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pAkiSTAN’S FirST iNDepTH NewSpAper oN CuSTomS
Daily
Vol 1 Issue No. 216
Karachi, Tue October 27, 2015
KARACHI
AFTAB CHANNA
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he Pakistan Customs has decided to install trackers on the containers having Transshipment Permit (TP) for the dry ports, which aims at ensuring containers and goods do not get pilfered on the way to upcountry dry ports. Chief Collector En-
forcement-South, Zahid Khokhar told Customs Today, that the online system would be put in place in coming months. The whole tracking system would be closely monitored through a well-developed system Web Based One Customs (WeBOC) from Custom House. “Pakistan Customs will keep vigilance of the movement of containers starting from the ports all along the route up to the dry ports. If, a container is off track, an
Price Rs. 14.00
alarm in the system would be ringing while the nearest customs authorities would be directed to go after the container and check it”, Khokhar added. The tracking of containers would avoid mega scams and smuggling that happened in the past. “We have constituted a committee while bids have been received for the installation of trackers on the containers”, he concluded.
Director Saud’s Customs Intelligence seizes items worth Rs 90m in first
Multan Customs Intelligence clears suspicious truck loaded with scarp
K-Electric secures $ 250 million financing from OPIC
Customs Preventive seizes 190,000 liters Iranian diesel from July to Oct
Belarus to explore investment opportunities in Pakistan
Customs Intelligence Lahore has seized contraband goods and vehicles Rs 90 m | See pAge 02 |
CustomsIntelligenceMultanregionhas clearedasuspectedtruckinvolvedinengine | See pAge 03 |
K-Electric Limited and the“OPIC”, the U.S. govt’s development finance institution | See pAge 04 |
MCC Anti-Smuggling has seized 1,90,000 liters Iranian diesel during the period | See pAge 12 |
The Belarusian ambassador Dr. Andrei M Ermolovich said that a large business | See pAge 09 |
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Customs seizes non-duty paid cigarettes near Swabi Tuesday, October 27, 2015
National
ISLAMABAD: The Directorate Intelligence and Investigation Inland Revenue of Federal Board of Revenue (FBR) has seized two trucks loaded with non-duty paid smuggled cigarettes near Swabi during the last two days. According to details, during the crackdown against the smuggled and non-duty paid cigarettes, a team of Customs Intelligence and Investigation Inland Revenue intercepted a truck at Swabi and recovered local made 308 cartons of “President Brand”, cigarettes. The Customs team inquired about the invoices regarding possession of cigarettes but the driver produce forged invoice named with Zaman Traders.
Director Saud’s Customs intelligence seizes rs 90m items
Sare-e-muhajar ASo impounds non-duty paid Toyota Vitz
LAHORE
FAISALABAD
NAeem SHeikH
m HAYAT
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ustoms Investigation and Intelligence Lahore has seized contraband goods and vehicles worth above Rs 90 million during Qirst quarter (July-September) of Qinancial year 2015-16, ofQicial data revealed to Customs Today. According to the details, Customs Intelligence on the directives of Director Saud Imran conducted various operations and seized Qive vehicles worth Rs 7.40 million involving duty and taxes worth Rs 5.907 million. On the other hand, it seized 45,774 yards of illegally imported cloth worth Rs 3.183 million, cartons of tea worth Rs 36,000, tyres and tubes worth Rs 13.111 million, auto parts worth Rs 3.836 million, engine oil and grease drums worth Rs 5 million and cigarettes, electronic goods, blankets, pan prag, gutka and miscellaneous goods worth Rs 57.748 million. The goods were seized from various areas of Punjab. The operations were conducted under the guidance of Deputy Director Saad Atta Rabani and were supervised by Superintendents Nasir Minhas, Rauf Farooqi and RaQiq Bhatti. Meanwhile, Director Customs Intelligence and Investigation Punjab Saud Imran visited Multan and held a meeting with MCC Multan Collec-
he Customs Anti Smuggling Organization (ASO) Sara-eMuhajar which falls in jurisdiction of Model Customs Collectorate Faisalabad, has impounded a Toyota Vitz worth Rs 865,049 involving duty/taxes amounting to Rs 415,039. An ASO team, following the directions of Collector Faisalabad Customs Dr Zulfiqar, intercepted a vehicle bearing Registration No AXE162 near bridge No. 214 MM Road, Bhakkar. The officials asked the driver namely to produce the documents showing the legal possession of the vehicle. But he could not show any documents on which the customs officials took the vehicle into custody under Section 156 (I) of the Customs Act 1969. On the other hand, ASO has sent contravention report in this regard to the Customs Adjudication for further legal proceedings. ASO team comprising Deputy Superintendent Muhammad Sardar, Inspector Muhammad Munir Ahmad, Sepoy Muhammad Abdullah, Asrar Ahmaed and Liaqat Ali and Driver Afzal Hussain participated in the raid.
