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Vol 1 Issue No. 211

Karachi, Thu October 22, 2015

KARACHI

Zulfiqar Kunbhar www.customsbulletin.com

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he Anti-Smuggling Unit (ASU) of Pakistan Customs Karachi has confiscated more than 28,000 smuggled cell phones worth Rs 300 million along with accessories dur-

ing a raid.

According to Chief Collector Customs Zahid Khokhar, the cell phones and other items were smuggled to evade the taxes and duties which are in millions of rupees.

ConViscation of the said items can save millions of rupees in terms of national exchequer. In addition, ASU also seized electronics items during

Price Rs. 14.00

the raid. Customs has lodged a case against culprits and started further investigation, Khokhar said.

The Chief Collector Customs appreciated the raiding team on recovery of cell phones and electronic items worth millions of rupees and hoped that Customs ofVicial would continue their vigil in order to curb the menace of smuggling.

‘Letter of proxy must for clearing agents to enter customs house’

PCA detects sixth tax evasion case against M/s Omar Associates

92% pending cases cleared: Qamar inaugurates forensic science lab for NAB

FBR told to bring policy reforms to curb smuggling

Resolution of Kashmir dispute key to promote trade with India: ICCI

MCCExportsDrSaifuddinJunejohasissued anofficeorder,askingtheclearingagents | See page 02 |

Directorate of PCA Karachi has detected sixth case of tax evasion of Rs 6.97 million | See page 03 |

Minister of State and BISP Chairperson Marvi Memon has said that the BISP’s | See page 04 |

The Senate Standing Committee on Finance, Revenue and Economic Affairs | See page 12 |

Pak-Turkey cultural collaboration reaches a new milestone as the two countries | See page 09 |

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Tax evasion: Internal Audit, PCA fail to achieve set target Thursday, October 22, 2015

National

ISLAMABAD: The Directorate General of Internal Audit and Post clearance Audit (PCA) of the Federal Board of Revenue (FBR) have failed to recovered tax evasion according to Auditor General of Pakistan report of 2014-15. Sources told Customs Today that the Auditor General of Pakistan has mentioned in its report for the year 2014-15 that the FBR has established both organizations Internal Audit and PCA to stop and recover the tax evasion in the import sector but both organizations have failed to achieve their assigned targets. Sources said that the Auditor General of Pakistan has directed the FBR to strengthen its internal control and revamp the systems of internal audit and the PCA.

‘letter of proxy must for clearing agents to enter customs house’

customs re-fixes values of re-rollable scrap, compressor scrap

KARACHI

MULTAN

imran ali

aftab channa

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ollector, Model Customs Collectorate MCC Exports Dr Saifuddin Junejo has issued an ofVice order, asking the clearing agents to produce a letter of proxy from license-holders to enter the customs premises.

“As is provide in section 208 of the Customs Act 1969 read with licensing rules vide SRO 450(I)/2001 dated 18.6.2001, any Custom House agent licensed under section 207 of the Customs Act 1969, appearing before a customs ofVicer, will be asked to produce a letter of authorization,” according to a letter available with Customs Today.

The order further says that an ofVicer may refuse to entertain an employee or representative unless an authority letter duly signed by the licence-holder is produced.

“In order to ensure that a consignment is exported by the authorized person, it has been decided that entry into the premises of MCC Exports, Custom House Karachi or AC/DC ports shall only be allowed to the clearing agents or their authorized representatives having customs permit or smart cards issued by the association. Any unauthorized representative without having permit/ smart card shall not be allowed to enter the premises of the collec-

irectorate General of Customs Valuation has determined the values of re-roll able scrap and compressor scrap vide Valuation Ruling No.767/2015.

The customs values of re-rollable scrap and compressor scrap were determined vide Valuation Ruling No.653/2014. The association of importers filed application for downward revision of values on the plea that the value of re-rollable scrap has declined in the international market.

Directorate General of Customs Valuation decided to review the prices of re-rollable scrap and compressor scrap after decline in international market.

With a view to reflect the current prices prevailing in the international market, an exercise to determine the values of re-rollable scrap and compressor scrap was undertaken.

Accordingly to new revised prices the re-rollable scrap under PCT 7204.4910 of all origins would be assessed to duty and taxes at $440 per metric ton. While compressor scraps under PCT 7204.4940 of all origins would be assessed to duty and taxes at $620 per metric ton.

torate,” the Collector added.

Moreover, in case of self-clearance, the exporters shall have to authorize any person to pursue his

case in the collectorate headquarters and the respective ports ofVicers of AC/ DC by issuing and uploading in the system the prescribed

authorization along with GD depicting CNIC and contact number at the time of Viling of the goods declaration in the WeBOC system.

SBP governor for expanding work done on resolution framework KARACHI

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overnor State Bank of Pakistan Ashraf Mahmood Wathra has outlined his outlook for the Regional Consultative Group Asia (RCG Asia) and suggested that the RCG expand on the work done so far on resolution

framework as well as Vinancial safety nets. “These initiatives will enable the member countries to exchange fruitful ideas in order to get critical insight on these issues’, he added. He was co-chairing the 9th meeting of Financial Stability BoardRegional Consultative Group for Asia (FSB-RCG Asia) alongside Norman T.L.Chan of Hong Kong Monetary Authority. The meeting was held in Hong Kong SAR today on October 20, 2015.

In July 2015, Governor Wathra

was appointed as the co-chair of Financial Stability Board- Regional Consultative Group for Asia (FSBRCG Asia) along with Norman T.L. Chan of Hong Kong Monetary Authority for a two-year term. The cochairs are responsible for hosting RCG Asia meetings, conducting workshops, coordinating with the FSB Secretariat, and attending FSB Plenary meetings.

FSB has been established to coordinate, at international level, the work of national financial authori-

ties and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability. In addition to its own member countries, FSB through six regional consultative groups (RCGs) conducts outreach with another approximately 65 jurisdictions. Formed in 2011, the RCG Asia includes central banks and financial authorities of 16 countries.

