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Karachi, Wed October 11, 2017

ISLAMABAD

M FAIZAN

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irectorate General Customs Intelligence and Investigation (I&I) has shown tremendous performance under the supervision of Director General Shaukat Ali and has detected a case of duty and tax evasion through under invoicing and smuggling of liquor amounting to Rs 737.431 million by M/s Sun Diplomatic Bonded Warehouse (Pvt) Limited, Sector F-

11/4, Islamabad. Sources told Customs Today that information was received through Director General Customs I&I Shukat Ali that M/S Sun Diplomatic Duty Free (Pvt) Limited Islamabad are involved in smuggling of liquor under the garb of import. The company is operating a diplomatic bonded warehouse on a licence granted by the Model Customs Collectorate, Islamabad, and imports alcohol against import authorization issued by the Ministry of Commerce for sale to the diplomatic and privileged persons. According to Cus-

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toms I&I Rawalpindi the licensee imported various brands of liquor like Johnny Walker, Red Label, Whyte and Mackay Whisky, Hedges and Butler Royal Vodka and cleared the same on the values grossly on the lower side. In fact, the licensee used the modus operandi of under invoicing and mis-used the authorization issued by Ministry of Commerce and succeeded in smuggling a huge quantity of liquor into the country at the cost of national exchequer and in breach of provision of Customs Act, 1969 section 2 (s), 16, 25, 32 (1) and (2) and 32A.

BBIA Customs seizes 40,000 UAE Dirhams from Kuwait-bound passenger

Surriya to revise Valuation Ruling No: 799/2016 on 27th

DC Adjudication orders confiscation of illegally imported engine oil

CPEC – a masterpiece of Pak-China relations: Ahsan Iqbal

MCC Peshawar generates Rs5174.02m in 1Q by excelling its yesteryear’s collection

Following the instructions ofTariq Pasha, Chairman FBR the Customs staﬀ deployed | See pAge 02 |

DG Valuation has decided to revise the Valuation Ruling No: 799/2016 | See pAge 03 |

CustomsAdjudicationDCZainab MehmoodhasissuedONO352/2017 | See pAge 04 |

Ahsan said that CPEC, a masterpiece of ties between the two countries | See pAge 14 |

MCC Peshawar collected Rs5174.02million in first three months | See pAge 16 |

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Collector Ajaz declares seizure of foreign currency as legal Wednesday, October 11, 2017

Islamabad

ISLAMABAD: Collector Adjudication Dr Ajaz Qureshi has ordered the conﬁscation of 100,000 Saudi Riyals and 100,000 UAE dirham, which were recovered from a passenger at Torkham border. The collector passed an Order in Original (ONO) No. 138 of 2017 in seizure of foreign currency case No. 27/2017. According to details, the money was recovered from a passenger named Jaidadullah at Torkham Customs Station while he was leaving for Afghanistan. The passenger had tactfully concealed the foreign currency in a plastic bag.

BBIA customs seizes 40,000 uAe Dirhams from kuwait-bound passenger

ISLAMABAD

cuStoMS BuLLetIN report

M FAIZAN

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ederal Board of Revenue (FBR) has increased sales tax on high speed diesel to 31 percent from 30 percent to be applicable from October 2017. The FBR issued SRO 984(I)/2017 to notify sales tax during October 2017. The FBR only increased sales tax by one percent on supply of high speed diesel. However, the sales tax rates on other POL products kept unchanged. The sales tax rate on POL products are: motor spirit excluding HOBC, 17 percent; kerosene, zero percent; and light diesel oil, zero percent. Earlier in the day, the government announced the prices of petroleum products for the period starting from October 01, 2017 until midnight on October 31, 2017. On the basis of the prevailing prices in the international market, OGRA recommended an increase of Rs. 2.35/Litre in the price of MS 92 RON Petrol, increase of Rs. 2.17/Litre in the price of High Speed Diesel (HSD), increase of Rs. 19.32/Litre in the price of Kerosene Oil, and increase of Rs. 14.09/Litre in the price of Light Diesel Oil (LDO). After considering the proposal of OGRA, the Prime Minister has decided that the prices of HSD, MS 92 RON Petrol and LDO will be increased by Rs. 2.00/Litre each, while the price of Kerosene Oil will be increased by Rs. 4.00/Litre.

ollowing the instructions of Tariq Pasha, Chairman Federal Board of Revenue (FBR), the Customs staff deployed at the Benazir Bhutto International Airport (BBIA) Islamabad conSiscates foreign currency of 40,220 UAE Dirhams from a passenger travelling to Kuwait from Islamabad. According to details explained by Additional Collector Nisar Ahmad Phullerwan that, on 3rd October 2017 during a clearance of Flight No: KU-206 from Islamabad to Kuwait, one passenger named Nihar Muhammad S/o Zar Gul, a resident of Mohallah Kumar Khel, District Swabi, was holding a passport No: MX0158052. Additional Collector told CT that passenger was stopped at the international departure and asked to get his luggage checked. During the checking, the customs staff recovered said currency notes. The customs staff impounded the above said foreign currency and registered an FIR after serving a notice on him under Section 171 of the Customs Act-1969. The case has been referred to the Investigation and Prosecution (I&P) Department. Under the authorization of the State Bank of Pakistan (SBP), no passenger can carry above $60000 or equal to that

FBr increase sales tax on high speed diesel to 31%

amount in a year. The customs has installed a software which can show the details about every passenger who travels from the BBIA. Meanwhile, Under the supervision of newly deputed Additional Collector Air Freight Unit (AFU) Nisar Ahmed Phullerwan, the customs staff of the Benazir Bhutto International Airport Islamabad has foiled attempts to smuggle $19,000, at least 100,000 Saudi riyals and one kilogram ice heroin to Saudi Arabia

and Bangkok. During an exclusive interview with Customs Today, Additional Collector AFU Nisar Ahmed Phullerwan said that during initial 20 days of September, with the support and guidance of Tariq Pasha, Chairman Federal Board of Revenue (FBR), Zahid Kokhar, Member Customs FBR, and Dr. Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, the customs staff of the Islamabad airport showed satisfactory perform-

ance against the money launderers and heroin smugglers. During the last night of 25th of September FY17-18, the customs staff, led by Ali Asad, Assistant Collector Islamabad Airport, intercepted $19000 that was detected at the international departure lounge at 11pm. He added that the said currencies were recovered from a passenger named Muaazullah, a resident of Peshawar, who was travelling by TG Flight-350 bound for Bangkok.

Diﬀerent smuggling items & vehicle impounded by ASo

ISLAMABAD

tArIQ DerYA

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he Anti-Smuggling Organization (ASO) Islamabad took into possession various smuggling goods valued at Rs3.9million along with an offending (vehicle used for carrying smuggling goods) on September 28, 2017-18. According to details explained by Majid Hussain Gadd, Assistant Collector ASO, on a tip-off shared by

Collector Model Customs Collectorate (MCC) Islamabad Dr. Saeed Khan Jadoon that the ASO squad established a picket on GT Road Peshawar –Rawalpindi and intercepted a Mazda truck with registration No: LES-3332. During a checking, the ASO staff found a huge quantity of smuggling goods. Assistant Collector told CT that the ASO staff asked the possessors of items to show the proof of Goods Declaration (GD) or any other proof that loaded items are not smuggled

but the possessors failed to provide any valid evidence. The items comprise 840 kilogram of CTG E-glass chopped stand mat (Emulsion) grad A, 450 g/m2 product code EMCL-450-1040 M 28 rolls (30 Kg each) Made in China, 900 kg CTG E glass chopped stands mat (emulsion) 30xdls 225g/M2 made in China and 600 Kg of CTG-Eglass chopped stands mat (Emulsion) 20 rolls 300 g/m2 Made in China. The seized goods’ cost was estimated at Rs2.9million.

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SHC seeks comments from customs officials in oil tanker seizure case KARACHI: The Sindh High Court (SHC) has directed customs officials to file para wise comments on a constitutional petition filed by Hazrat Bilal, seeking release of his oil tanker bearing registration number KV-3825 which was seized by customs officials. A two-member bench, comprising Justice Munib Akhtar and Justice Umer Sial, was hearing the petition. During the hearing, counsel for the customs again sought time to file para wise comments, therefore, the court granted time and adjourned the hearing. Earlier, counsel for the petitioner stated that petitioner is lawful owner of the vehicle, however, the customs officials seized it without showing any lawful reason.

customs preventive foils bid to smuggle brown heroin from JIAp

Wednesday October 11, 2017

Karachi

Surriya to revise Valuation ruling No: 799/2016 on 27th

KARACHI

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ollectorate of Customs Preventive team deputed at Jinnah International Airport foiled a bid to smuggle 600 gram of brown heroin powder out. Sources told Customs Today, that Custom Preventive staﬀ at Jinnah International Airport’s international departure terminal intercepted a Nigerian passenger who was later identified as Kelechi Franca Earnest for examination at customs counter which led to the recovery of 600 grams of brown Heroine powder. Sources told that the same power has been tested on drug testing kit confirming it as heroine. She was set to leave for Nigeria from Turkish Airline via flight TK-709.

court awards jail term to suspects in smuggling case KARACHI

M B rANA

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ustoms Court Judge Syed Faiz Rasool Rashdi has awarded seven days imprisonment and Rs 100,000 fine to suspects namely Dildar son of Khayalman Shah and Jahad Akbar son of Fazal Akbar on pleading guilty. They were booked for attempting to smuggle non-duty paid Iranian origin high speed diesel. During the hearing, counsel for the suspects moved petitions for pleading guilty and leaving themselves on the mercy of the court. After the arguments, the court awarded seven days imprisonment, which they had already undergone, and Rs 100,000 fine. According to the prosecution, the customs authorities intercepted an oil tanker bearing registration number TAJ-806 near Super Highway at bypass Hyderabad and recovered 25,000 liters Iranian high speed diesel.