tor Sarfraz Ahmad Warraich in Customs House. During the visit, he discussed the steps for joint operations and stressed the need for coordination
between Customs Intelligence and Anti-Smuggling Organization to curb smuggling from region. Both departments agreed that mutual coordination and sharing of in-
formation are required to act against smugglers to curtail the smuggling. Better coordination will give much fruitful results against smugglers in southern Punjab.
Income tax commissioner’s case dismissed due to non-prosecution T
ISLAMABAD
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he Islamabad High Court (IHC) dismissed case filed by commissioner income tax, Islamabad due to non-prosecution. IHC Division Bench, comprising of Justice Shuakat Aziz Siddiqui and Justice Athar Minallah
was hearing the case. he tax commissioner had made Masood Kamran party in the case. During the course of proceedings, the bench also dismissed a case filed by Collectorate of Customs, Islamabad against Afzal Corporation and others. Meanwhile, The Islamabad High Court (IHC) has adjourned the hearing of eight cases filed against the Federal Board of Revenue (FBR) till November 15. The IHC single bench, compris-
ing of Justice Justice Athar Minallah heard the cases and adjourned after brief arguments. The FBR was made respondent in the cases filed by Zaver Petroleum Corporation, Pakistan Oilfields Limited, Government Holding Private Limited, Mari Petroleum Company Limited, OMV Maurice Energy Limited, OMV Pakistan Exploration GMBH, Attock Oil Company Limited, Rally Energy Safedock Limited and , two cases by OGDCL
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FBR establishes committees to resolve traders issues SIALKOT: The Federal Board of Revenue (FBR) has established regional committees in all major cities, including Sialkot, covering issues of withholding tax on banking transactions, filing of returns and resolving business community’s issues of sales tax and income tax. According to a notification issued by the FBR here, the committee will comprised of Chief Commissioner RTO Sialkot Syed Imran Raza Kazmi, while Mahar Ghulam Mujtaba, Ehsanul Haq and Khalid Pervaiz Javaid Butt will act as members. The notification says that the communication, income tax and sales tax committees have been established at the regional level to improve co-ordination between regional offices of the FBR.
FBr issues final show-cause notice to Addl Commissioner mustafa kamal ISLAMABAD
SHAHiD miNHAS
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he Federal Board of Revenue (FBR) has issued a final showcause notice to Additional Commissioner Inland Revenue (IR) RTO Karachi Muhammad Mustafa Kamal on corruption charges. According to the final show-cause notice, Muhammad Mustafa Kamal (IRS/ BS 18), during his posting as Additional Commissioner IR Karachi, committed the acts of omission and commission constituting “inefficiency, misconduct and corruption”. The showcause notice added that an inquiry committee comprising Lubna Farrukh Mirza (IRS BS 21), Chief Commissioner IR RTO II, Karachi.
