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Daily

Vol 1 Issue No. 230

Karachi, Tue November 10, 2015

ISLAMABAD

SHAHID MINHAS

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he Federal Board of Revenue (FBR) has decided to announce tax amnesty scheme for taxpayers to recover unpaid taxes amounting to

Rs 365 billion.

Sources informed Customs Today that Special Assistant to PM on Revenue Haroon Akhtar Khan has said that cases, which are pending in tax tribunals, high courts and Supreme Court involving billions of rupees, will be resolved through mutual understanding between FBR and taxpayers. Under this scheme, tax-

Price Rs. 14.00

payers will have to pay only 60 to 65 percent tax, while remaining will be written-off.

After the scheme, it is hoped that all pending taxes will be recovered that will prove helpful for the FBR to meet the revenue target, he said, adding that such schemes were also announced in neighbouring country, India to recover the dead money.

Customs Preventive collects Rs 2.859 million in four months

Multan ASO impounds non-duty paid Toyota Fielder worth Rs 1.8m

CDWP okays three projects worth Rs3.625 billion

FTO for facilitating taxpayers in renewal of vehicles’ registration

Pakistan-South Korea signs MoU to promote trade activities

The MCC Preventives collected Rs 2.859 million under the head of customs duty | See pAge 02 |

The ASO team has impounded a non-duty paid car during a routine operation Multan. | See pAge 03 |

CDWP, during a meeting chaired by Minister Planning, Ahsan Iqbal, approved | See pAge 04 |

In order to facilitate the taxpayers, FTO Abdur Rauf has taken own motion notice | See pAge 12 |

The ICCI KOIMA signed a Memorandum of Understanding to promote trade | See pAge 09 |

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FBR introduces E-Form to facilitate exporters Tuesday, November 10, 2015

National

ISLAMABAD: The Federal Board of Revenue (FBR) has provided the facility for the exporters’ introducing electronic E-Form in computerized clearance system V-Book.

According to sources, the FBR has also issued circular for the awareness of exporters in this regard. According to the circular, exporters can get electronic EForm from any bank.

Earlier, exporters have provided limited time opportunity to submit application using their V-Book login and password, but after 11th November the exporters directed to must attach their Electronic E-Form with their export Goods Declarations (GDs).

customs preventive collects rs 2.859 billion in four months

urdu signboards, nameplates absent at customs House KARACHI

LAHORE

AftAB cHANNA

M HAYAt

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he Model Customs Collectorate Preventives collected Rs 2.859 billion under the head of customs duty during the last four months of Qiscal year 2015-16.

The MCC collected the duty under various heads, including Land Freight Unit (LFU), Air Freight Unit (AFU) and Anti-Smuggling Organization (ASO).

Sources told Customs Today that collector of Customs Lahore Preventive Mukarram Jah Ansari has directed all the additional, deputy and assistant collectors, superintendents and deputy superintendents to work hard to achieve the set target of duty collection for the Qinancial year 2015-16.

According to sources, the collector told his subordinates to use all the available resources to achieve the target. Earlier, the collectorate of MCC Preventive registered 18 percent growth exceeding the target for the FY 2014-15.

Meanwhile, The Lahore Customs preventive has reshufQled superintendent, deputy superintendents and principal appraisers at the Air Freight Unit; source told Customs Today here on Friday.

According to detail, Deputy Superintendents Amjad Ali, Amjad Khaliq, Israr Ahmad, Javid

espite clear instructions by the Federal Board of Revenue (FBR) chairman to adopt Urdu as an official language, there exists not a single signboard or nameplate in Urdu at the Customs House while the official are confused about this proposal, it is learnt. It may be mentioned here that the FBR has decided to take steps in order to use Urdu as the official language in its routine matters, while the FBR’s Board-inCouncil has also granted permission in this regard. The official sources told Customs Today that it was very difficult for the management to introduce Urdu because the officials as well as the importers and clearing agents would become confused if Urdu signboards were installed. “For instance, a grade-20 officer came out of his office and talked to the staff about Urdu signboards and nameplates. A lower staff asked what is the Urdu of washroom?” sources quoted the incident in a lighter vein. The sources also questioned about the proper Urdu of adjudication collectorates, internal audit, customs valuation, reforms and automation, Appraising Intelligence Branch/Research and Developmen.

Mehmood, Manzoor Hussain Muhammad Aslam, Muhammad Aslam, Salim Akhtar, Muhammad Salim, Nasir Mumtaz, Naveed Ahasn, Khalid Zedi, Zahoor Ahmad Joya are reshufQled at the Admin Branch.

Principal Appraisers Humayoun Mukhtar, Inayat Ullah, Mubashar Ahmad, Habbib Ahmad and Deputy Superintendents Saeed akhtar Joya, Ijaz ahmad Muhammad Ashfaq,

Tabasum Shahzad Wali Ahmad and Zaka ullah are reshufQled at the Appraisement. Superintendent Attaullah and Deputy Superintendent Muhammad Zaheer are reshufQled at Bank Guarantee section.

Superintendents and Deputy Superintendents including Ashar Iqbal, Bushra Naeem, Mirza Naeem, Mirza Waqar, Ejaz Shaheen, Munawar Khan, Mian Faheem, Javed

Iqbal, Musheer Khan,Naeem Ullah, Zia Ashfaq, Amjad Ali, Imtiaz Hussain, Manzoor Ahmad, Muhammad Arif, Idress Sheikh, Saleem Tahir, Shahzad Akhtar, Mujahid Hussain and others are transferred and posted at Export Section, Gerry Shed, ICG, PIA Shed, PIA Shed, Royal Shed, Shaheen Shed, Unaccompanied Baggage Section and Airport Traffic.

customs tribunal adjourns hearing of Smart Zone case until 18th ISLAMABAD

M fAIZAN

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he Customs Intelligence and Investigations told the Customs Appellate Tribunal that Smart Zone imported 1010 pieces of accessories according to Goods Declaration on

July 9, 2014 while the companies supplied 25,825 pieces of accessories across the country on the same day.

The hearing was held against the decision of Customs Adjudication.

