March 29 layout 1

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PakISTaN’S fIRST INDEPTh NEwSPaPER ON CUSTOMS

Daily

Vol 1 Issue No. 317

Karachi, Tue March 29, 2016

ISLAMABAD

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irectorate General of Customs Intelligence and Investigation Director General Imtiaz Ahmad Khan will preside over an important meeting on March 29, 2016 (Tuesday) to discuss ongoing anti-smuggling campaign. The meeting will be held at Customs Intelligence Headquarters, Islamabad and ofOicials of Model Customs Collectorates and intelligence from all over the country will participate in the meeting.

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Representative of custom collectorate Peshawar, Sialkot, Faisalabad, Lahore, and capital territory will attend the meeting to discuss all aspects of anti-smuggling campaign.

In the meeting, the DG will review the ongoing anti-smuggling campaign, which had been launched on February 17, 2016, besides discussing that how customs collectorates can curb the smuggling of non-customs paid goods. It will also be discussed in meeting that for how long this campaign should be continued and what measures can be taken to make it more effective.

OfOicials of Islamabad Customs said that anti-smuggling activity played an important role to save the national kitty and local traders.

Customs Appraisement collects Rs 3,467m in first 20 days of March

Islamabad Customs seizes cloth, perfumes and tea worth Rs 11m

Dar urged to put economy on right track thru SME-friendly policies

Sialkot Customs issues rebate cheques amounting to Rs 320m to exporters

Pakistan making gradual progress in tourism sector: Ahmer Malik

The Customs Appraisement has recovered Rs 3,467m customs duty | SEE PagE 02 |

In an ongoing anti-smuggling campaign, the MCC seized textile fabric | SEE PagE 03 |

The local business community has urged Ishaq Dar to consider their proposals | SEE PagE 04 |

The Customs Collectorate has issued rebate cheques amounting to Rs 320 | SEE PagE 12 |

Pakistan needs to market itself as tourism destination as it is endowed | SEE PagE 09 |

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Ministry recommends surge in tobacco taxes in budget Tuesday, March 29, 2016

National

ISLAMABAD: The Ministry of Health has suggested increase in taxes on tobacco products in the upcoming budget (2016-17). The recommendations have been formulated by the Technical Working Group, which comprises representatives of the Federal Board of Revenue (FBR), the World Health Organization (WHO), the World Bank, and the Tobacco Control Cell. The experts have recommended that lower slab of all brands of cigarettes be taxed at the rate of Rs44 per pack of 20 cigarettes (from Rs14.20 to Rs 22 per 10 cigarettes), with annual adjustment to tobacco tax rates introduced to minimize the impact of inflation of per capita income growth.

Customs appraisement collects Rs 3,467m in first 20 days of March

Directorate of R&a completes 80pc working to launch form-I KARACHI

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LAHORE

M haYaT

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he Customs Appraisement has recovered Rs 3,467 million customs duty, sales tax, income tax and FED (Federal Excise Duty) during the Oirst 20 days of March 2016, registering a growth of 36 percent. According to the ofOicial data, the collectorate collected Rs 1,149 million against Rs 933 million during the same period last year.

The collectorate collected Rs 2,047 million sales tax during the period under review against Rs 1,381 million last year.

Similarly, the Customs Appraisement recovered Rs 264 million income tax during the period against Rs 237 million last year. The collectorate collected Rs 6 million FED during the period under review against Rs 4.57 million last year.

Overall, the Appraisement collected Rs 3,467 in Oirst 20 days of March.

Meanwhile, The Collectorate of Customs Appraisement has collected Rs 42,610 million revenue up to March 21 for the Oinancial year 2015-16. The collectorate has registered a growth of 25 percent as compared to the same period of the last Oinancial year.

The collectorate collected Rs 14,547 million customs duty during the period under review against the target of Rs 13,979 million. The col-

he Directorate of Reforms and Automation (R&A) has completed its 80 percent working on introducing Form-I for checking the veracity of the imported consignments, it is learnt here. The sources in the Directorate of Reforms and Automation Department informed Customs Today that a pilot programme has been finalized in order to run automation clearing system (WeBOC) of the Pakistan Customs and it would be practically imposed as a “Pilot-run” project by April 2016. The sources while elaborating the entire automated system informed Customs Today that the Federal Board of Revenue-FBR has decided to introduce automated software which is to be used the veracity of imported consignments and to curb the underinvoicing and tax-evasion activities.

“Under the newly introduced automated software, the importer and clearing agent should declare their foreign exchange which they were use to import the consignments on Loose Container Load (LCL) with their respective banks, adding that the foreign exchange which they were declared should tantamount to the actual value of the imported consignments”, sources revealed.

lectorate collected Rs 23,457 million sales tax against the target of Rs 20,286 million. The collectorate collected Rs 4,491 million income tax against the target of Rs 3,56 million during the period under review.

Similarly, the collectorate collected Rs 114 million federal excise duty against Rs 121 million last year during the period under

review. Overall the collectoarte collected revenue of Rs 14,547 million including all taxes. Meanwhile, Customs Preventive and Appraisement have jointly collected duty and taxes worth Rs 7,904 million during the month of February 2016. As per details, the Customs Appraisement registered a growth of 16 percent by collecting Rs

5363 million against the assigned target of Rs 4609 million while the Customs Preventive collected Rs 2541 million against the target of Rs 2794 million. The Customs Multan and Faisalabad have also shown excellent performance by collecting Rs 4,771 million during the seventh month of the fiscal year 2015-16.

ShC directs customs to release consignment of engine parts S

KARACHI

M BILaL

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indh High Court directed Customs authorities to release a consignment of engine parts for vehicles, on condition that petitioner will secure the fine and penalty through post-dated cheques. Justice Munib Akhter was hearing an application filed by M/s Chief Auto Center (Pvt) Ltd. During the hearing, the counsel

of the petitioner made grievance that order of the last hearing has not been complied yet. However, the counsel for the Customs authorities stated that though the petitioner has deposited the duty and taxes along with differential, but has not secured fine and penalty as provided in the show cause notice.

“In case the petitioner secures the fine and penalty through postdated cheques, the respondents would release the subject consignment,” the court directed.