KARACHI

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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 799/2016 on October 27, it is learnt. Surriya Butt has said the department is reviewing suggestions from importers to set new prices. She said some valuations, which were issued in 2015 and 2016, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in the international markets. Sources told reporters that a petition was submitted by the importers to Customs Valuation in which change in prices of ammonium bicarbonate was requested. Sources said the Valuation Ruling No: 799/2016 was issued on 22th of January 2016. A meeting was held with the stakeholders on October 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained. Meanwhile, Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No 737/2015 on October 16, it is learnt here. According to the details, Surriya Butt has said

that the department is reviewing suggestions from importers to set new prices. She said that some valuations, which were issued in 2015, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in international markets. Sources told reporters that a petition was submitted by the importers to Customs Valuation in which change in prices of toilet soaps was re-

Sources told reporters that a petition was submitted by the importers to customs Valuation in which change in prices of ammonium bicarbonate was requested. Sources said the Valuation ruling No: 799/2016 was issued on 22th of January 2016

Appraisement east collects rs 31.432m

KARACHI

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ustoms Collectorate of Appraisement East Collector Asahad Jawwad has generated Rs 31.432 million under the head of customs duty, sales tax, income tax and federal exercise duty during 30 days of September. Sources told Customs Today that Customs Appraisement East collected Rs 10.247 million under

the head of customs duty, Rs 9.249 million under the head of sales tax, Rs 2.956 million under the head of income tax and Rs 8.98 million as federal excise duty (FED) during the 30 days of September 2017. The Collectorate of Appraisement East has generated Rs 28.884 million under the head of customs duty, sales tax, income tax and federal excise duty during the first 26 days of September and Rs 16.145 million under the head

of customs duty, sales tax, income tax and federal excise duty during the first 14 days of September. It is necessary to mention here that during the month of August 2017, the Customs Appraisement East had collected Rs 21.556 million taxes and duties that included Rs8.046 million under the head of customs duty, Rs 9.145 million as sales tax, Rs 4.224 million as income tax and Rs102 million under head of federal excise duty (FED).

quested. Sources said that Valuation Ruling No. 737/2015 was issued on 27th May 2015. A meeting was held with the stakeholders on 26 September, 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.

Shc adjourns hearing till oct 30 Sindh High Court’s customs appellate bench has adjourned hearing of a vehicle detention case. The bench adjourned the hearing of the petition filed by Abid Ashraf seeking release of Toyota Hilux Surf detained by Directorate of Customs Intelligence and Investigations. The bench perused the comments filed by respondent DIT filed by Khalid Rajpar advocate.

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FTO postpones hearing of case ﬁled by Ahmed Enterprises Wednesday October 11, 2017

Lahore

LAHORE: The Federal Tax Ombudsman (FTO) has heard the case filed by proprietor of M/s Ahmed Enterprises against the Regional Tax Office, (RTO-II) Lahore until the next date of hearing. FTO Consultant Tariq Yousaf heard the case filed by proprietor of M/s Ahmed Enterprises. The counsel for the appellant argued that the RTO had failed to release the sales tax refund to the appellant for the last two years. He said that RTO-II collected excessive tax from the company during the last two years. The petitioner approached the officials concerned several times for issuance of the refunds, but the RTO officials failed to clear the refunds after the passage of reasonable time. Finally, the appellant decided to approach the FTO seeking interference in this case.

Fto adjourns hearing of case of case filed by M/s haji Niam Din & Sons LAHORE

SAJID NAwAZ

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he Federal Tax Ombudsman (FTO) has adjourned the hearing of a case Siled by Proprietor Haji Niam Din & Sons against Regional Tax OfSice-II (RTOII) until the next date. According to the details, FTO Consultant Tariq Yousaf heard the case of Siled by proprietor of M/s Haji Niam Din & Sons in which the counsel for the appellant argued that the RTO had failed to release the sales tax refund of the last two years claimed by the company. He said that the RTO-II collected excessive tax from the company during the last two years. They approached the commissioner concerned many times for issuance of

Interest-free loans given to 173,000 small farmers s many as 173,000 small farmers have been given interestfree loans in a period of 10 months under the Khadim-e-Punjab Kisan package. A spokesman for the Punjab Agriculture Department disclosed this here on Saturday. He said Rs 40,000 per acre were being given for Kharif, while Rs 25,000 for Rabi. Interest-free loans of Rs 100 billion were being given to farmers who have 12.5 acres of land, he added. The spokesman said 600,000 farmers would be given loans in Punjab and farmers, who have five acres of land, were given loans on priority basis. “Interest-free loan would be given for the next crop if the previous loan is timely paid,” he added. Farmers would be given token after registration and the relevant bank and department would contact those farmers who will meet the eligibility criteria. –CB Report

the refunds but the RTO-II ofSicials did not pay the refunds after the passage of reasonable time. At the end, the company decided to approach the FTO seeking interference in this case. The counsel appealed the FTO advisor to direct the RTO-II to clear the refund claims. The counsel further said that the RTO should refund the excess collection in wake of taxes by the end of Sinancial year but the situation is quite otherwise. Delay in issuance of refunds put burden on the taxpayers, he said, adding that the RTO should make audit of the cases and release the extra amount collected by it from the taxpayers. On the other hand, counsel for RTO argued that the appellant proprietor M/s Haji Niam Din & Sons has not submitted all record in the ofSice on which basis it is claiming for refunds. If appellant provides accurate record, the RTO will issue the refunds if any after proper assessment.

Dc orders confiscation of illegally imported engine oil LAHORE

M hAYAt

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ollectorate of Customs Adjudication Deputy Collector Zainab Mehmood has issued Order-in-Original (ONO) 352/2017 ordering to seizure illegally imported oil. According to the details, the anti smuggling squad intercepted 50 cans of engine oil lying on the road outside M/s Akam Goods Ravi Link Road Lahore. On query a person standing near the said cans identiSied himself as Saleem Shahid son of Saleem Akhtar and provided a bilty bearing no: 592 dated 19.5.2017 issued by Pak National Goods Transport Company Karmanwaqla Town GT Road Okara showing the transportation of 50 cans oil from Okara to Lahore depicted sender’s name as Dewan Autos and recipient’s name as Dr. Shahid.

customs Appellate tribunal accepts appeal of M/s honda Atlas cars

ustoms Appellate Tribunal has set aside the impugned order in appeal Siled by M/s Honda Atlas Cars (Pakistan) against Collector of Customs (Appeals) Lahore and others. Chairman Customs Appellate Tribunal Justice ® Malik Manzoor Hussain heard the arguments from both parties and decided the case in favor of appellant after examining all the relevant record and information provided by the both parties. As per brief history of case,

customs authorities allegedly found some alteration in the auto parts imported by the appellant and charged some amount which is payable by the complainant. Appellant filed the appeal before the Customs Appellate Tribunal and produce all relevant record before the court and appeal that the order passed by the earlier authority is liable to set aside, on the other side the counsel for respondent argued in the favor of their respective party. –CB Report

On demand Saleem Shahid failed to show or produce any legal documents in support of lawful possession of the above said foreign origin engine oil. Therefore ASO team seized the entire engine oil after registering a case against the owner under Customs Act 1969. Anti Smuggling Organization forwarded the case to Customs Adjudication for further proceedings. Customs Adju-

dication issued show cause notice to the owner of the cans. Despite issuing many notices to the owner no one appeared before the Deputy Collector Adjudication ofSice to defend the charges leveled against him. After their failure Deputy Collector Customs Adjudication Zainab Mehmood ordered to conSiscate the engine oil under Customs Act 1969.

customs tribunal heard 40 cases he Customs Appellate Tribunal’s division bench-II (single and double), comprising Chairman Justice ® Malik Manzoor Hussain, Judicial Member Omer Arshad Hakeem and Member Technical Imran Tariq, heard 40 cases and adjourned all of them until the next hearing. Division bench heard cases of Farhan Saleem versus Directorate of Intelligence and Investigation Faisalabad, Rana Shaukat Ali versus Directorate of Intelligence and Investigation Lahore, Rehmat Ullah versus Directorate of Intelligence and Investigation Lahore, Irfan Eziz

versus Directorate of Intelligence and Investigation Multan, A.M. Construction versus Customs Lahore, Customs Multan versus Kukab Enterprises, Muhammad Anwar versus Directorate of Intelligence and Investigation Faisalabad and Tahir Rauf versus Directorate of Intelligence and Investigation Multan. The Customs Appellate Tribunal’s single bench, comprising Imran Tariq, heard three cases including Muhammad Hussain versus customs Faisalabad, Muhammad Rehan versus Customs Lahore and Tanvir Hussain versus Customs Lahore. –CB Report

customs foils bid to smuggle 100 pigeons of high breed

LAHORE

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ustoms Preventive team deputed at Allama Iqbal International Airport and Wild life authorities foiled bid to smuggle 100 pigeon of high breed, Customs sources told Customs Today.

