Tuesday, 13 March 2018

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Karachi, Tue March 13, 2018

PESHAWAR

IRFAN BAHADUR

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ollector Customs Mohammad Saeed Jadoon has directed the customs staff at the Customs House Peshawar to curb the menace of Non-DutyPaid vehicles and goods through better surveillance. The collector customs said this while meeting with the customs ofPicers at his of-

Pice at the Customs House Peshawar on Friday. He also ordered the ofPicers to strictly observe the transfer of goods to their respective destinations.

The collector customs was informed about the revenue generated by different customs stations upon which he expressed satisfaction and said further measures should be taken to benePit the customs exchequer. The collector was apprised of the real situation on the border with Afghanistan and the issues being faced by the i m -

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porters and exporters about delay of consignments on the borders with Afghanistan. The collector customs remarked that implementation of the WEB OC service has been the need of hour and the importers/exporters should take proper care of the tools provided by the Federal Board of Revenue for the enhancement of trade facilities to the business community. The customs department has been working hard to dePine new tools for the ease of importers and exporters but they also need to cooperate with the customs authorities to eliminate the risk of causing loss customs exchequer losses.

Customs Islamabad posts 50 percent growth under all heads

Adjudication-II shows excellent potential by conducting actions

Customs ASO detains truck loaded with NDP goods

Canvas Water Discharge Hose’s Valuation Ruling No: 1264/2018 revised

Quetta Customs I&I non duty paid goods worth Rs32.78 million

MCC proved 50% increase under all the heads against an earmarked revenue | See pAge 02 |

Adjudication-IITahir Qureshi showed brilliant performance by taking actions | See pAge 03 |

Customs I&I anti smuggling squad during an intelligence based operation | See pAge 04 |

DG aluation has revised the customs values of Canvas Water Discharge Hose | See pAge 09 |

Customs I&I has seized huge quantity of smuggling items includes luxury vehicles | See pAge 16 |

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SC dismisses Sharifs’ plea for wealth tax reevaluation Turesday, March 13, 2018

ISLAMABAD: The Supreme Court has dismissed an application filed by the Sharif family seeking reevaluation of wealth tax on their shares in various companies.

During the court proceedings, counsel for the Federal Bureau of Revenue (FBR) informed the bench that the matter regarding wealth tax had already been finalised by the apex court back in 2001.

“The authorities have been collecting wealth tax as per the decision of the apex court,” he said, adding that the application held no substance.

Islamabad

customs Islamabad posts 50 percent growth under all heads

ISLAMABAD

ISLAMABAD

NAeem ULLAH tARIQ

tARIQ DeRYA

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ustoms Appellate Tribunal reserved decision of M/s Pakistan Telecommunication Company Limited’s customs reference and dated in office hearing of other cases during recent week. Member Technical Ziauddin Wazir heard the matter along with other cases involving Collectorate of Customs and Directorate General of Intelligence and Investigation, Islamabad. M/s Pakistan Telecommunication Comany Limited had filed customs reference against MCC. The bench reserved decision after hearing arguments in the case.

Meanwhile, the bench adjourned hearing on Khurram Zafer Nazeer Ahmed, and M/s Musa Ghee International’s cases filed against MCC; and M/s Waseem Autos and M/s Nisar Traders cases. M/s Waseem Autos and M/s Nisar Traders had filed cases against Collectorate of Customs and Directorate General of Investigation and Intelligence, Islamabad. The bench had dated in office hearing on cases filed b M/S Parts & Parts, M/S Chief Autos, M/S Aman Elahi, M/S Kohinoor Traders, M/S Saleem Silk Centre, M/S Five Star Trading, M/S Pakistan Royal Group and M/S Nayatel Private Limited.

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he Model Customs Collectorate Islamabad proved 50% increase under all the heads against an earmarked revenue collection target for the month of FY17-18.

According to details given by ZulPikar Ali Chaudhry, Collector Model Customs Collectorate (MCC) Islamabad, that, during above said period, the collectorate showed 20% increase under all the heads against a revenue collection under the same head during the same period of corresponding FY16-17.

The collector told CT that the collectorate received Rs1449.97million revenue of all the taxes against an assigned revenue collection target of Rs1026.04million during the month of February FY17-18 while it earned Rs967.57million under all the heads during the same previous period of February FY16-17.

It was added that the collectorate demonstrated 8% growth by assigning a revenue collection target under the head of Customs Duty (CD) for the month of February FY17-18 while MCC Islamabad posted 20% increase under the same head during February FY17-18 against the same corresponding period. The MCCI received Rs530.06million as CD against an earmarked revenue collection target of Rs490.59million

customs Appellate tribunal reserves verdict of reference filed by m/s ptcL

whereas it earned Rs441.97million under the same head during the same period of post FY16-17. The collector told the correspondent that, during February FY17-18, the MCC generated Rs607.76million of Sales Tax (ST) while it was assigned a revenue collection target of Rs313.19million. The Ccollectorate

collected Rs316.69million under the same head during the identical corresponding period. During the month of February FY17-18, the collectorate received Rs267.06million of Income Tax (IT) against an earmarked revenue collection target of Rs200.7million whereas the collectorate did Rs189.20million under

the same head during the same previous period of FY16-17. During the February, MCCI earned a revenue of Rs45.08million as Federal Excise Duty (FED) against an allocated target of Rs21.47million while it generated Rs19.70million as FED during the same period of corresponding FY16-17.

IHc sends back customs reference to AtIR to rehear case

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ISLAMABAD

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he Islamabad High Court on Friday disposed of the customs reference filed by M/s Fertilizers Private Limited with the directive to the ATIR to rehear the matter. The IHC bench, comprising of Justice Shaukat Aziz and Justice Mohsin Akhtar, had reserved the decision on the matter after hearing the final arguments. M/s Fer-

tilizers Private Limited had filed the case challenging an announcement made by the Appellate Tribunal Inland Revenue (ATIR) through which it had upheld the decision announced by the department’s adjudication pertaining to the show cause notice issued to M/s Fertilizers Private Limited for outstanding tax recovery. Through both references, M/s Fertilizers Private Limited had named Chief Commissioner Inland Revenue, LTU, Assistant Commission Inland Rev-

enue Withholding, LTU, Commissioner Inland Revenue (Appeals), LTU, and Federal of Pakistan through the chairman of the Federal Board of Revenue (FBR) as respondent in the case. The showcause notices had been issued for the tax year 2013 under the head of income tax under sections of the Income Tax Ordinance-2001. The appellant had prayed the court to direct the LTU not to recover the said amount and abstain from any coercive action in this regard.

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Regulatory duty: SHC disposes of identical petitions KARACHI: The Sindh High Court has disposed of two identical petitions pertaining to the regulatory duty which has been declared illegal by another bench of the same high court. The petitions were rejected by an appellate bench comprising Justice Munib Akhtar and Justice Mrs Ashraf Jahan. A counsel, appearing for the petitioner Jawwad Brothers and Hansika importers of food items and toiletries respectively, drew the attention of the court to its judgment in petitions challenging RD. The counsel sought interim relief as granted in the previous petitions which allowed release of the goods on deposition of dierential amount of duty and taxes with the Nazir of the SHC.

SHc orders customs to release cosmetic consignment

Tuesday March 13, 2018

Karachi

Adjudication-II shows excellent potential by conducting actions

KARACHI

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he Sindh High Court has ordered release of a consignment of cosmetics detained by the Custom Department. A SHC appellate bench earlier heard a counsel appearing for the petitioner Ashraf Taders. The counsel relied upon a case law known as Danish Jahangiri case and said petitioner/ importer is entitled to benefit of provisional release against payment of duty taxes (differential between value claimed by importer and assessed by customs). The bench later disposing of the petition ordered respondents to release the consignment as per law.

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Dg Valuation Surriya to revise VR No 773/2-15 on April 23 KARACHI

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he Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 773/2015 on April 23, 2018, it is learnt here. Surriya Butt said the department was reviewing suggestions from various importers to set new prices of stainless steel sheets, coils, and circles (secondary quality). She said some valuations issued in 2015 were being reviewed from the beginning. Moreover, the valuations will be set in view of the rising prices in the international market. Sources told CT that a petition was filed with the Customs Valuation in which change in prices stainless steel sheets, coils, circles (Secondary Quality) was requested. Sources further said Valuation Ruling No: 773/2015 was issued on November 27, 2015.

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KARACHI

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ustoms Adjudication-II Tahir Qureshi showed brilliant performance by taking actions against tax defaulters and issuing notices during the month of February. On source told Customs Today that the Customs Adjudication-II served a Pinal notice on a defaulter company named M/s Zarnageen Boutique and recovered Rs08million. M/s Zarnageen Boutique was involved in tax evasion.