Earlier, the counsel of the petitioner stated that petitioner is an importer/trader of automotive/ engine replacement parts of vehicles, including earth moving and other machinery etc. The petitioner imported Japanese origin 10.466 metric tons of lines and piston ring sets for diesel engines of assorted brands/models classifiable under H S Code 8409.999 and use able in excavators, bulldozer, fork-lifters etc, and declared the same vide GD no KAPW-HC-62483

on 8th October2015.

According to the petitioner, the consignment was examined by Customs authorities at the value of $5.50, as opposed to the declared value of $ 1.50, upon payment of duty & taxes, after all requirement petitioner sought release of the consignment.

However, it was informed that same was under the respondents’ hold and thus could not be released after that it was communicated that subject goods were en-

gine parts for vehicles of chapter 87 of Pakistan Customs Tariff and thus classifiable H S Code 8409.9910( entailing 35% customs duty and hereinafter the higherduty PCT heading). The Importer said that it is clearly established that subject goods are usable in earth moving and other machinery. The court was requested to direct the respondents to release consignment. The court was requested to direct the respondents to release consignment.

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Inland Revenue authorised to check suspected bank accounts KARACHI: Federal Board of Revenue (FBR), through a notification, has empowered the Inland Revenue department to probe into the suspected bank accounts and sources of terror financing.

The notification said the FBR has sanctioned the Directorate of Intelligence and Investigation of Inland Revenue (I&I-IR), Karachi to investigate around 500 cases falling within the jurisdiction of Large Taxpayers Unit (LTU-II) Karachi.

Now, the I&I-IR wing will scrutinise suspected bank accounts, detect sources of terror financing and recover black money.

federal Service Tribunal will hear 10 cases filed by fBR employees

Tuesday March 29, 2016

National

Islamabad Customs seizes cloth, perfumes and tea worth Rs 11m

ISLAMABAD

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he Federal Service Tribunal (FST) will hear around 10 cases on Monday (today) filed by employees of the Federal Board of Revenue (FBR). The appellants had approached the FST, seeking relief pertaining to their departmental promotions, regularization and seniority matters. A division bench of the FST comprising members, Muhammad Arshad Bhatti and Syed Rafique Hussain Shah, will hear the cases filed by Aleem Ahmed, Gulzar Shah, Farukh Abbas and others.

Meanwhile, another bench comprising members, Dr Nazir Saeed and Muhammad Javed Kasi, would hear the promotion matters.

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Multan RTO reshuffles five Inland Revenue officials MULTAN

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he Regional Tax Office of the Federal Board of Revenue has reshuffled five Inland Revenue officials on the directions of the chief commissioner. According to details, Deputy Commissioner Inland Revenue Miss Misbah Nawaz has been transferred from audit unit Muzaffargarh to RTO Multan with responsibility of staff officer, personal assistant to the chief commissioner. Assistant Commissioner Sadia Nadeem has also been transferred from IP unit 11 to Enforcement and Collection (E &C) audit unit 6 special zone Multan. Inland Revenue Officer Muhammad Shah Jehan Durrani has been transferred from special assistant of commissioner Inland Revenue to withholding tax unit 7 and also he is also given additional charge of enforcement and collection 7 unit audits of Muzaffargarh.

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ISLAMABAD

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n an ongoing anti-smuggling campaign, the Model Custom Collectorate seized textile fabric, imported perfumes and black tea worth Rs 11.310 million.

Following the credible information received through Islamabad Customs Collector Arslan Subuctagaen, a team of ofOicials under the supervision of Superintendent Zargam Dil conducted raid and intercepted a Mazda Truck bearing Registration No. LES-15-7848 near Rawat. The ofOicials recovered 1823 kilogram of textile fabric, including bosky and cotton, 375kg black tea, 20,966 bottles of perfumes of assorted brands. The ofOicials asked the person concerned named Iftikhar Khan to show documents regarding the legal import of items but he failed to do the same. Therefore, the customs ofOicial conOiscated the consignment following the customs laws. The Mazda truck carrying smuggled goods was coming from Peshawar to Islamabad, when it was stopped for checking. The fabric was china made, while the perfumes were European made. FIR has been lodged against the accused person; Iftikhar Khan Resident Attock and he is also under arrest.

Meanwhile, By adopting modern techniques and developing coordination with law enforcement agencies (LEAs) to curb the smuggling

in country, the revenue generation in shape of customs duty can be increased by four times.

This was stated by Model Customs Collectorate Collector Arslan Subuctagaen during an interview with Customs Today, adding that Islamabad Customs has inked agreement with the law enforcement agencies i.e. local police, motorway police and National Highway Authority (NHA) to tighten noose around smugglers.

Islamabad Customs Collector arslan Subuctagaen, a team of officials under the supervision of Superintendent Zargam Dil conducted raid and intercepted a Mazda Truck bearing Registration No. LES-15-7848 near Rawat. The officials recovered 1823 kilogram of textile fabric, including bosky and cotton, 375kg black tea

Quetta Customs seizes smuggled aluminium KARACHI

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waQaR ahMED aNSaRI www.customsbulletin.com

irectorate General of Customs Intelligence and Investigation has recovered a huge quantity of smuggled aluminium sheet and aluminium scrap.

Sources informed Customs Today that Director General Customs Intelligence Imtiaz Ahmad Khan received information about smuggling

attempts. He directed Collector Quetta to use all possible resources to thwart the attempts. The Customs team intercepted a vehicle which was coming from Chaman and recovered 18 tons of aluminium sheets, 4 ton aluminium press bundle, and 2 ton other goods. It is pertinent to mention here that the Customs intelligence recovered 300 kilogram of charas, six luxury vehicles and Iranian diesel during the Oirst 20 Oive days of March. The Customs team also arrested six accused

persons during a crackdown.

Meanwhile, Directorate of Customs Intelligence and Investigation authorities foiled an attempt to smuggle three non-duty paid vehicles to Afghanistan and also impounded two chassis frames.

Sources informed Customs Today that customs authorities received credible information that an attempt will be made to smuggle nonduty paid vehicles to Afghanistan, after which he immediately constituted a raiding party.

In this regard, a wireless control room has been developed to have direct communication to make liaison among motorway police, NHA and customs ofOicials, he informed.

