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Daily

Vol 1 Issue No. 233

Karachi, Fri November 13, 2015

ISLAMABAD

SHAHID MINHAS

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he Model Customs Collectorate (MCC) Islamabad Preventive Division under supervision of Collector Zeba Hai seized Rs 29.9 million imported items during month of October 2015.

According to details, during the

course of anti-smuggling activities in October 2015. Customs Preventive Division has seized and recovered Rs 29.9 million imported goods, including four nonduty paid vehicles worth of Rs 4.5 million. At least 1,500 kilograms imported smuggled cloth worth of Rs 1.1 million, while 512 cartons of smuggled cigarettes worth Rs 2 million were also seized during the anti-smuggling

Price Rs. 14.00

drives.

Moreover customs preventive has recovered smuggled electronics and smuggled tea having worth of Rs 4.8 million collectively. Sources further told that Customs preventive has also recovered and seized other smuggled goods worth 17.5 million including, DVDs, mobiles, CD players, accessories, auto parts, tyres, pampers, during anti- smuggling raids as well.

Customs impounds contraband items, illegal vehicle worth Rs 14.5m

Customs chalks out plan to curb tradebased money laundering: DC Shahid

Dar offers to share expertise in Islamic finance to other countries

'Customs Preventive seizes goods worth Rs 358.199m in October’

FCCI chief lauds govt efforts to resolve energy crisis

Directorate of Customs Investigation (I and I) Lahore has intensified crackdowns | See pAge 02 |

DC at Benazir Bhutto International Airport Islamabad has said that exports | See pAge 03 |

Dar has said Pak is ready and willing to share the expertise that it has developed | See pAge 04 |

MCCPreventive,underthesupervisionofADC Khalid,seizedgoodsworthRs358.199m | See pAge 12 |

President FCCI Ch Nawaz lauded the efforts of present govet to transform | See pAge 09 |

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IHC disposes of petition filed against RTO officials Friday, November 13, 2015

National

ISLAMABAD: Justice Aamer Farooq of the Islamabad High Court (IHC) has disposed of two writ petitions filed against officers of the Regional Tax Office, Islamabad.

Select Beverages (Private) Limited filed the petition against assistant commissioner IR and others through its counsel Naeemul Haq. In another petition, deputy commissioner Inland Revenue, and others were made party

by Majeed Trading Corporation (Private) Limited.

Meanwhile, the court heard the arguments from both sides and received supporting documents.

customs seizes contraband items, impounds vehicle worth rs 14.5m

LAHORE

LAHORE

M HAYAt

M HAYAt

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akistan Businessmen and Intellectuals Forum (PBIF) has said that falling exports, six percent erosion in exchange rate and new taxes worth Rs 40 billion will break the back of the masses and business community.

New taxes are being imposed on behest of the IMF as exports fell by $1.25 billion in the first four months of the current fiscal year while FBR is held responsible for the fall in revenue which was result of unrealistic collection targets, it said.

The reduction in imports by 12.5 percent also resulted in reduction of revenue which should not be discounted, it said. the president of the PBIF, All Karachi Industrial Alliance (AKIA) and first vice chairman of the businessmen panel of the FPCCI Mian Zahid Hussain.

He said that export managers prefer politics over their responsibilities which damaged exports, revenue and external sector leaving government with no option but to slap new taxes. Delay in imposing new taxes on existing taxpayers can jeopardise 10th tranche of 502 million dollars of IMF loan worth 6.2 billion dollars, he added.

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irectorate of Customs Investigation and Intelligence (I and I) Lahore has intensiUied crackdowns on smugglers and seized contraband items and vehicles worth Rs 14.5 million in a number of recent anti-smuggling operations. According to details, the directorate of Lahore Customs on the information and directives of director Imran Saud has conducted various anti-smuggling raids and impounded smuggled cloth, soaps, tea, LEDs, plastic crush, and one BMW. Sources told Customs Today that Customs team intercepted a bus loaded with illegal imported items worth Rs 5 million.

Customs on credible information raided in Defense area and conUiscated Rs 6.5 million BMW from, a resident of Ghazi Road, who was using the vehicle on a fake number plate. Likewise, the anti-smuggling team seized illegal items worth Rs 3 million from Misri Shah.

Anti-smuggling raids were led by superintendent Nasir Minhas, Rauf Farooqi, RaUique Bhatti and supervised by Deputy director Saad Atta Rabani. OfUicial sources said that director Saud Imran has evolved a comprehensive and effective strategy to crackdown the smuggling activities in the Lahore and Faisalabad

rs 40b new taxes to break back of business community: pBIf

region. They added that the director has instructed all the ofUicers to work hard and bring the elements involved in the smuggling to the book. Meanwhile, Customs Investigation and Intelligence Lahore has

seized contraband goods and vehicles worth above Rs 90 million during Uirst quarter (July-September) of Uinancial year 2015-16, ofUicial data revealed to Customs Today.

According to the details, Cus-

toms Intelligence on the directives of Director Saud Imran conducted various operations and seized five vehicles worth Rs 7.40 million involving duty and taxes worth Rs 5.907 million.

global slowdown affects exports of all countries, says SM Muneer LAHORE

M IMrAN MeHAr

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hief Executive OfUicer of Trade Development Authority of Pakistan (TDAP) SM Muneer has said that a plan has been Uinalised to boost national exports which will be presented to the prime minister soon for approval.

The plan will help improve GDP, forex reserves and employment rate while reducing current account deficit which fell from $3.1 billion to $2.6 billion and continue to improve balance of payments, he said. Talking to a delegation of the leading exporters, SM Muneer who is also patron-in-chief of the United Business Group of the FPCCI, said that dozens of countries have seen exports falling due to recession in Europe.

Despite best efforts Chinese ex-

ports continue to fall for fourth straight month while Indian exports are falling since eleven months to 32 billion dollars, he said, adding that global exports of leather and leather products is down by 60 percent, carpet exports suffered a blow of 50 percent while different countries have witnessed slide in value added exports from 15 to 50 percent.