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Dar to announce ‘anti smuggling package’ soon KARACHI
AFTAB CHANNA
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ederal Finance Minister Senator Ishaq Dar would soon announce the anti smuggling measures under ‘Anti Smuggling Package’ aimed at containing menace of smuggling in the country, Customs Today learnt. “The finance minister would announce the Anti Smuggling Package in the month of November or December”, according to sources. “Ishaq Dar has been nowadays busy in holding series of meetings with the International Monetary Fund IMF representatives while the FBR has been working on the package that would ensure stoppage of all kinds of smuggling in the country”, the sources added. In this regard, the Federal Board of Revenue (FBR) installed Zahid Khokhar as Chief Collector of the Enforcement South region.
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Tuesday October 27, 2015
National
multan Customs intelligence clears suspicious truck loaded with scarp MULTAN
imrAN ALi
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ustoms Intelligence and Investigation (CII) Multan region has cleared a suspected truck involved in engine smuggling which earlier had been taken into the custody by Dera Ghazi Khan (D.G.Khan) police. As per details, the DG Khan police intercepted a truck and asked the truck driver to produce legal proof regarding the loaded material on the truck. The loaded stuff were being transported from Quetta to Lahore under the cover of scrap material. After investigation, it was revealed that there is only scrap loaded on the truck and the driver has the documentary proof for the loaded material. Therefore, Customs Investigation has cleared the truck. Meanwhile, The Customs Intelligence and Investigation Multan has seized smuggled goods worth Rs 11 million from Sadiqabad region during a crackdown. Directorate of Customs Intelligence and Investigation seized miscellaneous goods, including 500 tyres of the light trafQic vehicles and heavy trafQic vehicles loaded on the truck. Customs Intelligence and Investigation staff also recovered imported parachute cloth of 3250 kilogram during the action against the smuggled goods. A huge quantities of welding rods were also found in the miscellaneous goods. The weight of the
smuggled rods was 2800 kilograms. Steel Connector max was also recovered from the seized goods. The weight steel connector max was 2880 kilogram. Around 600 motorcycle chains of 600 kilograms were recovered from miscellaneous goods during the operation. The said goods were brought through unauthorized routes by way of smuggling in the country. The recovered goods have been formally seized under the Customs Act, 1969 and FIR has been
After investigation, it was revealed that there is only scrap loaded on the truck and the driver has the documentary proof for the loaded material.
FBR collects Rs 119.3b on telecom subscribers KARACHI
AFTAB CHANNA
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he Federal Board of Revenue (FBR) collected Rs 119.3 billion taxes from telecom services’ users during the Fiscal Year 2014-15. The sources told Customs Today that General Sales Tax (GST) forms
the major part of the contribution with Rs 45.8 billion collected by Federal Board of Revenue from telecom sector. A huge sum of Rs 73.5 billion had been paid by the public for using telecom services in terms of custom duties, withholding tax and other taxes in Fiscal Year 2014-15. While, telecom operators paid Rs 7 billion under various heads such as initial and annual license fee, annual spectrum administrative fee, numbering charges, license ap-
plication fee, etc, to the regulatory and revenue authorities in period under review.In Pakistan, the mobile phone customers are paying highest taxes as compared to rest of the world with 53% of the overall taxes, including 19.5% on call and voice services, 14% on withholding tax and now 19.5% on additional service, which was levied by Punjab government on above 2 mpbs speed, hence technically imposing charges on 3G/4G/LTE of telecom services.
lodged of the same. Owner was unable to produce any legal document of the smuggled goods on the spot. Efforts are being made to arrest the persons involved in smuggling. Additional Director Customs Intelligence and Investigation Multan, Nisar Ahmad directed his staff to increase vigilance of the entry and exit of the various strategic routes in the jurisdiction in continuance of campaign launched to recover illegally smuggled goods from different places.
