Tuesday, 17 October 2017

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Karachi, Tue October 17, 2017

ISLAMABAD

TARIQ DERYA

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ariq Pasha, Chairman Federal Board of Revenue, asked the Director General Intelligence and Investigation and all the customs chief collectors to coordinate and make a joint presentation on the anti-smuggling strategy. The chairman also advised

the Chief Collector North Region, Sarwat Tahira Habib, to pursue the matter of adjustment of Rs4.00billion at the FBR level regarding the Safe City Project that needs to be resolved with the AGPR. The Chairman Federal Board of Revenue (FBR) desired to get all the updates regarding the anti-smuggling drive. The chairman directed the DG I&I to focus on the antimoney laundering cases. This was learnt from the minutes of the meeting of Chief Collector and DG I&I

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led by Chairman FBR and Zahid Khokhar, Member Customs of FBR, during a meeting.

The chairman FBR asked all the chief collectors that wherever Intellectual Property Rights (IPR) violations are detected and Model Customs Collectorates (MCCs) invoke provision of Section 15 of the Customs Act1969, information may be conveyed to the DG IPR to intimate to all the stakeholders the extent of FBR’s resolve in combating the IPR violations. The chairman further asked the member legal, all chief collectors, collectors and directors concerned to actively pursue all the cases pending in the courts of law.

ASO impounds 47 vehicles, seven NDP items valued at Rs88.19m during 1-Q

DG Valuation issues Valuation Ruling 1215/2017

DC Adjudication issues show cause notice to owner of NDP vehicle

NAB chairman announces to reopen corruption cases

About 46 cartons of cigarettes,32 sacks of Gutka seized by Hyderabad Customs

Following the instructions ofTariq Pasha, Chairman FBR the Customs staff deployed | SEE pAgE 02 |

DGValuation has revised the customs value of sauces/salad / /Mayonnaise/Mustard | SEE pAgE 03 |

Customs Adjudication DC issued show cause notice to the owner of NDP vehicle | SEE pAgE 04 |

NAB Chairman has decided to reopen one hundred closed cases | SEE pAgE 14 |

Customs I&I Hyderabad has impounded 46 Non-Duty-Paid cartons | SEE pAgE 16 |

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FST seeks reply on complaints filed by FBR employees Thuesday, October 17, 2017

Islamabad

ISLAMABAD: Federal Service Tribunal directed the Federal Board of Revenue to submit reply in cases of ‘special allowance’ and ‘implementation’ filed by employees of Federal Board of Revenue (FBR). FST bench comprising of Members Ishtiaq Ahmed and and Dr Nazir Saeed held hearing.

The bench heard arguments on case of special allowance filed by Muhammad Boota and cases filed by M Waheed, Anjum Rasheed, Sardar Ali and Muhammad Ferozuddin.

ASo impounds 47 vehicles, seven nDp items valued at Rs88.19 million

ISLAMABAD

ISLAMABAD

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TARIQ DERYA

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he Model Customs Collectorate Islamabad has assigned Rs456million Customs Duty collection target to the Air Freight Unit (AFU) Islamabad during Financial Year (FY) 2017-18 against the corresponding FY16-17. According to details given by sources of MCC Islamabad that the AFU has been allocated Rs3109million target of CD for FY17-18 while the AFU was earmarked Rs2653million target under the same head for FY16-17. During the 1st-Quarter (July to September) FY17-18, the AFU Islamabad was assigned revenue collection target of Rs488.87million while it was done Rs457.68million under the head of CD during the 1st-Quarter FY16-17. During the 1st-Q FY17-18, the AFU was allocated Rs31.19million high revenue collection target against the 1st-Q of previous financial year. The sources told CT that, during the month of September FY17-18, the AFU was earmarked revenue target of Rs154.77million as CD while it was done Rs143.27million revenue collection target under the same head for September FY16-17. The AFU was assigned Rs11.5million high revenue collection target during September FY17-18 of CD against the same period of corresponding FY16-17.

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he Anti-Smuggling Organization (ASO) Islamabad took into possession 47 offending vehicles and seven NonDuty-Paid (NDP) and various types of smuggling goods worth Rs88.19million during the 1stQuarter (July to September) Financial Year (FY) 2017-18.

According to details given by Shahid Jan, Acting Additional Collector Model Customs Collectorate (MCC) Islamabad, that, under the guidelines of Collector MCC Islamabad Dr. Saeed Khan Jadoon, the ASO Islamabad showed brilliant performance during above said period. The collectorate is developing a new strategy to make the performance of the ASO more effective during the next three quarters of FY17-18.

The additional collector told CT that, during the 1st-Quarter FY1718, the ASO impounded 47 offending vehicles valued at Rs51.90million whereas the Car Cell of the ASO took into possession nine NDP vehicles worth Rs14.86million. During said period, the ASO seized 22,077 yards of foreign origin fabric priced at Rs12.67million and the ASO did 54,369 kg of food grains valued at Rs8.08million.

Shahid said the ASO conSiscated 5,636 kg of tea priced at Rs1.74mil-

Afu allocated cD collection target of Rs456m against previous fY16-17

lion, 517 tyres and tubes worth Rs1.8million, 332 alloy rims valued at Rs0.25million, 7,494 kg of auto parts priced at Rs5.83million, 1,315 litre of Mobil oil worth Rs0.23million, 2,690 cartons of fake cigarettes valued at Rs1.63million, 6,349 electronic items priced at Rs15.23million, 324 blankets worth Rs0.102million, 2,472 toys valued at Rs0.421million, various kinds of medicines priced at Rs0.0084mil-

lion, 56 kg of Gutka valued at Rs0.0117million while the ASO Islamabad seized other miscellaneous smuggling goods worth Rs25.038million. Above said smuggling items were conSiscated by the ASO Islamabad during the 1st-Quarter Financial Year 2017-18.

Meanwhile, The Model Customs Collectorate (MCC) Islamabad showed 103.14% increase against the assigned revenue collection tar-

get of all duties and taxes for September Financial Year (FY) 2017-18.

The collectorate has geared up its efforts to chase the allocated target for 2nd Quarter (October to December) FY17-18. The MCC Islamabad lost Rs156.00million revenue due to increase of duties and taxes in Sales Tax on foreign origin fabric. The collectorate faced a loss of Rs1160million on value of import of fabric during 1st-Quarter FY17-18.

Ihc relists three customs references

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ISLAMABAD

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division bench of the Islamabad High Court (IHC) relisted three customs references Siled against M/s Venus Pakistan (Private) Limited.

A division bench of the IHC comprising Justice Shaukat Aziz Siddiqui and Justice Mohsin Akhtar Kayani heard the cases and relisted for further proceedings on them. The

bench was likely to hear the cases in coming week along with other cases carrying similar matter pertaining to the customs ofSice. All of three references were Siled by Collector of Customs Islamabad. These cases were Siled during 2012, 2013 and 2017, receptively.

The bench also dated in ofSice the hearing of another tax matter Siled

by M/s Pakistan Telecommunication Company Limited.

M/s Pakistan Telecommunication Company Limited had Siled the

case seeking restrictions for Large Taxpayers Unit, Islamabad about recovering outstanding tax amount.

The appellant had also sought from court to nullify the LTU order carrying the claim about outstanding tax amount. Federal Board of Revenue (FBR), ofSicers of LTU including commissioner Inland Revenue, additional commissioner Inland Revenue, commissioner Inland Revenue (Appeals) and Appellate Tribunal Inland Revenue were made respondent in the case.

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Appraisement East generates Rs 7.978m revenue in October KARACHI: Customs Collectorate of Appraisement East has generated Rs 7.978 million under the head of customs duty, sales tax, income tax and federal exercise duty during first five days of October. Sources told Customs Today that Customs Appraisement East collected Rs 2.18 million under the head of customs duty, Rs 3.148 million under the head of sales tax, Rs 1.2 million under the head of income tax and Rs 1.45 million as federal excise duty during five days of the current month. It is necessary to mention here that the Customs Collectorate of Appraisement East generated Rs 31.432 million under the head of customs duty, sales tax, income tax and federal exercise duty during 30 days of September.

pcA detects two cases of tax evasion worth Rs 7.23m in five days of oct

Tuesday October 17, 2017

Karachi

Dg Valuation issues Valuation Ruling 1215/2017

KARACHI

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irectorate of Post Clearance Audit (PCA) Director Nadeem Memon has shown excellent performance and detected two new cases of tax evasions involving Rs 7.23 million in first five days of October. Sources told Customs Today that Directorate of Post Clearance Audit, headed by Director Nadeem Memon, uncovered cases pertaining to short payment of customs duty and sales tax and withholding tax.

In some cases, inadmissible concessions in additional sales tax, federal excise duty and income tax were availed. The directorate served one contravention report and one observation during the first five days of October involving total duty and taxes of Rs 7.23 million.