The company imported different types of fabrics including imported silk and Banarsi thread and more on November 11, 2017 and used the wrong PCT heading. The consignment was cleared through Examiner Muneer Shaikh. After a careful investigation, the Customs Adjudication-II issued a Pinal notice to the company on Tuesday and cleared the outstanding amount of Rs4.12million.

Source said that another company M/s Taj Paints got cleared a consignment of chemicals (Used in manufacturing wall paint) on December 8 and evaded tax amount of Rs08million. After the investigation, the Customs Adjudication-II served a show cause notice on the company on January 29, but it failed to clear the outstanding tax amount.

The Collector Customs Adjudication-II issued a final notice to the company on February 12, 2018. Af-

ter receiving the notice, the company deposited Rs08million in favor of the Customs Department on February 27.

Meanwhile, The Customs Adjudication-II showed outstanding performance by taking actions against tax defaulters and issuing many notices during 26 days of the current month. Source told Customs Today that Customs Adjudication-II served a Pinal notice on a defaulter company named M/s Wajid Ceramics

the consignment was cleared through examiner muneer Shaikh. After a careful investigation, the customs Adjudication-II issued a final notice to the company and cleared the outstanding amount of Rs4.12million

pcA detects tax evasion by m/s Aslam medical

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KARACHI

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he Directorate of Customs Post Clearance Audit has detected tax evasion of duties and taxes of Rs 8.56 million by M/s Aslam Medical Accessories, it is learnt here. Sources told Customs Today that M/s Aslam Medical Accessories imported a consignment of various kinds of medical items and got it cleared from the Pakistan International Container Terminal Karachi

vide GDs on September 7, 2017 by paying the customs duty at 10 percent after claiming the benePits of the SRO 568/2007. However the subject items are correctly classiPiable under the PCT 2804.2547 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of ms-declaration of classiPication, the company evaded/short-paid Rs 8.56 million. The goods were cleared by Head Examiner Shahid Mian. Sources said the importer violated the provisions of Section 56 (4) of the Customs Act-1969, Section

11 & 16 read with Section 58 of the Sales Tax Act-1990 and Section 148 of Income Tax Ordinance 2001 punishable under clauses (258) and 185 of Section 148(1) of the Customs Act1969, Section 25 of the Sales Tax Act1990 and Section 58 of Income Tax Ordinance 2001 and Section 4-A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007 (Special procedures for payment of sales tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.

Importers on Saturday and recovered Rs6.58million from M/s Junaid Plastic Karachi. M/s Wajid Ceramics was allegedly involved in tax evasion. The company imported various types of ceramic accessories and other items on November 12, 2017 and got cleared through Examiner Waheed Khan, and used the wrong PCT heading. After a careful and long investigation, the Customs Adjudication-II issued a Pinal notice to the company.

pak rupee recovers against US dollar he Pak rupee on Friday recovered against the US dollar both in open market and interbank.

As per the local money market, the greenback shed 10 paisas in open currency market for buying at Rs111.85 for selling at 112.15. The dollar lost 10 paisas in interbank at Rs 110.30 for buying and Rs110.50 for selling.

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E-commerce great potential in Pakistan: VP UK-PCCI Tuesday March 13, 2018

Lahore

LAHORE: UK-Pakistan Chamber of Commerce and Industry (UK-PCCI) Vice President Amir Khawaja has said that e-commerce has great potential in Pakistan.

In a statement issued, he said there was a stiff competition for the new entrants and they needed to exhibit utmost professionalism in order to make their mark in the market.

Readymade garments worth $1.483b exported in seven months ISLAMABAD

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eadymade garments worth US$ 1.483 billion were exported from the country during Pirst seven months of current Pinancial year as compared the exports of the corresponding period of last year. During the period from July-January, 2017-18, exports of readymade garments grew by 13.93 percent as compared the same period of last year, according the data of Pakistan Bureau of Statistics.

About 22,160 thousand dozens readymade garments worth US$ 1.483 billion were exported during the period under review as compared the exports of 19,623 thousand dozen valuing US$ 1.301 billion of same period of last year.

Igp Sindh reviews security of cpec, non-cpec projects nspector General of Police (IGP) Sindh A.D. Khawaja chaired a meeting to review the affairs of Provincial Foreign Security Cell (PFSC) as well as security measures for the China-Pakistan Economic Corridor (CPEC) and non-CPEC projects. The meeting decided that the Home department Sindh will be recommended for extending the scope of the Special Protection Unit (SPU). It will also be recommended that the portpholio of DIG SPU should be changed as DIG Foreign Security who shall also be the chief of PFSC, said a statement issued here. The responsibilities of DIG PFSC will include the security of Chinese nationals affiliated with CPEC and non-CPEC projects and other foreigners, besides keeping in touch with district foreigners security cells. The AIG Operations will be the member of PFSC. –CB Report

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Meanwhile, about 62,528 thousand dozens of knitwear worth US$ 1.555 billion exported in last seven months, which were recorded at 60,550 thousand dozens valuing US$ 1.373 billion of same period of last year. During the period under review, about 215,202 metric tons of bed wear worth US$ 1.305 million exported as compared the exports of 206,905 metric tons valuing US$ 1.236 billion of same period of last year. According the data country earned US$ 454.537 million by exporting 113,049 metric tons of towels as compared the exports of US$ 449.998 million and 107,678 metric tons of same period last year,it added. It may be recalled here that textile group exports surged by 7.728 percent and was recorded at US$ 7.728 billion in last seven months as compared the exports of US$ 7.210 billion of same period of last year.

customs ASo detains truck loaded with NDp goods LAHORE

m HAYAt

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irectorate of Customs Intelligence and Investigation anti smuggling squad during an intelligence based operation near Shekhupura Road detained two trucks which were coming from Faisalabad and hearing towards Lahore. Sources told Customs Today that Director Customs Intelligence and Investigation Rubab Sikandar received credible information about some smuggling attempts. Customs anti-smuggling squad established a check post near Shekhupura Road and intercepted two truck which were owned by M/s Diamond Super Goods. During checking of these vehicles, the customs team recovered huge quantity of non duty paid tyres, cloth, mirrors, Plavor, heavy machinery, ball bearings.

collector preventive Faiz Ahmad transfers three employees

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ollectorate of Customs Preventive Collector Faiz Ahmad issued a notiPication according to which four inspectors of Customs Preventive are transferred to different places for new assignments.

According to notiPication Inspector Mohammad Naeem son of Mehraj Din who is currently performing his duties at PFC Wagha is directed to report at Airport TrafPic with immediate effect, while Inspector Manasib Ali Dogar son of Sardar Jamal Din who is currently posted at Customs

Headquarters is directed to report to Airport TrafPic. Inspector HaPiz Mohammad Mubashir son of HaPiz Mohammad Hussain who is performing his duties at Land Freight Unit (LFU) Wagha is directed to report for duty at Airport TrafPic with immediate effect. Inspector Muzaffar Hussain son of Barkat Ali who is currently performing his duties at Air Freight Unit of Allama Iqbal International Airport is hereby transferred to State Warehouse with immediate effect and until further orders. –CB Report

Customs team asked the drivers of vehicles to produce legal documents regarding possession and transportation of these goods but they remained failed to provide any legal documents in this regard. After their failure Customs ASO team seized all the goods and registered a case against the owners of non duty paid goods. The team which take part in the operation includes Superinten-

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customs tribunal sets aside order-in-original he Customs Appellate Tribunal has set aside an Order-inOriginal in an impounded container loaded with miscellaneous items. The appeal was Piled by M/s Pak Shaheen Cargo Service Private Limited against an Additional Collector Customs Adjudication Faisalabad. Muhammad Shabbir Gujar, Member Judicial Bench-II, heard the arguments from both sides and decided the case with remarks that the impugned order is set aside and the case is remanded back to the Deputy Collector Customs (Adjudication) Faisalabad to hear the parties and

NAB returns Rs9.21m to 35 affectees

N LAHORE

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ational Accountability Bureau Multan arranged a ceremony has to distribute cheques worth Rs9.21 million to 35 affectees including four of provincial government departments.

