ethiopia, Kurdistan, Ghana, Mozambique, Kenya and China. “We hope of course to open markets soon, if we could in Iran,” Al Ghurair said. “Iran would depend on circumstances,” he said, adding that

there was no set timeframe.

Sunni Muslim Gulf Arab states are wary of Shi’ite Muslim Iran’s power in the Middle East, especially regional powerhouse Saudi Arabia. But Gulf trade hub Dubai, which is home to tens of thousands of ethnic Iranians, has maintained strong trade and investment links to the Islamic Republic. After world powers and Iran reached an agreement in 2013 for Tehran to curb its nuclear activity in exchange for an easing of international sanctions, Dubai ruler and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, called on the international community to support the deal. (Read more here). The bulk of Iran’s imports from the Gulf Cooperation Council (GCC), which amounted to $37 billion in 2015, were exports

from the UAE that were imported via the ports of Dubai, according to local media reports. Iran accounted for around 16 percent of the UAE’s re-export market in 2014. Al Ghurair said that the chamber would move to open an ofUice in India “as soon as possible” and that it could happen this year. “We have targeted countries in the future like India, which is today one of the big economies near us,” he said. “We are interested in such nearby economies so that we cooperate with them in a big way that would achieve economic development to the region.” India is the third biggest exporter to the UAE, accounting for about 9.2 percent of the UAE’s imports. India is also a big importer of goods from the Gulf Arab state, importing around 14.9 percent of the UAE’s exports and around 8.7 percent of the UAE’s re-exports.

tax concessions should be given to tax Uilers and tax on bank cash transactions of Uilers should be eliminated.

He said after payment of CVT and advance tax, if a plot or property was not transferred to new buyer due to any reason, FBR should immediately refund such paid tax and make its tax refund process easier.

He urged that FBR should develop tax forms in Urdu so that taxpayers could Uill them easily.

rcci to organize icT Awards in April he Rawalpindi Chamber of Commerce and Industry (RCCI) is organizing third ICT Awards (Information Communication Technology Awards) in the first week of April.

Chairing a meeting of traders at chamber, Acting President RCCI Rashid Waien said that the Rawalpindi Chamber is the only Chamber of the country arranging such awards. Rashid Waien said that ICT industry is having market share of approximately $2.8 billion in Pakistan but no step is being taken from the government side to promote the said industry. He said that twin cities have 40 percent share of the total business of ICT in the country as many multinational companies have established their offices there. –CB Report

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IHC to hear tax matter filed by M/s Dewan Cement Limited Wednesday March 8, 2017

National Quetta customs impounds vehicles & goods valued rs 788.103m ISLAMABAD

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ISLAMABAD: Islamabad High Court will resume hearing of a tax matter filed by M/s Dewan Cement Limited challenging a recovery claim made by field office of Federal Board of Revenue (FBR).

IHC bench comprising Justice Aamer Farooq will hear the matter. M/s Dewan Cement Limited had filed the reference in which the company had challenged a show cause notice issued by the Large Taxpayers Unit, Islamabad. M/s Dewan Cement Limited had prayed the court that FBR office had issued a recovery notice to the company which did not hold lawful grounds.

LHc seeks explanation from fBr on registration of cases against ST evaders L

LAHORE

SAJiD nAwAZ

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he Model Customs Collectorate Quetta impounded worth Rs788.103million smuggled goods and vehicles during the first half of Financial Year 2016-17. The collectorate seized 324 non-duty paid vehicles valued Rs238million during said period.

The sources disclosed that the AntiSmuggling Organization (ASO) Quetta seized 1.141237 million litres of POL products i.e. petrol, diesel, kerosene and mobil oil valued Rs64million during above said period. The ASO Quetta seized 12 bottles of foreign origin liquor worth Rs0.103million. The ASO seized a huge quantity of foreign origin smuggled goods worth Rs486million. During FY2015-16, the ASO seized 636 NDP vehicles worth Rs575million whereas the ASO seized 3.182478million litre POL worth Rs196million. It also seized miscellaneous smuggled goods worth Rs1231million during the first half of FY2015-16.

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faisalabad fiA arrests notorious human trafficker he Federal Investigation Agency (FIA), has arrested a human trafficker namely Habibur Rahman son of Fiaz Mohammad during an action. The accused person belonged to Kamalia. Sources told Customs Today that FIA Deputy Director Syed Imam Zaidi and Sub-Inspectors Taimoor Haider and Abbas Bajwa conducted a raid on the whereabouts of the accused person who was running an illegal business of sending innocent people abroad after extorting amounts from them. The accused person extorted Rs7,90,000 from his cousin to provide him employment in Malaysia. The FIA also recovered original Pakistani passport and some copies of other passports from his possession.

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ahore High Court (LHC) sought explanation from Federal Board of Revenue (FBR) on registration of cases against the sales tax defaulters.

According to the details, Justice Shahid Jameel Khan heard the case Uiled by the Bashir and Sons Steel Mills in which the counsel of appellant Muhammad Mohayyudin Virk argued before the court that Federal Board of Revenue (FBR) has started the registration of cases against the sales tax defaulters.

In this regard the same has been registered against Bashir and Sons and under the sales tax law Federal Board of Revenue (FBR) cannot register the case against any defaulter.

He prayed before the court for reg-

istering sales tax fraud case by the FBR against the sales tax defaulters.

