Tuesday, 20 March 2018

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Karachi, Tue March 20, 2018

ISLAMABAD

M ARSHAD

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he Federal Board of Revenue (FBR) has not traced any pilferage of Indian tea in Pakistan which is meant for transit to Afghanistan, sources said.

There has been a consistent import trend in terms of quantity as average quantity imported in a month during FY 2016-17 is around 41 MT/month, and for the Uirst eight months (July-Feb) of FY 2017-18, the same is recorded as 40 MT/month; registering a marginal decrease, they said.

“All consignments of Indian origin tea imported for onward transit to Afghanistan have crossed into Afghanistan and duly acknowledged by Afghan customs online,” ofUicial sources at the Pakistan Customs told Customs Today.

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The source said that valuation of imported tea for home consumption consignments was based on evidential prices determined by customs authorities in consultation with tea associations and market surveys. “At present, black tea is being assessed in the range between $1.75/kg and $2.75/kg depending on quality and origin of import; and green tea is being valued in the range $between 1.2/kg and $1.5/kg.

The incidence of duty/taxes per container carrying tea, on average, on the basis of these values may hover around Rs 1.5 to 3 million considering quantity, quality and origin of import,” the sources added.

The sources further added that the tea consignments destined for Afghanistan were also assessed for duty/ taxes against same values as stated above and leviable duty/taxes are secured through an insurance guarantee furnished by the Afghan importer.

Customs generates Rs4416m surplus income from July to March 10, FY17-18

Customs Export recovers Rs 13.31m from three defaulter companies

FTO directs counsels to conclude final arguments

DG Valuation issues customs values of soft & hard sawn wood

Faisalabad ASO seizes non duty paid tyres & chilli seeds

MCC earned an extra revenue of Rs4416m from July to 10th of March | See pAge 02 |

Customs Export has recovered evaded amount of taxes and duties of Rs 13.31 m | See pAge 03 |

FTO Mian Munawar heard an appeal filed

by Muhammad Shakeel, a cloth dealer | See pAge 04 |

DGValuationhasrevisedthecustomsvalues ofsoftandhardsawnwoodvideValuation | See pAge 09 |

ASO foiled an attempt to smuggle foreign origin tyres and chilli seeds | See pAge 16 |

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FBR withdraws ST zero-rating facility on power to 9 textile units Tuesday, March 20, 2018

Islamabad

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn sales tax zero rating on supply of electricity of nine textile units on the charges of misusing the facility.

An order issued by the FBR on Monday stated it had suspended the facility of zero-rated sales tax on purchase of electricity by nine textile units; eight from Faisalabad and one from Karachi.

customs generates Rs4416m surplus income from July to March 10, fY17-18

ISLAMABAD

ISLAMABAD

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he Customs Welfare Shop at the MCC Islamabad has been closed due to unknown reasons for the last one year. The lower customs staff is demanding its reopening soon. The welfare shop was inaugurated by Sarwat Tahira Habib, former Chief Collector, Customs North Region, on 8th of March 2017. Officials informed Customs Today that consumer and other miscellaneous goods were offered for sale at the shop.

It was added that, on the direction of the FBR, the Islamabad Customs constituted an operating procedure for the welfare shop which were strictly followed. The sources told that a fourmember management committee constituted consisted 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 are signed by the president and all other members. Goods are received by the Customs Welfare Shop from the Customs State Warehouses of the collectorate after the payment of all government taxes. All goods received by the shop were being duly entered in the stock book and ledger, and daily sale statement was also being prepared.

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he MCC Islamabad earned an extra revenue of Rs4416million from July to 10th of March FY2017-18 against an assigned revenue collection target under all the heads.

According to details given by ZuliUkar Ali Chaudhry, Collector Model Customs Collectorate (MCC) Islamabad, that the collectorate received Rs15072.91million under all the heads against an allocated revenue target of Rs10656.75million.

He was added that the collectorate achieved 141.44% growth against an earmarked revenue target under all the heads while it showed 97% revenue performance against an assigned revenue target under the same heads for the entire FY17-18.

He further said that the collectorate has been assigned revenue collection target of Rs15559.23million under all the heads for FY17-18.

The Collector MCC Islamabad told CT that, during above said period, the collectorate earned Rs5139.40million of Customs Duty (CD) against an allocated revenue collection target of Rs4468.79million. He added that the collectorate gained 115.01% revenue against an earmarked target of CD for Uirst eight months and 10 days of March FY1718. The collectorate showed 75% achievement against an assigned an-

customs welfare Shop remains closed due to unknown reasons since a year

nual revenue collection target as CD. It was told that the MCC Islamabad has been set Rs6845.85million of revenue collection target for FY1718. The collector told CT that, during July to 10th of March FY17-18, the MCC Islamabad generated Rs7094.71million of Sales Tax (ST)

against an earmarked revenue target of Rs3689.74million while the MCC Islamabad exhibited 192% increase against an assigned revenue collection target. The collector informed the correspondent that, during above said period, the MCC Islamabad received Rs396.56million as

Federal Excise Duty (FED) against an allocated revenue collection target of Rs419.97million while MCC Islamabad collected Rs2442.24million of Income Tax (IT) against an earmarked revenue collection target of Rs2078.2million during July to 10th of March FY17-18.

iHc relisted three customs reference filed against Adjudication

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ISLAMABAD

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slamabad High Court on Monday relisted three customs cases involving Customs Appellate Tribunal and Collectorate of Customs, Islamabad. Justice Athar Minallah and Justice Miangul Hassan Aurangzeb relisted customs case Uiled by Syed Waqas Ali Shah against Collector Adjudication the Customs Collectorate.

Meanwhile, IHC Division bench com-

prising Justice Athar Minallah and Justice Miangul Hassan dated in ofUice hearing on cases including the one Uiled by M/s Awan CNG Re-Filling Corporation Private Limited. The company had Uiled cases against Collectorate of Customs. The bench had also dated in ofUice hearing on matters Uiled by DG intelligence and investigation against Malik Muhammad Ajmal Khan. M/s Comfort Sales Corporation had Uiled case against ATIR and customs department. M/s Comfort Sales Corporation had chal-

lenged the act of recovery of said amount by commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad. ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty. M/s Comfort Sales Corporation had prayed the court that FBR ofUice had issued a recovery notice to the company which did not hold lawful grounds.

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SHC seeks comments on petition filed by M/s Pantagon International Limited KARACHI: The Sindh High Court (SHC) has directed the customs authorities to file comments on a constitutional petition filed by M/s Pantagon International (Private) Limited, challenging SRO NO 1035/2017 over imposition of a regularity duty on imports of various items, including steel sheets and other similar goods. A two-member bench headed by Justice Munib Akhtar was hearing the petition.

Earlier, counsel for the petitioner stated that it is engaged in the lawful business of import of steel sheets and other similar goods. He submitted that the secretary revenue division issued a notification on August 16, 2017 being SRO 1035/2017.

Boats pilots strike ends, shipping activities resume at kpt

Tuesday March 20, 2018

Karachi

customs export recovers Rs 13.31m from three defaulter companies

KARACHI

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hipping activities at the Karachi Port Trust (KPT) have resumed after the interference of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI). According to the details, FPCCI Vice President Tariq Haleem took serious notice of the strike by the Boats Pilots at the KPT due to which business community was bearing huge losses. The issue was also raised in the KPT Board of Directors’ meeting where the official concerned was directed to pay allowances to the Boats Pilots as shipping activities were badly affected due to the strike. The Boats Pilots had not been given the allowances by the KPT administration for last two month.

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SHc adjourns hearing of vehicles import case till 26th KARACHI

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Sindh High Court’s appellate bench has adjourned hearing of two identical petitions seeking release of used vehicles imported in violation of import policy till March 26. Khuda-e-Dost and Rehmatullah filed the separate but identical petitions seeking release of a Pajero jeep and a Daishatsu Mira car. The vehicles were detained by the Pakistan Customs on ground that these were older than three years as permitted by the import policy order. Ms Dil Khurram Saheen advocate appearing for the petitioners relied on a judgment by a division bench of SHC which was subsequently held by the Supreme Court of Pakistan, giving an opportunity to the importers of vehicles. She submitted that petitioner is willing to pay surcharge also besides already deposited custom duty.

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KARACHI

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he Customs Export has recovered evaded amount of taxes and duties of Rs 13.31 million from defaulter companies which were issued with notices to pay the outstanding dues.

Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Yousuf Textile availed undue beneUits and concessions after importing different consignments by misusing the SRO 568 through Examiner Usman Ali on 19th December 2017. Sources further told that the company was allegedly involved in the tax evasion of Rs 5.45 million.

After detecting the tax evasion, the Customs Export served on it a Uinal notice on 26th February, 2018 to deposit the evaded amount within fourteen days. After receiving the notice, the management of M/s Yousuf Textile deposited the evaded amount in the ofUicial account of the Customs Export on 11th March.