Leather exports decline by $42.5m: PLGMEA akistan Leather Garments Manufacturer and Exporters Association (PLGMEA) Secretary Asif Raheem has said that leather exports slashed by $7.638 million. Asif Raheem further said that the PLGMEA collect a revenue of $50.138 million during fiscal year 2014 while its volume has come down almost to $42.5 million in current year.—CB Report
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Senate body concerns over declining textile export Tuesday, October 27, 2015
Business
PESHAWAR: Chairman Senate Standing Committee on Textile Senator Mohsin Aziz has expressed concern over declining textile export of the country and asked the government to take pragmatic measures to cope with the situation. “The Government should be worrisome about the declining of textile exports of the country,” Aziz asked, in a press statement issued here on Sunday. He said: “How to control and how to bring export to normal and to increase it, should not be concerned of the government, as planned to increase export, especially presence of GSP+ status, granted by EU states, it should have ensured that the country exports should at least increase by $2 billion.
karachi Stock market witnesses lackluster day KARACHI
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arachi Stock market on Tuesday witnessed a lackluster day as investors in the international market await a key meeting of the US Fed later this week. The benchmark KSE-100 Index shed 16.81 points to close at 33,843.83 points. Tumbling oil and selling by foreigners further dented the market’s
K-Electric secures $ 250 m financing from OPIC WASHINGTON
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-Electric Limited and the Overseas Private Investment Corporation (“OPIC”), the U.S. government’s development finance institution, have executed a commitment letter for a US$250 million, 10-year financing project in a signing ceremony attended by the Senator Ishaq Dar, the Finance Minister of Pakistan. The ceremony was held at the US Chamber of Commerce in Washington, D.C.
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sentiment, stated analyst at Topline Securities. Below than expected re-
sult of FFBL led the stock to close down by 2.2pc. Traded volume to-
day decreased by 12pc to 127m shares while traded value increased by 9pc to Rs8.0b/ $76m. Oil sector remained depressed as Iran is preparing to increase shipments at a time when crude prices are near sixyear lows amid a global glut by US shale boom. In the fertilizer sector, FFBL spiked down 2.72pc after the company announced its quarterly Qinancial result (EPS Rs0.19 against EPS Rs1.03 last year). In the banking sector, FABL went down by 1.54pc after the bank announced its 9M2015 result today posting a PAT of Rs3.37b (EPS: Rs2.81), against PAT of Rs1.42b reported in 9M2014.
orange Line will be a masterpiece of architecture: Shahbaz LAHORE
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unjab Chief Minister Shahbaz Sharif presided over a high level meeting on Sunday, which reviewed the matters relating to the Orange Line Metro Train project. Addressing the meeting, the chief minister said that Lahore Orange Line Metro Train project is a milestone in the provision of latest
transport facilities to the common man. He said that the project, which would be a masterpiece of architecture, would be another splendid gift of the Punjab government to the people and would completely change transport culture. He said that the project is unique and would be of special importance for the people of the province in particular and of the whole country in general. He said that like other projects of the provincial government, Lahore Orange Line Metro Train project would be an example of transparency and standard and
would bring about a revolution in the transport sector. The chief minister said that labourers, workers, students, doctors, lawyers, farmers, traders and people of all walks of life would travel by metro train in a respectable manner, adding that after the success of metro bus service in Lahore and Rawalpindi-Islamabad and the under-construction metro bus project in Multan, the Qirst metro train project would be a revolutionary step towards provision of speedy, comfortable and quality transport facility to the masses.
govt asked to facilitate wind, solar power projects ISLAMABAD
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slamabad Women's Chamber of Commerce and Industry (IWCCI) on Sunday asked the government to promote alternative energy projects Solar and wind power projects should be encouraged to balance national energy mix and combat pollution, it said. NEPRA determined upfront tariff for solar power at Rs 4.2 in January attracting investors for an encouraging start but now the regulator wants to reduce it to Rs 9.25 which has unnerved the investors, said Samina Fazil, founder President IWCCI. Government should take note of the large drop of 30 percent in the tariff as the move has shaken the confidence of the business community which is the engine of growth, she added. She said that NEPRA should justify why an attractive tariff was announced and why it is being slashed after nine months making many projects infeasible sending negative signals. Some investors are of the opinion that this move is aimed to benefit a few investors while punishing others. She said that few months back NEPRA cut tariff of wind power by 20 percent from Rs 13.16 to 10.60 and turned a deaf year to the protest of investors and the Sindh government.