The sources said that the authorities after receiving credible information intercepted a passenger who tried to smuggle 100 pigeons from Riyadh to Lahore. The authorities identified the accused person as Usama who was coming through PIA flight no: PK-726. It was said that the pigeon which were smuggled from Gulf were aimed at to be sup-

plied in various arrears of Punjab. The sources said that the passenger attempted to smuggle the pigeons and was held when the authorities searched him. The customs officials said that the pigeons have been handed over to the Wild Life authorities. Another sources said that the high breed of the pigeon are used for gambling in various ar-

eas in Punjab and they have attained a high place due to their enhanced period of flying in the air, in some case many nights and days. The pigeon that remains more nights out of its home are declared winner and awarded with the set amount of money or any other reward as decided by the jury.

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ISLAMABAD

tArIQ DerYA

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The Directorate of Customs Intelligence and Investigation (I&I) Peshawar made 46 seizure cases of smuggling goods valued at Rs183.2million during the 1st-Quarter Financial Year (FY) 2017-18. The directorate seized heroin worth Rs13.7million during said period. The Directorate of I&I has established and made functional the PRAL, which has improved its efSiciency/capacity in retrieving the data and generation of reports for enforcement related activities. Prior to said initiative, the directorate has been dependent on the headquarters for all types of data and statistics. This was stated by Muhammad Saleem, Director I&I Peshawar, while giving an exclusive interview to Customs Today. He told CT that, during the Sirst Quarter FY17-18, the Directorate of I&I impounded 33 offending vehicles worth Rs45.9million while I&I took into possession 32 Non-Duty-Paid (NDP) vehicles valued at Rs73.9million. The Director I&I further told CT that, during the 1st-Q, the directorate posted outstanding performance and made 46 cases against tax evaders and possessors of contraband items priced at Rs63.4million. The Directorate of Peshawar conSiscated 13.700 kilogram of

heroin worth Rs13.7million during above said period. Answering a query, Muhammad Saleem, Director I&I Peshawar, said the Directorate of I&I Peshawar has a vast territorial jurisdiction, comprising the whole Khyber Pakhtunkhawa province, which impedes the execution of an effective anti-smuggling and enforcement operational plan based on improvisation, effective coordination with other law enforcement agencies (LEA) and monitoring of prosecution. Telling about the performance of I&I Peshawar during his tenure that comprises (November to June) FY16-17 and is compared with FY15-16, he told CT that, during November to June FY16-17, the I&I seized smuggling goods worth Rs634.00million while it did items worth Rs231.00million during the same period of corresponding FY15-16. During November to June FY16-17, I&I earned duties and taxes valued at Rs336.00million whereas it received Rs138.00million during the same period of FY15-16. During current Sinancial year, I&I Peshawar registered 175% more cases of smuggling items against the same period of last Sinancial year. Showing comparison between FY16-17 and FY15-16, I&I impounded nine NDP vehicles worth Rs118million dur-

ing FY16-17 while it took into possession 76 NDP vehicles valued at Rs46million during FY15-16. During FY16-17, it impounded 123 offending vehicle valued at Rs139million while I&I did 157 offending vehicles worth Rs51million during FY15-16. Director I&I Peshawar further told CT that, during FY16-17, it conSiscated 12,018 mobile phones priced Rs50million whereas it impounded 6,400 phones valued at Rs3.2million during FY1516. During FY16-17, I&I seized 100,068 cartons of cigarettes worth Rs76million while it conSiscated 10,350 cartons of smuggling cigarettes priced at Rs0.87million during FY15-16.

st the fir g n i r u t, d e of c t tha ctorat e d r l i o D t he icles 8, the ng veh FY17-1 i d r e n t e r Q ua took 33 oďŹ&#x20AC; ile I&I unded h o p w n m i o I&I milli y-paid rs45.9 n-D ut o h t N r 2 o 3 w ion at ossess valued s e l into p c i veh n (NDp) millio rs73.9

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Wednesday, October 11, 2017

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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

widening trade deficit

he State Bank of Pakistan expressed optimism about the economic progress of the country last week, but independent economists believe the recent increase in oil prices in the international market, depleting foreign exchange reserves and pressures on the government to devalue rupee could pose serious threats to the national economy. The bank, in its report last week, had expressed the hope that the government would achieve the growth target of 6 percent in the fiscal year 2018.The State Bank has maintained the key interest rate at 5.75 percent for the next two months on the ground that inflation will remain below 6 percent during the current fiscal year. However, economists agree that the country would achieve 5.6 percent growth in the Gross Domestic Product (GDP) during the current fiscal year but growing concerns about the external account also need to be resolved. The oil prices in the international market have increased by $10 per barrel to stay at $51.5 per barrel, putting pressure on the countries like Pakistan.The government has already increased oil prices, giving a severe blow not only to the general public but also to the industry. There is already a meagre attraction for foreign investment in the country due to lack of trust in the government policies. The increase in oil prices will increase the import bill of Pakistan where the dependence on oil has tremendously gone up due to car purchasing spree in the country. Economists fear that increase in the oil import bill will also have its share of pressure on the balance of payment problem. The country is already seeking loans from the international donor agencies for debt servicing and so far failed to generate income to pay the foreign loans. It is feared that the current account deficit will appear in the form of crisis during the third quarter of the current fiscal year and the government may be forced to re-negotiate a bailout package with the IMF. On the political front, the government and the opposition parties are fighting for their survival and are least concerned about the economy of the country. According to an estimate, the current account deficit will reach $16-16.5 billion during the current fiscal year and at least $77.5 billion will be required for debt servicing in a situation where foreign exchange reserves are below $14 billion.

Fallout of inconsistent economic policies A

LAHORE

Dr AFtAB AFZAL

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ccording to newspaper reports, the Ministry of Commerce has admitted that inconsistent policies are responsible for continuous fall in the countryâ&#x20AC;&#x2122;s exports as about 45 products have failed to compete in the international market. In a report presented in parliament, besides other reasons, the trade and monetary policies have been the principle factors since the current government took over in 2013. On one hand the government failed to devise a mechanism to regulate financial policies and on the other, it lacks vision to update economy in line

with the changing environment in the region and elsewhere. The main thrust of the policymakers always remained on squeezing the business community to extract more and more money without realizing that it will adversely affect trade and economy. The former prime minister, who himself is a businessman, could not coordinate with the business community to resolve thorny issues faced them. When other nations in the region are making tremendous progress, the government confined itself to lip service. Bangladesh is a success story which has boosted its economy from scratches and even Pakistani businessmen invested billions of dollars in that

country which is hostile to Pakistan. As a matter of fact, the PML-N government could not grasp things during its four year tenure and the situation is now turning into political chaos. The export and import policies still need improvement. Pakistani business community is also responsible for the falling exports as they have failed to diversify their products, produce an international brand or tried to explore non-traditional sectors. They are still relying on traditional exports such as textile, rice, sports and leather products and still use old technology which increases cost of production. At least 72 percent exports of the country were made of cot-

ton during 2016-17, showing narrow export base of the country. The economy is in disarray and it needs attention from the government to revise tariffs and taxes to create a business friendly environment. The current situation is that every entrepreneur is fighting for his survival in the hostile situation. When focus of the government policies is only to collect money, all the other business friendly steps will be backfired and that is the practice going on in the country since independence. There is a need to provide level playground for the local and foreign investors and that is the only panacea for economic woes of the country.

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6 Appraising officers, 2 Preventive officers reshuffled KARACHI: Six Appraising officers and two Preventive officers of BS-16 have been transferred and posted with immediate effect. Appraising Officer Syed Qamar Abbas has been posted at Appraisement West Karachi from Appraisement Lahore. Appraising Officer Khurram Rafique has been posted at Appraisement East Karachi from Transit Trade Karachi. Appraising Officer Saleem Khan Lodhi has been posted at Port Qasim Karachi from Transit Trade Karachi. Appraising Officer Mohammad Bilal has been posted at Appraisement East Karachi from DG Valuation Karachi. Appraising Officer Faryal Amber has been posted at PCA Lahore from Appraisement Lahore. Appraising Officer Fatima Hussain has been posted at Appraisement Lahore from IOCO Lahore. Preventive Officers Zainab Hayat and Mahwish Khan have been moved from Preventive Karachi to Islamabad.