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Adjudication-II issues show case to m/s RTf fertilizer KARACHI

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he Collectorate of Customs Adjudication-II has issued a showcause notice against M/s RTF Fertilizer for allegedly causing a loss of Rs 2.1 million to the national exchequer by way of mis-declaration of classification, it is learnt. Sources told Customs Today that during scrutiny of the import data it was revealed that M/s RTF fertilizer imported a consignment of different agriculture chemicals and cleared the same by mis-declaring the classification under Pakistan Custom Tariff 2978.5478 from Customs Port Qasim through their clearing agent namely M/s Bawera and Co. The company availed undue/ inadmissible benefit/ exemption of sales tax vide S. No. 42, whereas the imported goods are correctly classifiable under PCT 2975.4772.

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he Directorate General of Customs Valuation has revised the customs value of sauces/salad / /Mayonnaise/Mustard and Tomato Ketch up vide Valuation Ruling No 1215/2017 under Section 25-A of the Customs Act, 1969. Customs values of Sauces / Salad dressing/ Mayonnaise / Mustard and Tomato ketchup were earlier determined through Valuation Ruling No.952/2016 dated 13.10.2016. There was representation from commercial importer for determination of customs value of subject items a fresh.

Commercial importer claimed that the prices of Sauces / Salad Dressing / Mayonnaise / Mustard and Tomato Ketchup are lower in the International markets than the customs value determined in the existing valuation ruling, which is over one year old, hence it is required to be revised in the light of honorable High Court of Sind, at Karachi’s orders dated 10.11.2015 in Constitutional Petition No. D-6918/2015.

Since 90 days have passed and representations were received from commercial importer regarding values determined in the valuation ruling dated 13.10.2016, hence an exercise was initiated to re-determine the values of subject items.

Meetings were held on 25-092017 and 03-10-2017, with stake-

holders of subject items. The representatives of CC Appraisement (West) Karachi also participated in the meetings. The commercial orders requested that the said valuation ruling may be reviewed in the light of prevailing national market prices.

Meanwhile, Directorate 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 depart-

commercial importer claimed that the prices of Sauces / Salad Dressing / mayonnaise / mustard and Tomato ketchup are lower in the International markets than the customs value determined in the existing valuation ruling

court extends remand of suspect hSD oil smuggler

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KARACHI

m B RAnA

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he Customs Court Judge Syed Faiz Rasool Rashdi extended physical remand of the suspect namely Abdul Samad son of Muhammad Sharif and sent him back to customs department, who was booked in a case of attempting to smuggle non-duty paid 20,000 liters Iranian High Speed Diesel (HSD oil) valuing Rs15,40,000.

During the hearing, investigation officer produced the above mentioned suspect before the court and informed that on a credible information, during checking/ surveillance, intercepted a suspected Hino trailer bearing registration number TLR-071 along with container at 7 am in presence of witnesses, which was heading towards, Karachi from Hub Chowki, upon checking of the container loaded on the trailer, approximately 20,000 liters Iranian

origin smuggled non-duty paid HSD Oil was found filled/ recovered from the concealed tank of the container loaded on said trailer. He submitted that prosecution needs further investigation from suspect, therefore, court may sent back to him on physical remand, after hearing, court sent back him to customs department on physical remand and directed investigation officer to produce him on next date of hearing along with progress report.

ment 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.

Appraisement East reshuffles 4 officers he Customs Appraisement East has reshuffled four Appraising officers within the collectorate with immediate effect. Ali Ansari has been posted at Examination (at the disposal of ADC-III) from Group-VI. Salman Bukhari has been moved to Group-VI from SAPT. Khurram Rafique has been posted at Group-V on joining and Mohammad Bilal has been assigned R&D & Group-I on joining.

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Farzana Younis Bukhari appeal put off into next date Tuesday October 17, 2017

Lahore

LAHORE: The appeal of Farzana Younis Bukhari, a resident of Sargodha has been adjourned till next date.

The refund case was filed before the Federal Tax Ombudsman (FTO) against Regional Tax Office (RTO) Sargodha. As per details, FTO Advisor Mian Munawar Ghafoor heard the complainant number 397-L/ IT (304) 1587/ 17 in which the counsel for the appellant argued that the RTO Sargodha has not released the refund to the appellant of from last two years. He said that the RTO Sargodha collected excessive tax from the appellant during the last two years. The company approached the officer concerned many times for issuance of refunds but the department did not pay the refunds after the passage of a reasonable time.

customs Tribunal accepts appeal filed by m/s Zahid Jee Textile mills LAHORE

SAJID nAwAZ

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ustoms Appellate Tribunal has accepted the appeal filed by the M/s Zahid Jee Textile Mills Limited against Collector, Customs House Multan and others.

Imran Tariq, Member Technical bench-II heard the arguments from both parties and passed the judgement that respondent failed to interpret case so the case has been decided in the favour of appellant.

As per brief facts of case was reported that Assistant Collector, DTRE, MCC Faisalabad are that M/s Zahid Jee Textile Mills Limited was got DTRE approval but the same importer exceed the limits which were allowed and up to the

customs Tribunal hears 12 cases he Customs Appellate Tribunal’s division bench-II (single and double), comprising Judicial Member Omer Arshad Hakeem and Member Technical Imran Tariq, heard 12 cases and adjourned all of them until the next hearing. Division bench-II heard case of Raaz Muhammad versus Directorate of Intelligence and Investigation Multan, Al Rehman Febrics versus Directorate of Intelligence and Investigation Faisalabad, Gogha Shahbaz versus Directorate of Intelligence and Investigation Faisalabad, Muhammad Umer versus Directorate of Intelligence and Investigation Multan.

Furthermore, division bench heard, Yasir Bashir versus Directorate of Intelligence and Investigation Faisalabad, Shakir Hussain versus Directorate of Intelligence and Investigation Faisalabad, Directorate of Intelligence and Investigation Faisalabad versus Shakoor, Directorate of Intelligence and Investigation Faisalabad versus Fakhar Abbas, Khadim Hussain Chandio versus Customs Multan. –CB Report

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time which were allowed. The importer was imported Polyster Staple Fiber through violating rules so Rs10323291 in the importer under the available laws. After the show cause notice adjudication authority heard the case and passed the Order-in-Original (ONO) that M/s Zahid Jee is liable to pay taxes and duties laved on him and also pay Rs 50000 in penalty. Being aggrieved from the order, appellant filed the case before the Customs Appellate Tribunal on the grounds that the utilization period of DTRE is not violated and the quantity also not exceeded from the given limits.

Adding more the impugned order not passed according to the facts of case so the order is liable to set aside. On the other side, the responded department denied all allegations and appeal for the rejection of case.

Dc Adjudication issues show cause notice to owner of nDp vehicle LAHORE

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ollectorate of Customs Adjudication Deputy Collector issued show cause notice to the owner of non-duty paid Toyota Crown car.

According to the details, Collectorate of Customs Preventive anti smuggling squad intercepted a Toyota Crown car bearing registration number plate NZ-388 (Islamabad) from opposite Hamid Latif Hospital Ferozpur Road Lahore. The person available on the driving seat, claimed ownership of the above said car and stated his name and address as Syed Zafar Abbas son of Syed Ghulam Hussain Shah resident of House No. 299, West Canal Bank Society Lahore. On demand, the said person failed to provide any documentary evidence showing the legal import or lawful

possession of the said car. The ASO team detained the vehicle in terms of section 2 (kk) of the Customs Act, 1969 for want of import documents and to probe further. Although the computerized data of registration mark NZ-388 (Islamabad) afSixed on the said vehicle revealed that it had been allotted to another Toyota Crown car, bearing chassis number GRS180-0002054, engine number

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4GR0003790, model 2003 and the owner name showing as Muhammad Zubair Saeed. Whereas during the course of investigation a notice vide letter no. C01/ASO-257/2017/2004 was also issued to the said owner. The PRAL data was also checked to conSirm the import of any vehicle having chassis number GRS-182-0013033 but no record was found against the detained Toyota Crown car.

ASo team attacked for seizing illegally fTo hears case filed by m/s Sheikh Traders imported goods, lodging fIRs he appeal of Al Shiekh Traders the ofSicer concerned many times for

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he Customs Anti-smuggling Organization (ASO) team were attacked for impounding illegally imported goods and articles near Masti Gate, sources told Customs Today here.

The sources said that customs ASO staff, during routine patrolling, intercepted a pickup of M/s Pindi Karwan Goods Forwarding Agency loaded with illegally imported goods and article. It was added when the customs team tried to search the pickup and demanded

legal import and clearance documents against the goods, eight to ten people attacked and assaulted the customs ofSicials and two custom sepoys, including Aslam Awan and Latif Anjum while in retaliation the men of forwarding agency were also seriously injured.

The sources conSirming the incident said that the agency men attacked the customs ofSicial to a settle grudge about the recently lodged two FIRs against the agency by the Customs ASO. –CB Report

Sargodha has been adjourned into next date. The refund case was Siled before the Federal Tax Ombudsman (FTO) against Regional Tax OfSice (RTO) Sargodha.