After hearing the case Lahore High Court (LHC) sought the expla-

nation from the Federal Board of Revenue (FBR) about the laws before the court. The court also sought the written explanation from the

Federal Board of Revenue (FBR) regarding a case of Rs 40 million against Bashir and Sons steel mills on 10 March 2017.

collector takes notice of delayed clearance at kicT

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KARACHI

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ollector Model Customs Collectorate of Appraisement West Dr Farid Iqbal Qureshi has taken notice of the delayed clearance of consignments at Karachi International Containers Terminal (KICT) and directed the additional collectors and deputy collectors to take actions against those ofUicials who are involved in delaying the examination and assessments of the imported consignments.

According to details, a delegation of the importers and traders met Mr Qureshi at his ofUice and informed him about the issues and problems being faced by the importers at the terminal during the examination and assessment of imported consignments. The importers were of the view that the examination and assessment ofUicers at the terminal were adopting delaying tactics, which is ultimately increasing the cost of doing business as the they have to pay extra

charges in terms of demurrage and detention charges. The Collector Appraisement West assured the importers’ delegation that their grievances would be redressed

shortly adding that the Collectorate would ensure best possible facility to the trade according to rules and regulations. Subsequently, the Collector-Dr Farid Iqbal Qureshi held a

meeting of the additional collectors and deputy collectors and asked them to ensure smooth Ulow of clearance of the imported consignments at terminal.

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Customs Preventive foils bid to smuggle 1kg heroin at Karachi KARACHI: In a prompt action, a team of Customs Preventive has successfully recovered 1 kilogram heroin from the possession of two passengers at Karachi airport. The market value of the drug in international market is Rs 10 million.

According to details, in pursuance of a tip-off, the staff of the Pakistan Customs Preventive intercepted two suspects for search and demanded travel documents from them for verification.

During the search, the officers found suspicious material in bags of the passengers. The passengers were taken to the customs area where a complete search was carried out.

The officers found heroin from the luggage of the passengers named Imran and Majid.

Anf recovers 13kg heroin from bus stand in Lea Market KARACHI

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he Anti Narcotics Force (ANF) has recovered 13 kilograms of heroin during a raid at Lee Market bus station. The sources informed Customs Today that the recovered heroin was concealed in 3x cartons of the stuff toys which weighted 13 kilograms and the value of the recovered heroin worth millions of rupees in international market Sources said that a team of Anti Narcotics Force (ANF) on the tip of higher authorities conducted a raid at the Lee Market bus stop and intercepted a passenger bus of Gul Brothers Coach Service and con-

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ducted a search. During the search of the passenger bus the team of the Anti Narcotics Force (ANF) during checking of the stuff f toys recovered different packets of heroin. The case has been registered against the syndicates and the officers of the Anti Narcotics Force (ANF) has started conducting raids in various areas of the province to apprehend the syndicates involved in the crime whereas further investigation is under progress. Anti Narcotics Force here on Wednesday raided a bus stand in Lea Market area and recovered 13 Kilograms heroin, concealed in cartons containing toys. According to ANF officials their team, on a tip off, raided the site used as terminus by Gul Brothers Bus Service in Lea Market, a major hub of inter-city bus service. During the raid high quality heroin was retrieved, they said mentioning that case has been registered against the involved group of drug mafia. Efforts are underway for the arrest of culprits, said the officials.

National

chairman kpT inaugurates online pension system C

KARACHI

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hairman Karachi Port Trust (KPT) Vice Admiral (r) Shafqat Jawed HI (M) inaugurated online system to transfer pension directly in the accounts of pensioners.

According to the details, Karachi Port Trust (KPT) took a bold initiative to facilitate its pensioners through commissioning an online transfer system to transfer pension directly in the accounts of the KPT employees.

The facility was inaugurated by Chairman KPT Vice Admiral (r) Shafqat Jawed HI (M) in the Pension OfUice at KPT Head OfUice building, while pressing button of the system, in presence of General Manager Finance Nazeer Ahmad Seehar and other top management of KPT. The new facility is a one window operation and has abolished the old system of payment through Pension Books. Chairman KPT Vice Admiral Shafqat Jawed, while speaking on the occasion said that the new system will enable the KPT to online transfer pension to the individual bank account of each pensioner whether they are stationed in

Karachi or in other cities of Pakistan.

Every month they will be able to draw out pension from their bank account just like any other amount through their ATM cards, he added.

While making comparison with the old system, the Chairman Shafqat Jawed said that the KPT has more than 7,000 pensioners who had to come to KPT to initialize their pensions and the pension was granted manually to the Pensioners while stamping on their Pension Books which was tedious

Wednesday March 8, 2017

and time consuming and the pensioners living in cities other than Karachi had to face more problems. He stressed on providing easy facilities to pensioners who have served KPT. Highlighting more on the newly adopted system, the Chairman KPT said that it eases the respected pensioners of KPT as they now are no more required make lines in front of the pension cell office which was extremely tough for the pensioners in hot summers.

customs Tribunal puts off hearings of 10 important cases LAHORE

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he Customs Appellate Tribunal Bench-II, comprising Judicial Member Omer Arshad Hakeem and Technical Member Imran Tariq, heard 10 important cases on Thursday and adjourned all of them until the next hearing. Customs Appellate Tribunal heard cases including Azmat International versus customs Lahore, Inam Traders versus customs Lahore, Muhammad Jameel versus Directorate of Intelligence and Investigation Faisalabad, Hussain Trading versus customs Faisalabad. On Thursday, Customs Appellate Tribunal heard cases of Muhammad Asgher versus customs Lahore, Fatima Fertilizers versus Post Clearance Audit (PCA) Lahore, Jumma Khan versus Directorate of Intelligence and Investigation Multan. Furthermore, the tribunal heard the cases of Sitara Textile versus customs Lahore, Fatima Fertilizers versus Post Clearance Audit (PCA) Lahore, Sitart Textile versus customs Lahore and Dildar Jani versus Directorate of Intelligence and Investigation Lahore. In all the cases, counsels for appellants and recipients appeared before the court and submitted arguments.