On the other hand, the management of the M/s Glamour Handicrafts also cleared Rs 7.86 million of taxes and duties. Sources told the correspondent that M/s Glamour Handicrafts also availed undue beneUits and concessions and avoided paying taxes according to the customs bylaws. The Customs Export authorities issued to it a Uinal notice on February 28th , 2018. After re-

ceiving the notice, the management of the M/s Glamour Handicrafts deposited the evaded amount of taxes into the ofUicial account on Monday.

Meanwhile, The Customs Export has recovered an evaded amount of taxes and duties of Rs9.89million from defaulter companies which had been issued with notices to pay the outstanding dues.

Sources told Customs Today that, during scrutiny of the import data, it was revealed that M/s Rohail Zari

After receiving the notice, the management of M/s Yousuf textile deposited the evaded amount in the official account of the customs export on 11th March

nAB to probe into people availing amnesty schemes

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KARACHI

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ational Accountability Bureau (NAB) has power under a law to initiate probe against individuals who have availed any tax amnesty, a top ofUicial said.

The government has planned another scheme to give people an opportunity to declare their untaxed offshore assets.

“Previously, amnesties have been announced to

give immunity from tax evasions,” Altaf Bawany, director general of NAB Karachi said. “However, the law allows the bureau to probe into funds obtained through criminal (activities) and drugs (peddling).”

While talking to the ofUice bearers of Karachi Chamber of Commerce and Industry (KCCI), Bawany said NAB could conduct investigation even after an individual avails an amnesty. But, he didn’t mention how many investigations had the bureau initiated against people who

availed at least three amnesty schemes announced during the tenure of the present government.

Under the proposed tax amnesty scheme expected next week, Pakistan’s expatriates or locals who have assets in foreign country would be able to declare their holdings against two percent tax payment if they agree to bring them back or four percent in case they opt for keeping them abroad.

NAB chief said individuals who avail the money whitening schemes are the ‘bull’s-eye’ for the bureau.

Works Karachi availed undue beneUits and concessions by importing different consignments of Zari Fabrics by misusing the SRO 569 through Examiner Majid Khan on December 16 2017. Sources told Customs Today that the company was allegedly involved in tax evasion of Rs05million. After detecting the tax evasion; the Customs Export served on it a Uinal notice on January 23, 2018 to deposit the evaded amount within 14 days.

pak rupee makes more recovery he Pak rupee maintained recovery against the US dollar in open market and remained firm in interbank. As per the local money market, the dollar lost five paisas in open currency market for buying at Rs111.50 for selling at 111.80. The dollar remained firm in interbank at Rs 110.30 for buying and Rs110.50 for selling.

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Foreign exchange rates Tuesday March 20, 2018

Lahore

KARACHI: The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR 2.3043 15.03.2018 CONVERSION RATES FOR 15TH MARCH 2018 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE-25 DEPOSITS) SBP SETTLEMENT VALUE DATE MAR 19, 2018.

customs Appellate tribunal set aside ono in seized container case LAHORE

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he Customs Appellate Tribunal has remanded back an appeal in impounded container case. The appeal was Uiled by Deputy Director, Directorate of Intelligence and Investigation-FBR, Faisalabad against Hameed Sahib.

Muhammad Shabbir Gujjar, Member Judicial Bench-II, examined the record and 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 adjudication authority with the order to hear the case again and pass the fresh speaking order within 45 days.

According to the details, a container loaded with foreign origin/

iMf rep lauds govt economic policies ewly-appointed Resident Representative of IMF Maria Teresa Daban Sanchez lauded the efforts of the government for improving security situation which has given boost to economic activities and enhanced confidence of the business community. In a meeting with Minister of State for Finance Rana Muhammad Afzal. She also appreciated government’s endeavours to increase exports that would help bring down trade deficit. During the meeting the IMF representative also discussed with the minister the spring meetings of the IMF and World Bank scheduled in April. She thanked the minister for the warm welcome and expressed the desire to work in close cooperation with the government during her term. The minister welcomed the IMF representative and wished her a successful tenure in the country. He had exchange of views with her on the current macro- economic situation in the country and said all efforts were afoot to keep up the momentum of economic growth. –CB Report

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local goods was taken into possession by the customs staff. On demand, driver failed to produce documents regarding the lawful import of vehicle and same was impounded under the section 17 of Customs Act-1969. The show cause notice was issued, adjudication proceedings were culminated, department and the owner of vehicle argued in their favour. After hearing the stance of both parties, Order-in-Original (ONO) was passed in favor of the owner of container.

Being aggrieved from the order, appellant filed the appeal before the Customs Appellate Tribunal on the grounds that the Order-inOriginal was passed in a mechanical fashion and without the consideration of law. Therefore the impugned order is liable to be set aside. On the other side, respondent department denied all the allegations.

fto directs counsels to conclude final arguments LAHORE

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ederal Tax Ombudsman (FTO) Mian Munawar Ghafoor heard an appeal Uiled by Muhammad Shakeel, a cloth dealer, against Corporate Regional Tax OfUice (CRTO) Lahore and Uixed the appeal for further hearing on the next date.

According to details, the FTO heard the case in which the counsel for the appellant argued that the Corporate Regional Tax OfUice (CRTO) had failed to resolve the tax refund of the last two years claimed by the company. He said that the CRTO collected excessive tax from Muhammad Shakeel during the last two years. He approached the commissioner concerned many times for issuance of refunds but the CRTO ofUicials did not pay the refunds af-

ter the passage of a reasonable time.

At the end, the company decided to approach the FTO seeking interference in this case. The counsel appealed the FTO advisor to direct the CRTO to clear the refund claims.

The counsel further said that CRTO should refund the excess collection in wake of taxes by the end of Ui-

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nancial year but the situation is quite otherwise. After hearing the arguments from both sides, FTO Advisor adjourned the case until next date for further hearing and directed the parties to appear on said date to present Uinal arguments in the case. The same Uixed case will be heard on next date.

Deputy collector Adjudication tribunal reserves verdict in one appeal declares seizure of Rani Juice as legal he Customs Appellate Tri- hore, Director Post Clearance Audit

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ollectorate of Customs Adjudication Deputy Collector Shahzad Liaquat Ranjha has issued Order-in-Original (ONO) 59/2018 in smuggled Rani Juice case. Brief facts of the case as reported by Superintendent of Customs ASO Preventive that on 28.20.2017 the staff of Anti Smuggling Organization intercepted 260crates of Rani Uloat Juice lying outside Chaudhary Brothers Cargo Service Lahore. On query a person standing near the said juice identi-

Uied himself as Moeen Khan care of AB Traders OfUice New Madina Center Shah Alam Market Lahore and claimed the ownership of the said juice. Thereafter, the examination of the said juice was conducted in presence of the said owner and other witnessed which revealed foreign origin Rani Float Juice Ulavoured Peach drink. On demand the said owner failed to provide any documents in support of lawful import or legal possession of the above mentioned foreign origin juice. –CB Report

Business Summit inaugurated

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ISLAMABAD

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hairman Martin Dow Group Jawed Akhai inaugurated the 2nd Leaders in Islamabad Business Summit, organised in collaboration with Nutshell Forum & the Ministry of Planning, Development & Reforms, on Wednesday at a local ho-

tel. In his inaugural address, while welcoming all the guests, Jawed Akhai quoted the BMI Research from the World Economic Forum website that claimed that Pakistan is among the 10 emerging countries and is expected to contribute the most to global growth over the next decade.

The Leaders in Islamabad Business Summit is Pakistan’s most prestigious and well-attended business summit.

bunal’s single bench-I heard 11 cases on and adjourned all of them for different dates without those cases whose verdicts were reserved. The single bench-I, comprising Muhammad Shabbir Gujar, Member Judicial, heard 11 cases including RC House versus Collector Customs Lahore, Collector Customs Multan versus Pervaiz, AR Chaudhary versus Collector Customs Multan, Ghulam Mustafa versus Collector Customs Faisalabad. The same bench heard cases of Mirza Abid Baig versus Collector Customs La-

(PCA) Lahore versus IC Master, Director Post Clearance Audit (PCA) Lahore versus Kohinoor Cloth House. Same bench heard the appeal of collector customs Lahore versus Ibrar Aslam, Shahzad Textile versus Collector Customs Lahore two appeals and Capital SRL versus Collector Customs Lahore. The parties appear before the court and argued in the favour of respective clients after hearing the arguments customs tribunal reserved verdict in one appeal and adjourned all others. –CB Report

This year the summit features 20 international speakers including distinguished professors from Ivy League Universities and global CEOs. Business delegations from China, GCC and other regional countries are amongst the 800 delegates present at the Leaders in Islamabad Business Summit 2018. The theme for this year’s summit is “Disrupting the Future” where innovators, leaders and future

thinkers have come together to present their ideas. Some of the speakers at the Uirst day of the summit included Naeem Zamindar, minister of state & chairman Board of Investment, Ahsan Iqbal, federal minister for interior and planning, development & reforms, Mohammad Zubair, Governor of Sindh, Bruno Olierhoek, President, OICCI, and Anusha Rahman Khan, minister of state for IT & telecom.