As per details, FTO Advisor Mian Munawar Ghafoor heard the complainant number FTO-LHR/336/2017 in which the counsel for the appellant argued that the RTO Sargodha has not released the refund to the appellant of the from last two years. He said that the RTO Sargodha collected excessive tax from the appellant during the last two years. The company approached

issuance of refunds but the department did not pay the refunds after the passage of a reasonable time. Finally, the appellant decided to approach the Federal Tax Ombudsman (FTO), seeking interference in this case. The counsel appealed the FTO advisor to direct the commissioner of RTO Sargodha to clear the refund claims.

The counsel further said that the delay in issuance of refunds put burden on the taxpayers, adding that the RTO should make audit of the cases and release the extra amount collected by it from the taxpayer. –CB Report

Adjournment motion moves in pA against smuggling of tyres

A LAHORE

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djournment motion against the smuggled tires in Lahore was submitted in the Punjab Assembly. Adjournment motion was submitted by Member Provincial Assembly (MPA) Waqas Hassn Moakil from Pakistan Muslim

League (Q).

According to the details, Waqas Hassn Moakil submitted the adjournment motion on the grounds that huge quantity of non duty paid tyers are selling in the Lahore Market. He argued that the sale of smuggled tyres are increasing due to the corruption of customs ofSicers.

Mentioning the markets where tires are selling Waqas mentioned

that non duty paid tyers are selling in Sabzazar, Ravi Road Truck adda,

Shah Alam Market and Railway Station where smuggled tyres are selling in bulks. The smuggling of tyres through Aghanistan route reached at Karachi Port where they are supplied to other parts of the country.

He mentioned in the adjournment motion that huge quantity of smuggled tyers sold out in the Lahore and citizens wants to get rid off from this practice.

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ISLAMABAD

TARIQ DERYA

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ll the stations of the Model Customs Collectorate Islamabad received Rs71.00million surplus revenue of Customs Duty during initial 11 days of October Financial Year 2017-18 against the same period of last Sinancial year’s collection. According to details explained by Additional Collector Shahid Jan that the customs stations, working under Model Customs Collectorate (MCC) Islamabad, comprise Islamabad Dry Port (IDP), Air Freight Unit (AFU), C. Bond, Unaccompanied Baggage (UAB), Accompanied Baggage (AB) and Rebate Refunds.

During initial 11 days of October FY17-18, the IDP earned Rs100.60million as Customs Duty (CD) while it did Rs64.41million of CD during the same period of FY16-17. The AFU generated Rs87.55million as CD during 11 days of October FY17-18 against the collection of Rs52.43million during the same period of FY16-17 of CD.

Tuesday, October 17, 2017

The Additional Collector told CT that, during above said period of FY17-18, the Bond Section collected Rs0.15million as CD whereas it did Rs0.79million during the same period of FY1617 under the head of CD. The UAB got Rs0.14million against Rs0.79million under the same head of corresponding period while AB did Rs0.70million of CD against Rs0.72million during 11 days of October in the last Financial Year 16-17 whereas Rebate Section paid rebate refunds to exporters worth Rs5.04million during Sirst 11 days of October FY17-18 against the paid rebate refunds of Rs5.00million during the same period FY16-17 under the head of CD. Meanwhile, The Federal Board of Revenue has assigned Rs3537.84million of all duties and taxes to the Model Customs Collectorate Islamabad for second quarter Financial Year 2017-18.

According to details given by Collector Dr. Saeed Khan Jadoon of the Model Customs Collectorate (MCC) Islamabad that Customs Collectorate of Islamabad is expected to meet its allocated revenue collection targets under all the heads during 2nd Quarter (October to December) FY17-

18 as it has already exceeded the revenue collection target during the 1st Quarter of FY17-18.

The Islamabad Collectorate has been earmarked the collection target of Rs1508.60million under the head of Customs Duty for 2nd Quarter FY1718 whereas it has been allocated the revenue collection target of Rs1204.39million of Sales Tax (ST) for above said period.

The FBR has assigned the collection of Rs117.29million to the Collector MCC Islamabad under the head of Federal Excise Duty (FED) for 2nd Quarter FY17-18 whereas it was earmarked the revenue target of Rs707.56million of Withholding Tax (WHT) for 2nd Quarter. The Model Customs Collectorate Islamabad was allocated extra revenue collection of Rs289.07million as all duties and taxes for 1st Quarter (July to September) Financial Year 2017-18 against 1st Quarter of corresponding FY16-17. The FBR assigned the target of Rs3118.07million to the collectorate under all the heads for July to September FY17-18 while it was done the revenue target of Rs2829.00million under the same head for the same period of FY16-17.

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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

pressure on rupee

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he corporate and export sectors of the country as well as international financial institutions have been pressuring the government for the last couple of years to curtail rupee value. However, Finance Minister Ishaq Dar has brushed aside any chances of devaluation and successfully maintained the value at certain level. The foreign exchange reserves held by the State Bank of Pakistan were nearly $20.2 billion at the start of the current financial year which it maintained during the first quarter. Rejecting panic calls from various sides, the finance minister believes devaluation will further aggravate the situation as it happened in the past on various occasions. The economic history shows devaluation brought windfall for a section of the business community, but slowed down overall economic activities across the country.The foreign exchange reserves plunged to $3.4 billion during 200708 and the government devalued the currency by 28 percent and raised import tariff up to 50 percent on a host of products in panic. However, the move stressed the economy further and effects had been lasted for several years. The economic situation is nearly the same as was a decade ago and the similar kind of remedy will only aggravate the malaise. The exports of the country are dwindling but devaluation of the rupee should not be the only option before the government to increase exports or resolve the balance of payment problem. The method failed 10 years ago cannot guarantee success this time as the government had to get $7.6billion loan from the International Monetary Fund to resolve the balance of payment problem.It is easy to get loan, but difficult to pay it back. According to economists, various strings are always attached with foreign loans which slow down the growth rate for several years. The experts who had advised the government in 2008 and 2011 for devaluation and higher import duties are again recommending the same method and it will simply not work. What the government has to do is to stimulate industrial sector and facilitate the business community to enhance exports. Devaluation of rupee will not only increase debt servicing but also cost of production and the Pakistani products will not be able to compete in the international markets.

Increase in consumer confidence Index A

LAHORE

DR AfTAB AfZAL

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ccording to reports prepared by international finance agencies and others, Pakistan has emerged as the third largest retail market in the world and its size of the middle class will cross the total population of various European nations. A consumer confidence survey suggests the consumers’ confidence on Pakistan’s economy has increased and a State Bank statement also claimed that the overall Consumer Confidence Index has increased by 5.07 percent as compared to the situation three months ago.

Economists see improvement

in consumer confidence on the basis of better economic conditions. The State Bank holds a survey after every two months to ascertain the current and future economic conditions, future trends in inflation, interest rates, unemployment, and household income.

The bank deems monitoring and collection of information necessary to formulate monetary policies. Taking cue from the reports issued by the central bank, it is up to the policymakers to take proactive approach to streamline the economy.

According to Bloomberg website, income of various groups have turned the nation into the world’s fastest

growing retail market and it is expected to expand by 8.2 percent per annum till 2021.

The size of the middle class population is also expected to surpass the total population of Britain, Italy and many other developed nations.

The security situation of the country is also improving, economy has been expanded and purchasing power of individuals has increased due to cheap prices of consumer goods.

Almost two-third of the population is below the age of 30 and burgeoning youth and their freewheeling attitude toward rising income has been working as a driving force to push up the retail sector. Various foreign

brands and products are entering Pakistan and the retail stores are expected to increase by 50 percent to one million outlets in five years through 2021. The country has signed free trade agreements with various nations and it is hoped the import of foreign goods will create a healthy competition of consumer goods in Pakistan.

The industrial sector of the country will have to update itself in terms of business techniques and diversify products to stay and grow in the local and international markets. It is also necessary for the policymakers to look into the future possibilities and lead the nation to the right direction.

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FBR updates CREST system to facilitate taxpayers ISLAMABAD: Federal Board of Revenue (FBR) has updated Computerized Risk-based Evaluation of Sales Tax (CREST), a system that checks information in monthly returns, import, export data and cross matches for every registered person.

The CREST system, which has in-built capacity to verify the veracity of reply received from the registered person, was updated till October 2017.