The ofOicials of motorway police and NHA through this system could inform the customs ofOicials directly, if they found any movement of allegedly smuggled items on the roads, he said. To curb the smuggling in region, a high-level meeting was held in Islamabad.

Customs seizes heroin worth Rs 15m at airport akistan Customs has arrested a couple at Jinnah International Airport Karachi on the charges of narcotics smuggling. According to a Customs Preventive official, the couple was intending to travel to Saudi Arabia. High quality heroin was recovered from their possession which was stated to be worth Rs 15 million, he added.

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WAPDA delivered 31.88b hydel units to national grid last year ISLAMABAD: The Water and Power Development Authority (WAPDA) hydel power stations contributed about 31.88 billion units of low-cost hydel electricity to the national grid in 2015, with 0.66 per cent growth over the previous year. The official sources told APP that 208.75 million more hydel units were generated as compared to last year (2014). They said as many as 2.95 billion units were delivered to the national grid system during the first two months of the current year (January and February 2016) registering increase of 8.78 per cent units. This increased generation was achieved due to better hydrological condition and efficient operation and maintenance of hydel power stations, they said.

Tuesday, March 29, 2016

Business

PSX crosses 32,000 mark KARACHI

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pened with negative note, the Pakistan Stock Exchange (PSX) gained 27.77 points to take the tally to above 32,000 mark and reached 32904.32 points level at closing on Monday.

The stocks recorded the highest trading level of 32986.89 points and lowest level of 32736.74 points, with the volume of 86.37 million shares, having about Rs4.56 billion value. As many as 322 companies were active; of which 140 advanced, 159 declined and 23 remained unchanged. Cement was the top traded

Biomass cell set up to assess crop production SIALKOT

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crop biomass cell has been set up in Punjab Agriculture Department for assessing the production of crops and evaluating biomass for generating electricity from alternative resources in the Punjab. Sources in Agriculture Department told APP on Sunday that the basic concept of setting up the centre was to evaluate biomass from crops waste and to gather information of waste of important and small crops across the province.

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sector with 16,104,700 volume, while commercial banks remained second with 9,293,700 volume.

The three top traded companies were Dewan Cement with a volume of 4,995,500 and price per share of 12.99 (0.22), Pak Int.Bulk with a volume 4,515,500 of price per share of 27.57 (0.64), Dewan Motors with a volume 4,324,000 of price per share of 9.58 (0.19).The top three gainers were Unilever Foods with price per share 5500 (200), Bata (Pak) with price per share of 3400 (40) and Atlas Battery price per share of 563.97 (18.96). The top three losers were RaOhan Maize XD with price per share of 7495 (-105), Pak Tobacco with price per share of 1140 (-60) and Nestle Pak per share of 6690 (10). Earlier, the Pakistan Stock Exchange (PSX) opened week with

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he local business community has urged Federal Finance Minister Ishaq Dar to consider their proposals for putting the economy on the right track through SMEfriendly policies.

In a statement, Union of Small and Medium Enterprises (UNISAME) President ZulOikar Thaver said the SME sector constituted a major chunk of the country’s

he Punjab government is implementing a comprehensive programme for the promotion of horticulture in the province and development projects are being beautified through horticulture.

Chief Minister Muhammad Shahbaz Sharif said this while addressing a meeting through video link here at Civil Secretariat to review matters regarding beautification of cities through horticulture and developing recreational places and new grounds for promotion of sports activities among youth.

The meeting also decided to establish horticulture and landscape training institute, while approval was given for tree plantation along 40kilometer railway track from Shahdara to Raiwind. The chief minister directed that measures should also be taken for promotion of recreational activities along this track. He also directed that a steering committee should be formed to propose immediate measures for establishing the horticulture and landscape training institute. Shahbaz Sharif said that in addition to controlling pollution, plants and flowers enhanced beauty of cities.

T negative note and lost 88.23 points in early trading to reach 32788.32 points level. Despite opened with

negative note, the stocks gained 74.91 points to reach 32951.46 points level till midday.

Dar urged to put economy on right track thru SME-friendly policies CUSTOMS BULLETIN REPORT

Punjab implements robust programme to promote horticulture: CM

economy, and unless the policy makers focused on the primary, secondary and the services sectors, the economy would not grow. “The government cannot afford to neglect the micro and SME sectors,” he opined.

Thaver also stressed the need for adopting modern banking, leasing, insurance and logistics. “UNISAME has submitted long and short-term measures for making the SMEs competitive, efOicient and growth-oriented,” he said.

He appreciated the efforts of the State Bank of Pakistan (SBP) for making Oinancing affordable, but re-

gretted that it was not accessible.

“To make it accessible, the sector needs SME speciOic bank with countrywide branches.

The UNISAME president also asked the commercial banks to take interest in the SME sector, too. “The commercial banks are inclined to fund the public-sector enterprises, but not the private-sector ones,” he complained. Underscoring the need for providing an enabling environment to banks for Oinancing the SMEs, Thaver said SME Credit Guarantee Insurance institutions needed to be strengthened.

Next ‘My karachi Exhibition’ to highlight gwadar Port, CPEC KARACHI

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he 14th My Karachi Exhibition 2017 will highlight the potential and raise awareness about opportunities of Gwadar Port and CPEC projects.

On the conclusion of 13th My Karachi-Oasis of Harmony Exhibition, Businessmen Group (BMG) Vice Chairman Zubair Motiwala and

Karachi Chamber of Commerce & Industry (KCCI) President Younus Muhammad Bashir addressing a press conference said that they announced that next year’s 14th My Karachi-Oasis of Harmony Exhibition will also be held with same zeal and enthusiasm on April 7-9, 2017 at Karachi Expo Center.

The immense participation of foreign diplomats and exhibitors at 13th My Karachi-Oasis of Harmony Exhibition clearly indicates that this

exhibition has once again succeeded in attaining the prime objective of promoting the positive image of Pakistan. Zubair Motiwala, while terming Gwadar Port and CPEC as the most signiOicant projects, said that KCCI will now be focusing on how the business and industrial community of Karachi can beneOit from these mega projects. To a query, he pointed out that the federal government was invited to participate in 13th My Karachi – Oasis

of Harmony Exhibition but nobody from federal government showed up to take ownership of My Karachi Exhibition. He was of the opinion that the federal government must come forward to participate in this exhibition and they were welcome to take the ownership of My Karachi Exhibition as done by the Sindh government which would surely encourage the business and industrial community of Karachi to strive even more for promoting the positive im-

age of Karachi, besides making this exhibition an international event.

