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Karachi, Fri October 20, 2017

PESHAWAR

IRFAN BAHADUR

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he Model Customs Collectorate Peshawar has maintained its history by displaying more revenue collection in the Uirst 17 days against the allocated

target of revenue, said Gul Rahman, Collector Customs, at the Customs House Peshawar. The Peshawar Collectorate has collected Rs1060.13million net revenue in 17 days of October in the current FY2017-18 against Rs789.88million received during 17 days of October during previous FY2016-17. So the collectorate stood surplus with Rs270million revenue during only 17 days.

The good work of the Collector Customs at the MCC Peshawar could be seen by con-

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tinuous increase in the revenue collection of Peshawar Customs during these three months. The collectorate has improved its performance by neglecting every chance which might bring fall of revenue. Talking with Customs Today on Tuesday, Collector Gul Rahman reminded the Customs high-ups of making the day happen due to which collections have exceeded from the allocated target. The Collector Customs lauded the duties generated at different Customs Stations in which Torkham Customs Station has received more net revenue than other Customs Stations during the Uirst 17 days of current FY.

North Region generates Rs1556.32m more duties & taxes than allocated target

DG Valuation Surriya to revise VR No 801/2016 on 31st October

FTO postpones hearing of case filed M/s Millennium Textile

Nab Court dismisses Sharifs pleas to halt proceedings

ASO Hyderabad seizes 7,755 kg India made plastic compound

North Region showed surplus revenue collection with an amount of Rs1556.32m | See pAge 02 |

DG Valuation said that the department is receiving two or three applications | See pAge 03 |

FTO has adjourned the hearing of a case filed by M/s Millennium Textile pvt | See pAge 04 |

Former PM Nawaz daughter Maryam and her spouse Safdar the corruption | See pAge 14 |

ASO Hyderabad, has confiscated foreign origin NDP 7,755 kg India | See pAge 16 |

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Customs Tribunal rejects reference ﬁled against FBR Friday, October 20, 2017

ISLAMABAD: Customs Appellate Tribunal dismissed a customs reference filed against field office of Federal Board of Revenue. The bench was hearing customs case filed by M Awais. The appellant had challenged Collectorate of Customs’ Islamabad decision before the tribunal. The bench had reserved decision on the cases recently. The bench had also adjourned hearing on customs cases filed by Assistant collector Collectorate of Customs, Islamabad, M/s Universal Gateway, M/s New Ehsan Enterprises and M/s Pepsi Cola International.

Islamabad

North Region generates Rs1556.32m more duties & taxes than allocated target

ISLAMABAD

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tARIQ DeRYA

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he federal cabinet has granted approval to amend existing conventions on avoidance of double taxation treaties with several countries. The federal cabinet meeting at Prime Minister’s Office with Prime Minister Shahid Khaqan Abbasi in chair. The cabinet granted approval to amend the existing conventions existing between Pakistan and various countries including Sri Lanka, Nepal, France, Tunisia, Morocco, Portugal for the avoidance of double taxation and the prevention of fiscal evasion with respect to Taxes on Income for updation of article of exchange of information. The Cabinet signing of Negotiated Draft Visa Abolition Agreement between the Government of Islamic Republic of Pakistan and the Government of Italy for the Holders of Diplomatic Passport.The cabinet approved signing of MoU on Scientific and Technical Cooperation in the field of Agriculture Research between Pakistan Agriculture Research Council and Agriculture Academy of Bulgaria.Appointment of Member (Administration) CDA was also approved.

he North Region showed surplus revenue collection with an amount of Rs1556.32million against the assigned revenue collection target of all duties and taxes during the two months and Uirst 10 days of October (1st of July to 10th of October) Financial Year 2017-18. According to details explained by sources of North Region, comprising Collectorates of Islamabad, Peshawar, Samberial and GilgitBaltistan, that earned Rs10242.82million during above said period of FY2017-18 against the allocated revenue target for proportional target of Rs8686.50million as all duties and taxes. The North Region was earmarked revenue collection target of Rs10914.32million under all heads for the Uirst four months (July to October) FY17-18. The sources told CT that, during 1st of July to 10th of October FY17-18, the collectorate of Islamabad received surplus revenue collection of Rs4123.99million as all taxes against the assigned revenue target of Rs3437.70million under the same heads. During above said period, the Customs Collectorate Peshawar generated additional amount of Rs5617.78million under all heads

cabinet okays updating tax treaties with several countries

against the allocated revenue collection target of Rs. 5073.17. The Collectorate of Samberial paid rebate refunds of Rs.-652.57million against the earmarked amount of rebate refunds of Rs.-1068.35mil-

lion under all heads while the Gilgit-Baltistan collected Rs1153.62million against the assigned revenue collection target of Rs1243.98million under all heads of duties and taxes for 1st of

July to 10th of October FY17-18. It is expected that the North Region will surpass its allocated revenue collection target for first four months of FY17-18 easily till the end of this month of October.

IHc postpones hearing of appeal filed by collector customs

ISLAMABAD

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slamabad High Court division bench comprising Justice Shaukat Aziz Siddiqui and Justice Mohsin Akhtar Kayani dated in ofUice hearing of an appeal Uiled by Collector Customs Islamabad. The department had challenged a decision announced by Customs Appellate Tribunal by Uiling a case against Sheikh Zubair and others.

This customs matter was Uiled by the department in ongoing year and the court dated in ofUice further proceedings on the matter. M/s Wahaj Enterprises customs case during third week of September. Earlier the same bench had issued notices for further proceedings hearing a case against Customs Appellate Tribunal, Islamabad and Model Collectorate of Customs, Islamabad. It is pertinent to mention that the matter was Uiled with the court in 2008. The matter was pending with the court since then as

the parties had been delaying hearing on the case. The court had heard the case in previous week. Then the court had relisted the matter for hearing. However, on the day court dated in ofUice hearing on the matter following a request by counsels.Barrister Masroor Shah, Muhammad Naeem Qazi, Raja Muhammad Tariq, Shan Zeb Khan, Sikandar Naeem Qazi had represented the appellant the case while Amin Feroze Khan, Naziran Malik, Muhammad Nawaz had contested on behalf ofCustoms Appellate Tribunal in the case.

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SHC reserves judgment in three identical petitions KARACHI: A Sindh High Court’s appellate bench has reserved judgment in three identical petitions challenging enhancement of value by the Director General of Customs Valuation. The petitions were heard by the appellate bench comprising Justice Munib Akhtar and Justice Omar Sial. Earlier the bench was informed by the petitioner as well as the respondent side that this very bench has passed orders in SCRA 744 of 2016 wherein as per interim measure, release of goods is ordered if petitioner pays diﬀerential amount between declared value and value as per Valuation Ruling.

Adjudication-I recovers Rs 1.78m from m/s Qari Associates

Friday October 20, 2017

Karachi

Dg Valuation Surriya to revise VR No 801/2016 on 31st october

KARACHI

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he Customs Adjudication-I has recovered Rs 1.78 million from M/s Qari Associates. The company was found involved in tax evasion. Sources told reporter that Collector Customs Adjudication-I Mohammad Javed sent a showcause notice to M/s Shabbir Traders for allegedly causing loss of Rs1.98 million by way of mis-declaration of classification. According to sources, M/s Shabbir Traders imported a consignment of motorcycle scrap and parts got them cleared by misdeclaring the classification under Pakistan Custom Tariff (PCT) from Pakistan International Container Terminal (PICT).

court sends suspect to jail involved in smuggling KARACHI

m B RANA

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ustoms Court Judge Syed Faiz Rasool Rashdi has sent a suspect namely Abdul Samad to Central Jail on judicial remand. The suspect was booked for attempting to smuggle non-duty paid 20,000 liter of Iranian high speed diesel worth Rs 1,540,000. During the hearing, investigation oﬃcer produced the suspect before the court and informed that a customs team intercepted a suspected Hino trailer bearing registration number TLR071, which was heading toward Karachi from Hub Chowki. Upon checking, the team found 20,000 liters Iranian origin smuggled nonduty paid diesel. After his arguments, court sent the suspect to jail and directed the jail authorities to produce him in the court on the next date of hearing.