During the hearing of the case, chief executive ofQicer of Smart Zone Shakirullah Khan, director Mohammad Latif, Asghar Khan, chief executive ofQicer of TCS Saqib Hamdani, and regional logistics man-

ager Ghazanfar Gull were also present. The Customs ofQicials told the CAT that during scrutiny of the imported data of Smart Zone and TCS, at least 15,000 extra pieces were found and these items were not mentioned in the Goods Declaration of the company.

Customs authorities said that 25,825 accessories were distributed across the country from which 2,225 pieces were seized in Lahore.

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Multan Excise bars inspectors from collecting token tax MULTAN: The Excise and Taxation Officer (ETO) Multan ceased the inspectors of motor branch to collect the token tax of commercial and non-commercial vehicles by reason of contravention in recovery and right now the computer operators will receive the token tax of vehicles.

According to sources, the ETO taken the step to eliminate forged recovery as infringement has been discovered in the collection of token tax for many months so presently, the inspectors of motor branch have been deprived of collecting the tax and in accordance with the new orders issued by the ETO.

punjab collects rs 35b professional tax from 35,000 teachers

Tuesday November 10, 2015

National

Multan ASo impounds non-duty paid toyota fielder worth rs 1.8m

RAWALPINDI

SHAHID MINHAS

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he Punjab Finance Ministry has collected Rs 35 billion as professional tax from 350,000 government schoolteachers during first four months of the current fiscal year.

According to the details, the government has collected Rs 100 as tax from a teacher in four months.

On the other hand, teacher association has reservations over the imposition of professional tax as it has decided to challenge the decision in the court. It is important to mention here that Government of Punjab had given acceptance to imposition of professional tax in budget for financial year 2015-16.

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Jhang ASo seizes smuggled diesel generators FAISALABAD

NAeeM SHeIkH

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he Customs Anti-Smuggling Organization ( ASO ) has seized foreign origin diesel generators worth Rs 3 million. Sources told Customs Today that MCC Faisalabad Collector Dr Zulafqar Ali Chaudhary received a credible information about smuggling of foreign origin diesel generators. The ASO team comprising superintendent Zahid Raza Bukhari, inspector Asgher Mehdi Naqvi, Shaukat Khan, Mujahid Abbas and sepoys Zulafiqar Ali Wahla, Ziaullah Cheema, Muhammad Ajmal, Ahmad Bukkash intercept a vehicle on Multan Road Shorkot district Jhang and seized foreign origin generators. The ASO team asked accused persons Muhammad Riaz son of Abdul Shakoor, and Muhammad Iqbal owner of Madina Generators to produce legal documents regarding the possession of generators.

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MULTAN

SAJID BASHIr

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he Customs Anti-Smuggling Organization (ASO) team has impounded a non-duty paid car during a routine operation in Muzaffargarh, a town 35 kilometres away from Multan.

As per details, the ASO team intercepted a Toyota Fielder car and asked the driver to produce the documents showing legal import and lawful possession of the vehicle but the driver could not comply with the instruction due to not having such documents.

Therefore, the ASO ofQicials impounded the car under the Customs Act 1969. The estimated value of the seized car is Rs 1.8 million.

Meanwhile, The Federal Board of Revenue (FBR) set the huge collection target of almost Rs 50 billion for Model of Customs Collectorate Multan, said Collector of Customs Sarfraz Ahmed Waraich while talking to a delegation of local traders, importers, exporters and industrialists headed by President of Multan Chamber of Commerce and Industry (MCCI) Mian Fareed Mughees A Sheikh. Collector MCC Multan asked traders to utilize the best available facilities of Multan Dry Port properly so that revenue could be generated from this zone.

Collector MCC Multan Sarfraz Ahmed Waraich stressed the need for frequent meetings in order to

enhance mutual cooperation between business community and Customs. Both Sheikh and Waraich agreed to draw plan to facilitate the exporters of agricultural produces, mango and other fruits and infra-structure be provided at Multan International Airport to attract them besides encouraging the importers and discourage menace of smuggling. He said the cold storage and hot water treatment plant be provided at Multan airport to

ASo team intercepted a toyota fielder car and asked the driver to produce the documents showing legal import and lawful possession of the vehicle but the driver could not comply with the instruction due to not having such documents.

Adjudication issues oNo in favour of I&I FAISALABAD

NAeeM SHeIkH

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he Collector Customs Adjudication Faisalabad Raja Tahir Majeed issued Order-in-Original (ONO), by declaring the confiscation of a non-duty paid vehicle lawful.

The vehicle was impounded by

Customs Intelligence and Investigation Faisalabad. Sources told Customs Today that Customs Intelligence additional director received a credible information about a smuggled Hino Ranger truck bearing registration no TKJ347- Lasbella.

The vehicle was driven by accused Muhammad Zubair son of Ajab Khan. The Customs team asked the driver of the vehicle to produce legal documents regarding possession of truck, but he

failed to produce the same.

After which Customs authorities seized the vehicle and registered a case against accused persons.

During Customs Adjudication proceedings a person Ghulam Murtaza son of Asghar Ali appeared on behalf of accused party but he failed to submit any legal documents.

Therefore Customs Adjudication issued OnO in favour of Customs Intelligence declaring confiscation of Hino truck as lawful.

facilitate the exporters of fresh fruits and vegetables. Fareed Sheikh demanded of Chief Collector to ensure complete facilitation for the genuine exporters and importers and give them proper time in case of any genuine importer fails to produce documents at the spot of his consignment before taking any action from Customs. He said that Karachi like facilities be provided to the importers at Multan Dry Port so that it

Multan excise generates rs 124m he Excise and Taxation has collected Rs 124.4 million under the heads of different taxes during October 2015. According to statistics, the Multan Excise accumulated the revenue of Rs 124.4 million in a month including Rs 47 million property tax, Rs 66 million motor tax, Rs 6.4 million excise duty and the Rs 5 million professional tax.—CB Report

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MEPCO launches crackdown on defaulters Tuesday, November 10, 2015

Business

MULTAN: Multan Eletric Power Company (Mepco) has announced to launch a crackdown on defaulters for recovery of pending dues without any discrimination.