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n the wake of outstanding results in terms of enhancing the tune of revenue collection and number of Uillers in last Uive years, the Federal Board of Revenue (FBR) will continue the policy of different tax rates from Uilers and non-Uilers in the coming Uiscal year. Since the introduction of this policy during Tax Year 2013 the number of Uilers of income tax returns witnessed an increase of 54.03%. Moreover, the increased withholding tax rates for non-Uilers have contributed positively towards revenue emanating from withholding taxes.

The FBR, since 2013, has espoused the policy of introducing higher withholding tax rates for non-Uilers across a wide spectrum of transactions in a bid to broaden the tax base by increasing the cost of doing business for non-Uilers who are non¬compliant taxpayers. “The purpose behind introducing higher withholding tax rates for non-Uil-

Tuesday, March 20, 2018

ers was, Uirstly, to compel such non-Uilers to start Uiling their tax returns to avoid higher incidence of withholding taxes and secondly to procure information regarding non-Uilers so that efforts could be made to bring them within the fold of the tax net. It would also be beneUicial to mention

that if non-Uilers opt to Uile their income tax returns they can claim the tax withheld (at higher rates) against their tax liability” a source at FBR told Customs Today.

In view of the above, the source said that FBR would continue with the policy of charging higher rates of withholding tax from non-Uilers so as to fortify the efforts geared towards broadening of the tax base.

The introduction of the policy of having higher withholding tax rates for non-Uilers has complemented the efforts of the FBR with respect to broadening of the tax base.

The source said that the number of Uilers of income tax returns witnessed a successive increase since the implementation of this policy as many non-Uilers, previously out of the tax net, d e s crea n i have opted to Uile their e h t ver, for non income tax returns to s Moreo e t a r tax ly e g v n i avoid higher incidence i t i d l s o o withh uted p of withholding taxes. g ontrib

ave c anatin filers h nue em e v e r s d axes towar ding t l o h h t i from w

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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

opportunities for foreign investors

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ccording to officials of the Overseas Investors Chamber of Commerce and Industry, Pakistan is visible on the radar of international investors but still there is long way to go to attract foreign investment. The country is facing political uncertainty, inconsistent economic policies and irrational tax rates. Pakistan is one of the heaviest taxed countries in the world and most of the taxes are not only irrational, but rates are also considerably higher. Due to its strong geo-political location, it is difficult for the investors to ignore it for long, but it all depends on the plans and policies of the government to stimulate business, trade and investment activities. Despite the fact that Pakistan is on the radar of foreign investors, political uncertainty, energy shortage and law and order are a few reasons which are keeping the foreign investors at bay. Unfortunately, in this age of modern technology, the government lacks basic infrastructure and coordination among its various components and organs.

This not only leads to policy failure, but also administrative failure and loss of the public money at the end. The policies are made to break and without taking into consideration the ground realities. This also leads to collateral damage for the nation and disappointments. According to the officials, Pakistan is a consumers market of 220 million people with over five percent growth rate in the gross domestic product and offers great opportunities to foreign investors. There is a need to explore areas for new investments where investors from the United States and European Union should make investments. Currently, the country working only 30 percent of its potential and there is a need to push it to the optimum level by attracting investment and stimulating industrial activities. The European companies have made heavy investment in China whereas they could also benefit if invest in Pakistan. So far, Pakistan has poor ranking on the ease of doing business index, but still there exists opportunities for the formal sector to capture the open markets.

The chamber suggests the government to discourage the informal sector and to open new vistas of foreign direct investment in the formal sector.

first step toward reforms I

LAHORE

DR AftAB AfZAL

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t is probably always better to late than never as the government has Uinally decided to improve its position at the ease of doing business index. Pakistan is one of the worst countries in the world where little job is the bigger job when it is concerned with a government agency. Pakistan has also the worst record where most of the laws are scary and are with inherent Ulaws, giving undisputed powers to the government ofUicials to twist the arm of any person any time. The people are even restricted to abide by the provisions of a law when it comes to implementation stage. According

to newspaper reports, the Securities and Exchange Commission of Pakistan and the Federal Board of Revenue have now jointly launched a one-window operation to facilitate the potential entrepreneurs to register their companies and get national tax number without wading through the bureaucratic rigmarole. The move is part of the reforms programme under which the country’s position at the ease of doing business index will be improved. The onewindow facility will also hold the back-end integration between the computerized systems of the two giant organizations. If implemented in a letter and spirit, the facility will provide an opportunity to the entrepreneurs to login

to the eServices portal of the SECP to get their companies registered and receive the NTNs automatically at their email addresses. The government authorities hope the facility will pave the way for achieving higher ranking in the World Bank’s starting-a-business and the composite doing business indicators. This is the most simpliUied procedure for the business registration and a hazing prevention initiative. It will save an entrepreneur of the hassle of visiting different government organizations and to integrate registration procedures. The facility will not only promote investment climate, but also pay the way for documentation of the economy. There is lack of coordination and cooperation between

the government agencies and the new step will facilitate government-to-government technical integration at the process level and will provide a conducive environment for the potential investors in Pakistan. Another important step could be the capacity building of the government ofUicials who do not want to work and who are the big hurdle in every positive initiative. The government should not only ensure that the computer systems should work properly but also ensure the training and attendance of the staff concerned.

The government should tell the ofUicials that it means business and failure of the Uirst practical step toward reforms will be the failure of the economy.

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Customs PCA detects tax evasion of Rs7m by M/s Shamil Enteprises KARACHI: The 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 benefit of the SRO 569/2007. However, the subject items were correctly classifiable under the PCT 2478.2498 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 7 million. The goods were cleared by Head Examiner Rana Nawaz.

pcA detects tax evasion of Rs 8.68m

by M/s khyber Steel karachi KARACHI

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he Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 8.68 million by M/s Khyber Steel Karachi, it is learnt. Sources told Customs Today that M/s Khyber Steel imported a consignment of steel scrap, including (steel used crockery items) and got it cleared from the Port Qasim Karachi vide GDs on November 6, 2017 by paying customs duty at 12 percent after claiming the benefit of the SRO 562/2007. However, the subject items were correctly classifiable under the PCT 2408.2147 attracting customs duty at 16 percent and income tax at 14 percent, thus, by way of mis-declaration of classification, the company evaded/short-paid Rs 8.68 million. The goods were cleared by Head Examiner Usman Basheer. Sources said that the importer violated the provisions of

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Tuesday March 20, 2018

National

Dg Valuation issues customs values of soft & hard sawn wood T

KARACHI

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he Directorate General of Customs Valuation has revised the customs values of soft and hard sawn wood vide Valuation Ruling No: 1266/2018 under Section 25A of the Customs Act-1969.

The Customs values of soft and hard sawn wood were determined vide Valuation Ruling No.917/2016 dated 26.08.2016. As the ruling was old and values in the international market had changed, therefore, an exercise was initiated to determine the customs values of the aforementioned goods under Section 25A of the Customs Act, 1969.

Stakeholders’ participation in determination of Customs values: Stakeholders’ meeting was scheduled on 22.02.2018. The stakeholders were requested to furnish the following documents before or during the course of the meeting: Invoices of imports during last three months showing factual value, Websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current

value can be ascertained, Copies of Contracts made / LCs opened during the last three months showing the value of item in question, Copies of Sales Tax Invoices issued during

last three months showing the difference in price (excluding duty and taxes) to substantiate their contentions on the values. The meeting was attended by different im-

porters. The representatives of KTMG were of the view that prices in the international market has remained the same and only very marginal increased.

financial close deadlines extended for cpec power projects Section 42 (6) & (4A) of the Customs Act-1969, Section 16 read with Section 72 of the Sales Tax Act-1990 and Section 48 of Income Tax Ordinance 2001 punishable under clauses (148) and 172 of Section 478(6) of the Customs Act-1969, Section 78 of the Sales Tax Act-1990 and Section 27 of Income Tax Ordinance 2001 and Section 7-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. It is necessary to mention here that Post Clearance Audit has detected a number of cases during last month of February 2018.

ISLAMABAD

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rivate Power and Infrastructure Board (PPIB) allowed extension in Financial Close deadlines of two 660 MW Thar coal based power projects and 660 kV HVDC Matiari-Lahore Transmission Line being processed under China Pakistan Economic Corridor (CPEC).