Ihc adjourns hearing of reference filed by custom collectorate

Wednesday October 11, 2017

National

Appraisement west moves Shc challenging a misdeclaration case

ISLAMABAD

NAeeM uLLAh tArIQ www.customsbulletin.com

division bench of the Islamabad High Court (IHC), comprising Justice Athar Minallah and Justice Miangul Hassan Aurangzeb, dated in oﬃce the hearing of a customs matter submitted by Model Collectorate of Customs (MCC), Islamabad. Collector Customs had filed the case against Nusrat Yaqoob. The matter was pending in the court since 2014. Earlier, the bench had relisted the matter for rehearing during the next week along with other similar cases. The court also issued notices for relisting of the matter. The bench also dated in oﬃce the hearing of cases submitted by M/s Pakistan

Tobacco Company Limited for further proceedings. M/s Pakistan Tobacco Company Limited had filed the reference in which the company had challenged a show cause notice issued by the Large Taxpayers Unit, Islamabad. M/s Pakistan Tobacco Company Limited had contested show cause notices issued by the field oﬃces of Federal Board of Revenue. According to details, M/s Pakistan Tobacco Company Limited had challenged recovery notice issued to it in head of outstanding sales tax by the LTU, Islamabad. M/s Pakistan Tobacco Company Limited had submitted the department had issued the demand for the tax year 2010 in head of sales tax. Federal Board of Revenue (FBR), oﬃcers of LTU including commissioner Inland Revenue, commissioner Inland Revenue (Appeals) and Appellate Tribunal Inland Revenue (ATIR) were made respondent in the case.

KARACHI

M B rANA

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ustoms Appraisement West has moved Sindh High Court against the Customs Appellate Tribunal’s order in a misdeclaration case of auto parts import. The Collectorate raised certain questions of law in the case pertaining to M/s Chief Auto Center which imported auto parts in the garb of machinery parts to evade Rs59 million tax. The company imported three consignments declaring to contain cylinders liner and pistons from Japan and processed the GDs. The GDs were selected for checking and it was found the GDs were assessed under declared PCT 8409.9999. However, an information was received that the importer M/s Chief Auto Center, Lahore is importing auto engines’ parts under the garb of machinery parts and making attempt to inSlict loss of revenue to the exchequer to the extent of Rs59 million. The consignments were reexamined and found to contain the auto engines’ parts correctly classiSiable

under PCT 8409.9910 chargeable to customs duty 35 percent instead of declared PCT 8409.9999 chargeable to custom duty 11 percent. Subsequently, the consignments were detained and a show cause notice was served on the importer. The Collector Adjudication vide order-in-original and

without giving due consideration to the established facts and circumstances and rather passed the judgment as per dictates of the importer. Collector Adjudication observed that the imported goods are subject to payment of duty and taxes as per PCT 8409.9999 as machinery parts and there is

no charge of misdeclaration. Dissatisfied with the order-inoriginal, Appraisement West has approached Sindh High Court challenging the adjudication order. It is submitted that the M/s Chief Auto Center wilfully misdeclared the classification to evade national revenue.

customs exports issues 14 show cause notices in Sep ISLAMABAD

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he Customs Exports has served 14 show cause notices on tax defaulters and tax evaders for recovery of dues during the 30 days of September. Sources told Customs Today that Custom Exports issued notices to 13 companies, including M/s Razi Corporation, M/s Zeyan Associates, and others. Source said that M/s Razi Corporation used wrong Pakistan Customs Tariff (PCT) headings to get a consignment of handmade curtain sets cleared on August 30 and caused the national treasury a loss of Rs 1.70 million. During the scrutiny of the import data, the Customs Exports detected the misuse of PCT heading for which it was issued with a show-cause no-

tice no: 217/2017 for paying the evaded amounts of tax and duty. Meanwhile, the Customs Exports unearthed another tax evasion committed by M/s Zeyan Associates who got cleared a consignment of differ-

ent machinery parts. The customs authorities, after a careful investigation, served a show cause notice on the company and asked it to deposit the evaded tax amounts within fortnight. Another factory M/s Shabbir

and Sons cleared a consignment of Sloor plastic and used wrong Pakistan Customs Tariff. The custom authorities issued a show cause notice and mentioned to submit all the documents for consignment soon.

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Falik Shair assumes charge as Dy Collector at Appraisement West Wednesday October 11, 2017

National Masood assumes charge as Additional collector at Appraisement east

ISLAMABAD: Falik Shair, a Pakistan Customs Service officer of BS-18, has assumed the charge as Deputy Collector. The officer, in pursuance of Board’s Notification No. 2429-C-II/2017 dated 30.08.2017, relinquished the charge of the post of Deputy Collector, Model Customs Collectorate, Faisalabad on September 12 and took the charge of the post of Deputy Collector, Model Customs Collectorate of Appraisement (West), Karachi on September 18.

Five Ir oﬃcers of BS-19 relinquish, assume charge

ISLAMABAD

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ISLAMABAD

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asood Ahmed, a Pakistan Customs Service officer of BS-19, has assumed charge as Additional Collector. The officer, pursuing the Board’s Notification No.2242-C-I/2017, dated 18.08.2017, relinquished the charge of the post of Additional Director (BS-19), Directorate General of Post Clearance Audit, Islamabad on August 28 and took charge of the post of Additional Collector (BS-19), Model Customs Collectorate of Appraisement (East), Karachi on September 5. Meanwhile, Rizwan Ahmed Urfi, a BS-20 officer of Inland Revenue Service, has assumed the charge as Commissioner-IR. The officer, in pursuance of Board’s Notification No. 2628-IR-I/2017, took the charge of the post of Commissioner-IR, Inland Revenue (Appeals), Gujranwala with effect from September 25.

Sajid takes charge as Dy collector at karachi exports ajid Ali Baloch, a Pakistan Customs Service officer of BS-18, has taken the charge as Deputy Collector, Model Customs Collectorate of Exports, Custom House, Karachi. Sajid, in pursuance of Board’s Notification No. 2429-C-II/2017 dated 30.08.2017, relinquished the charge of the post of Deputy Director, Directorate of Post Clearance Audit, Karachi with effect from September 7 and assumed the charge of the post of Deputy Collector, Model Customs Collectorate of Exports, Custom House, Karachi on the same date. Meanwhile, Zamzam Aman, a Pakistan Customs Service officer of BS-18, has assumed the charge as Deputy Director, Directorate General of Training & Research (Customs), Karachi. –CB Report

ive Inland Revenue Service ofSicer of BS-19 have relinquished / assumed the charge of their respective posts. The ofSicer, in pursuance of Board’s NotiSication No. 2628-IRI/2017, dated 20.09.2017, relinquished / assumed the charge with effect from the dates indicated against each. Meanwhile, Four Inland Revenue Service ofSicer of BS 19-20 have relinquished / assumed the charge of their respective posts. The ofSicer, pursuance of Board’s NotiSication No. 2628-IR-I/2017, dated 20.09.2017, relinquished / assumed the charge with effect from the dates indicated against each.

Meanwhile, Junaid Usman Akram, a Pakistan Customs Service ofSicer of BS-18, has assumed the charge as Deputy Director, Directorate General of Post Clearance Au-

dit, Islamabad. The ofSicer, in pursuance of Board’s NotiSication No. 2429-C-II/2017 dated 30.08.2017, relinquished the charge of the post of Deputy Director, Directorate of

IPRE (North), Islamabad on September 18 and took the charge of the post of Deputy Director, Directorate General of Post Clearance Audit, Islamabad on the same date.

Multan customs Intelligence impounds vehicles & goods worth rs32.60 million D MULTAN

IMrAN ALI

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irectorate of Customs Intelligence and Investigation has impounded vehicles and miscellaneous goods worth Rs32.60 million during September of on-going Fiscal Year 2017-18. Deputy Director Customs Intelligence and Investigation Multan Range OfSice Khial Muhammad Khan carried out various antismuggling operations against smuggled goods and vehicles in the territory on the directions of Director General Customs Intelligence and Investigation. During the above said period Customs Intelligence and Investigation detected 16 various seizure cases during anti-smuggling campaign in September. Customs Intelligence and Investigation field staff impounded

15 foreign origin smuggled vehicles of worth Rs31.4 million in their anti-smuggling crack-

down in the Jurisdiction throughout September. Customs Intelligence has also finalized

seizure case of miscellaneous goods of worth Rs.1.2 million in their different action.

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Ahmad Shakeel assumes charge as Second Secretary (BTB) ISLAMABAD: Ahmad Shakeel Babar, an Inland Revenue Service officer of BS-17, has assumed the charge as Second Secretary (BTB). The officer, in pursuance of Board’s Notification No.2628-IR-I/2017 dated 20.09.2017, relinquished the charge of the post of Deputy Commissioner-IR, (on acting charge basis) RTO, Abbottabad with effect from September 21 and took the charge of the post of Second Secretary (BTB), Federal Board of Revenue (Hqs), Islamabad on September 25. Meanwhile, Dr Muhammad Iqbal, an Inland Revenue Service officer of BS-21, has been assigned the additional charge of the post of Member (HRM).

court approves judicial remand of accused involved in’ smuggling LAHORE

M IMrAN MehAr

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he Special Federal Court of Customs Taxation and Anti-Smuggling has approved a 14-day judicial remand of an accused held in currencies’ smuggling case. Accused Faisal Hussain was arrested by the Customs Preventive Authorities at the Allama Iqbal International Airport Lahore. The customs authorities at the Allama Iqbal Airport, during a search of his luggage, found a large number of currency notes. Accused Faisal Hussain was trying to smuggle currencies of Rs02million. The customs authorities found dollars, Euros, Pounds and Pakistani currency from his luggage. The customs investigation team had presented him before the customs court for getting their

physical remand to investigate more on the issue that was approved by the court. After the completion of the remand, customs team had presented him again before the court and told the court that all the investigation had been completed, so court could send him to jail. The preventive authorities apprehended the accused who was attempting to smuggle the currencies from Lahore into Europe. The customs investigation team had presented him before the court of a Special Judge of Customs Taxation and Anti-Smuggling, Tahir Sabir, and asked for his judicial remand of 14 days. The customs has registered a case against the accused and launched an investigation as well after confiscating the cell phones that they were trying to smuggle. The customs authorities have registered a case against him under Pakistan Customs Act-1969.