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pakistan suffers heavy losses due to huge energy wastage KARACHI
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akistan has been suffering from heavy losses due to huge wastage of energy, as the privatized electricity companies in the third world countries including Pakistan have been playing the role of modern tribute-collectors of the imperialistic emperors of the modern world instead of serving the masses
of these countries. However, the government of Pakistan could save trillions of rupees by improving energy supply system, curtailing line losses and power theft and stopping exploitation of electricity consumers by proQit hungry power maQia in Pakistan. Improvement in energy generation, distributing and marketing has been pending in Pakistan for many decades and it is high time that the government should give a serious
attention to this neglected sector. However, a trader and Chairman of the United International Group Mian Shahid suggested that smart meters can help the government save Rs 4 trillion in line losses, wastage in theft of energy. He said smart meter are used in dozens of countries to discourage over billing, theft of electricity, gas and water, therefore the same could be applied in Pakistan. These meters can help utilities stand on their feet to reduce
load shedding, cut operational costs and ensure proQit to clip circular debt which will revive economy of the country providing jobs to millions and increasing government’s revenue, he said. Mian Shahid said that smart meters settle the issue of estimated bills reducing electricity and gas bills and more efficient operations by distribution companies. These meters will eliminate the need of meter readers while the energy
companies will have a more accurate picture of the situation. Around Rs 360 billion are wasted annually in power sector while gas worth Rs 40 billion and water worth billon is wasted which can be contained. Smart meters have helped cut water losses by half from 700 million litres per day to 350 million litres in Mumbai and same can be done in Karachi where industrialists pay billion to taker operators, says Mian Shahid.
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ian Akram Farid, the vice president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has said that the government should consult with chambers of commerce and other trade organizations before chalking out economic policies. In an interview with Customs Today, he said that the Federal Board of Revenue (FBR) should also keep trade bodies involved in policy-making. This method has been successfully adopted by the neighbouring countries to improve their economies and exports. About declining trends in exports, Farid said that annual target of $50 billion for exports was achievable but there was a need to tap the potential of GSP Plus status. He said that the textile sector was facing problems due to delay in refunds and power shortage. Timely issuance of refunds will ultimately enhance the production and exports as well, he said. The Ministry of Commerce must sign free trade agreements with
Korea, Thailand and other countries while appointment of professionals from the private sector — from 30 to 40 percent — must be ensured in trade missions abroad. He said that defense production of Pakistan was of international standard as Khalid Tank, Thunder 17 plane and ammunition were being exported, adding that the Commerce Ministry could export defense equipment to Arabian countries, which were already buying from the developed countries. The FPCCI is always ready to extend its cooperation to the government. Farid said that Pakistani textiles, cotton, rice and citrus fruit were popular in the US, Europe and Middle East. He urged the youth to take interest in agriculture, horticulture and food processing industries. He also appreciated the subsidy of Rs 900 million for laser land levelers across the Punjab. To meet energy shortage in country, the government should focus on hydel, nuclear and wind sources, he said, adding that Pakistan has big glaciers but all water falls into Arabian sea due to lack of planning. He added that around 15,000 megawatt
of electricity could be generated through wind, besides urging the government to not sacriQice mega projects like Kalabagh Dam and Pakistan Steel Mills. Saying that China-Pakistan Economic Corridor (CPEC) will have farreaching effects and it will prove milestone for Balochistan, a deprived part of country, Farid suggested that government should review the FTAs with China to save the local industries especially in Sialkot. The FBR should reconsider zero income tax facility on Chinese banks in Pakistan. Highlighting the importance of Small Medium Entrepreneurs (SMEs), he said sustainable economic development was possible without development of SMEs. Commercial banks must offer loans at the rate of 5 percent per annum to medium entrepreneurs rather than offering Qinance for cars and cabs, he said He asked that head ofQices of Small Medium Entrepreneurship Development Authority (SMEDA), Industrial Development Bank of Pakistan (IDBP) and Trading Corporation of Pakistan (TCP) must be shifted to more secure Islamabad for effective operations, performance and monitoring.