The ceremony was chaired by NAB Director-General Atiq-urRehman, who handed Rs4.4 million to General Manager (South) National Highways Authority. The amount was recovered during investigation against Rana Amjad Ali, former Land Acquisition Collector/ Assistant Commissioner Ahmedpur East and others. Similarly, Rs1.9 million were given to 31 af-

dent Saleem Ullah Khan, Intelligence OfPicer ZulPiqar Ali Dogar, Sohail Murtaza, Agha Sultan Haider and Ahtesham Naveed. It is also necessary to mention here that Director Customs Intelligence and Investigation Rubab Sikandar adopted a comprehensive strategy to curb smuggling attempts in the region and due to this strategy there is marginable decrease is being witnessed in the smuggling attempts.

fectees. The amount was recovered during investigation against Mian Naveed Aziz of Pak Mushroom project in Multan. The DG NAB handed over Rs1.43 million to Additional DG MEPCO Mian Nadeem, which were recovered during investigation against Saeed Ahmed Khan, ex-secretary WECHS Multan.

Rs1.2 million was given to Dr Lal Hussain, Botanist Agriculture Re-

decide the case afresh within 45 days. M/s Elite Enterprises imported a container from the UAE comprising miscellaneous items. At the arrival of the consignment at the Port Qasim Dry Port Karachi, a complete examination of the consignment was conducted and some illegalities were found by the customs team. The customs ofPicers also declared that the importer will be punished according to the bylaws.

Adjudication proceedings were culminated in the case and, after considering the facts, order was passed against the importer. –CB Report

search Station Bahawalpur, recovered in a case State Vs. Iftikhar Javed Stenographer/ ex-cashier Agriculture Research Station Bahawalpur. The DG handed over Rs0.2 million to Muhammad Nawaz Bajwa, XEN Western bar division Vehari, recovered in inquiry against Qanoongo, Patwari, SDO Irrigation Department Tehsil Officer Planning Vehari and others.

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Tuesday, March 13, 2018

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ollectorate of Customs Preventive inducted two more high speed FRP boats in its Pleet to enhance the capabilities to combat the menace of smuggling and stop illegal activities on the sea routes.

Sources told Customs Today, a handing over ceremony of two high speed FRP boats was held at Karachi Shipyard where high level government officials, a foreign delegation and Customs authorities were also present.

Address the ceremony, the chief guest of the occasion, Adviser to Prime Minister on Finance Revenue & Economic Affairs Miftah Ismail stated that induction of the two high speed FRP patrol boats for Pakistan Customs Preventive in collaboration with M/s DAMEN is mani-

festation of Pakistan’s close relations with Netherlands.

He appreciated the timely completion of this project and said that KS&EW’s management and workforce has made remarkable efforts to achieve the Pinancial turnaround of the organization from sustaining losses to a proPit bearing entity.

He showed his conPidence that induction of boats will signiPicantly enhance the capabilities of Pakistan Customs to combat the menace of smuggling.

MD KS&EW Syed Hasan Nasir Shah HI(M) who was also present in the event said that shipyard primarily constructs steel and aluminum ships and construction of these boats has provided the opportunity to enter into FRP construction.

He also briefed that presently there are six ships and seven boats are simultaneously being constructed. He proudly re-

ported that Pinancial turnaround of Karachi Shipyard is mainly due to regular orders from Pakistan Navy, optimum utilization of resources, successful business plan and multipronged marketing strategy.

He thanked MoDP, Ministry of Finance, Planning Commission and Pakistan Navy for solid support for revival of Karachi Shipyard. The ceremony was attended by ambassador of Netherlands, high ranking ofPicials from government, Pakistan Navy, Pakistan Customs, corporate sector and KS&EW. It is pertinent to mention here that the main hull and superstructure of these boats is of Fiber Reinforced Plastic. These boats are having length of 16 meters, displacement of 20 tons with maximum speed of 32 knots and equipped with 7.6 mm and 12.5 mm machine guns at aft position.

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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

Another chinese loan of $1 billion

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n its recent report, the International Monetary Fund has projected the debt servicing requirements of the country at $31.3 billion until 2022-23. After the apprehensions that Pakistan would be listed in the terror financing countries, the government is looking toward Chinese financial institutions to get further loans after mortgaging the national economy to the international financial institutions. A major cause of concern for the government is that its ability to seek loans from the World Bank and other financial institutions would be curtailed after Pakistan’s name will be placed in the list of terror financing countries in June this year. Instead of working on a national action plan to salvage the economy, the government policymakers have started exploring other means to get loans. It appears the financial managers in the country have little knowledge and myopic view of the current economic trends in the international level. Soon after coming to power, the government of the Pakistan Muslim LeagueNawaz sold its economic plan to the IMF after entering a three-year extended facility programme of $6.4 billion. The loan programme ended in 2016, but its repercussions are still there in the financial corridors of the country. The current media reports suggest the government is negotiating with a Chinese financial institution to get $1 billion as a foreign commercial loan. As the much advertised macroeconomic stability has ended in fiasco due to mismanagement and maladministration, the World Bank and the Asian Development Bank have already held back $700 million as balance of payments’ policy loans. The government had earlier borrowed $2.3 billion from three Chinese financial institutions at heavy markup rates. As the official foreign currency reserves of the State Bank of Pakistan declined to $12.4 billion, which are near to the minimum threshold to cover two and half months of import bill, the government is hoping to get another $200 million from a Chinese bank. The claim of former finance minister Ishaq Dar that the country has achieved macroeconomic stability has vanished in the air soon he left the office last year. The economy has reached the lowest ebb in recent months as no one is apparently answerable to the economic woes of the country.

Seeking investment from Arab states T

LAHORE

DR AFtAB AFZAL

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he other day, official of the Board of Investment invited Kuwaiti businessmen and entrepreneurs to take full advantages of liberal investment opportunities in Pakistan. The government has enacted laws to protect foreign investment and investors are allowed to repatriate their capital and profits under various schemes. There is no doubt in the notion that the present government is trying to persuade investors from all over the world to establish businesses in Pakistan. But most of the government endeavours are limited to lip-service and with-

out providing level playing field to the local and foreign investors. After all government actions and reactions, policies and schemes, Pakistan still has very poor ranking in the ease of doing business index. Tax rates are either high or irrational and tax base is restricted. In the presence of large-scale presence of black sheep in the official cadre, every effort to contain corruption backfired. When a big chunk of the government machinery is interested in the personal affairs, the official business is sent to the abeyance.

Pakistan has vast fertile agricultural lands, largest canal irrigation system in the world and strong industrial base, but it has

to import even vegetables from India and China. On another note, the Arab investors, whether Saudis, Kuwaitis or Emiratis, they all love to invest in European countries where besides business opportunities they have free access to kinds of merrymaking facilities. The Pakistani government has provided them every facility of investment, but there interest is limited to killing thousands of endangered species every year in Pakistan. The so-called Arab brethren need to be told that enough is enough and they should not be allowed to violate the laws of the land. They should not be allowed to liter our land for any reasons. As a matter of

fact, Pakistan needs US and European investment who have technology and they mean business. There is no use of wasting time, energy and money on Arab investors who look down upon everything in Pakistan and have no interest in technology. If they don’t want to invest in Pakistan we also need not to ask them to do so. However, before inviting foreign investors, we have to put our house in order as a priority.

Development of infrastructure is the principle requirement and this should be done at the first place. The government needs to take steps to better its ranking in the ease of doing business index and has to revise and rationalize tax rates and tax laws.

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Hearings of three customs references postponed after brief arguments by appellants ISLAMABAD: The Customs Appellate Tribunal on Friday dated in office the hearings of three customs references filed against the Model Customs Collectorate and Directorate General, Investigation and Intelligence, Islamabad. The Customs Appellate Tribunal’s Single Bench, comprising of Member Syed Muhammad Anwar, heard the cases. The bench adjourned the hearing on the cases after hearing brief arguments given by the appellants. M/s Lucky Enterprises, Haq Nawaz and Wasif Hussain had filed these cases. All of these cases were filed during 2016. M/s Lucky Enterprises had had filed the case against the MCC. It had challenged a customs duty assessment announced by the adjudication.

IHc relists four customs references filed against AtIR ISLAMABAD

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slamabad High Court relisted four customs matters filed against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue. A citizen, M Anwar Khan had filed four customs references against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue. IHC division bench comprising Justice Aamer Farooq and Justice Mohsin Akhtar Kiyani was hearing the matters.

Meanwhile another bench also dated in office hearing on cases submitted

by M/S Pakistan Tobacco Company Limited. The bench also heard another tax matter filed by M/s Pakistan Tobacco Company Limited. The appellant had filed challenging a show cause notice issued by the Large Taxpayers Unit, Islamabad. M/s Pakistan Tobacco Company Limited had contested show cause notices is-

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Tuesday March 13, 2018

National

canvas water Discharge Hose’s Valuation Ruling No: 1264/2018 revised T

KARACHI

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he Directorate General of Customs Valuation has revised the customs values of Canvas Water Discharge Hose Valuation Ruling No: 1264/2018 under Section 25A of the Customs Act-1969.