National

NAB to expedite probe into kASB-Bank Islami merger

Adjudication-II issues show cause notice to M/s taloot traders KARACHI

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ollectorate of Customs Adjudication-II has issued a show-cause notice against M/s Taloot Traders for allegedly causing a loss of Rs 1.89 million to the national exchequer by way of mis-declaration of classification, it is learnt. Sources told Customs Today that the PCA Directorate found that M/s Taloot Traders imported a consignment of raw material of different leather chemicals cleared by misdeclaring the classification under Pakistan Custom Tariff 2170.7654 from Customs Port Qasim through their clearing agent namely M/s M M Shipping to avail undue/ inadmissible benefit/ exemption of sales tax vide S. No. 36, whereas the imported goods are correctly classifiable under PCT 2176.7657. It is pertinent to mention here that, M/s. Taloot Traders itself has imported identical/same import under correct PCT heading 2170.7654. Apart from it all other importers of different kind of sheets have either been declared by the imports or assessed by the Collectorate under correct PCT. Accordingly, an audit observation was issued to the said importer.

ISLAMABAD

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s the anti-graft body orders an investigation into the merger of KASB Bank with BankIslami, the State Bank of Pakistan (SBP) may not remove its ofSicials who have been accused of giving undue favour to the buyer and a chartered accountancy Sirm. The Executive Board of the National Accountability Bureau (NAB) decided to turn an ongoing inquiry into the conduct of ofSicials of the SBP, BankIslami and AF Ferguson into investigation. An ofSicial statement released by NAB stated that the accused allegedly misused their authority in terms of non-transparent amalgamation of KASB Bank into BankIslami and granted Rs20 billion in concessionary loan for the purpose, causing a loss of billions of rupees to the national exchequer. However, the SBP denied these allegations, saying it took the merger decision due to KASB Bank’s constant failure to meet the minimum capital requirement. It is NAB’s second decision that would have implications for the Si-

Wednesday October 11, 2017

nancial sector. Earlier, it decided to Sile a reference in the case of Rs18.5billion fraud in the Bangladesh branch of National Bank of Pakistan. Before the scheduled board meeting, NAB faced intense pressure from various quarters to drop the investigation, said ofSicials. The inquiry ofSicer, NAB director general operations and its chairman decided to take the case to the next step after going through the record. If the allegations levelled in the inquiry report are proved at the investigation stage and NAB gets hold of incriminating evidence, the next step will be the Siling of a reference

against the accused. The NAB inquiry report has named former SBP governor Ashraf Wathra, Executive Director Banking Policy Syed Irfan Ali, Director Shoukat Zaman, Deputy Director Arshad Mehmood, Deputy Director Nadeem Ahmed Jami, Deputy Director Muhammad Saleem and Deputy Director Shahid Ashraf as accused in the case. It also named two officials of AF Ferguson Asad Nazir and Asim Salim in the case. According to officials, the decision to include BankIslami officials in NAB probe was taken by the NAB headquarters.

Ac Adjudication serves notice on accused smugglers

RAWALPINDI

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dditional Collector Customs Adjudication Imran Ahmed Chaudhary has issued a show cause notice to M/s Muzdalfa Karwan Goods Transport Company Peshawar and accused Muhammad Sadiq S/o Meer Bashar Khan and Umar Farooq, residents of Nowshera. They were involved in a smuggling case of miscellaneous goods and dyed woven polyester fabrics for ladies suiting, multishades weighed 4080 kg. An FIR No: 46/2017 was registered against them. The hearing in this case has

been Sixed for 14.10.2017. It has been reported to Additional Collector Adjudication Imran Ahmad by the Assistant Collector that, on a tip-off, a raiding party, comprising of customs staff, was constituted which proceeded to Motorway. The Motorway Police were

also informed. In the meanwhile, Irfan Bashir, Inspector Motorway police, informed the riding party that a truck was stopped near Fateh Jang Toll Plaza Motorway. The raiding party reached the place. Two persons namely Muhammad Sadiq (Driver)

and Umer Farooq (Conductor) were found sitting in the tipped-off loader No: LES 17 457. A thorough search of the truck was conducted in the presence of witnesses that led to the recovery of imported goods and above said polyester fabrics. Both occupants of the truck were asked to provide any legal proof, written or otherwise, regarding the recovered items, but they could not produce anything relevant. So goods and cloths were impounded along with the truck LES 17-457. A criminal case was registered against the persons. The accused violated the provisions of Section 2 (s) and 16 of the Customs Act-1969.

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World Customs

UAE tax to double tobacco, energy drink prices

DUBAI: Tobacco and energy drink prices are set to double in the United Arab Emirates, which is imposing steep excise taxes to help ease a budget shortfall caused by low oil prices. Khaled al-Bustani, director general of the newly established UAE Federal Tax Authority, said on Wednesday that the 100-percent tax would be introduced from October 1. Prices of other types of soft drinks will increase by 50 percent, Bustani told a press conference. He declined to say how much the UAE will raise from the tax.

Wednesday October 11, 2017

customs and Border protection Agents seize $1.2 millon in drugs

hard Brexit could cost uk £17b in lost export revenue LONDON

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SAN DIEGO

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S Customs and Border Protection announced Tuesday the seizure of drugs worth $1.2 million smuggled through the San Diego and Imperial Valley border crossings last weekend. CBP ofSicers stopped 338 pounds of methamphetamine and 106 pounds of marijuana in vehicles from Friday through Monday. The ofSicers found the drugs in various locations throughout the vehicles such as the Sloor, doors, fuel tanks, speaker box, spare tire and quarter panels among others. A 35-year-old woman went through the San Ysidro border crossing Friday afternoon in a 2007 Mitsubishi Eclipse. A CBP ofSicer noticed some discrepancies with the convertible top and found a compartment full of white bags. OfSicers said the bags contained 101

Australian orange export value increases by 42% he value of Australian oranges into China rose 42 per cent in the 2016-17 financial year as overall export returns for the fruit grew by 11 per cent. The figures were disclosed in the annual Rural Bank Australian Agriculture Trade Performance report on Monday. Rural Bank’s Ag Answers senior analyst Matt Ough said the rising interest in “eating healthy” was behind the surge in export of oranges to China. “China’s middle class has a real desire to eat healthy food,” he said. “As they become more wealthy they look for quality food from countries that have a clean image in regards to food safety. “Australia has this image and in the last 12 months fruit has been on the menu.” Mr Hancock said to the end of July exports were 16 per cent higher by volume than at same time last year and 27 per cent higher in value. –CB Report

pounds of methamphetamine. CBP ofSicers also arrested 17 fugitives on outstanding felony warrants. The charges included fraud, burglary, vandalism, stolen burglary and parole violations. Meanwhile, US Customs and Border Protection officers seized more than 400 pounds of marijuana in five separate cases Wednesday at various El Paso ports

of entry, officials said. The five separate cases resulted in officers seizing 460 pounds of marijuana with an estimated street value of $368,000, U.S. Customs and Border Protection officials said. “The smuggling threat is consistent. Vigilant CBP officers are stepping up every day to stop drug loads,” Beverly Good, CBP El Paso port director, said in a statement.

canada’s proposed tax changes will stifle investment in early-stage startups

am a lifelong entrepreneur, small business owner, and investor. Not once in my 40-year career of making my own way have I ever complained about the Canadian tax system. I have always felt that it was such a privilege to live in this great country that I was more than happy to pay an outsized share of the cost to run it. We have always looked after our own here, and believing in that approach has made paying more than 50 cents

on a dollar earned acceptable to me. While unfair on the surface, 10 percent of the country’s population paying 54 percent of the total income tax was reasonable to me. One beneSit of being around for a while is that time and being exposed to constant change gives one perspective. My father, a small business entrepreneur, arrived in this country with a mere $60 in his pocket and only a grade 8 education. –CB Report

hard Brexit could cost the UK £17 billion, or €19 billion, in lost export revenue, a new report has warned. The research, by the law Sirm Baker McKenzie and economic consultancy Oxford Economics, suggests the car sector would be worst hit, with tariff and nontariff barriers costing it up to £7.9 billion, or €8.9 billion. The report assesses the likely impact on trade in four key manufacturing sectors: consumer goods, automotive, technology and healthcare, which account for 42 per cent of the United Kingdom’s manufacturing gross domestic product and 45 per cent of manufactured exports to the European Union. Consumer goods would be secondworst hit, with a projected loss of £5.2 billion, or €5.9 billion, followed

by healthcare, at £2 billion, or €2.3 billion, and technology, at £1.7 billion, or €1.9 billion. According to The Realities of Trade after Brexit, trade would fall off because the increased costs caused by trade barriers would lead to higher prices for UK exports and so make EU consumers switch to domestically produced goods. Although the European Union and the United Kingdom will both feel the pain, the UK is set to fare far worse, as the EU currently takes 49 per cent of UK exports while the UK takes just 9 per cent of the EU’s exports. The report suggests UK manufacturing exports to five key markets will need to increase by 60 per cent to offset export losses from a hard Brexit. It reveals that, for each of the four sectors, the United States offers the greatest opportunity, accounting for about half of the global market in each industry sector. China presents the secondlargest opportunity.