During the welcoming remarks, the Governor also commented on sessions pertaining to retrenchment of correspondent banking, wholesale market conduct, and deposit insurance.

During the meetings, the RCG Asia members discussed issues pertaining to vulnerabilities and Vinancial stability including global and regional developments. Further, they discussed market-based Vinancing and asset management activities along with associated risks.

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FBR issues notices to 4,500 tax defaulters KARACHI: The Federal Board of Revenue (FBR) has issued notices to tax defaulters and new taxpayers to bring them into tax net.

According to the sources of Additional Commissioner Regional Tax Office –III (RTO_III), the FBR has sent notices to 4,500 tax defaulters of 2014-15 in Karachi during the period between September 21, 2015 and October 10, 2015.

The FRB had started the scrutiny of the tax defaulters in August 2015 and now the board has sent them final notices. The FBR has also sent notices to more than 6,000 persons to bring them into tax net permanently till December 31, 2015.

appellate tribunal chairman ghulam murtaza postpones visit to islamabad ISLAMABAD

naeem ullah tariq www.customsbulletin.com

ustoms Appellate Tribunal (CAT) Chairman Ghulam Murtaza Bhatti has postponed his arrival to the federal capital owing to hearing of significant cases in Lahore.

Ghulam Murtaza Bhatti, who was scheduled to arrive and resume hearings at the tribunal headquarters in Islamabad, has to cancel visit on account of overwhelming cases proceedings in Lahore.

Appellate tribunal official told Customs Today that chairman would resume hearing at headquarters soon, though they abstained from mentioning any specific dates for his arrival in absence of new schedule.

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Excise seizes documents of 74 vehicles on token tax default LAHORE

m imran mehar

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he Excise and Taxation Department Motor Branch has seized documents of 74 vehicles on Tuesday. The Excuse Punjab formed eight special teams for the recovery of token tax from defaulters. According to the Excise officials, these teams are working in different areas of the city to take action against token tax defaulters. After the grace period of one month, the Excise Motor Branch formed these teams for the recovery of taxes and to aware the general public about their dues.

These newly formed teams started establishing checkpoints in different areas of the city. On Tuesday Excise teams established checkpoints at Shahdra Tool Plaza, Jail Road, Thokar Niaz Baig, Barki Road and Ferozepur Road to aware people to clear their token tax dues as soon as possible.

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Thursday October 22, 2015

National

pca detects sixth tax evasion case against m/s omar associates KARACHI

aftab channa

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he Directorate of Post Clearance Audit (PCA) Karachi has detected sixth case of tax evasion of Rs 6.97 million by M/s Omar Associates (Pvt) Limited for availing facility of provision of DTRE rules.

According to details, during the scrutiny of DTRE No. KEXP/4334/29032011 Dated 29.03.2011, it has been 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 notiVied vide SRO.450(i)/2001 Dated 18-06-2001. The importer imported the raw material under 47 Goods Declaration during the period 0604-2011 to 06-06-2011. The DTRE user exported 14030 M. tons of Finished Talc Lumps under 8 Export Goods Declarations during 07-042011 to 24-06-2011.

M/s Omar Associate under Rule 302 of DTRE Rules was granted speciVic contract based DTRE approval for acquisition of duties and taxes suspended input goods for solely use in exports as speciVied 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 fulVill-

ment of these declarations which besides others includes that the input goods acquired under Chapter XII of SRO.450(I)/2001 dated 18-62001 shall be utilized in the manufacture and export of output goods within 12 months. The DTRE user submitted reconciliation statement on 20-12-2011 on prescribed form (App-III) in terms of Rule 307-D of the aforesaid Rules.

It is worth mentioning that under Rule 302-A, 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 match-

the firm imported raw material under 47 goods Declaration during 06-042011 to 06-06-2011. the Dtre user exported 14,030mt finished talc lumps under 8 export goods

customs court hears 26 cases on tuesday LAHORE

m imran mehar

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he Special Court of Customs Taxation and Anti-Smuggling heard 26 different cases which were scheduled for hearing, including pre-arrest bail pleas of accused persons on Tuesday. ost of the cases were ad-

journed without any proceedings because no lawyer and parties concerned appeared in the court. Hear-

ing of bail pleas of three suspects adjourned till the next hearing of the cases.

Cases scheduled for hearing on Tuesday including tax evasion, customs, smuggling and narcotics.

Cases of pre-arrest bail pleas of M Aslam and Usman were also scheduled in the Customs Court in a alleged smuggling case but the court adjourned these cases until next hearing. The cCurt also proceeded on statements of witnesses on 5 different cases on the day.

ing or any other purpose as required. Rule 302© 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 certiVied ones provided by the DTRE user for Vinished goods in order to satisfy himself that the Vinished goods have been manufactured or produced using such imported raw materials and endorse the same in the examination report.

Customs Lab facing shortage of technical staff he Customs Laboratory is facing shortage of experienced and technical staff. This is the main reason in delaying the clearance of consignments of raw material. Importer Faisal Anwar while talking to Customs Today said that the department recently suspended some senior and experienced examiners due to violation of service rules. —CB Report

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Petrol sale at shops banned Thursday, October 22, 2015

Business

FAISALABAD: The city government of the industrial city of Pakistan has prohibited the sale of petrol at shops in a bid to tighten the security ahead of Ashura of Muharram.

A spokesman of City District Government Tuesday said that openly available petrol in cans and bottles can be misused for terrorism during Ashura days, therefore a ban has been imposed.

The raiding teams have also been activated to check the sale of petrol in shops and take strict action against the sellers and purchasers, he added.

KSe sees variation, closes higher at 33944 points KARACHI

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he Karachi stocks Wednesday witnessed variation in trading, however, it closed positive.

The KSE-100 index added 33.57 points to close at 33943.74 points level, with the total volume of 75,784,610 shares. The market recorded the highest trading level of 34036.18 points and lowest level of 33859.41 points. Total volume traded

man nabbed with 10kg narcotics SARGODHA

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he local police Tuesday arrested a drug pusher and recovered 10 kilogramme of narcotics from his possession.