KARACHI

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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt said that the department is receiving two or three applications daily from importers to set new prices of different goods. She said that the department carefully consider the suggestions before issuing new valuation ruling or reviewing a valuation. Meanwhile, Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 801/2016 on October 31, it is learnt. Surriya Butt said the department was reviewing suggestions from importers to set new prices. She said that 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 non dairy topping cream was requested. Sources said the Valuation Ruling No: 801/2015 was issued on January 22, 2016. A meeting was held with the stakeholders on October 4, 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, The Directorate General of Customs Valuation has revised the customs value of master batches through Valuation Ruling No 1212/2017 under Section 25-A of the Customs Act, 1969. Customs values of master batches were earlier determined through Valuation Ruling No.786/2016, dated 01-01-2016. There was representation from commercial importer for

Sources told reporters that a petition was submitted by the importers to customs Valuation in which change in prices of non dairy topping cream was requested. Sources said the Valuation Ruling No: 801/2015 was issued on January 22, 2016

chemical traders reject levy of RD on 250 items

KARACHI

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hemical merchants have rejected the decision of the government to impose regulatory duty on 250 imported items. Arif Lakhani, Chairman Pakistan Chemicals & Dyes Merchants Association (PCDMA), in a statement issued on Monday expressed serious concern over imposition of regulatory duty on 250 imported items by

Ministry of Commerce and FBR and totally rejected the imposition of regulatory duty. He said that this move will obstruct the progress of country. “So before going to implement any decision, it should be consulted with all stake holders to avoid any effect in economy of country and business activities, make decision with mutual consent.” Lakhani said that basic item of house hold including pulses and fruits and 100 items from agriculture sector also included in the list of reg-

ulatory duty of 250 imported items, which is not wisely decision. He further said that imposition of RD on imported raw material of industries and agricultural product will deUinitely make the bad impact on importing activities, because importers will import limited, due to additional regulatory duty, which increase their value and it also shortage of important items included pulses in the local market. It will not only increase prices in local market but also will have inUlationary pressure,.

determination of customs value of master batches afresh. One commercial importer namely M/s Standard Enterprises Lahore claimed that the prices of Master Batch (Black Colour) are lower in the international markets than the customs value determined in the existing valuation ruling, which is over one and half year old, hence it is required to be revised in the light of Sindh High Court’s orders dated 10.11.2015 in constitutional petition No. D- 6918/2015.

m/s Haji Yasir goods moves SHc against FBR he Sindh High Court (SHC) has directed parties to submit para wise comments on a contempt application filed by Muhammad Sajid, representative of M/s Haji Yasir Goods Forwarding Agency, against Tahir Qureshi, Director Directorate General of Intelligence & Investigation-FBR and Mukhtar Ali Shaikh Deputy Directorate General of Intelligence & Investigation.

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LHC restricts FBR from recovering advance tax Friday October 20, 2017

Lahore

LAHORE: The Lahore High Court (LHC) has restricted the Federal Board of Revenue (FBR) from collecting advance tax and declares null and void all the recovery notices issued to the taxpayers. According to the details, Justice Shahid Karim heard the case filed by the appellant M/s Paradise Agencies in which the counsel for the appellant argued that under the section 147 of Income Tax Ordinance 2001, the FBR was authorized to recover advance tax from the taxpayers. The counsel argued that prior to this FBR was authorized to recover advance tax in four easy installments after assessment.

court approves post arrest bails of accused involved in mobile smugging LAHORE

m ImRAN meHAR

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he Special Federal Court of Customs Taxation and Anti Smuggling has approved the post arrest bail pleas of two accused who were arrested in mobile smuggling case. On the Special Federal Court heard the post arrest bail pleas of the accused. Customs lawyer opposes the plea of the accused and said before the court that offense against the accused is heinous so their bail plea should be rejected. Special Judge of the Court Sabir Shakir was not satisUied on arguments of the defense consular of customs. After hearing arguments of the accused party lawyers of customs court granted them bail against surety of Rs100,00 each and

court grants 14-day judicial remand of two mobile smugglers he Special Federal Court of Customs Taxation and Anti-Smuggling has approved a 14-day judicial remand of the accused arrested in a mobile smuggling case. Accused Abdul Waheed and Agha Wali were held by the customs intelligence authorities on The Mall. The customs team presented them before the customs court for getting their physical remand to investigate more on the issue. Both accused were supplying these mobile phones to some traders of Hall Road.The customs intelligence team recovered 324 mobile phones worth more than Rs06million. The customs investigation had presented them before the court of special judge of the customs taxation and antismuggling, Shakeel Ahmad, on Monday and asked for their physical remand for three days. –CB Report

personal guarantee as well. According to details an accused Muhammad Imran and Irfan Ali were arrested by the customs intelligence authorities from Lahore. Customs Intelligence and Investigation team produced them before the customs court for getting their physical remand to investigate more on the issue. After that they were sent to jail for judicial trial. Both of the accused Muhammad Imran and Irfan Ali were supplying these mobile phones to some traders of Hall Road and Hafeez Center which are the largest mobile phones markets in Lahore even in Punjab. Customs Intelligence team intercepted them near Shera Kot and recovered a huge quantity of mobile phones of different brands. Sources said that customs intelligence has recovered 2500 mobile phones. Worth of the recovered mobile phones is more than Rs 6.3 million in local market.

Fto postpones hearing of case filed m/s millennium textile LAHORE

SAJID NAwAZ

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he Federal Tax Ombudsman (FTO) has adjourned the hearing of a case Uiled by M/s Millennium Textile (Private) Limited Lahore against the Corporate Regional Tax OfUice (CRTO) until the next date of hearing. FTO Mian Munawar Ghafoor heard the case in which counsel for appellant M/s Millennium Textile (Private) Limited argued that the Corporate Regional Tax OfUice (CRTO), had failed to release the tax refund of the last two years claimed by the company. He said the RTO collected excessive tax from M/s Millennium Textile (Private) Limited during the last two years. He approached the commissioner concerned many times for issuance of refunds but the CRTO

ofUicials did not pay 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 CRTO to clear the refund claims. The counsel further said the CRTO should refund the excess collection in the wake of taxes by the

end of Uinancial year but the situation is quite otherwise. On the other hand, counsel for CRTO argued that appellant M/s Agro Tractors Private Limited has not submitted all record in the ofUice on the basis of which it is claiming refunds. If appellant provides accurate record, the CRTO will issue the refunds if any after a proper assessment.

customs preventive foils bid to smuggle customs tribunal set aside impugned order foreign currency at Lahore Airport ustoms Appellate Tribunal has proceeding was culminated and

he Collectorate of Customs Preventive team deputed at Allama Iqbal International Airport foiled a bid a to smuggle huge quantity of foreign currency abroad and arrested two culprits. The custom sources said that during baggage search of two Bangkokbound passengers at Allama Iqbal International Airport, $25,000 was recovered. The customs team recovered foreign currency and arrested the two accused who are being interrogated. Passengers identiUied as

Muhammad Shehzad a resident of Kasur passport number SY 5142662, accused namely Atif was also involved in same case who is a resident of Lahore. Deputy Collector Naveed ul Rehman Bhagvi took action against the accused and arrested them. Sources has told Customs Today that arrested accused were allegedly involved in currency smuggling with a gang of money laundering. Allegedly this gang is belonged to hall road of Lahore which is a famous market. –CB Report

set aside the case and allowed the appeal in case Uiled by M/s Maple Leaf against Collector of Customs (Appeals) Lahore and others. According to the details about the case, during the course of audit for the year 1996-97 customs authorities was observed that appellant had unlawfully containers as machinery from the bonded warehouse under SRO No.978(I)/95 which resulted into realization of government revenue of Rs8,06,558 and show cause notice was issued and adjudication

passed the order in original that appellant is liable to pay the duties and taxes levied by the custom department. Being aggrieved from the order and the Order-inOriginal (ONO) was challenged before the Customs Appellate Tribunal on the grounds that order in impugned order is not according to the facts and prayed before the court for the hearing and fresh speaking order. On the other side the respondent denied all allegations and appeal for the rejection of appeal. –CB Report

Bmp chief calls for ‘autonomous status’ of FBR

LAHORE

m HAYAt

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usinessmen Panel (BMP) Chairman Mian Anjum Nisar has suggested the government to replace the Federal Board of Revenue (FBR) with an autonomous body, setting it free from any inUluence of the government and political

victimisation that could effectively enforce tax laws both at the provincial and the federal levels. The government was advised to take the private sector on board and involve it in the policy-making process. It was observed that the Federal Board of Revenue must be run by an independent board of directors, comprising professionals.

