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pAkIStAN’S FIrSt INDepth NewSpAper oN cuStoMS

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Karachi, Fri November 3, 2017

ISLAMABAD

M FAIZAN

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he Federal Board of Revenue (FBR) is facing Rs47 billion shortfall in tax collection during Rirst four months (JulyOctober) of the current Rinancial year.

The FBR has provisionally collected Rs1,024 billion during July-October period of the year 2017-18 as

against the target of Rs1,071 billion. The top revenue authority of the country has collected Rs259 billion during October. The federal government had set the revenue target of Rs4,013 billion for Riscal year 2017-18. The FBR would require collecting Rs650 billion additional revenue to achieve ambitious target of Rs4,013 billion in the current Riscal year. Around 19 percent growth would be required in the current Riscal year over provisional collection of

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Rs3,362.1 billion in the just concluded Riscal year. The federal government had restricted the budget deRicit at Rs324 billion during Rirst quarter (July-September) of the current Riscal year as against Rs438 billion in the same period of the last year due to robust tax collections and lower expenditure. In terms of GDP, the overall deRicit decreased to 0.9 percent in the Rirst quarter of current Rinancial year as compared to 1.3 percent recorded in the Rirst quarter of last year.

IDP generates Rs233.92m more revenue than allocated target

PCA uncovers tax evasion of Rs2.34m committed by Reliance Garments

Lahore Preventive seizes smuggled goods worth Rs 2 million

Ahsan urges to play lead in industrial phase of CPEC

Gwadar Customs impounds vehicles, goods worth Rs 22 million

The Customs Islamabad Dry Port collected Rs233.92m surplus revenue | See pAge 02 |

PCA has detected an evasion of duties/taxes of Rs2.34million | See pAge 03 |

Customs Preventive has seized a huge quantity of smuggled items | See pAge 04 |

Ahsan called upon the private sector investmentandbusinesscommunitytoplay | See pAge 14 |

Customs Collectorate has impounded several NDP luxury vehicles | See pAge 16 |

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Customs Tribunal adjourns hearing of customs matters filed against FBR Friday, November 3, 2017

Islamabad

ISLAMABAD: The Customs Appellate Tribunal held the hearing of a couple of customs matters involving field offices of the Federal Board of Revenue (FBR).

The Customs Appellate Tribunal’s bench comprising Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan, heard the matters and adjourned for further arguments. M/s Kohinoor Trader and M/s Five Star Trading had filed the references.

IDp generates rs233.92m more revenue than allocated target

ISLAMABAD

ISLAMABAD

cuStoMS BuLLetIN report

tArIQ DerYA

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ederal Service Tribunal on Tuesday issued fresh directives submit relating record of cases being contested by employees of FBR at tribunal. FST Chairman Justice (r) Syed Zahid Hussain and Dr Nazir Saeed heard three cases filed

by M Sulaman Javed, Muhammad Nawaz, Muhammad Shakeel Akhtar and others. Muhammad Sulaman Javed had prayed the tribunal to ensure implementation over its already given decision; Muhammad Nawaz had challenged dismissal from services, and Muhammad Shakeel Akhtar had challenged removal from services. Tribunal’s bench had recently reserved decision on promotion cases filed by M Iqbal and Habib Ahmed. Both employees of FBR had submitted complaints regarding their promotion and had asked the tribunal to direct the department on awarding their meritorious scale at the department. Same bench also heard couple of other cases carrying dismissal matter and adjourned hearing. Tariq Tanveer and Noreen Safia had filed these petitions in which they had pleaded against dismissal from services.

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he Customs Islamabad Dry Port collected Rs233.92million surplus revenue under all the heads during 1st July to 23rd of October Financial Year 2017-18 against the assigned revenue target under all the heads. The revenue collection target must be revised downwards due to imposition of Regulatory Duty on Imports.

This was said by Tahir Iqbal Khattak, Deputy Collector Islamabad Dry Port (IDP), while talking to Customs Today.

He said the IDP received Rs2223.12million under all the heads during three months and initial 23 days of October FY17-18 whereas it was allocated Rs1989.12million under all the heads. During said period, the IDP generated 11.76% of increase against the earmarked revenue target during above said period.

Khattak said the IDP earned Rs919.844million of Customs Duty during the 1st of July to 23rd of October FY17-18 against the assigned revenue target of Rs968.205million under the same head while it did Rs946.205million during the same period of FY16-17 as CD. Deputy Collector told CT that, during the 1st of July to 23rd of October FY17-18, the IDP generated Rs773.602million against the allo-

FSt issues fresh directives on cases filed by FBr employees

cated revenue target of Rs553.180million whereas it did Rs186.113million as Federal Excise Duty (FED) during the 1st of July to 23rd of October FY17-18 against the earmarked target of Rs85.113million of FED. During the 1st of July to 23rd of October FY17-18, the IDP got Rs343.563million as Withholding Tax (WHT) while it was assigned revenue target of Rs378.310million of WHT. A little difference has been recorded during the 1st of July to 23rd of October FY17-18 in the

WHT and FED and in the collection of CD which will be met during the rest of the days of current month of October FY2017-18.

Meanwhile, The Customs Air Freight Unit Islamabad earned extra revenue of Rs96.99million under all the taxes during the Rirst 20 days of October Financial Year 2017-18 against the collection of the same period of corresponding 20 days of October Financial Year 2016-17.

According to details given by Nisar Ahmad Phullerwan, Addi-

tional Collector Air Freight Unit (AFU) Islamabad, that the AFU collected revenue amounting to Rs650.589million during Financial Year (FY) 2017-18 while it did Rs553.598million during the same period of 1st to 20th of October FY16-17. Additional Collector told Customs Today that, during above said period, the AFU received revenue of Rs145.318million as Customs Duty (CD) whereas it did Rs124.381million during the same period and head during FY16-17.

Ihc adjourns hearing of reference filed against M/s Venus

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ISLAMABAD

NAeeM uLLAh tArIQ www.customsbulletin.com

division bench of the Islamabad High Court (IHC) dated in ofRice the hearing of a number of customs references Riled against M/s Venus Pakistan Private Limited. The IHC division bench comprising Justice Shaukat Aziz Siddiqui and Justice Mohsin Akhtar Kayani heard the cases and relisted for further proceedings on them.

All of three references were Riled

by Collector of Customs, Islamabad.

These cases were Riled during 2012, 2013 and 2017 receptively. The bench also dated in ofRice the hearing of another tax matter Riled by M/s Pakistan Telecommunication Company Limited.

M/s Pakistan Telecommunication Company Limited had Riled the case seeking restrictions for Large Taxpayers Unit, Islamabad about recovering outstanding tax amount. The appellant had also sought from court

to nullify the LTU order carrying the claim about outstanding tax amount.

Federal Board of Revenue (FBR), ofRicers of LTU including commissioner Inland Revenue, additional commissioner Inland Revenue, Commissioner Inland Revenue (Appeals) and Appellate Tribunal Inland Revenue were made respondent in the case. M/s Pakistan Telecommunication Company Limited had prayed the court to directed LTU not to recover the said amount and abstain from any coercive action in this regard.

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SHC issues notices to FBR chief, DAG, collectors KARACHI: A Sindh High Court division bench has issued notices to the FBR chairman, Deputy Attorney General, Pakistan Customs East and West collectors for Oct 26 while hearing a number of petitions challenging recently imposed regulatory duty (RD) on 731 items. The division bench was comprised of Justice Munib Akhtar and Justice Omar Sial.

Advocate of Franklin Law Associates appearing for the petitioners including business bodies like FPCCI, private companies and importers submitted that the federal government has violated the guidelines given by the superior courts and no approval from federal cabinet was taken before imposing RD.

customs court extends bail of suspect involved in tax evasion

Friday November 3, 2017

Karachi

pcA uncovers tax evasion of rs2.34m committed by reliance garments

KARACHI

M B rANA

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he Customs Taxation & AntiSmuggling Court Judge Syed Faiz Rasool Rashdi extended pre-arrest bail of suspect namely Usman Shahid son of Shahid Zaki, who was booked in a case of money laundering, concealment of assets and evasion of the taxes in the tune of Rs576 million to national exchequer. According to the prosecution, during investigation of a money laundering case is respect of Usman Shahid in the ground that the suspect has knowingly and wilfully made offences of concealment of income, acquiring assets from proceeds of crime by committing “predicate offence” of tax evasion.;

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FBr assures release of refunds soon KARACHI

M B rANA

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ederal Tax Ombudsman Mushtaq Ahmed Sukhera has said Federal Board of Revenue has assured release of the pending refunds to the exporters soon. Taking to members of Korangi Association of Trade and Industry during his visit to the association here, the FTO said notices issued without barcode would be taken as criminal offense. Sukhera also said in his recent meeting with FBR officials, he had directed them to facilitate tax filers and to provide relief of two years gap for the submission of general audit. He said the cost of production and doing business had gone very high besides other problems facing industrialists and traders. In this situation, he added, the spirit of business community was remarkable.

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KARACHI

wAQAr AhMeD ANSArI www.customsbulletin.com

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he Directorate of Customs’ Post Clearance Audit (PCA) has detected an evasion of duties/taxes of Rs2.34million by M/s Reliance Garments, it is learnt.