He said that My Karachi was constantly being staged for the past 13 years with a view to promote the positive image of Karachi and the overwhelming participation of foreign diplomats in this exhibition has paved way for attaining this objective. Speaking on the occasion, Consul General of Switzerland highly appreciated KCCI’s efforts to promote the positive image of Karachi.

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Tuesday, March 29, 2016

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ollector Customs Zulifqar Ali Chaudhry has asked importers and exporters to use Faisalabad Dry Port instead of routing their consignments through Karachi Port.

Holding a meeting with local traders and industrialists, Chaudhry said that the trend has decreased the trade volume at the local port. Faisalabad Dry Port Trust Chairman Sheikh Mukhtar Ahmad and prominent industrialists and a large number of importers and exporters were also present on the occasion.

The Collector Customs further said that since assumption of charge, he cleared 300 stuck-up containers out of which 41 containers were reportedly de-sealed already.

Hence by taking special initiative, he resolved this issue up to the entire satisfaction of importers and exporters.

He referred to the Punjab chief minister’s statement wherein he stated that 70 percent of the export was based from Punjab and Faisalabad has a major share in it.

He urged Faisalabad exporters to route their consignments through Faisalabad Dry Port so the adequate revenue might be generated and the port may be upgraded.

He appreciated the efforts of Chairman FDPT Sh. Muhammad Ahmad and founder Chairman Mian Muhammad Latif to revive the FDPT activities. He further disclosed that he had taken special initiatives to curb the Customs personnel involved in malpractices. He announced that undocu-

mented import commodities would be given time frame of seven days to present the relevant documents otherwise action would be taken in accordance with law.

The Collector Customs ensured to direct the concerned quarters not to receive any undue penalties against the law.

Meanwhile, The Anti-Smuggling Organisation (ASO) has seized smuggled items worth Rs 5.731 million and registered Oive cases during the third week of March, 2016.

Following the instruction of Collector Dr Zulfiqar Ali Chudhary, the ASO team launched a campaign under the supervision of Deputy Collector Rana Falik Shair.

The ASO team, comprising Superintendent Saeed Joyia, Inspectors Muhammad Safdar, Abdul Jabbar, Azhar Hussain Jafri and Zulafqar Ali, sepoys Hafiz Naseer Ahmed, Muhammad Abdullah and Afzal Hussain, participated in the raids.

As per details, the ASO impounded two non-duty paid vehicles worth Rs 2.5 million, 680 kilogram of smuggled Indian tea worth Rs 258,784, tyres and tubes worth Rs 25,917, electronic goods worth Rs 1.87 million and others miscellaneous items worth Rs 1.077 million. The officials confiscated the items after the owner of the said items could not show documents regarding the legal import and lawful possession of the items.

ief jab ch n u P ted e he sta d to th n e i r e r r e f e ased t wh he re was b emen t t r a t o s p or ter ’s the ex a maj f s o minis a t h n e abad 0 perc faisal abad d that 7 n a faisal jab d n ts e u g P r eu nmen h g from i . s t i n in eir co share the ute th o r ort so o P t y s r r D e t ted d expor enera alaba s g i a e f b gh ight throu ded nue m e v e r upgra e e t b a y u ma adeq e port h t d n a

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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

Steps for stable economy

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tate Bank Governor Ashraf Mahmood Wathra has projected the economy as stable and growing at the rate of four percent with stability in macroeconomic indicators.

According to him, the economy is not facing any major risk but has been showing remarkable recovery during the last two years and is growing at four percent without any let up in its momentum during the current fiscal year. The key feature of the recovery is macroeconomic stability as budget deficits are contained, foreign exchange reserves have crossed $20 billion mark, inflation is within limits and remittances from Pakistani expatriates are pouring in to finance the trade deficits. The bank chief sees it as a positive development in the background that the economy registered an anaemic growth of less than three percent at a point of time. The economy is projected to achieve a high growth rate in coming years without confronting any major risk from any internal or external factor to its sustainability.

Wathra has correctly pointed out the need for accelerating domestic investment in the country to take the growth to the next levels.

But it needs prudent economic and investment policies to go on the road of progress. When the business community of the country is pushed to the wall on one pretext or the other, the fervor of nationalism soon evaporates and the investors start looking options to leave the country. It is unfortunate that the policymakers always prefer to take ad hoc and short term measures to resolve serious issues. A halfhearted eort could bring some positive signs and results at time, but it brings more harm to the economy than any good in the long run. Therefore, the oďŹƒcial hierarchy should stop issuing royal decrees to implement the policy decision by force.

Instead, there is a need to improve the standard operating systems to implement the government policies. A policy failure is in fact an administrative failure and that is what is going on in this country for the last many decades. The governor sees a healthy surplus of investable funds in the corporate sector as a welcome sign for the economic recovery.

However, unless the investors are given due respect and share in the business opportunities, it would not be easy to achieve the objectives of the economic growth.

hopes from new auto policy T

LAHORE

DR afTaB afZaL

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he government has come up with a new auto policy with a package of incentives for the European auto manufacturers to invest in the automobile sector in the country. The Economic Coordination Committee of the Cabinet has approved a Oive-year Automotive Development Policy after two and a half years of deliberations to ensure availability of vehicles at competitive rates. The policy offers lower tax rates to the new entrants as well as to protect the interests of the business concerns already in the trade. The exiting brand makers have not improved shape and

structure of their vehicles and have been running the same old models for the last two decades despite enjoying the government incentives. With emerging middle class in the country and improvement in the economic conditions, the demand for new cars has increased many fold during the last Oive years, but the existing players such as Honda, Toyota and Suzuki failed to roll out new models and reduce prices.