Official sources said that Phularwan police checked a vehicle coming from Peshawar in the jurisdiction of Phularwan police station near Motorway and recovered over 10 kilogram hashish (charas). The police arrested accused Yar Mast Khan, resident of Bajaur Agency.

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in the market was 139,145,070 shares with 358 total traded companies out

of which 147 were up 182 were down and 29 were unchanged. Cable & Elec-

trical Goods was the top traded sector with total traded volume of 19,845,700 shares. It was followed by REFINERY with a total traded volume of 12,914,400 shares. The three top traded companies were Pak Elektron with a volume of 19,211,500 and price per share of 79.86 (3.11), Al-Shaheer Corp with a volume 7,498,000 of price per share of 99.80 (4.66), Descon Chemical with a volume 3,579,000 of price per share of 6.37 (0.10). The top three advancers were RaVhan Maize with price per share 9340.00 (440.00), Khyber Tobacco SPOT with price per share of 489.79 (23.32) and Archroma Pak per share of 441.49 (21.02).

punjab govt to hold int’l Seminar on business opportunities LAHORE

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unjab government is all set to hold ‘International Seminar on Business Opportunities’ in order to enhance export and increase business activities in the province. According to details Chief Secretary Punjab Khizar Hayat Gondal on Tuesday directed the relevant departments to make best

arrangements for International Seminar on Business Opportunities in Punjab. He issued this direction while addressing a meeting at Civil Secretariat through video link from commissioner’s ofVice Rawalpindi.

The meeting reviewed the arrangements for the two-day international seminar scheduled for November 6 and 7. Addressing the meeting, the chief secretary said that the international moot will help highlight investment and business opportunities in the province. He mentioned that there are vast opportunities of investment in Punjab, adding that

all possible measures are being taken to promote foreign investment and economic activities.

Chairman Planning and Development and Secretary Communication and Works gave detailed brieVing about the preparations for the seminar. Chairman Planning and Development Irfan Elahi told the meeting that project-based proposals for foreign investment opportunities in different sectors have been prepared. The Secretary Communication and Works said that as many as 500 foreign and local guests will attend the moot.

carmudi examines the average price of used cars in the region LAHORE

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armudi, the easiest way to sell or buy a car online, analyzed hundreds of thousands of used car listings in order to find out how much consumers are spending on used vehicles globally. The study looked at used car models aged 2008 to 2013 to provide insights into price differences across Carmudi countries.

The average price of a used car in Pakistan is ($15,056), as compared to the Philippines ($16,719), Sri Lanka ($27,966) and Bangladesh ($33,692). This year, Pakistan has experienced positive economic growth, with the country’s economy expected to expand by 2.6% in 2015.

2016 is forecast to see even higher growth at 3.8%. Despite this, car sales remain low in Pakistan when compared to its neighbors. Although Indonesia’s population is 37% larger than Pakistan’s, its auto sales are 626% higher. Local consumers continue to seek more affordable alternatives, such as the motorcycle.

Motorcycles are the predominant mode of transportation in the country. Honda alone sold a staggering 526,327 motorcycles there between July 2014 and April 2015.

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92% pending cases cleared: Qamar inaugurates forensic science lab for NAB ISLAMABAD

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ational Accountability Bureau (NAB) Chairman Qamar Zaman Chaudhary Tuesday said that the Bureau has cleared 92% backlog of cases, which were pending for a long time.

He said around 1,133 cases were lying in old pending list but a deadline for processing pending cases

was set (June 30, 2015) and 74 per cent out of total were cleared in all shapes and forms in July this year.

The NAB chairman revealed this, while addressing an inaugural ceremony of NAB Forensic Science Lab here which has been established and made operational with an aim to equip NAB with latest technology to cater for its emerging needs to eliminate menace of corruption from the society. The chairman said thanks to Bureau’s work force which worked

diligently and achieved 92 per cent clearance of backlog till Virst week of October while remaining cases required further time and assured these would also be cleared soon.

Enumerating the achievements and initiatives of NAB, the Chairman said the Bureau is striving to rid the nation of corruption and corrupt practices by adopting zero tolerance policy across-the-board. He said a concept of combined investigation has been introduced as investigation ofVicers

and prosecution are working as a team to ensure transparency and unbiased investigations. He said a system had been formulated to standardize selection of cases. Priority is being given to cases as per the nature, the amount involved, the social impact and number of affected persons, he said. He said corruption is a plague that has a wide range of corrosive effects on societies. Historically it is evident that only those nations have developed and remained suc-

cessful who have rooted out the menace of corruption and injustice from their societies. “In a similar manner, if we in pakistan want to become a developed nation it can only be possible if we uproot corruption from our society and show zero tolerance against corruption,” he added. The chairman said the experience of 15 years of NAB has shown that struggle against corruption is not the Vight of one man, one institution rather the responsibility lies on every citizen.

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KARACHI aftab channa www.customsbulletin.com

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ederal Minister for Ports and Shipping Senator Kamran Micheal has asked the Karachi Chamber of Commerce and Industry (KCCI) to nominate business leaders for the inclusion into the special committee aimed at resolving issues of importers at the ports.

It is pertinent to mention here that the Ministry of Ports and Shipping had recently formed a committee comprising senior officials of the ministry, customs to resolve the issues of the business community at the twin ports.

The ministry had also sought names from Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry. The Ministry of Ports and Shipping included four members from FPCCI and one member from KCCI that resulted in anger among the business community attached with the KCCI. Kamran Micheal was invited to the KCCI in which business leader Siraj Qasim Teli strongly protested for neglecting the KCCI leaders from the

Thursday, October 22, 2015

committee. At which the federal minister asked the KCCI leaders to nominate more names so that they could be included in the committee. While addressing on the occasion, Kamran Micheal said every Pakistani wishes to see the dream of Prime Minister Muhammad Nawaz Sharif of making Pakistan an Asian Tiger coming true.