The approval for the extension was given by the 115th meeting of the PPIB held here. Chairing the meeting, Minister for Power Awais Ahmed Khan Leghari said that the government realizes the importance of transmission lines in complimenting the upcoming power generation projects. “Current transmission network needs to be strengthened and made reliable to support government’s aim of

achieving sustainability in the system,” he said. He emphasized that the government was working on upgrading the existing transmission network to make it more reliable and efUicient and NTDC has been asked to take the necessary measures. “At the same time private sector is being encouraged to contribute in network expansion,” he said. “As a result, so far, Pakistan’s Uirst ever HVDC Transmission Line project has already been initiated in the private sector under China-Pakistan Economic Corridor (CPEC) while several other projects are being planned to launch through international competitive bidding,” he said. The board approved extension in Financial Close deadline of +660 kV HVDC Matiari-Lahore Transmission Line being processed under the CPEC. The board also allowed extension in Financial Close deadlines

of thar coal based power projects being processed under CPEC which include 330 MW Project by Thar Energy Limited and 330 MW Project

by ThalNovaThar Pvt Ltd. The minister said that the current government believed in the policy of facilitating investors, and extending full support to them for processing and timely completion of their projects. The minister remarked that sustainability in power system is a must for ensuring a balancing between demand and supply situation. “Merely, providing additional megawatts would not be sufUicient to gain real goals. Pakistan’s future lies in the indigenous and renewable energy for which serious efforts are being put in. National Electricity Plan and a new Energy Policy are steps to consolidate these efforts which will act as a guide for future capacity expansions as well as choice of fuels etc,” the minister said. PPIB Man-

aging Director Shah Jahan Mirza briefed the board on various projects being implemented by PPIB under the CPEC. He said that PPIB is successfully meeting the challenging and ambitious timelines of the current government for addition of huge quantum of power generation capacity in the national grid. The meeting was attended by Minister of State for Power Ch Abid Sher Ali, Yousaf Naseem Khokhar, Secretary Ministry of Energy (Power Division), Arif Ahmed Khan, Secretary Ministry of Finance, Shoaib Ahmad Siddiqui, Ministry of Planning, Development & Reform, Muzammil Hussain, Chairman WAPDA representatives of Ministry of Energy (Petroleum Division), Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan provinces and AJ&K, a private sector member, besides, executives director and directors of PPIB and other senior government ofUicials.

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Customs directed to provisionally release kitchen appliances consignment Tuesday March 20, 2018

National court directs investigation officer to arrest owner of non-duty paid car

KARACHI: Sindh High Court has granted provisional release of a consignment of kitchen appliances.

A SHC appellate bench, comprising Justice Munib Akhtar and Justice Mrs Ashraf Jahan, was hearing a petition filed by Fotile Kitchen Works challenging a circular issued by Collector Customs denying benefit of provisional release. The petitioner later tagged the petition with three dozen other identical petitions.

Smuggling of hashish valued at Rs05.50m foiled on an actionable tip-off

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KARACHI

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ustoms Court Judge Syed Faiz Rasool Rashdi on Wednesday directed the investigation officer to arrest absconders in a case of smuggled non-duty paid Toyota Axio-X car bearing registration number BFE-068 1496 CC, model 2007 worth Rs 213 million. The duties and taxes involved are nearly Rs 2.3 million. During the hearing, investigation officer of Customs Collectorate of Preventive, Anti-Smuggling Organization, submitted the first information report. He told the court that a team of Anti-Smuggling Organization raided Garden West Karachi and recovered the smuggled non-duty paid car. The alleged owner of the vehicle sneaked away after seeing the customs team. He further informed the court that after the formalities, customs department seized above mentioned car and case was registered against suspect (yet to be ascertained) by Azhar Malik, Senior Officer Preventive Officer.

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customs official ‘kidnapped’, ‘forced’ to get married Pakistan Customs Service officer posted at Port Qasim, reportedly kidnapped by some unidentified men three days ago, has been freed after his abductors forced him to get married to an unnamed girl. Taimuria Police Station had lodged an FIR on behalf of the brother of the abducted man, who was identified in the first information report as Sabat Noor. Station House Officer (SHO) Taimuria Nawaz Brohi said that Sabat Noor’s first wife, in her statement to the police, had told investigating officers that she had received a phone call from Noor, and the kidnappers had also sent her photos of her husband through a messaging application in which Noor looked badly shaken up, and was saying that his abductors were forcing him to get married. –CB Report

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he Directorate Customs Intelligence and Investigation Quetta aborted an attempt to smuggle hashish worth Rs5.50million during a special checking.

Sources told Customs Today that Director Customs Intelligence and Investigation Quetta Muhammad Akram Chaudhary received a tip-off that some smugglers are trying to smuggle hashish from Quetta into Hyderabad and Karachi.

He constituted a raiding team under the supervision of Superintendent Zubair Ali and others. The team enhanced the surveillance on Kuchlak Highway and started searching of vehicles. During the search operation, the team inter-

cepted a car with registration No: LGD-587 which was going from Quetta to Karachi and Hyderabad.

During the checking, the customs

team recovered 38kg of special quality hashish packaged in 1kg packet. The customs team seized the drug and arrested two smug-

glers including a driver. The intelligence team lodged an FIR against the smugglers and started investigation.

customs court approves bail plea of suspect in diesel smuggling case C

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ustoms Court Judge Syed Faiz Rasool Rashdi on Saturday granted post-arrest bail to suspect namely Ahmed Ali, who was booked for trying to smuggle 25,000 liters non-duty paid foreign origin high speed diesel.

During the hearing, the suspect appeared before the court and moved the bail petition. His counsel argued that the prosecution has not provided any evidence against his client; therefore, the court may grant him bail till Uinal judgment in the same.

After the hearing, the court granted him bail against the surety bonds of Rs 200,000 and directed him to appear before the court on the next date of hearing.

Earlier, investigation ofUicer had produced him before the court and

informed that on a credible information, suspect was intercepted

by Customs Collectorate Hyderbad near Toll Plaza Jamshoro along

with oil tanker loaded with 25,00,000 liters HSD oil which was smuggled for its illegal disposal in open market. After hearing his ar-

guments, court had sent him to jail on judicial remand and directed investigation ofUicer to submit charge sheet against him.

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Customs Appellate Tribunal two customs cases ISLAMABAD: Customs Appellate Tribunal on heard couple of customs matters involving field offices of Federal Board of Revenue (FBR) and directed the respondents to submit their replies at the earliest. Customs Appellate Tribunal’s bench comprising of Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the matters. M/s United Diplomatic Bonded Warehouse and M/s Danial Engineering had filed the references.

Counsels from M/s United Diplomatic Bonded Warehouse and M/s Danial Engineering appeared before the bench and demanded timed from the bench for finalizing preparations for the case. The bench then directed the counsels to finalized the arguments and relating stuff and then appear before the bench next week.

Authorities ordered to display notices against possessors of 5,700 impounded mobiles KARACHI

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r. Arslan, Collector Adjudication Islamabad, directed the authorities to showcase notices against the possessors of 5,700 impounded Nokia mobiles along with the offending vehicles (vehicles used for carrying smuggling goods). It has been reported by the Assistant Collector Investigation and Prosecution (I&P) MCC Islamabad that, on January 7, 2018 in pursuance of information that an attempt would be made to smuggle a huge quantity of foreign origin goods

by Toyota Corolla car bearing registration No: FF-382 into interior Punjab, a car along with 5,713 different types of Nokia mobiles and 3,130 rechargeable Nokia batteries, 587 Nokia chargers

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and 14 kilogram of mobile packings were taken into possession under the Customs Act-1969. It was told that Fazli Rabi, a resident of upper Dir, maintained that why the panel did not take action against above said non-duty-paid smuggling goods and offending vehicles. Sources added that the case will be heard on 27th of March 2018. The collector adjudication has said that any written reply to this show cause notice is required to reach this office at least two days before the date is fixed for its hearing and copy thereof is required to be supplied to the reporting agency. The collector mentioned in the show cause that in case any of the party does not appear on the date fixed for hearing the case will be decided after hearing the party on the basis or material available on record.

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customs court seeks complete challan against suspect in betel nuts smuggling case

Appraisement east karachi uncovers tax evasion in clearance of various items KARACHI

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he Customs Collectorate Appraisement East has unearthed a tax evasion of Rs6.50million in the clearance of different types of marble cutting machines, polish machines, polish material, and different types of marble cutting blades imported by M/s Jafar Marble Accessories Karachi.

Sources told Customs Today that Collector Appraisement East Saeed Akram directed the R&D Section to verify the post-clearance consignment of the importer M/s Jafar Marble Accessories Karachi. During the scrutiny of import data, it was revealed that the importer willfully used the Green Channel in the clearance of the consignment of different types of marble cutting machines, polish machines, polish material, and different types of marble cutting blades and caused the national exchequer a loss of Rs6.50million in terms of duties and taxes. The sources further told CT that a recovery notice was sent to the importer before 14 days. The R&D sources said the importer has also assured the Customs Appraisement of depositing the evaded amount of Rs6.50million within 14 days.

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KARACHI

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he Customs Court on directed the investigation ofUicer to complete investigation and submit a charge sheet against a suspect, Sohail Ali, proprietor of M/s Ajmair Impex, Lahore. The suspect allegedly imported betel nuts in the garb of galvanized plain sheets and evaded duties and taxes through mis-declaration.