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Dg Valuation issues fresh values of low end wrist watches

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KARACHI

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he Directorate General of Customs Valuation issued the reference values for low end brands wrist watches.

According to details, the Directorate General is populating Valuation Database Values for different items wherein it has been observed that declarations are of wide range and do not correctly reUlect values of the items as traded in the international market. During the scrutiny of previous clearance data, it was observed that low end brands wrist watches falling under PCT heading 9102.1900 and 9102.2900, are be-

ing assessed at different values and certain transactions are on very low side. Sources said that the Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of

declarations. Online prices were also obtained to corroborate the Uindings of the market surveys. The Directorate General found that the VDB values of low end brands wrist watches are metal body with artiUicial leather strap

China origin US$4.50 per piece, metal body with metal chain China origin US$8 per piece, metal body with plastic chain China origin US$3 per piece, plastic body/chain China origin US$1.50 per piece. Above values are not applicable on known brands like Casio, Citizen, Roamer, Alba, Seiko, Omax, Onyx, Westar, Favour Luba, Rolex, Rado, Calvin Klein (C.K), Tissot, Titan Raymond Weil, Swatch, TahHeur, Cartier, Baunce & Mercier (B&M), Sonex, Longines, Forever2l, Prestige, etc. Valuation Database values must serve as a risk assessment tool which may be used along with other risk tools to assess potential risk regarding the truth or accuracy of the declared Customs value for imported goods.

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New Zealand dairy exports slips down 9.4% Wednesday March 8, 2017

World

WELLINGTON: The latest export figures from New Zealand show that the quantity of dairy commodities placed on international markets remains well below last year’s level despite a lift in prices.

According to the New Zealand statistics office, the country’s milk powder exports were down 9.4% in volume in January compared with the same month last year. Butter shipments fell by 20%. The recent lift in prices means that the value of dairy commodities exported by New Zealand rose by 5.4%. This was evident in the milk powder trade to China, which fell by 1.7% in volume but rose by 19% in value. “The recent rises in the value of dairy shows exporters are getting a better price for their milk powder exports than they were at this time last year,” international statistics senior manager Daria Kwon said.

Japan’s customs seizes 1501kg philippines SSS reports 8.34% increase in revenue stimulants, 3.6 percent up MANILA

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apan’s customs authorities seized a record 1,501 kilogram of stimulants in 2016, up 3.6% from the previous year, the Finance Ministry said.

The seized stimulants were valued at some ¥105 billion at the street price, according to the ministry. Stimulants accounted for 90 percent of the total illicit drugs seized. The surge in stimulant smuggling is a matter of serious concern, a ministry ofUicial said. The average amount of stimulants seized per case increased 2.8-fold to 14 kilograms, indicating smuggling attempts were becoming larger in scale.

Meanwhile, Japanese stainless steel scrap imports gained signiUicantly by 12 percent to 1,00,911 tons during last year as compared to 89,951 tons imported in 2015, as per

S korea raises its demand for philippines’ banana outh Korea will import more Cavendish bananas from the Philippines this year to satisfy the increasing demand of Korean consumers for it, according to Agriculture Secretary Emmanuel F. Piñol. Piñol said South Korea needs about 35 million boxes more of Cavendish bananas valued at $280 million (P14 billion). The 35 million boxes of bananas would be equivalent to 455,000 metric tons (MT).

“In my meeting with Dole South Korea [Dole Korea Ltd.], they [Dole Korea Ltd. officials] said South Korea needs about 35 million boxes more of Cavendish bananas from the Philippines,” he said in a recent interview with reporters. “In fact, they have to import from Ecuador and Guatemala just to fill up the shortage. But South Korean banana consumers prefer Philippine bananas,” Piñol added. –CB Report

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the latest Uigures released by the Japanese Ministry of Finance (MoF).

According to the ministry, South Korea was the biggest exporter of stainless steel scrap to Japan during 2016 and which accounts 49 percent of Japanese total imports. Japan imported 49,354 tons of stainless steel scrap from South Korea last year,

down as compared 51,624 tons in 2015. Taiwan was the second biggest stainless steel scrap exporter to Japan during 2016 with 21,946 tons and third largest exporter was United States with 13,481 tons. The other major stainless steel scrap exporter to Japan during last year were Hong Kong.

South African revenue Service to join hands with global tax initiative

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outh African tax collectors will be sharing taxpayers’ revenue and tax information with their counterparts in more than 50 countries by September.

The South African Revenue Service (SARS) announced its commitment to the automatic and reciprocal exchange of tax information with authorities in more than 50 other “jurisdictions”. This will be under the Organization for Economic Cooperation and Development, with

50 more countries expected to join the Common Reporting Standard (CRS) initiative by September next year. According to SARS, the development is part of an international initiative – under the auspices of the Global Forum on Transparency and Exchange of Information for Tax Purposes of which 139 countries are members – to assist revenue authorities around the world to ensure everybody pays the right amount of tax. –CB Report

he state-run Social Security System (SSS) reported that its revenues jumped to PHP160 billion as of the end of last November. In a news release issued today (Tuesday), the SSS said that based on its unaudited Uinancial statement, revenues for the January to November period last year grew 8.34 percent to PHP160.02 billion on the back of the PHP10.51 billion increase in member contribution and higher investment income.