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eDiToriAL
inviting uS investors
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rime Minister Nawaz Sharif has invited US entrepreneurs to invest in Pakistan and take benefits of his government’s liberal policies which provide lucrative incentives to the foreign investors. According to him, three factors make Pakistan the most attractive investment destination all over the world as it offers perfect land, ideal geographical location and highly skilled and educated workforce. Addressing a function organized by the United States-Pakistan Business Council, the prime minister said that Pakistan has introduced one of the most attractive investment regimes in the world, which allows the foreign investors to repatriate 100 percent profits as well as a facility to convert local currency into the foreign exchange. As a matter of fact, the bumpy road of relations between Pakistan and the United States has seen many ups and downs for the last several decades. Despite the fact that most of the time the relations remained under the spell of a trust deficit, Pakistan has rendered tremendous sacrifices in the so-called war on terror. Thousands of people have been killed and the losses incurred by the country in terms of business, trade and investment were to the tune of billions of dollars. Now the prime minister is again visiting the United States and offering numerous investment opportunities to the US entrepreneurs in Pakistan’s energy, consumer goods, food and agriculture, housing and Infrastructure sectors. The economic ties are the base to strengthen political ties and it can be made possible only when trade between the two countries is enhanced and Pakistani products are given access to the US markets. After the army campaign against terrorists, the security situation in the country has been improved as the government is taking on all hues of terrorists. The prime minister also mentioned that the current year witnessed the lowest number of terrorist attacks since 2007 and positive results of the army operation are visible. The army is already working on a comprehensive strategy, involving targeted military operations against terrorists. Pakistan has now acquired a better position in the world business indexes due to positive assessments of the international rating agencies about the country’s economy. The per capita income of the country has increased by 12 percent, fiscal deficit has been lowered, revenue collections are increased, foreign exchanges reserves have risen above $20 billion and inflation is at the lowest ebb. A strong middle class is emerging in Pakistan, giving impetus to the sale of consumer goods and auto sale. The big task before the prime minster is to convince the US government and private investors to appreciate current situation in Pakistan.
Corruption, corruption and corruption I
LAHORE
Dr AFTAB AFZAL
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t has always been a big question before scholars, intellectual and economists of the country that what the biggest issue of this nation is. Corruption, mismanagement, illiteracy, poverty, security, energy crisis etc – you name it and every issue is the pressing issue. The question remains what the biggest issue of this nation is. According to newspaper reports, the auditor general of Pakistan has unearthed 265 cases of Qinancial mismanagement, embezzlement and overpayments to the tune of Rs 1140 billion in hydropower projects during 2013-14. An audit report
covering the period from 2014 to 2015 indicates that the total auditable expenditure and revenue budget remained Rs 658 billion and Rs 603 billion, respectively. In compliance with Qinancial audit manual, Wapda also conducted the audit of Rs 1262 billion on a test check basis, but only to Qind hundreds of cases of irregular expenditures, embezzlement of public money, miscalculations and overpayments. The audit report reveals that various allowances were granted to the employees of the electricity generation and distribution departments without approval from the competent authorities. The case is being referred to the Ministry of Water and Power for taking up the matter with the Fi-
nance Division. On another note, various distribution companies had launched a vigorous campaign to recover Rs 242 billion from defaulters but it also ended in Qiasco. According to another news report, the Ministry of Water and Power has admitted its failure in dealing with the issue of line losses, pilferage of electricity and wrong billings since the new government took over in May 2013 after general elections. Unfortunately, billions of rupees have already been lost in various electricity generation projects and every project has been marred by corruption and mismanagement. The nation needs a break to consider the unbridled corruption still ongoing on in development projects. However, despite reve-
lation of large-scale Qinancial mismanagement and corruption in the audit reports, the government agencies are seemed to be nonexistent. The government is taking loans after loans without realizing that it will soon reach the saturation point. The sincerity of the government is in question and it has to ensure transparency in every Qinancial matter. Taking loans in the name of development only adds to the burden on every individual of this nation as every development project is marred by corruption and mismanagement. The nation is becoming hostage to the policies and dictations of the International Monetary Fund, the World Bank and the Asian Development Bank.