The CREST system is designed for Sales Tax and is based on declarations and covers areas like purchases including input tax adjustment of buyers and suppliers. It also covers Zero-Rated Sales to registered person with non-active ATL or blacklisted or suspended Sales Tax Registration Numbers (STRNs) and Section 8B-exemption-claims against qualifying criteria per notification.

fIA, customs stop shipment at Jinnah Airport’s over duty evasion

Tuesday October 17, 2017

National

Additional collector Zahra issues notice against owner of nDp vehicle

KARACHI

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he Federal Investigation Agency’s (FIA) Anti-Corruption Circle (ACC), with the help of Customs authorities, raided the cargo terminal at the Jinnah International Airport and intercepted a shipment over charges evasion of duties and use of forged clearing documents. According to ACC Sindh Additional Director Ashfaq Alam, the FIA team conducted a raid on the cargo terminal (exports) at the airport and intercepted a shipment of an oil and gas surveying company. A chartered cargo plane was halted and the consignment confiscated through Customs authorities. M/s BGP (Pakistan) International, a Chinese oil and

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gas surveying company, imported four consignments of surveying equipment worth Rs1.577 billion in 2014 and 2015 against corporate guarantees. In the absence of corporate guarantees, M/s BGP (Pakistan) Ltd has to pay 26 per cent of duties. Corporate Guarantee is a facility extended to oil and gas surveying companies for importing their equipment without paying taxes with the condition that the same will be sent back within two years. He added that surveying equipment imported by M/s BGP (Pakistan) International was “meant to be re-exported by 2016 as per corporate guarantees”.

However, the company was re-exporting the equipment after the lapse of one year and presented bogus/forged corporate guarantee by manipulating its expiry date from two years to five years through their clearing agent, M/s International Moving & Trading Company.

LAHORE

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ollectorate of Customs Adjudication Additional Collector Zahra Haider has issued a show cause notice to the owner of non-duty paid Toyota Hilux Surf.

According to the details, Custom anti-smuggling squad received information that a non-duty paid Toyota Hilux Surf was plying in the city with registration no: LEF-08-3885.

Pursuant to this information, the customs staff of ASO intercepted the said Toyota Hilux Surf at Ring Road Interchange, Lahore. The person sitting on the driving seat identiSied himself as Muhammad Ajmal, a resident of Haroonabad, district Bahawalnagar, and claimed the ownership of the vehicle.

On demand, the owner failed to produce any document showing legal import or lawful possession of the vehicle. However, the owner requested the ofSicials to allow him some time for production of the requisite import documents. Therefore, the said vehicle was detained in terms of Section 2 (kk) of the Cus-

toms Act, 1969 for want of import documents and further investigations. While, MRA online data against the registration no: LEF 083885 was checked which revealed that the against this registration number having chassis number KZN

1859016019. Customs anti smuggling squad detained the vehicle and issued a show cause notice to the owner of the vehicle asking him to appear in person on 6th October alongwith relevant documents at Air Freight Unit of Allama International

Airport, Lahore otherwise ex-parte proceedings will take place.

It is necessary to mention here that Customs Adjudication has already expedited their efforts to conclude hearing of pending cases on priority basis.

customs Export issues show cause notices to cos KARACHI

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he Customs Exports has served three show cause notices on tax defaulters and tax evaders for recovery of dues during the six days of October.

Sources told Customs Today that Custom Exports issued notices to three companies, including M/s Nasir Traders, M/s Sabir and Sons and others. Source said that M/s Nasir Traders used wrong Pakistan Customs Tariff (PCT) headings to get a consignment of plastic items include fancy board, electric buttons and fan regulators cleared on September 2 and caused a loss of Rs 1.3 million to national kitty.

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 notice no: 220/2017 for paying the evaded amounts of tax and duty.

Meanwhile, the Customs Exports unearthed another tax evasion committed by M/s Sabir and Sons who got cleared a consignment of different

kinds of fabrics, latha, loan and others. 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 A W Leathers ( Abdul

Wahid Leathers) cleared a consignment of leathers items like Wallets, jackets and others 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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Senior Preventive officer Gul Muhammad retires Tuesday October 17, 2017

National Dr Sajid Arain assumes charge as Addl commissioner-IR

ISLAMABAD: Gul Muhammad, a Pakistan Customs Service officer of BS-16, has retired from the government service on attaining the age of superannuation.

The officer, last posted as Senior Preventive Officer at Model Customs Collectorate (Preventive), Karachi, will stand retired from the government service on July 5. Meanwhile, ISLAMABAD: Ghulam Ishaq Kiyani, a Pakistan Customs Service officer of BS-17, is going to retire from the government service on attaining the age of superannuation.

muhammad mauz assumes charge as Assist commissioner-IR

ISLAMABAD

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ISLAMABAD

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r Sajid Hussain Arain, a BS-19 officer of Inland Revenue Service, has assumed the charge as Additional Commissioner-IR. The officer, in pursuance of Board’s Notification No. 2628IR-I/2017, dated 20.09.2017, relinquished the charge of the post of Additional Commissioner-IR, Regional Tax Office, Hyderabad with effect from September 26 and took the charge of the post of Additional Commissioner-IR, Corporate RTO, Karachi September 27. Meanwhile, Khalid Sultan, a BS-18 officer of Inland Revenue Service, has assumed the charge as Deputy Commissioner-IR. The officer, in pursuance of Board’s Notification No.2628-IR-I/2017 dated 20-092017, took the charge of the post of Deputy Commissioner-IR at Large Taxpayers Unit, Islamabad with effect from September 25.

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6 Appraising officers, 2 preventive officers reshuffled ix 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. –CB Report

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uhammad Mauz Zafar, an Inland Revenue Service ofSicer of BS-17), has assumed the charge as Assistant CommissionerIR. The ofSicer, in pursuance of Board’s NotiSication No.2628-IRI/2017 dated 20.09.2017 relinquished the charge of the post of Assistant Commissioner-IR, Large Taxpayers Unit, Islamabad with effect from September 25 and took the charge of the post of Assistant Commissioner-IR at Regional Tax OfSice Islamabad, on the same date.

Meanwhile, Adnan Ahmad Khan, a BS-19 ofSicer of Inland Revenue Service, has been transferred and posted as Commissioner (OPS) (Zone-I), Regional Tax OfSice-II, Lahore with im-

mediate effect and until further order. The ofSicer, presently posted as Commissioner-IR (OPS) (Okara Zone), Regional Tax OfSice II, Lahore,

was transferred and posted as Commissioner (OPS) (Zone-I), Regional Tax OfSice-II, Lahore with immediate effect and until further order. He was

asked to relinquish/assume charge, using online HRMS facility made available at all FBR major Sield ofSices or by using IJP login.

Appraisement west collects Rs 23.27m during two weeks of october C

KARACHI

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ustoms Collectorate of Appraisement West has generated Rs 23.27 million under the head of customs duty, sales tax, income tax and federal exercise duty during 14 days of October.

Sources told Customs Today that Customs Appraisement West collected Rs 7.85 million under the head of customs duty, Rs 5.89 million under the head of sales tax, Rs 5.55 million under the head of income tax and Rs 3.98 million as federal excise duty during Sirst 14 days of the current month of Siscal year 2017-18. It is necessary to mention here that Customs Collectorate of Appraisement West has generated Rs 9.564 million under the head of customs duty, sales tax, income tax and federal exercise duty during Sirst six days of

October Rs 3.16 million under the head of customs duty, Rs 2.344

million under the head of sales tax, Rs 2.16 million under the head of

income tax and Rs 1.90 million as federal excise duty (FED).

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Abdul Hameed takes charge as Secretary-IR ISLAMABAD: Abdul Hameed Anjum Arayn, a BS-19 officer of Inland Revenue Service, has assumed the charge as Secretary-IR. The officer, pursuing the Board’s Notification No. 2734-IR-I/2017, dated 20.09.2017, took the charge of the post of Secretary, Federal Board of Revenue (HQ), Islamabad with effect from September 25.

ABc elects Executive committee for 2017-18 KARACHI

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he American Business Council of Pakistan (ABC) Executive Committee has elected Kamran Nishat, Managing Director & CEO, Muller & Phipps Pakistan (Pvt.) Ltd., as President of ABC in its 33rd Annual General Meeting held at the Chamber, says an announcement. Syed Anis Ahmed, Managing Director, Abbott Laboratories (Pakistan) Ltd., has been elected Senior Vice President and Jarri Masood, Country General Manager, 3M Pakistan (Pvt.) Ltd. as Vice President. Others elected members of the ABC Executive Committee are: Farrokh K. Captain, Chairman & Managing Director, CaptainPQ Chemical Industries (Pvt.) Ltd.; Tasleemuddin Ahmed Batlay, Director, Colgate-Palmolive (Pakistan) Ltd.; Muhammad Iqbal Shekhani, CEO, Johan

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(Pvt.) Ltd./Culligan; Amin Mohammad Khowaja, General Manager & Executive Director, J.P. Morgan Pakistan (Pvt.) Ltd.; Usman Muneer, Managing Director, Mondelez Pakistan Ltd.; Ahmed Jamal Mir, Managing Director & CEO, Prestige Communications (Pvt.) Ltd./Grey; Nadeem Arshad Elahi, Managing Director & Country Head, TRG (Pvt.) Ltd., and Syed Iqbal Uddin Ghazi, Founder President, Sun Consulting (Pvt.) Ltd. Newly elected Office Bearers and Executive Committee members have taken office for a 12-month term from October 2nd. Members will remain committed to upholding ABC’s mission: ”To protect and promote the interests of US Investors in Pakistan; To encourage and stimulate new investments; To introduce and inculcate best practices; To strive to establish a level playing field in the country in order to promote the development of commerce between the USA and Pakistan”, it was further pointed out.