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he Islamabad Airport Management has committed itself to give the control of the cargo complex to Islamabad Customs at new Islamabad Airport on 1st of November 2017. This was said by Additional Collector Nisar Ahmad Phullerwan while talking with Customs Today. Pakistan Revenue Automation (Pvt) Ltd (PRALâ&#x20AC;&#x2122;s) building has almost been completed and will be functional within the current month. During a meeting between Islamabad Customs ofUicials and airport management, the ofUicials Uinalized the shifting plan to the new airport. The meeting was attended by Collector MCC Islamabad Dr. Saeed Khan Jadoon, Sadia Usman, Assistant Collector BBI Airport, Additional Collector AFU and other ofUicials of the airport management. Regarding the revenue performance of the AFU

Friday, October 20, 2017

during Uirst 10 days of October FY17-18, he said the AFU Islamabad achieved the assigned target of the whole month of October FY 17-18 under the head of Sales Tax in Uirst 10 days. The

enue ed rev n r a e U to the AF nting amou ng n duri millio 5 4 . 1 ober Rs21 of oct s y a d 10 the initial gainst a 8 1 get of FY17 ue tar n e v e ted r llion alloca .63 mi Rs172

AFU earned revenue amounting to Rs211.45million during initial 10 days of October FY17-18 against the allocated revenue target of Rs172.63 million. During Uirst 10 days of October FY17-18, the AFU earned surplus revenue of Customs Duty as well during 10 days of FY17-18. The Additional Collector said the AFU collected Rs87.55million of CD while it was assigned revenue collection target of Rs76.60million. During said period, the AFU received Rs10.95million extra revenue under all the heads against the earmarked proportional revenue target for 10 days of October FY17-18. Nisar told CT that, during initial 10 days of October FY17-18, the AFU got Rs79.90million as Income Tax (IT) against the assigned proportional revenue collection target of Rs43.00 million. The AFU was allocated revenue collection target of Rs120.49million for the month of October FY17-18 under the head of IT.

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eDItoRIAL

Issue of sky-high debts

hough it appears unceremonial for an army chief to speak on issues other than defence cadre, but General Qamar Javed Bajwa not only participated in a seminar on ‘Interplay of Economy and Security’ but also expressed concern over the country’s economic troubles and sky-high debts. His claim of improved security situation is on the record as the security forces have defeated the Indian RAW and Afghan agents, and restored the writ of the state across the country. The national security and economy are correlative and he called for broadening of tax net and maintenance of financial discipline to minimize reliance on foreign assistance. General Bajwa rightly pointed out fallout of the crisis after crisis which has been faced bythe country for the last four decades and the struggle to maintain balance between economy and security during the period. The infrastructure and energy sectors were considerably improved over the years, but the current account balance appeared to haunt the economy.The citizens need reassurance of benevolent and equal treatment from the state and it is high time to place economic growth and sustainability at the highest priority. Pakistan needs structural as well as tax reforms to create fiscal space. The economy needs to be documented and exportable products should be diversified.The army chief called upon the government to take difficult decisions and take all the geographical components of the along with each other to move forward. Pakistan has the lowest tax to GDP ratio in the region and fiscal discipline appears as a priority to ensure continuity of economic policies. There are no two opinions in the notion that Pakistan is facing hostile neighbours on its west and east sides which have constantly been trying to challenge not only the security but also economy of country.They have launched subversive activities in Pakistan to cripple its economy and challenge the writ of the government. Indian agents are present in all provinces and federal territories of the country in the shape of political parties, civil society groups, lawyers as well as media persons. The army chief has elaborated this point and it should be taken into consideration by all sections of the government.

State of economy in light of SBp report I

LAHORE

DR AFtAB AFZAL

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n its latest report on the state of economy, the State Bank of Pakistan has projected the growth rate between five and six percent for 2017-18 in the country’s gross domestic product which is almost the same growth target already set by the government. However, the ambitious target of six percent is achievable in the light of improvement in agriculture, services and industrial sectors.The bank has lowered its inflation target up to 5.5 percent from its earlier projection of 6 percent. The trade deficit is growing and the report advocates for containing the im-

ports of unnecessary and luxury items. The import of only capital goods and essential raw materials should be allowed to save foreign exchange and strengthen recovery as well as investment. There is 19.1 percent growth in import bill covering oil and consumer goods. However, the growth is compatible with increase in income levels and rising share of consumption in overall GDP which increased to 94 percent during the last fiscal year. The economists, however, believe the bank has ignored the vital factors such as increase in oil prices at international market, shrinking foreign exchange reserves of the country and pressures on the currency.

Expecting that inUlation will be contained below the target of 6 percent, the bank maintained the interest rate at 5.75 percent for the next couple of months.The report has also highlighted four major challenges faced by the economy, including reduction in the current account deUicit, alleviation of credit constraints for small and mediumsized enterprises and lack of will to create Uiscal space to fund infrastructure and social development projects.The experts believe there is pressure on the economy from hike in commodity prices and lack of foreign direct investment. According to the report, the tax-toGDP ratio has declined to 12.5 percent after rising consistently to 12.6 percent in 2015-16 from the

low of 9.3pc in 2009-10. The ratio was signiUicantly lower in 2016-17 as compared to the yearly target of 12.9 percent. The growth in the tax collection also fell below 9.5 percent in nominal GDP while expenditures jumped up to 17.3 percent of the GDP in one year.There is a need to assess and analyze the reports of the State Bank and the international Uinancial institutions to devise better policies. Unfortunately, the government takes the reports as a routine matter. Reduction in tax ratio is a serious issue and none other but the government itself is responsible for it. People generally want to pay taxes, but do not want to involve themselves in ofUicial intricacies where corruption is the order of the day.

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M/s Haji Yasir Goods moves SHC against Director I&I FBR KARACHI: The Sindh High Court (SHC) has directed parties to submit para wise comments on a contempt application ﬁled by Muhammad Sajid, representative of M/s Haji Yasir Goods Forwarding Agency, against Tahir Qureshi, Director Directorate General of Intelligence & Investigation-FBR and Mukhtar Ali Shaikh Deputy Director Directorate General of Intelligence & Investigation-FBR for disobeying the court order. A two-member bench, comprising Justice Munib Akhtar and Justice Umer Sial, was hearing the petition. Earlier, counsel for the petitioner stated that court may initiate contempt proceedings against the alleged contemnors for disobeying the order of the customs appellate tribunal in customs appeal dated January 9, 2017 in which tribunal had directed/ ordered to allow the petitioner beneﬁt of amnesty scheme as envisaged under erstwhile SRO 172(1)/2013 dated 05/03/2017.

mazda truck loaded with dry fruits, spices taken into possession

Friday October 20, 2017

National

m/s ZZ & company serves with show cause due to mis-declaration

ISLAMABAD

tARIQ DeRYA

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he Anti-Smuggling Organization (ASO) Islamabad impounded various kinds of smuggling dry fruits and spices along with an offending vehicle worth Rs2.8million on 9th of October 2017 on Peshawar-Rawalpindi GT Road. According to details given by Assistant Collector Majid Hussain Gadd while talking with Customs Today that, in pursuance of a tip-off shared by Dr. Saeed Khan Jadoon, Collector Model Customs Collectorate Islamabad, the ASO Islamabad intercepted a Mazda truck loaded with a big quantity of different kinds of dry fruits and spices en route from

Rawalpindi to Peshawar. A thorough search of the above said vehicle led to a recovery of 930 kilogram of almond and 425 kilogram of apricot. It also confiscated other smuggling dry fruits weighed 414 kilogram. The possessors of the dry fruits and spices failed to produce any proofs, documentary or otherwise, showing legal or lawful possession of the recovered smuggling items. So the ASO impounded the abovementioned goods including the offending vehicle and brought the seized goods to the state warehouse for further investigation. The ASO lodged an FIR against the possessors of above said smuggling items including offending vehicle while a case has been forwarded to I&P Department for further investigation. The seizing ASO squad comprised Superintendent Abdul Malak, Inspector Hafeez and other supporting staff.

KARACHI

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he Collectorate of Customs Adjudication-II has issued a show-cause notice to M/s ZZ & Company (Zoobia Zafar and Company) for allegedly causing a loss of Rs 2.6 million to the national exchequer by way of mis-declaration of classiUication, it is learnt. Sources told Customs Today that during scrutiny of the import data it was revealed that M/s ZZ & Company imported a consignment of different machinery parts and cleared the same by mis-declaring the classiUication under Pakistan Custom Tariff from Customs Port Qasim through their clearing agent namely M/s Subhan Traders. The company availed undue/ inadmissible beneUit/ exemption of sales tax vide S. No. 46, whereas the imported goods are correctly classiUiable under PCT 2355.2569. It is pertinent to mention here that, M/s ZZ & Company itself has imported identical/same import under correct PCT. Apart from it, all other importers of different

kind of machinery parts have either declared the imports themselves or assessed by the Collectorate under correct PCT. Accordingly, an audit observation

was issued to the said importer. The importer was requested to submit the reply soon. Instead, the importer requested for extension of 14 days in submitting the reply.