The ofRicial sources told the reporter that M/s Reliance Garments imported a consignment of different fabrics under the PCT Heading 2909.6789 and got cleared the same from the Port Qasim Karachi vide GDs on September 2, 2016 by paying customs duty at 8.25 percent after claiming a beneRit of SRO 564/2007.

However the subject goods are correctly classiRiable under the PCT 2905.6758 attracting customs duty at 14.25 percent and income tax at three percent. Thus, by way of misdeclaration of classiRication, M/s Reliance Garments evaded/short-paid Rs2.34million.

So the importer has violated the provisions of Section 32 (1) (2) & (3A) of the Customs Act-1969, Section 3, 6 & 9 read with Section 36 of the Sales Tax Act-1990 and Section 148 of Income Tax Ordinance 2001 punishable under clauses (1) and 14 of Section 156(1) of the Customs Act 1969, Section 33(5) of the Sales Tax Act-1990 and Section 148 & 176 of Income Tax Ordinance 2001 and Section 7A of the Sales Tax Act-1990 read with chapter X of the Sales Tax Special Procedure Rules 2007(Spe-

cial procedures for payment of Sales Tax by the importers) and under relevant provisions of Income Tax Ordinance 2001.

Accordingly, an audit observation was issued to M/s Reliance Garments for explaining and clarifying as to on what basis they have avoided/evaded the taxable duty and taxes. The importer however failed to come up with any tangible evidence and explanation and was also unable to re-

the subject goods are correctly classifiable under the pct 2905.6758 attracting customs duty at 14.25 percent and income tax at three percent. thus, by way of misdeclaration of classification, M/s reliance garments evaded/shortpaid rs2.34million

rto-II sets up units to identify new taxpayers

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KARACHI

cuStoMS BuLLetIN report www.customsbulletin.com

n bid to broaden tax net and to identify new taxpayers, the Regional Tax OfRice (RTO)–II has established six more units and notiRied jurisdictions for broadening of tax base (BTB).

The ofRicers will only exercise jurisdiction orders against persons not having NTN/STRN/FTN holder or taxpayers not registered.

The RTO notiRied six units in two ranges under which ofRicers will exercise under income tax, sales tax federal excise laws. According to the notiRication BTB Range A Unit 01 will exercise on all cases or classes of cases, persons or classes of persons whose place of business is situated in the areas falling within the limits of: Saddar Town excluding DHA and Clifton Cantonment Karachi Cantonment iii. Lyari Town Liaqatabad Town All cases of statutory agents/rep-

resentatives assessable under sections 172 and 173 of the Income Tax Ordinance, 2001.

Directors of all cases falling in the jurisdiction if not already taxpayers or NTN holders. Cases of classes of cases or persons or classes of persons or areas assigned speciRically by commissioner from time to time.

Cases or classes of cases or persons or classes of persons or areas assigned speciRically by Federal Board of Revenue / Chief Commissioner from time to time.

fute the charges leveled by the department. Meanwhile, The Model Customs Collectorate of the Appraisement East has unearthed tax evasion of Rs3.26million in the clearance of medical accessories imported by M/s Safina & Co. Source told the reporter that Collector Appraisement East Ashadd Jawad directed the R&D Section to verify the post clearance consignment of the importer M/s Safina & Co.

Man held in embezzlement case he Federal Investigation Agency (FIA) Gujranwala on Tuesday arrested a person involved in embezzlement case. According to FIA spokesman, accused Muhammad Saeed involved in embezzlement of Rs 14,064,000 MCB Sambrial branch by using different accounts fraudulently. Further investigation is underway.

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Court sends currencies smuggler to jail on three-day judicial remand Friday November 3, 2017

Lahore

LAHORE: The Special Federal Court of Customs Taxation and Anti-Smuggling has approved a judicial remand of an accused arrested by the Pakistan Customs Preventive of the Allama IqbaI International Airport when he foiled an attempt of smuggling of foreign currencies into China.

The Customs Investigation and Prosecution team had presented him before the court and asked for the physical remand for further investigation.

The Special Federal Court of Customs Taxation and Anti-Smuggling has approved a three-day physical remand of the accused.

customs court grants post-arrest bail of alleged mobile-smuggler LAHORE

M IMrAN MehAr

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he Special Federal Court of Customs Taxation and AntiSmuggling has approved a post-arrest bail plea of the accused arrested in a mobile-smuggling case.

On Saturday, the said court heard the post-arrest bail plea of the accused. The customs lawyer opposed the plea and said the offense against the accused is heinous, so his bail plea should be rejected.

Judge of the court, Sabir Shakir, was not satisfied with the arguments of the defense counselor of the Pakistan customs. After hearing arguments of the accused party lawyers, customs court granted the bail against the surety of Rs10000 each and personal

Importers up in arms against levy of regulatory Duty akistan FMCG Importers Association staged a strong protest demonstration to press the government for immediate withdrawal of recently levied regulatory duties on different items. The demonstration was led by Chairman Pakistan FMCG Importers Association Anjum Nisar, Vice Chairman Ejaz Tanveer, Aftab Ahmad Vohra and various others. Earlier the association also arranged a seminar on the issue of imposition of regulatory duties and their negative impact on the national economy. Participants through unanimously adopted resolutions urged the government to immediately withdraw regulatory duties, lower the customs duties, steps for arresting smuggling and taking representatives of stakeholders on board while formulating policies of any sector. –CB Report

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guarantee as well.

An accused Imran was held by the customs intelligence authorities from Lahore. The customs intelligence and investigation team had presented him before the customs court for getting his physical remand to investigate more on the issue. So he was sent to jail on judicial trial. Accused Imran has been supplying these mobile phones to some traders of Hall Road and Hafeez Center. The customs intelligence team intercepted the accused near Sherakot and recovered 2,500 mobile phones. The value of the recovered mobile phones is more than Rs6.3million in the local market.

The customs investigation team had presented the accused before the court of special judge of customs taxation and anti-smuggling, Tahir Sabir, in the last month and asked for their judicial remand.

Lahore preventive seizes smuggled goods worth rs2m LAHORE

M hAYAt

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ustoms Preventive has seized a huge quantity of smuggled items, which were being transported to Karachi from Mansehra in a passenger bus.

The seized smuggled items include HD digital receivers, foreignorigin cloth, auto parts and chemicals worth Rs2 million while the Daewoo bus also seized is worth Rs3 million. Collector Preventive Lahore Faiz Ahmad passed the information to Additional Collector Muneeza Majeed and Deputy Collector Moazzam Raza that smuggled goods would to be transported through a passenger bus.

Accordingly, a team was formed comprising Superintendent Nasir Minhas, Deputy Superintended Agha Qadeer and Inspectors Gulzar

court sends two cloth-smugglers to jail on 14-day judicial remand

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he Special Federal Court of Customs Taxation and AntiSmuggling has sent two accused to jail on the extension of judicial remand for 14 days.

Two accused Rehmat Ali and Nasir Khan were arrested by the customs intelligence. The Pakistan Customs Intelligence got their physical remand for investigation. The Customs Intelligence had also recovered a big quantity of foreign made smuggling cloths and related goods from their possession. The

Customs Intelligence told the court that accused persons were involved in smuggling of cloths from Afghanistan into Lahore and Faisalabad via different routes. They have been involved in smuggling for long time. The amount of the recovered cloths is Rs8.3million, customs investigation told the court. The customs investigation team had presented them before the customs court and asked for their physical remand to dig out the network behind this smuggling maRia. –CB Report

Hussain Bhatti, Mansoor Elahi, Muhammad Aslam Ch, Azam Watto.

After due process, the Daewoo bus was spotted and upon inspection, the foreign-origin smuggled goods were recovered.

Meanwhile, Anti-smuggling mobile squads of Collectorate of Cus-

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toms Preventive starts performing their duties.

Sources told Customs Today that these anti-smuggling squads comprising 56 personnel, which includes 14 customs inspectors, while Inspector Amjad Khan is appointed as head of these squads.

customs tribunal hears 18 cases he Customs Appellate Tribunal (single & double) bench heard 18 cases on Monday and adjourned all the cases to different dates and reserved the verdict of a few cases. According to the details, the division bench-II comprising chairman Justice (r) Malik Manzoor Hussain, Member Technical Imran Tariq, heard eight cases, including Imtiaz Ahmed versus Customs Lahore, Collector Customs Faisalabad versus Chenab Limited, Collector Customs Faisalabad versus JS Brothers, Viva International versus Customs Lahore. On Monday, the same bench heard a case of Fahad

Jabbar versus Customs Lahore, Azhar Brothers; three appeals Riled against Customs Faisalabad. The single bench-I comprising Muhammad Shabir Gujjar Member Judicial heard eight cases including Muhammad Nawaz versus Directorate of Intelligence and Investigation Lahore, Barkat Steel Mills versus Anti Smuggling Organization (ASO) Multan, Collector Customs Multan versus Waris Jameel. Furthermore, same bench heard Chaudhry Ali Mubshir versus Anti Smuggling Organization (ASO) Lahore, Jeelan Logistics versus Customs Faisalabad. –CB Report

customs tribunal remanded back appeal of M/s Salman Daud

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LAHORE

SAJID NAwAZ

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ustoms Appellate Tribunal has remanded back appeal Riled by M/s Salman Daud versus Directorate of Intelligence and Investigation-FBR Faisalabad.