The Gawadar Port is being given much

importance and at least 6 flights are being scheduled to the port every week. Besides, some 2281 acres of lands have been acquired at the Gawadar port to establish Gawadar Free Zone. More than 2281 acres of land have been acquired that would be allotted to Chinese and Pakistani investors to establish industries at there, Kamran Micheal added. He added that international airport at Gawadar Port was being set up besides basic facilities were being provided to the industrialists there so that they could do business there. The Ministry of Ports, Shipping has cancelled the allotments of some 193 industrialists plots who were allotted to the industrialists for establishing industries howg ever not a single allottee in e b r port is started work on them. the gawada rtance and “Ministry of Ports and o p given much im s are being Shipping has cancelled the t h ig fl illegal appointments of 6 t s at lea ery v e t more than 350 employees r o p e h t in the Port Qasim Authorscheduled to some 2281 s, ity and Karachi Port Trust. week. beside ave been Besides, verification of sh other employees was being acres of land gawadar underway and those who do e h t t acquired a not have valid documents would be terminated from jobs�, the minister said.

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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

issue of capacity building

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he world is heading toward an era of economic development and prosperity. The third countries are changing their policies to keep up pace with the developed economies, but the governments in Pakistan, whether the federal or the provincial, have failed to take revolutionized approaches to deal with emerging situations. The aged-old colonial legacy is dominating in every government department where the senior officials are only interested in drawing hefty perks and salaries without fulfilling their official responsibilities while the lower staff is underpaid and lethargic and has no ability to work in proper manner.

The political leadership has its own merits and demerits as well as limitations. What Pakistan needs to do is to overhaul the entire official system and engage educationists, technocrats and economists to encourage holding of regular workshops and seminars for the capacity building of the government officials.

A comprehensive reforms programme is the need of the hour, covering social, political, economic and industrial sectors. In the current situation, the government only works to comply with the IMF and World Bank conditionalities. The worst part of the situation is that, it wants to meet the requirements of the donor agencies through official circulars without devising a proper mechanism to implement its policies. According to newspaper reports, referring to a vast pool of natural resources, a strategic geographical location and a large number of population comprising young generation, World Trade Organisation (WTO) Deputy Director General Frederick Yonov Agah says that the country needs to introduce reforms and adopt appropriate policies to utilize all its potentials. He says that the challenges before the government are to improve business climate, liberalize trade regime and try to make a close liaison with the global economic community. He says though it is up to the member states to remove non-tariff barriers, a number of tariffs have been reduced all over the world and even some countries have opted for unilateral liberalization of their economies.

As a matter of fact, all the problems can be described in one sentence. Pakistan needs to enhance capacity building of the government officials through rigorous reforms not only for business, trade and investment activities, but also for the official hierarchy. If there is security problem, it needs to enhance capacity of the civil law enforcement agencies such as police department while capacity of the civil intelligence agencies also needs to be enhanced. Most of the terrorism incidents occurred due to intelligence failure.

economic reforms in provinces A

LAHORE

Dr aftab afZal

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ccording to newspaper reports, the provincial governments are ready to introduce Doing Business Reform Plans in their respective jurisdictions in consultation with the Federal Ministry of Finance. Finance Minister Ishaq Dar has formed a committee comprising the representatives from the federal and provincial governments to share policy initiatives and discuss progress on the Doing Business Reform plans to attract foreign investment in the country. At the Virst stage, Punjab, Khyber Pakhtunkhwa and Balochistan will Vinalise their respective reform plans and meth-

ods of implementation within a speciVic timeframe. In the second stage, the World Bank will be informed about details and methodology of the proposed plans to remove any reservations of the donor agency. The federal and provincial governments will also share lists of potential public sector contributors. The provincial reform plans will initially focus on short term goals which could be achievable in one year while the next medium term plan will take up to three years to implement the plan and develop conducive environment for foreign investment. A strong monitoring mechanism will also be devised to track process of development and progress on the reform plans. The provinces are free to launch economic and

industrial plans after the 18th Amendment and the provincial governments are required to share responsibilities with the federal government which should have a role of just guardian.

The Sindh government is already taking short, medium and long term measures to work out different modalities to implement the reform plan. There is a need to utilize potentials of the public sector contributors and identify impediments in way of industrial growth, especially in the export oriented industries. Though the federal and provincial governments have introduced one window operations to facilitate the business community, but there is a need to curtail the number of laws which some time overlap

and create confusion in the minds of the ofVicials and the entrepreneurs and become a hurdle in the way of in industrial development.

The current situation is that the small and medium enterprises have to comply with a multitude of laws and the government agencies. The time has come the provincial chief executives should accept responsibilities and face economic challenges with a brave heart. Provinces are now independent to launch their own development plans and create business friendly environment in the respective jurisdictions.

Every province should ensure transparency in its financial matters and launch industrial plans in collaboration with local and foreign investors.

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Paapam raises concerns over import of used tractors KARACHI: The manufacturers of auto parts have raised concerns over the import of used tractors, saying that the action would destroy the local industry.

Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Chairman Mumshad Ali, in a statement, said that a huge employment base would experience a severe blow due to the import of used tractors. “After having suffered losses in the import of used cars already, the government should not step into the similar venture again as it would create big issues for the tractor industry and farmers alike,” he added.

The Paapam Chairman said that the local tractors industry, which is heavily underutilized at the moment, is already producing best quality tractors as per global standards that are also cheapest in the world, therefore, allowing imports would put a further dent on the exchequer.

lcci for early completion of power projects conomic growth is directly linked with energy therefore government should take every possible initiative to ensure cheap and sufficient electricity for the manufacturing sector otherwise it would not be able to achieve the desired economic goals.

This was stated by the President of the Lahore Chamber of Commerce and Industry (LCCI) Sheikh Muhammad Arshad, Senior Vice President Almas Haider and Vice President Nasir Saeed while speaking at the meeting of LCCI Executive Committee here on Tuesday.

They said that power outages have become a bigger threat for the growth of manufacturing sector that is the base of economic structure of the country.