However, the external sector of Pakistan is performing well as compare to economic super pow-

ers where the exports fell by one billion dollars as compared to the propaganda of $4 billion fall.

The fall is not in the volume but reduced prices as low demand has flooded the international market, he added.

SM Muneer said that imports are also falling, Pakistani imports fell by 12.5 percent for which exporting countries cannot be blamed. The seasoned business leader said that he took charge of TDAP chief on the behest of Prime

Minister Nawaz Sharif on honorary basis without any salary or perks.

“I introduced reforms, initiated restructuring and brought level of corruption to zero in an institution where Rs31 billion corruption was recorded and 61 FIRs were registered against top officials including ministers,” he said.

He said that he has managed 118 expos in country and abroad while the expanses of main Karachi expo have been reduced from Rs 230 million to 35 million rupees.

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Action welcomed for de-freezing performance allowance MULTAN: The All Pakistan Federal Board of Revenue Employees Action Committee (APFBRAC) has welcomed the action taken by the Finance Minister for de-freezing the performance allowance of the Federal Board Revenue (FBR) employees and as a result the committee has decided to postpone its strike. The central leader of the action committee Tahir Khakwani said Finance Minister Ishaq Dar had asked for the detail of the expenditures of the frozen performance allowance from the chairman of FBR and the action committee welcomed this step. He said it seemed the ice had begun to melt and consequently the action committee had taken a decision to postpone its strike.

ANf foils bids to smuggle 1.45kg herion at Islamabad airport

Friday November 13, 2015

National

plan prepared to curb trade-based money laundering: Dc Shahid Jan

ISLAMABAD

SHAHID MINHAS

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he Anti-Narcotics Force (ANF) has foiled bids to smuggle drugs to foreign countries and recovered 1.45 kilograms of heroin while arrested two accused at Airport Islamabad. The ANF sources told Customs Today that the ANF team has recovered one kilograms of heroin from a passenger named Ghualm Abbas when he arrived at the ANF counter, sources said, adding that a Civil Aviation Officer was with him for protocol but when ANF team recovered the drugs the said officer disappeared from the spot. The arrested accused was going to Sharjah via flight no EY- 2553.

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faisalabad customs generates rs 516m taxes in october FAISALABAD

NAeeM SHeIkH

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he Model Customs Collectorate has collected Rs 516.51 million in wake of duty and taxes during October, 2015 while its target was Rs 685.4 million. As per details, Faisalabad Customs collected Rs 66.122 million under the head of customs duty against Rs 201.59 million target showing 33 percent achievement. In wake of sales tax, it has generated Rs 422.92 million against the target of Rs 452.2 million showing 94 percent achievement. Moreover, it has collected Rs 30.5 million under the head of income tax against Rs 14.43 million target showing exceptional performance, while it collected Rs 1.11 million as federal excise duty. Officials said that the collectorate has planned to send notices to tax defaulters in recent month to increase tax collection till December and to meet shortfall.

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ISLAMABAD

M fAIZAN

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he Pakistan Customs Deputy Collector at Benazir Bhutto International Airport Islamabad has said that exports were being used for tradebase money laundering through which millions of dollars are transacted to foreign countries.

Talking to Customs Today, Jan said that Federal Board of Revenue (FBR) has also been informed about the new technique of money laundering, adding that customs has made strategies to counter the new trends of money laundering.

He said that the customs officials are performing their duties at airports and export zones while officials at the international mail offices have been warned of stern action if they found involved in smuggling. The officials were also directed to treat the native and foreign passengers in a good way that will develop soft image of Pakistan as well the Pakistan Customs. Most of the common people who travel to other countries were not familiar with customs laws, Shahid Jan said, adding that officials have been urged to inform them politely about laws if any passenger was breached the law unconsciously.

He said that customs officials were required to perform their

duties honestly to curb the smuggling. “If I hear about the clearance of illegal cell phones’ consignments from airport or arrest of smugglers those will be cleared from Islamabad airport, at international airports, the duty officers will be suspended or dismissed,” he said.

In order to arrest the smuggling of narcotics, the department has tightened the checking of luggage and passengers at airport, he

Dc Jan said that federal Board of revenue (fBr) has also been informed about the new technique of money laundering, adding that customs has made strategies to counter the new trends of money laundering.

court sends gold smuggling suspect on remand LAHORE

IMrAN MeHAr

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pecial Court of Customs Taxation and Anti-Smuggling sent a suspect of gold smuggling on a 14-day judicial remand.

Earlier, the accused was on physical remand for interroga-

tion in the custody of the Pakistan Customs. As per details, Airport Security Force (ASF) recovered two and half kilogram gold from a passenger’s luggage at Lahore Airport. Passenger identified as Rai Umar, was onboard for Sharjah flight on a private airline. The clue of gold was found on search through scanning machine at Lahore airport on Saturday morning during last week. The ASF conducted the initial interrogation and handed

over the accused to Custom department for further investigation. The customs team presented the accused before Customs Court, where Special Judge ChaudHary Ameer Muhammad handed over him to Customs for interrogation. Now the Court has approved his judicial remand for further prosecution and judicial trial. It is necessary to mention here that worth of the gold is in millions in international market.

said. In order to arrest the smuggling of narcotics, the department has tightened the checking of luggage and passengers at airport, he said. The deputy collector has also urged the passengers to contact directly to customs for clearance of their seized items, instead of taking help of clearing agents. He said to serve the public was our basic duty and negligence in this regard by officials will not be tolerated.

fIA arrests human trafficker, recovers passports, ID cards he FIA has arrested a human trafficker and recovered a number of passports and National Identity Cards (CNICs) from him, Customs Today has learnt. According to the sources, the FIA team has arrested the human trafficker who was identified as Arman Shakoor during the raid at Hussain Chowk Lahore.—CB Report

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Gold imports up by 84% to $7.089m in Q1 Friday, November 13, 2015

Business

ISLAMABAD: The gold imports have surged by 83.89 per cent to $7.089 million during the first quarter (July-September) of ongoing fiscal year 201516 as compared to the imports of $3.855 million during the corresponding period of last year.In terms of quantity, the gold imports witnessed positive growth of 112.09 percent during the period under review. Overall 193 kilograms of gold were imported during the first quarter of the current fiscal year compared to the imports of 91 kilograms during last year, the data revealed.

kSe recoups losses, gains mammoth 361pts to reach 34295 KARACHI

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he Karachi Stock Exchange benchmark KSE-100 index Thursday surged by 1.06 per cent, by gaining 361.22 points to take the tally to 34295.26 points level at closing.