Mepco Chief Executive Officer Engineer Fazlullah Durrani issued these directives to the circle officials on Friday. He ordered the divisional and sub-divisional officials to initiate raids for recovery of dues from defaulters on regular basis.

Addressing a meeting with officials at Mepco Headquarters on Friday, he said that solution of the problems of consumers was company’s top priority.

kSe sheds 90pts to drop to 34336 level as volatility grips market KARACHI

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earish trend continued in the Karachi Stock Exchange on Monday as KSE-100 index lost 90.28 points to drop to 34336.47 points level.

The market recorded the highest trading level of 34459.34 points and lowest level of 34310.74 points, with the total volume of 129,512,790 shares, having

HSBc oman sees $3m hit from pakistan sale

Rs6,131,218,266 value. Out of total 334 companies, 101 were up, 207 were down and 26 were unchanged.

Real Estate Investment and Services was the top traded sector with total traded volume of 28,139,500 (19.6%) shares. It was followed by chemicals with a total traded volume of 22,005,500 (15.3%) .

The three top traded companies were Sui South Gas with a volume of 30,755,500 and price per share of 41.45 (1.63), K-Electric Ltd. with a volume 26,559,500 of price per share of 8.02 (0.10), Descon Oxychem(R) with a volume 22,784,000 of price per share of 1.26 (0.41). The top three ad-

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SBC Bank Oman said on Sunday the sale of its banking business in Pakistan to Meezan Bank Ltd will negatively impact its overall performance, to the tune of US$3mn. In a filing with the Muscat Securities Market (MSM), HSBC Bank Oman said the negative impact will be included in its consolidated results for the year ended December 31, 2015.

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DOHA

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nternational Monetary Fund chief Christine Lagarde warned Sunday that global energy prices could remain low for years and urged Gulf countries to adjust their budgets.

Speaking in Qatar's capital Doha after meeting ministers and ofQicials from the six-nation Gulf Coopera-

ISLAMABAD

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entral Development Working Party (CDWP), during a meeting chaired by Minister Planning, Development and Reform Ahsan Iqbal, Friday approved three projects worth Rs 3.625 billion, and referred two other worth Rs72.50 billion to the Executive Committee of the National Economic Council (ECNEC). The meeting also approved the concept clearance of the Pakistan Disaster Risk Management Project and position paper concerning the Governance section. Three projects of the Physical Planning and Housing sector were approved of the Ministry of Interior. Block allocations of Rs 2.5 billion for each project have been made in the Public Sector Development Programme (PSDP) 2015-16.

Two projects of transport and communication sector, relating to connecting road for the New Islamabad International Airport, were referred to the ECNEC. The first project `Road Network for New Islamabad International Airport (Main Link-1 And Periphery Road length 26 km) will be completed with a total cost of Rs 12.67 billion, and an amount of Rs 700 million has been already allocated in the PSDP 2015-16.

C vancers were Fauji Cement with price per share 7.52 (0.13) and 26847500 shares; Telecard Limited with price

per share of 2.77 (0.34) and 11461500 shares; and Jah.Sidd. Co. share of 16.00 (0.31) and 8422500.

IMf chief urges gulf to adapt to sustained oil price drop

MUSCAT

cDwp okays three projects worth rs 3.625b

tion Council (GCC), Lagarde warned that the countries could no longer rely on revenues from oil and gas.

"We believe that the price of oil will probably persist at the level where it is for a number of years and as a result all GCC countries should undertake some degree of Qiscal adjustment," she said at a press conference. She said the IMF believed growth across GCC countries would fall from 3.2 percent this year to 2.7 percent in 2016.

Lagarde also said that export revenues would be $275 billion (256 billion euros) lower this year than in

2014 because of low energy prices.

The price of oil has dropped by more than half since the beginning of 2014, with Brent crude, the international benchmark, trading Friday at $47.42 per barrel for December. Lagarde said adjustments should include "Qirm control" on spending, particularly on public sector wages, and encouraging private sector growth. "Well-planned Qiscal consolidation strategies need to be put in place as soon as possible and communicated so that people understand how the adjustment will take place," she said.

wASA needs 600,000 meters to regularise water connections ISLAMABAD

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ater and Sanitation Agency (Wasa) Lahore needs as many as 600,000 new meters across the provincial capital to regularise water connection and overcome huge Qinancial deQicit.

Keeping in view the increasing Qinancial deQicit of billions of Rupees annually due to water theft ,Wasa

prepared a comprehensive strategy to install efQicient meters on commercial and domestice connections in phases. Under the plan,WASA installed 13,000 meters on water connections across the provincial capital. Well placed sources in WASA told APP here Sunday that besides 13,000 meters in 2015, WASA also installed 40,000 last year and the rest of task will be completed in next phases throughout the city. WASA is initiating the task by the grant of

Punjab government to manage the revenue deQicit and an initial amount of Rs 300 million was approved recently, sources added.

Wasa installed most of the meters out of 13,000 in the current phase on commercial connection. In the next phase, domestic connections also would be regularised and efQicient metres would be install to overcome the Qinancial deQicit and water theft.

Wasa is excepting total receipts

of Rs 13.79 billion by the LDA and the Punjab in the Qinancial year 2015-16 while it will spend Rs 13.93 billion including Rs 5.1482 billion for development schemes.

Catering to miscellaneous sewerage & drainage requirements in different Towns of Lahore will cost Rs 145 million. Restoration of Original Cross Section of 40 feet of Satto Katla Drain from Ferozepur Road to PECO Road, Lahore will cost Rs 115 million.

An amount of Rs 115 million will be spent on preparation of Master Plan of Water supply, Sewerage and Drainage System for Lahore. Replacement of outlived water supply lines in various localities of the city will cost Rs 500 million.

Laying of Sewer lines, Construction of Drain and Disposal Station for Niaz Baig Drainage system UC117, 118,119 and 120 District Lahore will be executed in Rs one Billion.

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KARACHI

AftAB cHANNA www.customsbulletin.com

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he Collectorate of Customs Adjudication-II has issued six show-cause notices to M/s Omar Associates for evading taxes and duties to the tune of Rs 54 million for taking inadmissible DTRE concessions on import of soap stone.