The LCCI office-bearers that business community does not have any doubts about the seriousness of present regime in solving the energy crisis as it has already started a number of power projects but there is a dire need of their completion in the shortest possible time as an acute shortage of electricity is hitting the economic activities hard.

The LCCI President Sheikh Muhammad Arshad said that the timely completion of hydropower projects was vital for mitigating water and power shortfall. They said that due to longer hour power cuts the investment scenario is being spoiled in the country and so much so existing industrial units have curtailed their productions.

He said that government should exploit all available options to stop unscheduled power cuts which are hitting the economic activities hard.

He said that prolonged power outages in the industrial areas are jacking up the graph of unemployment particularly hitting the daily wagers hard.The LCCI president said that the most of industrial units had already reduced their working hours.—CBReport

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Thursday October 22, 2015

Chambers

resolution of Kashmir dispute key to promote trade with india: icci P

ISLAMABAD

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resident Islamabad Chamber of Commerce and Industry (ICCI) Atif Ikram Sheikh strongly rebutted a statement attributed to his interview by an Urdu Daily that trade with India be started by putting aside Kashmir and other political issues.

He said resolution of Kashmir dispute was a key to promote trade with India as without settlement of this longstanding issue, it was not possible to promote bilateral trade between the two countries.

He said there was no doubt that Pakistan and India have immense potential to promote bilateral trade, but for this to happen, it was essential to settle all issues between the two neighbors including Kashmir issue. Atif Ikram Sheikh said India being bigger neighbor should show magnanimity and come forward to seek a settlement of Kashmir dispute that should be acceptable to all stakeholder parties.

He also showed great concerns over the activities of Hindu extremist Shiv Sena for storming the BCCI

Headquarters to stop the cricket talks between Pakistan and India.

He said such trends were disappointing and should be curbed as tense relations between the close neighbors would not beneVit their

people in manner.

Meanwhile, Pakistan Electronic Media Regulatory Authority (PEMRA) has invited businessmen to explore investment opportunities in the forthcoming Direct to Home

St Johns County Chamber to share Record building

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NEW YORK

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he Record has reached an agreement to add the St. Johns County Chamber of Commerce and St. Johns Volunteers! as tenants of the building, effective Dec. 1.

Customers of The Record will still be able to access the building during normal business hours just as before. Operations for the newspaper at the building will remain unchanged. Record publisher Delinda Fogel said she’s comfortable with The Record’s alignment with its new tenants. “It was just a nice Vit,” she said. “The three entities, we all want to make St. Johns County a better place.” Due to the size of The Record’s ofVice, the company has a history of leasing space to others.

Currently, the radio station 105.5 FM The Beach, owned by Flagler

Broadcasting, broadcasts from the building. Episcopal Children’s Services is a former tenant.

“We just need to make the best use of the asset we have,” Fogel said.

The Chamber recently sold its building at 1 Riberia St. and will be moving into The Record building while it transitions into a new way of operating. “We are eager to move into a more suitable ofVice space in the St. Augustine Record building,” said Isabelle Rodriguez, president of the Chamber, in an email. “We are working diligently and making great progress on our three-year plan to modernize the Chamber’s programs and services. “The sale of our St. Augustine ofVice and our move into what will likely be a temporary space is one more step toward our goal of creating a co-work concept space for our members, staff and the business community at large.”

Meanwhile, This week Proposition

1 gained the support of Caribbean Chamber of Commerce, which joined the Houston Unites campaign as an ofVicial coalition partner. “The Chamber is proud to represent the Caribbean Community and believes that all people should be respected and be treated equally, no matter what and where they came from,” said Sijollie Braham, President of the Chamber. “This November, Houstonians have an opportunity to take charge and send a clear message: we embrace our international diversity.”

The Caribbean Chamber of Commerce’s support comes after Houston Unites Field Organizer Sissi Yado presented to the board and members in a special meeting. Following, the board voted unanimously in favor of supporting Proposition 1. “Having a conversation with the Caribbean international community living and doing business in Houston has been a priority for our campaign,” said Sissi.

(DTH) service which was a digital satellite distribution platform for delivery of television channels directly to viewers/consumers without the need for any intermediary.

The invitation was extended by Wakeel Khan, Director General, PEMRA while giving presentation on DTH services to the business community at Islamabad Chamber of Commerce and Industry.

He said PEMRA intended to grant up to three non-exclusive DTH distribution services licenses to provide a wider choice to the Pakistani people as an alternate mode of delivery of satellite TV channels through satellite. He said this service was state-ofthe-art in broadcasting and distribution technologies with number of advantages including enhanced channel carrying capacity, better quality of picture & sound, value added services and other features. Wakeel Khan said DTH has a lot of market potential for investors as with only 2 million subscribers, the service was expected to earn annual income of Rs.12 billion. He hoped that DTH will contribute to more revenue generation, employment generation and speedy return on investment.

milton Keynes chamber to host business exhibition Business Exhibition showcasing companies in Milton Keynes is to be held by Milton Keynes Chamber of Commerce. The Chamber’s second exhibition of 2015 will take place at Mercure Abbey Hill, Two Mile Ash on Friday 20 November. The free to attend exhibition will see 20 stands representing a wide range of products and services offered by local businesses.

Running alongside this will be a networking lunch and free to attend seminars on key business topics: Tracey Branson, Head of Operations at Milton Keynes Chamber, said: “This is a wonderful opportunity for firms to raise their profile, meet with like-minded businesses..—CBReport

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MS Arabia to launch Office in 2016 in Kingdom Thursday October 22, 2015

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RIYADH: Microsoft Arabia has launched Office 2016 in Saudi Arabia, which is the latest addition to Office 365, Microsoft’s cloud-based subscription service.

The company also announced new and enhanced Office 365 services built for team productivity, said a statement.

Samir Noman, president of Microsoft Arabia, said: ”The way people work has changed dramatically, and that’s why Microsoft is focused on reinventing productivity and business processes for the mobile-first, cloud-first world.”