The recorded end-November 2016 members’ contribution was 8.7 percent higher than the PHP120.77 billion recorded in the same 11-month period in 2015.

Broken down, members’ contribution grew to PHP131.28 billion investments and other income increased to PHP28.74 billion.

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“One of our goals for the pension fund this year is to expand our membership. We would also like to retain the current membership number as it comprises more than 82 percent of our total revenue income,” SSS President Emmanuel Dooc said. Expenditures for the January to November period in 2016, likewise, increased by 18.39 percent to PHP131.06 billion from the PHP110.70 billion recorded in 2015 amid the 25.46 percent increase in disbursements in retirement beneUits. Expenditures for retirement, death and disability stood at PHP72.56 billion, PHP36.21 billion and PHP4.17 billion, respectively. Disbursements for maternity were recorded at PHP4.84 billion and for funeral grant, PHP3.3 billion. Those for sickness stood at PHP2.08 billion; medical services at PHP12.99 million; and rehabilitation services at PHP1.48 million. Expenses in the January to November 2016 period pulled the net revenue for the 11month period last year to drop 21.74 percent to PHP28.96 billion from the PHP37 billion the year before.

Bumi resources swings to profit in 2016 ndonesia’s largest coal producer by volume Bumi Resources booked $100.6 million in net income last year, a huge swing up from $2 billion in net losses in 2015, having taken advantage of lower production costs and a higher coal price as well as improved its energy efUiciency last year.

“We were able to minimize production costs last year by not drilling too deep [to extract coal] since we had so many reserves already,” Bumi Resources president director Ari Saptari Hudaya told reporters at a press conference on Thursday (23/02).

The miner currently has 2.2 billion

metric tons of coal reserves and 12.4 billion metric tons of coal resources.

Bumi’s sales volume went up 11 percent to 87.7 million tonnes last year from 79.3 million tonnes in 2015.

The thermal coal exporter produced 86 million tonnes of coal last year, up 6.17 percent from 81 million tonnes in 2015. The company expects to sell 96.3 million tonnes of coal in 2017. Despite higher production and sales, Bumi’s revenue fell 42 percent last year to $23.4 million from $40.5 million in 2015 since the company’s average coal selling price went down to $44.8 per tonne from $42.1 per tonne in 2015. –CB Report

Thailand’s Q4 growth less than expectation

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BANKOK

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hailand’s economy expanded less than expected in the last quarter of 2016 and the government left its forecast for growth this year unchanged, indicating recovery will remain a slow process.

Growth in October-December

was 0.4% from the previous quarter, on a seasonally-adjusted basis, below the 0.6% seen in an online poll.

The government revised July-September growth to 0.4%, from 0.6%.

On an annual basis, the economy expanded 3.0% in the Uinal quarter, matching the poll forecast.

The national planning agency, leaving its 2017 forecast at 3.0%4.0%, said expanding exports plus

higher crop production and state spending will aid growth this year.

But analysts are doubtful the Thai growth pace can be much higher than 2016’s 3.2%.

“We think growth in Thailand will disappoint,” Capital Economics wrote. It said the exports will be held back by “lacklustre external demand as well as waning export competitiveness” and called the outlook for

domestic demand “subdued”. The National Economic Social and Development Board, the planner, revised up its forecast for export growth this year to 2.9% from 2.4%.

Exports, a key growth driver, grew in 2016 for the Uirst time in four years, but Thailand faces expected protectionism and capital outUlow risks as the US Federal Reserve prepares to hike rates this year.

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Finland’s economy stabilizes in Q4

World Customs

HELSINKI: Finland’s economy stabilized in the three months ended December, after expanding in the previous quarter, preliminary figures from Statistics Finland showed today (Wednesday).

On a seasonally adjusted basis, gross domestic product showed no variations in the fourth quarter from the previous quarter.

In the third quarter, the economy had grown 0.6 percent, which was revised up from a 0.4 percent rise reported earlier.

On the expenditure side, private consumption edged up 0.1 percent over the quarter and public consumption expenditure climbed by 0.6 percent.

italian firms seek potential growth in uAe taly remains the UAE’s third largest trade partner in Europe with shared interests in political and economic cooperation, despite the decline in Italian exports to the country last year attributed to unfavourable crude oil price trends, Valentina Setta, ConsulGeneral, Italian General Consulate. “Bilateral relations between Italy and the UAE are excellent and this was confirmed by the recent visit of our Minister of Foreign Affairs Angelino Alfano, who was received by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation,” she said. The visit took place on the sidelines of the first UAE-Italy strategic dialogue session that aims to enhance cooperation across several fields. Setta added that Italy sees opportunities for growth in the UAE market and hopes that the upcoming Expo 2020 will add a boost to relevant sectors. –CB Report

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poland’s imports from ukraine fall oland and Moldova are currently far ahead of Ukraine when it comes to the export of fruits and vegetables.

Polish shipments annually give the country $2.5 billion in revenue, while the value of Ukrainian exports of the same products is 10 times smaller, only $250 million. This was reported by the economist of the investment department of FAO, Andrey Yarmak, noting also that Ukraine has almost three times more farmland than Poland. “Even the smaller Moldova has also slightly surpassed Ukraine on this indicator, and the gap will only grow. After all, over the past 5 years, Moldova has increased its exports by 64%, while Ukraine’s have been reduced by 23%,” stated Andrey Yarmak. According to him, the investments in marketing have become the main advantage of Moldova and Poland over Ukraine in the fruit and vegetable market. –CB Report

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philippines Bureau of customs seizes fake cigarettes

MANILA

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hilippines Bureau of Customs (BOC) agents seized P2 billion worth of fake cigarettes in Uive warehouses at the San Simon Industrial Park in Pampanga.