As per details, the PCA Karachi, during scrutiny of DTRE No KEXP/ 3664/ 25052010 dated 25.05.2010, observed that M/s Omar Associates imported 15000 M. Tons Soap Stone under H.S.Code 2526-1010 availing facility of provisions of DTRE Rules notified vide SRO.450(i)/2001 Dated 18-06-2001. The importer imported input material under 65 Goods Declarations during the period 07-072010 to 01-11-2010. The DTRE user exported 14588.364 M.Tons of Finished Talc Lumps under 10 Export Goods Declarations during 06-07-2010 to 26-10-2010.

M/s Omar Associate under Rule 302 of DTRE Rules was granted specific contract based DTRE approval for acquisition of duties and taxes suspended input goods for solely use in exports as specified in the application to the Regulatory Collector in the form set out in Appendix I to the DTRE Rules having all required information (Rule 298 of DTRE rules).

This approval is on the basis of declaration of the applicant who stand responsible for fulfillment of these declarations which besides others includes that the input goods acquired under Chapter XII of SRO.450(I)/2001 dated 18-6-2001 shall be utilized in the manufacture and export of output goods within 24 months. The DTRE user submitted reconciliation statement on 27-02-2012 on prescribed form (App-III) in terms of Rule 307-D of the aforesaid Rules.

It is worth mentioning that under Rule 302A, samples of imported input goods and output goods meant for export shall be drawn at the time of import and export so that the same could be used for cross matching or any other purpose as required. Rule 302(c) categorically states that before allowing release of consignments for export under the DTRE facility, compare literature of the imported raw materials, received from relevant Customs import station with the certified ones provided by the DTRE user for finished goods in order to satisfy himself that the finished goods have been manufactured or produced using such imported raw materials and endorse the same in the examination report. The analysis of import and export documents and the record provided with

reconciliation statement revealed that DT user has not followed the rules in its t spirit. Port of importation is shown Kara instead of Torkham in Appendix-I. Simila the date of import at Torkham is recorded date of arrival in Karachi. Cle ance at Torkham, unloading at shawar Terminal, sorting Labors, reloading and tra portation to Karachi take minimum days.

amples o s , A 2 0 3 le under ru input goods and imported ods meant for o output g e drawn at t all b export sh ort and expor mp time of i me could be u sa that the ing or a h c t a m s qu for cros ose as re p r u p r e h ot

TRE true achi arly d as eart Peby answill 10

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Tuesday, November 10, 2015

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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

want of stimulation package

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he government needs to introduce a stimulation package to spur economic activities in the country as the nation is heading toward financial crisis in a couple years when it will start repayment of loans to the international donor agencies. Besides, the country has been witnessing an education revolution for the last one decade as the government, private and public sector universities are producing thousands of graduates every year and they need placement. It seems financial crisis as well as unemployment are going to emerge as major challenges for the next government. The security situation has significantly improved after the army operations in the tribal areas and elsewhere in the country. The latest statistics indicate decline in terrorism-related incidents by 70 percent since the operation started last year. The country has though gained economic stability to some extent, but fact remains that the borrowed money will have negative repercussions on the national economy in years to come.

However, the government still has the chance to take steps for the revival of the economy. The petty issues like imposition of withholding tax need to be resolved as early as possible by taking the business community into confidence. It is a matter of trust deficit between the government officials and the business community.

Everyone in this country understands the level of corruption and presence of black sheep in every government department. Everyone citizen, who has to deal with government departments, has a story of a bitter experience. Therefore, totally relying on the officials with small salary and ultimate authority is illogical. The government should have to introduce a system of check and balance in every government department and misuse of authority should be an offence punishable by law. Only termination from the service should not be deemed sufficient.

Prime Minister Nawaz Sharif has recently told the UN General Assembly that global threat of terrorism cannot be defeated without addressing the underlying causes. Pakistan has made progress on the security front and international institutions as well as investors are keenly observing the emerging situation. The International Monetary Fund extended a $6.2 billion loan in August and praised steady growth in gross domestic product, projecting 4.5 percent growth for the next year. However, the growth is attributed to macroeconomic stability, low oil prices, planned improvements in the domestic energy supply and investment related to the ChinaPakistan Economic Corridor. Inflation has also been within limits for the last one year.

challenge to attract foreign investment A

LAHORE

Dr AftAB AfZAL

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ccording to newspaper reports, Finance Minister Ishaq Dar has invited foreign businessmen to exploit huge investment opportunities in Pakistan as there is huge potential for investment in every sector of the economy in the country. The minister should understand that every country welcomes foreign investment with both hands, but the investors want certain conditions to invest their money in new projects. Nobody will risk its money on the statements and lipservice by the government ministers. The Pakistani economy is based on loans which are piling

up day by day. Pakistan is ready to receive 10th tranche from the International Monetary Fund (IMF) next month under Extended Fund Facility arrangement, burdening the nation with another $550 million loan. The loan is approved after the government assured the donor agency that it has achieved all the economic targets. The government has also assured the IMF that the budget deQicit will be kept within limits and tax collection will be improved.

As a matter of fact, the problem starts when the government commits to the foreign donors that it will be able to collect certain amount of taxes in compliance with their conditionalities. But the government never gives attention to improve the tax system instead

of tax collections. Another matter of rejoice for the government is that it will receive $900 million from the World Band and Asian Development Bank this month, but the policymakers have no idea what they are going to do with this nation. Instead of concentrating on loans, the Qinance minister should improve the country’s position on the ease of doing business index to attract foreign direct investment. The Qinance minister himself accepted low ranking of Pakistan on ease of doing business index and promises that the government will endeavor to bring the ranking to around 100. The current economic and Qinancial policies are also outdated and need to be revised with clear vision on the part of the government

to promote business, trade and investment in the country. The country’s emerging middle classes can work as an engine of growth for consumer goods industry and it is the best time to promote corporate sector in the country. Though the corporate sector has its own demerits, but overall results of the corporate economy are not bad. Apart from reforms, the government should ensure incessant power supply to the industrial sector and introduce speciQic tax policy for foreign investors. The China Pakistan Economic Corridor will bring over $45 billion investment in the country and mega industrial projects can be initiated in the country, involving investors from all over the world, including China.