National

pIA suffered over Rs146 billion losses from 2013 to 2016, nA told

ASo impounds smuggling items & two offending vehicles in six days ISLAMABAD

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he Anti-Smuggling Organization (ASO) took into possession contraband goods and two offending vehicles worth Rs6.305million from 30th of September to 6th of October Financial Year (FY) 2017-18.

According to details given by Majid Hussain Gadd, Assistant Collector ASO, that Preventive Department showed considerable performance during above said period. During said period, the ASO impounded two offending vehicles valued at Rs2.00million while the ASO confiscated various smuggling goods priced at Rs4.305 million. During 30th of September to 6th of October FY17-18, the ASO seized 1,250 kilogram of foreign origin (F/O) sewing machines, 3,120 numbers of 52 mm F/O padlocks, 400 kg of power cable, 150 Numbers of LED TVs Slim 32”, nine numbers of LED TVs 20”, one LED TV 24” and 20 numbers of HD digital Receivers. He said the ASO also confiscated smuggling items during above said period, which comprise 2,088 kg of PU coated textile fabrics, 575 kg of PU coated non-woven fabrics.

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ISLAMABAD

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he Pakistan International Airlines (PIA) suffered an estimated loss of over Rs146 billion from 2013 to 2016, however a surge in losses is expected for the year 2016, the National Assembly was informed.

Answering a question by Shahida Rehmani, minister in-charge of Aviation Division in a written reply to the National Assembly said that during 2016 the estimated after tax loss was Rs36,953 million, in 2015 it was Rs32,529 million, in 2014 it was Rs32,222 million, while during 2013 national carrier suffered a loss of Rs44,322 million.

He said that after 2013 a decreasing trend in losses was witnessed. He said the losses declined by more than 27 per cent during 2014 and 2015. Though the Sinancial accounts have not been Sinalised yet, in 2016 a surge in losses is expected, due to acquiring of a new aircraft on lease and the payment of mark up on legacy loans. Answering another question, the minister said that a non-Slight worthy Airbus A310 bearing registration number

Tuesday October 17, 2017

AP-BAQ was sold for €47,500 to a museum in Leipzig, Germany with the approval of the former CEO Bernd Hildenbrand. He said that some discrepancies were found in the application of the PPRA rules 2004 in the sale of the aircraft and an internal inquiry of this matter was carried out in which Hildenbrand was found guilty of violations. Hildenbrand was terminated from the PIA. The FIA is reportedly conducting an inquiry into the said matter and its findings are awaited.

Answering a question by Dr NaSisa Shah that whether a Sri

Lankan aircraft was leased by the Pakistan International Airlines at higher rates, the minister said that PIA acquired one A330 aircraft from Sri Lankan Airlines for a period of six months from August 10, 2016 at a rate of USD 8,100 per block hour.

The offers were invited through competitive bidding process as per the PPRA Rules and the Sri Lankan Airlines aircraft was selected being the lowest evaluated bidder, meeting the tender requirements.

This matter is under inquiry by the FIA and so far no final report has been submitted.

motorcycle production rises 34.81pc in two months

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ISLAMABAD

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he motorcycles production in the country witnessed a sharp increase of 34.81 per cent during Sirst two months (July-August) of the year 2017-18 as compared to same period of last year.

The motorbikes production jumped to 324,824 units in July- August (2017-18) from the production of 240,937 units in same period of last year, according to latest data released by Pakistan Automotive Manufacturing Association (PAMA).

The breakup Sigures show that production of Honda motor bikes

increased by 36.9 during the corresponding period as it went up from 136,890 units in July-August (201617) to 187,410 units in same period of current year.

Similarly, the production of Yamaha two wheelers, also witnessed an increase of 130 per cent as it increased from 1334 units in Sirst two months of Siscal year 201617 to 3,068 units this year.

Suzuki manufactured 3,488 twowheelers during the period under review while during same period of last year, 3,137 units were produced.

The production of United Auto motorcycles also increased from 49,464 units to 66,574 units this year, thus

showing an increase of 34.6 per cent during the corresponding year. Road Prince motorcycles also increased its production during the period under review as its production went up from 34,325 units in Sirst two months of Siscal year 2016-17 to 43,395 units in same period of current Siscal year thus showing an increase of 24.4 per cent. In addition, production of Ravi motorcycles increased by 64 per cent as 5,122 units were manufactured during the period under review while during same period of last year 3,106 motorcycles were manufactured. The manufacturing of Hero bikes jumped from only 318 units in July-August

(2016-17) to 1,923 units in same period of current year, thus showing a surge of 504 per cent. Among threewheelers, Sohrab manufactured 940 units during July-August (2017-18) as compared to the production of 1,002 units in same period of last year. Likewise, Qinqqi three-wheelers also witnessed a decrease of 31 per cent as it declined to 3,418 units in first two months of 201718 from 4,995 units in same period of previous year. Sazgar threewheelers however, witness a slight increase of 3.25 per cent as its production went up from 3,717 units in July- August (2016-17) to 3,838 units this year.

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World Customs

Fuel tax increase considered for Akl transport

WELLINGTON: The government explored increasing fuel taxes to pay for roading projects, despite criticising Labour’s plan for a 10 cent regional fuel tax, official documents show.

Internal memos and briefings, released to the Green Party, showed Transport Minister Simon Bridges was told by his ministry how to close the funding gap in the Auckland transport budget.

It said the government was responsible for $1 billion to $2.1bn of the $5.9bn funding hole, with Auckland Council responsible for the remainder.

Tuesday October 17, 2017

customs officials seizes $12m in fake water bottles

customs chief relieves 38 officials in Boc reshuffle MANILA

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S Customs ofSicers have seized more than $12 million in counterfeit water bottles at the Port of Charleston. Local media outlets reported the federal agency said it had seized shipments of nearly 346,000 stainless steel water bottles found on Sive shipments from China this summer.

Customs officials did not release the name of the importer. But they said the bottles mimicked a popular design trademarked by S’Well Bottle Company. The merchandise was headed for a California-based drinkware distributor. The real manufacturer’s suggested retail price of the goods seized was calculated at more than $12.3 million.

Meanwhile, WASHINGTON: Border Patrol agents in Arizona arrested 10 drug mules Thursday af-

Thailandcambodia rail link a step closer s an agreement on railway transport materialises, Cambodia and Thailand are set to hold a ceremony early next year to celebrate the official opening of the line that will connect Phnom Penh and Bangkok, a Ministry of Public Works and Transport official said. The ceremony will be attended by Prime Minister Hun Sen and hiss Thai counterpart, Gen Prayut Chan-o-cha, said Ly Borin, an Under Secretary of State at the ministry. The new railway will link Phnom Penh and the Thai capital via Poipet town, which shares the border with Aranyaprathet district in Sa Kaeo. “By early next year we will organise the official connection of the railway line between Cambodia and Thailand, and premiers of both countries are scheduled to preside over the ceremony,” the Khmer Times. –CB Report

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ter finding around 40 pounds of marijuana in each person’s backpack, according to a Customs and Border Protection statement issued Friday. Wellton Station Border Patrol agents tracked the group Thursday morning as they smuggled the marijuana from Mexico into the U.S. near Gila Bend, Ariz.

The 10 Latino males appear to be teenagers and were later con-

firmed to be illegal immigrants.

Each male wore camouflage jackets and may have been hired by a drug cartel to carry the pot into the U.S. Border Patrol seized 390 pounds of marijuana, which is worth an estimated $135,000 on the street — nearly half of what the Customs and Border Protection agency caught on a typical day in 2016.

world Bank raises china’s growth forecast to 6.7% from 6.5%

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he World Bank has raised China’s growth forecast for 2017 from 6.5 per cent to 6.7 per cent and from 6.3 per cent to 6.4 per cent in 2018, authorities said on Thursday. In its latest East Asia and PaciSic Economic Update report, the World Bank pointed out the new forecast follows an improvement in forecast for the entire Asian region, which is expected to grow at 6.4 per cent in 2017 as compared to 6.2 per

cent that was announced in April, and of 6.2 per cent in 2018, as compared to 6.1 per cent six months ago.

According to the Washingtonbased institution, the upward revision of the forecast is partly owing to government measures to check overcapacity, credit expansion and restructuring of state corporations, and streamlining the country’s shadow banking sector, reports Efe news. –CB Report

ustoms Commissioner Isidro Lapeña removed eight port district collectors since Oct. 4: Elvira Cruz of Cebu; Romeo Rosales of San Fernando; Julius Premediles of Limay; Jose Naig of Iloilo; Carmelita Talusan of Subic; Divina Garrido of Legazpi; Halleck Valdez of Zamboanga; and Tomas Alcid of Aparri.

Lapeñas also removed 30 section chiefs from the Formal Entry Divisions of the Port of Manila and Manila International Container Port. They were reassigned to the provincial collection districts.