The government is now expected to invite European brands such as Fiat, Volkswagen and Renault as to set up their plants in the country. The package of incentives include only 10 percent duty on the import of plants which are not produced locally and 25 percent duty on localized plants for

Oive years. The government will introduce brownOield category under which a three-year incentive package will be offered to the new entrants for the revival of the closed plants such as GhandharaNissan and others. The duties and taxes will be rationalized for the existing carmakers which will hopefully stimulate economic activities in the country. The new policy envisages reduction in the duty of cars up to 1,800cc engine capacity for the next two years while the import tariffs on 8001,200cc cars will also be brought down. However, the government policy on the import of used car will remain unchanged. Pakistan is an emerging economy and it needs Olexible economic policies.

Most of the foreign investors are

shy of risking their money in a country where trade policies and tax laws are subjected to a frequent change. A democratic government is in place and parliament is intact. There is no impediment in the way of the government to pass tax laws which could remain unchanged at least for Oive years. The imposition of taxes and duties is the prerogative of parliament, but this vital area of government powers has been placed in the hands of grade 18 ofOicials. This only brings failures than any success in the long run. It is hoped that the new auto policy will attract local and foreign investment, ensure transfer of technology, enhance competition and push up industrial growth in the country.

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Edgewater budget includes $29 tax cut EDGEWATER: The budget that the Borough Council introduced this week includes a $29 tax cut for the average property owner, thanks in part to new revenue generated by nearly $78 million in construction that was completed in the last year, officials said. The $28 million budget, which the council introduced in a unanimous vote on Monday, represents a nearly 5 percent increase over last year’s budget. The amount to be raised by taxes, however, increased by less than 2 percent, or about $363,000. “I’m very pleased with being able to pass on a tax break to the homeowner,” Mayor Michael McPartland said, adding, “Everything in Edgewater is booming.” The new construction is expected to result in roughly $572,000 in new tax revenue this year, according to the budget. The Alexander, a 302-unit luxury midrise apartment complex built by the developer Fred Daibes, started renting units in May.

Pakistan making gradual progress in tourism sector: ahmer Malik akistan needs to market itself as tourism destination as it is endowed with beautiful landscapes, scenries, historical heritage and other attractive places for international tourists. These views were expressed by the Chief Executive Officer of Pacific Asia Travel Association Mario Hardy while speaking at the Lahore Chamber of Commerce and Industry. The LCCI Vice President Nasir Saeed, Managing Director Tourism Development Corporation of Punjab (TDCP) Ahmer Malik and Chairman Pacific Asia Travel Association Lt. Col. ® Akbar A. Shareef also spoke on the occasion. Mario Hardy said that

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image of Pakistan is not as bad as being portrayed at global level. He said that Pakistan should highlight its soft image through its missions abroad and media.

He informed the participants that Pacific Asia Travel Association (PATA) was founded in 1951 and it is a not-for profit association that is internationally acclaimed for acting as a catalyst for the responsible development of travel and tourism to, from and within the Asia Pacific region. He said that the association provides aligned advocacy, insightful research and innovative events to its member organisations, comprising 97 governments, state and city tourism bodies, 27 international airlines, airports and cruise lines, 63 educational institutions, and hundreds of travel industry companies in Asia Pacific and beyond. Managing Director of Tourism Development Corporation of Punjab (TDCP) Ahmer Malik said that Pakistan is making gradual progress in tourism sector and various measures have been taken in a short span of time. He said that Pakistani mission abroad are doing well to attract foreign visitors to Pakistan.—CB Report

Tuesday March 29, 2016

Chambers

govt striving to create conducive environment for business: Baligh M

ISLAMABAD

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uhammad Baligh ur Rehman, State Minister for Federal Education and Professional Trainings said that businessmen were highly respectable segment of the society as they were creating jobs, improving prosperity and playing key role in economic development of the country and government was making strenuous efforts for creating a conducive environment to facilitate the growth of business and investment activities. He said government was responsible for providing right infrastructure to entrepreneurs and it has arranged LNG from Qatar while work was in progress on TAPI & IP projects in addition of construction of dams to overcome energy problem. He said with the efforts of the government, measurable difference was visible in key areas of the economy while country was getting positive ratings from international agencies and many foreign investors were looking at Pakistan with great interest. He said this while addressing business commu-

nity at Islamabad Chamber of Commerce and Industry. S.M. Munir, Chief Executive, TDAP and Abdul Rauf, President, FPCCI were also present at the occasion. Baligh ur Rehman said low taxation was the major cause of insufOicient allocation of budget for education, however, government was determined to increase education budget up to 3% of GDP taking it up to 4% by 2018 as developing human capital

was the central pillar of its policy.

He said technical and vocational education was our key focus and government has formulated the Oirst ever National Technical and Vocational Education and Training (TVET) Policy 2015 to cater to the needs of industrial sector. He said ultimate aim of our efforts was to transform Pakistan into a knowledge economy.

He said grants were given to HEC

‘gwadar holds great investment potential’

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KARACHI

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hina Overseas Port Holding Company (COPHC) Chairman Zhang Baozhong has said that Gwadar Port holds immense potential for industrial investment in view of the opportunities offered through the establishment of deep sea port, capable to accommodate large vessels of up to 70,000 Deadweight Tonnage (DWT).

Exchanging views during his visit to Karachi Chamber of Commerce and Industry (KCCI), he said that the Makran Coastal Highway (N-20) has been completed, which substantially reduced the distance between Karachi and Gwadar. Upon completion of Gwadar Port, it will be a gateway and hub of world businesses and trades by catering to all types of international commercial activities,

he added. China Overseas Port Holding Company COO and Gwadar International Terminal Limited CEO Captain Xiaolong Dai, Businessmen Group Chairman and KCCI former president Anjum Nisar, Senior Vice President Zia Ahmed Khan, Vice President Muhammad Naeem Sharif, former presidents Khalid Firoz and Iftikhar Ahmed Vohra along with members of KCCI Managing Committee were also present at the meeting. Zhang stated that COPHC was granted a 40 years concession in 2013 to manage and operate the Gwadar Port and Gwadar Free Zone and it has been the objective of COPHC to develop the region’s most strategically well located port with state-of-the-art facilities.