Member Technical bench-II Imran Tariq heard the case in details

and passed the order that same case has been remanded beck to the adjudication authority for decision after Rinalizing the main impugned appeal. According to the details, on the information r staff of FBR intelligence that the Indian origin gray cloths were being imported to Pakistan in the guise of Chinese original cloth using fake documents including bill of lading.

In pursuance of information the senior intelligence ofRicer intercepted a trailer carrying goods Jaranwala Road to Faisalabad. On quarry, the trailer driver identiRied himself as Noor Muhammad and presented copy of GD number stated that he had loaded the container from Prem Nagar Dry Port Lahore. After the shortage of legal documents the same were brought to directorate un-

der Section 17 of Customs Act 1969.

After the scrutiny and detailed inquiry of overall case, the goods were seized under section 168(1) of Customs Act 1969. Show cause notice were issued and adjudication proceeding were culminated by the authority passed. Order-in-Original that owner of goods may pay the Rine equal to 20 percent of Customs Value or Pay Order of Rs 4, 00, 000.

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Friday, November 3, 2017

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MULTAN IMrAN ALI www.customsbulletin.com

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he Customs Collectorate has collected Rs.3044.272 million under different heads including customs duty, sales tax, federal excise duty and income tax during the month of October of Fiscal Year 2017-18.

According to the statistics available with Customs Today, the Multan Customs collected Rs.886.169 million customs duties against the assigned target of Rs836.070 million during month of October.

The Collectorate of Multan Customs has witnessed Rs50.099 million excess collections than their set target with 6 per cent increase in the collection of customs duty.

The Collectorate has collected rev-

enue of Rs2102.398 million in share of sales tax in the month of October against its set target of Rs.2658.69 million. Multan Customs has attained the 80 percent revenue target of sales tax during October.

Similarly, Customs Collectorate Multan was assigned revenue target of Rs.14.26 million in wake of Federal excise duty and it collected Rs.32.827 million with realizing almost 80 percent collection target during said month. Multan Customs posted 130 % growth in the collection of Federal Excise Duty during October.

Multan Customs also collected Rs.22.142 million in wake of income tax during the month of October against the set target of Rs.23.39 million by attaining 94.7 % revenue collection goal.

The Customs Collectorate Multan has also generated Rs.0.736 million in wake of additional sales tax

and Rs.1130.648 million in terms of petroleum development levy during October of monetary year 2017-18.

On the whole, Multan Customs has collected revenue of Rs.3044.272 million including all heads of taxes in the Rirst month of second quarter of Riscal year 2017-18.

Multan Customs authorities have expressed satisfaction over the accomplishment of the revenue target during October and Collector Saud Imran Ahmad has directed Multan Customs staff to continue their revenue efforts for achieving revenue targets in the future as well.

oms n cust a t l u of M illion torate .099 m 0 5 collec s r ed their itness s than n has w o i t c t colle er cen excess ith 6 p w t e n of rg llec tio set ta o c e h se in t i n c re a s dut y custom

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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

rising debt obligations

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As foreign debt obligations have reached 162 percent of the annual foreign exchange earnings, the debt servicing capacity of the country has significantly weakened during the last four years. According to former State Bank governor Dr Ishrat Husain, the ratio of liabilities have reached the highest level in one decade, which was equal to 124 percent of the foreign exchange earnings in 2008. The external debt servicing has also gone up to 16 percent in four years which was 13 percent in 2013, showing that it would consume up to 30 of the export receipts. The ‘credit’ goes to the beleaguered finance minister for the pathetic financial situation of the country who blatantly claims to have achieved macroeconomic stability. The domestic debt has mounted to a whopping Rs 15.4 trillion.

Economists believe the growing trade deficit due to continuous decline in export earnings should have set off alarm bells as the rapid depletion of foreign exchange is a cause of concernfor the policymakers. The volume of the gross public debt was Rs14.3 trillion of gross domestic productswhen the PML-N took over the office in 2013 which has grown to Rs21.4 trillion in four years.

According to financial experts, the government will have to take proactive approach to manage the external account keeping in view the external debt of $83.

Meanwhile, the government has obtained another loan of $450 million to boost foreign currency reserves in the backdrop of inconsistent financial management. The budget deficits are expected to cross the ratio of 5.8 percentwhich had been recorded during the previous fiscal year. It appears the government has lost the success which it achieved in the form of economic gains in its first three years in the office. To cover the loss of $2 billion in foreign currency reserves during the first quarter of the current fiscal year, the government took another loan to arrest the situation. The rupee is losing its value against dollar despite Finance Minister Ishaq Dar’s commitment to keep it at a certain level. The maintenance of forex at the cost of economy is a blunder the government is committing and it will cost heavily to the coming generations. In absence of a major reform or policy, the industrial sector is on the downward trajectory.

economy of heavy loans A

LAHORE

Dr AFtAB AFZAL

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ccording to news reports, the debt volume is piling up and has reached an alarming stage. The government has already added new debt of $796.8 million to its portfolio during the first quarter of the current fiscal year while it is ready to borrow another $2 billion to finance the development projects.The government is planning to generate this money by floating Euro and Sukuk bonds in the international capital markets and the official policymakers are looking for loans and grants from every possible external source without realizing that the coming genera-

tions will have to reap what they are sowing. Ironically, the borrowings are made for short-term economic gains rather than devising long term policies for the development of industry and trade. At least $458 million, out of the $796.8 million,had been acquired from a consortium of both foreign and domestic commercial banks for budgetary support. The rest of the money was committed by the International Islamic Trade Finance Corporation under the Islamic finance system. The total external debt has swelled to 67.2 percent of the gross domestic product and no one knows when the government will apply brakes and will stops obtaining further loans.

As a result of the falling exports, the trade deficit has reached $32.4 billion, and the government has recently imposed duty on hundreds of ‘luxury goods’ to arrest the imports in the country. Experts believe the local industry has been burdened with unreasonable taxes which has increased the cost of production and curtailed the ability of the local manufacturers to compete in the international market. The government will have to give tax holidays to local and foreign investors and create a business friendly environment to stimulate the industrial sector.The more business opportunities meant more revenues for the government cof-

fers. The government needs a heavy amount to finance and maintain the administrative affairs and instead of generating income by boosting economic activities, it wants to acquire it through duties and taxes. A report issued by the World Bank puts Pakistan at 144 among 190 countries of the world in terms of institutional support to do business. It also reveals the fact that the government needs to revise its policies to create conducive environment for the development of business in the country.

So far, the government should shun its habit of turning toward international financial institutions for obtaining loans on heavy markup rates.

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Office Superintendent Sikandar to retire on March 8 ISLAMABAD: Sikandar Hussain Zaidi, a Pakistan Customs Service officer of BS-16, is going to retire from the government service on attaining the age of superannuation.

The officer, posted as Office Superintendent at Model Customs Collectorate (Appraisement), Lahore, will stand retired from the government service on March 8, 2018.

Meanwhile, Muhammad Idrees Sheikh, an Inland Revenue Service officer of BS-17, is going to retire from the government service on attaining the age of superannuation.

The officer, presently posted as Superintendent at Regional Tax Office, Lahore, will stand retired from the government service on November 18.

AFu collects extra revenue of rs96.99 million as all taxes

Friday November 3, 2017

National

tribunal orders release of Land cruiser to owner by setting aside oNo

ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

he Customs Air Freight Unit Islamabad earned extra revenue of Rs96.99million under all the taxes during the first 20 days of October Financial Year 2017-18 against the collection of the same period of corresponding 20 days of October Financial Year 2016-17. According to details given by Nisar Ahmad Phullerwan, Additional Collector Air Freight Unit (AFU) Islamabad, that the AFU collected revenue amounting to Rs650.589million during Financial Year (FY) 2017-18 while it did Rs553.598million during the same period of 1st to 20th of October FY16-17.

Additional Collector told Customs

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Today that, during above said period, the AFU received revenue of Rs145.318million as Customs Duty (CD) whereas it did Rs124.381million during the same period and head during FY16-17. During initial 20 days of FY17-18, the AFU generated Rs326.866million of Sales Tax (ST) while it did Rs27.509million as ST. The AFU got Rs32.946million of Additional Sales Tax while it did Rs32.129million during the same period of previous FY16-17 under the head of Additional Income Tax (AIT). Additional Collector told CT that the AFU earned Rs356.812million during initial 20 days of FY17-18 whereas it did Rs306.129million during the same period of FY16-17. The AFU collected Rs145.186million as Income Tax (IT) during initial 20 days of FY17-18 while it did Rs122.815million during the same period of October FY16-17.

ISLAMABAD

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SAJID NAwAZ

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he Customs Appellate Tribunal has set aside the impugned order of an appeal filed by one Muhammad Shafique against the AdditionalCollector of Customs Adjudication and Directorate of Intelligence and Investigation-FBR Sadiqabad.