Ammar Abuthuraya, Applications and Services group manager at Microsoft Arabia, added: “These latest innovations take a huge step in transforming Office from a familiar set of individual productivity tools to a connected set of applications and services that would reinvent productivity at the modern workplace.

ireland revenue officers seize €5.25m in illegal cigarettes cuStomS bulletin report www.customsbulletin.com

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Dubai customs revamps its official website he Dubai Customs (DC) has revamped its website (www.dubaicustoms.gov.ae) in accordance with the integrated service delivery requirements of the Dubai Smart Government (DSG) and international best practices.

The launch, marking the DC’s ongoing smart transformation, came during the department’s participation in this year’s Gitex technology week under the motto ‘We innovate to facilitate trade’. The upgrading of the DC website is aimed at ensuring more accessibility and user-friendliness for customers, including users with special needs. —CB Report

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GENEVA

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lmost 10 million illegal cigarettes worth more than €5.25 million were seized

by Revenue ofVicers with the support of An Garda Síochána in Slane, Co Meath.

A container of the American Legend brand cigarettes, which had travelled from Vietnam via Singapore and Rotterdam, arrived into Dublin Port last Thursday.

The container was described on the manifest as “timber furniture”.

The cigarettes seized on Monday represent a potential loss to the exchequer of about €4.2 million.

Investigations into the importation of the cigarettes is ongoing.

Monday’s seizure in Slane was part of Revenue’s ongoing operations targeting the supply and sale of illegal cigarettes.

Meanwhile, Revenue OfVicers have seized 56,000 cigarettes with a value of almost 30,000 euro at Dublin Airport.

The ‘L&M’ and ‘Marlboro’ brand cigarettes were found in the luggage

Swiss watch exports fall 9.9% in September

of four Romanians who had arrived on a Vlight from Istanbul.

The four men, all in their 30s, are due before the Criminal Courts of Justice later. In a separate operation in Macroom, Cork Gardai and Revenue OfVicers seized almost €7,000 of unstamped cigarettes and tobacco. The ‘Palace’ cigarettes and ‘Amber Leaf’ tobacco were found in a UK commerical vehicle.

Two men in their 40s from Northern Ireland were arrested, one has since been released.

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Meanwhile, Cocaine and cannabis with an estimated value of 750,000 euros (£550,000) has been seized by police in the Republic of Ireland. The drugs were found during a planned search of a property and vehicles in Irishtown, County Dublin, on Saturday.

A man in his late 40s was arrested at scene. He was released without charge on Saturday night.

A police spokeswoman said a Vile will be prepared for the Director of Public Prosecutions.

tata Steel to axe 1,200 jobs in uK

anufacturer Tata Steel announced 1,200 job cuts in the UK on Tuesday, underscoring the damage caused by cheap Chinese imports and throwing a shroud over a state visit by Chinese President Xi Jinping designed to usher in a “golden era” of relations between the countries.

Tata blamed the layoffs in north-

ern England and Scotland on a “flood of cheap imports, particularly from China,” along with high electricity costs and the strong pound.

Though the cuts had been rumored for days, the timing of the announcement on the first full day of Xi’s visit seemed designed to win maximum attention.—CB Report

wiss watch exports posted the biggest quarterly drop since 2009 in the third quarter as plummeting sales in China spread to other Asian markets in September.

“After May and July, September is the third month to show a marked decline in Swiss watch exports,” the Federation of the Swiss Watch Industry (FH) said yesterday.

“This negative change has spread to other, hitherto more robust Asian markets, and casts something of a shadow over prospects for the year 2015.” Watch exports were down a real 8.5 percent for the third quarter after falling 9.9 percent in September and 10 percent in July, the Federal Customs OfVice said yesterday.

Sales in Asia declined 12.7 percent in September, as continued drops in China’s mainland, Hong Kong and Singapore were compounded by sharp turnarounds in

Taiwan and Emirati sales and a dive in South Korean sales from negative 3.7 percent in August to negative 35 percent in September.

Analysts at Kepler Cheuvreux said the poor performance could be pegged to tough comparables in the previous year and continuing effects of a deadly MERS virus outbreak earlier this year. Apple Watch threat At 1.81 billion Swiss francs (US$1.91 billion), September watch sales abroad signiVicantly undershot analysts’ expectations, posting declines that were double to triple what analysts had forecast. Timepieces in all price segments were impacted, but watches in the low-to-mid segment suffered the biggest hit. The 200-500 franc export category slipped 14.5 percent, igniting concerns that the Apple Watch could Vinally be taking a bite out of the Swiss industry’s stake.

On Friday, Bank Vontobel released a sector report highlighting Swatch Group’s particular smartwatch exposure, with its mid-range brand Tissot and lower range own label, Swatch.

police foil attempt to smuggle 30kg ketum leaves

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olice foiled an attempt to smuggle out 30kg ketum leaves to Thailand using a three-wheeled motorcycle at Kampung Kolam here yesterday.

It was learnt that a team from Border Intelligence Unit were carrying out surveillance in the area when it spotted a group of people gathered in a suspicious manner at a rubber plantation around 4.30am.

The group immediately scattered into the plantation when the team approached and introduced themselves. However, the team managed

to arrest one of the suspects, aged 31, and seized a three-wheeled motorcycle loaded with four sacks of ketum leaves. State Narcotics Crime Investigation Department chief Deputy Superintendent Azizan Said estimated the streets value of the seized ketum leaves at between RM1,800 and RM2,400. He said the suspect, a local, was being detained to facilitate investigation under Section 30 (3) of Poison Act 1952 which carries up to four years jail or a maximum Vine of RM10,000, or both, upon conviction.—CB Report

Hungary Customs officers detained for taking bribe at border

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BUDAPEST

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ungarian prosecutors say 21 police ofVicers working at a border crossing with Ukraine have been detained, suspected of regularly taking bribes from foreigner travelers and allowing them to enter or leave the country illegally.