“No more tara, no tape, no gift, no pasalubong, no more benchmarking and we go by the correct valuation of the content of the shipment of our businessmen, our importers,” Lapeña said in a speech

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Monday. Lapeña appointed who he called “trusted people” from the Philippine Drug Enforcement Agency (PDEA), which he formerly headed, to Sill in the posts. PDEA ofSicials transferred to the Customs bureau include Melvin Estoque of the Account Management OfSice (PDEA-Central Visayas), Jeoffrey Tacio of the Import Assessment Service (PDEA-Ilocos Region), and Jacquelyn de Guzman of the Administration OfSice (PDEA-MIMAROPA).

Lapeña said they need to Sill 3,000 vacant positions. The bureau is under Sire over the unhampered entry of 6.4-billion worth of methampetamine hydrochloride (shabu) last May. A Senate investigation on the shipment unearthed a bribe system called tara in the bureau. Its former chief, Nicanor Faeldon, is in Senate custody for refusing to participate on the hearings. President Rodrigo Duterte appointed Lapeña to lead the bureau in August. The new Customs chief promised a ‘one-strike’ policy to clean the agency.

SA ports boost efficiency, productivity he African Ports Evolution show, to be held on 17 ad 18 October 2017 at the Durban ICC, has been selected by US-based Rajant to spotlight its Living Network infrastructure, geared to help port authorities meet challenges related to optimising cargo movements. Partnering with Duxbury Networking, the local high-technology distributor, Rajant will be demonstrating the viability of its wireless Kinetic Mesh Network technology at the show. Rajant’s mesh networks address the growing demands from port ofSicials, inspectors and employees as well as terminal

operators and shipping lines for proven, secure, future-proofed wireless communications solutions. With approximately 90% of the world’s trade carried by the international shipping industry, port efSiciency is key to the Slow of commodities and capital worldwide, says Teresa Huysamen, wireless business unit manager at Duxbury Networking.

She maintains that new-generation networking technology is needed at South Africa’s ports in order to introduce improved service offerings required to handle burgeoning cargo volumes with world-class efSiciency. –CB Report

Russia’s Yamal Lng to ship first two Lng cargoes in nov

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MOSCOW

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he Russian Yamal LNG project will ship the Sirst two cargoes of liqueSied natural gas in November, followed by another four in December, Russia’s customs service said on Tuesday. The Yamal LNG project is co-owned by local Russian

gas producer Novatek, as well as France’s Total, China’s CNPC and the Silk Road Fund.

Meanwhile, Russia will block access to websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said. Russian Sinancial authorities initially treated any sort of money issued by non-state approved insti-

tutions as illegal, saying they could be used to launder money. Later the authorities accepted the globally booming market of crypto-currencies but want to either control the turnover or to limit access to the market. “We cannot stand apart. We cannot give direct and easy access to such dubious instruments for retail (investors),” Shvetsov said, referring to households. Speaking at a con-

ference on Sinancial market derivatives, Shvetsov said the central bank sees rising interest in crypto-currencies because of high returns from buying into such instruments. He warned, however, that crypto-currencies gradually transform into high-yielding assets from being a mean of payment. Bitcoin, the most well-known virtual currency that emerged in mid-2010.

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Six ships take berth at Port Qasim KARACHI: Six ships namely C.V MSC Bruxeller, M.V W Pacific, M.T CTG Cobalt, M.T Bunga Alamanda, M.T YM Miranda and M.T Ellington carrying containers, Soya Bean Seeds, Palm oil and Chemicals arrived at outer anchorage of Port Qasim during last 24 hours, said a report issued by Port Qasim Authority (PQA) here on Monday. Berth occupancy was observed at the port at 53% on Sunday where a total of nine ships namely GH Zephyr, Da Hong Xia, Nireas, TRS Mandal, Ever Rich-6, Al-Jassasiya, Grand-Ace-II, Ginga Ocelot and Karachi were occupied PQA berths to load/offload Containers, General Cargo, Soya Bean Seeds, LPG, LNG, Palm oil and Furnace oil respectively.

Essar invests 830 cr. in Vizag port facility ssar Ports has invested 830 crore to upgrade and almost double the iron ore handling capacity of its Vizag Terminal (outer harbour) in Andhra Pradesh, a top company official said. The capacity enhancement work from 12.5 million metric tonnes per annum (MMTPA) to 23 MMTPA is nearing completion and will be fully operational in November this year, he said. Essar Vizag Terminal Ltd (EVTL), the entity that bagged 30-year concession from Visakhapatnam Port on Design-Build-Finance-OperateTransfer (DBFOT) basis, has already ramped up iron ore handling capacity of the terminal from 25,000 tonnes per day to 70,000 tonnes per day by replacing and modernising the conveyor belt and related infrastructure.

After completion of the expansion work, the loading capacity of the terminal will increase to 1.2 lakh tonnes per day and the facility will be able

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to berth vessels up to two lakh DWT with a draft of 18 metres on the outer harbour, he said. “On completion, the upgraded terminal will have a loading rate of 8,000 tonnes per hour which will be among the highest for an Indian port,” said Rajiv Agarwal, managing director, Essar Ports. EVIL was awarded the contract in 2012 but it took over the facility only in 2015. Since then, the company has been investing heavily to upgrade it, Mr. Agarwal said. The 830-crore investment includes 200 crore upfront payment made to Visakhapatnam Port Trust at the time of takeover. In the last two years, EVTL officials said the company had managed to reduce spillage rate to 0.18%.

“We are determined to cut down spillage and emission to virtually near zero levels,” said. –CB Report

Ports & Shipping

ports & cargo receive new vessel on first voyage from Singapore WASHINGTON

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orts & Cargo Handling Services Ltd., a subsidiary of SIFAX Group and Operator of Terminal ‘C’ Tin’Can Island Port, Lagos, has improved the general cargo component of its services with a brand new vessel, ‘MV Maritime Challenger’, from Singapore.

According to a statement by the Group Managing Director, Sifax Group, Mr John Jenkins, on Sunday in Lagos, the brand new bulk carrier, which made its Sirst voyage to any port in the world from Singapore, is owned and operated by the IMC Shipping, China. “IMC Shipping China has major trading routes in the Asia-PaciSic that serve markets in South America and Africa, focusing on major and minor bulk cargoes. “The vessel, which has installed capacity of about 39,744 tonnes of cargoes, in its Sirst call to Ports & Cargo Terminal, brought both major and minor bulk cargoes.

“Some of the items it brought include: chemicals (pure Ammonium Nitrate), Sluid transport tank, Sibre ceiling, pulp wood, coils, pallets, tractors and trucks. seamless pie and hot rolled sheets.

“Others are: construction equipment and materials, wheel loader, Sodium Sulphate,” Jenkins said. He said the need to put the terminal and its facilities to full use and increase the company’s revenue base were the main reasons for the company’s renewed interest in the general cargo business. Jenkins said, “We are delighted that history has been

made again at our terminal with the arrival of this brand new vessel that embarked on its Sirst ever voyage to any port.” The Managing Director said that the voyage was from Asia to the Nigerian waters and ended with its berth in Lagos. “The company has made a huge investment in infrastructure and equipment at the terminal in the last 10 years and has, therefore, attracted a number of discerning clients, including IMC Shipping, the operator of the vessel.

“What has been the unique selling proposition of the terminal is the quality of service that we provide.

Tuesday October 17, 2017

five ships take berth at port Qasim ive ships C.V Mataquito, M.T Chemroad Echo, M.T Al-Dasma, M.V Luisia Colossus and M.T Ever Rich-6 carrying containers, 16000 tonnes Palm oil, 54997 tonnes Diesel oil, 50,945 tonnes Coal and 4,401 tonnes LPG were allotted berths at Qasim International Container Terminal, Liquid Cargo Terminal, FOTCO Oil Terminal, Port Qasim International Bulk Terminal and SSGC Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) Meanwhile three more ships, C.V Torrente, C.V Maersk Izmir and M.T Barha with containers and 42,000 tonnes Diesel oil also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was reported at the Port at fifty three percent on Thursday where a total of nine ships namely Mataquito, Northern Movement, Ruining-2, MG Earth, Krui Beke, Ever Rich-6, Carolus Magnus, Chemroad Echo and Glorious are currently occupying berths to load/offload Containers, Coal, Canola Seeds, LPG, Edible oil and Diesel oil respectively. –CB Report

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ports of Indiana enters $8m purchase accord LAWRENCEBURG

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new step is being taken toward the creation of Indiana’s fourth shipping port in Lawrenceburg. Indiana Governor Eric Holcomb announced that Ports of Indiana has entered into an agreement to purchase 725 acres of land along the Ohio River in Lawrenceburg and Aurora. “While we’re only beginning this process, it’s hard not to be excited by the prospect of a fourth port in Indiana,” Holcomb said. “The economic beneSits to the region and the state as a whole would be game changing—providing new jobs and development opportunities.”