According to details, some other suspects were also involved in the smuggling of betel nuts and cases would be registered against them after investigations. During the hearing, the investigation ofUicer of the Customs Collectorate of Appraisement East submitted another First Information Report (FIR) against the suspect and informed that Sohail Ali had deliberately misdeclared description of the impugned goods with the intent to get illegal clearance of the restricted items and avoid duties and taxes to the tune of Rs 3,978,755.

He further informed the court that, they have, thus, contravened provisions 2 (s) 16, 32A, 79 and 121 of the Customs Act, 1969 punishable

Tuesday March 20, 2018

under clauses 1, 8 (i) 9, 14A, 43, 44, 45, 46 and 63 of section 156 (i) ibid read with allied laws and procedure, reportedly, a gang of culprits is engaged since long in illegal removal of the imported transshipment goods en route to Uinal destination in an organized manner. Investigation ofUicer submitted that consequent upon approval of the competent authority, this Uirst information report is lodged

by complainant Muhammad Bilal, Appraising ofUicer, Model Customs Collectorate Appraisement East, Customs House Karachi accordingly for in-depth investigation into the matter. After his arguments, court taken First Information Report into on court record and directed him to complete investigation and submit charge sheet against them on next date of hearing.

pcA detects duties & taxes evasion of Rs 11.25m by garnish Hosiery

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KARACHI

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he Directorate of Customs Post Clearance Audit has detected duties and tax evasion of Rs 11.25 million by M/s Garnish Hosiery it is learnt here.

Sources told Customs Today that M/s Garnish Hosiery imported a consignment of jersey items, used manufacture of T-shirts and pajamas , and got it cleared from the PICT Karachi vide GDs on November 22, 2017 by paying customs duty at 8 percent after claiming the beneUit of the SRO 561/2007. However the subject items were correctly classiUiable under the

PCT 2401.2478 attracting customs duty at 12 percent and income tax at 10 percent, thus, by way of mis-decla-

ration of classiUication, the company evaded/short-paid Rs 11.25 million.

The goods were cleared by Head Ex-

aminer Mumtaz A Khan. Sources told Customs Today that the importer violated the provisions of Section 58 (9) & (2-A) of the Customs Act-1969, Section 25 read with Section 14 of the Sales Tax Act-1990 and Section 69 of Income Tax Ordinance-2001 punishable under clauses (48) and 178 of Section 487(2) of the Customs Act-1969, Section 82 of the Sales Tax Act-1990 and Section 25 & 254 of Income Tax Ordinance-2001 and Section 7-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.

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China Lilang 2017 net profit rises 13.2% on lower tax rate

World Customs

BEIJING: China Lilang, a menswear manufacturer, said its net profit for 2017 increased 13.2% from a year earlier, helped by higher revenue and lower tax payment.

Net profit for the year ended Dec. 31 totaled 611 million yuan ($96.37 million), up from 539.9 million yuan a year earlier, the Hong Kong-listed company said in an exchange filing.

Tuesday March 20, 2018

Afghan traders sign $20.5m in deals at Dubai food show

netherland 2017 avocado exports totalled $580m

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AMSTERDAM

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KABUL

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fghan traders have inked US$20.5 million in signed and potential deals for highvalue agricultural products due to their participation in February at the Gulfood Exhibition in Dubai.

USAID supported 25 Afghan exporters at the February 2018 Gulfood Show, where Afghanistan’s agricultural riches, including world-class pomegranates, saffron, apples, apricots, melons, grapes, nuts, and raisins were on display for international buyers. Gulfood is the world’s largest annual food and hospitality show. Now in its 23rd year, the event showcased 5,000 exhibitors from the food, drink, food services, and hospitality industries.

This year’s exhibition welcomed more than 97,000 visitors in the course of the five-day event.

thailand gained over 200b baht trade surplus in 2017 inistry of Agriculture and Cooperatives’ (MOAC) Spokesman Sorawit Thaneto disclosed that the trade value of Thai agricultural products shipped to ASEAN countries in 2017 increased to 439.13 billion baht, with 328.90 billion baht worth of exports and 110.23 billion baht imports. Thailand gained a total trade surplus of 218.68 billion baht as a result. According to the Office of Agricultural Economics’ SecretaryGeneral Vinaroj Supsongsuk, items with biggest export value were sugar and sugar products, beverages, fruits (longan, durian and mangosteen), natural rubber, rice and grains respectively. Meanwhile, most of the imported items from ASEAN countries were seafood such as tuna, surimi, and sea fish; consumable plants and vegetables such as tapioca. –CB Report

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USAID-supported exporters have yielded tens of millions of dollars in deals since Afghan participation began in 2010. This year, India was the lead buyer of Afghan produce, with 48 percent of the US$12 million in confirmed deals signed at the event, followed by Saudi Arabia, which came in at 17 percent. Potential deals totaled

US$8.5 million. The 2,500 metric tons of produce negotiated included raisins, figs, pistachios, saffron, and pine nuts. ‘As a result of our participation in Gulfood, we signed the largest contract our company has ever received to export Kandahar pomegranates,’ said Mr. Mahmood, the owner of Afghan Red Pomegranate.

china’s two big oil majors urge tax breaks for building gas storage and imports

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op ofUicials from China’s two largest oil and gas producers have urged the government to offer tax breaks for the building of gas storage facilities and importing liqueUied natural gas (LNG) to help avoid another gas crunch in the winter ahead. China National Petroleum Corp (CNPC) [CNPET.UL] President Wang Yilin urged the government to refund value added tax on LNG imports to lower gas costs for con-

sumers. Members of parliament and the Chinese People’s Political Consultative Conference, the Communist Party’s largely ceremonial advisory body, are encouraged to submit suggestions for future legislation during the current Parliament session. The proposals from Sinopec and CNPC come as the nation looks for ways to increase storage capacity for natural gas to avoid a repeat of this past winter’s heating crisis. –CB Report

eru exported 247,000 tons of avocados worth $580 million in 2017, positioning itself as the world’s second-largest supplier of this fruit. According to the Agriculture and Irrigation Ministry, shipments of this Peruvian product mainly Hass avocados grew in volume (27%) and value (46%) compared to 2016.

The main destinations for this fruit were the Netherlands, the United States, Spain, England, China, and Chile; together, they received 95% of the country’s total exported value. Additionally, national production of avocados exceeded 470,000 tons in 2017, a 3.4% increase compared to 2016.

According to an article by andina.com, the Ministry highlighted the good dynamism witnessed in the production of the southern (+15%) and northern (+12%) zones. The regions

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which managed to increase their output levels the most in 2017 despite Coastal El Niño phenomenon impactsMeanwhile, Peru’s avocado exports soared in both volume and value during the 2017 season, according to the Ministry of Agriculture and Irrigation (Minagri).

The entity said export volumes rose 27% year-on-year to 247,000 metric tons (MT), with the value soaring 46% to US$580 million. According to International Trade Center data, in 2016 Peru became the world’s second-larger avocado exporter by volume, ahead of Chile and behind Mexico.

Avocados are now Peru’s third-most-important agricultural export, after coffee and table grapes.

The main markets during the 2017 season were the Netherlands, the U.S., Spain, England, China and Chile, collectively receiving 95% of exports by value.

SA meat recall grows over listeria fears outh Africa raced to withdraw meat products made at a factory found to be the origin of the world’s worst-ever listeria outbreak that has killed 180. Mozambique’s agriculture ministry announced it would immediately ban imports of South African chilled meats, which have been at the centre of the outbreak, in an effort to prevent listeria spreading.

Zambia called on South African retail chains to also withdraw products produced at the Enterprise Food plant 300 kilometres northeast of Pretoria that health officials say was the source of the

outbreak.

Since January 2017, 948 people have contracted listeriosis which is caused by bacteria from soil, water, vegetation and animal faeces which can contaminate fresh food — notably fresh meat. At least 180 have subsequently died, according to official figures. The Department of Health ordered retailers to immediately recall affected products.

The chief executive of Tiger Brands, which owns Enterprise, denied that its products had been shown to be responsible for the deaths. “There is no direct link with the deaths to our products. –CB Report

Russian firm agrees on to pay uS in laundering case

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MOSCOW

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Russian-backed company involved in a decade-long drama that touched the highest levels of the U.S. and Russian governments has Uinally agreed with the U.S. on how to pay a multimillion dollar settlement of a U.S. lawsuit.

Prevezon Holdings Ltd. will make good on its $6 million obligation using escrowed funds from the seizure and sale of New York apartments, according to a Uiling Wednesday in Manhattan federal court. The amount had grown from $5.9 million when the company reached a deal last year with U.S. prosecutors.