Omer Arshed Hakeem, Member Judicial Bench-II, heard the case in detail and passed the judgment that the appeal filed by the appellant stands accepted and impugned order is set aside. Resultantly, the impugned Land Cruiser Jeep was released unconditionally to its lawful owner.

As per brief history of the case, Staff of the Customs Intelligence and Investigation-FBR Sadiqabad intercepted the Toyota Land Cruiser. On demand, driver failed to produce the documents showing the legal import of said vehicle. But no one appeared before the seizing agency to show the legal import of the seized vehicle. The vehicle was impounded by the seizing agency

under the Customs Act-1969.

After a show cause notice,customs adjudication authority, hearing the case, passed the Order-InOriginal with the remarks that the vehicle was taken into possession rightly. Appellant aggrieved from the Order-In-Original Riled a case in

the Customs Appellate Tribunal on the grounds that the impugned Order-In-Original is an utter disrespect to the law, totally against the facts and circumstances of the law which is liable to be set aside. On the other hand, respondent department denied all the allegations and

appeal for the rejection of the case.

After examining the record and hearing all the circumstances of the case, Customs Appellate Tribunal has accepted the appeal of Muhammad ShaRique, a resident of Karachi, and ordered the release of the vehicle unconditionally to lawful owner.

Shc seeks remarks on plea filed by M/s Faraz combine KARACHI

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he Sindh High Court (SHC) has directed parties to file comments on a constitutional petition filed by M/s Faraz Combine Marketing Company (Private) Limited for quashment of the FIR lodged against it alleging imported kerosene oil in the garb of white spirit. A two-member bench, comprising Justice Munib Akhtar and Justice Omer Sial, heard the petition.

Earlier, counsel for the petitioner stated that it is importer and trading petrochemicals and allied products, such regards imported from Seychelles a consignment 1979.795 metric ton of white spirit and Riled goods declaration (GDs) according with law. According to the peti-

tioner, he was shocked when he was informed by the ofRicials of the customs department that FIR was lodged against it by customs authorities, wherein, it was alleged that the petitioner in a garb of white spirit had imported kerosene oil

which falls in import control policy and violation of customs’ policy.

He argued that allegations of the customs department are baseless and he imported white spirit after fulRilling all requirements.

Citing Secretary Revenue Divi-

sion, Director Customs Enforcement Directorate General Intelligence and Investigation-FBR and seizing/ investigation ofRicer of the department as respondents, he pleaded the court to declare the act of the respondents as illegal, mala Ride and arbitrary. He also pleaded the court to quash the FIR lodged by customs authorities and restrain the customs department, its ofRicer/ agents and any ofRicer from taking any coercive action against it.

Meanwhile, The Sindh High Court (SHC) has directed the customs authorities to Rile a rejoinder on a constitutional petition Riled by M/s Essatex Industries against seizing of a consignment of polyester and viscose of various kinds on the charges of tax evasion. A two-member bench, comprising Justice Munib Akhtar and Justice Omer Sial, was hearing the petition.

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Senior Preventive officer Zahoor to retire on Nov 30 Friday November 3, 2017

National omer Bin Zafar assumes charge as Assistant collector in Multan

ISLAMABAD: Zahoor Ahmed, a Pakistan Customs Service officer of BS-16, is going to retire from the government service on attaining the age of superannuation.

The officer, presently posted as Senior Preventive officer at Model Customs Collectorate (Preventive), Karachi, will stand retired from the government service on November 30.

Abdur razzaq relinquishes charge as Additional commissioner-Ir

ISLAMABAD

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ISLAMABAD

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mer Bin Zafar Chattha, a Pakistan Customs Service officer of BS-17, has assumed charge as Assistant Collector. The officer, in pursuance of Board’s Notification No. 2720-C-II/2017 dated 28.09.2017, relinquished the charge of the post of Assistant Collecto r, Model Customs Collecto rate of Preventive, Lahore with effect from October 3.10.2017 and has assumed the charge of the post of Assistant Collector, Model Customs Collectorate, Multan on October 10. Meanwhile, Imtiaz Ahmad, a Pakistan Customs Service officer of BS17, has taken charge as Assistant Collector in Hyderabad. Imtiaz, pursuing the Board’s Notification No. 2720-C-II/2017 dated 28.09.2017, relinquished the charge of the post of Assistant Collector, Model Customs Collectorate of Preventive, Karachi with effect from October 3 and assumed the charge of the post of Assistant Collector, Model Customs Collectorate, Hyderabad on October 4.

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FBr modifies notification of transfer/posting ederal Board of Revenue has modified notification of Syed Mashkoor Ali’s transfer/posting. In partial modification of Board’s Notification No.2628-IRI/2017 dated 20-09-2017, transfer/posting of Syed Mashkoor Ali (BS-18) Deputy Commissioner-IR, RTO-III, Karachi appeared at Serial No.64 has been cancelled ab inito.

Meanwhile, Syed Mashkoor Ali, Inland Revenue Service officer of BS18, has been transferred and posted as Deputy Commissioner-IR. The officer, presently posted as Deputy Commissioner-IR, RTO-III, Karachi, was posted at (BTB Zone), Karachi with immediate effect & until further orders. –CB Report

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bdur Razzaq Khan, a BS-19 ofRicer of Inland Revenue Service, has relinquished charge as Additional Commissioner-IR. The ofRicer, in pursuance of Board’s NotiRication No. 2883-IRI/2017, dated 16.10.2017, relinquished the charge of the post of Additional Commissioner-IR-, Regional Tax OfRice, Islamabad with effect from October 17.

Meanwhile, Rozi Khan Burki, a Pakistan Customs Service ofRicer of BS-22, has assumed charge as Member (HRM). The ofRicer, pursuing the Board’s NotiRication No. 2857-IRI/2017, dated 11.10.2017, relinquished the charge of the post of Member (BS-22), Federal Board of

Revenue (HQ), Islamabad with effect from October 12 and assumed the charge of the post of Member (HRM) on the same date.

He was transferred and posted as Member (HRM) at Federal Board of Revenue (HQ), Islamabad last week. Burki has also been serving as

Member (HRM) from February 19, 2016 after relinquishing the charge as Chief Collector Customs (Central), Customs House.

Quetta customs impounds Iranian diesel valued at rs24.869m during four months T

ISLAMABAD

tArIQ DerYA

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he Model Customs Collectorate Quetta seized Iranian diesel worth Rs24.869million during the first four months (July to October) Financial Year 2017-18.

The vehicles, carrying smuggling diesel, are rarely intercepted in Hyderabad by the customs authority. Member Customs Zahid Khokhar, on the direction of Tariq Pasha, Chairman Federal Board of Revenue (FBR), has directed the Quetta Collectorate to take effective measures to arrest the smuggling of Iranian petroleum products with the cooperation and help of the customs intelligence and other law enforcement agencies.

According to details explained by sources that, in pursuance of the serious notice taken by Chairman

FBR regarding the conRiscation of smuggling Iranian petroleum products, the Collectorate of Quetta impounded 492,825 liters of diesel

valued at Rs24.869million during four months of current Financial Year 2017-18. The Collector Quetta told CT that, during the same cor-

responding period FY16-17, the MCC Quetta seized 338,272 liters of smuggling Iranian diesel priced at Rs17.035million.

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NAB to file reference against PDA Director PESHAWAR: The Regional Board Meeting (RBM) of National Accountability Bureau (NAB) Khyber Pakhtunkhwa was held under the chairmanship of Brig (R) Farooq Naser Awan, Director General NAB (KP) here at Peshawar.

The meeting was attended by Directors, Additional Directors, Case Officers, Senior Legal Consultants and other concerned officers said a press release.

The decision has taken in the meeting that Board authorized several inquiries and approved filling of references in Accountability Court. The Board recommended conversion of inquiry into investigation against Deputy Commissioner Shangla and other regarding corruption and corrupt practices embezzlement of funds to the tune of Rs.123.8 Million.

Standerd & poor lauds pakistan’s economic progress ISLAMABAD

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tandard and Poor’s (S&P) Global Ratings, a global rating agency, affirmed Pakistan’s ‘B’ long-term and shortterm sovereign credit rating. “The outlook for the long-term ratings remains stable,” the S&P stated in its latest report. The stable outlook reflects the S&P expectations that Pakistan’s external and fiscal metrics will not worsen materially from their current levels. “We believe the country’s economic prospects remain favourable,” it stated. S&P further expected Pakistan’s GDP to grow at an average of 5.7 percent in the period 2017-2020. Meanwhile, the government of Pakistan welcomed the annual rating report by S&P as a manifestation of soundness of economic policies.

“Affirmation of Pakistan’s better economic

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prospects, higher and inclusive GDP growth in coming years with stable economic outlook reflects on the economic management of the government of Pakistan” the Ministry of Finance spokesperson said. “We may raise our ratings on Pakistan if the country’s security environment settles to an extent that economic growth continues to trend higher, strengthening the country’s fiscal and external positions. Conversely, we may lower our ratings if the current infrastructure investments do not yield any positive impact on macroeconomic stability.

Indications of this would include GDP growth below our forecast, or external or fiscal imbalances higher than what we expected,” the S&P stated. The S&P has revised downward our expectation of Pakistan’s external performance due particularly to an expected surge in imports stemming from substantial infrastructure-related CPEC projects in the next two years.