Much of that land was previously part of the now defunct American Electric Power/Indiana Michigan Power Tanners Creek Plant, a coal-

Sired power plant that was shuttered in 2015. Tanners Creek Development, LLC, a subsidiary of St. Louis-based Commercial Development Company, Inc., bought the property last year and has been decommissioning the power plant and cleaning up the site since. The purchase agreement announced Thursday will allow Ports of Indiana to begin studies to examine the environmental and economic viability of port just south of downtown Lawrenceburg. The agreement gives Ports of Indiana until December 2018 to decide if the site is a viable option for the fourth port. If it is, the agency would pay $8 million for the land. “Indiana’s ports are important economic drivers for our state, connecting Indiana to the world every day,” said Rich Cooper, CEO for the Ports of Indiana. “We welcome this opportunity to explore the possibility of a fourth port for our state and

are eager to move quickly to determine the viability of this land for use as a port to attract major investments and further spur southeast Indiana’s economy.”

Holcomb’s support of the port is encouraging, but there is no timeline for opening. Although the state biennial budget passed earlier this year includes some money for port exploration, a long-term funding source has not been identiSied. Local State Senator Chip Perfect (R-Lawrenceburg) says local state lawmakers will continue to work with everyone involved to make the fourth port a reality. “We have a long way to go, but Governor Holcomb’s announcement is an exciting step. Great job by our local mayors and county ofSicials keeping this possibility going,” said Perfect. The senator in particular recognized State Rep. Randy Frye (R-Greensburg) for championing the concept. Frye has long been a behind-the-scenes advocate

on the port idea, forming critical relationships and promoting discussions.

“Randy has been working hard, obviously talking to the right people, keeping his foot on the gas for this opportunity for which out community is uniquely qualiSied,” Perfect added.

Perfect said he is excited to help bring economic opportunity to the area and looks forward to working with everyone involved to make the port a reality. Frye weighed in on Friday, calling the purchase agreement “welcoming news for our communities.” A fourth port of Indiana would not simply be a place where barges come to load and unload cargo, but an industrial complex attracting business, commerce and industry to our area of the state,” Frye said. “This location is ideal to establish a port due to the proximity of the Ohio River, access to rail and Interstate 275, and near the metropolitan area of Greater Cincinnati and its international airport.”

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Overseas Pakistanis remit $4.8b in first 3 months of FY18 Tuesday October 17, 2017

Business

KARACHI: The Overseas Pakistani workers remitted $4,790.01 million in the first three months (July to September) of the fiscal year 2018 (FY18), compared with $4,740.37 million received during the same period in the preceding year.

A State Bank of Pakistan (SBP) statement here said that during September 2017, the inflow of workers’ remittances amounted to $ 1,293.88 million, which is 33.79% lower than August 2017 and 19.75% lower than September 2016.

nAB chairman to reopen corruption cases ISLAMABAD

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he newly-appointed NAB Chairman, Justice (r) Javed Iqbal, has decided to reopen one hundred closed cases of massive corruption that were shut in the tenure of former NAB chairman Qamar Zaman Chaudhry.

The creditable sources have disclosed that chairman has decided to review the cases again and determined to recover the plundered money from corrupt maSia. Former NAB chairman Qamar Zaman Chaudhry had closed the corruption inquiries against some 100 inSluential personalities belonging to

nAB team to leave for London ISLAMABAD

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politics, bureaucracy and banking sector. “The political personalities who gained beneSit from Qamar Zaman include former prime minister Raja Pervez Ashraf, Finance Minister Ishaq Dar, Arbab Rahim, Aftab Ahmed Khan Sherpao, Sardar Babak KPK Minister and former chief min-

cm punjab says nAB needs reforms, not expansion in jurisdiction

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team of the National Accountability Bureau (NAB) is likely to leave for London in a couple of days to collect evidence there of properties belonging to the Sharif family. “Since NAB has not yet received a reply from the UK authorities, it has decided to pursue the matter in person,” a source said, adding that the team would make sure its return before Oct 13 to submit a report to the accountability court in Islamabad in connection with the indictment of ousted prime minister Nawaz Sharif.

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ister KPK Ameer Haider Khan Hoti, former inspector general Police Khursheed Alam”, sources added and maintained that corruption inquiries have been closed against these personalities. Sources added that Qamar while exercising his special powers had closed the cases Siled against

prominent personalities including Munawar Talpur, brother in law of former President of Pakistan Asif Ali Zardari, Syed Mardan Shah former Sindh minister, Asad Qaiser former speaker KPK assembly, Hanif Abbasi former MNA from Rawalpindi in metro corruption case, NeelumJehlum Hydro project in which corruption worth rupees billions was done was closed. Likewise this, corruption inquiry against Pasco ofSicials and embezzlement in 69 railway engines and 1300 wagons were also closed down. Other scandals include inquiry against President of Punjab Bank Mian Latif, inquiry against PSO administration in corruption case, Ayub Medical Abbottabad administration, Chenab Mill Faisalabad and NHA corruption cases were closed down.

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LAHORE

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hief Minister Punjab Muhammad Shehbaz Sharif on said that instead of expanding jurisdiction of the National Accountability Bureau (NAB), reforms should be introduced to improve its performance in order to eliminate corruption from the country.

According to a handout issued here by DGPR, the chief minister said the country had suffered ir-

reparable loss due to the evil of corruption, and strict and credible system of accountability was needed to uproot the menace of corruption for the stability of Pakistan. CM Shehbaz Sharif said the current condition and the past history of the NAB was witness to the fact that this institution had failed to carry out accountability of the corrupt elements and those who mercilessly looted the national exchequer.

He said such examples exist that no action was taken against such elements despite clear in-

struction of courts.

He said instead of enhancing jurisdiction of the NAB to the superior judiciary and the army, the NAB should operate with honesty and above likes and dislikes. He said institutions like judiciary and army had their own systems and methods of accountability that could be improved to meet the needs of the time. He said, he could not refrain from expressing his displeasure over the hypocrisy of some of political parties over the proposal of enhancing the jurisdiction the NAB.

nAB expands investigation in wagah Town scam LAHORE

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n bid to expand its investigation in Wagah Town scam, the National Accountability Bureau (NAB) has sought the records of other towns of Lahore. NAB had last week arrested Shalamar Town Assistant Commissioner Safdar Virk for embezzlement in tax registries. The arrested AC was on remand for further investigations. An investigator said that they have sought the record of other towns to expand the scope of their investigations after leads were obtained from arrested suspects. “When NAB started investigations into the scam after the arrest of a clerk, Fahad Saleem, over an anonymous application, they found embezzlement worth millions of rupees,” he said. So far, five suspects have been arrested, including an assistant commissioner, and investigations revealed that this was just the “tip of the iceberg”. The probe suggested that similar embezzlement was committed in other towns of Lahore. Initially, the scam was believed to be worth millions after the arrest of a clerk. Later, it was learnt that the seeds of corruption reached up to the assistant commissioner level and the scam could go into the billions. It is expected that other “big guns” will be involved in the matter.

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cpEc guarantees pak economic security: mushahid ISLAMABAD

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arliamentary Committee on CPEC Chairman Senator Syed Mushahid Hussain said on Saturday that China-Pakistan Economic Corridor was a guarantee to bright future, economic security and prosperity of Pakistan.

He was speaking at a seminar on ‘CPEC: Prospects of Pakistan’s Pros-

perity and Economic Stability’, organised by Nazaria-i-Pakistan Trust (NPT) here at the NPT ofSice. A written message on behalf of NPT chairman was also read out on the occasion.

Mushahid said that anti-Pakistan forces were bent upon sabotaging the project and Pakistanis would have to pursue it like the attaining of nuclear technology.

CPEC would be a game-changer for Pakistan, South Asia and Middle East, he added.

He said that the military leadership would defeat anti-CPEC intrigues of the elements active against the project. He said that CPEC was the costliest-ever project between two countries in the world history as this project was worth $50 billion and to be completed by 2030. “It is a national strategic project and cannot be attributed to an individual, a political party or a province,” he added. He recalled that the Quaid-i-Azam had once pre-

dicted to a foreign journalist that Pakistan would be a centre-stage of world politics in future. His vision had been materialised in the form of CPEC, he added. Senator Mushahid said Pakistan had brought China closer to the US in 1970. He appreciated the unstinting support of China to Pakistan and told the audience that China received not a single penny against the military weapon it provided to Pakistan from 1965 to 1980. Pakistan had reciprocated the

friendship gesture equally on all fronts. He said that the Chinese leadership had brought 700 million Chinese out of poverty in the last 25 years, and the 21st century belongs to Asia. Mushahid said that CPEC would play a pivotal role in development of infrastructure, energy projects, Gawadar Port and Special Economic Zones in Pakistan, asserting that the country had started mining in the area of Thar after the start of CPEC projects.

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NICVD receives FPCCI achievement award for health, rehab services KARACHI: National Institute of Cardiovascular Diseases, NICVD – Karachi, has been conferred with the 5th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Achievement Awards 2017, said an announcement.

The award was said to be in acknowledgement of services rendered by NICVD professionals in the field of healthcare and rehabilitation to the patients, largely pertaining to marginalized sections of the society.