A representation was received from M/s Ghauri Enterprises that the consignments of Canvas Water Discharge Hose are being imported at different declared prices and are assessed on different prices. They requested an issuance of valuation ruling under Section 25-A of the Customs Act-1969 for uniform assessment across the board.

Keeping in view the above stated request and clearance data of subject goods, this Directorate General initiated an exercise for determination of the Customs Values of the object goods in terms of Section 25-A of the Customs Act-1969. Stake holders’ participation in determination of customs values: Meeting with stakeholders was convened on 06.02.2018 to discuss the international price trends of the subject goods. M/s Ghauri Enterprises con-

tended that value of Canvas Water Discharge Hose should be determined in close proximity of value determined for PVC Hose Pipes vide Valuation Ruling No. 1010/2017 dated 12.01.2017, however the Departmental representative stated that PVC Hose Pipe is mainly composed of PVC raw material where as

Canvas Water Discharge Hose is composed mainly of polyester Pilaments, hence both items have no nexus with each other. The view point of participants was heard in detail and considered to arrive at customs values of the subject goods.

The method adopted to determine customs value: Valuation

methods provided in Section 25 of the Customs Act-1969 were duly applied in their regular sequential order to arrive at customs values of subject goods. The transaction value method provided in Sub-Section (1) of Section 25 was found inapplicable because there were wide differences in the declarations.

1.26m taxpayers filed income tax returns in 2017 ISLAMABAD

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sued by the field offices of Federal Board of Revenue. According to details, M/s Pakistan Tobacco Company Limited had challenged recovery of issued to it in head of outstanding sales tax by the LTU, Islamabad. M/s Pakistan Tobacco Company Limited had submitted the department had issued the demand for the tax year 2010 in head of sales tax. Federal Board of Revenue (FBR), officers of LTU including Commissioner Inland Revenue, Commissioner Inland Revenue (Appeals) and Appellate Tribunal Inland Revenue (ATIR) were made respondent in the case.

ederal Board of Revenue (FBR) has issued names of 1.26 million taxpayers who Piled income tax returns for tax year 2017.

According to the latest FBR’s Active Taxpayers List (ATL), about 160,000 taxpayers become non-Pilers and will be deprived of availing the benePit of lower withholding tax rates. The FBR issues ATL on March 1 every year of those taxpayers who Piled their returns during the preceding tax year. The appearance of taxpayer names is mandatory for availing the reduced rate of withholding tax applicable on various transactions including bank, properties, sale/purchase of securities, motor vehicles etc.

The number of return Pilers was

1.01 million when FBR issued ATL last year, which shows growth in return Pilers at 25 percent. However, the return Pilers for tax year 2016 increased up to February 28 to 1.42 million, showing 0.41 million more returns Piled after issuance of previous ATL. In 2007, 2.1 million people

Piled their income tax returns. In 2013, when the PML-N came into power, active taxpayers in Pakistan were only 935,776, which gradually increased to 1.391 million last year.

A recent FBR report, submitted to the Senate Standing Committee on Finance, revealed that only the

salaried was allowing FBR to save face. Excluding the salaried class, the number of return Pilers from the other 35 sectors of the economy has actually decreased over the previous Pive years. In June 2013, the government had introduced the policy of charging higher tax rates from those who do not Pile their income tax returns. It imposed 0.6% withholding tax on all banking transactions carried out by non-Pilers. Eventually, it lowered the rate to 0.4% while succumbing to pressure exerted by the trading community. It is also charging 0.6% withholding tax on cash withdrawals from banks by non-Pilers. However, the FBR’s own statistics showed that out of 48 main withholding taxes, 94% withholding tax revenue was generated only on account of 10 traditional sources like contracts, imports, telephone bills and salaries etcetera.

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Court imposes fine on 20 Pakistanis deported from Greece Tuesday March 13, 2018

National Shortage of staff at Rtos, Audit Dept: over 1 million audit cases pending

LAHORE: A Special Federal Court of Customs, Taxation and Anti-Smuggling has imposed a fine of Rs20,000 each on 20 persons deported from Greece and also convicted them until the rising of the court.

The court was informed that the accused were deported from Greece after they were arrested by the Greece authorities on their illegal stay and possession of fake documents. The judge after hearing the prosecution imposed a fine of Rs20,000 on the deportees and convicted them until the rising of the court.

Abdul waheed takes charge as I&I-IR additional director

LAHORE

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ISLAMABAD

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ore than one million audit cases are still pending at the Federal Board of Revenue (FBR) due to shortage of staff at the Regional Tax Offices and Audit Department. Sources said that over 0.8 million audit cases, generated under D-214, could not be handled in tax year 2016-17, while more than 0.20.3 million cases selected for audit during FY 2013-15 are also pending.

Under the Section D-214 of Income Tax Ordinance 2001, taxpayers who fail to file annual income tax returns till the last date announced by the FBR are automatically selected for audit. In tax year 2016, the date of filing tax returns was extended four times; however, about 400,000 people filed returns after the due date which were sent for audit. Likewise in TY 2017, the last date of filing returns was extended several times for 15 days and one month.

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Asif assumes charge as commissioner-IR in Sargodha sif Rasool, a BS-19 officer of Inland Revenue Service, has assumed charge as Commissioner-IR. The officer, in pursuance of Board’s Notification No. 0278-IR-I/2018, dated 12.02.2018, took the charge of the post of Commissioner-IR, (OPS) (IP/TFD/HRM), Regional Tax Office, Sargodha with effect from February . Meanwhile Naheed Ahmad, a BS-18 officer of Inland Revenue Service, has assumed charge as Deputy Director, Directorate General of Intelligence & Investigation (IR), Islamabad. The officer, in pursuance of Board’s Notification No.0357-IR-I/2018 dated 22-02-2018, relinquished the charge of the post of Second Secretary (BTB Wing) at Federal Board of Revenue (HQ), Islamabad with effect from February 26. –CB Report

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Abdul Waheed Khan, a BS-19 ofPicer of Inland Revenue Service, has taken charge as Additional Director, Directorate General of Intelligence and Investigation-IR, Islamabad.

The ofPicer, pursuing the Board’s NotiPication No. 0436-IR-I/2018, dated 23.02.2018, relinquished the charge of the post of Additional CommissionerIR, Large Taxpayers Unit, Islamabad with effect from February 27 and took the charge of the post of Additional Director, Directorate General of Intelligence and Investigation-IR, Islamabad on the same date. Meanwhile, Federal Board of Revenue (FBR) has transferred and posted Hamid Hussain, a BS-20 ofPicer of IT cadre, as Chief of Centralized Sales Tax Refund OfPice

(CSTRO) at FBR Headquarters, Islamabad. An ofPice order issued by the

FBR said that the ofPicer, on his return from National Management Course,

was posted with immediate effect and until further orders.

customs pcA detects tax evasion of Rs7 million by m/s Shamil enteprises T

KARACHI

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he Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 7 million by M/s Shamil Enterprises (deals in medical accessories) Karachi, it is learnt here. Sources told Customs Today that M/s Shamil Enterprises imported a consignment of medical accessories, include hand gloves, imported sugar and blood testing machines , and got it cleared from the PICT Karachi vide GDs on August 17, 2017 by paying customs duty at 8 percent after claiming the benePit of the SRO 569/2007. However, the subject items were correctly classiPiable under the PCT 2478.2498 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of mis-declaration of classiPication, the company evaded/short-paid Rs 7 million. The goods were cleared

by Head Examiner Rana Nawaz.

Sources told that the importer violated the provisions of Section 45 (7) & (6A) of the Customs Act-1969, Sec-

tion 25 read with Section 49 of the Sales Tax Act-1990 and Section 14 of Income Tax Ordinance 2001 punishable under clauses (897) and 125 of

Section 458(9) of the Customs Act1969, Section 88 of the Sales Tax Act1990 and Section 77 & 254 of Income Tax Ordinance 2001.

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ASO confiscates Rs20m worth of smuggled items from Paan Mandi LAHORE: A team of Pakistan Customs’ Anti-Smuggling Organisation has confiscated more than Rs20 million worth of smuggled items in two different raids on Paan Mandi in the provincial capital.