However, the importer has failed to come up with any tangible evidence and explanation and is also unable to refute the charges leveled by the department.

UAe not providing list of real estate investors: FBR ISLAMABAD

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he United Arab Emirates (UAE) is not providing a list of Pakistanis who have invested around $8 billion in Dubai’s real estate despite repeated reminders sent by the government of Pakistan. At a huddle of the National Assembly Standing Committee on Finance and Revenue, Pakistan Tehreek-e-Insaf MNA Asad Umar once again raised the issue of Pakistanis having invested $8 billion in UAE real estate without getting approval from the State Bank of Pakistan (SBP). He said that the $8 billion has been transferred to the UAE by the Pakistani residents or overseas Pakistanis through illegal ways. “The Federal Board of Revenue (FBR) has taken up the matter with

UAE tax authorities time and again. The UAE authorities have been requested, both directly as well as through the Ministry of Foreign Affairs, for providing the list of Pakistanis having invested in the UAE

release estate. However, no response has been received so far despite repeated reminders,” the FBR told the committee in a written reply. The FBR further said that the federal cabinet had also approved a

summary to initiate negotiations with the UAE to develop a mechanism for the exchange of information through a protocol in view of article 27 of the existing avoidance of double taxations agreement between the two countries. However, the UAE authorities have so far not provided the choice of venue and dates for the negotiations. Meanwhile, the SBP has not granted any permission to any individual or company for the acquisition of property in the UAE or any other country. Similarly, the Federal Investigation Agency (FIA) said that they had not initiated any inquiry against Pakistanis having invested in Dubai. “Normally, the FIA deals with a case related to corruption against federal government’s employees or a case of embezzlement in public funds,” an FIA official said.

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Principal Appraiser Raﬁullah to retire on Jan 2 Friday October 20, 2017

National FBR remembers late customs superintendent Zulfiqar khan

ISLAMABAD: Rafiullah, a Pakistan Customs Service officer of BS-17, is going to retire from the government service on attaining the age of superannuation. The officer, presently posted as Principal Appraiser at Directorate of Internal Audit (Customs), Karachi, will stand retired from government service on Jan 2, 2018. Meanwhile, Ejaz Rasool Shah, a Pakistan Customs Service officer of BS-16, is going to retire from the government service on attaining the age of superannuation.

Statistical oﬃcer Najeeb granted proforma promotion to BS-18

ISLAMABAD

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ISLAMABAD

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he Federal Board of Revenue has announced deep regret over the sad demise of Zulfiqar Khan Sikandri, a BS-16 officer of Customs Department, on August 9. Zulfiqar Khan was born on May 5, 1961 and joined the government services on July 2, 1983. At the time of his death, the officer was posted as Superintendent, Model Customs Collectorate, Peshawar. The FBR appreciated the dedicated services rendered by the deceased. In expressing its sense of the grief at his death, the Board conveyed its commiseration to the member of the bereaved family, praying, “May his soul rest in eternal peace and may Allah give patience and fortitude to the family members to bear this irreparable loss.” Meanwhile, Zulfiqar Ahmad, a BS-19 officer of Inland Revenue Service, has relinquished the charge as Additional Commissioner-IR.

Shahid chattha takes charge as commissioner-IR hahid ul Hassan Chattha, a BS-20 officer of Inland Revenue Service, has taken the charge as CommissionerIR. The officer, in pursuance of Board’s Notification No. 2628-IR-I/2017, dated 20.09.2017, relinquished the charge of the post of Commissioner-IR (Zone-VI), Corporate Regional Tax Office, Lahore with effect from September 25 and assumed the charge of the post of Commissioner-IR (Zone-II), Large Taxpayers Unit, Lahore on the same date. Meanwhile, Imtiaz Ahmed, a BS-20 officer of Inland Revenue Service, assumed the charge as Commissioner-IR (HRM). The officer, in pursuance of Board’s Notification No. 2628-IR-I/2017, dated 20.09.2017, relinquished the charge of the post of Commissioner-IR, Inland Revenue. –CB Report

ajeeb Hussain, a Statistical ofUicer, has been granted proforma promotion to BS-18 along with arrears of pay and allowance. Consequent upon the approval of Junior Level Committee on FR-17(1) constituted in the Finance Division for payment of arrears of pay and allowances arising from the proforma promotion under FR-17, conveyed vide Finance Division’s O.M. No. 1(04)/FR-17/2017 dated 22.08.2017, the ofUicer granted proforma promotion to BS-18 with effect from March 13, 2013. Meanwhile, Tafseer Ahmed, Federal Treasury Officer (FTO), selected through the process of internal job posting (IJP), has been

granted performance allowance. The officer, posted at Data Processing Unit, Gujranwala, was granted performance allowance with effect from September 14,

2017. The grant of performance allowance will be governed through the terms and conditions laid down vide Circular No. 6(96)S(BIC)/2013-14 dated

06.03.2015 and will be discontinued in case prescribed terms and conditions are not fulfilled within one month from the date of issuance of this notification.

All mcc Islamabad stations post Rs71m additional cD during 11 days of october A

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 Uinancial 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 FY1718 against the collection of Rs52.43million during the same period of FY16-17 of CD. The Ad-

ditional 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 FY16-17 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.

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Second Secretary Shiraz’s performance allowance restored ISLAMABAD: The performance allowance of Shiraz Ali, an Inland Revenue Service officer of BS-17, has been restored. The allowance of the officer, presently posted as Second Secretary (MIR-III) at FBR (HQ), Islamabad was restored with effect from September 11. Meanwhile, Amir Yasin, an Inland Revenue Service officer of BS-17, has assumed the charge as Assistant Commissioner-IR. The officer, in pursuance of Board’s Notification No.2628-IR-I/2017 dated 20.09.2017, took the charge as Assistant Commissioner-IR at Large Taxpayers Unit, Lahore on September 29, 2017.

pak delegation discusses economic situation with wB, ImF oﬃcials WASHINGTON

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akistani delegation comprising Finance Secretary Shahid Mahmood, State Bank of Pakistan Governor Tariq Bajwa and Economic Affairs Division Secretary Arif Ahmed Khan, participating in the 98th ministerial meeting of G-24 in Washington DC, held various bilateral discussions on the sidelines of the IMF/World Bank annual meetings. The delegation met Mitsuhiro Furusawa, Deputy Managing Director IMF, Michael Kaplan, Deputy Assistant Secretary, US Department of Treasury, Gilbert Houngbo, President International Fund for Agriculture Development (IFAD) and also attended a number of other events. The members of the del-

egation discussed the current economic situation in Pakistan with their counterparts. They drew their attention to positive economic developments taking place in the country, particularly highest growth rate achieved by Pakistan during the last ten years along with contained inflation, and to the challenges on the external front. They expressed the hope that the ongoing CPEC projects, improved security situation and growth in private sector credit off take, especially fixed investments, will lead to a sustained and inclusive higher growth trajectory for Pakistan in the coming years. Referring to the main challenge facing the economy, they mentioned that the current account deficit was partly driven by higher machinery imports which in coming years should add to the growth momentum of the economy through increased economic activity. However, the external account situation is being closely monitored and steps are being taken to address it.

National

customs Adjudication multan decides 27 seizure cases of Rs16.133 million

Fish exports increase by 19.6% in two months ISLAMABAD

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eafood exports from the country increased by 19.63 percent during the first two months of the ongoing fiscal year compared to the corresponding period of last year. Pakistan exported fish and fish preparations worth $35.273 million during July-August (2017-18) compared to the exports of $29.486 million in July-August (201617), according to the data of PBS. In terms of quantity, the exports of fish and fish preparations during the period under review increased by 35.04 percent by going up from exports of 29,486 metric tons last year to 35,273 metric tons during the current year. On yearon-year basis, the seafood exports increased by 24.13 percent in August 2017 compared to the same month of last year. The fish exports and fish preparations exports during August 2017 were recorded at $22.800 million compared to the exports of $18.368 million during August 2016, the PBS data revealed. On month-on-month basis, the seafood exports increased by 82.59 percent in August 2017 when compared to the exports of $12.473 million in July 2017, according to the data.