National

Dc Adjudication Asma hameed serves notice on vehicle smuggler

tribunal adjourns hearing of reference filed by M/s klaguardia Logistics ISLAMABAD

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ustoms Appellate Tribunal dated in office hearing of customs references filed by M/s Klaguardia Logistics and M/s Trade Master after hearing arguments from Collectroate of Customs, Islamabad. Customs Appellate Tribunal’s bench comprising Members Tribunal, Syed Muhammad Anwar and Muhammad Nasir Khan heard the matters submitted by M/s Klaguardia Logistics and M/s Trade Master against Collectroate of Customs, Islamabad.

Customs Appellate Tribunal would hear recently filed customs reference filed by M/s Kohinoor Trader on Tuesday. Counsels from M/s Five Star Trading had appeared before the bench and demanded time from the bench for finalizing preparations for the case. Customs appellate tribunal’s Member Technical, Ziaddin Wazir had heard the cases of Raja Nabeel, Waqas Enterprises, Arshad Khan and Musawir Shah had filed the cases last week. Raja Nabeel had filed the cases against Directorate of Intelligence and Investigation, Islamabad. Other three appellants had filed their cases against Collectorate of Customs, Islamabad.

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he Customs Adjudication Deputy Collector Asma Hameed has issued a show cause notice to an accused involved in the smuggling of a Toyota Corolla car. As per details, Mianwali Anti Smuggling Organization (ASO) stopped the Toyota Corolla car with registration no: AAH-082 near M. M Alam Road Mianwali but the driver escaped. The ASO staff started chasing the vehicle and held it but the driver Rled the scene.

ASO Superintendent Choudhary Muhammad Sardar along with his team impounded the vehicle and sent the case to Customs Adjudication for further legal action.

Deputy Collector Asma Hameed served a notice on accused Abdul Samad Khan on violation of Section 10-A 89(1) and 156(1) of the Customs Act-1969. The adjudication also ordered the accused to file his reply by October 30, 2017.

Asma Hameed directed the customs officials that reply should be submitted against the impounded vehicle case for further proceedings. She also ordered ASO Deputy

Friday November 3, 2017

Collector (AC) Shah Samad Hamadani to attend the hearing on the scheduled date along with the relevant record.

Meanwhile, The Anti Smuggling Organization (ASO) Sara-eMuhajir impounded foreign origin used Suzuki Jiminy Sierra jeep in blue colour. The market value of the impounded vehicle is Rs6,34,725 involving customs duty to the tune of Rs2,84,725. Sources told Cus-

toms Today, that Assistant Collector Shah Samad Hamadani received information regarding about some non duty paid vehicles plying on roads. After receiving the information he immediately constituted a raiding team comprising Superintendent Chaudhary Muhammad Sardar, Inspector Muhammad Umar, Havaldar Muhammad Ashraf Khan, Sher Ahmad, Said Rasool and Faiz Ahmad (sepoys).

Mobile Banking, Internet Banking flourishing in pakistan

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ISLAMABAD

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total of 2.3 million Internet Banking users have been registered by end of June 2017, showing a reasonable annual growth in volume and value of transactions.

A variety of Rinancial services are being offered by 25 banks through Internet Banking (IB) like Intrabank & Interbank Fund transfer, scheduled fund transfers, Utility Bills Payments, Mobile Air-time top up, Intra-bank credit card payments, School fee payments etc.

In last Rinancial year 2016-17, Internet Banking processed 25.2 mil-

lion transactions worth Rs. 968.7 billion, showing Year on Year (YoY) growth of 32.5 per cent and 10 per cent in volume and value of transactions respectively.

The adaptation of internet and mobile banking has witnessed a remarkable growth as number of users and their use of the banking services through advanced and convenient channels are on the rise.

According to data issued by State Bank of Pakistan (SBP), Utility Bills Payments contributed 9 million (35.9%) in volume and Rs. 18.6 billion (1.9 per cent) in value of transactions while remaining shares consist of other miscellaneous

payments including school/university fee submissions, mutual fund payments, credit card payments, etc.

The share of Intra Bank Fund transfer transactions is 6.6 million (26.1 per cent) and Rs. 258.2 billion (26.7 per cent) in volume and value of transactions respectively, whereas share of Inter Bank Funds transfers transactions in volume and value of transactions is 7.5 million (29.7 per cent) and Rs. 310.1 billion (32 per cent) respectively.

Internet Banking also facilitated 88.2 million non-Rinancial transactions which include pay order, cheques books, bank account statements and Debit Cards etc. With re-

gard to Mobile Banking, the data revealed that Mobile Phone or App based banking is being offered by 18 Banks including MicroRinance Banks to 2.5 million registered users, as of June 2017. Mobile Phone Banking processed 7.4 million transactions worth Rs 141.4 Billion during Fiscal Year 2017, showing YoY growth of 12.1 per cent and 25.7 per cent in volume and value of transactions respectively. Intra bank and Interbank fund transfer were main contributors in total Mobile Phone Banking transactions. Intra bank fund transfers contributed 2.1 million (28.3 per cent) transactions by volume and Rs. 60.0 billion (42.4 per cent) by value.

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World Customs

Bank of Ireland buys portfolio of 1,000 mortgages

DUBLIN: Bank of Ireland, the Sunday Times reports, has bought a portfolio of more than 1,000 home mortgages from Shoreline Residential, an affiliate of the American private equity group Lone Star, for an undisclosed amount. The deal represents a further step in the bank’s strategy of growing its loan book by acquiring mortgages after they have been restructured by distressed debt specialists.Relm, the property fund launched earlier this year by former AIB bankers, is set to receive another €100 million in funbding from its main backer, US private equity fund Avenue Capital, which has over $9 billion in assets, the Sunday Business Post reports.

Friday November 3, 2017

hk customs seizes 830,000 suspected illicit cigarettes

credit Suisse activist seeks $1b to back breakup plan SWITZERLAND

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he customs of China’s Hong Kong Special Administrative Region (HKSAR) announced that it had seized about 830,000 suspected illicit cigarettes at a border control point. The cigarettes, with an estimated market value of about 2.2 million Hong Kong dollars (about 280,000 U.S. dollars) and a duty potential of about 1.6 million Hong Kong dollars (about 210,000 U.S. dollars), were seized Friday at Man Kam To Control Point, the Customs and Excise Department of the HKSAR government said in a press release.

Customs ofRicers intercepted an incoming container truck declared as carrying assorted goods at Man Kam To Control Point and found the suspected illicit cigarettes in 104 carton boxes in the container. The male driver,

uS polished diamond exports drop S polished-diamond trading slowed in August, according to government data. Polished imports slid 7% to $1.55 billion for the month, figures showed. Polished exports slipped 0.4% to $1.38 billion, meaning net polished imports the excess of imports over exports fell 37% to $176 million. By volume, polished imports declined 19% to 735,000 carats, with the average price increasing 15% to $2,113 per carat. Rough imports more than doubled to $33 million from $13 million a year ago, while rough exports grew to $124 million from $16 million. Net rough imports stood at negative $91 million, compared with negative $2 million a year ago. The US net diamond account total rough and polished imports minus total exports fell 70% to $85 million. –CB Report

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aged 53, was arrested. The container truck was detained. Investigation is ongoing. Smuggling is a serious offence in the HKSAR. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum Rine of 2 million Hong Kong dollars (about 260,000 U.S. dollars) and imprisonment for seven years. Meanwhile, Hong Kong Customs arrested a

male owner of a car beauty service centre suspected to have wrongly accepted payment, in contravention of the Trade Descriptions Ordinance (TDO). Customs earlier received information alleging that a car beauty service centre in Tai Po had closed down suddenly and was unable to provide the relevant services after accepting payments, as well as failing to return the payments to customers.

Northern Ireland company director disqualified over £83k debt

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he Department for the Economy has accepted a disqualification undertaking from the director of a food, beverages and tobacco retail business. The undertaking was received for nine years from Patrick Owen McGrath of Long Island Drive, Newtownards, in respect of his conduct as a director of Carrickglen Retail Ltd. The company operated as a retailer of food, beverages and tobacco for-

merly from Donaghadee, Co Down.

The firm then went into liquidation on September 3 2015 with estimated total assets available for creditors of £Nil, liabilities to unsecured creditors of £83,131 and an estimated deficiency as regards creditors of £83,131. After taking into account the losses incurred by shareholders of the company the estimated total deficiency was £83,132. –CB Report

udolf Bohli, the activist hedge-fund manager pushing for a breakup of Credit Suisse Group AG, said he’s in talks with more than 150 potential investors with the goal of raising 1 billion francs ($1.02 billion) for his campaign. Bohli, whose Rirm RBR Capital Advisors AG currently manages about 250 million francs, said most of the potential backers he pitched on his idea aren’t Credit Suisse shareholders. He said he was conRident he could raise the funds in coming months based on those discussions, without providing details. “There is a huge interest in this because the whole banking sector has not been disrupted really,” Bohli said in an interview. “A lot of the investors we talk to see this opportunity.” Bohli, whose Rirm owns

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about 0.2 percent of the Swiss lender, is urging Credit Suisse to be split into three companies, arguing such a move would double the bank’s current market value of about 40 billion francs. His plan has been dismissed by the company and its biggest shareholder, Harris Associates, which owns 9 percent of Credit Suisse.