The ASO team, during first raid, confiscated Rs10 million worth of smuggled cigarettes, tobacco, naswar (powdered tobacco snuff) and other items from a godown. In another raid, the team seized Rani juice, Iranian chocolates and skimmed milk.

pFA issues instructions to read label on food items RAWALPINDI

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unjab Food Authority (PFA) has issued instructions for general public to read labels on food items to avoid use of substandard and unhygienic food. According to the notification issued by the office of Director General (DG) PFA Noor ul Amin Mengal, the new directives would help the common man to read the label of edible products. In the notice issued, all the important points are given regarding labeling of food products. The notice declares that labels should be completely based on fact and duration of the product should also be mentioned in the label. The notice further states that according to PFA

Labeling rules the writing of the label should be clear and full nutrients, proportion and proportionate quantities should also be mentioned.

However, the authority has decided to launch a campaign to create awareness among the masses for reading labels of edible goods. DG PFA Noor ul Amin Mengal said label reading of food products help to control many issues regarding poor food and nutrition. He urged the citizens to inform the authority in case of any complaint regarding poor quality and unhygienic food items supplied in the market, adding reading labels would help the citizens to monitor the quality of edible goods and the authority to overcome the issue.

National

No change in tax mechanism for immovable property transactions: Afzal

tax evasion of Rs9.66m committed by m/s Afreen Autos uncovered by pcA KARACHI

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he Directorate of Customs Post Clearance Audit has detected duties and taxes evasion of Rs9.66million by M/s Afreen Autos Karachi, it is learnt here.

Sources told Customs Today that M/s Afreen Autos Karachi imported a consignment of special vehicles’paint, radiator net, alloy rim, seat covers and other things and got it cleared from the PICT Karachi vide GDs on December 7, 2017 by paying customs duty at 10 percent after claiming the benefit of SRO 568/2007. However the subject items were correctly classifiable under the PCT 2587.2407 attracting customs duty at 14 percent and income tax at 10 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs9.66million. The goods were cleared by Head Examiner Usman Basheer. Sources said that the importer violated the provisions of Section 45 (9) & (7A) of the Customs Act-1969, Section 12 read with Section 69 of the Sales Tax Act-1990 and Section 587 of Income Tax Ordinance 2001 punishable under clauses (254) and 178 of Section 547(6) of the Customs Act-1969, Section 78 of the Sales Tax Act-1990 and Section 25 & 89 of Income Tax Ordinance 2001.

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M KARACHI

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inister of State for Finance and Revenue Rana Muhammad Afzal has ruled out any change in taxation mechanism for immovable property transactions on the basis of valuation prescribed

by Federal Board of Revenue (FBR).

At a meeting with members of Association of Builders and Developers (ABAD), he rejected a proposal of the association to bring the valuation of immovable properties at par with open market rates but in order to facilitate the investor the government should reduce the tax rate. The state minister said that due to existence of undocumented economy there are issues of declaring black money. “There will be no benePit to revenue by reducing the tax rates as people unlikely to declare at open market rates,” he added.

The minister said that the real estate business attract most of the money existed in the economy. Further, the inflows of home remittances are mostly invested into this business activity. He said that overseas Pakistanis send $18 billion as remittances out of this an amount

Tuesday March 13, 2018

of $8-10 billion invested in real estate business. The state minister expressed reservations over the money invested in this segment of the economy and the declaration of

the investment. The prime reason for reservation is the lowest return in the shape of tax money against investment made in real estate business.

ecc approves plan to settle power sector payables

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ISLAMABAD

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he Economic Coordination Committee (ECC), with Prime Minister Shahid Khaqan Abbasi in the chair, on approved a plan to settle power sector payable that would ensure that governmentowned companies including PSO, SSGPL, SNGPL, Gencos, DISCOs and nuclear power plants continue to operate normally.

The Government will also settle outstanding dues of IPPs after reconciliation and pre-audit in the prescribed manner to ensure transparency. The ECC also approved

procurement target of 6.100 million tons of wheat for the year 2017-18. The ECC reviewed progress into its earlier decision of directing Trading Corporation of Pakistan to procure 0.3 million metric tons of sugar from sugar

mills. It was reiterated during the meeting that the decision was taken by the forum to facilitate sugar mills for timely procurement of sugarcane and to ensure payments to the farmers at prescribed rates. The meeting was informed

that no bid was received against the TCP tender for procurement of sugar at Rs 48 per kg. Signing of Headquarters Agreement between Government of Pakistan and SAARC Arbitration Council (SARCO) for exemption from duties and taxes to SARCO and its officials was approved. The ECC accorded approval to a proposal to link price of JP-8 petroleum product with ex-refinery price of JP-1. Issuance of GoP Sovereign Guarantee against financing facility of PKR 13,132 million from local banks for evacuation of power from 1320 MW imported coal power plant at Hub was also approved.

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World Customs

Dutch supermarket introduces plastic free aisle

AMSTERDAM: A supermarket in the Netherlands wants to make it easier on the planet and easier for its customers to avoid adding to the mountains of plastic waste generated every day. On Wednesday, the supermarket, Ekoplaza, an upmarket chain, introduced what it billed as the world’s first plastic-free aisle in a store in Amsterdam.

There, shoppers found groceries, snacks and other sundries but not an ounce of plastic. The items are packaged in compostable materials or in glass, metal or cardboard.

Tuesday March 13, 2018

turkey: over 300 kilograms heroin seized

Brazil receives record 5.4b in from special oil royalty BRASILIA

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ANKARA

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More than 300 kilograms of heroin were seized during anti-narcotics operations across eastern and southeastern Turkey, a ministry statement and a police source said.

Turkish Ministry of Customs and Trade said in a written statement that custom guards launched an operation on a tip-off at Habur border gate between southeastern Turkey and northern Iraq.

The guards conPiscated more than 61 kilograms of packed heroin from a lorry they stopped at the gate. In another operation in eastern Van province, anti-narcotics teams seized more than 155 kilograms of heroin stacked inside a truck, a police source said on the condition of anonymity due to restrictions on talking to the media. The driver and the passenger

Russian govt looks to increase auto exports lobal automakers operating in Russia may significantly increase exports of their locally made cars and engines in coming years, thanks to special customs benefits and subsidies offered to them by the Russian government. Increasing exports of cars, auto parts and engines produced in Russia has become a priority for the government. Devaluation of the ruble has significantly reduced costs for global automakers who are placing greater emphasis on exporting their Russian-made cars amid a steep decline in local demand.

The ruble’s devaluation led to the growth of car exports from Russia in 2017. According to Russian Ministry of Industry and Trade data, last year’s exports of 84,400 units were up 24.1% compared with 2016 and were valued at $1.32 billion. –CB Report

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were arrested over drug-related offenses. In southeastern Diyarbakir province, police carried an operation following a tip-off. Two suspects were detained and 86.5 kilograms of heroin were seized, the sources added. Meanwhile, The alliance between Turkey’s ruling Justice and Development Party (AKP) and its de facto partner, the Nationalist Movement Party (MHP), has extended to an unlikely realm:

the idea to develop Turkey’s own bitcoin. Amid bitcoin’s meteoric rise last year, the Turkish government had taken an unwelcoming stance toward the cryptocurrency. Ministers likened it to a pyramid scheme and warned citizens to stay away. The MHP, however, argues that instead of dismissing cryptocurrencies, Ankara should draw up legislation to regulate and control the market.

china drops US broiler chicken import duties amid growing trade

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hina’s Commerce Ministry said it has removed antidumping and anti-subsidy duties on U.S. white-feathered broiler chickens, ending a yearslong dispute between the world’s largest economies amid growing tensions over agricultural trade.

The move, effective on Tuesday, comes after a World Trade Organization ruling in January that obliged Beijing to lower the tariffs

unless it appealed within 20 days.

The tariffs were first imposed in 2010 and were extended for a further five years in 2016. The removal of penalties comes against a backdrop of an escalating trade spat between the two countries, after Washington slapped duties on washing machines and solar panels, triggering a probe by Beijing into US sorghum that was widely seen as retaliation. –CB Report

razil received a record 5.4 billion reais ($1.66 billion) from a special royalty on oil and gas production in the fourth quarter, just below the 5.9 billion reais it received for all of 2016, Brazilian oil regulator ANP said. The payments, a windfall-profits tax known in Brazil as “the special participation,” is an additional royalty paid to the government on large and especially productive fields above and beyond the standard 10 percent per barrel.

ANP said the Lula field generated 3.375 billion reais, the biggest share of the proceeds in the quarter.