MULTAN

ImRAN ALI

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he Customs Adjudication Multan Office has settled 27 seizure cases of Rs16.133million during the month of September. Deputy Collector Customs Adjudication Saima Ayyaz concluded 22 different seizure cases of Rs2.100million after trial. The Customs Adjudication has decided 21 seizure cases in favour of the Customs Department and one case was decided in favour of taxpayer after the hearing. Almost seven fresh seizure cases of Rs2.70million have been submitted in the court of Deputy Collector for hearing in the month of September in the Customs Adjudication Multan OfUice. Deputy Collector Saima Ayyaz has settled almost 55 different seizure cases worth Rs20.145million. Additional Collector Customs Adjudication Talib Hussain has decided four various seizure cases of Rs7.20million after their proceedings during September. These decided seizure cases include four various non-duty-paid smuggled vehicles for the duration of Septem-

Friday October 20, 2017

ber. As many as 16 different seizure cases worth Rs27.297million were submitted in the court of Customs Adjudication for legal trial. Collector Mirza Mubashir Baig has also settled one seizure case of Gulistan Textile Mills worth Rs6.833million and tax evasion case was registered by Multan Customs Collectorate during the audit. Almost two various seizure cases

worth Rs38.890million have been submitted in the Customs Adjudication during September and the collector has three various seizure cases of Rs42.060million available for hearing in the Customs Adjudication Multan. These seizure cases were lodged by Customs Intelligence and Anti–Smuggling Organization in their different anti-smuggling activities in the jurisdiction.

Services exports up by 5 percent in two months

ISLAMABAD

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he services exports from the country increased by 4.94 percent during the first two months of the current fiscal year compared to the corresponding period of last year. The services exports from Pakistan were recorded at $816.27 million during July-August (2017-18) compared to the exports of $777.84 million during July-August (201617), showing growth of 4.94 percent, according to the data released by Pakistan Bureau of Statistics (PBS). The services import during

the period went up by 25.01 percent by going up from $1439.20 million last year to $1799.08 million during the first two months of current fiscal year. Based on the figures, the services trade deficit during the first two months of the current year stood at $982.81 million compared to the deficit of $661.36 million during the same period of last year, showing growth of 48.6 percent. Meanwhile, on year-on-year basis, the exports from the country witnessed negative growth of 4.29 percent during the month of August 2017 compared to the exports of August 2016. The services ex-

ports during August 2017 were recorded at $409.44 million compared to the exports of $427.77 million in August 2017, the PBS data revealed. Meanwhile, the services imports into the country surged by 20.50 percent by going up from $744.7 million last August to $892.34 million during August 2017. On month-on-month basis, the services exports during August 2017 increased by 0.64 percent when compared to the trade of $406.83 million in July 2017. The imports into the country also declined by 0.49 percent in August 2017 when compared to the

imports of $901.74 million in July 2017, the PBS data revealed. It is pertinent to mention here that the merchandise exports from the country during the first quarter of the current fiscal year increased by 10.84 percent. The merchandise exports from the country were recorded at $5,172 million in July-September (2017-18) compared to the exports of $1,538 million during July-September (2016-17). The imports into the country also increased by 22.19 percent by going up from $11670 million last year to $14,260 million during the current fiscal year.

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Friday October 20, 2017

Canadian dollar dips as NAFTA doubts offset oil rally OTTAWA: The Canadian dollar edged lower against its U.S. counterpart as an uncertain outlook for the North American Free Trade Agreement offset higher oil prices. The Trump administration demanded that U.S.-made content account for half the value of the cars and trucks sold under the North American Free Trade Agreement, raising further doubts about any potential deal to renew the pact. NAFTA negotiations are offsetting the benefit for the currency from higher oil prices, said Hosen Marjaee, senior managing director, Canadian fixed income at Manulife Asset Management.

customs oﬃcers seizes 50 pounds of methamphetamine

tax avoidance promoter gets done for not telling HmRc LONDON

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CALEXICO

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S Customs and Border Protection officers working at the Calexico West port of entry on Sunday arrested a woman after they said they discovering 50 pounds of methamphetamine concealed inside the fuel tank of her vehicle. CBP said the incident happened Sunday at about 4:25 a.m. when CBP officers encountered a 31-year-old woman, a U.S. citizen, driving a 1999 Jeep Cherokee. Officers referred the vehicle and driver for a more in-depth examination. Officers conducted an intensive inspection using the port’s imaging system and a canine team to search the vehicle. During their inspection, officers found 40 wrapped packages of methamphetamine concealed inside the fuel tank. The weight of the narcotic was 50

Vietnam timber product exports to hit $8 billion he export of wood and timber products is forecast to bring in US$8 billion in 2017, posting a 17 per cent year-on-year increase and surpassing the target of $7-7.5 billion set earlier this year. Nguyen Ton Quyen, vice chairman and General Secretary of Viet Nam Timber and Forest Product Association (VIFORES), said the impressive growth rate in the first nine months boosts prospects of the wood sector achieving its target. The sector earned $5.9 billion in export revenue from January to September, increasing 11 per cent from the same period last year. The wood export turnover reached some $700 million a month. Viet Nam’s wood products achieved the highest export growth from particle boards, artificial wood boards, melamine-faced chipboards (MDF) and wood pellets. –CB Report

pounds with a street value of approximately $70,000. “Drug organizations continue to utilize deep concealment methods, but thanks to technology, canines, and officer training, officers continue to discover and stop these dangerous drugs from entering the U.S.,” said Area Port Director David Salazar.

The driver, a resident of Mexicali, Baja California, was arrested and turned over to the custody of Homeland Security Investigation agents for further processing. She was later transported to the Imperial County Jail where she currently awaits arraignment. CBP seized the narcotics and vehicle.

Sears canada wants court’s permission to liquidate all remaining stores

ears Canada said Tuesday it plans to seek court approval to begin liquidation of all of its remaining stores and assets, a move that would see about 130 outlets close and put about 12,000 employees out of work. “Sears Canada, with the recommendation of its advisers and approval of the monitor, FTI Consulting Inc., is seeking an order to commence a liquidation that would result in a

wind-down of its business following court approval,” Sears Canada said in a release. “The company deeply regrets this pending outcome and the resulting loss of jobs and store closures,” the retailer said. Sears Canada said that if it gets court approval to begin the process, it expects that liquidation sales at its stores would start no earlier than Oct. 19 and continue for 10 to 14 weeks. –CB Report

he landmark case is expected to enable the tax ofUice to recover about £110m ($145m, €122.7m) in lost taxes. HMRC brought the case under the Disclosure of Tax Avoidance Scheme (DOTAS) rules, which requires promoters to tell the tax authority about any avoidance schemes they design and sell. The case was brought against the promoter of a scheme, Root2, which failed to tell HMRC about its mass-marketed tax avoidance plan called Alchemy. The scheme aimed to extract proUits from owner-managed companies in the form of winnings from bets on the stock market, which the scheme aimed to ensure would be tax free, rather than in the form of taxable employment income. The First-tier Tribunal agreed with HMRC that the

promoter in this case did not abide by the DOTAS rules. Penny Ciniewicz, director general of HMRC’s Customer Compliance Group, said the tribunal’s decision was “a great victory that sends a clear message to tax avoidance scheme promoters that we will pursue you if you don’t play by the rules.” “Most tax avoidance schemes don’t work. The DOTAS rules ensure that HMRC is notiUied of schemes so that we can investigate and challenge them.” “Designers and promoters of avoidance schemes should come forward now if they haven’t already disclosed a scheme to us. We will take action and nobody should think they can get away with not disclosing their avoidance schemes and misleading users about the need to report them.” HMRC said it will seek to impose a substantial penalty on the promoter od the Alchemy scheme for failing to disclose the scheme. DOTAS was introduced in 2004 and has been strengthened and broadened more recently to keep pace with the everchanging avoidance landscape.

Italy’s retail sales fall for second month taly’s retail sales dropped for the second straight month in August, data from the statistical ofUice Istat showed. Retail sales fell 0.3 percent in August from July, when they decreased 0.4 percent. Sales were forecast to grow 0.2 percent. Sales of food and non-food products dropped 0.4 percent each in August. On a yearly basis, retail sales slid 0.5 percent in August, following a 0.4 percent fall in July. Economists had forecast an annual growth of 0.8 percent. Data showed that the volume of retail sales decreased 0.4 percent from July and by 1 percent from same period of previous year.