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China’s economy growth rate may decrease below 7% BEIJING: China’s economy does not need to grow seven percent this year, Chinese Premier Li Keqiang said late on Saturday, after data last week showed the economy grew at the slowest pace since the financial crisis. But China can still overcome economic problems, Li said in a speech at the Central Party School, which trains cadres, according to a notice on the cental government’s website. Gross domestic product (GDP) in the world’s second-largest economy grew at just 6.9 percent in the third quarter, its slowest rate in six years. In March, Li forecast 2015 economic growth would be about 7.0 percent, as the country shifts to a “new normal” driven by domestic consumption instead of exports and government investment. “First, 6.9 percent is about 7 percent, which is in a reasonable range,” Li said, according to a report of the meeting by the People’s Daily, the official Communist Party mouthpiece.
SCCi announces to establish Sadqa Zakat Fund ialkot Chamber of Commerce and Industry (SCCI) established Sadqa Zakat Fund Account o help the local deserving people. SCCI President Maj (Rtd) Mansur Ahmed told that Sialkot Chamber of Commerce and Industry (SCCI) was one of the top Chambers in Pakistan along with its marvelous trade promotion activities was also playing active role in Corporate Social Responsibilities(CSR) relating to which number of initiatives have been taken with kind contribution and support of the honorable SCCI members. He said that a number of programs for public welfare are being pursued to provide financial help to needy and poor for medical treatment, education for deserving students, handicaps, other human welfare causes and life saving needs. The entire populace has high hopes on Sialkot Chamber of Commerce and Industry (SCCI) looking towards it for help and support in need. The Chamber has attained this position due to your generosity to respond to our calls. SCCI President urged the SCCI members to kindly contribute their Zakat and Sadqa in this fund so that we may better serve the humanity through pooling money at the forum of SCCI as well. Meanwhile, Sialkot Chamber of Commerce and Industryon request of Technical Education and Vocational Training Authority (TEVTA), has collaborated with it to register SCCI members on its Job Web Portal ‘SLMIS’. According to the Syed Ahtasham Mazhar SCCI Vice President, this web portal has been designed to bring employer and job seeker on one platform. He said that the companies registered on SLMIS can access to data base of thousands of TEVTA pass-outs and job seekers in various trades and technologies. Vacant job positions can also be uploaded on the portal without any fee.—CB Report
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Tuesday October 27, 2015
Chambers
Belarus to explore investment opportunities in pakistan T
ISLAMABAD
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he Belarusian ambassador Dr. Andrei M Ermolovich said that a large business delegation of Belarus will visit Pakistan in the Qirst week of November this year to attend the Pakistan Investment Conference and to explore investment opportunities in areas of interest. He said this during visit to Islamabad Chamber of Commerce and Industry. He said Belarus was keen to strengthen trade relations with Pakistan as both countries possessed good potential to enhance bilateral cooperation in various fields including automobile, agriculture, energy, IT, steel, furniture, household equipment, textiles, meat, dairy and others areas. He said Belarus was one of the most industrialized countries in the heart of Europe and Pakistan could achieve beneficial results for its economy by enhancing trade and economic relations with Belarus. He said Belarus has signed a customs union agreement with Russia and Kazakhstan and Pakistani exporters could get easy access to East-
ern Europe and Russian Federation by promoting trade with Belarus. He said ICCI should organize a trade delegation for Belarus to explore business prospects and assured that his Embassy would facilitate its visit. Speaking on the occasion, Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry said that bilateral trade between Pakistan and Belarus was far below the real