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US crude oil settles down 91 cents at $44.29 a barrel WASHINGTON: Oil closed down for a third straight day on Friday, logging their third weekly decline in four, as the dollar rallied on expectations of a rate hike before the year-end after strong U.S. jobs growth for October.

U.S. crude futures settled down 91 cents, or 2 percent, at $44.29 a barrel. Brent crude, the global benchmark for oil, was down about 50 cents at $47.50 a barrel. Prices remained steady after Baker Hughes reported the number of oil rigs operating in U.S. fields fell by 6 in the previous week to a total of 572, compared with 1,568 at the same time last year. U.S. oil drillers have now cut rigs for 10 consecutive weeks, a sign that low crude prices were keeping energy firms away from new production. Brent and U.S. crude futures headed for a weekly loss of about 4 percent as the dollar strength added to the bearish sentiment in oil since Wednesday’s government data showing another weekly build in U.S. crude stockpiles.

fccI urges govt to make realistic, productive economic policies resident Faisalabad Chamber of Commerce and Industry (FCCI) Chaudhary Muhammad Nawaz government officials should be fully aware of the prevailing economic situation, which will help them to contribute their key role in making realistic and productive economic policies. Addressing the participants,

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he said that Pakistan’s economy is on the road to progress as almost all macro-economic indicators are positive. Foreign reserves are in excess of $19.92 billion and balance of payments position looks comfortable whereas oil prices are low and overseas Pakistanis remittances are on the rise. He also mentioned the economic challenges that should necessarily be met are that our GDP, which is growing at an average rate of 3.8 percent for the last 3-4 years, needs to grow at 7 percent to sustain its future growth. A tax structure that should be equitable, fair, non-anomalous, investment driven with more income tax payers brought into the tax net should be devised besides provision of uninterrupted supply of electricity and gas to the industries at affordable price. He said that small and medium entrepreneurs (SMEs) are backbone to industrial development.

Faisalabad has its origin from SMEs and their problems need to be looked in the better national perspective as value added textiles are not picking up because SMEs are facing energy crisis severely. There is no contradiction between government and business community because we both want the welfare, progress and prosperity of the people of Pakistan.—CB Report

Tuesday November 10, 2015

Chambers

pakistan-South korea signs Mou to promote trade activities T

ISLAMABAD

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he Islamabad Chamber of Commerce and Industry (ICCI) and Korea Importers Association (KOIMA) signed a Memorandum of Understanding to promote trade cooperation between Pakistan and South Korea. Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry and Taeyong Thomas Shin, Chairman, Korea Importers Association signed the MoU. Engr. Khurram Dastgir Khan, Federal Minister for Commerce and Jong Hwan Song, Ambassador of Republic of Korea were present at the occasion.

Both sides agreed to work for developing business linkages and cooperation among the entrepreneurs of both countries to explore new avenues of business matchmakings and mutual collaboration. They shall take measures to foster friendships and understanding between the private sectors of both countries with an aim to promote twoway trade, investment, technology transfer and joint ventures and encourage participation of entrepre-

neurs in each other country’s exhibitions. Speaking at the occasion, Engr. Khurram Dastgir Khan, Federal Minister for Commerce said that South Korea has a lot to offer to Pakistan in terms of trade facilita-

tions and investments and hoped that the signing of MoU between ICCI and KOIMA would be helpful in increasing bilateral trade between both countries.

Jong Hwan Song, Ambassador of

LccI for aggressive marketing strategy

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LAHORE

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akistani businessmen should adopt an aggressive marketing strategy to get their due share in the international market. Regional trade is another neglected area where due attention is direly needed. In a statement issued on Friday, the LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that despite having best quality, Pakistani merchandise are not Qinding their way to the most parts of the world just because of lack of aggressive marketing strategy.

They said that regional trade is another neglected area where we have to do a lot of work through public-private partnership.

They said that promotion of re-

gional trade is a must to enhance exports which are showing a declining trend. They said that it is a matter of concern that our exports are going down at a time when our competitors are writing new stories of success in the global market.

We are still struggling to achieve our minimal export target despite having all resources to move forward while those countries are far ahead of us which were following our economic role model in the past”, the LCCI ofQice-bearers said.

Sheikh Muhammad Arshad, Almas Hyder and Nasir Saeed said that Pakistan’s exports base is extremely limited and concentrated in five products namely cotton, leather, rice, synthetic and textile.

They said that more than 60% exports earnings are contributed by the textile industry while 15% of total exports contributed by leather, synthetic made ups and

rice. “It is time to diversify our businesses and have to add new products to attract maximum foreign buyers for Pakistani products”, LCCI office-bearers added.

They stressed the need for developing regional, product specific and target oriented marketing strategy. They said that new markets and new products need to be explored to reduce country’s dependence on few commodities and countries. They said that Pakistan’s exports are highly concentrated in few items. Such concentration in few markets can also become a source for instability in export earnings. The LCCI officebearers said that we should move towards higher value added to increase our exports. They also urged the exporters of textiles, leather, rice and sports goods to develop their own brands to win the international market.

Republic of Korea said that absence of free trade agreement and lack of proper understanding among the trade bodies of two countries were major reasons for below potential trade between Pakistan and South Korea. However, he said that this MoU will hopefully facilitate cooperation between business communities leading to better growth of bilateral trade between both countries.

Atif Ikram Sheikh, president, Islamabad Chamber of Commerce and Industry said that being a developed country, Korea could help Pakistan in improving its economy.

He said Korea’s annual imports were about US$ 500 billion and was optimistic that the MoU will help our businessmen in exploring new opportunities for promoting trade to Korea.