Meanwhile, Italy’s service sector activity expanded at the slowest pace in six months in September, survey data from IHS Markit showed Wednesday. The Purchasing Managers’ Index for the services sector dropped to 53.2 in September from 55.1 in September. However, any reading above 50 indicates expansion in the sector. New orders continued to rise in September, though at the weakest pace since the start of the year. Nonetheless, employment growth accelerated to a 5-month high in September amid positive growth projections. –CB Report

Australia’s house prices surged 6,556% since the 1960s

CANGERRA

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ustralian housing prices have surged by a massive 6,556 per cent since the early 1960s an average increase of 8.1 per cent every year. Compared to other advanced economies in the past Uive decades, Australia had the sixth high-

est rise in annual property prices. It was beaten by Spain (+9.9pc), UK (+9.3pc), New Zealand (+8.8pc), Italy (+8.8pc) and Ireland (8.7pc). The United States, in comparison, had a 1,332 per cent lift in housing prices in the last Uive decades, and an average gain of 6 per cent per year. Those Uindings were from the Switzerlandbased Bank of International Settlements (BIS), which researched the

impact of short-term interest rates on house prices across 47 countries (advanced and emerging economies). BIS also considered whether housing is a “good longterm investment”. Short-term interest rates were a “surprisingly important” driver of housing prices, according to BIS’s research. Unsurprisingly, its conclusion was “an unqualiUied ‘yes'” as housing prices rose

by nearly 7 per cent each year across 20 advanced economies. “One striking feature of house-price growth is its persistence,” said the report’s authors Gregory Sutton, Dubravko Mihaljek and Agne Subelyte. “With the exception of Germany, Portugal and Switzerland, advanced economies have seen real house prices growing by an average of at least 6 per cent per year for 40 years or longer.”

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Shipping activity at Port Qasim KARACHI: Two ships M.V Da Dan Xia and M.T Three Saskias carrying General Cargo and Soya Bean Seeds were took berths at Multi Purpose Terminal (MW-1) and Grain Fertilizer Terminal (FAP) respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA). Berth occupancy was observed at the port at 41% on Sunday where a total of seven ships namely Jonathan Swift, APL Norway, Da Dan Xia, Sinar Kutaj, Three Saskias, Maritime Venessa and Brizo were occupied at PQA berths to load/oﬄoad Containers, General Cargo, Coal, Soya Bean Seeds, Palm oil and Furnace oil respectively. Cargo throughput during last 24 hours stood at 96,424 tonnes, comprising 68,893 tonnes import cargo and 27,531 tonnes export cargo inclusive of containerized cargo carried in 2,979 containers.

port of oakland approves rail spur linking to cool port Dc he Port of Oakland has approved the construction of a two-mile rail spur that will connect the two main US western railroads with an on-port distribution center designed to handle exports of perishables foodstuﬀs, the port said yesterday. The $11 million spur will link Omaha-based Union Pacific Corp. tracks to “Cool Port Oakland,” a 25acre facility slated to open in the third quarter of 2018. The port will oversee the spur’s construction and share the cost with the developers, Irvine, Calif.-based Lineage Logistics and Oakland-based Dreisbach Enterprises Inc. UP will construct part of the spur on its property. Its chief rival, Fort Worth-based BNSF Railway Co., will also have access to the spur without paying for its use, port oﬃcials said. Under the Cool Port concept, the rail-

roads will bring product to the center, where the freight will be transferred, in a temperature-controlled setting, from rail cars to shipping containers, and then brought across the street to the docks for loading on outbound vessels. The proximity of the $90 million center to the docks means shipments can be loaded onto vessels at minimal cost and with little risk to product integrity, port oﬃcials said. The opening of the $90 million center could dramatically improve market access for Midwest beef and pork producers, the port said. Oakland is one of the few U.S. ports that handles about the same amount of exports as imports. It has a strong niche in agricultural commodities thanks to its relatively close proximity to California’s verdant Central Valley. –CB Report

Ports & Shipping

Busan port aids Ukrainian transshipment WASHINGTON

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perations at Hamad Port has helped bring down shipping costs by 31% despite an economic blockade imposed on Qatar by three of its Gulf neighbours, SAK Holding Group has said in its monthly real estate report.The report said freight prices at the beginning of the blockade were pegged at $1,700 for a 40-foot container. Today, the report said, shipping costs dropped by 31% to $1,300.“Observers noted that the wind blew counter to what siege countries had desired. Closing ports did not isolate Qatar, harm its economy, curb the overall development of all aspects of life, or slow down the pace of construction and development projects, especially those connected to hosting 2022 World Cup. “Qatar, in parallel with the blockade, launched an economic transformation plan that focused

on self-reliance in securing all its needs, preserve the independence of production and manufacturing operations, and doing everything necessary to maintain food and medical security, in partnership with the Qatari private sector and regional and international partners,” the report said. It said Qatar used various options and alternatives to fulfil the needs of the local market and supply it with all types of foodstuff, medicines, raw materials, and building materials. Also,

it quickly launched new maritime routes between Hamad Port and numerous ports in countries such as Oman, Turkey and several other countries in East Asia to boost the movement of Qatari imports from around the world. According to the report, after construction materials started flowing into the Qatari market regularly and at reasonable prices, the siege countries “began to incur heavy losses because 95% of Gulf companies were operating projects in Qatar.”

Friday October 20, 2017

Busan port aids Ukrainian transshipment he Ukrainian Sea Ports Authority (USPA) has signed an agreement on transshipment and investment with Busan Port Authority. A deal recently signed may draw on Busan’s transshipment expertise to increase transshipment volumes at Ukranian ports, for example at Odessa port, the largest port in the Black Sea basin. Busan is the busiest port of the Republic of Korea, handling nearly 20 million TEUs in 2015. Together the ports will look at ways to boost Ukrainian terminals’ capacities for import, transit and transshipment. They will also decide on investment opportunities for Korean business, potentially in Ukraine. State-owned policy research institute Korea Maritime Institute (KMI), which is a global player in the market of research and design in the marine industry, will also be involved in the joint work. It has expertise in the development of master plans for the ports development, useful for Ukraine in the context of harmonizing the development of the cargo front in ports with access roads. –CB Report

SBmA allots p2.4B for Subic ports rehab WASHINGTON

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he Subic Bay Metropolitan Authority (SBMA) bared P2.46-billion fund to prioritize the rehabilitation of piers and wharves in the Subic Bay Freeport Zone to bring to tip-top form the so-called heart and soul of this premier maritime logistics center. Newly-appointed SBMA Chairman and Administrator Wilma Eisma said the agency need to put its assets in top condition to service more vessels and get more returns of investments. “The piers and wharves are undeniably the biggest assets of Subic Bay, and our sea port generates the biggest income among all the SBMA units,” Eisma said. The Subic Bay Freeport has a total of 15 piers and wharves that can serve various purposes

from transshipment of containerized and break-bulk cargoes, fuels and lubricants, grains and fertilizer, as well as servicing vessels and passengers. It also offers key services like cargo handling, pilot and tugboat services, ship chandling, bunkering and tendering, ship agents, onboard repair, cargo survey, underwater survey, and vessel lay-up and line handling. Eisma said that while Subic has its own airport, its seaport is the most viable facility to develop and earn from. “With the money the government is pouring into Clark today, Subic cannot hope to compete with its airport, so we have to prioritize development of our seaport,” she explained. She pointed out that the Alava Pier which services military and passenger vessels in Subic needs to be dredged and its piles strengthened in order to accommodate

bigger cruise ships. “We have concluded talks with some cruise liners and the Royal Caribbean Cruises Ltd. will dock in Subic starting next May, but we can’t bring in those with passenger capacity of up to 5,000 because our piers are not yet upgraded,” Eisma said. She added that it was while attending the 2017 Asia Cruise Forum in Jeju, South Korea last August that she realized it was necessary to rehabilitate Alava Pier to bring it at par with global cruise standards. Other than the repair of piers and wharves, the SBMA also plans to undertake major projects like the construction of the Magsaysay Bridge which leads to the Freeport main gate; upgrading of facilities at the Subic Bay International Airport; concreting and repair of roads; port dredging; and building of the proposed

SBMA-Olongapo Museum. The Subic agency is also planning to build an SBMA Corporate Center to house its various offices that are scattered among several US Navy-era buildings. According to the proposed SBMA budget for 2018 passed by the Senate’s subcommittee on finance, other than the SBMA Corporate Center of P3.2-billion, the repair of Subic piers and wharves will take up the bulk of the SBMA’s P3.548-billion infrastructure budget for 2018. The repair of piers and wharves is estimated to cost P2.46-billion, while the other projects are pegged at P489.3-million for road concreting and repair; P390.7-million for the Magsaysay bridge; P83.38million for port dredging; P80million for the museum and P45.4-million for upgrading of airport facilities.