The dispute stemmed from $230 million in stolen Russian tax funds

that were laundered out of the country and placed in bank accounts and other assets around the world, including a handful of New York luxury apartments. The matter strained relations between the two countries, leading to a ban on American adoptions of Russian orphans in retaliation for U.S. sanctions on the people involved in the theft.

It even Uigured in accusations of

an alliance between Russia and then-presidential candidate Donald Trump that are the subject of a special counsel investigation in Washington D.C. One of Prevezon’s Russian lawyers is Natalia Veselnitskaya, who met with Trump’s son during the 2016 election in a meeting at Trump Tower that was sold as an opportunity for the campaign to get dirt from Russia on Hillary Clinton.

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Six ships take berth at Port Qasim KARACHI: Brisk shipping was recorded at the port where six ships, MSC Silvana, MSC Saturn, Express Malaku, Sakizaya Wisdom, Dazi Yun and Express carrying Containers, Canola seeds, General cargo and LNG were allotted berths at Qasim International Container Terminal, Grain & Fertilizer Terminal, Multi-purpose Terminal and Pakistan Gasport Consortium Terminal respectively on Monday, 5th March-2018.

Meanwhile four more ships, CMA CGM Narmada, CSAV Tyndall, Maine Dream and Chemroad Journey with containers, Steel products and Palm oil also arrived at outer anchorage of Port Qasim.

uk’s export economy is at its strongest point since 2000 eathrow’s export climate index tracks factors including the consumer confidence of the UK’s main trade partners by their share of UK exports; effective exchange rate and purchasing managers index for UK new manufacturing export orders. In figures that will bolster Brexiteers, the value of non-EU export goods increased by 150 per cent, with Heathrow holding a 30 per cent share in this cargo. Some £48.9bn worth of UK exports that were destined for outside the EU and Switzerland passed through Heathrow. Consumer confidence among the UK’s trading partner nations is on the up thanks to government spending drives in the US and China which continue to enjoy steady growth. The impact of rising oil prices and the increase in the value of the pound in the last three months of 2017 was also cancelled out by UK

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Ports & Shipping

Shipping Activity at port Qasim

philippines exports grow at slowest pace in 14 months ollowing the data, the peso weakened to 52.14 to the U.S. dollar from close of 52.03, not far from a 12-year low of 52.45 reached in mid-February.

The Philippine currency has fallen 4 percent this year. “The trade deficit has narrowed but remains at worrisome levels pointing to an elevated current account gap,” said ANZ economist Sanjay Mathur, adding the slow growth rate in exports was “worrying.” Exports rose 0.5 percent to $5.22 billion in January from a year ago. It was the slowest growth since shipments declined 4.5 percent in November 2016. The export data for December 2017 was revised to show a year-on-year rise of 2.3 percent compared with a previous figure that showed a decline of 4.9 percent. Exports of electronic products, which account for about half of shipments from the Southeast Asian nation, rose 10.8 percent to $2.62 billion, still a healthy growth that prompted some economists to say the slower growth in overall exports may be temporary. –CB Report

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KARACHI

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wo ships, Chemroad Journey and Tiger Pioneer carrying 28,005 tonnes Palm oil and 37,983 tonnes Coal, Maersk Kingston, CMA CGM Narmada and CSAV Tyndall carrying Containers took berths at Qasim International Container Terminal.

Meanwhile two more ships, Soho Trader and Othoni scheduled to load/ofUload Talcum powder and Chemicals also arrived at outer anchorage of Port Qasim during last 24 hours. A total of eight ships namely, CMA CGM Narmada, CSAV Tyndall, Genava, Dazi Yun, Sakizaya Wisdom, Tiger Pioneer, Express and Chemroad Journey are currently occupying berths to load/ofUload Containers, Rice, General Cargo, Soya been seeds, Coal, LNG and Palm oil during last 24 hours.

Cargo handling at the port at 116,645 tonnes, comprising 51,480 tonnes import cargo and 65,165

Tuesday March 20, 2018

tonnes export cargo inclusive of containerized cargo carried in 4,387 Containers (TEUs), (1,430 TEUs imports and 2,957 TEUs exports) was handled during last 24 hours.

Two ships Da Zi Yun and Express sailed out to sea on Thursday morning, while two more ships CSAV Tyndall and Chemroad Journey are expected to sail in the afternoon. Three

ships, Priority, Maine Dream and Milana Qatar carrying Container, Steel coil and LNG are expected to take berths at QICT, MW-4 and EETL respectively on Thursday. While Uive more ships, Torrente, CMA CGM Georgia, GH Chinook, Prandowski and African Macan with containers, Project cargo and Palm Kernal are due to arrive at Port Qasim.

kpt shipping intelligence report producers’ confidence in future trade.

Heathrow chief executive John Holland-Kaye said: “Now more than ever, the UK needs to secure its status as an outward-looking global trading nation. It is clear that Heathrow is essential to trade outside the EU, but as we continue to operate at capacity, we will jeopardise new routes and trade with the rest of the world. Meanwhile, The economics of solar-and-storage in the UK are being proven, according to Anesco, the developer of one such project. Speaking at the Energy Storage Summit in London, Steve Shine, Anesco’s chairman, explained that while the company had not proven the case for subsidy-free solar, the business model for its hybrid Clay Hill project was panning out. –CB Report

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he Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours.

ALONG SIDE (Bulk Oil Pier) OP-I Ethernal Diligence D. Mogas GAC 03/03/18 OP-II Ariane Makara L. Ethanol GAC 05/03/18 ALONG SIDE (East Wharves) 1/2 PaciUic Horizon II L. Ethanol Alpine 05/03/18 2/3 Sea Meray L. Rice East WInd 04/03/18 5 Soho Trader D. Coal Wilhelmsen 04/03/18 11/12 UM Elhanaya D. Coal Wilhelmsen 04/03/18 12/13 Triton Swallow D. Coal East Wind 05/03/18 15/16 Kiran bosphorus D. Gen. Cargo M.T Traders 02/03/18 ALONG SIDE(P.I.C.T) 6/7 Xin Chang Shu D. L. Cnt. P-Delta 05/03/18 8/9 Navios Verano D. L. Cnt. Riazeda 05/03/18

ALONG SIDE(PDWCP): SAPT-4 Ningbo Express D. L. Cnt. United Arab 06/03/18 Along Side(West Wharves) 20 Copenhagen D. Gen.Cargo Gulf Maritime 05/03/18 21 Taj L. Sugar WMA Shipcare 23/02/18 24 Kong Que Song D. Gen. Cargo COSCO 03/03/18 ALONG SIDE (K.I.C.T): 26/27 Wan Hai 503 D. L. Cnt. Riazeda 04/03/18 28/29 Siam Giselle D. L. Cnt. East Wind 04/03/18 29/30 MS Tiger D. L. Cnt. COSCO 05/03/18 EXPECTED ARRIVALS: CONTAINER (GEARLESS) Ever Diamond Green Pak 07/03/18 Not Sched 800 Cnt. 900 Cnt. Mol Emerald Mol Pak 08/03/18 Not Sched 800 Cnt. 1000 Cnt. Talassa COSCO 09/03/18 Not Sched 600 Cnt. 600 Cnt. CONTAINER (GEARED): UAFL Zanzibar Golden 05/03/18 Not Sched 535 Cnt. 400 Cnt. GENERAL CARGO: Damas Crystal Sea 02/03/18 Not Sched Nil 163 G.C

Hermann-S GAC 02/03/18 Not Sched 30,974 Steel Nil Kobe Star GAC 02/03/18 Not Sched 28,716 GC Nil Royal Jade GAC 02/03/18 Not Sched 14,349 Steel Nil Kong Que Song COSCO 03/03/18 Not Sched 6,735 GC Nil Da Zi Yun COSCO 07/03/18 Not Sched 974 GC Nil Lidia WMA Shipcare 09/03/18 Not Sched 25,353 Stell Coils Nil Rickmers Tokyo Delta 11/03/18 Not Sched 19,001 GC Nil COAL: Sbi Hermes Crystal Sea 05/03/18 Not Sched 59,439 Nil SHIPS OFF PORT: Vessel Name Type Agent expected Berth No. Arrival Date Arrival Time Remarks Alam Mulia Coal Crystal Sea 05/03/18 16:00 Kota Kamil Container Ships P-Delta 05/03/18 03:12 APL Austria Container Ships APL 05/03/18 17:18 Astra Centaurus Fertilizer Bulk-Sh. 01/03/18 21:30 1 Enternal Diligence Oil Tanker GAC OP-II 23/02/18 06:12 BW Cobalt Oil Tanker High Seas OP-

II 24/02/18 23:30 Seaodyssey Oil Tanker Alpine 27/02/18 16:18 Horin Trader Oil Tanker GAC 01/03/18 19:06 Sea Duck Oil Tanker Alpine 02/03/18 23:42 Argent Hibisucs Oil Tanker Alpine 05/03/18 22:50 LEGEND: 1 Shifted from B.No.11/12 to O/A. Meanwhile, Following were the movements of ships and cargo handling at the Karachi Port Trust (KPT) during the last 24 hours, ending at 0700 hours. SHIPS ARRIVED: PaciUic Horizon Tanker Noble Coral General Cargo Copenhagen General Cargo MS Tiger Container Ship Ariane Makara Tanker Navios Verano Container Ship Ningbo Exprss Container Ship SHIPS SAILED: CMA CGM Narmada YM Mirinda Noble Coral X-Press Makalu M.T.Lahore CARGO HANDLING TURNOVER: The total cargo handled at Karachi Port during the last 24 hours closed at 196,095 metric tonnes.