The market witnessed the highest trading level of 34306.75 points and lowest level of 33934.04 points, with the total volume of

uS dollar slips as Aussie lifted by jobs data

193,918,531 shares, having Rs10,996,217,180 value. As many as 358 companies were active; of which 263 advanced, 86 declined

Dar offers to share expertise in Islamic finance to other countries

TOKYO

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he dollar eased against most currencies in Asia early Thursday after surging at the start of the week, while a strong unemployment reading boosted the Australian dollar.

The Aussie surged more than one percent against the greenback, as government data showed the country´s October jobless rate fell to a better-than-expected 5.9 percent.

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and 9 remained unchanged.

Oil & gas marketing companies was the top traded sector with total volume of 22,792,600 shares, while

Technology & Communication was second with a total traded volume of 15,373,500 shares. The three top traded companies were Sui North Gas with a volume of 10,584,500 and price per share of 32.00 (0.19), Sui South Gas with a volume 9,922,000 of price per share of 40.70 (0.48), Jah.Sidd. Co. with a volume 9,606,500 of price per share of 21.33 (1.01). The top three advancers were Bata (Pak) XD with price per share 2999 (49) and 40 shares; Millat Tractors XD with price per share of 627.93 (29.90) and 100,150 shares; and Packages Ltd share of 626.15 (29.81) and 214,850.

KUWAIT

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inance Minister Senator Mohammad Ishaq Dar has said Pakistan is ready and willing to share the expertise that it has developed in Islamic Finance.

“Availability of skilled and well trained human resource is also a must for the development of the Islamic Uinance. Collaborative efforts

are needed between countries with developed Islamic Uinance systems and those which are in the initial phase of introducing these systems”, the minister emphasised.

Senator Ishaq Dar made the offer at the high level Global Conference on Islamic Finance in Kuwait on Wednesday. The minister participated in a panel discussion along with Anas Al Saleh, Deputy Prime Minister and Minister of Finance of Kuwait, Dr. Fahad Abdullah AlMubarak, Governor Saudi Arabian Monetary Agency (SAMA), Dr Erdem Basci, Governor Central Bank of

Turkey, Dr. Ahmad Mohammad Ali Al-Madani, President Islamic Development Bank (IDB) and Masood Ahmad Director Middle East and Central Asia Department of International Monetary Fund (IMF).

The minister said: “Many developing and Muslim majority countries are faced with the challenge of low Uinancial access with signiUicant proportion of their population remaining unbanked due to voluntary and involuntary reasons. SpeciUically in Muslim majority countries, it is highly likely that a signiUicant proportion of their population.

BD ban on raw jute export puts pak mills in trouble LAHORE

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he Bangladesh Ministry of Jute and Textiles has banned the export of raw jute for a month effective from Nov 3, 2015 while all unshipped export contracts are affected by this sudden decision. Since Pakistani jute mills are solely dependent on imported raw material from Bangladesh it will be catastrophic for the mills as well as federal and provincial governments which require jute products for safe storage of agricultural products. “The jute sector in Pakistan is already under tremendous pressure due to the challenges it is facing like lower demand than capacity and stiff competition from woven polypropylene and other health hazardous packaging material which are used in large quantity in Pakistan,” said Secretary General, Pakistan Jute Mills Association (PJMA) Muhammad Younus. Moreover, he added, Government of Bangladesh has violated international norms both on legal and moral grounds as the shipments have already been paid for through TT & LC’s at sight which have been affected due to this sudden ban. ‘This export ban by Bangladesh without forewarning will result in a serious crisis for the local jute industry if not lifted immediately.

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pakistan on its way to growth recovery: world Bank report ISLAMABAD

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akistan's Gross Domestic Product (GDP) growth would accelerate to 4.5% in the current Uiscal year and to 4.8% in Financial Year 2016/17, supported by strong services growth and improvement in the industry sector, says World Bank's new report, "Pakistan Development Update",

launched at the Quaid-e-Azam University. The report discusses the important improvements of the external sector in Pakistan over the past few years. The foreign exchange reserves have increased from precariously low levels to appropriate level, given the size of Pakistan's imports. The current account deUicit narrowed to $2.6 billion in FY14/15 compared to $3.1 billion in the previous year, a result of record high remittances in the order of $18.7

billion. External Uinancial inUlows continued strong, although lower than in the previous year. As a result, the balance of payments was positive for the second year in a row. "There is an improvement in Pakistan's overall economic environment. With macroeconomic stability largely restored, Pakistan can focus now on boosting development outcomes, which are not where one would expect, given the country's income level," says World

Bank Country Director for Pakistan Patchamuthu Illangovan. He said to improve the country's competitiveness, it is extremely important that the next phase of reforms is implemented and that Pakistan increases both public and private investment levels, which are among the lowest in the world. Several factors are contributing to low investment levels. Constrained Uiscal space limits the government's ability to make the necessary complementary pub-

lic investments. A weak investment climate also affects private investment negatively. Another reason for the very low investment levels has to do with the low domestic savings rate in Pakistan at below 10% of GDP, which compares unfavourably with an average of around 25% in South Asia. Limited access to financial markets, high dependency ratio and low returns on financial instruments all contribute to this low rate of savings.

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Friday, November 13, 2015

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he Model Customs Collectorate (MCC) Sialkot has issued Rs 275 million rebate to traders who exported Uinished goods during the month of October in Uiscal year 2014-15.