uAe remittances down 7.3% in Q2 he total value of remittances by foreign workers in the UAE decreased 7.3 per cent yearon-year in the second quarter, according to the UAE Central Bank. Remittance Slows during the quarter stood at Dhs40.8bn ($11.1bn) from Dhs44.1bn ($12bn) during the same period last year. This was despite a 10 per cent increase in remittance Slows from the Sirst quarter to the second from Dhs37.1bn ($10.1bn) to Dhs40.8bn. The bank said the decrease in outSlows could be attributed to a slowdown in economic activity and the recent depreciation of the dirham

during the quarter. It forecast that the growth rate of outward remittances would decrease this year. Total Slows reached Dhs77.9bn ($21.2bn) in the Sirst half of 2017, representing 48.5 per cent of the Dhs160.8bn ($43.7bn) of remittances last year, the bank said. Bank data showed 77 per cent of total remittances, or Dhs31.4bn, was transferred through money exchange companies and 23 per cent, or Dhs9.4bn, was transferred through banks. Indians were the most active nationality, accounting for 35.9 per cent, or Dhs14.64bn, of remittances during the second quarter. –CB Report

world Bank loan for Sri Lanka financial sector reforms

COLOMBO

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ri Lanka is to get US$75 million from the World Bank for Sinancial sector reforms that will modernize regulatory frameworks and infrastructure and improve access to affordable Sinance especially for small businesses and entrepre-

neurs. The loan, which amounts to about Rs11.4 billion, is provided by the International Development Association (IDA), the World Bank’s grant and low-interest arm, with a maturity of 25 years that includes a grace period of Sive years. The new Financial Sector Modernization Project (FSMP) will contribute to increasing Sinancial market efSiciency and use of Sinancial

services among micro, small and medium enterprises and individuals, a Sinance ministry statement said. “A strong Sinancial sector can help Sri Lanka sustain its developmental returns. EfSicient Sinancial markets can boost the competitiveness of Sri Lankan Sirms and overall job creation,” said Idah PswarayiRiddihough, World Bank Country Director for Sri Lanka and the Mal-

dives, “Inclusive Sinance, in turn, can help increase spatial integration and access to opportunities, encouraging entry into the formal economy. To make all this happen, Sri Lankan authorities must continue effectively addressing challenges in the Sinancial sector; such as gaps in Sinancial sector infrastructure, weak legal frameworks, and in oversight functions of the regulators.

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Shipping activity at Port Qasim KARACHI: Shipping activity remained brisk at the Port where ﬁve ships C.V MSC Esthi, C.v MSC Bilbao, M.T Grand ACE-5, M.T khor Gas and M.T Maran Gas Asciepius carrying containers, 33,000 tonnes palm oil, 1,488 tonnes LPG and 141,885 cubic meters LNG were arranged berthing at Qasim International Container Terminal, Liquid Cargo Terminal, SSGC Terminal and Engro Elengy Terminal respectively on Monday, 18th September-2017. Meanwhie four more ships, C.V USAC Al-Khor, C.V X-Press Makalu, M.T Kruibeke and M.T Ginga Oceiot with containers, LPG and palm oil also arrived at outer anchorage of Port Qasim during last 24 hours.

cochin port trust expects37crore profit this year raving rough weather for two consecutive financial years, the Cochin Port Trust is all set to come out of the red this fiscal, with an expected net profit of 37 crore. The loss last fiscal was 27.17 crore. Deputy Chairman AV Ramana attributed the turnaround to increased crude throughput by BPCL-Kochi Refinery and higher container traﬃc at the International Container Transhipment Terminal operated by DP World. The port is also expecting that the increased capacity utilisation at the LNG terminal is likely to bring more revenues this fiscal. The port posted 20 per cent growth in cargo handling during the period between April and August, the highest among all the major ports, Ramana told BusinessLine. He pointed out that the crude traﬃc witnessed a 28 per cent growth, thanks to Integrated Refinery Expan-

Ports & Shipping

port of Virginia advances on 55-foot channel project WASHINGTON

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hey’ve been the port community’s mantras for years and now it looks like the vision is a little closer to becoming a reality. A rough draft of a plan backed by the U.S. Army Corps of Engineers recommends that the port be allowed to dredge its main shipping channels to 55 feet, down from 50 feet, and to widen them to 1,200 feet from 1,000. Some channels – such as the Thimble Shoal Channel and the Atlantic Ocean Channel – would go even deeper, to 56 feet and 59 feet, respectively. If it all works out as planned, the Port of Virginia would have shipping channels deeper and wider than those now used at the Port of Los Angeles, the busiest port in the nation, where the channels are 53 feet deep and the main channel about 1,000 feet wide. “This is the artist’s sketch for that real masterpiece that’s going to be painted,” said John Reinhart, executive

director and CEO of the Virginia Port Authority, in comments between sessions Tuesday at a yearly “navigational summit” focused on optimizing the port’s shipping channels. “The lines are on the paper; we know where we’re going; and now we just have to Sinish the full piece. It’s a great step.” More than 100 port stakeholders attended the summit, the 12th consecutive year that the event has been held. It’s an industry update on the status of the push to deepen and widen the port’s channels that this year included

the unveiling of what’s known as a “tentatively selected plan milestone” – in this case, two of them. Its signiSicance was underscored by the presence of two congressmen, Reps. Bobby Scott and Scott Taylor, along with an array of port, Army Corps and other military ofSicials. Another project, to deepen sections of the Southern Branch of the Elizabeth River, got the Corps of Engineers’ go-ahead to dredge portions of the waterway to anywhere from 44 feet to 38-39 feet, from roughly 40 feet and 35 feet.

Wednesday October 11, 2017

Seven ships take berth at port Qasim even ships C.V X-Press Makalu, C.V UASC Al-Khor, C.V Northern Movement, M.V Ruining-2, M.T PVT Athina, M.T Eco Galaxy and M.T Krui Beke carrying containers, 40,008 tonnes Coal, 70,775 tonnes Furnace oil and 11,097 tonnes LPG were allotted berths at Qasim International Container Terminal, Multi Purpose Terminal, FOTCO Oil Terminal, SSGC Terminal and Engro Vopak Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA). Meanwhile another chemicals carrier Saeh Estella also arrived at outer anchorage of Port Qasim during the same day. Sixty five percent berth occupancy was reported at the port on Tuesday where a total of eleven ships namely X-Press Makalu, UASC Al-Khor, Northern Movement, Ruining-2, MG Earth, Maran Gas Asclepius, Eco Galaxy, Krui Beke, IVY Galaxy, Grand Ace-5 and PVT Athina are currently occupying berths to load/offload Containers, Coal, Canola seeds, LNG, LPG, Edible oil and Furnace oil respectively. –CB Report

european ports make $893 billion fund plea sion Project of BPCL that helped the port to handle 15 MMTPA. The full potential of the project will be realised from FY19 onwards, with the POL traffic touching 17 MMTPA. Likewise, the container traffic registered 13 per cent growth at five lakh TEUS and it is set to touch 5.5 lakh TEUS by the end of the current fiscal, he said, adding that ICTT in August hosted more than 1,000 mainline vessels since its inception in 2011, connecting Kochi with international ports. Asked whether GST implementation impacted cargo traffic, Ramana said it has helped increase throughput by resolving the long-standing issues at Walayar Check Post permanently, as the new tax regime promotes free inter-state movement. –CB Report

WASHINGTON

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he European Sea Ports Organisation (ESPO) in a coalition of thirty European transport bodies has asked the EU for renewed infrastructure funding. Campaign signatories included not only ESPO, which lobbies for European Seaports interests, but also the Federation of European Port Operators and Private Terminals (FEPORT). Signatory organisations say they need continued Connecting Europe Facility (CEF) funds for the next EU Sinancial framework period, from 2021-2028. Completion of the core network, which requires 83 of the main European ports to be fully connected with rail and road links, is at risk due to insufSicient funding, they said. This is because the current CEF transport budget has been

fully used. What’s more, demand for CEF funds is in many cases more than 2.5 times the available resources, the organisations said in a leaSlet. The EU in 2013 established the CEF funding programme to create a trans-European transport network (TEN-T) which includes seaports, for example by funding low-emissions shipping fuels. This has supported the construction of a new railway in Bremen Port, as well as Port of Helsinki’s automated mooring system. To qualify, the ports must handle at least 1% of the EU’s total throughput. ESPO’s Secretary General Isabelle Ryckbost, said: “We are very pleased to see that 30 transport organisations, covering all modes and nodes, service providers, users and cargo owners are supporting this plea for a strong Sinancial support for the completion of the TEN-T network. “EUR750 billion (US$893 billion) is

needed to complete the TEN-T core network. “We all know that transport projects with a high societal return do not always generate the necessary return on investment. “We also believe that CEF support is the best guarantee to deliver high EU added value and responsible grant management.” “Ports face a continual challenge to invest in long-lived port infrastructure. “Even where such investments provide high added value and generate substantial economic returns, they often have low Sinancial returns for the port authority. ESPO’s Chairman, Eamonn O‘Reilly said: “In the context of the review of the Connecting Europe Facility, ESPO will continue to make the case for continued and increased Sinancial support in a variety of forms. Grants are an essential component of this.” Meanwhile, Visakhapatnam Port Trust has launched a massive beautiSi-

cation operation at a cost of 1.69 crore to give a new look to its surroundings. Buoyed by its ranking as the second cleanest among all the 12 major ports by an independent agency after Haldia Dock in May, the port directed all the departments and its users to not only maintain a clean appearance but also further improve its look with a beautiSication drive. “Cleanliness is not a one-day affair. We have to inculcate the culture of cleanliness in our dayto-day life,” Visakhapatnam Port Chairman M.T. Krishna Babu told The Hindu. The port is taking up several activities during the Swachch Bharat Abhiyan being conducted from September 15 to October 2. The port is spending 2,500 crore mostly through PPP investors to enhance its capacity from 93 million tonne to 125 million tonne. An international consultant is also being appointed to monitor the progress of various pollution-control programmes.