Meanwhile, Brazil’s top prosecutor has obtained a Supreme Court order to lift the bank se-

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crecy of several people and companies under investigation in a port corruption case that has implicated President Michel Temer. A spokesperson for Public Prosecutor Raquel Dodge said Justice Roberto Barroso had agreed to allow prosecutors to probe bank accounts, tax information and emails, but declined to name the people or companies that are being targeted.

Globo TV reported on Saturday night that prosecutors and police also want to probe the president’s bank accounts, tax information and telephone calls.

The case involving alleged bribery in obtaining the extension of port concessions last year is the only pending corruption case that involves the president. The head of Brazil’s federal police, Fernando Segovia, two weeks ago that the investigation had found no evidence of corruption and could soon conclude no crime was committed.

Air New Zealand pre tax earnings dip

ir New Zealand has announced pre-tax earnings for the first six months of the financial year of $323 million, compared to $349 million in the same period last year.

Net profit after tax was $232 million. The airline said the result was driven by a 5.6% operating revenue growth, with ‘robust’ demand across all markets and particularly strong growth in the short-haul network.

Passenger revenue reached an all-time record for an interim.

“This high quality interim performance was driven by robust

passenger demand and revenue growth, reflecting the airline’s strong position in New Zealand and throughout our Pacific Rim network.”

“We are thrilled with the performance of our network in the period. “The domestic market continues to show strength driven by the New Zealand economy as well as inbound tourism, and we will be increasing capacity approximately six percent across our regional and jet services to support that demand over the second half of the financial year. –CB Report

India will likely increase coal imports in 2018

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MUMBAI

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conomic Times reported that caught between logistical bottlenecks and surging demand from power plants, India will likely increase coal imports in 2018, industry executives said, in what would be a setback to the govern-

ment’s plans to cut the country’s dependence on foreign supplies. The projected higher coal demand, which would reverse two years of declines, will be a boon for international miners such as Indonesia’s Adaro Energy, Australia’s Whitehaven Coal or global commodity merchant Glencore. But, the country’s power plants and cement makers, the source of the resurgent de-

mand, will end up eating the cost of the higher-priced imports.

State-owned Coal India, the world’s second biggest coal miner by production, is grappling with a shortage of trains to carry the fuel from its mines to the country’s power plants, according to the minutes of government meeting held and reviewed. India’s thermal coal imports may rise as much as 4 per-

cent this year, with a steady 3 percent to 5 % of growth expected over the next Pive years, a senior executive at Adani Enterprises, the country’s biggest coal trader. Mr Rajendra Singh, Adani’s chief operating ofPicer for coal trading said that “They (power plants) are not going to get the coal from Coal India as they were promised because of limitations on the infrastructure side.”

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Sale of HMS ocean to Brazil ‘sad day for Devonport’ BRASILIA: The sale of Royal Navy flagship HMS Ocean to Brazil is “another shrinking of the Royal Navy in Devonport”. That’s according to Plymouth MP Luke Pollard, who has described the move as a “sad day” for Plymouth’s naval base.Devonport remains home to our amphibious ships, survey vessels and half her frigates,” said Mr Mercer. “It also continues to provide repair and maintenance capability for submarine fleet, training hub of the front-line fleet, flag office sea training, and the the RN Amphibious Centre of Excellence at Royal Marine Tamar.

South korea Feb export growth slowest since ’16 orea’s export growth slowed in February to its weakest in more than a year, government data showed yesterday, showing the effects of a long Lunar New year holiday and a slip in overseas demand for some Korean goods. The 4% year-on-year increase in exports was the slowest expansion since November 2016 and deeply underperforms a 22.3% jump in January, but was better than the median estimate for a 0.4% increase. Shipments were hit by fewer working days due to the change of the timing of the Lunar New Year. There were 19.5 working days in February this year, versus 22 last year. Combining January and February, exports surged 12.8 year-on-year, evidence that overseas demand is strong enough to support solid growth in the first quarter. “This slowdown is likely to be temporary, exports will continue to grow going forward on solid demand for Korean goods,”said Kim

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Ports & Shipping

piraeus port increases handling capacity

India’s exports imports hit as banks tighten credit checks ndia’s infamous Punjab National Bank scam has cast a long shadow over the export-import trade with lenders becoming extra-cautious while issuing Letters of Understanding (LoU) and offering them at a premium. The huge fraud case has made it difficult for many companies to raise money through LoUs from abroad. However, bankers are confident there will not be a complete freeze on LoUs as that could affect genuine business operations, reports the Press Trust of India. This tightening of controls and checks has led to a rise in costs for Indian exporters and importers. Even for LoUs already issued, a “risk premium” has been imposed. An LoU is a guarantee by a bank to pay another lender for imports by companies and is considered crucial for cross-border trade.

The scam unearthed at PNB’s branch in Mumbai allegedly involved diamond merchant Nirav Modi and various officials from his company colluding with senior bank officials to issue LoUs without proper checks and securities. –CB Report

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iraeus port, Greece’s largest, entered a new era of handling vessels with a capacity of more than 20,000 TEU (20foot equivalent units) on Monday, when the Cosco Shipping Taurus giga-container ship, one of the biggest worldwide, docked there.

The 400-meter Taurus is the largest vessel to berth at the Piraeus Container Terminal (PCT), opening a new chapter in the history of the port. A number of ofPicials and shipping industry representatives attended a ceremony to mark the maiden call of the ship – which set sail from China, with Rotterdam being the Pinal destination – and the inauguration of the third berth for 20,000-plus TEU vessels at PCT. Piraeus port, where the modern maritime Silk Road connects with the land route, has changed impressively since Cosco Shipping Corporation subsidiary PCT took over its

Tuesday March 13, 2018

management eight years ago for total period of 35 years.

Meanwhile, A Chinese heavy-lift ship carrying four big container cranes is sailing toward Tacoma, a port city in Washington state, local authorities said this week. The 47,107-ton heavy load carrier Zhen Hua 28, which is 232 meters long

and carries the Plag of China’s Hong Kong, is scheduled to arrive on Friday in the port of Tacoma, according to the latest announcement by the Northwest Seaport Alliance (NSA), the port authority based in the Puget Sound region that comprises the seaports of Tacoma and Seattle, the largest city in Washington.

Intermediate goods stand at top of Iran’s imports list TEHRAN

Doo-un, an economist at Hana Financial Investment. Economists expect South Korea’s exports to grow at a slower but steady pace in 2018 after 2017’s bumper growth, reflecting a statistical base effect from last year’s strong performance and ongoing trade friction with the United States. Bank of Korea governor Lee Juyeol said on Tuesday that the auto and steel industries could be hit hard if US trade curbs were to be further stiffened, because they run the biggest trade surpluses with the United States. The US Commerce Department has recommended President Donald Trump impose steep curbs on steel imports, including those from South Korea, after slapping bigger taxes on washers and solar panels. –CB Report

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ntermediate goods shared 59.8 percent of Iran’s imported goods in terms of value in the Pirst 10 months of the current Piscal year, started March 20, 2017.

Iran imported 23.585 million tons of intermediate goods, worth $25.616 billion in the Pirst 10 months of the current Piscal year, based on latest data released by Trade Promotion Organization of Iran. The volume of the goods was equal to 77.4 percent of Iran’s total imports’ volume.

Intermediate goods are products utilized to produce a Pinal or Pinished product. These goods are sold between industries for resale or for the production of other goods.

Import of Iran’s consumer goods registered a huge rise by 66 percent

during the Pirst 10 months of the current Piscal 2017, and stood at $7.96 billion. The volume of the im-

ported consumer goods amounted to 2.727 million tons in the 10month period compared 1.668 mil-

lion tons in the same period of the preceding year. About 18.6 percent of Iran’s imported goods in the period were consumer goods, meanwhile capital goods shared 15.5 percent of the imports in terms of value.

The value of imported capital goods reached $6.637 billion, 1.8 percent more compared to the 10-month period of the preceding year.

The Islamic Republic imported 693,000 tons of capital goods, equal to 2.3 percent of the country’s total imports in terms of volume.

Capital goods are used in producing other goods, rather than being bought by consumers. Iran imported 30.49 million tons of goods, worth $42.805 billion during the Pirst 10 months of current Piscal year (March 20-Jan. 21), which indicates 10.4 percent and 22 percent rise in terms of volume and value respectively compared to the same period of preceding year.

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Punjab govt providing 60% subsidy on drip irrigation system MULTAN: Punjab Food Authority (PFA) recovered 7,000 litres edible oil made of fats extracted from animals waste besides raw material of 11,000 liters from a suburban area of Layyah. PFA official in a statement said that a team raided an area at Karor road where a huge quantity of edible oil was being prepared from fats extracted from animals waste. He said that a mafia involved in the business used to sell oil with different brand names in various cities of South Punjab. When the team raided, the animal remains made oil was being mixed with used oil for packing, he said and added that the owner of the gang managed to flee from the spot before the raid.