Executive Director of NICVD, Prof. Nadeem Qamar, said the institute has been providing state-of-the-art heart healthcare services to the people in need, without any distinction.

During past two and half years NICVD has launched series of programs for the people of Karachi and other parts of the province, he said.

karachi ranked 7th in terms of fDI strategy: kccI KARACHI

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hairman Businessmen Group and former president Karachi Chamber Siraj Kassam Teli and President KCCI Muffasar Atta Malik have said that due to painstaking efforts and strong determination by KCCI, Karachi city has been ranked on 7th position in terms of FDI Strategy in the list of Top 10 Asia-Pacific cities of the future 2017-18 which was released recently by fDi Intelligence, the largest FDI Centre of excellence globally.

In a statement issued, Siraj Teli and Muffasar Malik informed that Karachi city has left behind many prominent cities around the world including Yokohama (Japan), Newcastle (Australia) and Osaka (Japan) who are ranked 8th, 9th and 10th respectively in the Top 10 FDI Strategy Asia-Pacific cities of the future 2017-18. Karachi has also been ranked 4th in terms of cost

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effectiveness in the list of Top 5 Asia-Pacific cities of the future 2017-18 by fDi Intelligence. Chairman BMG and President KCCI, while appreciating KCCI’s R&D Department for providing credible input to fDi Intelligence which has helped in diluting many misconceptions about Karachi, said that it was undoubtedly a notable achievement for Karachi Chamber as the Chamber has been struggling hard since past many years to promote the positive image of Karachi and highlight it as the right destination for foreign investment.

They said that the Karachi Chamber initially participated fDi Intelligence survey last year by providing valuable inputs about Karachi. “Consequently, our city managed to secure 14th position in the top 15 Asia-Pacific Cities of the Future 2015/16 – FDI Strategy, which has greatly improved this year as Karachi succeeded in securing 7th position in 201718 survey”, they added.

Tuesday October 17, 2017

Chambers

RccI to help women entrepreneurs to establish business RAWALPINDI

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reating business opportunities and empowering women in entrepreneurship has always been chamber’s priority. The state of the art center for women entrepreneurs, Women Business Incubation Centre (WBIC) has been functional and helping women entrepreneurs to establish and run their own businesses. This was stated by Zahid Latif Khan, President, The Rawalpindi Chamber of Commerce and Industry (RCCI) in a meeting with Gerrit Ribbink, Technical Team Lead, Entrepreneurship at Enclude who called on him here.

He said that the main purpose of this initiative was to provide women a platform to excel in the Sield of entrepreneurship. Zahid Latif Khan also highlighted the key features of WBIC and said that RCCI also plans to hold seminars, training programs and business plan competition to create awareness among Women Entrepreneurs and youth regarding product development, pricing, packaging and export marketing etc.

On this occasion Gerrit Ribbink lauded RCCI’s efforts and working in empowering women and taking initiatives like WBIC. He said in collaboration with WomenX Entrepreneurship Program we will provide maximum assistance to women entrepreneurs to design effective marketing strategies and develop

stronger support networks. He said that his organization Enclude has joined hands with the Centre for Entrepreneurship Development (CED) at the Institute of Business Administration (IBA) to deliver the program in Pakistan. He informed that WomenX is a World Bank-funded global initiative, aimed at supporting

Dubai chamber to boost trade ties with panama DUBAI

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he Dubai Chamber of Commerce and Industry is aiming to boost bilateral trade ties with Panama, after signing a memorandum of understanding with the Panamanian Chamber of Commerce, Industry, and Agriculture.

The memorandum focuses on promoting business opportunities within Panama’s banking and logistics sectors, encouraging knowledge sharing in key areas, and cooperating to overcome business challenges with the aim of facilitating more joint ventures.The signing came as the Dubai Chamber concluded on Monday a visit to Panama.

Meanwhile, The Dubai Chamber of Commerce and Industry has announced that it won the Best Un-

conventional Project Award at the 10th World Chambers Congress which took place last week in Sydney. The prestigious award, part of the World Chambers Competition 2017, recognised the Dubai Innovation Index as an exceptional and innovative project in an activity not typically associated with a chamber of commerce’s mission and objectives. The Dubai Innovation Index, launched by the Chamber in 2015, serves as an important tool for companies in Dubai to assess and benchmark their innovation practices and performance. Through the Index, the Chamber is keen to create awareness and enhance private sector participation in the total innovation efforts of the emirate.

Dubai Chamber had been shortlisted for the Best Unconventional Project award along with four other

finalists, namely the Chamber of Commerce of Guayaquil (Ecuador), the Chamber of Commerce of Pereira (Colombia), Greater Des Moines Partnership (USA), and the Sao Paulo Chamber of Commerce (Brazil). Following the announcement, H.E Hamad Buamim, President and CEO of Dubai Chamber and Deputy Chairman of the Parisbased World Chambers Federation (WCF) – International Chamber of Commerce (ICC), described the win as a major achievement which solidifies Dubai Chamber’s reputation as one of the leading chambers of commerce in the world. He added that the index remains one of the key pillars of the Chamber’s innovation strategy, while it also supports the Dubai Plan 2021’s objective of the encouraging collaboration between the emirate’s public and private sectors.

women business owners through business education, networking and mentorship. Senior Vice President Nasir Mirza, Vice President Khalid Farooq Qazi, Chairperson Women Entrepreneurship committee Mahvish Afridi, Zuha Shaikh– Project manager at Women X, among others, were also present on the occasion.

Industrialists, exporters’ problems to be resolved: malik ederal Minister for Commerce and Textiles, Muhammad Pervez Malik, said the problems of the industrialists and exporters would be resolved. In a meeting at the Pakistan Federation of Commerce and Industry (FPCCI), here on Thursday he said the resolution of such problems was among the priorities of the government. The minister said the purpose of his visit today was to listen to the problems so that effective steps be undertaken for solving these. He said concrete steps taken by the present government helped streamlined the affairs, improved the country’s economy and put Pakistan on the path of progress and development. –CB Report

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Peshawar Bonded Ware House collects Rs711.56m during 1Q PESHAWAR: The Bonded Ware House of Model Customs Collectorate Peshawar has collected an amount of Rs 711.56 million during first quarter of current Financial Year from July to September.

The Collector at MCC Peshawar Gul Rahman during a talk with Customs Today at Peshawar Customs House appreciated the duty collection by Bonded ware House Peshawar during the first quarter of current Fiscal Year.

Tuesday, October 17, 2017

CUSTOMS BULLETIN

46 cartons of cigarettes, 32 sacks of gutka seized by hyderabad customs Intelligence PESHAWAR nADIR khAn

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he Customs Intelligence and Investigation Hyderabad has impounded 46 Non-Duty-Paid cartons of smuggling cigarettes and 32 sacks of Gutka worth Rs03.1million including duties and taxes during an action on a goods company godown at Tando Wali Muhammad Hyderabad in September 2017-18.

The I&I Hyderabad, on the strict instructions of Directorate General Customs Intelligence Hyderabad Region, told Customs Director Tahir Qureshi to take effective measure to arrest the smuggling in the region.

The Customs Intelligence officers received a tip-off regarding a non-duty paid vehicle. He formed a team, comprising Superintendent Intelligence Officer, sepoys and drivers. The team raided the premises of above said goods company godown and intercepted a vehicle and recovered the said goods. The authorities asked the owner to produce documents regarding the legal import and possession of goods, but he failed to

provide the same. Therefore the officials, taking legal action, con-

fiscated cigarettes and Gutka under customs bylaws and regis-

tered a case against the suspect.

Now the case will be sent to the

customs adjudication for further legal action against the accused.

customs Appraisement surpasses revenue target, collects Rs 3,109.51m FAISALABAD

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he Customs Collectorate has collected Rs 3,109.51 million during three month (July-September) of Siscal year 2017 against the set target of Rs 2,630.40 million.

Sources told Customs Today that Customs Appraisement collected revenue under the heads of customs duty, sales tax, income tax

and federal excise duty during the above said period.

According to revenue statistics available to Customs Today, Faisal-

abad Appraisement collected Rs 817.30 million in the share of customs duty against the set target of Rs 737.65 million with an increased of 111 percent in Sirst three month of Siscal year 2017.

The Collectorate collected Rs 2,254.09 million in share of sales tax during the above said period against the set target of Rs 845.71 million with an increase of 122 percent. Faisalabad Appraisement branch collected Rs 38.11 million in wake of income tax during the above said period against the set target of Rs36.53 million with an increase of 104

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percent. The Collectorate have no collection under the head of federal excise duty (FED) against the assigned target of Rs 10.51 million. It is pertinent to mention here that that Assistant Collector Shah Samad Hamadani is quite satisfied with the performance of the Collectorate in connection with the revenue collection during the last year of the first three months of the fiscal year 2016 while he stressed the authorities concerned of the Collectorate to further expedite the pace of revenue generation for getting more effective results.