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Ashar Haleem elected Central Chairman of APCNGA Wednesday October 11, 2017

Business

ISLAMABAD: Noted businessman of the energy sector Ashar Haleem Qureshi has been elected unopposed as Chairman of the All Pakistan CNG Association (APCNGA) for the year 2017-18. Qureshi hails from Rawalpindi and he has been working in oil and gas sector for the last twenty years. According toy a statement issued here on Monday, Samir Najmul of Karachi has been Senior Vice Chairman of the CNG body while Syed Fiaz Gillani of Multan has been elected as Central Vice Chairman of the APCNGA.

‘cpec – a masterpiece of pak-china relations’ ISLAMABAD

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inister for Planning and Development Ahsan Iqbal Monday said that China Pakistan Economic Corridor (CPEC), a masterpiece of ties between the two countries, was meant to connect the regional nations. “The CPEC is not against any country but is aimed at promoting regional trade, development and prosperity,” he said while addressing a luncheon ceremony held here in honour of outgoing Ambassador of China to Pakistan Sun Weidong. Ahsan Iqbal, who is also Minister for Interior, said those, who were

IrSA releases 134,200 cusecs water ISLAMABAD

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opposing the CPEC, wanted Pakistan as a fragile economy. He said the CPEC was playing a key role in overcoming energy crisis in Pakistan, besides investment and new technologies were coming to

oLMt modern, aﬀordable transport for people

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he Indus River System Authority (IRSA) released 134,200 cusecs water from various rim stations with inflow of 78,700 cusecs. According to the data released by IRSA, water level in the Indus River at Tarbela Dam was 1489.87 feet, which was 109.87 feet higher than its dead level of 1380 feet. Water inflow in the dam was recorded as 45,900 cusecs and outflow 70,000 cusecs. The water level in the Jhelum River at Mangla Dam was 1191.60 feet.

the country because of it. The minister said the CPEC would end sense of deprivation in Balochistan while the Gwadar port would play a key role in the development and prosperity not only of

Pakistan but also of the region. He said during the tenure of Ambassador Weidong in Pakistan, the CPEC project became a reality. Pakistan and China would foil all the attempts being made by the opponents of the project, who were criticizing it without realizing its importance for the region as well as the world. The minister said it was quite encouraging that all the projects under the CPEC, which would help meet energy and infrastructure challenges being faced by Pakistan, were nearing completion. The Chinese ambassador lauded the leadership qualities of Ahsan Iqbal and said that his efforts to execute different projects under the CPEC as Minister for Planning and Development were unforgettable.

O LAHORE

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range Line Metro Train (OLMT) is comfortable, modern and affordable transport for common people and almost 75.3 percent civil work of the project has so far been completed. Sources of steering committee for Lahore Orange Line Metro Train Project (OLMT) disclosed this here on Monday. A total of 27 trains will be operated under the OLMT and each train would consist of Sive car-

riages. Sources revealed that every compartment of the train is 20 meters long with 60 seats and travel capacity of 200 passengers. Separate seats have been reserved for elderly, disabled and women in the carriages. A public address system has also been installed in the train for announcing the name of next station after every stopover. Sources said that an energy-saving air-conditioning system suitable for the constant high summer temperature in Pakistan has been designed and installed in the train. Chinese contractor CR-NORINCO

has issued schedule for the arrival of locomotives for the train in Lahore, sources added. As many as 23 train sets would arrive Lahore by the end of this year and coaches for all the 27 trains would be available in Lahore by the mid of March 2018. It is pertinent to mention here that progress on package-I from Dera Gujjaran, G.T.Road to Chauburji was 86.7 per cent, on package-II from Chaburji to Ali Town was 56.3 per cent, on Depot near Dera Gujran was 80.1 per cent while on Stabling Yard near Ali Town it was 77.3 per cent.

IcrA, pccc sign Mou to address cotton problems MULTAN

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he International Cotton Researchers Association (ICRA) signed a memorandum of understanding (MoU) with Pakistan Central Cotton Committee (PCCC) here Monday for exchanging research information between Pakistani scientists and those from the rest of the world.The ICRA is a subsidiary of the International Cotton Advisory Committee (ICAC). Dr Michel Fok, the chairman of ICRA, signed the MoU on behalf of the ICRA, while Cotton Commissioner and Vice President of PCCC Dr Khalid Abdullah signed it from the government of Pakistan side, at the Central Cotton Research Institute (CCRI) Multan. Dr Michel Fok said on the occasion that the ICRA would find some possible ways to address Pakistan’s cotton related problems by virtue of cooperation and mutual exchange of information. Dr Khalid Abdullah, who is also a member of the 15-member ICRA executive committee, termed it a good opportunity to find new ways to fight challenges confronting cotton in Pakistan. Dr Michel Fok also inaugurated the ICRA’s first secretariat in Pakistan at PCCC headquarters in Multan with Dr Fayyaz Ahmad, the head of plant physiology and chemistry wing of CCRI Multan.

NAB court to indict Nawaz Sharif, Maryam on 13th ISLAMABAD

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aryam Nawaz, the daughter of deposed prime minister Nawaz Sharif, showed up before an accountability court today to face a National Accountability Bureau (NAB) reference in connection with the Sharif family’s London properties. Maryam reached the court amid

tight security and extensive protocol. She was accompanied by ministers, and senior PML-N leaders. Judge Muhammad Bashir supplied her a copy of the reference along with relevant material to peruse and called a short recess until her spouse, retired Captain Muhammad Safdar, was produced before him by the NAB. She furnished a surety bond of Rs5 million to secure bail in the case. The court also granted bail to Safdar against a surety bond of Rs5 million

and ordered his release. He was taken into custody by NAB shorty after he landed at Benazir Bhutto International Airport along with his wife Maryam in the early hours of Monday morning. The judge rejected the request of Nawaz Sharif’s counsel to adjourn the cases for two weeks so that his client could return from London and appear before it. He set Oct 13 for his, Maryam and Safdar’s indictment. Advocate Khawaja Harris told the judge that Sharif couldn’t ap-

pear because he is in London, taking care of his ailing wife Kulsoom Nawaz. The court declared Hussain and Hassan absconders after their perpetual absence from proceedings. The NAB prosecutor requested the judge to initiate proceedings to declare the absconding accused as proclaimed offenders and order attachment of their properties, arguing that they did not want to join proceedings. Maryam and her spouse returned to Pakistan to appear in ac-

countability court in connection with a reference related to the Sharif family’s Slats in a posh London neighbuorhood. On Oct 2, the court had issued non-bailable warrants for Hussain, Hassan Nawaz, and Safdar for failing to appear before it. It, however, had not issued non-bailable warrants for Maryam and repeated her bailable arrest warrants after Nawaz Sharif’s lawyer assured it that she and her husband would join the proceedings on Oct 9.

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Iran keen to boost trade ties with Pakistan TEHRAN: Iran’s trade with Austria stood at $404 million in 2016, Behrouz Hassan Olfat, director of Europe and Americas Department at the Trade Promotion Organization of Iran, announced. According to the Islamic Republic of Iran Customs Administration, trade between the two countries dropped from $818 million in the ﬁscal 2011-2 to $312 million in 2014-15 due to international sanctions imposed on Iran over its nuclear program. Figures show trade during the four years and four months to July 22, 2015, totaled $2.2 billion, 98.2% of which pertain to Iran’s imports from Austria. Among the major Iranian products exported to the European country are agro products, herbal medicine, handmade carpets and rugs. Iran mainly imports industrial, electrical and computer equipment, home appliances, receivers and transmitters, rail equipment, chemicals and medical equipment from Austria.