Sources said that the collectorate gave rebate to the textile sector on cotton garments. The leather sector was given rebate on Uinished leather garments, hides, leather shoes and artiUicial leather. The sources said that surgical goods, cutlery, rubber goods, plastic goods and shoes other than leather and their parts were offered for the rebate. The government offered the rebate scheme to enhance export volume and earn foreign exchange. The sources also said that the rebate cheques have been distributed among most of the importers while the process is still on and the remaining importers will also be able to receive their share of rebate on their imported raw material. According to SRO

211(I)/2009, authorized repayment of customs duty to certain extent paid on the import of raw material used in the production or manufacture of goods that are exported. The goods must be exported out of Pakistan and an application for repayment of customs duty is presented to the ofUicer concerned within 210 days of export or within 180 days from the date of realisation of foreign exchange as shown on bank credit advice issued in accordance with the current directives of the State Bank of Pakistan. And the exporter makes a declaration on the goods declaration Uiled under Section 131 of Customs Act 1969 and on other export documents for his claim for repayment of the customs duties paid on the imported raw materials used in the production or manufacture of the goods being exported.

Meanwhile, The Model Customs Collectorate has handled exports worth Rs 11.1 billion during October 2015, showing an increase of 15.6 percent as compared to the exports during the same period of the last Uiscal year 2014. The total export during the period in question was Rs 9.6 billion. Leather and leather items, sports goods, surgical instruments and other items were exported through the Sialkot Customs. OfUicials said that such growth in export has been observed due to smooth provision of export-related facilities and rapid clearance of export consignments.

have been s e u q e h c e t reba ng most of o m a d e t u ib distr while the , s r e t r o p im the orters will p im g in in a rem to receive le b a e b o ls a rebate on f o e r a h s ir e th ed raw their importsoon material

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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

thar coal project

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he Sindh government successfully generated one megawatt of electricity from the Thar Coal Power Plant in May this year through an underground coal gasification process thanks to the best efforts of Dr Samar Mubarakmand.

Dr Mubarakmand had tried to develop a scientific process to tap vast coal reserves, but he was discouraged on occasions by the red-tape to leave the job. To highlight the hurdles, the world renowned scientist once said that the pen which is authorized to approve funds for the project does not move until it gets the ink of money.

Now the Ministry of Finance has approved a draft to pave the way for foreign currency loans for the Thar Coal Mining Project.

The federal government also wants to give legal cover to the loans for the project, which is a part of China Pakistan Economic Corridor (CPEC).

According to newspaper reports, the money will be provided by a consortium of top Chinese banks, including China Development Bank. The ministry has also given a go-ahead signal to the Sindh Engro Coal Mining Company to obtain local currency loan for the Thar Coal Mining Project.

According to reports, the federal government will also issue sovereign guarantees for the project by a provision of backup guarantee by the Sindh government while Engro Powergen Thar Limited is constructing a power plant, spending around Rs 4 billion to start work before the financial close. The development of mine will hopefully produce around four million tons per annum coal and the power project will produce 660 megawatt in Thar. Both the projects will cost around $2 billion. Another news report says that 180 billion tons coal reserves were discovered in Tharparkar district in the early 1990s, but could not be exploited due to lack of interest of the successive governments in the country. However, now a consortium of local banks has pledged Rs 50 billion to harness the untapped natural resources in Sindh. Once the two projects are completed, it is hoped that not only the quality of life of the local people will improve, the country will also overcome energy crisis to some extent. The most important factors hindering the implementation of the promising projects are red-tape as well as corruption.

Billions of rupees are syphoned off the development schemes, leaving the nation in lurch as the benefit of progress seldom reach common man. It is hoped that the present government, without going into political consideration, will consult Dr Mubarakmand and try to develop indigenous technology.

tax reforms need of the hour A

LAHORE

Dr AftAB AfZAL

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ccording to newspaper reports, the country could not meet the tax collection target allegedly set by the International Monetary Fund as the tax authority is facing a shortfall of Rs 40 billion tax in the Uirst quarter of the current Uiscal year.

The compliance of the IMF conditionalities is one thing but collection and payment of tax as a national duty is something else which has its own parameters.

The prevailing tax system is almost obsolete and needs structural reforms. Finance Minister Ishaq Dar has acknowledged the need for introducing reforms in

the system after he was briefed that the Federal Board of Revenue faces Rs 40 billion shortfalls in tax collection. Now the government is considering levying tax on luxury commodities used by rich to save poor and middle classes from additional taxes.

According to the minister, negotiations between Pakistan and IMF for the 9th tranche review under Extended Facility Fund have been completed while Pakistan will also receive a $500 million tranche from the World Bank this month.

The government had increased the development budget from Rs 316 billion to Rs 700 billion during the current Uinancial year and it has to meet the targets to avoid cut in development funds. Dar

claimed the credit of the economic stability in Uirst two years of the Pakistan Muslim League-Nawaz government. The country’s foreign exchange reserves have been increased, a signiUicant progress is made in energy sector and the world donor agencies have acknowledged the progress made in various other sectors. The government has achieved GDP growth rate of 4.5 percent and is likely to increase it to 5.5 percent during the current Uiscal year. Dar also revealed that the government obtained the IMF to clear the old loans. The country received $4.6 billion and returned $ 4.7 billion, leaving the people to guess the jugglery of words and Uigures. The only way to achieve economic stability and prosperity is to focus on

tax reforms for which the government seems not in a hurry. The government had initiated various power generation projects to overcome shortage of electricity but energy crisis still persist. The direct and indirect taxes as well as the federal and provincial taxes have severely affected the quality of life of the middle classes. The government has a majority in the National Assembly and nobody can stop it from the packages of legislation to overhaul the Uinancial, energy and social sectors. Dar also accepts that circular debt has increased due to lack of energy reforms, but question is who is stopping the government from introducing reforms at the Uirst place?

It is time to leave petty politics to do something real.