David Herro, a partner at Harris, has said while elements of the proposal should be looked at, Bohli’s valuations were “pie in the sky” and the investor has too little “skin in the game.” “We are fully supportive of the Credit Suisse management and do not support RBR’s plan to split up” the bank, Herro said by email.

Meanwhile, Switzerland’s net palladium exports in August hit their highest since April 2013, Swiss customs data showed on Thursday, as a jump in shipments of both raw and semi-manufactured metal from the country outstripped a smaller rise in imports. Raw palladium exports reached 2,988 kilograms, their second highest since July 2014.

office space prices rise 0.4% in Q3

emand is growing amongst shipping, energy, legal, and tech sectors. The price of office spaces in Singapore increased 0.4% in Q3, compared to the 1.4% decline in Q2, Urban Redevelopment Authority (URA) revealed.

Rentals of office spaces rose by 2.4% in Q3, compared to the decline of 1.1% in Q2. According to Cushman & Wakefield (C&W) Research director Christine Li, “With strong 3Q2017 gross domestic product (GDP) numbers confirming an earnings recovery story in 2017, market confidence has returned to the office sector, particu-

larly the newer prime office buildings with higher specifications.” Demand for office space in premium locations has also been buoyant.

Based on C&W’s Grade A central business district (CBD) basket, ofRice rents rose by 3.4% QoQ to $8.90 psf pm. In addition, the net absorption for Grade A CBD for the Rirst 9 months of the year amounted to 1.77 million sqft, signiRicantly higher than the annual average of 1 million sqft over the last 10 years.

Absorption in the Downtown Core micro-market also hit to 139,930 sqft, showing a strong quarter of net demand. –CB Report

Bangladesh Bank asks banks to tighten offshore lending

B DHAKA

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angladesh Bank has asked banks to tighten their lending in foreign currency through their offshore banking units with the view to stabilising the exchange rate. The instruction came at a meeting yesterday with the top executives of banks that have off-

shore banking units. The central bank is concerned about banks’ offshore exposure as they are collecting foreign currency funds from local sources instead of foreign sources, putting pressure on the foreign exchange rate, said SK Sur Chowdhury, deputy governor of the BB. “An asset liabilities’ mismatch has been created, which, in turn, is creating volatility in the exchange rates.”

Subsequently, the banks were in-

structed to abandon their aggressive approach to lending in foreign currency. “Banks have been asked to reduce onshore borrowing to strike a balance between the inRlows and outRlows of foreign currency,” Chowdhury added. At present, the offshore units’ total outstanding loans stand at $6.4 billion, which is about Tk 51,200 crore.

Of the total offshore exposure, 31.6 percent was borrowed from local

source. The main function of the offshore units is to borrow from foreign sources and lend them to clients who have foreign earnings, said Syed Mahbubur Rahman, managing director of Dhaka Bank. But banks collect a major portion of their foreign currency funds from local sources, like their own treasury department or other local banks on a short-term, and lend at their offshore units for long-term.

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Shipping activity at Port Qasim KARACHI: Three ships M.T Brizo, M.T Dae Won and M.V Bulk Polaris carrying 67,967 tonnes Furnace oil, 14,000 tonnes Palm oil and 33,895 tonnes Coal were all berths at FOTCO Oil Terminal, Liquid Cargo Terminal and Pakistan International Bulk Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) Meanwhile three more ships with Containers and Coal also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was observed at the port at 53% on Sunday where a total of nine ships namely Nicoline Maersk, APL Hawall, Bulk Polaris, Sinar Kutal, Nicosia Pegasus, Mid Fortune, Dae Won, CTG Bismuth and Brizo are currently occupying berths to load/offload Containers.

port of charleston back on record-breaking track in Sep fter missing the mark in August, the State Ports Authority climbed back into record territory in September with an 11 percent increase in containerized goods moving across the Port of Charleston’s terminals. The SPA has now set cargo records in eight of the first nine months of this year and set an annual mark for fiscal 2017, when ended June 30. In September, the SPA moved 101,902 containers. That compares with 91,784 a year ago. Cargo measured in standard 20-foot units called TEUs, the maritime industry’s benchmark for measuring container volume also set a record for September with 179,856 boxes moved. That’s a 10.4 percent increase over the same month last year. “The port continues to see year-over-year growth and our first-quarter results, including record

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September container volumes, reflect a very positive start to our 2018 fiscal year,” Jim Newsome, the SPA’s president and CEO, said in a statement.

The agency’s inland port in Greer moved 10,648 cargo containers between trucks and trains in September and its fiscal year-to-date numbers are 16 percent higher than the same period a year ago. While containerized cargo levels were up, other freight saw declines. Breakbulk, or cargo that isn’t shipped in containers, was down 1.3 percent from a year ago while the number of finished vehicles declined by nearly 27 percent.

Newsome said a change in models built at the BMW plant Greer is still affecting the number of vehicles the German automaker is exporting to foreign markets. –CB Report

Ports & Shipping

georgia ports Authority announces record cargo in FY2017

BpA responds to National Infrastructure Assessment esponding to the National Infrastructure Commission’s interim National Infrastructure Assessment, the British Ports Association Chief Executive, Richard Ballantyne, welcomed the attention on the UK’s long-term transport challenges but called for greater public investment in freight and network connectivity. Commenting, he suggested: “The NIC’s Assessment provides an important wake-up call for the Government, highlighting some of the challenges the nation faces in terms of our transport infrastructure. The UK’s transport network is vital for ports and all in the freight and logistics sector. UK ports have invested in their own infrastructure but they are reliant on good rail and particularly road connections. We welcome the long-term approach but feel that the Assessment’s vision of a well-maintained transport network should include a greater focus on port and freight issues. –CB Report

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WASHINGTON

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eorgia Gov. Nathan Deal joined Georgia Ports Authority (GPA) ofRicials late last week in announcing record cargo volumes for Riscal-year 2017 and new infrastructure development plans.

In a review of the ports’ work in FY2017, Deal announced growth of 8.3 percent in total tonnage across all terminals. Savannah handled 3.85 million 20-foot-equivalent units (TEUs), while Brunswick moved 607,000 auto and machinery units. No other Southeast port recorded greater volumes for those commodities, Deal said in a press release. FY2017 covers the period from July 1, 2016, through June 30, 2017. In his state-of-the-ports speech, GPA Executive Director Griff Lynch announced two signiRicant ecommerce developments: National furniture supplier Noble House will build a 630,000 square-foot facility

Friday November 3, 2017

that will serve the eastern United States, while home accessory company Best Choice will build 345,000 square feet. Those plans are in addition to 3 million square feet of distribution center space completed within the last year and 5.2 million square feet now under construction, GPA ofRicials said.

Meanwhile, The Port of Oakland has announced that its maritime revenue grew by just 1.8% in the Riscal

year of 2017, which ended on 30th June. This was the Rirst full Riscal year without Ports America Outer Harbour. Ports America exited the terminal in January 2016, saying it was refocussing its West Coast strategy on Los Angeles, Long Beach, the PaciRic Northwest and Western Canada. At the time, Ports America’s decision was criticised by the Port of Oakland for the alleged suddenness of its withdrawal and the disruption caused.

port of Napier appoints new chief executive WASHINGTON

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apier Port has appointed a new chief executive to take over from long-standing Garth Cowie who announced his retirement earlier this year. Auckland’s Todd Dawson, who has spent the last Rive years at Kotahi Logistics (a freight and logistics management company), will be moving into his new role next year. For the last two years at Kotahi Logistics he has been general manager of BoxConnect, leading the company’s strategic programmes and implementation of new ventures and strategic partnerships. He has more than 20 years’ experience and has previously held senior roles at IBM and Toll New Zealand. Mr Dawson will join the Napier Port team in January relocating from Auckland and said

he is looking forward to the new challenge. “Napier Port is a vital link between central New Zealand businesses and world markets, and has a special place in the history of Hawke’s Bay,” he said. “It’s an exciting time to join, and I’m delighted to have been appointed to the role.

“I’m looking forward to meeting the Napier Port team, as well as its community of customers and stakeholders.” “Hawke’s Bay is a fantastic place to live and we can’t wait to settle in such a beautiful spot.”