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Omer Rasul appointed as Addational Secretary Industries Friday October 20, 2017

Business

ISLAMABAD: Omer Rasul, a Bs-21 officer of Pakistan Administrative Service has been posted as Additional Secretary Ministry of Industries and Production. According to a notification issued by the Establishment Division here on Tuesday, Omer Rasul presently awaiting for posting was transferred and posted as Additional Secretary Ministry of Industries and Production with immediate effects and until further orders. Meanwhile, Haroon Ahmad Khan a BS-20 officer of Pakistan Administrative Service, presently posted a Officer on Special Duty (OSD) was transferred and his services were placed at the disposal of Government of Sindh.

court dismisses Sharifs pleas to halt proceedings KARACHI

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ormer Prime Minister Nawaz Sharif ’s daughter Maryam Nawaz and her spouse Captain (r) Safdar on Thursday have appeared before an accountability court here for the corruption proceedings against the Sharif family. Three references have been filed against the Sharif family members by National Accountability Bureau (NAB) in compliance with the Supreme Court’s landmark July 28 verdict. Maryam Nawaz arrived at the court amid tight security and extensive protocol for the hearing

cellular companies pay Rs42.5b taxes in 5 yrs FAISALABAD

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of a corruption reference. She was accompanied by ministers and senior PML-N leaders. Subsequently, Maryam’s spouse and Sharif ’s son-in-law Captain (retd) Safdar reached the court

Senate body to be briefed on Rs1.5 billion Apo financial fraud

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he five cellular companies operating in the country paid income taxes of Rs42549.3 million during the last five years (2012-13 to 2016-17), oﬃcial data revealed. The cellular companies including Zong, Ufone, Mobilink, Telenor and Warid Telecom paid income tax of Rs6419.3 million during the fiscal year 2012-13 while an amount of Rs10,358.3 was paid in 2013-14. Likewise, the cellular companies paid taxes of Rs8286.9 million in 2014-15, Rs8149.5 during the FY2015-16.

premises separately. The NAB court is expected to indict Nawaz Sharif, his daughter Maryam and son-in-law Captain (retd) Safdar in three graft references. Former PM Sharif is currently

in London and would be skipping the graft proceedings today, besides Sharif family’s lead counsel Khawaja Harris is also out of the country. At the outset, one of the Sharif family’s counsels Advocate Amjad Pervaiz pleaded that his clients could not indicted in the references until they were not furnished with complete documents of the case, speciUically the ‘Volume X’ of the Joint Investigation Team (JIT) report. The NAB prosecutor categorically opposed the plea. After the submission of the plea, Judge Muhammad Bashir halted the proceedings for 15 minutes. The judge is expected to announce a decision on the plea after the hearing resumes. After a brief recess, the judge has resumed the hearing.

ISLAMABAD

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he Senate Standing Committee on Finance, Revenue, Economic Affairs and Narcotics Control would be briefed on Uinancial fraud amounting to Rs1.5 billion from accounts of Abandoned Properties Organization (APO). The committee, which is scheduled to meet under the chairmanship f Senator Saleem Mandviwalla, would be given detailed briefing by the State Bank of Pakistan (SBP) on

the issue here. The National Accountability Bureau (NAB) would also present its progress report to the committee on the amount recovered by the bureau from illegal Modarba companies and distribution among the Modarba effected persons. The senate committee would also be briefed by the Federal Board of Revenue (FBR) on the audit of withholding taxes collected by the telecom sector, the notiUication added. The Securities and Exchange Commission (SECP would present its compliance report on the imple-

mentation status of the recommendations made by the committee in its meeting held on September 13, 2017, on the alleged corruption of $17.5 million in the Multan Metro Bus Project. The SECP would also present its progress report on the alleged manipulation of share price of Bank of Punjab (BoP) underwriting of shares along with details of shares purchased and sold by the management and Directors of BoP from January 2015 to March 2017, as recommended by the committee in its meeting on August 23, 2017.

Rs14811.599m collected till Sept 17: chawla KARACHI

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indh Minister for Excise and Taxation and Narcotics Control Mukesh Kumar Chawla has said that during current fiscal year in three months till September 2017, as many Rs. 14811.599 millions have been collected in heads of various taxes , while last year in same period Rs. 13490.519 millions were received. Secretary Excise and Taxation and Narcotics Control Abdul Haleem Shaikh, Director General Shoaib Ahmed Siddiqui and other officers also attended the meeting. While briefing the meeting, Shoaib Siddiqui told that Rs. 1825 millions were collected in term of Motor Vehicle Tax, Rs. 3305.472 millions in term of infrastructure cess, Rs. 32.120 millions in professional tax and Rs.233.603 millions in term of property tax were recovered. He added “the remaining amount was got in heads of various other taxes and the officers concerned have been directed to speed up their efforts to achieve the target.” On this occasion, Chawla, while lauding the performance of the officers, asked them to perform their duties honestly and not to give a single chance of complain in collection of the taxes.

plastic money usage on rise; payment cards’ number reaches 36.6m ISLAMABAD

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he use of plastic money has witnessed rise in Pakistan with increasing of awareness among public, touching 36.6 million number of payment cards till June 2017. The number of payment cards issued in Pakistan has reached 36.6 million by June 2017, up from 33.6 million by June 2016,

showing the year on year growth of 8.8 per cent. A break-up of Payment Cards issued by State Bank of Pakistan (SBP) on Wednesday revealed that Debit Cards are 17.9 million with 48.7 per cent share in user base. Automated Teller Machine (ATM) Only Cards are 8.05 million with 22 per cent share in user base. Credit Cards are 1.3 million with 3.5 per cent share in user base and Social Welfare Cards are 9.11 mil-

lion with 24.9 per cent share in user base. The transactions of money or cash withdrawals through these cards are done by customers through banking infrastructure such as ATM and POS machines wherever available in the country. Among these cards, debit and credit cards are also used for online shopping on different e-commerce service providers. There are 571 locally registered E-Commerce Merchants having their merchant accounts in eight

banks (as of end of June 2017), showing limited boarding of E-Commerce merchants in the country. The number of reported Debit Cards in circulation was 17.9 million and during the year under review, 362.1 million transactions worth Rs. 4.1 trillion were processed using Debit Cards. Debit Card transactions contributed a share of 0.7 million (27.1 per cent) in volume and Rs. 4.9 billion (23.5 per cent) in value of E-

Commerce transactions during the year. Around 26.1 million POS transactions worth Rs.108.5 billion were conducted using Debit Cards. Similarly, until June 2017, the number of reported credit cards in circulation was 1.3 million and during financial year 2016-17, 1.8 million E-Commerce transactions of worth Rs15 billion and 23.9 million POS transactions of Rs.136.5 billion were processed by these Credit Cards.

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Seminar on Interplay of Economy and Security commences RAWALPINDI: A day-long seminar titled: ‘Interplay of Economy and Security’, being organized by InterServices Public Relations (ISPR) in collaboration with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) commenced in Karachi on early Wednesday. The seminar was earlier scheduled to take place but was postponed due to weather hazard, stated an ISPR statement issued here. Chief of Army Staﬀ General Qamar Javed Bajwa will be the key not speaker. A large number of business community from across Pakistan is attending the event. Meanwhile addressing the seminar, Senator Mushahid Hussain Syed said that crafting a new narrative was a way forward. Underling the need to have a collective approach, he said there should be zero tolerance for corruption.

ASeAN countries are huge markets with great potential RAWALPINDI

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Friday October 20, 2017

Chambers

muﬀasar malik advises Russia to invest in cpec-related projects

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ndonesia along with ASEAN countries are huge markets with great potential for Pakistani products and businessmen should focus on these countries to promote trade and exports, observed Muhammad Aqil Nadeem, Pakistan Ambassador-designate to Indonesia while addressing business community at Rawalpindi Chamber of Commerce and Industry (RCCI) here. He said Indonesian Government has recently removed Pakistan from Calling Visa Country List after 13 years. “I must say a big achievement and this will increase people-to-people contacts, said Aqil Nadeem. He said the Indonesia and Pakistan will add more products to enjoy lower tariﬀs under the existing

preferential trade agreement (PTA) between the two countries. The expansion of the items was approved after a recent review of PTA, he added. He informed that Indonesia with 250 million population was the largest Muslim country and provided easy access to Pakistan to over $2 trillion ASEAN market. He said Pakistan could export many products to this huge market, especially Kino, surgical items, Poultry, textiles and pharmaceuticals and stressed that Pakistani businessmen should pay more attention to this important region for maximum exploitation of all untapped trade opportunities. He also assured that his Embassy would share trade inquiries and business related information with RCCI so that its members could take advantage of the available opportunities for promoting trade and exports with Indonesia.