According to details, the fake Mighty and Marvel brand cigarettes were already packed in boxes. The cigarettes also had fake stamps and were all identical, the source said. The warehouses were located in different blocks within the industrial park.

He could not immediately reveal the identities of the warehouse owners and whether anyone was arrested in the raids.

Original Mighty cigarettes are manufactured by Mighty Corp., founded in Manila in 1945, while the Marvel brand, although originally from the US, is also made in the Philippines.

In November last year, similar raids were conducted by the BOC in Pampanga, Bulacan and Pangasinan where some P1 billion worth of fake cigarettes of known brands and manufacturing equipment were also seized.

Agents of the BOC and the Bureau of Internal Revenue (BIR) also conducted another raid yesterday morning on a warehouse of Mighty Corp. in General Santos City and seized cigarettes with fake tax stamps. Customs Commissioner Nicanor Faeldon ordered the composite team led by Christopher

Degano to raid the Mighty Corp. warehouse inside the compound of Sunshine Cornmill Corp. at Arradaza St., Barangay Lagao, General Santos City.

“We cannot give you yet the details of this operation as we are given permission by the higher ups … but surely we are in GenSan now to enforce this mission order given to us by commissioner Faeldon,” said BOC investigator Irumina Alvaira. Customs police commander Zaidona Maulana told The STAR that they had padlocked the warehouse with the cigarettes after they found the firm’s alleged use of fake tax stamps on their cigarettes.

“After our inventory in the few days, they will be possibly charged by the BIR for not paying their sales tax,” Maula said.

Wednesday March 8, 2017

uber pays VnD 30 billion in taxes uring an online discussion about how to deal with new business models held by Vietnamnet News on February 20, Nguyen Quang Tien, director of the General Department of the Taxation’s Department of Tax Reform and Modernisation, said Uber had paid VND10bn (USD438,000) of VAT and corporate income tax. According to the Ministry of Transport, it’s still unclear whether to classify Uber as a transport operation or transportation technology.

However, Tien said as a management agency, they must make decisions and Uber generated revenue in Vietnam so they must pay taxes. Tien raised the examples of individuals that had earned huge profits with the Bitcoin or Google search service providers in Vietnam that pose legal challenges to the taxation department as such cases haven’t been regulated by the law. But most of them voluntarily paid taxes. Le Hoang Minh, vice head of HCM City Department of Transport said there were about 4,000 Uber taxis in Vietnam and VND1bn (USD43,800) profits sent to Netherlands each day. After that, the profits are divided and sent to Vietnamese partners.

This is different than the contracts which state that Vietnamese partners keep 80% of the profit. Last year the Ministry of Finance has issued a new tax plan for Uber taxi service after its previous rule requiring drivers to pay tax on behalf of the company proved unpopular. –CB Report

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greek agricultural exports rises in 2016

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ATHENS

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ruit and vegetables (fresh and processed) exported by Greece in 2016 generated three times more revenue than oils and fats, four times more than dairy and seafood and many more times that of other agricultural products, according to an analysis carried out by the Association of Greek Fruit, Vegetable and Juice Exporting Companies, According to data from ELSTAT processed

by the Association, Greece received a total of 1.9 billion Euro from the sale abroad of all fruits and vegetables (fresh and processed) in 2016, while the export of oils and fats (including olive oil) generated 681.3 million Euro, seafood (Uish and Uish preparations) 653.5 million Euro and dairy and eggs 592.85 million Euro,” as stated by INCOFRUIT-HELLAS special adviser, Georgios Polichronakis.

He pointed out that, as regards the export of agricultural products, there has been an overwhelming su-

periority of fruits and vegetables and their preparations, whose export value accounts for 32% of the total generated by all agricultural exports. The trade surplus in fruits and vegetables in 2016, amounting to 1.2 billion Euro, fully offsets the trade deUicit of “meat and preparations” (EUR 1.024 billion), and the deUicit of “dairy products and birds eggs” (EUR 154.78 million).

Also worth noting is that the revenue generated by fruit and vegetables remains stable over time, without major Uluctuations, and with a

rising growth over the last 10 years, contributing decisively to the continuous improvement in the trade deUicit of Greek agricultural products. The trade deUicit of Greek agricultural products declined by 19.2% due to the 7% increase of exports and the 4.5% fall of imports in 2016 compared to 2015.

As for the fresh fruit and vegetable sector, exports in 2016 increased by 22.8% in volume compared with 2015 and the value increased by 11.1%, according to the latest data.

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FIA arrests notorious human trafficker Wednesday March 8, 2017

Lahore

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

According to sources of Customs Today, accused namely Rasheed Ahmad son of Saien Ditta arrested by the team on intelligence base information.

Sources said that accused Rasheed Ahmed extorted huge amount from different people by showing them golden dreams of their lucid future abroad. Sources told that FIA team also recovered different kind of medical certificates, stamps, fake visas and other travelling documents from the possession of the accused person.

no nation can progress without paying tax liabilities: omair

'well-to do people should come forward to help poor'

LAHORE

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o nation has ever progressed without paying taxes for the betterment of their national economy and country. We shall have to understand the importance of taxation and our liabilities as citizen.