Napier Port Chairman Alasdair MacLeod said he welcomed Mr Dawson to the position. “It has been a lengthy process, and we’re pleased to have found the right person for the role. “Our congratulations go out to Todd and we are looking forward to welcoming him and his family to Hawke’s Bay.” Mr Dawson replaces Garth Cowie, who is retiring from the role after nearly two decades of lead-

ership, vision and dedication at the helm of Napier Port, Mr MacLeod said. “Under Garth’s leadership, Napier Port has seen 18 years of continuous growth and investment in infrastructure and capability. “He has built a strong team around him and his vision has ensured that Napier Port is well-positioned for the future. ” “He leaves big shoes to Rill, but I’m conRident Todd brings the skill, acumen and tenacity we need to take Napier Port into the future.” Mr Cowie said he was pleased Mr Dawson had been appointed to the position. “Napier Port is well-positioned for the future and I’m conRident that I leave the company in the very capable hands of Todd. “I am immensely proud of the team we have here, the culture we have built, and everything we’ve achieved over the past two decades. “The Napier Port team are looking forward to working with Todd, and I know they will give

him a warm welcome and their support.” During Mr Cowie’s time as chief executive Napier Port became the fourth largest container terminal in New Zealand and has seen 17 years of continuous growth. Meanwhile, The Tunisian Ports and Fishing Agency has warned Rishing boats of approaching Libyan territorial waters after orders issued by Libyan Naval Forces to strike any boat passing or approaching the Libyan coast.

The Tunisian Press Agency quoted the head of the Regional Union of Agriculture and Fisheries, Abdulrazak Krishan, as saying that the Libyan warning will be taken seriously to avoid what he called any potential danger, owing the problem to the lack of clarity of the maritime border between Libya and Tunisia.

Krishan called on the authorities of both sides to work on the border demarcation in order to avoid sailors from getting into trouble.

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579,000 tax returns till Oct 31 in Multan region Friday November 3, 2017

Business

MULTAN: Exactly 579,000 people have filed tax returns in the Multan region till Oct 31, tax officials said.

Officials from regional tax office said that number of filing of tax returns through online system, Iris, could not rise significantly due to a technical problem with the online system.

However, the number of tax filers would increase as the Iris system was now functional and date of filing tax returns has been extended till Nov 15.

Ahsan urges to play lead in industrial phase of cpec ISLAMABAD

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inister for Planning and Development, and Interior Ahsan Iqbal called upon the private sector investment and business community to play a leading role in materializing the phase of Industrial Cooperation under China Pakistan Economic Corridor (CPEC).

Chairing a meeting on exploring business opportunities under CPEC, the minister said the private sector of Pakistan has to play the role of an engine of growth in CPEC and attract foreign investors from across the globe and seek Joint Ventures

Accountability court summons Dar’s sons ISLAMABAD

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through multiple opportunities unleashed by CPEC. He urged the chambers to proactively persuade the business community across the country to capitalize on the business opportunities under CPEC adding that infrastructural improvement will encourage green-

rs4.89b earmarked for development schemes under ADp for Bahawalpur

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he accountability court hearing a National Accountability reference against Finance Minister Ishaq Dar pertaining to his assets beyond means has summed his sons. Dar, who is currently in London, is also likely to return to Pakistan on November 2 to appear before the court. The court on Monday had issued bailable arrest warrants for Dar after he failed to appear before the court in connection with a NAB reference pertaining to his assets beyond means.

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Rield industrial set-ups, with focus on value additive industries that will provide real platform for competitive trade in global economy.

The meeting was attended by presidents of all major Chambers of Commerce & Industry from across Pakistan including President Federation of

Pakistan Chamber of Commerce and Industry (FPCCI) Zubair Tufail. He said industrial cooperation will feature prominently in the agenda of 7th Joint Cooperation Committee (JCC) scheduled to be held here on November 21.

Mr Iqbal said that this meeting aimed at taking the chambers and business community on board in order to incorporate their viewpoint and ensure a broad consensus with respect to development of Special Economic Zones (SEZs) prior 7th JCC; informing that President FPCCI will be specially invited in the upcoming JCC to represent all chambers and business community. He further added that the task of government was to develop a policy framework while the development and investment in CPEC SEZs has to be done by private sector and local business community.

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BAHAWALPUR

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unds of Rs 4.12 billion have been approved for 76 ongoing development schemes while amount of Rs 676 million is also being allocated for 13 new projects under Annual Development Program 2017-18 in Bahawalpur Division.

This was told in a meeting held to review Annual Development Program 2017-18 at Commissioner OfRice Bahawalpur here. The meeting was presided over by Commissioner

Bahawalpur Divison Capt (retd) Saqib Zafar. The meeting was told that Rs 450 million have been earmarked for 14 on-going schemes of Higher Education Department while 3 new projects would also be started with cost of Rs 85 million.

About Special Education schemes, the meeting was briefed that Rs 85 million have been assigned for three projects that are underway. Five projects of Sports would cost Rs 102 million while Rs 205 million have been allocated for two schemes of Health Department. Amount of Rs 358 million have been earmarked for devel-

opment schemes of Jails. For Judiciary department, Rs 576 million have been approved for three ongoing schemes while Rs 53 million for 8 new schemes. Rs 442 million have been allocated for 13 ongoing schemes of Police department and Rs 34 million are earmarked for six new projects. An amount of Rs 1.51 billion has been allocated for 36 projects of Buildings Department.

Rs 92 million have been earmarked for three projects of Wildlife Department while Rs 248 million have been allocated for two schemes of Food Department.

‘NAB prosecutors being trained on modern lines’ ISLAMABAD

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hairman, National Accountability Bureau (NAB), Justice (Retd) Javed Iqbal sought USAID assistance in further improving capacity of investigators and prosecutors of Bureau on modern lines. The officers and prosecutors of NAB are being provided training, keeping in view of modern requirements and in this regard United Nations Office on Drugs and Crime (UNODC), National Crime Agency (NAC) of United Kingdom (UK) and Australian Federal Police are assisting the Bureau. He was talking to a delegation of USAID headed by its Inspector General, Ann Calvaresi Barr, which called on him here and discussed matters of mutual interest. Inspector General USAID thanked the NAB for providing assistance in Rafi Peer Theatre case.

The Chairman NAB was taking concrete steps against corruption and added the Bureau has already established its Forensic laboratory to conduct inquiries and investigations on scientific and modern lines. He said that white color crime, money laundering and mega corruption cases are being probed on merit and in a transparent manner.

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wApDA to add 2487 Mw to National grid from early to mid 2018 LAHORE

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ederal Minister for Water Resources Syed Javed Ali Shah Wednesday visited WAPDA House to have a brieRing about its projects in water and hydropower sectors. Welcoming the Federal Minister, WAPDA Chairman Lt. Gen Muzammil Hussain (Retd) said that WAPDA was fully focused on opti-

mal utilization of water and hydropower resources to meet the increasing requirements of water and electricity in the country.

By implementing a multi-pronged strategy for about last one year, WAPDA has been able to turnaround the situation. Delays in the way to completion of the projects have been overcome and now these projects are fast heading towards completion. The long-delayed Kachhi Canal Project (Phase-I) has been

completed in August 2017 to irrigate 72,000 acres of barren land in Dera Bugti district of Balochistan. WAPDA will add 2487 MW low-cost hydel electricity to the National Grid from early to mid 2018 with completion of three hydropower projects in a phased manner namely Neelum Jhelum, Tarbela 4th Extension and Golen Gol. Delayed for decades construction work on two mega multipurpose projects i.e. Diamer Basha Dam and Mohmand Dam will com-

mence in 2018. On completion, both projects will provide gross water storage capacity of more than 9 million acre feet (MAF) in addition to generating 5300 MW electricity. The Federal Minister appreciated WAPDA for its efforts to complete the longdelayed water and hydropower projects besides initiating construction work on a number of new projects.

He expressed the hope that WAPDA projects would be completed in accordance with the timelines to cope

with water and electricity needs.

Later in a brieRing, the Federal Minister was informed that WAPDA is implementing seven projects in water and hydropower sectors with cumulative generation capacity of 9294 MW and gross water storage of more than 8 MAF. As many as eight projects with power generation capacity of 16296 MW are ready for construction, while about a dozen projects are at the stage of feasibility study and detailed engineering design.

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UAE bans import of poultry products from Bulgaria DUBAI: UAE has banned poultry products from Bulgaria. UAE’s Ministry of Climate Change and Environment (MoCCAE) has prohibited the import of all types of live domestic and wild birds, ornamental birds, chicks, and hatching eggs and their thermally not treated products from Bulgaria. Based on a notification from the World Organisation for Animal Health about the registration of highly pathogenic avian influenza in the Republic of Bulgaria, the MOCCAE took the following actions: Prohibited the import of all kinds of live domestic and wild birds, ornamental birds, chicks, hatching eggs and their thermally untreated wastes from the Republic of Bulgaria. Prohibited the import of poultry meat and thermally untreated products and table eggs from the affected provinces, but allowed imports from disease-free areas, located at a radius of at least 25 kms from the affected farm that included an export health certificate.

uzbekistan keen to enhance trade relations with pak ISLAMABAD

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pak-tunisia to ink accord on preferential trade Agreement soon

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mbassador of Uzbekistan Furqat A. Sidiqov said that his country was keen to enhance trade relations with Pakistan as both countries have great potential to cooperate with each other in many areas including energy, agriculture, construction, mineral resources and others. He said this while talking to a delegation of Islamabad Chamber of Commerce and Industry that called on him led by President Sheikh Amir Waheed. Furqat A. Sidiqov said that Uzbekistan was a gateway for Pakistan to get access to over 300 million market of Central Asia. He said Uzbekistan was very much interested to have Pakistan’s pharmaceutical products that were quite competitive in terms of price and quality.