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Sotheby’s revenue rises 46% to $137.9m in Q3 NEW YORK: Sotheby’s revenue increased 46 percent to $137.9 million year on year in the third quarter that ended September 30. The net loss was cut 35 percent to $17.9 million, or 0.26 per diluted share, the auctioneer said in a statement. The company also said net auction sales increased 15 percent because of a change on its events calendar. Auction commission revenues decreased, largely due to significantly weaker sales in higher-margin categories, including jewelry. Revenue for the nine months to September increased 7 percent to $625.7 million, while net profit increased 24 percent to $54.7 million. President and chief executive officer Tad Smith said in the statement: “We are proud of our auction sale results in the categories of impressionist, modern and contemporary art, which are on track to achieve record levels for the year. In just three days last week, our auctions achieved $780 million, led by the first two sales from the collection of Sotheby’s former chairman, Alfred Taubman.

LccI, punjab planning Department join hands to promote trade he Lahore Chamber of Commerce and Industry and Planning and Development Department (P&D) Punjab would work together to ensure ease in doing business in Punjab.

This was agreed at a meeting at the Lahore Chamber of Commerce and Industry between the LCCI senior vice president Almas Hyder and 10member government’s team led by Chairman Planning and Develop-

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ment Department of Punjab Sqn. Leader Irfan Elahi. The LCCI vice president Nasir Saeed was also present on the occasion. On the occasion, a number of issues including LDA and company formation came under discussion.

All the participants were of the view that public-private partnership is a must to ensure maximum ease in doing business in Punjab. They said that all the hitches delaying execution of new business ventures would be removed through joint efforts.

Chairman Planning and Development Sqn. Leader Irfan Elahi said that collaboration between the P and D and LCCI would go a long way and supplement Punjab government efforts in uplifting of all development sectors of Punjab Province.

He said that the Planning and Development Department of Punjab, is the principal planning organization at the provincial level. It coordinates and monitors development programs and activities of various departments of the provincial government. He said that the department also prepares an overall Medium Term Development Framework (MTDF) of developmental activities in the province. —CB Report

Friday November 13, 2015

Chambers

fccI chief lauds govt efforts to resolve energy crisis P

FAISALABAD

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resident Faisalabad Chamber of Commerce and Industry (FCCI) Chaudhary Muhammad Nawaz lauded the efforts of present government to transform energy starved Pakistan into energy surplus country just within a period of two to three years.

He appreciated the ground breaking ceremony of 1223 MW power project at Balloki by Prime Minister Nawaz Sharif and said that government accepted the challenge to fulUill the energy needs with a focused approach to generate cheap and affordable electricity.

He said that government has shown its sincerity by bringing down the construction cost of various projects which also speaks high of the kickbacks enjoyed by the previous rulers.

He said that in Faisalabad industrial sector is running with only 50 to 60 percent of its installed capacity only due to the shortage of energy and high cost of doing business. He hoped this new project will not only add sufUicient electricity to

the national grid but also bring down its cost which will help industrial sector to trim down its production cost. He hoped that Pakistan will become fastest growing country of the world only if the energy needs are ensured with adequate and sustained supply of electricity at affordable prices.

He said that if the industries can work round the clock if were pro-

vided energy in according to their needs. “ It will not only help Pakistan to enhance its exports but also create new job opportunities without any additional expenditure on the infrastructure development”, he added. Meanwhile Chaudhary Muhammad Nawaz has congratulated Sardar Ayaz Sadiq on his reelection as Speaker National Assembly. He said that Sardar Ayaz

ICCI, Belarus Chamber sign MoU to promote trade

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ISLAMABAD

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he Islamabad Chamber of Commerce and Industry signed a Memorandum of Understanding with the Minsk Department of the Belarusian Chamber of Commerce and Industry to promote bilateral trade and mutually advantageous commercial and industrial ties between Pakistan and Belarus.

Atif Ikram Sheikh, president, Islamabad Chamber of Commerce and Industry and Mikhail Miatlikov, Director General, Minsk Department of Belarusian Chamber of Commerce and Industry signed the MoU in the presence of Muhammad Nawaz Sharif, Prime Minister of Pakistan and Andrei Kobyakov, Prime Minister of Belarus at PM OfUice.

The MoU was aimed at establishing a general cooperation frame-

work between the two trade bodies to promote trade, joint ventures, investment, technical cooperation and economic relations between Belarus and Pakistan. Both sides resolved to cooperate with Belarus-Pakistan Business Council for fostering friendship and understanding between the business communities of Pakistan and Belarus.

Both sides agreed to facilitate the cooperation between the Belarusian and Pakistani SMEs and encourage entrepreneurs of their respective countries to participate in each other country’s exhibitions for exploring business prospects. Both sides vowed to contribute actively in strengthening the research and development activities for industries in both countries.

After signing the MoU, Atif Ikram Sheikh, president, Islamabad Chamber of Commerce and Industry said that Pakistan and Belarus

has tremendous potential to enhance cooperation in many fields including agriculture, automobiles, industrial development and technology transfer. He was optimistic that the MoU will help in promoting business linkages between the private sectors of both countries and exploring all untapped areas of mutual collaboration.

Mikhail Miatlikov, Director General, Minsk Department of Belarusian Chamber of Commerce and Industry said that being an industrialized country, Belarus has a lot to offer to Pakistan. He said the signing of MoU between the Capital Chambers of two countries was a highly positive development as it would be helpful in starting a new era of cooperation between the business communities and further enhancing bilateral trade and economic relations between Pakistan and Belarus.

Sadiq has actually made history by electing form the same assembly for the second time. He said that he bagged 268 votes which speak high of his impartiality to conduct the parliamentary affairs of the legislative assembly. He hoped that Sardar Ayaz Sadiq will discharge his ofUicial responsibilities with complete fairness as enshrined in the constitution of Pakistan.

More than rs 174b released for development projects he federal government has released more than Rs174.096 billion for different developmental projects under Public Sector Development Programme (PSDP) 2015-16 as against the total allocation of Rs700 billion. According to latest data released by the Planning Commission of Pakistan, the government has released Rs 18.691 billion for Higher Education Commission as compared to the total allocation of Rs 31.100 billion for the year 2015-16.