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French court gives two PIA flight stewards 2-year jail for drugs smuggling Tuesday March 20, 2018

Business

PARIS: A French court on Tuesday awarded two years imprisonment to two stewards of flag carrier in drugs smuggling case, local media reported.

The convicts – Tanveer Gulzar and Amir Moeen – will be deported to Pakistan after the completion their jail term, the court ruled, besides banning them from visiting France for five years.

On March 10, French authorities arrested Gulzar after four packers of drugs were recovered from hidden pockets of his coat during the body search.

‘cpec is not against any country but for peace’ ISLAMABAD

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eputy Chairman Planning commission, Sartaj Aziz has said that China Pakistan Economic Corridor (CPEC) is vital for the whole region and is not against any country but for the peace and prosperity of all nations around the globe.

He was addressing the session on CPEC during second day of Pakistan Capital investment summit and Expo 2018 held here. Sartaj Aziz said that CPEC is not just about roads and infrastructure but it is all about people to people connectivity for the brighter future of the world. “CPEC

fiA arrests six human traffickers GUJRANWALA

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will transform our country into an economic power that all the Pakistanis wanted,” he added. While commenting on the economic growth, he said that Pakistan remained stuck at merely 3 per cent growth rate from 2006 onwards for almost 7, 8 years but during last 4

Sc dismisses acquittal of former kDA official in Rs500m corruption case

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ederal Investigation Agency (FIA) teams have arrested six accused involved in human trafficking and electricity stealing here from Gujranwala, Mandi Bahauddin and Sialkot district. FIA Deputy Director Mufakhir Adeel said that the accused persons identified as Mudassar Shahzad, Aftab Ali, Muhammad Nazir and Malik Waris were involved in human trafficking while accused Muhammad Akram and Zeesan were held red handed stealing electricity.

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years of current government economic growth witnessed by all and government is eying to achieve 6 per cent growth in current year. He said that Chinese President Xi’s idea of one belt one road is just a concept to building roads , it connects policies, public and intellectuals. He said that

Pakistan is proud that CPEC is Ulagship project of OBOR and Pakistan’s CPEC is far ahead of other countries in terms of progress regarding OBOR project. He mentioned that exports have expanded and China has become the highest export partner for Pakistan. Sartaj Aziz further stated that in the next phase of CPEC implementation, railway infrastructure will be built at greater level.

He assured that Pakistan will become a powerful economy by 2030.

During the session, Director General FWO, Lt. Gen. Muhammad Afzal said that Pakistan is not just a bridge between China and sea but realistically Pakistan is to connect the whole world. He stated that all the law enforcement agencies are well geared up to face any challenge in implementing the CPEC.

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KARACHI

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he Supreme Court has dismissed an acquittal application Uiled by the Karachi Development Authority’s (KDA) former additional director, Mumtazul Haq, who is allegedly involved in land grabbing and corruption of Rs500 million. A two-judge bench, headed by Justice Gulzar Ahmed, threw out his plea after hearing the arguments of the defence lawyer as well as the National Accountability

Bureau’s (NAB) prosecutor at the SC’s Karachi Registry. The judges observed that the applicant was facing allegations of being directly involved in corrupt practices.

Therefore, the judges observed that the applicant may seek remedy, if any, from the concerned accountability court where graft reference against him was pending, in accordance with the law. The country’s top anti-graft watchdog had arrested Haq along with ex-planning director Akhlaq Ahmed and ex-assistant director of master plan Munir Ahmed Khan following the can-

cellation of their bail applications.

According to NAB, the former ofUicials, in collusion with some other persons, had grabbed land reserved for a utilities conduit in Gulistan-eJauhar block one. During investigations, it was established that 13 plots, each measuring 293.33 square yards, were illegally carved out from land kept for the Karachi Water and Sewerage Board and KElectric, the bureau asserted, estimating the total loss to the national exchequer to be around Rs500 million. A total of 22 suspects have been nominated by NAB in this reference.

Sc directs Axact to submit its last ten years tax details ISLAMABAD

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he Supreme Court has directed IT company Axact to submit its tax records for the last 10 years. A three-member bench of the apex court headed by Chief Justice Mian Saqib Nisar and comprising Justice Umar Ata Bandial and Justice Ijazul Ahsan heard the suo motu on the Axact fake degrees case. During proceedings, the chief justice also questioned the sources of funds for Bol TV owned

by Axact. He asked how the channel was able to sustain itself when it did not have any monetary reserves and was not even taking advertisements. He remarked that that the court could order the Federal Board of Revenue (FBR) for an audit of Axact company. He observed that the court should know where the company is getting the money from. The owners of Axact should not be worried if they have not done anything wrong. The counsel for the Pakistan Broadcasters Association (PBA) informed the court that the company’s capital is Rs 7 million whereas its salaries’ head is Rs 8 billion.

Axact’s counsel informed the court that statements of 18 witnesses have been recorded in the case proceedings in Karachi.

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Digital banking increases by 28 percent KARACHI

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igital banking (e-banking) has witnessed 28 percent growth in terms of transactions in value to Rs11.65 trillion by quarter ending December 31, 2017 as compared with Rs9.1 trillion by quarter ending September 30, 2017, according to details released by State Bank of Pakistan (SBP) on Monday.

The transactions in terms of volume have grown by 8.67 percent to 186.7 million for the quarter ended December 31, 2017 as compared with 171.8 million for the quarter ended September 30, 2017.

The digital banking includes RTOBs, ATM, POS, Mobile Phone Banking, Internet Banking, Call Centers/IVR Banking and e-Commerce Channels etc. According to breakup of digital banking, Real Time Online Banking (RTOB) processed 41.7 mil-

lion transactions of worth Rs. 9.8 trillion, of which online cash deposits transactions has the highest share of 47 percent with value share of 19.6 percent. On the other hand, the share of real-time online intra-banks fund transfers is 32.3 percent in volume and 73.2 percent in value of transactions and online cash withdrawals contributed 21.0 percent and 7.2 percent share in volume and value of transaction respectively. As of 31st December 2017, the total number of

Automated Teller Machines (ATMs) installed by 32 banks in the country reached to 13,409 from 12,963 which shows a quarterly growth of 3.4 percent. Out of these ATMs, 10,933 (81.5 percent) are On-site2 ATMs; 2,472 (18.4 percent) are OffSite3 ATMs and 4 are Mobile4 ATMs all over the country. These ATMs processed 115.3 million transactions worth Rs.1.35 trillion. Cash withdrawals contributed to the majority of the ATM transactions both in

terms of volume 102.6 million. (95.0 percent) and value Rs. 1.17 trillion (87.0 percent). Rest of the transactions pertains to Intra and InterBank Fund transfer, Utility Bill Payments, Cash/ Instrument deposit transactions etc. The average size of a single ATM transaction is Rs.11, 729. Nine banks in Pakistan who acquire Point of Sale (POS) machines.

16.4 million transactions amounting Rs. 73.4 billion were processed through these POS terminals.

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IWCCI organizes Women in business festival ISLAMABAD: Islamabad Women Chamber of Commerce and Industry (IWCCI) has organized ‘Women in Business Festival’ (WIBFEST”) festival here at Lok Virsa, Shakarparian.

The day long festival was aimed at encouraging women entrepreneurs in the country. Women participants from Islamabad, Rawalpindi, Lahore, Karachi, Hyderabad, Multan, Sailkot, Peshawar, Mardan and Faisalabad attended the festival.

These women were involved in creative businesses. The fun filled activities were also arranged for kids while other than conventional products, women entrepreneurs displayed different different foods on the occasion.

icci holds reception in honor of winner of gothia cup in china

Tuesday March 20, 2018

Chambers

chinese looking for partners for energy vehicles & elevators

ISLAMABAD

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he Islamabad Chamber of Commerce and Industry (ICCI) hosted a reception in honor of winner of Islamabad Football Association (IFA) soccer team that had won the Gothia Cup China Under-18 Football Tournament 2017 after defeating hot favorites Zhaoqing Lixun FC, China in the final played at Shanyang, China last year. IFA President Saleem Chaudhry, Secretary Syed Sharafat Hussain Bukhari, Team Manager Syed Tanveer, Coach Muhammad Zaman, Team Captain Abdullah Shah, team players, Secretary Information of Pakistan Football Federation Rana Tanveer and ohers were also present at the occasion.