He said that mostly the local workforce and contractors have been engaged in carrying out the development work Gwadar Port and they were doing an excellent job in

developing the port. Zhang further informed that the largest free zone of more than 9,68,000sqm with Bonded Warehousing, Manufacturing, International Purchasing, Transit and Distribution Transshipment, commodity display and supporting services was being established in which federal, provincial and local taxes are exempted as COPHC enjoys a tax holiday of 20 years, making it an attractive port for marine trade. He said that COPHC also intends to organize an International Fair every year in Gwadar which will be organized jointly by the governments of Pakistan and China to highlight the potential of this important port which will become the Distribution Center for Middle East Market. He also invited the business community of Karachi Chamber to visit Gwadar Port in order to personally take a good look at the development work at the Port.

to promote academia-industry linkages, 18000 schools were established under National Commission for Human Development (NCHD) to promote literacy in far Olung areas of the country with plans to increase them up to 50,000. He stressed upon the business community to take ownership of such schools under their CSR activities and contribute to promotion of education in the country.

North Bergen unveils $88 million budget he budget that the Borough Council introduced this week includes a $29 tax cut for the average property owner, thanks in part to new revenue generated by nearly $78 million in construction that was completed in the last year, officials said.

The $28 million budget, which the council introduced in a unanimous vote on Monday, represents a nearly 5 percent increase over last year’s budget.

The amount to be raised by taxes, however, increased by less than 2 percent, or about $363,000. “I’m very pleased with being able to pass on a tax break to the homeowner,” Mayor Michael McPartland said, adding, “Everything in Edgewater is booming.”—CB Report

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Russia’s rising oil exports expose holes in output deal Tuesday March 29, 2016

World

MOSCOW: Russia will export more oil to Europe in April than it has in any month since 2013 – despite Moscow’s plan to sign a global agreement on freezing production in a bid to lift the price of crude.

The fact Russian exports are rising illustrates how hard it will be to enforce the deal, due to be finalised on April 17 in Qatar, and shows the potential for countries to use loopholes to keep exporting crude, blunting the intended impact on prices. Russia can raise exports while keeping production flat by re-routing some oil away from refineries and into exports. Moscow says the freeze covers production, not sales abroad.The International Energy Agency said on Wednesday the deal may be meaningless. Iran and Libya have said they will not participate, at least for now, and they plan to raise production.

US Customs finds 55 sea horses in luggage HOUSTON

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S Customs and Border Protection agriculture specialists working at George Bush Intercontinental Airport discovered 55 dead seahorses (Hippocampus sp.) hidden in a traveler’s luggage. According to U.S. Fish and Wildlife Service (FWS), there is a passenger baggage limit of four seahorses per passenger.

The traveler, a visitor from Vietnam arrived, March 1, and declared that he was not carrying any agriculture-related items. However, when CBP agriculture specialists examined his luggage, the traveler admitted he was bringing Oish into the country. During their inspection, agriculture specialists discovered a soft drink bottle wrapped in a white bag with the seahorses submerged in liquid. “Customs and Border Pro-

Singapore’s CNB seizes 2kg drugs worth $156,000 ive people have been arrested and more than 2kg of drugs worth an estimated $156,000 were seized in a Central Narcotics Bureau (CNB) operation on Thursday. At about noon, CNB officers observed a car driven by a 47-year-old male Singaporean, who picked up a 43-year-old Singaporean man and a 21-year-old Indonesian woman. The driver drove to a carpark in the vicinity of Lengkong Tiga in Bedok, where a suspected drug courier, a 29-year-old Malaysian man on a motorcycle, passed a plastic bag to the male passenger, who is a suspected drug trafficker. Officers arrested all four for suspected drug activities, and recovered two bundles of heroin weighing about 950g from the plastic bag, along with $5,880 in cash. They then raided the hideout of the suspected drug trafficker, where about 920g of heroin and four packets of “Ice” weighing about 30g were recovered.—CB Report

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tection along with our partners at the Fish and Wildlife Service are committed to interrupting the international trafOicking of protected and endangered species,” said CBP Port Director Charles Perez.

CBP detained the seahorses for FWS inspectors. Seahorses are protected under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) because they are over-harvested for aquarium trade and medical research. FWS inspectors seized all 55 seahorses since the passenger exceeded the limit and failed to declare the seahorses. Rules and regulations for importing seahorses are available by viewing FWS Seahorses.

CBP agriculture specialists have extensive training and experience in biological sciences, risk analysis, and agriculture inspectional techniques. They are the Oirst line of defense in the protection of U.S. agriculture, forest and livestock industries from exotic plant pests and animal diseases.

hk Customs seizes cocaine worth hk$1.6 million HONG KONG

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s the campaign against illegal drugs intensiOies, drug smugglers are adopting new ways to transport their illegal goods into Hong Kong, and the latest is to disguise them as canned luncheon meat. Before they used “drug mules” or people who either carry the drugs in luggage or swallow them in plastic or rubber containers to get past through customs checkpoints undetected.

But since numerous attempts using this method have been foiled by airport authorities, crime syndicates are trying new ways to carry on the trade, such as by hiding the contraband in food and other daily necessities as well as in musical instruments, Tang Yi-hoi, deputy commissioner of the Customs and

Russia adds $6 billion to its gold reserves in a week

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ince the beginning of March, Russia’s gold and foreign exchange reserves have increased to nearly $370 billion. The value of Russia’s gold reserves rose by $5.8 billion, from $381.1 billion to $386.9 billion, between March 11 and 18, according to the Russian Central Bank. In seven day, Russia increased its gold and foreign exchange reserves by 1.5 percent. From March 1, the reserves rose by 1.7 percent, from $380.5 billion.They include securities, foreign exchange cash, spe-

cial drawing rights of the IMF, monetary gold, and a number of other assets. In mid-December 2015, the Russian Central Bank announced that it would increase Russia’s gold reserves to $500 billion in the coming three-Oive years. The terms would depend on macroeconomic scenarios the government is going to implement. Gold is considered to be a buffer against external economic risks after Russia, one of the world’s largest oil exporters, was hit by a slump in global oil prices.—CB Report

Excise Department, told Apple Daily.

They now also tend to use several people at a time in the form of a relay to carry the drugs to their destination, Tang said. Last month customs ofOicials seized 1.5 kilograms of cocaine hidden in Oive cans of luncheon meat that belonged to a foreign woman who arrived in Hong Kong from Brazil by way of Dubai.