Under development programme, Rs 14.117 billion has released for infrastructure development projects under National Highway Authority (NHA) as compared to the total allocation of Rs. 159 billion for FY 2015-16.—CB Report

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US Customs seizes $16,791 counterfeit soccer club apparel Friday November 13, 2015

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STERLING: US Customs and Border Protection (CBP) scored big against trademark theft after seizing 5,383 pieces of counterfeit soccer apparel near Washington Dulles International Airport. The haul included jersey tops and shorts that violated the intellectual property rights (IPR) of many well-known European “football” clubs, such as Arsenal, Barcelona, Manchester United, and Real Madrid. If genuine, the soccer apparel would have an estimated manufacturer’s suggested retail price (MSRP) of $16,791. “Soccer is one of the most popular sports around the world, and these clubs possess valuable intellectual property rights. It’s no surprise that some people will do anything to capitalize on the sport’s popularity, even if that includes resorting to theft of a trademark holder’s rights and revenues,” said Wayne Biondi, CBP Port Director for the Port of Washington Dulles.

Indonesia customs foils attempt Lebanon Customs arrests Saudi prince with 2 tonnes of drugs to smuggle raw mineral A RIYADH

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JAKARTA

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he government has foiled smuggling attempt of raw minerals and TPT (textiles and textile products) in the last three months, helping the state avoid potential losses of Rp 77.1 billion (US$ 5.65 million).

Finance Minister Bambang Brodjonegoro said cooperation between ministries and agencies was forged in response to an instruction by the President to combat smuggling and protect local industries.

“Potential losses of Rp 3.3 billion came from unpaid import duty on textiles and a further Rp 73.8 billion from illegal raw mineral exports. If they had managed to pass through, the local textile industry would have been affected and raw mineral downstream projects would have been disrupted,” said Bambang at a press conference on Monday.

ukraine customs appoints new foreigner chief

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he State Fiscal Service of Ukraine may get a new chief, a foreigner, a wellinformed source in the cabinet told Interfax-Ukrayina Nov. 6.

“The situation in the customs requires urgent measures,” he said.

The job is presently vacant following the dismissal in late September its then head who had got involved in a lengthy conUlict with his deputy.

Earlier, Premier Yatseniuk said the running of the customs is to be entrusted to foreign companies to deal with ramp[ant corruption and raise the revenue.

According to State Fiscal Service head Roman Nasirov, western companies Crown Agents and Adam Smith have shown an interest to run Ukraine’s customs.—CB Report

He further explained that the customs and excise ofUice found four containers of textiles and textile products imported from China by PT KHYI. The company allegedly violated customs regulations by unloading the goods while under customs supervision and falsifying documents.

The ofUice also found 80 containers containing raw minerals from West Java, East Java, Maluku and Sulawesi ready to be shipped overseas,

such as to the Netherlands, Taiwan, Korea, Hong Kong, India, Singapore and Thailand.

“The illegal exports and imports were thwarted by the customs ofUicers and the police at Tanjung Priok Port, North Jakarta,” Bambang said.

According to customs and excise director general Heru Pambudi, the attempted smuggling of raw minerals involved 21 exporters and was the biggest case of its kind in the last three months.

uS customs seizes marijuana worth $253k at port of Douglas

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ustoms and Border Protection ofUicers arrested two people in separate incidents the Raul Hector Castro (RHC) Port of Douglas, and seized just more than 506 pounds of marijuana.CBP ofUicers at the Port of Douglas removed 252 packages of marijuana from a smuggling vehicle OfUicers arrested Yaneli Denisse Valencia-Gallardo, 32, of Agua Prieta, Sonora, Mexico, after Uinding more

than 274 pounds of marijuana, worth more than $137,000, hidden throughout her Ford SUV. OfUicers also arrested Thomas A. Reade, 26, of McNeal, Arizona, after a CBP narcotics-detection canine alerted to the presence of drugs within McNeal’s Suzuki SUV. OfUicers found more than 232 pounds of marijuana, worth an estimated $116,000, concealed within the vehicle’s engine compartment and tires. —CB Report

Saudi prince and four others have been arrested after Beirut authorities foiled one of the country’s largest drug smuggling attempts, seizing two tons of amphetamine Captagon pills and cocaine before they were loaded onto the prince’s private plane.

Prince Abdel Mohsen Bin Walid Bin Abdulaziz and the other Saudi citizens will be questioned by Lebanon’s customs authority.

Captagon is the brand name for the amphetamine phenethylline, a synthetic stimulant.

Captagon manufacturing thrives in Lebanon and war-torn Syria, which have become a gateway for the drug to the Middle East, partic-

ularly the Gulf. The U.N. OfUice of Drugs and Crime said in a 2014 report that the amphetamine market is on the rise in the Middle East, with busts mostly in Saudi Arabia, Jordan and Syria accounting for more than 55 percent of amphetamines seized worldwide.

The stimulants produce “a kind of euphoria — you’re talkative, you don’t sleep, you don’t eat, you’re energetic,” Lebanese psychiatrist Ramzi Haddad told. The arrest is the latest in a series of run-ins between Saudi Arabia’s royal family and worldwide authorities.

Last month, a Saudi prince was arrested in Los Angeles for allegedly trying to force a woman to perform oral sex on him at a Beverly Hills mansion. But authorities decided not to pursue the charge, citing a lack of evidence.

china improving customs, border trade services with Vietnam

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s China enjoys booming business with Vietnam, the government is working on improving services to enhance border trade. He Weiwei went to a border trade zone in Dongxing city, in Guangxi Zhuang Autonomous Region, to see what services are being offered.

This is the Dongxing border trade zone, located near the Beilun River separating China and Vietnam. Boats are busy carrying products between the two sides. Standing on the bank of the Beilun River, you can see Vietnam on the other side. This border trade zone was established in 2009, and since then it has becomes an efUicient and convenient trading center for Chinese and Vietnamese busi-

nesses. A variety of goods are being traded here every day, from agricultural products and sea food, to all kinds of daily necessities.