Taeyong Thomas Shin, chairman, Korea Importers Association said that 8500 importers in Korea were members of KOIMA and MoU of cooperation will enable them to enhance their imports from Pakistan as prices of many Pakistani products could be quite competitive for them.

chamber asking democrats to back oil exports he Chamber of Commerce is highlighting the potential economic benefits of allowing widespread oil exports as it pushes a handful of senators to support expanded crude trade. The business group is running digital ads in five states to keep the pressure on senators viewed as potentially voting to lift the 40-year-old ban on U.S. oil exports. The ads, officially launched by the Chamber’s Institute for 21st Century Energy, emphasize the economics of the issue by highlighting the potential jobs that could be gained in each state “if we lift the ban on oil exports.” The campaign follows a Chamber-sponsored radio blitz on oil exports during August.—CB Report

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HK polished diamond imports decline 10% to $13.5b in last 9 months Tuesday November 10, 2015

World

HONG KONG: Hong Kong’s polished diamond imports declined 10 percent year on year to $13.5 billion in the first nine months of 2015, according to data from the Diamond Federation of Hong Kong. In volume terms, the imports fell 12 percent to 14.2 million carats.

Polished imports from India dropped 12 percent to $5.7 billion and from Israel decreased 25 percent to $1.6 billion. Polished imports from Belgium slipped 4 percent to $1.6 billion.

Polished exports dipped 5 percent to $10 billion during the period with exports to Mainland China down 21 percent to $1.6 billion. Consequently, net polished imports, which is the excess of imports minus exports, fell 20 percent to $3.6 billion.

three Iranians beheaded in Saudi Arab for smuggling drugs www.customsbulletin.com

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ome RM30,000 worth of contraband cigarettes were seized by the marine police during a raid on a jetty about 30km from the east coast town of Sandakan.

Also seized during the 4.30am raid on Sunday was a four-wheel-drive vehicle worth RM70,000. Sabah Marine Police commander Asst Comm Mohamad Madun said officers aboard a patrol vessel saw several men loading goods onto the vehicle at the jetty in Sungai Padas. One man was detained.

Checks showed that 7,500 packets of Philippine-made cigarettes had been loaded onto the vehicle.—CB Report

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cuStoMS BuLLetIN report

ong Kong Customs smashed a suspected cross-boundary smuggling syndicate of smartphones during an operation against smuggling conducted in early November. Customs OfQicers intercepted an outbound truck at Man Kam To Control Point last night. A batch of smartphones were found from the driving compartment and a false compartment at the bottom of the truck. Later, Customs OfQicers intercepted an outbound container truck and another truck at Lok Ma Chau Control Point. A batch of smartphones were found in the driving compartment of each of the two vehi-

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Malaysia’s marine police seize contraband cigarettes worth rM30,000

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hree Iranian nationals were beheaded on Sunday, by Saudi Arabia for smuggling large quantities of narcotics into the country, reports said.

The total number of people of executed in the country now stands at 145. Nabi Baksh, Mohammd Balouh and Omeed Bouledah were executed in the Eastern Saudi port of Dammam, Sabq newspaper said.

The state-mouthpiece SPA news agency said that three “criminals” entered the country in wooden boats with large amount of “hashish” and were nabbed by the Saudi coast guard.

According to an AFP tally, with this latest execution, the numer of people killed in the conservative Muslim country stands at 145. Last year a total of 87 people were executed in Saudi Arabia.

Meanwhile, A Saudi prince and four others have been arrested after Beirut authorities foiled one of the country’s largest drug smuggling attempts, seizing two tons of amphet-

Hk customs seizes 864 smartphones worth $4.3m

amine Captagon pills and cocaine before they were loaded onto the prince’s private plane. Prince Abdel Mohsen Bin Walid Bin Abdulaziz and the other Saudi citizens will be questioned by Lebanon’s customs authority. Captagon is the brand name for the amphetamine phenethylline, a synthetic stimulant. Captagon manufacturing thrives in Lebanon and war-torn Syria, which have become a gateway for the drug to the Middle

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East, particularly the Gulf. The U.N. OfQice of Drugs and Crime said in a 2014 report that the amphetamine market is on the rise in the Middle East, with busts mostly in Saudi Arabia, Jordan and Syria accounting for more than 55 percent of amphetamines seized worldwide. The stimulants produce “a kind of euphoria you’re talkative, you don’t sleep, you don’t eat, you’re energetic,” Lebanese psychiatrist Ramzi Haddad told.

france to give €2b for smart cities

rance has become the Qirst country to make a Qinancial commitment towards the National Democratic Alliance government’s ambitious ‘smart city’ project. Around €2 billion will be provided to convert Chandigarh, Nagpur and Puducherry into smart cities, ambassador of France in India Francois Richier announced on Wednesday. While other

countries, including the US, Japan, Spain, Germany, Netherlands and Singapore have entered into partnerships and have chosen their preferred cities to invest in, no Qigure was mentioned earlier, experts working in the area pointed out. That does not, however, mean that France would be bound by this commitment, said a source.—CB Report

cles. Meanwhile, Customs OfQicers intercepted a private car at Yuen Long San Wai Tsuen and conducted a search in a premises there. A batch of smartphones, packing tools and receipts were seized. After that, Customs OfQicers searched a warehouse in Sheung Shui and further found a batch of smartphone empty boxes and accessories. During the operation, seven men aged between 24 and 51 were arrested. A total of 864 smartphones, worth about $4.3 million, and four vehicles were seized. The arrested persons will be charged with attempting to export unmanifested cargo and will appear at Fanling Magistrates’ Courts tomorrow. Customs believes that the syndicate members would Qirst collect smart phones from various locations and then.

uAe’s Anti-Narcotics force seizes 54,000 pills, 32.5kg hashish

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wo months of monitoring the illicit activities of the UAE’s most notorious drug dealers has culminated in 13 arrests and the seizure of their drugs and narcotic pills in a major drug bust.

According to Colonel Saeed Al Suwaidi, Director-General of the Anti-Narcotics Federal Directorate-General at the Ministry of Interior, the successful operation involved constant surveillance of the 13 most prominent drug dealers by anti-narcotics officers for two months.

The dealers, of various nationalities, were monitored as they prepared to conduct drug operations in some of the emirates.

“Through the highly coordinated and cooperative efforts by

the concerned Anti-Narcotics Departments at the Police General Headquarters throughout the UAE, a plan was established in order to capture these criminals one by one,” Colonel Al Suwaidi said.