Chief Prosecutor Imre Keresztes said Tuesday in a statement that 30 police ofVicers had been questioned after a raid Monday at the Zahony border crossing, with several admitting responsibility.

A passport control ofVicer had 950 euros ($1,080) in his underwear and prosecutors conViscated several thousand euros and millions of forints during searches of 39 loca-

tions, including the border checkpoint building. Prosecutors said bribes ranged between 20 and 100 euros ($23-$114), with travelers handing the cash to customs police inside their passports. Prosecutors said ofVicers would hide bribes in their underwear. Meanwhile, A French trade delegation made up of 50 heads of French companies is expected in Nigeria next week to ex-

plore business opportunities and establish bilateral links in the country.

A statement by the French Embassy noted that the business delegation is the Virst of a kind from France to any African country. According to the statement by Georges Vanin, First Counsellor, Political Affairs and Communication, Embassy of France, the delegation is organised by the Movement of the Enterprises of France.

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Canada resumes imports of EU beef after 19-year ban OTTAWA: Canada has reopened its market to beef from the European Union, 19 years after it blocked all imports because of mad cow disease. According to release from the European Commission in Brussels, Canada has reauthorized the import of beef from 19 member states. The commission said it is working with member states to resume exports of beef and re-establish ties to the Canadian market. EU beef producers have seen reduced opportunities this year because of the closing of Russian markets to their products. According to the European Commission, Canada audited meat inspection systems in four EU states before agreeing that the EU had taken steps to ensure bovine spongiform encephalopathy had been eliminated from European animals.

Singapore port container volumes fall 13.5% to 2.43m teu in Sept he port of Singapore has recorded a fall in container throughput in September, according to preliminary estimates released by the Maritime and Port Authority of Singapore (MPA) on Tuesday.

Container throughput moved in September was recorded at 2.43m teu, a decrease of 13.5% compared to the previous corresponding period, MPA data showed.

Last month’s volumes also dipped by 4% compared to 2.53m teu registered in August this year.

From January to September 2015, Singapore port handled a total throughput of 23.5m teu, representing a 6.5% year-on-year decrease. Singapore is currently trailing behind Shanghai, the world’s busiest container port, which posted volumes of 27.4m teu in the first nine months.—CB Report

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uK chamber meets with Shipping minister to push case for mca reform he CEO and Policy Director of the UK Chamber of Shipping met with the Shipping Minister, Robert Goodwill MP this week as part of their regular programme of meetings with political stakeholders.

Top of the agenda was the reforms of the MCA, highlighted by chamber members and industry leaders from around the world as being vital to reverse the decline of the UK flag.

The Minister confirmed that the recruitment process for a Commercial Director at the MCA, who will lead the charge in finding ways of making the UK Ship Register more attractive, is well in hand.

UK Chamber CEO Guy Platten said: “Reform of the MCA was a key recommendation in the recent Maritime Growth Study, in response to the fact that the flag has declined by 36% in the past 5 years.—CB Report

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Ports & Shipping

h Kong port container volumes dip 6.7% to 1.67m teu in Sept

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here was no let up for the port of Hong Kong in the month of September as container volumes fell for the 15th consecutive month.

Figures just released by the Hong Kong Port Development Council show a 6.7 percent decline in yearon-year throughput to 1.67 million 20-foot-equivalent units for the month of September. The Kwai Tsing terminals recorded a double-digit decline in throughput of 14.2 percent to 1.2 million TEUs, while the river trade and mid-stream operations saw throughput grow by 21.6 percent to 460,000 TEUs. On a year-to-date basis, Hong Kong has suffered a cumulative decline of 8.1 percent in throughput to 15.48 million TEUs, with the terminals at Kwai Tsing accounting for 11.86 million of the total and the remaining 3.6 million boxes handled by the river trade and mid-stream portion. Historical data for Hong Kong’s port volumes can be found on JOC.com’s Market Data Hub. In contrast, September data just released by Cosco PaciVic show a 4.4

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percent year-over-year increase in throughput at Yantian International Container Terminals in Shenzhen to 1.185 million TEUs. YICT recorded a cumulative increase of 6 percent to 9 million TEUs for the first nine months of the year.

Once the world’s busiest port, Hong Kong’s market share of direct exports has been steadily eroded by the terminals across the border.

The last time a positive growth in

volumes was recorded was in June of 2014. Hong Kong is currently the world’s fourth-busiest container port but may be surpassed by Ningbo-Zhoushan this year, which expects its throughput to hit 22 million TEUs. One of the greatest problems for the terminals at Kwai Tsing is the lack of back-up land in the container yards that was identified in a government-commissioned port masterplan 12 years ago.

foreigners can now own up to 49% stake in nakilat akilat’s LNG shipping Vleet is the largest in the world with some 63 vessels.

Foreign shareholders can now hold up to 49% in Nakilat listed on the Qatar Stock Exchange. Qatar Central Securities Depository (QCSD) has amended the foreign ownership limit (FOL) in the shares

of Nakilat up to 49% of capital, as at the end of yesterday’s trading session, a spokesman of the QSE said, conVirming the development. Nakilat LNG vessels BIG The QCSD explained that this amendment comes in implementation of Law No (9), which allows foreign investors to own a percentage not more than 49% of

each company listed on the domestic bourse. The law also provides for the treatment of the Gulf Cooperation Council citizens as Qataris in terms of owning the shares of the listed companies. This move comes after Nakilat received an approval from its general assembly to amend the articles of association.—CB Report

Thursday October 22, 2015

mmc to acquire 53.4% in ncb for rm1.1b MC Corp Bhd plans to take full control of Northport operator NCB Holdings Bhd. MMC, which already holds a 30.13% stake in NCB, is buying the combined 53.42% stake owned by Permodalan Nasional Bhd (PNB) and AmanahRaya Trustees Bhd for RM1.105bil, or RM4.40 per NCB share.

In a filing with Bursa Malaysia, the utilities and infrastructure group said on completion of the proposed purchase, its unit MMC Port’s shareholding in NCB would rise to 83.55% and hence MMC Port would make a mandatory general offer for the remaining NCB shares it did not already own at RM4.40 apiece.