This was stated by Muhammad Omair Khan, Assistant Commissioner Zone II, Corporate Regional Tax OfUice (CRTO) Lahore, while giving an exclusive interview to Customs Today. He said we want to improve our economy, we shall have to change our attitude towards taxation as a whole nation. Progress of the countries depends upon strong economy. Prosperity and survival of the national economy must be

fiA detains accused travelling on fake visa he Federal Investigation Agency (FIA) arrested an accused who was travelling from Lahore to Italy on fake documents. FIA sources said accused Andleeb Hassan was travelling to Italy from the Allama Iqbal International Airport when he was caught for having fake and bogus documents. On Departure at the Allama Iqbal International Airport by PIA, FIA arrested him on the charges of trafficking and fraud.

Earlier, FIA has also offloaded a number of passengers from a flight travelling on fake visas. During a preliminary investigation, the detainees revealed that they had acquired work permits after paying a huge sum of money to a travelling agent based in Lahore. Meanwhile, The FIA team has arrested a man for getting money from two persons on the pretext of sending them abroad.

According to the FIA spokesman, Muhammad Ghulam Mustafa, a resident of Sargodha. –M Imran Mehar

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stronger. Talking about the jurisdiction, Omair said he is currently looking after the charge of the Enforcement & Collection Units of Zone-II. Omair told Customs Today that he deals with private limited companies of huge quantum because small taxpayers’ cases fall in the jurisdiction of Regional Tax OfUice-II. Assistant Commissioner said Inland Revenue is the backbone of the country because Inland Revenue Service (IRS) generates revenue to run the country, so he is very happy while performing at theFederal Board of Revenue (FBR). Adding more, Omair said he faces various challenges every day, every morning starts with a new situation and new targets are assigned by the seniors where he learns more each and every day. At enforcement and collection, one has to rely not only on conventional techniques but also some innovative methods, he added.

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ollector of Customs Preventive ZulUiqar Younas has said that under the social corporate responsibility well-to do people should come forward to take part in welfare works.

He was addressing a gathering arranged by Customs Agents Association at the GT Road.

He said that it is also the responsibility of the rich people and corporate class to help the downtrodden segments of the society to spend a good life.

He added that helping the poor class of the society is remarkably great deed and the people who come forward to help the class are also praiseworthy. The function was held to give away the labors free of cost shoes and other items of daily

pcA detects duty, tax evasion of rs 567615 by M/s ioSo international

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irectorate of Customs Post Clarence Audit (PCA) has summoned M/s IOSO International in duty and tax evasion of Rs567615 on the import of tarpaulin. According to the details, the PCA Lahore observed that the import clearances data against HS Code 6306.1210 effected from various Model Customs Collectorate during the calendar years. 2012 and 2013 revealed that inadmissible concessions of sales tax and value added sales tax under the

SRO 1125()/2011 dated 31.12.2011, wrongfully availed on the import of tarpaulin i.e. sun shedding which is specifically excluded from that ambit of said SRO and hence was not entitled for such benefit under the said SRO. It has been observed that importer had imported various consignments consisting of tarpaulin and got it cleared under PCT heading 6306.1210 with inadmissible concession under SRO 1125(I/201 1, dated 31.12.2011. –M Hayat

usage to help the manual workers.

Additional collector Amir Rasheed, Deputy collector Asma Bahir, Agha Iftikhar, Customs Agents Association Lahore President Masood Alam Butt, Farooq Hassan V.P.

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Mirza Qasim Bagh and other were present on the occasion. On the occasion Akhwat Clothes Bank also distributed cloths and other daily usage items among the manual workers.

customs Appellate Tribunal hears 8 cases he Customs Appellate Tribunal division bench-II comprising Judicial Member Omer Arshad Hakeem and Member Technical Imran Tariq heard 8 cases and adjourned all the cases until the next hearing. The Customs Appellate Tribunal adjourned the hearing of 8 cases which includes M/s Uch Power versus directorate Multan Unit Sadiqabad, Customs Lahore versus Sami Ullah, Ahsan Mehmood versus customs Lahore.

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

Traders versus customs Lahore.

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

collector Adjudication summons owner of nDp vehicle

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LAHORE

M HAYAT

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ollectorate of Customs Adjudication Customs House, Nabha Road, has summoned party in illegally imported car Mark X seizure. It has been reported by the Assistant Director, Directorate of Intelligence & Investigation-FBR,

Range OfUice, Gujranwala received credible information about some non duty paid vehicles which plying of roads without legal documents. The staff of Directorate of Intelligence & Investigation-FBR, intercepted a Toyota Mark-X displaying registration plate number ACE-166-ICT near Mandiala Morr, G.T. Road, Gujranwala.

The occupant of the vehicle iden-

tiUied himself as Zahid Mehmood son of Bashir Ahmad. On demand, he could not produce any documentary evidence regarding legal import or lawful possession in respect of the recovered vehicle. Therefore, the said vehicle was detained under Section 2kk of the Customs Act, 1969 read with Section 17 ibid and SRO 486(D)/2007 dated 09.06.2007 for further veriUication of its legal

status/import into the country/lab test of its chassis number etc.

During the course of investigation, Directorate of Intelligence & Investigation-FBR, Gujranwala requested the Excise and Taxation OfUicer, 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.

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Port of Vancouver to host more tours ANCOUVER: Citing the popularity of its tours in previous years, the Port of Vancouver said Monday it will host 10 public tours this year — two more than last year.