“They were arrested, and our forces seized the drugs and narcotic pills that were prepared to be distributed throughout the local markets.”

The Anti-Narcotics officers confiscated 54,000 narcotic pills and 3.25 kg of hashish in the operation. Col. Al Suwaidi noted that the Anti-Narcotics officers also succeeded in foiling an attempt by two Asian nationals to smuggle clothes filled with narcotics to one of the punitive and correctional establishments.—CB Report

Saudi investors win seven medals in Int’l trade fair

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audi inventors made a mark in an international exhibition, winning seven medals including two gold, three silver and two bronze for their brilliant innovations. Their products were lined up at the International Trade Fair,

“Ideas Inventions New Products (iENA),” in Germany between Oct. 30 and Nov. 2 this year.

The achievement is no small matter as 700 inventions from 36 countries from across the world vied for a place in the event.

The Saudi inventors represented various technical institutions in the Kingdom under the umbrella of the Technical and Vocational Training

Corporation (TVTC). The TVTC said two gold medals were won by Ryan Mubarak Al-Dossari from the Technical College in Al-Kharj for his intelligent drill invention and Ibrahim Hathloul Al-Anzi from Buraidah for inventing self-washing machine.

Among the three silver medal winners are Hammad Diab Al-Anzi of Riyadh College of Technology for designing a cleaning Qilters device, Saad

Ahmed Al-Ghamdi from Riyadh for inventing safety hose for gas stations and Mohammed Hussein from AlAhsa for his chair for the disabled.

Ahmed Ali Al-Mansaf and Hassan Mohammed Al-Hammad from AlAhsa bagged a bronze medal for their safety sensitive invention and Khaled Abdulaziz Alkhushaiban too won the bronze medal for his water heater invention.

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West Coast ports widen lead on imports NEW YORK: West Coast ports handled more than half of U.S. seaborne imports for the first time in nearly a year, the latest sign that the region has shaken off the effects of last winter’s labor problems.

In September, the Pacific ports handled 50.7% of imports into the U.S., measured by the value of goods, according to a Beacon Economics analysis of U.S. Census Bureau data. East Coast ports’ share of import cargo fell to 42.6%.

The numbers have reversed since February, when labor negotiations brought major West Coast ports to a virtual standstill, and many shipping lines shifted their routes to stops along the East Coast.

global VLcc tracker: chinese landings plummet; Iraq, Nigerian sailings slip rrivals of VLCCs into China over the week plummeted to their lowest in five months, cFlow, Platts trade flow software showed, dragging total North Asian landings to their lowest in four weeks, while sailings from Iraq and Nigeria also hit multi-month lows. Landings in China dropped to 12 from 20 the previous week a low not seen since before June.

This meant total North Asian inflow dropping to a four-week low of 29.

Elsewhere, sailings from Nigeria slumped to one, their lowest in six weeks, and five ships departed from Iraq’s port of Basra, the smallest volume in at least 13 weeks. Iraq’s exports have been in a downtrend recently, averaging 2.72 million b/d of crude exports in October 2.061 million b/d of Basrah Light and 659,487 b/d of Basrah Heavy with the loadings of the former down 8.4% September.—CB Report

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Shipping activity at port Qasim our ships carrying Containers, Coal and Edible Oil were berthed at Qasim International Containers Terminal, Multi-Purpose Terminal and Liquid Cargo Terminal respectively.

Meanwhile, three more ships carrying containers, G Cargo also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was 65% at the port on Friday where total seven ships namely MSC Stella, NYK Furance, Ikan Salmen, Zllos, Pavian, Tau Gas and Bunga Akasla are currently occupying berths to load/offload containers, coal, fertilizer, soyabeen, chemical and edible oil respectively during last 24 hours.

A cargo volume of 49158 tonnes comprising 36789 tonnes imports and 12369 tonnes exports inclusive of containerized cargo carried in 1337 containers (TEUs) was handled at the port during also 24 hours.—CB Report

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Ports & Shipping

MpA calls on global ports to develop LNg bunkering

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he Maritime and Port Authority of Singapore (MPA) has called on global hub ports to be ready for LNG bunkering, given the global move towards clean shipping and higher environmental standards.

The clean LNG offers signiQicant reductions in harmful air emissions compared to the burning of highsulphur bunker fuel. Currently, about 48 ports around the world are either LNG bunkering ready or have plans to do so. “To prepare for the future, Singapore is taking steps to prepare itself to be a LNG bunkerready port when LNG becomes more viable as an alternate fuel.

This will enable us to service a range of vessel types and sizes seeking to take LNG as a marine fuel,” said Andrew Tan, chief executive of MPA. “Singapore will be commencing our LNG bunkering pilot programme in 2017 as the platform to test the LNG bunkering procedures in Singapore,” he said in a speech at the 3rd Busan International Port Conference (BIPC) in South Korea.

The high costs involved in building

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or retroQitting LNG-fuelled vessels are stumbling blocks for the further development of LNG bunkering infrastructure in ports, Tan noted, and this necessitates governmental intervention to make LNG widely adopted as a marine fuel. “For example, the EU is providing signiQicant funding under its ‘Trans-European Transport Network’ that has seen support of various LNG-fuel related projects . Looking to the East, countries such as China, Korea, and Singapore have

made commitments to further develop LNG bunkering infrastructure and/or support the building of LNGfuelled vessels,” he said. “MPA has been collaborating closely with industry partners, stakeholders as well as the Ports of Antwerp, Zeebrugge and Rotterdam to harmonise LNG bunkering procedures. MPA has already received proposals from potential LNG bunker suppliers and we have plans to issue LNG bunker supplier licences by 2016.”—CB Report

rival was “a very big moment” for the company, said Anshumali Dwivedi, CEO of the Port of Algoma. The company is still conducting impact studies and waiting for modernization projects to be completed, but the arrival of this Qirst shipment signals that the port is open for business, Dwivedi said. Demonstrating that the

port is already operational is critical to attracting new investments, he added. “It’s important for us because the mandate for my team was to go after new users and get them to start using the port,” he said. “In these kind of initiatives, having a port becomes a good magnet for attracting these investments.—CB Report

kIct handled 10 million teus since 1998

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arachi International Container Terminal (KICT) has achieved the milestone of handling 10 million TEUs (a twenty-foot equivalent unit) since the start of commercial operations in 1998.