He said Uzbekistan has free trade agree-

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ments with CIS countries and Pakistani pharma industrialists should make direct investment or enter into joint ventures in Uzbekistan to penetrate Central Asian market. He identified agriculture, food processing, textiles, automobile, construction & building material, chemicals, oil & gas, mining, metallurgy, electrical & electronics and education as other potential areas of mutual cooperation between both countries. He said private sectors of both countries should form a joint business council that would help in promoting bilateral trade. He said that ICCI should form a sector-specific delegation for Uzbekistan and his Embassy would extend all possible cooperation to make its visit successful. Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that Uzbekistan was an energy rich country and it should cooperate with Pakistan in overcoming its energy problem.

Friday November 3, 2017

FAISALABAD

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akistan Tunisia Ministerial Conference will be held in Tunisia, during which Preferential Trade Agreement (PTA) is expected to be inked, disclosed Adel Al- Alarbi Ambassador of the Republic of Tunisia.

Addressing the members of the Faisalabad Chamber of Commerce and Industry (FCCI) here today, he said that long awaited PTA will give a quantum jump to bilateral trade between the two brotherly countries. He said that after the last successful 8th session of the joint ministerial commission, Tunisia and Pakistani Authorities are engaged in negotiation to Rinalize the modalities of this agreement.

He said that the existing bilateral commercial and economic activities are far below the potential of two countries and we must focus on diversification of basket of tradable goods. “Currently we are at the last step of PTA which will allow both countries to exchange list of tradable goods with a preferential

trade tariff”, he added.

He said that the Tunisian Parliament has also approved a new investment law to attract foreign investment. “This new code will give foreign investors more Rlexibility to transfer funds, including proRits, out of the country and remove taxes on proRits of major projects for at least ten years”, he said and added that a fund for investment has also been created which will help Rinancing of infrastructure projects and funding to encourage investors to launch big

projects in marginalized areas of the country. Earlier, in his address of welcome Shabbir Hussain Chawla President FCCI introduced Faisalabad and Faisalabad Chamber of Commerce and Industry and said that Pakistan’s exports to Tunisia were 23.022 million Dollars whereas the imports were 6.111 Million dollars in 2016. Hence, the balance of trade is in favor of Pakistan. He further said that major Items of exports to Tunisia are Cotton made staple Riber, Cereals and

kccI condole sad demise of Saudi cg KARACHI

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he leadership of Businessmen Group (BMG) & office bearers of the Karachi Chamber of Commerce & Industry (KCCI) have expressed deep grief and sorrow on sad demise of Mohammad Abdullah Abdul Daim, Consul General of Saudi Arabia in Karachi, who died of cardiac arrest.

In a statement issued, Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli, Vice Chairman BMG Tahir Khaliq, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Muffasar Atta Malik, Senior Vice President KCCI Abdul Basit Abdul Razzak, Vice President M. Rehan Hanif and KCCI Managing Committee Members, while expressing deep shock over the sad

and untimely demise of Saudi Diplomat, said that Mohammad Abdullah Abdul Daim will always be remembered for his commendable efforts to bring the business communities of the two brotherly countries more close to each other during his three-years long services in Karachi as Consul General. They prayed for the blessings and forgiveness to the departed soul and also prayed that may Almighty Allah endows courage to the friends and family members of Mohammad Abdullah Abdul Daim to bear this irreparable loss. Meanwhile, The leadership of Businessmen Group (BMG) & ofRice bearers of the Karachi Chamber of Commerce & Industry (KCCI) have expressed deep grief and sorrow on sad demise of Mohammad Abdullah Abdul Daim, Consul General of Saudi Arabia in Karachi, who died of cardiac arrest. In a statement issued, Chairman Businessmen Group

& Former President KCCI Siraj Kassam Teli, Vice Chairman BMG Tahir Khaliq, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Muffasar Atta Malik, Senior Vice President KCCI Abdul Basit Abdul Razzak, Vice President M. Rehan Hanif and KCCI Managing Committee Members, while expressing deep shock over the sad and untimely demise of Saudi Diplomat, said that Mohammad Abdullah Abdul Daim will always be remembered for his commendable efforts to bring the business communities of the two brotherly countries more close to each other during his three-years long services in Karachi as Consul General. They prayed for the blessings and forgiveness to the departed soul and also prayed that may Almighty Allah endows courage to the friends and family members of Mohammad Abdullah Abdul Daim to bear this irreparable loss.

Vehicles (Other than Railways) etc. while the major Items of Imports are Inorganic Chemicals, Organic or Inorganic precious metal and Plastic & articles thereof etc.

Continuing, he said that both Pakistan and Tunisia are members of Organization of Islamic Conference (OIC). The eighth session of Pak Tunisia joint Ministerial commission was held in Pakistan in 2012 and was crowned by the signing eight agreements and MoUs. Now there is a dire need to enhance bilateral trade between the two countries, he added.

Chawla said that China-Pakistan Economic Corridor (CPEC) is about to materialize which will provide new opportunities to the whole world for Foreign Direct Investments (FDI) in Pakistan. Hence, “One Belt–One Road” will be a breakthrough in the promotion of regional trade. He said that Pakistan is a blessed country having four seasons with five major rivers and large variety of crops. “The under completion and proposed industrial zones will provide excellent opportunities to invest in Pakistan”, he added.

ccrI demonstrates cotton picking by machine entral Cotton Research Institute (CCRI) conducted successful demonstration of mechanized picking of cotton from field. It was first time in country’s history that cotton was picked by a machine at the Institute. The machine was imported from Uzbekistan for on-going season of cotton. A three-member team from Uzbekistan also reached Multan to supervise the working of machine. CCRI Director Dr Zahid Mehmood informed that the machine could manage cotton picking from 10 to 12 acres in a day.

Similarly, the machine could help meet shortage of cotton-picker labourers as it could work equal to working 1,500 labourers. –CB Report

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Multan Customs seized Toyota Hilux Surf MULTAN: Customs Anti-Smuggling Organization has impounded foreign origin smuggled vehicle of worth Rs.1.5 million in their action.

According to details, Anti-Smuggling Organization squad received information that foreign origin smuggled vehicle will be transported through Multan to Faisalabad. Anti-Smuggling Organization formed special teams including Inspector Rana Mujtaba Noon, Inspector Abdul Samad, Muhammad Yousaf and others to prevent any attempt of smuggling from region.

Friday, November 3, 2017

CUSTOMS BULLETIN

gwadar customs impounds vehicles, goods worth rs 22 million GWADAR wAQAr AhMeD ANSArI www.customsbulletin.com

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he Customs Collectorate has impounded several nonduty paid luxury vehicles and a huge quantity of smuggled Iranian origin high speed diesel, non duty paid cameras, different electronics items, several bottles of wines, Indian silk, luxury vehicles chassis, plastic dana and others goods worth Rs 22 million during raids in different areas of Gwadar during the Rirst 26 days of October.

According to the details, on the directives of the Deputy Collector Gwadar Junaid Mehmood , operation against smuggled and non-duty paid luxury vehicles is going on in full swing and several raids have been conducted during these 26 days. Sources told Customs Today that deputy collector Gwadar constituted a team of Customs AntiSmuggling Organization (ASO) under the supervision of Customs Preventive Inspector Inayat Balouch. The team, during a search operation, intercepted a container registration no: KGS-5623 which was going out of the city.

During the raids, the customs team impounded electronics items

worth more than Rs 4.2 million, 50 LED TVs 42 inches,50 LED computer monitors, 12 thousand meters electric wires, kitchen electronics

accessories and more things.

The customs arrested two smugglers who are involved in smuggling and registered an FIR

against the accused persons and started investigations.

Earier Customs Collectorate Gwadar has impounded 12 kilo-

grams of hashish which was tactfully hidden in passenger seats worth Rs1.2 million and arrested three persons.

ANF needs resources to combat drug trafficking, Senate told ISLAMABAD

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inister for Narcotics Control Lt Gen® Salahuddin Tirmizi Monday told the Senate that the Anti-Narcotics Force (ANF) needed equipment and resources to combat the menace of drug smuggling.

Responding to points of public importance, he said cannabis pro-

duction had been destroyed in 92 kilometre area of the country. The ANF was facing shortage of staff, he added. Meanwhile, Minister for Law Zahid Hamid assured the house that the services of 1000 temporary employees of Census Department would be regularized very soon. The issue was raised by Senator Muhammad Usman Khan Kakar. Responding to another point of public importance, Zahid Hamid said the prime minister had suspended the charging of withholding tax from the people of GilgitBaltistan till the decision about the status of GB. He said the GB had no

representation in the parliament. A committee constituted by the prime minister to Rinalize sugges-

tions about legal status of GB, had already submitted its report, he added. Minister of State for Inte-

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

rior Talal Chaudhry said that no Turk national had been deported.

Turk nationals having valid visas were still residing in the country.

He said 394 Turk nationals were working in various schools in Pakistan. Their visas were expired in 2016. As many as 334 Turk Nationals sought asylum from the UNHCR on expiry of their visas. Some 122 Turk nationals had already left the country. Responding to another issue of public importance, Talal Chaudhry said FIA had been directed to avoid apprehending any political activitist on the pretext of committing cyber crimes.