The drug haul was estimated to be worth HK$1.6 million. According to

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data from the department, 105 drug trafOicking cases were intercepted in the Oirst two months of the year, down from 126 in the same period in 2015. However, the volume of drugs seized rose to 222 kilograms from 176kg a year ago, with that of cocaine jumping 2.5 times. Tang said most of the cocaine brought into Hong Kong was meant to be transported to mainland China and neighboring countries.

Nike set for £570m revenue hike

portswear giant Nike will unveil a 10 per cent hike in its revenues at its third-quarter results on Thursday, according to Wall Street analysts.

Despite the negative impact of the US dollar’s increased strength on its overseas earnings, Nike is expected to say that its third-quarter revenues rose 10 per cent to $8.2billion (£5.7billion), while profits are tipped to rise 5.7 per cent to $1.1billion compared with the same quarter last year. The company has seen strong sales in North America, Asia and Western Europe, and its margins have continued to increase,

as its website and Niketown chain of sports shops account for a growing proportion of its sales. Nike has been working to modernise its production processes and supply chain to reduce waste and improve efOiciency. In October it partnered with design and engineering group Flex to apply new technologies to its production systems. The firm suffered a blow earlier this month when one of its most high-profile athletes, five times tennis Grand Slam winner Maria Sharapova, announced that she had failed a drugs test during the Australian Open in January.—CB Report

China Customs find khat, cannabis in foreign mail

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BEIJING

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ustoms ofOicers in south and northeast China have reported seizures of narcotic plants in mail from Ethiopia and the United States. On March 4, Dalian customs found seven mail boxes containing more than 60 kg of khat leaves,

which contain amphetamine-like stimulant. It is illegal to plant, possess, sell or consume khat in China.

Addresses on the mail boxes showed the leaves were sent from Ethiopia to a university dorm in Dalian, but they provided no details about the sender or receiver, the Dalian customs ofOice said in a statement. Local authorities have detained two foreign suspects, it

added without giving details.

In a separate case, south China’s Guangdong Entry-Exit Inspection and Quarantine Bureau found 400 grams of dried cannabis in an ecommerce package from the United States on Feb. 25.

An inspector using an X-ray machine noticed it under a layer of black tea in the package, according to a statement from the bureau.

It was the Oirst time the cannabis strain indica had been found in a foreign e-commerce package.

Local authorities detained a suspect in early March and closed the ecommerce account used to import the cannabis, the bureau said.Local authorities detained a suspect in early March and closed the e-commerce account used to import the cannabis, the bureau said.

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CKH Holdings ports revenue falls by 5% WASHINGTON: CK Hutchison Holdings (0001) reported today the revenue, before additional contributions, of HK$33.76 billion dropped by 5 percent due to the adverse foreign currency translation to Hong Kong dollars.

In local currency terms, revenue was 2 percent higher compared with 2014. Throughput increased by 1 percent to 83.8 million twenty-foot equivalent units in 2015, the company reported. After the reorganization, the group’s interest in HPH Trust as compared with Hutchison Whampoa Limited’s interest increased slightly from 27.62 percent to 30.07 percent, resulting in additional contributions, which increased total revenue to HK$34.009 billion.

Large amount of cocaine seizes at georgia Ports S Customs and Border Protection officials made a huge drug bust at the Georgia Ports in Savannah. They recently seized 157. 6 kilograms of cocaine valued at more than $6 million. Officers intercepted the narcotics hidden in a container of frozen pineapples at the Garden City Terminal. Authorities say it is one of the largest seizures of cocaine in the Port’s history. Meanwhile, Personal computer (PC) shipments in India totalled around 2.6 million units in the fourth quarter of 2015, a 10.6 percent increase over the corresponding period of 2014, according to information technology research and advisory company Gartner. ”Consumers accounted for 40 percent of total PC sales in the fourth quarter of 2015, down from 52 percent in the fourth quarter of 2014,” Vishal Tripathi, research director at Gartner, said in a statement here on Wednesday. Lenovo moved into the number one position in PC shipment in India in this period due to the state

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government order execution in the quarter which helped it experience the largest increase in market share. It was followed by HP, Dell and Acer, the statement added. “The PC market in India is facing some challenging market dynamics. The enterprise segment might witness some growth going forward due to government and education projects, however we do not foresee significant growth in the PC market in India,” Tripathi added. ”White boxes (including parallel imports), which accounted for 32 percent of the overall desktop market, declined 6 percent in the fourth quarter of 2015 compared to the same period in 2014,” the statement said. Similarly, in the fourth quarter, mobile PCs grew by 27 percent year-on-year primarily due to state government orders.—CB Report

Ports & Shipping

Port of Long Beach to see 5% cargo growth in 2016

Tuesday March 29, 2016

South Carolina Ports authority exports two millionth SC-made BMw he South Carolina Ports Authority exported the two millionth BMW manufactured in South Carolina, a milestone celebration of the Port’s longstanding partnership with the nation’s top vehicle exporter by value. SCPA and BMW officials commemorated the two millionth BMW vehicle manufactured by Plant Spartanburg and exported through the Port of Charleston. SCPA and BMW commemorated the two millionth BMW vehicle manufactured by Plant Spartanburg and exported through the Port of Charleston. The two millionth vehicle, a Space Grey Metallic BMW X5 M50d, was loaded for export onto the ELEKTRA vessel operated Wallenius Wilhelmsen Logistics for delivery to a customer in Germany. “SC Ports Authority has a strong history with BMW Manufacturing, and their operations are a tremendous asset to our port and region,” said Jim Newsome, SCPA president and CEO. “Today we commend a talented, committed workforce at BMW on this achievement and celebrate their continued trust in us to deliver South Carolinamade BMWs to the world.” The Port exported over 250,000 BMW vehicles in 2015, driving SCPA’s 13 percent year-over-year increase in finished vehicle volume last year.—CB Report

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LONDON

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he Port of Long Beach, the second largest port in the United States, will see 5 percent growth in cargo volume this year as a strong U.S. dollar spurs consumer demand, the west coast port’s chief executive said on Thursday. The port, which handles 20 percent of U.S. cargo, mainly from east Asia, just posted its strongest February on record, with the stronger dollar helping to drive imports by 45 percent compared to a year ago.