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Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry congratulated IFA soccer team for winning Gothia Cup which showed that Pakistan has great talent of football. He said government should declare football as an industry for its better development. He emphasized that CDA should develop more football grounds in Islamabad to facilitate its better growth. Muhammad Naveed Senior Vice President ICCI thanked IFA soccer team for visiting ICCI. He said those nations achieve better development that focused on promoting sports in youth. He assured that ICCI Sports Committee will cooperate with IFA in promoting football in the region. Saleem Chaudhry, President, Islamabad Football Association said that IFA soccer team went China on self-finance basis as no one had sponsored it.

ISLAMABAD

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delegation of Chinese companies from Lanzhou City of China visited Islamabad Chamber of Commerce and Industry and showed keen interest to Uind partners for escalators, elevators, lifts and energy vehicles in Pakistan.

The delegation was representing manufacturers of heavy duty escalators, elevators, lifts, battery vehicles and others.

Speaking at the occasion, Xuexian Pei, Head of Chinese delegation said that CPEC had put Pakistan and China on long-term business partnership and they have come to Pakistan to Uind partners for achieving win-win results. He said that Lazhou Yatai Eastern Elevators Co. Limited was manufacturing heavy duty escalators, elevators and lifts and it was looking for local partners in Pakistan for these products. He said another member of the delegation was manufacturer of energy vehicles that operated on battery. He said the vehicle took 6 to 8 hours in full charging and ran up to 150 kilo-

meters. He said that recharging station would be set up to recharge battery-operated vehicles. He said their main purpose of visiting Pakistan was to identify local partners for these products in Pakistan. At this occasion, they gave a detailed presentation on their products.

Addressing the delegation, Muhammad Naveed, Senior Vice President, Islamabad Chamber of Commerce and Industry said that CPEC has created plenty of new business and investment opportunities in Pakistan and it was the

right time for Chinese investors to bring technology and set up joint ventures in Pakistan. He said that many big projects were under construction in Pakistan that needed heavy duty escalators, elevators and lifts and Chinese companies should shift their plants to manufacture these products in Pakistan. He said Pakistan was an attractive market for automobiles and Chinese company should set up energy vehicles manufacturing plant in Pakistan.

This way they would not only meet the needs of local market and they

french envoy stresses for mutual trade ties SIALKOT

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rench Ambassador to Pakistan Mr. Marc Barety has stressed the need for strenuous efforts to further boost mutual trade ties between Pakistan and France. Addressing during the meeting with Sialkot exporters here at Chamber of Commerce and Industry (SCCI) on Tuesday, he said that France was keen to boost mutual trade ties with Pakistan, pledging to make efforts to remove all hurdles in this regard.

He said that Pakistan business community should ensure maximum exports to France and other European Union countries through France by taking full advantage of GSP Plus status.He said that Pakistani businessmen would be most welcomed in France.He invited

Sialkot exporters to divert their business activities to France, saying that Sialkot exporters are the much aware of the international quality standards and they also have a great potential to explore and capture international trade markets of France and EU countries through France by exporting their diversified traditional and non-traditional export products.

He assured Sialkot exporters their easy access to international French trade markets.The French envoy also highly hailed the Sialkot exporters’ initiative of establishing their own private international airline namely ‘Air Sial’ after establishing Sialkot international airport on self help basis. He said that Sialkot exporters had set a great precedent of self help for the world by establishing these mega projects.

SCCI President Zahid Latif Malik

said that Sialkot exporters had a great potential to explore and capture the international trade markets of France by exporting their world class traditional and non-traditional export products. For improving bilateral trade, Sialkot exporters suggested that exchange of trade delegations and one-to-one meetings of businessmen of both sides may be arranged. The SCCI President revealed that there was no doubt to say that Sialkot-made Sports Goods, Surgical Instruments, Leather Products, Gloves of all sorts, Textiles Items, Sports Wear, Martial Arts Uniforms & Accessories, Musical Instruments, Kitchen Ware, Hollow Ware, Knives, Cutlery items and Military Uniform Badges etc. could Uind a good market in France. Earlier, the French Ambassador also visited several leading industrial units of Sialkot.

would be able to export their products to regional countries as well.

He said that ICCI would set up a CPEC Facilitation Centre where its members would also be taught Chinese language so that they could easily communicate and materialize successful business deals with Chinese entrepreneurs. Nisar Ahmed Mirza, Vice President ICCI thanked the Chinese delegation for visiting Chamber and hoped that their visit would culminate in Uinalization of some good business deals between the private sectors of both countries.

icci for promoting youth entrepreneurship usiness community here on urged the government for introducing business subjects from school level in order to promote entrepreneurship in youth, which was comprising over the half of local population. Addressing the opening ceremony of Savvy School by Aspire Group of Colleges, Senior Vice President Islamabad Chamber of Commerce and Industry Muhammad Naveed said that entrepreneurship should be fostered in youth right from the school level and urged the government for taking measures to make entrepreneurship subject a part of school syllabus so that the youth could consider to carve out its career in entrepreneurship. –CB Report

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Amendments in sales tax procedure to maximize compliance: DG PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) made certain amendments in the Sales Tax Special Procedure (withholding Agents Regulation 2015) in its 28th authority meeting held in the committee room.

According to a press release, the meeting was chaired by Muhammad Nasir Khan, Director General KPRA and attended by all the Directors of the Authority. During the meeting, Fazal Amin Shah, Deputy Collector presented the needful amendments for voting to members. The desired amendments were unanimously passed by the authority members.

Tuesday, March 20, 2018

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faisalabad ASo seizes non duty paid tyres & chilli seeds FAISALABAD nAeeM SHeikH

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he Anti-Smuggling Organization (ASO) foiled an attempt to smuggle foreign origin tyres and chilli seeds worth Rs984,000 involving duty and taxes Rs6,50,000 during an action. Sources told Customs Today that Collector Asif Mahmood Jah received credible information that foreign origin tyres and chilli seeds are being smuggled into Faisalabad. He immediately constituted a team consisting Superintendent Tanveer Raza Naqvi, inspectors and other staff of the unit.

The ASO team raided godown of M/s Lucky Karachi Goods Agency and recovered foreign origin tyres 54 pieces and chilli seeds 150 bags weighing 1500 kilograms that were being transferred into Faisalabad from Lahore. The ASO team asked the owner who was identiUied as Arif Ali son of Ghulam Rasool to produce documents regarding the possession and transportation of these items but he failed to provide any relevant documents. After his failure the ASO team seized the tyres and chilli seeds under section 168 of the Customs Act 1969 for violation of section 2(S) 16 and 18 of the Customs Act 1969.

Smuggling major hurdle in pakistan-Afghan trade LAHORE

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muggling is obstructing the legal trade between Pakistan and Afghanistan, therefore, this issue should be tackled through rationalizing and removing the tariff barriers.

This was stated by Secretary General of Pak-Afghan Joint Chamber of Commerce & Industry (PAJCCI) Faiza Zubair while talking to

LCCI Acting President Khawaja Khawar Rashid, Vice President Zeshan Khalil and Executive Committee Members here at Lahore Chamber of Commerce & Industry on Tuesday. Awais Saeed Piracha, Fahim-ur-Rehamn Saigol and Lala Pervez were also present on the occasion. Fauzia Zubair said that smuggling should be eliminated with iron hands as it was equally destructive for the both countries.

She said that regulatory duty imposed by Afghanistan on Pakistani goods was 400 times more than RD imposed by Pakistan on Afghani products. She said that

mutual trade could not grow in the presence of such duty structure.

She added that there was a need of an Export House for check and balance of the quality speciUications of export goods of both countries before full payments to overcome trust deUicit. She said that Afghan Businessman loved to work in Lahore. They needed progressive support of Lahore Chamber for work here. There were some hotel reservation issues in Lahore, asserting that a comprehensive proposal from the Lahore Chamber of Commerce and Industry was required about bilateral trade prob-

lems and their solutions in Afghanistan and central Asia. She viewed, “Economically and socially we can resolve the political issues of the two countries. That is why we are going to arrange a grand combine meeting of all Chambers of Pakistan very soon to discuss the export issue of the countries.”

On this occasion, LCCI Acting President Khawaja Khawar Rashid said that bilateral relation between Pakistan and Afghanistan were very important for the peace and development in the region. If the relations between the both were not good due to some internal or

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external reasons, it directly affectef their bilateral and transit trade. He said that Pakistan was the best option for exports and imports for Afghanistan. He mentioned that in 2010-11, the total volume of Transit Trade was $3.8 billion which was exceeded to $3.5 billion in 2015-16. In 2016-17 with a decline the trade volume remain $2.9 billion. But hopefully it would be $3 billion by the end of Uiscal year 2017-18. He said that Pakistan’s exports to Afghanistan were wheat, sucrose, soap, tea, footwear, carpets, paper & paperboard, pharmaceutical goods etc.