NCB shares rose 1 sen to close at RM4.41 on Monday. The price has trended upwards since early June, gaining about 57%. MMC said it did not intend to maintain the listing status of NCB on the Main Market of Bursa Securities. On the rationale for the proposed acquisition, the company said it was in line with the board’s initiative to make further strategic investment in MMC’s core business of ports and logistics division, to strengthen the financial position of MMC and its subsidiaries. “MMC Group expects the proposed acquisition to contribute positively to its future earnings and will help in maintaining its position as a key player in the ports industry in Malaysia as well as providing a good opportunity for MMC Group to further strengthen its foothold in NCB, an established company in the port industry,” it said.—CB Report

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Singapore’s MPA to promote more company listings in SGX

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SINGAPORE

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he Maritime Port Authority of Singapore (MPA) has formed a working group to promote more maritime listings on the Singapore Stock Exchange (SGX).

The work group, which also includes members of the Singapore Shipping Association (SSA) and SGX,

aims to make Singapore a leading maritime Vinancial hub.

SSA president Esben Poulsson said, “130 international maritime companies are located in Singapore and about 5,000 vessels are registered to the city-state; there is plenty of opportunity for the SGX to see maritime sector growth.”

He believes the SGX has the opportunity to play a bigger role than stock exchanges in New York and

Oslo amid the softened global maritime equity market.

At present, the SGX has 62 maritime listings worth approximately SGD45 billion (USD32.5 billion), including 14 shipyards, 12 shipping companies, 3 shipping-related business trusts, and 33 offshore services companies.

Since 2013, the SGX has listed almost 70 maritime cluster bonds, raising more than SGD18 billion

(USD12.9 billion) for Singaporelisted maritime entities from bond and equity markets.

From January to September 2015, Singapore port handled a total throughput of 23.5m teu, representing a 6.5% year-on-year decrease. Singapore is currently trailing behind Shanghai, the world’s busiest container port, which posted volumes of 27.4m teu in the Virst nine months.

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FBR opposes proposal of MOIP for 1500cc vehicles ISLAMABAD: The Federal Board of Revenue (FBR) has opposed the proposal for the establishment of new plants for the 1500cc vehicles.

According to sources, the Ministry of Industries and Production (MOIP) has proposed the establishment of new plants for the 1500cc vehicles and also proposed to decrease the prices for 1500cc vehicles in the new auto policy. On the other hand, the FBR has opposed the proposal prepared by the MOIP and said that Pakistan has already low prices of 1500cc vehicles as compared to India.

Thursday, October 22, 2015

CUSTOMS BULLETIN

fbr told to bring policy reforms to curb smuggling LAHORE m haYat

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he Senate Standing Committee on Finance, Revenue and Economic Affairs has directed the Federal Board of Revenue (FBR) to bring policy reforms, decreasing the import duties on different goods in order to curb smuggling in the country, sources said.

The sources said that the committee with Senator Saleem H Mandviwala in the chair directed the FBR to speciVically look into the matter of smuggling of petroleum products and plastic from Iran and other huge material from Afghanistan border. “According to a World Bank report, during last nine years Pakistan had to bear loss of $24 billion by smuggling only through Afghan Transit Trade,” Senator Saleem Mandviwala was quoted as saying. Chairman Federal Board of Revenue Tariq Bajwa informed the committee that although it was really difVicult to check a long and hard 2500 kilometer long border line, but still the government was initiating a number of measures to reduce smuggling. He said an agreement

signed with the Afghanistan government in order to ensure payment of duties on all goods being transported

to and from Pakistan. He said the implementation on the agreement would be started by January 2016. On

the issue of Iranian oil being smuggled to Pakistan, Tariq Bajwa said despite limited resources the customs man-

aged to arrest 130 smugglers during last one and half year and seized nine million liter of Iranian petrol.

SHC orders customs to release embroidery machines, servomotors KARACHI

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he Sindh High Court (SHC) on Tuesday ordered provisional release of a consignment of servomotors and embroidery machines.

A division bench of SHC directed the importer to deposit differential amount of duty and taxes with Nazir of the court.

Petitioner Muhammad Ramzan

submitted that the Directorate General of Customs Valuation had issued a Valuation Ruling No. 750/2015 for assessing the value of household sewing machine motors and servomotors. The valuation rates of the imported machines and motors have been increased substantially and therefore, he has Viled an appeal for review of the ruling which is pending decision.

He said that his consignment of 24 sets of embroidery machine and 25,000 sets of servomotors have arrived at the port. Since the new valuation ruling has been im-

pugned the consignment be released as he was ready to deposit differential amount of duty and taxes with Nazir of the court.

Meanwhile, The Sindh High Court (SHC) on Monday directed Pakistan Customs’ additional collector licensing to decide on November 27 the case of clearing agents – Great Easter & Co and Maha TauViq Impex, whose licenses have been blocked after registration of a case against them for evasion of Rs 3.6 million in duty and taxes. A division bench of SHC gave these directions while hearing the petitions Viled by clearing

agent Great Easter & Co and Maha TauViq Impex, seeking to unblock their NTNs and Web Based One Customs (WeBOC) User IDs. The petitioners’ counsel submitted that according to the FIR, the importers of EPZ with help of various investors and customs clearing agents, including the petitioners, imported and got cleared goods by fraudulently reducing assessed duty and taxes at the time of issuance of cash number and then deposited less amount of duty and taxes to the tune Rs 3.69 million. Subsequently, the petitioners’ counsel said, the case was

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lodged against his clients and others. He told the judges that after registration of the case, his clients’ NTNs and user IDs were blocked without following legal procedure.

Therefore, the petitioner pleaded with the court to issue directives for the respondents to unblock their NTNs and user IDs. To a query, the counsel told the court that the case pertaining to blocking of the petitioners’ licenses was fixed for hearing on November 27 and requested that the additional collector licensing be directed to decide the matter swiftly.