China exempts tariffs on goods worth less than 8000 yuan per person, per day in the zone. At present, over 30 thousand border residentsare doing business here. Local authorities are working on facilitating customs services.

"Since June, we've started to operate a new Customs information management system, to enable businesspeople to declare their goods online, which greatly shortens the border trade clearance time," Jiang Biao, deparment director of Dongxing Border Trade Administration, said.—CB Report

govt to impose $100m customs duty on LNg project at kitimat

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OTTAWA

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Calgary-based energy company expects to Uind out this month if it will be successful in appealing a decision by the federal government to impose a $100 million customs duty on a planned liqueUied natural gas (LNG) project at

Kitimat.

The appeal was Uiled by AltaGas, a Canadian partner in the Douglas Channel LNG project which would feature a LNG plant afUixed to a Uloating platform to be built in Asia and ferried to Kitimat.

Because the federal Canada Border Services Agency is classifying the platform as a ship, it's subjecting the barge-shaped platform to a 25 per

cent duty fee.

AltaGas vice president John Lowe, in speaking to analysts during a conference call held to discuss the company's latest earnings, said it takes the opposite view.

“The Uloating unit is incapable of navigation, it has no self-propulsion and it's going to be moored permanently,” he said.

And the equipment on the plat-

form should not be subject to any duty which is the case for all equipment that liqueUies air or gases, Lowe said. AltaGas and other members of the Douglas Channel consortium have been working toward a Uinal investment decision on the $600 million project by the end of the year and an appeal of the $100 million duty fee is necessary to make that decision, said Lowe.

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Ukraine Azov ports count on grain handling KIEV: In the context of reduction of metallurgical cargo traffic flow, Ukrainian ports in the Azov region count on grain handling. At the same time rates of grain handling in Berdiansk and Mariupol have reached their specified capacity. Further development of grain handling in the Azov ports is restrained by absence of modern grain handling facilities. For this reason, at the conference “New projects of grain and oilseeds terminals” the representatives of Berdiansk and Mariupol ports suggested their projects for the construction of specialized grain processing complexes. During 2012-2014 grain handling in the port of Berdiansk increased by more than 200%, in Mariupol – by almost 15%.

Minority shareholders may hold key to Cosco-China Shipping merger HONG KONG

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inority shareholders not controlled

by Beijing may be the biggest problem faced by state attempts to merge Cosco and China Shipping, believes investment equity firm Jefferies.

“There is a very high risk that the plans are not able to be executed due to minority’s objection,” Jefferies said in a note to customers.

The bank said that while statecontrolled, the groups have major non-state minority shareholders and any connected transaction, such as a major reorganization, would require their approval. The minority investors that are not controlled by Beijing hold about 45 percent of Cosco, 53 of CSCL and 59 of China Shipping Development.

“Majority approval of these minority shareholders is required to pass any motions for connected transaction, which can be challenging since the company has little influence over these minority investors’ decision and the motions may involve seven different groups of shareholders for the 7 listed entities within these two shipping groups.”

Trading in the shares of seven companies under the Cosco-China Shipping umbrella remain suspended as the mainland’s two largest shipping entities continue to discuss a “material event” widely expected to be a merger.

The Hong Kong and Shanghai shares of China Shipping Development, China Cosco Holdings, Cosco Pacific, China Shipping Container Lines, among others, were suspended in early August and three months later there is no indication of when trading will resume.

However, the sheer scale and complexity of both state-owned giants will make any merger a difficult, if not impossible task. This was highlighted in a note to customers by investment bank Jefferies, which said the groups had two options: Consolidation under one listed platform, or a series of asset swaps to create multiple listed entities each with a focused business line. Neither format looks attractive. “The former could be simpler but too pricey for the parent while the latter may be too complicated to be executed,” Jefferies noted.

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Ports & Shipping

Friday November 13, 2015

November forecast rotterdam, Valencia, port de to be a strong month for uS ports commerce, piombino receive R high environmental recognition MEXICO

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uring its General Assembly in Brussels on Tuesday, ESPO was delighted to congratulate the ports of Rotterdam (The Netherlands), Valencia (Spain), Port de commerce de Lorient (France) and Piombino (Italy) for having recently achieved the Port Environmental Review System (PERS) certiUication.

ESPO Chairman Santiago GarciaMilà presented the PERS certiUicates to the port representatives that were attending the meeting, Mr Ramon Gómez-Ferrer (Port of Valencia) and Victor Schoenmakers (Port of Rotterdam).

Both Valencia and Rotterdam are long-standing supporters of the EcoPorts approach and involved in the development of the EcoPorts tools since the very beginning.

The Port of Valencia gets awarded with PERS for the fourth time (2003, 2006, 2013, and 2015), whilst the Port of Rotterdam gets PERS certified for a second time after its initial certifica-

tion in 2008. The Port de commerce de Lorient achieves PERS certification for the first time and ESPO welcomes it to the distinguished PERS holders’ network.

Furthermore, the Italian port of Piombino get re-certified after its initial PERS implementation and certification in 2012.

ESPO is delighted to congratulate

all four ports for this signiUicant achievement.

“We are delighted with the increased interest shown to PERS by European port authorities and we encourage all ports within our membership to implement the scheme and receive a certiUication”, said ESPO Secretary General, Isabelle Ryckbost.

etailers anticipate a jolly November for US ports, with the National Retail Federation predicting that containerized imports will increase 8.3 percent over November 2014. Furthermore, last-minute importers of holiday merchandise should experience little if any port congestion. “Conditions aren’t perfect, but the ports are running reasonably well,” said Jonathan Gold, vice president for supply chain and customs policy at the NRF. “That’s a dramatic difference from this time last year, when the West Coast ports were experiencing slowdowns and congestion from labor negotiations,” said Jonathan Gold, NRF’s vice president for supply chain and customs policy. The NRF and Hackett Associates on Tuesday released its monthly Global Port Tracker, which tracks containerized imports at all major U.S. gateways. November 2014 was one of the slowest months of the year on the West Coast, with containerized imports 12 percent lower than in the previous month, according to container volume numbers posted on the website of Pacific Maritime Association.