Chief Executive Jon Slangerup,

who has a front-row seat on global economic activity, said American consumer demand would sustain global growth, offsetting a slowdown in China and an economically weak Europe. “The only real game in town right now is American consumers, that’s the global game,” said Slangerup, adding that lower prices and strong demand will sustain cargo growth this year.

Slowing imports from China are being compensated for by doubledigit growth in southeast Asian countries such as Malaysia, Indonesia, Vietnam, and Thailand, which are the main drivers behind the port’s growth numbers, said Slangerup. In 2015 the port moved 7.2 million container units, known

as TEUs, through the harbor, an increase of 5.4 percent over the previous year. February marked the eighth consecutive month of cargo growth, port ofOicials said.

Meanwhile, Chennai Port Trust on Friday commenced supplying bunker fuel to ships at anchorage, an ofOicial said. Till recently, international vessels that were passing various Indian sea ports had to go either to Singapore or Colombo for bunker fuel. Chennai Port has started supplying bunker fuel through barge to vessel berthed at Oive nautical miles from the port.

“The supply of bunker fuel to ships at anchorage is a business which international ports such as Singapore and Colombo have excelled in.

Tablet shipment reaches 4.4m in India

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NEW DELHI

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uoyed by government purchases, tablet PC shipment in India grew 13 per cent to reach 4.4 million in 2015, with low-cost device maker Datawind and Pantel emerging as top players in the segment. “4.4 million tablet PCs were shipped in India in 2015, registering a growth of 13 per cent compared with 2014,” CyberMedia Research said in its India Annual Tablet PC Market Re-

view report. The top Oive tablet PC brands corner 66 per cent of the market share. A total of 66 brands, according to the report, shipped tablets in 2015 and towards the end of year, only 18 were selling these devices, it said. “The marginal rise in tablet performance could be attributed to a few government deals. However, with rising demand for phablets/smartphones, the challenge for the industry would be to make it more exciting and bring in features attracting the consumer segment,” CMR Analyst for Tablet Devices Tanvi Sharma said.

Datawind led the market with a 24 per cent share while Pantel Technologies took the maximum 17 per cent during the year. Meanwhjile, The government has approved an ambitious plan to upgrade and rehabilitate terminal facilities at the Pipri Marshalling Yard and Badami Bagh and two dry ports at Mughalpura, Lahore, and Azakhel, Peshawar. An ofOicial source said the plan focuses on rehabilitation of existing tracks and civil works, improvement of goods handling facilities, establishment of new dry port and transit goods facilities

at Azakhel Pir Pai Railway Station over an area of 64 acres. The new investment is required to make the Pakistan Railways ready to transport coal from Karachi port to Punjab and Afghan transit goods to Peshawar. The poor infrastructure facilities at the terminals and dry ports are resulting in loss of revenue and shifting of business in case of Afghanistan transit cargo. The Marshalling Yard Pipri was established in 1982 but with the passage of time the infrastructure had become incapable of handling additional load of coal movement.

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Faisalabad Excise collects Rs 521.498m as motor tax FAISALABAD: The motor branch of the Excise and Taxation Department has collected Rs 521.498 million under the head of motor tax during eight months of the current fiscal year and achieved its annual target of Rs 857.580 million. Sources informed Customs Today that the excise collected Rs 397.385 from Faisalabad against the assigned target Rs 645.436, while from Jhang the excise collected Rs 53.202 million against the assigned target of Rs 96.458 million. Meanwhile, Chiniot motor branch has collected Rs 21.931 million against the target of Rs 32.494 million.

Tuesday, March 29, 2016

CUSTOMS BULLETIN

Sialkot Customs issues rebate cheques amounting to Rs 320m to exporters SIALKOT SaLEEM awaN ShEIkhU www.customsbulletin.com

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he Customs Collectorate has issued rebate cheques amounting to Rs 320 to various exporters who belonged to Sialkot, Gujrat and Gujranwala.

Assistant Collector Zahid Bashir Chaudhary told Customs Today that the process to clear refund claim up to Rs 5 million will be completed before March 31. Customs Collector Ahmad Reza is taking keen interest in the clearance of the pending amount of rebate refunds to exporters without any further delay.

He said that the exporters of Small Medium Enterprises (SMEs) will take benefit from this process of rebate refund. He said refund claims upto Rs 5 million will also be cleared soon. He hoped that payment of rebate claims will encourage business community to further speed up their trading activities. Meanwhile, The AntiSmuggling Organization (ASO) has recovered Indian origin red chilli and cloth worth Rs 800,000 from a truck. Following the directions of ASO incharge Assistant Collector Zahid Bashir Chaudhary, Inspec-

tor Sheikh Muhmmad Ikram along with his team established a check post on the Airport Road. The

team intercepted a truck coming from Azad Kashmir and recovered red chilli and cloth. The officials

asked the driver to show documents regarding the legal import of the items but he failed to do the

same; therefore the recovered items were seized under the customs laws.

Promotion of tax culture is need of the hour: ayesha ghaus LAHORE

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unjab Finance Minister Dr Ayesha Ghaus Pasha has said that promotion of tax culture is need of the hour but it does not mean that the poor should be burdened with more taxes. She expressed these views while addressing a seminar on the topic “Rights of Taxpayers, Situation and Demands” held in collab-

oration with Hamid Nizami Press Institute of Pakistan.

She said that the aim of setting up Punjab Revenue Authority is to increase tax net but not increase tax rate. She said that out of 100 million population of the province, 70 percent comprises youth who can be equipped with education and skills through which they can become self-reliant.

Participation of private sector will supplement government efforts in this regard, she added.

Referring to complaints of business community of chamber of ommerce and problems of the in-

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dustrial sector, Dr. Ayesha Ghaus Pasha said that aim of visiting the chamber again and again is resolution of problems of traders and assurance of government cooperation. She said that promotion of local industries is an integral part of government policy. She assured that after increase in tax net and improvement in recovery rate, tax rate will be reduced at provincial level and implementation of conditions recommended with regard to payments will be ensured. She said that PRA will neither harass taxpayers nor increase their difficulties.