“We get great feedback and interest in our public tours, so much so that we’ve added four tours to our schedule since 2015,” said Ryan Hart, chief external affairs officer for the port, in a statement. “We appreciate the community participation and look forward to helping more people get to know their port in 2017.” The tours are a chance for the public to meet the industries that work at the port and get a better grasp on maritime trade and the global marketplace. The port ships and receives cargo including steel, grain and automobiles.

Merchants warn of port disaster, severe shortages erchants warned on Friday that should lorry drivers continue to refuse to pick up containers from Limassol port, there will be a shortage of goods in the market very soon with an impact on the economy worth millions of euros. The prolonged protest by truck drivers outside the container terminal over delays during loading and unloading at the port, led to the stacking of more than 2,000 containers, while the number is increasing by the day, Eurogate said on Friday. Eurogate assumed the responsibility for the container business at the Limassol port in late January. As negotiations between the lorry drivers, Eurogate and Transport minister Marios Demetriades continue, importers and exporters are not happy waiting for their merchandise to be

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delivered or picked up at the port.

Importers of foodstuff and pharmaceuticals warn that this could lead to shortages, while farmers say that the delay in the import of products necessary for the cultivation of their crops could hurt their production. “The continued refusal by truckers to cooperate by picking up goods from the port is irresponsible towards their business clients and by extension workers and consumers who will begin to experience shortages in the market,” the Cyprus Chamber of Commerce and Industry (Keve) said in an announcement. It added that the truckers’ behaviour was “unacceptable and with disastrous consequences” to the economy. –CB Report

Ports & hipping

warring factions in Yemen fight over strategic port WASHINGTON

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emeni government troops and Houthi rebels have been engaged in Uierce battles in and around a coastal town seen as a major smuggling point for arms used to supply rebels. In recent days, both sides have won and lost territory near the port of Mokha in what analysts and Yemen ofUicials see as a make-or-break Uight to sever a rebel supply line. Saudi and U.S.-backed government forces are convinced that Houthis rely on Iranian smuggled arms coming through maritime ports along the western shores of Yemen. “By taking Mokha, we deprive Houthis from the source where 40 to 50 percent of their smuggled arms are coming from,” Ahmed Saif Al Yafei, a Yemeni army commander, told VOA. The Trump administration, which is taking a hard line against Iran, is keen on stopping the Ulow of weapons from Iranian ships to

Houthi rebels. The White House sees the Iranian supply line as supporting terrorism. The New York Times reported last week that U.S. national security ofUicials considered sending U.S. vessels to intercept an Iranian military ship in the Arabian Sea that they suspected of carrying an arms shipment. They backed off because of operational concerns, the newspaper said, at least for the time being. “We are concerned about all of the weapons that

are smuggled in,” Michael Meyer, a U.S Central Command spokesman, wrote in an email to VOA. “Iran is supplying the Houthis with lethal aid including advanced countermaritime capability in contravention of U.N. Security Council resolutions.” U.S. Secretary of State Rex Tillerson on Thursday met on Yemen with counterparts from Britain, Saudi Arabia, the United Arab Emirates and Oman at a foreign ministers summit in Germany.

Wednesday March 8, 2017

Johor port teams up with pelabuhan indonesia ohor Port Bhd, a member of the MMC Group, has signed a memorandum of understanding (MoU) with PT Pelabuhan Indonesia IV (PELINDO IV) on several collaborations including a sister port partnership. The MoU will also pave the way for Johor Port to share its experience and expertise with PELINDO IV in port training services, consultation on container and conventional operations and collaboration on interport logistics services. “These operators (PELINDO IV and MMC Ports) hold various expertise in ports management and this collaboration serves as a catalyst that will spur further development and quality of our port operations, competencies and efficiencies alongside other international players,” said Johor Port chairman Datuk Seri Che Khalib Mohamad Noh. PELINDO IV managing director Doso Agung and Johor Port chief executive officer Shahrull Allam Shah Abdul Halim signed the MoU at Universitas Pattimura in Ambon, Indonesia, recently. –CB Report

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carey island to get mega port M

WASHINGTON

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alaysia on Sunday conUirmed the construction of a giant port in Pulau Carey, which would clash with plans for two big ports coming up in nearby Malacca.

In January, Malaysia’s Port Klang Authority (PKA) said it wanted to build a giant port on an island next to the country’s largest port. The RM200 billion (S$64 billion) project with its 13,000ha, is about 25 times the size of Singapore’s Sentosa Island.

On Sunday, Transport Minister Liow Tiong Lai said Malaysia will upgrade Port Klang to play the role as an Asean hub, hoping to ship more cargo originating from Indonesia and Thailand via Port Klang.

Port Klang – which is currently the world’s 11th busiest port – will also have a bigger role to play once the Carey Island port-industrial city

project covering an area of 100sq km, takes off, the Minister said. To bill the port as an important hub for Asean, it will have to see increased cargo from Sumatra, Indonesia and Thailand. Bigger ports will also be built in Carey Island to connect to Pulau Indah, to turn Port Klang into three major ports, with Westport, Northport and the Carey Island port.

Talks of building another port has been in the air in Malaysia for a long time, but it never materialised due to several issues.

Under the new plans, the Port Klang Free Zone (PKFZ) will see its expansion from Pulau Indah to Carey Island. Apart from being a port-cum-industrial zone, Carey Island, the Minister told the media on Sunday, was a new city in the making. Last year, Port Klang handled 13 million twenty-foot equivalent units (TEUs) compared to the 11.89 million TEUs last year. Ana-

lysts see little chance that a new port would draw clients away from Singapore, pointing out that the current ports in Johor, which are closer to Singapore, have not managed to make too big of a dent in Singapore’s port business.