Tuesday March 13, 2018

Business

pm opens tarbela extension hydro power project TARBELA

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rime Minister Shahid Khaqan Abbasi inaugurated Tarbela 4th Extension Hydropower Project at Tarbela.

First unit of 470 MW is being commissioned today, while two more units will be online before the onset of summer this year. Commissioning of Tarbela 4th Extension Hydropower Project is another historic milestone achieved by the government to add 1410 MW to the National Grid. Commissioning of Tarbela 4th Extension Hydropower Project is yet another historic milestone achieved by the government to

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add 1410 MW in the national grid. T4 project will play pivotal role in balancing energy mix of the country and stabilizing prices of electricity for a long span in future with an attractive economic rate of return of more

pak-epA conducting capital’s industrial areas survey

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he Federal Investigation Agency (FIA) arrested three persons Usman, Asim and Mushtaq who had been deported from Turkey, upon their arrival at Sialkot International Airport. Mufakhar Adeel, FIA deputy director, said that the Agency had sent the accused behind the bars after registering separate cases against them. Meanwhile, A team of Federal Investigation Agency (FIA) conducted a series of raids and sealed the office of pharmaceutical company and seize its all stock.

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than 30% and annual cost sale of US$: 300 million to national exchequer. Completion of this important project within time and cost always held top priority of the government.

It resounds as a real proof of the gov-

ernment’s commitment to provide relief to common man through provision of affordable and clean energy.

It will also augment economic growth and social uplift. Tarbela Dam is located on the Indus river about 100 km Northwest of Islamabad. T-4 project is located within premises of existing Tarbela Dam Project. Tarbela Dam Project, completed in 1976, has provision of 5 tunnels, 4 on Left Bank and 01 on Right Bank.

Tunnels 1-3 have installed capacity of 3,478 MW with average annual energy generation of 15-16 billion units. T-4 project will generate 3.84 billion units annually equivalent of burning of 1 million ton of furnace oil. Newly installed units of T-4 project are more efPicient and it is expected to have 10 -15% more energy through these units.

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ISLAMABAD

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akistan Environmental Protection Agency (Pak-EPA), Islamabad is in process of ambient air quality monitoringsurvey of sectors 1-9, I-10 and Kahuta triangle industrial areas.

The monitoring, started from February 1, 2018, is aimed at determining pollution sources and adopt measures toaddress them.

Sources at Climate Change Division on Wednesday said state-of- the-

art mobile automatic ambient air quality monitoring station and high volume air samplers for Suspended Particle Matter (SPM) are being used during the survey.

The number of monitoring locations include ten locations in sector I-9, 13 locations in sector I-10 and seven locations in Kahuta triangle industrial area. The sources said a comprehensive report will be drafted by analyzing data of this more than month long activity once completed. This agency also has a plan to conduct ambient air quality monitoring of all residen-

tial sectors of Islamabad.

The sources said a station will be placed at each location for 24 hours and following parameters will be monitored by mobile automatic ambient air quality monitoring station.

These are Nitric Oxide (NO), Nitrogen Dioxide (NO2), Oxides of Nitrogen (NOx), Methane (CH4), Non Methane Hydrocarbons (NMHC), Total Hydrocarbons (THC), Carbon Monoxide (CO), Sulphur Dioxide (SO2), Ozone (03) and Particulate Matter less than 2.5 microns (PM2.5).

NAB generates Rs4b through plea bargain ISLAMABAD

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he National Accountability Bureau (NAB) has generated Rs4 billion from 399 public servants in the last 17 years through plea bargains. Punjab government’s servants were on the top of the list in numbers with 177 officials returning Rs1 billion to the NAB under the plea bargain. As many as 114 corrupt officials of the Khyber-Pakhtunkhwa province returned Rs1.15 billion to the bureau. The NAB recovered Rs500 million from 46 officers of Balochistan through plea bargain deal. The documents reveal that officers of the Sindh province were the most corrupt and only 69 officials returned Rs1.53 billion to the NAB through the plea bargain The documents further reveal that the NAB recovered Rs4 billion of the total Rs5.73 billion in the last 17 years. Former NAB chief Qamar Zaman Chaudhry faced severe criticism last year after he accepted a plea bargain request of former Balochistan secretary finance Mushtaq Raisani in the Rs3 billion corruption case. After facing the severe criticism from politicians and the media, the NAB withdrew Raisani’s plea bargain application.

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Long investment openings available in pakistan: SBI KARACHI

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hairperson of Sindh Board of Investment (SBI), Naheed Memon in her address to the Pak-Kuwait Investment Conference being held at Kuwait by the Kuwait Chamber of Commerce and Industry said that excellent long term investment opportunities are available in Pakistan. She said that rapidly ex-

panding market has potential for the investors to earn benePit, said a statement issued here on Tuesday.

Speaking about her visit to Kuwait, she said that one of the objectives of the visit is to create awareness among the investors of Kuwait about the investment opportunities in the rapidly expanding markets of Pakistan.Naheed said that good investment opportunities are available in Pakistan and Kuwait in energy, infrastructure, health,

tourism, hospitality, agriculture, transportation, food and other sectors She also informed the participants of the conference about the special economic zones in Khairpur, Bin Qasim and Korangi as well as about the importance of Dhabeeji Special Economic Zone which has been introduced under the ChinaPakistan Economic Corridor (CPEC), project. Pakistan’s Ambassador in Kuwait Ghulam Dastagir and Chairman of Board of Investment (BOI)

Pakistan Naeem Zamindar also addressed to the conference.

Meanwhile, the SBI Chairperson along with others met Managing Director Kuwait Investment Authority (KIA) Farouk Bastaki. The KIA ofPicial briefed about the possibilities of investments in oil, housing, infrastructure, hospitality, transport and other sectors. He said that the government of Kuwait has been investing in Pakistan for years in banking, hospitality, power and other sectors.

Meezan Bank, Movenpick and KElectric are some examples of these investments, he added. During her visit, Naheed also met Director General Kuwait Fund for Arab Economic Development Abdul Wahab Al Bader. She also held meetings with investors of Kuwait and Pakistani businessmen. The investors also showed their interests in investment in the Nooriabad Industrial Park and agreed to hold further meetings in this regard.

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Renewal of FCCI membership to continue till March 31 FAISALABAD: The renewal of membership of Faisalabad Chamber of Commerce and Industry (FCCI) for the year 2018-19 will continue till March 31, 2018.

According to Secretary General FCCI, all the chamber members have been reminded to get their membership renewed upto March 31, 2018. He said that Rs 4300 would be charged as fee for renewal of membership of Corporate Class while fee for Associate Class member has been fixed at Rs 2000.

The chamber will also issue a special computerized card to its members after charging a nominal fee of Rs 200. More information in this regard can be obtained through 041-9230265-67, he added.

FpccI flays govt over failure to expand tax net

Tuesday March 13, 2018

Chambers

kccI team briefs mauritian president on smooth trade hurdles of both countries

LAHORE

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ederation of Pakistan Chambers of Commerce and Industry (FPCCI) President Ghazanfar Bilour said that government had promised to expand tax net to reduce pressure on the existing taxpayers and increase its revenue but the statistics released reveals tax filers have now reduced by 130,000, which was alarming situation for the government. Addressing a dinner hosted in his honour by Ahsan Bakhtawari, Former Vice president, ICCI, hosted a dinner at his residence, Ghazanfar Bilour said present government tenure was going to end soon, therefore, he said that instead of putting more burden

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on the existing taxpayers, government should expand tax net. Islamabad Chamber of Commerce and Industry (ICCI) Founder Group Chairman Zubair Ahmed Malik, outgoing chairman of founder group Khalid Javaid, vice president of FPCCI Atif Ikram Ikram and Karim Aziz Malik and a large number of representatives of business community, ICCI former officer bearers, Muhammad Naveed Acting President and Nisar Ahmed Mirza, Vice President, Islamabad Chamber of Commerce and Industry were also present at the occasion. Meanwhile Acting President FPCCI Syed Mazhar Ali Nasir has urged the expediting the dialogue on signing free trade agreement (FTA) between Pakistan and Turkey to boost the bilateral trade. In a statement here on Monday, he said the exports of fabrics had been badly affected due to provocative duties imposed by Turkey.