A celebration ceremony held here late Friday to mark the

Adani ports’ H1 fY 2016 cargo throughput rises 10% to 75m tonnes dani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group announced the financial results for the quarter and half year ended September 30, 2015. Consolidated cargo across all ports handled by the company was 76 MMT in H1FY16, an increase of 10%, over corresponding period last year. Adani ports at Mundra handled 57 MMT cargo in H1FY16 thereby continuing its leadership as the largest commercial port in India. In case of containers, the Mundra port handled 1.48 million TEUs in H1FY16 as against 1.35 million TEU’s in corresponding period last year resulting in a 10 % growth as compared to growth of 2% aggregate growth in container volumes at all the major ports, the Company said in its press release.

Consolidated cargo handled by the company was 36 MMT in Q2FY16, an increase of 4%, over corresponding period last year. Also, in case of containers, the Mundra port handled 0.73 million TEUs in Q2FY16 as against 0.67 million TEU’s in corresponding period last year showing a 9% growth.

The ports of Hazira and Dahej handled cargo of 9.88 MMT in H1FY16 thereby showing a growth of 8%.

Consolidated total income including other income increased by 18% to Rs.3,883 crores in H1FY16 as compared to Rs.3,301 crores in the corresponding period last year.—CB Report

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Algoma port receives new cargo stream he arrival of a shipment of salt at the Port of Algoma Wednesday signalled a major step for the project. The cargo stream was the port’s Qirst new shipment since it was established last year.

The shipment contained salt for highways from Compass Minerals, travelling from Goderich, Ont. Its ar-

Tuesday November 10, 2015

achievement. Federal Minister for Ports and Shipping, Senator Kamran Michael was the chief guest, while Karachi Port Trust (KPT) Chairman Vice Admiral (R) Shafqat Jawed, Hutchison Port Holdings Limited (HPH) Group Managing Director Eric Ip, Middle East Asia Division of HPH Managing Director Andy Tsoi and KICT Chief Executive Officer Keith Lau, besides a large number of people from ship-

ping lines, cargo owners, business leaders and industry experts were also present there.

Speaking on the occasion, Kamran Michael said that handling of the ten million TEUs by KICT is a significant achievement and very relevant to the ongoing activities being pursued by the present government in the promotion of ports and shipping sector, which is the backbone of the national economy.

In his welcome address, KICT CEO Keith Lau highlighted the organisation’s achievements and overall contribution to the national economic growth. He said that the KICT started its operations in 1998 with an annual handling capacity of 330,000 TEUs and now it has reached the record of handling 10 million TEUs, a milestone in the history of the container terminal industry of the country.

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Customs Court extends judicial remand of alleged smuggler LAHORE: The Federal Court of Customs Taxation and Anti-Smuggling has extended judicial remand of accused Muhammad Rasheed for third time.

According to details, Muhammad Rasheed was arrested by the Customs Intelligence in a smuggling case and was produced before the court where the court again extended his remand. The court has extended his judicial remand for 14 days.On Saturday after completion of his second judicial remand, he was produced before the court.

Tuesday, November 10, 2015

CUSTOMS BULLETIN

fto for facilitating taxpayers in renewal of vehicles’ registration ISLAMABAD NAeeM uLLAH tArIQ www.customsbulletin.com

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n order to facilitate the taxpayers, Federal Tax Ombudsman (FTO) Abdur Rauf Chaudhry has taken own motion notice of difQiculties being faced by withholding tax depositors for renewal of registration of vehicles.

FTO took notice of the dispute following taxpayers’ escalating difQiculties for getting annual renewal of registration of their vehicles.

Own motion inquiry revealed that Federal Board of Revenue (FBR) tax Qilers were being shown as non-Qilers in the software of FBR generated to maintain listings of active taxpayers and non-taxpayers.

In addition, FTO found that there was no mechanism to prove whether return-Qilers were on Active Taxpayers List (ATL) or not. In order to reduce taxpayers’ difQiculties, FTO directed FBR and post ofQice to upgrade the mechanism of uploading name of taxpayers and providing them veriQication through online system, via email and mobile text messages. FTO also directed post ofQice to stop charging withholding tax from the regular taxpayers as non Qilers.

Lyallpur chemicals gets show-cause for rs 3.2m tax evasion KARACHI

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he Collectorate of Customs Adjudication-I has issued a show cause notice to M/s Lyallpur Chemicals and Fertilizers Jaranwala Lahore for tax evasion of Rs 3.2 million by taking undue beneQits under SRO 551(I)/2008 dated 11.06.2008.

According to details, during the scrutiny of the import data, the ofQi-

cials of the PCA revealed that M/s Lyallpur Chemicals and Fertilizers Limited, Lahore Road, Jaranwala, imported a consignment vide GD No. KAPR-HC-60588 dated 22.01.2011 under PCT heading 2510.1000 through MCC Appraisement (West) Custom House, Karachi said to contain “Natural Rock Phosphate 30% Un-Ground” and got the consignment cleared on payment of 1% income tax, by claiming SRO 551(I)/2008 dated 11.06.2008, for sales tax. The claimed SRO for sales tax exemption issued under section 13 of sales tax Act 1990, therefore the same is not covered under zero

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi

rating regime of sales tax for the application of clause 9 of section 148 of the Income Tax Ordinance 2001 for payment of income tax at the rate of 1%. The importers were required to pay income tax at the rate of 3% vide clause 9A part II to the section 148 of the Income Tax Ordinance 2001 and Antidumping Duty. Therefore, it violated the provisions of Section 32 (1) (2) & (3A) of the Customs Act, 1969 and Income Tax Ordinance 2001 punishable under clauses (1), (9) and 14 of Section 156(1) of the Customs Act, 1969 and punishable under relevant provisions of Income Tax Ordinance 2001.