Malaysia’s plans come at a time when the global container-shipment industry has reached a plateau. Critics also questioned the fact that having several Malaysian ports situated close to one another along the Malacca Strait could lead aggressive competition on the local scene.

Meanwhile, Bholat said he expects energy costs to operate the electric truck to be less than a third of a similar diesel-powered truck, with maintenance costs coming in at less than half. While IKEA has three diesel-powered jockey trucks in its local operation, Georgia Ports has 300 such vehicles on terminal,

making it easy to convince West Coast electric vehicle manufacturer BYD that this was a market to explore, Bholat said.

The demo vehicle a BYD Class 8 yard tractor – is expected to arrive the first of next month, spend a few weeks at IKEA, then move to GPA’s Garden City Terminal for a month.

Headquartered in Shenzhen, China, BYD Co. Ltd. is the world’s largest electric vehicle manufacturer, in both consumer and commercial/industrial vehicles, and a global leader and innovator in battery technology. The BYD Class 8 yard tractor utilizes the first battery specifically designed for vehicle electrification. With the company’s proprietary iron phosphate technology at its core, the truck, which is manufactured at BYD’s facility in Lancaster, Calif., is capable of providing 15 hours of operation between charges.

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ANF recovers 13kg heroin in raid at passenger bus KARACHI: The Anti Narcotics Force (ANF) has recovered 13 kilograms of heroin during a raid at Lee Market bus station. The sources informed Customs Today that the recovered heroin was concealed in 3x cartons of the stuff toys which weighted 13 kilograms and the value of the recovered heroin worth millions of rupees in international market Sources said that a team of Anti Narcotics Force (ANF) on the tip of higher authorities conducted a raid at the Lee Market bus stop and intercepted a passenger bus of Gul Brothers Coach Service and conducted a search.

Wednesday, March 8, 2017

CUSTOMS BULLETIN

chief collector north Sarwat Tahira to open customs welfare Shop today ISLAMABAD TAriQ DerYA

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arwat Tahira Habib, Chief Collector, Collectorate North Region, will inaugurate a Customs Welfare Shop of Model Customs Collectorate (MCC) Islamabad on Wednesday (8th of March). OfUicials informed Customs Today that consumer and other miscellaneous goods due shall be offered for sale at the shop.

The FBR instructed the Islamabad Customs that operating procedure for the welfare shop will be strictly followed. A four-member management committee will be constituted which will consist of additional collector (HQ) as president, deputy /assistant collector (HQ), state warehouse superintendent and Customs House officers.

Under the rules for the shop, all decisions of the committee shall be signed by the president and all other members. Goods shall be received by the Customs Welfare Shop from the Customs State Warehouses of the collectorate after payment of all government taxes, with a proper inventory to be prepared in duplicate.

All goods received by the shop

shall be duly entered in the stock book and ledger, and daily sale statement shall be prepared.

The sale shall be entirely against cash payment and credit

sale shall not be allowed under any circumstances.

Sale proceeds shall be deposited into the designated bank within 24 hours against the current account

in the National Bank of Pakistan (NBP) to be operated by the president of the committee constituted under this order and the next senior ofUicer by appointment of the com-

mittee. Earlier, Customs North Region Chief Collector Sarwat Tahira had inaugurated the welfare shop at the Model Customs Collectorate Peshawar.

eradication of corruption top priority of nAB: Qamar Zaman ISLAMABAD

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hairman National Accountability of Bureau (NAB) Qamar Zaman Chaudhry has said that eradication of corruption is top priority of NAB. He said this while chairing a meeting to review performance of operation division at NAB Headquarter here, said a press release.

NAB’s proactive Anti Corruption Strategy has started yielding positive dividends. NAB has signed MOU with China to oversee and ensure transparency in Pakistan China Economic Corridor Projects.

Qamar Zaman Chaudhry said that NAB has geared up to perform its national duty by adopting Zero Tolerance Policy to eradicate corruption from the country. He emphasized upon NAB ofUicers to double their efforts to arrest corrupt and recover ill-gotten and looted money of innocent people from corrupt and deposit them in the national exchequer.

He said that during the tenure of the present management, NAB has recovered 45 billion rupees in only two and half years and deposited in the national exchequer which is a remarkable achievement of NAB. He said that NAB during the last 16 years, has received about 326,694 complaints from individuals and private / public organizations. During this period, NAB authorized 10992 complaint veriUication, 7303 inquiries, 3648 investigations, Uiled 2667 corruption references in respective accountability courts and overall conviction ratio is about 76

percent. NAB has recovered Rs285 billion from corrupt and deposited in the national exchequer, he added. NAB’s prime focus is on cases of cheating public at large by fraudulent Uinancial companies, bank frauds, willful bank loan defaults, misuse of authority and embezzlement of state funds by Government servants etc. He said that the Uigures of complaints, inquiries and investigations are almost double as compared to the same period of 2015 to 2016. The comparative Uigures for the latest three years are indicative of the hard work being put in by all ranks of

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi

NAB staff in an atmosphere of renewed energy and dynamism, where Uight against corruption is being taken as a national duty.

The recent report of Transparency International also rated Pakistan in Corruption Perception Index (CPI) from 126 to 116 which is a great achievement for Pakistan due to Chairman NAB’s efforts.

The World Economic Forum and Mishal Pakistan according to Global Competitiveness Index of the World Economic Forum rated Pakistan from 126 to 122 this year which is great achievement of Pakistan due to NAB efforts.