Therefore, November’s projection is benchmarked off of a weak November 2014, at least on the West Coast. Retailers last year shipped their holiday merchandise earlier than usual due to the prolonged labor negotiations on the West Coast. “Retailers had instituted costly contingency plans, but were still worried about whether merchandise would be unloaded in time for holidays,” Gold said. —CB Report

costa cruises commits to Savona’s cruise sector growth

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SAVONA

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osta Cruises signed a three-year memorandum of understanding on Tuesday with the Municipality of Savona and the Port Authority of Savona for sustainable development in the cruise sector in Savona.

The agreement calls for joint interventions in various areas to guarantee responsible growth of the cruise industry in Savona that, which recorded more than 1 million passengers, in 2014, according to CLIA. “This important document emphasises the signers’ commitment to work on an array of strategic themes ranging from respect for the environ-

ment to promotion and enhancement of our city and its cruise vocation through shared actions and instruments,” said Federico Berruti, Mayor of Savona.

“Thanks to close cooperation between Costa, the Municipality and the

Port Authority, Savona will become a long-term reference for sustainable development in the cruise sector, thereby creating economic, social and environmental value for the area ,” added Neil Palomba, President of Costa Cruises. “In recent years we

have made major investments in Savona, such as the construction of the Palacrociere’s second terminal, and we would like to continue to grow together with the city in a responsible manner.”

“The signing of this memorandum of understanding formalises a series of mutual commitments by the signers with the clear objective of continuing to improve and, if possible, implement what was built from 1996 to the present: this includes important infrastructures and a high-level service model for cruise passengers and ships, creating numerous jobs that on peak days will reach a total of 200,” pointed out the President of the Port Authority of Savona, Gian Luigi Miazza.

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Gwadar Customs seizes Iranian diesel worth Rs 2.5m KARACHI: Directorate of Customs Intelligence and Investigation (I and I) has seized 25,000 liters of Iranian diesel worth Rs 2.5 million during a raid in Gwadar, Customs Today has learnt.

According to the sources, after receiving credible information about smuggling of Iranian diesel near Punjgore area, a Customs team intercepted a tanker and confiscated 25,000 liters diesel.

The Customs has seized oil tanker and arrested driver and his companion.

Friday, November 13, 2015

CUSTOMS BULLETIN

customs preventive seizes goods worth rs 358.199m in oct: ADc khalid Jamali KARACHI AftAB cHANNA

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he staff of the Model Customs Collectorate Preventive, under the supervision of Additional Collector Khalid Hussain Jamali, seized goods worth Rs 358.199 million in just one month of October 2015.

During an exclusive interview with Customs Today, Additional Collector MCC Preventive Khalid Hussain Jamali said the MCC Collectorate seized a number of noncustom paid goods or smuggled items worth more than Rs 358.199 million.

The customs staff posted at Jinnah Terminal Complex Arrivals seized 279 bottles of alcohol and 94 cans of beers worth Rs 2.8 million, cellular phones worth Rs 7.5 million, smuggled medicines worth Rs 5.2 million and play station worth Rs 72,100.

And, the Anti-Smuggling Organization ASO also recovered some 8 vehicles worth Rs 24,100,000. Besides, 1056 kilograms of auto parts worth Rs 658,944, 114172 liters Iranian diesel worth Rs 9,464,104, 636, LED television worth Rs

15,357,400, 54665 yards of foreign cloths worth Rs 5,248,620, one container with smuggled goods worth Rs 1,000,000, 54 blankets worth Rs

51,667, 2052 shampoo worth Rs 16,079,400, carpet, rugs four pieces worth Rs 40,000 and miscellaneous goods worth Rs 36,408,959.

Moreover, the staff of Anti-Smuggling Organization (ASO) also detected the largest single seizure of high end merchandize in the history

of Pakistan Customs. The seized goods worth Rs 304 million in the recent days, additional collector concluded

pakistan gives 280 acres in gwadar to china for economic zone SIALKOT

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akistan has handed over 280 hectares of a 923-hectar (2,300-acre) tax-exempt land in Gwadar to China under 43-year lease for development of a special economic zone there.

The development is part of the China-Pakistan Economic Corridor, an ambitious $46 billion investment plan linking western China to

the Arabian Sea, part of Beijing’s ambition to expand its trade and transport footprint across Central and South Asia while countering US and Indian inUluence.

Experts say access to the port of Gwadar will cut thousands of kilometres off the distance which oil and gas imports from Africa and the Middle East have to travel to reach China.

Federal Minister for Planning Ahsan Iqbal and Minister for Shipping Kamran Michael attended the handover ceremony with China’s National Development and Reforms Commission (NDRC) Vice

Chairman Wang Xiaotao As part of the wider plans, an international airport will also be built with a Chinese grant at Gwadar, with construction due to begin in January.

“China has asked us to provide land for building an export processing zone and a modern international airport in Gwadar,” Balochistan Chief Minister Abdul Malik Baloch told AFP. The airport which will take 30 months to complete will be Pakistan’s biggest airport. According to Balochistan chief minister’s spokesman Jan Muhammad

Buledi, the airport will be built on more than 4,000 acres.

China is also building a road network to link the zone to the airport and a seaport, and the provincial government will provide the land according to their requirements, he said.

As part of the wider plans, work on the Gwadar International Airport would start in the next couple of months.

Gwadar port, located 540 kilometres southwest of Karachi, was built in 2007 with technical help from Beijing as well as Chinese Uinancial assistance of some $248

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million.

Speaking on the occasion, Ahsan Iqbal said that the ChinaPakistan Economic Corridor (CPEC) will be a fate changer for billions of people in the region through regional integration and connectivity.

The minister said the Gwadar Port was being developed under vision of Prime Minister Nawaz Sharif to develop it as a leading smart port city of the region. He said handing over of Uirst 600 acres of land for Gwadar free zone is a major milestone towards implementation of CPEC.