KARACHI

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Trade Representative of the Russian Federation Yury Kozlov has said that trade and investment cooperation between Pakistan and Russia has been improving but it was not that robust hence, both countries will have to explore more areas of cooperation in different sectors of the economy. Exchanging views with President KCCI Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak and KCCI Managing Committee members at a meeting during his visit to Karachi Chamber, Yury Kozlov pointed out that Russia was keen to enhance trade and investment cooperation in numerous sectors including the energy sector, construction and industrial machinery, mines, metallurgy, railways engineering, pharmaceutical products, medical equipment, LED Lighting Systems, fertilizers & chemicals, water management & irrigation facilities, unmanned aircrafts, drones and food products etc. He said that they have wit-

nessed improvement in exchange of trade delegations between the two countries but more such delegations were required to enhance the existing trade and investment cooperation. He advised Karachi Chamber to line up trade delegations to Russia in order to explore trade opportunities and improve ties with Russian counterparts. Agreeing to Karachi Chamber’s concerns over lack of direct bank-

ing channel hindering trade between the two countries, Yury Kozlov said that the absence of direct banking channel was a problem which has to be addressed by the two sides. He informed that Russia was already cooperating with Pakistan in the construction of North and South gas pipelines and was also engaged at Jamshoro Power Plant but this cooperation has to be expanded to other sectors as

LccI firm wins kemA gold certificate LAHORE

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nother LCCI member Uirm Fast Cables has hoisted the national Ulag at global level by winning KEMA Gold CertiUicate after passing `the KEMA test. It is also a good news for the economy as Pakistani entrepreneurs are fast getting their due place in the international trade arena. This was told by the LCCI President Malik Tahir Javed while addressing a press conference here at the Lahore Chamber of Commerce & Industry. LCCI Senior Vice President Khawaja Khawar Rasheed and Vice President Zeeshan Khalil, Kamal Mahmood Amjad Mian also spoke on the occasion. Malik Tahir Javed informed that Fast Cable is now Nation’s First

KEMA Gold CertiUied Electrical Cable Manufacturer. This will deUinitely help them to secure maximum space in the international market that will help boost exports and bring in much-needed foreign exchange. He said that the certiUicate and the report issued by KEMA are widely accepted and trustworthy in the world. He said that the products of LCCI member Uirm passed all of tests and the reports altogether have hundreds of pages with accurate data and complete detailed graphs and pictures. This not only shows KEMA’s strict, discreet and objective work standard, but also proves LCCI member Uirm’s strength in products and technology. “CertiUication from a leading European institution is an honor for the Lahore Chamber and the whole business community. Businesses should take inspiration from the achievement of LCCI Uirms

that are putting in their best efforts to contribute to the national economy and earning good name to the country. It would not only give expansion to their businesses but would also pave way for new investments to the country, joint ventures, would generate more revenues for the government”, the LCCI President added. LCCI Senior Vice President Khawaja Khawar Rasheed and Vice President Zeeshan Khalil said that private sector can do a lot for the economic uplift of the provided it has good atmosphere and friendly policies. They said that government should encourage private sector by taking it on board while formulating the trade and economy related policies. Kamal Mian, stated that Fast Cables is committed to meeting the highest international quality standards in cable and conductor manufacturing.

well. While handing over a CD carrying presentations of 150 Russian companies to President KCCI, Yuri Kozlov said that all these companies are keen to explore opportunities in Pakistan. Earlier, President KCCI Muffasar Atta Malik, while welcoming the Russian Trade Representative, said that KCCI is keen to strengthen trade ties and explore new bilateral trade prospects with Russia.

FccI hails decision to establish NBp branches in china habbir Hussain Chawla President Faisalabad Chamber of Commerce & Industry (FCCI) has welcomed the decision to open two branches of National Bank of Pakistan (NBP) in China positively during next year. In a statement issue here, he said that our bilateral trade volume has jumped to $15.27 billion and we are expecting a sizeable increase in it due to full functioning of CPEC related projects. He said that we are importing goods worth $13.68 billion from China and our exports to china are hardly $1.59 billion. He said that the businessmen of both countries are using non-banking channels or make their imports and exports through century old barter system. –CB Report

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ANF foils heroin smuggling bid at Benazir airport RAWALPINDI: The Anti Narcotics Force (ANF) has foiled a bid to smuggle heroin to Ras al-Khaimah and arrested one accused from Benazir Bhutto International Airport. On a tip-oﬀ, the ANF launched a special drive and arrested Tayyab Khan, resident of District Hangu, who was proceeding to Ras al-Khaimah and traced heroin-capsules placed in his abdomen, oﬃcial sources in the ANF told APP. The ANF registered a case and started investigation.

Friday, October 20, 2017

CUSTOMS BULLETIN

ASo Hyderabad seizes 7,755 kg India made plastic compound HYDERABAD ASLAm ANJUm QUReSHI www.customsbulletin.com

he Anti-Smuggling Organization (ASO), Customs Preventive Hyderabad, has confiscated foreign origin non-duty-paid 7,755 kg India made smuggling plastic moulding compound worth Rso1.1million involving duties and taxes of Rs231106. The compound was loaded on a trailer near Hyderabad Bypass during the first week of October 2017-18. Following strict instruction by Hyderabad Customs Collector Akhlaq Ahmad Khattaq, ASO team conducted various anti-smuggling activities to protect the national exchequer. The team, headed by Additional Collector Customs Hyderabad Dr Aamer Nawaz Hamid, constituted a raiding party comprising Superintendent Amb Khan Inspectors, Shakeel Khan, Iqbal Mughal, Imdad Abro, Abid Khan, Mushtaq Ali Lakho, Sepoys Nenomal, Abdul Razaq, Saddiq Khaskheli, Drivers Sher Akbar, Ajaz Saddam, Jawaid Mashkoor and Nisar Ahemdani. The team intercepted the trailer with registration No: C-9832 near

Hyderabad Bypass and recovered above said plastic moulding com-

pound. Prior to the recovery, officials asked the driver to produce

any legal document about the possession of the item but he was un-

able to prove anything legal so the consignment was confiscated.

Judge bars politically-motivated persons from NAB court ISLAMABAD

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n accountability judge ordered that “politically motivated persons”, including partisan lawyers, should not be allowed to enter the court during hearings of Panama Papers-related references against the Sharif family. In a letter addressed to Islamabad’s District Magistrate, Justice

Miangul Hassan Aurungzeb has instructed that only lawyers involved in the on-going graft cases against members of the Sharif family and Finance Minister Ishaq Dar; nominees forwarded by authorised individuals; and 15 court reporters will be allowed to enter the courtroom. “Politically motivated persons” who may “obstruct the court proceedings” will not be allowed to enter, the justice ordered. The directions were issued a day before former prime minister Nawaz Sharif, his daughter Maryam Nawaz, and her husband, Muhammad Safdar, are expected to be in-

dicted by an accountability court. During the previous hearing of the graft cases against the Sharif family, the court had been forced to postponed the indictment till Oct 19 (tomorrow) after PML-N lawyers and supporters forcibly entered the court’s building and created mayhem. Just as the accountability court judge, Justice Muhammad Bashir, had entered his courtroom, a number of lawyers associated with the PMLN had forced their way inside and surrounded the judge’s bench, loudly complaining that they had been manhandled by security

forces outside the court and prevented from entering the courtroom. In his letter to the District Magistrate, the judge ordered that only 15 court reporters from media houses would be allowed to enter the courtroom to witness the proceedings and that a list of the reporters should be drawn up prior to the proceedings. He further ordered that a Quick Response Force should be stationed outside the court to check “any untoward incident in the courtroom.” Since earlier this month, controversy has surrounded the security arrange-

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

ments made for the Judicial Complex. On Oct 2, Interior Minister Ahsan Iqbal had lashed out at the Punjab Rangers after PML-N leaders, lawyers and supporters of ousted prime minister Nawaz Sharif were prevented from entering the accountability court for a hearing on that day by the paramilitary force’s personnel. In his statement to the media, Iqbal had said that whoever had asked Rangers to secure the Judicial Complex had “challenged the writ of the government”. He had ordered a high-level inquiry into the incident.