KARACHI

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high-level delegation from the Karachi Chamber of Commerce & Industry, which is currently on a visit to Mauritius, met President of Mauritius Dr. Ameenah Gurib-Fakim during their visit to the State House situated in Moka District of Mauritius where they briefed the president and gave suggestions on how to deal with some major hurdles hindering the smooth trade between the two countries.

Exchanging views with the President Mauritius, KCCI’s delegation, which was being led by Vice-President KCCI Rehan Hanif, expressed deep concern over the ban imposed by the Mauritian government on the imports of meat from Pakistan. They said that, in this regard, ofPicers of the Mauritian Health Department were scheduled to visit Pakistan since two years to inspect the health and hygiene conditions of Pakistani meat prior to lifting a ban on the meat imports but they have not visited the country so far and their visit is postponed every time they intend

to visit Pakistan because of minor issues. They requested the Mauritian President to send the Mauritian Health OfPicers to Pakistan urgently so that the ban imposed on meat imports could immediately be lifted which would certainly help in improving the meager trade volume between the two countries.

Referring to the last visit of Mauritian President to Pakistan, KCCI’s delegation recalled that the Mauritian President during the said visit to Pakistan assured provision of space

for organizing Pakistan’s single country exhibition in Mauritius. In this regard, they requested the president to instruct the ofPicials concerned to make arrangements so that the Karachi Chamber could hold single country exhibition which would bring the business communities of both countries more closer to each other. They further expressed concern over the limited period visas issued to the visitors from Pakistan for up to seven days only which has to be increased to one

pR to provide cargo services to private sector ISLAMABAD

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bdul Maalik, Divisional Superintendent Rawalpindi, Pakistan Railways said that business community was playing leading role in the economic development of the country and Pakistan Railways would provide them better cargo services to facilitate them in growth of business activities. He visited ICCI along with Dr. Tahir Bukhari, Chief Transportation Manager, Railways HQs, Lahore to discuss how Pakistan Railways could help them in cargo transportation.

He said due to the good efforts of current Federal Railways Minister, Pakistan’s Railways revenue has been improved from Rs.18 billion three years back to Rs.40 billion and the next target was to take it to

Rs.50 billion. However, he said that Pakistan’s Railways annual expenditure was Rs.75 to 80 billion due to which it was still in dePicit.

Abdul Maalik said that Pakistan Railways have purchased 1800 new locomotives of 4000 horse power each from US with a load capacity of 60 ton each to provide better cargo services to its customers. He said under CPEC, $8.2 billion would be spent for Pakistan Railways in three phases to improve its infrastructure and systems. He hoped that with its upgradation, railways would provide smart services to the private sector. He said that the purpose of his visit to ICCI was to interact with business community in order to identify their problems and consult with them how to provide them better cargo services. He assured that efforts would be made

resolve all highlighted issues of business community. Speaking at the occasion, Muhammad Naveed, Acting President, Islamabad Chamber of Commerce & Industry said that Pakistan Railways has key role in the growth of business activities as it provided cheapest mode of goods transportation.

However, he said with the passage of time, the share of Pakistan Railways in freight transport has dwindled. He said Pakistan Railways enjoyed 73% share in freight transport from 1955 to 1960, but its current share has significantly come down. He stressed that Pakistan Railways should take urgent measures to restore its old glory and provide better cargo services to the private sector that will not only facilitate the growth of business activities, it will also improve its own revenue.

month at least in order to encourage the business-to-business and people-to-people interaction between the two countries. After being briefed about the potential of Mauritius, KCCI’s delegation was fairly convinced that the island was a gateway to Africa and it has the potential to become Dubai of Africa in the days to come. Mauritius can be used by Pakistani business community to effectively penetrate into the African region where Pakistan’s trade was almost non-existent.

LccI calls for skilled manpower ahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid has said that industry was suffering because of lacking professionally skilled and competent manpower.

The Lahore Chamber of Commerce & Industry is working days and nights to fill this gap through productive activities like Business Plan Competitions.He was speaking at Young Entrepreneurs Business Plan Competition here at LCCI. Malik Tahir Javaid said that it was prime duty of the Lahore Chamber of Commerce and Industry to promote business activities in the country and such programme would help bring a positive change. He said the Lahore Chamber would continue to arrange Business Competition plans so that the industry can get professionally skilled human resources. –CB Report

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47kg charas, 25kg opium recovered from truck coming from Afghanistan LANDI KOTAL: The Khasadar Force officials have recovered narcotics from a truck coming from Afghanistan. Officials said that 47 kilograms of charas and 25 kilograms of opium were recovered from the secret cavities of the truck. The driver of the truck, Yar Mohammad, was arrested and the vehicle was impounded. Officials, however, were not willing to share information as to how the truck with narcotics managed to cross the Torkham border and then passed through at least two more checkposts at Shaheed Morr and Machini before reaching Landi Kotal bypass road.

Tuesday, March 13, 2018

CUSTOMS BULLETIN

Quetta customs I&I non duty paid goods worth Rs 32.78 million QUETTA wAQAR AHmeD ANSARI www.customsbulletin.com

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he Directorate of Customs Intelligence and Investigation has seized huge quantity of smuggling items includes luxury vehicles tyres, steepness, Iranian diesel, blankets, electronics items, plastic dana, hashish and so many more things during the month of February worth Rs 32.78 million.

Sources told Customs Today that Directorate of Customs Intelligence and Investigation has foiled attempt of computer accessories include portable hard drives, rams, and monitors worth Rs 6 million during special checking.

Sources told that Director Customs Intelligence and Investigation Quetta Muhammad Akram Chaudhary received a tip-off that some smugglers are trying to smuggle computer accessories from Quetta to Karachi. He constituted a raiding team under the supervision of Superintendent Zubair Ali and others. The team enhanced the surveillance in Quetta Road Balili check post and started searching of vehicles. During the search operation, the team intercepted a truck registration no: QKJ-1478 which was going

from Quetta to Karachi. During the checking, the customs team recovered

1000 pot able hard drives (PCs and Laptop systems) 2 thousand rams,

and 80 piece of 17 inch monitors worth Rs 6 million. The customs team

seized all the items and arrested three smugglers including a driver.

petroleum sector gets Rs14507m in 8 months ISLAMABAD

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he government has released Rs 14507.657 million for the Petroleum and Natural Resources Division under the Public Sector Development Programme (PSDP 2017-18) during eight months of the current fiscal year against the total allocation of Rs

15747.839 million. According to the official data, Rs 415.807 million have been for acquisition of four drilling rigs with accessories for Geological Survey of Pakistan, Rs 15.191 million for appraisal of newly discovered coal resources in Badin and adjoining areas of Southern Sindh, Rs 3.596 million for exploration and evaluation of metallic minerals in Bela and Uthal areas of district Lasbella Balochistan, Rs 1.396 for exploration of Tertiary Coal in Central Salt Range Punjab, Rs 9.609 million

for exploration and evaluation of coal in Nosham and Bahlol areas of Balochistan. Whereas, funds have been released for provision of gas to different localities including Rs 387.421 for gas schemes in District Narowal, Rs 238.786 million in district Sialkot, Rs 300.402 million in district Lahore.

Rs 340.466 million in NA132 of District Sheikhupura, Rs 250 million in Peshawar, Rs 252.317 in Swat and Shangla, Rs 142.882 in district Mardan, Rs 700.020 million in Abbottabad, Rs 28.963 million in UC

Darya Gali of Tehsil Murree, Rs 254.437 million in Chakwal, Rs 100 million in District Jhang, Rs 105.357 million in district Sahiwal, Rs 237.610 million in district Okara, Rs 229.272 million in NA-131 of District Sheikhupura, Rs 250 million in district Nankana Sahib, Rs 171.242 million in district Okara, Rs 100 million in district Mandi Bahaduddin, Rs 290 million in district Sargodha, Rs 100 million in district Jhang, Rs 304 million in district Multan, Rs 150 million in district Sahiwal, Rs 100 mil-

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by (Ibne Hassan Offset Printing Press, Shop No. 33 to 36 , Hockey Stadium, Karachi).

lion in Toba Tek Singh, Rs 250 million in district Khanewal, Rs 347 million in district Mianwali, Rs 224 million in District Muzaffargarh, Rs 500 million in district Bahawalnagar, Rs 140 million in district Dera Ghazi Khan, Rs 350 million in district Mansehra, Rs 300 million in district Jhelum, Rs 42 million in Rawalpindi, Rs 214.587 million in district Pakpattan, Rs 196.470 million in district Gujrat, Rs 371 million in district Mian Channu and Rs 32.160 million in district Narowal.