LccI to explore new markets for pak goods LAHORE

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xploration of new markets for Pakistani merchandise, reduction in cost of doing business, water scarcity and strong liaison between public and private sector would be the priority areas for the Lahore Chamber of Commerce & Industry in the year to come. This was stated by newlyelected President of the Lahore Chamber of Commerce & Industry Malik Tahir Javed, Senior Vice President Khawaja Khawar Rasheed and Vice President Muhammad Nasir Hameed Khan while speaking at the LCCI Annual General Meeting (AGM). LCCI outgoing President Abdul Basit, Senior Vice President Amjad Ali Jawa, Vice President Muhammad Nasir Hameed Khan, former LCCI Presidents, outgoing and incoming Executive Commit-

tee and a large number of LCCI members were also present. Newlyelected President Malik Tahir Javed said that some areas were needed to be focused particularly to boost economy of the country. He said that the LCCI would play a proactive role as a think-tank and will give reality-based suggestion to the government. He said that water scarcity was one of the most concerning areas that must be focused on war footing. Water is directly linked to the national economy as it generates cheaper electricity and enhances agri-production, not only to feed the people but to give raw materials, like cotton, to the industry. He said the country had no dearth of water but confronting lack of storage issue. He said that 35 million acre foot of water wasted to the sea annually. He said to give a relief to the exportoriented sectors.

Wednesday October 11, 2017

Chambers

rccI to explore new avenues of growth & progress: Zahid Latif RAWALPINDI

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very sector of the economy needs to be boosted in order to ensure smooth growth of the economy. Our focus will be maximum utilization of our potential for elevating the status of our business community with in the country and across the borders as well. This was stated by Zahid Latif Khan newly elected president of the Rawalpindi Chamber of Commerce and Industry (RCCI) while talking to different trade delegations who congratulated him on assuming ofSice. He said that RCCI prime objective was to explore the existing trade potential of all viable sectors and to dig out new avenues of growth and progress for the region. He said that RCCI will approach, ministries, government departments, FBR and other for early resolution of the issues faced by business community. He demanded to the government that business community should be taken on board in the policy making process. He was of the view that in this way maxi-

mum positive ramiSication could be achieved in the economy. Zahid Latif Khan also thanked group leaders, former presidents and traders for showing their confidence in him and vowed that he and his team would take every possible step to fulfill the confidence and trust of the seniors and no

stone will be left unturned for the betterment of the business community of the region. Newly elected Senior Vice President Nasir Mirza and Vice President Khalid Farooq Qazi also expressed the same feelings and vowed that they will work as a team. Outgoing president Raja Amer

FpccI greets all newly elected oﬃce bearers LAHORE

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resident Federation of Pakistan Chamber of Commerce and Industry Zubair Tufail on Saturday greeted the all newly elected ofSice bearers of all chambers across the country. Talking to SAARC Chamber Vice President and chairman United Business Group (UBG) Iftikhar Ali Malik who hosted a luncheon in honour of Zubair at his residence declared that the Founder Group under the umbrella of UBG had already won the seats with clear majority across the country. He said that all UBG candidates after hot contest with rivals clinched all seats of Presidents, Senior Vice Presidents and Vice Presidents besides executive committees, mem-

bers in regional chamber elections throughout Pakistan as our candidates were highly qualiSied, young and dedicated enjoying the highest degree of integrity. “Our rivals could not Sind good candidates against our high proSile candidates as a result major chunk of important seats were won unopposed by UBG”, he added. Iftikhar Ali Malik further said our magniSicent victory would put us in leading position in the forthcoming annual election of the Federation of Pakistan Chamber of Commerce and Industry, an apex body in Pakistan and he was much conSidence of making sweep in federation elections again. He urged the government to focus on arresting the downward graph of dwindling export on urgent basis and provide package of incentives to boost exports. Iftikhar Ali Malik further said the top leadership

of UBG always Sirmly believed in the rule of law, promotion and strengthening of democracy and upholding the glory of constitutions. He said all decisions were taken with consensus in the interest of the business community and always all out efforts were made to help address the genuine grievances being confronted by the traders. He said the group always focused on attaining economic prosperity of the country through advocating the just cause of the traders. “UBG will continue to follow it 30 points agenda mainly aimed at accelerating the pace of economic activities and expedite the process of rapid industrialization besides bringing green revolution in the country which he added will ultimately help improve the socio economic conditions of the poor strata of society especially farmers and growers”, he added.

Iqbal congratulated the new ofSice bearers and expressed hope that new team will continue the policies and carry the RCCI’s values. Business community of the region is hopeful that Zahid Latif Khan will continue to explore new avenues for promotion of business and industrial activities in the region.

Abbasi elected president of the IwccI nown entrepreneur Reem Abbasi has been elected unopposed as President of the Islamabad Women Chamber of Commerce and Industry (IWCCI). Sofia Akhter has been elected as Senior Vice President while Munazza Arif has been voted as Vice President of IWCCI, said a press release here on Tuesday. Those who were elected to the Executive Committee of the IWCCI include Hajrah Kashif, Neelum Nayab, Shahida Mazhar, Musarrat Jabeen, Rubina Lahooti, and Nosheen Ali. Annual General Meeting of the IWCCI was held with chambers outgoing president in the chair. During the meeting, keeping in view her services, Reem Abbasi was elected as President of the IWCCI. –CB Report

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Kohat SWH earns Rs111.50m as revenue during 1st-Quarter KOHAT: The Customs State Ware House (SWH) Kohat collected Rs111.50million of revenue during the 1st-Quarter (July to September) Financial Year 2017-18. According to details given by Deputy Collector Fazli Shakoor that, during above said period, SWH Kohat showed good performance. During said period, it earned Rs15.90million as Customs Duty (CD) while SWH generated Rs1.37million of miscellaneous duties and taxes and surcharges.

Wednesday, October 11, 2017

CUSTOMS BULLETIN

Mcc peshawar generates rs5174.02m in 1Q by excelling its yesteryear’s collection PESHAWAR NADIr khAN

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he Modal Customs Collectorate Peshawar collected Rs5174.02million in Sirst three months of the new Sinancial year by surpassing its target against the previous showing difference of 24 percent. The statistics say that, under the head of custom duty, the customs house generated Rs1923million in the last three months against Rs1593.92million of the previous year, having a difference of Rs329.40million while the difference was 20.67 percent. Under the head of Sale Tax on Imports, the house received Rs1151.89million compared to Rs943.99million of the previous year 2016 quarter report. The difference in rupees recorded was Rs208.29million whereas the difference was 22.02 percent. In term of Sales Tax as Federal Excise Duty on palm oil, the house collected Rs593.60million in the Sirst three months of Financial Year 2017 against Rs313.88million of the previous year. The difference noticed was Rs279.72million while the difference recorded was

Rs89.12million. Likewise under the head of Sales Tax’s value addition on commercial importers, the house got Rs162.88million in the last three months against Rs140.36million of the previous quarter of Financial

Year 2016. The difference recorded was 16.04 percent while the difference recorded was Rs22.52million. Similarly in term of Federal Excise Duty on Import, the house generated Rs60.53million against Rs35.05million of the previous Sinancial year’s

quarter. The difference recorded was Rs25.8million whereas the deference noticed was 72.70 percent. Under the head of Withholding Tax, the house received Rs1281.80million against Rs1089million of the previous Sinancial year’s three months’ collection.

The difference recorded was 17.68 percent while the difference was Rs192.56million. The overall performance of the house was much satisfactory compared to the previous year as there is a remarkable gap almost in every segment of collection.

Modern techniques introduced under public/private partnership plan ISLAMABAD

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akistan Industrial and Technical Assistance Centre (PITAC) has introduced modern techniques in order to improve productivity of industrial units in the country under a plan launched to enhance public and private partnership. The PITAC, working under Ministry of Industries and Production,

also provided organized and nationwide programme for training managerial and technical personnel. Specifying the steps taken by government to enhance public and private partnership, ofSicial sources on Monday said six companies have been established in collaboration with private sector and are working on public private partnership basis to provide trainings, technical know-how and facilitate private sector in relevant Sields. Out of these, four companies are registered under section 32 of Companies Ordinance, 1984 on Public-Private Partnership basis and Joint

Venture Agreement made between the government and private investor partners including Khadi Crafts Development Company, Multan, Leather Crafts Development Company, Multan, Spun Yarn Research and Development Company, Multan and Southern Punjab Embroidery Industries, Multan. The sources said the other two Companies namely Aik Hunar Aik Nagar (AHAN), Lahore and Agro Food Processing (AFP), Multan are public sector companies registered under section 42 of the Companies Ordinance, 1984 with a mandate to facilitate and collaborate with

private sector. Different Memorandum of Understanding (MoUs) and agreements have been signed by Pakistan Institute of Management (PIM) with many private sector individuals and companies to offer better service to public. Moreover, the sources said in order to enhance public/private partnership in public service structure, six of Board members of Small and Medium Enterprises Development Authority (SMEDA) have been taken from public sector as ex-ofSicio members. Technology Up-gradation and Skill Development Company (TUSDEC), a wholly owned sub-

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sidiary of Pakistan Industrial Development Corporation (PIDC), has also been established to implement projects on basis of Public-Private Partnership at various locations in the country. The projects include Peshawar Light Engineering Centre (PLEC), Light Engineering Upgradation Centre for SMEs in Balochistan (LEUC) and supporting TVET Sector in Pakistan (Khyber Pakhtunkhwa (KPK) & Federally Administered Tribal Areas (FATA) and successfully trained 12000 men and women under this initiative where more than 150 private sector institutes were engaged for trainings.