potential. He said Pakistan and Belarus should facilitate frequent interactions between their private sectors to explore new avenues of mutual cooperation. He said both countries should establish direct air links to facilitate trade. He said ICCI intended to organize a single country exhibition in Belarus to show potential of Pakistani products and added that Belarusian Embassy
Hungary invites pakistani businessmen
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LAHORE
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akistan ambassador designate to Hungary Syrus Sajjad Qazi urged the Pakistani businessmen to evolve strategy to tape huge potential exists in Hungary. He was talking to the LCCI president Sheikh Muhammad Arshad here at the Lahore Chamber of Commerce and Industry. The LCCI Vice President Nasir Saeed also spoke on the occasion. Ambassador said that interaction with the Hungarian businessmen would enable Pakistan private sector to get access to the European market. He said that he would make all out efforts to turn Pakistan mission into Hungary a match-making point for the business community in the two countries. He said that he would also
utilize Hungarian media to highlight the soft image of Pakistan as in today’s world media is a strong tool to propagate information. Speaking on the occasion, the LCCI president Sheikh Muhammad Arshad said that Pakistan is a good investment destination as there exist a lot of scope for economic cooperation between Pakistan and Hungary in a number of areas including energy, agriculture, livestock, textile and education. He said that both the countries have their own strengths that should be tapped. He said that there should be some mechanism to exchange research data with each other that would help boost economic cooperation between the two countries. He said that the Lahore Chamber of Commerce and Industry is focusing on exchange of business delegations so that the businessmen could have first hand
knowledge about the available opportunities. Sheikh Muhammad Arshad said that Hungary and Pakistan enjoy cordial diplomatic relations and have signed the agreement for avoidance of double taxation between the two countries which shows mutual willingness of promoting trade relations. He said that Hungary is not among top trading countries for Pakistan because little information exists about financial and transport arrangements, trade regulations, custom laws, visa procedures, foreign investment policy etc., applicable in Hungary. Both the sides need to bridge the gap related to trade information and statistical data on reciprocal basis. To expand the two-way trade and economic collaboration for mutual benefits, we have to put into operation various tools like single country.
should extend full assistance to make it successful event. Sheikh Pervez Ahmed senior vice president and Sheikh Abdul Waheed vice president, Islamabad Chamber of Commerce and Industry said that Belarus should share its advanced technology and expertise with Pakistan in the Qield of agriculture, energy, mining, transport, pharmaceuticals and other technical areas.
Aptma lauds imposition of 10% duty on indian yarn he textile millers have laude the government’s move of imposing 10 per cent regulatory duty on import of yarn from India. All Pakistan Textile Mills Association (Aptma) Chairman Tariq Saud, in a statement, hoped that the government would also give them level-playing field by withdrawing Gas Infrastructure Development Cess (GIDC) and power surcharge. Addressing a press conference along with the Aptma Managing Committee members, Saud said that the association is not just spinning sector, but it represented the entire textile sector and several value-added sector members are part of them..—CB Report
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Malaysian police nab smuggler Tuesday October 27, 2015
World
SUNGAI PETANI: Police detained a local man and seized RM74,700 worth of drugs in a raid of a house in Taman Tunku Haminah, here the other day. Kuala Muda district police chief Assistant Commissioner Md Zukir Md Isa said the drugs confiscated included 65g of methamphetamine which were packed in two small packages and 3,784g of heroin packed in nine large packages and eight small packages. “We believe that the 36-year-old suspect is part of a syndicate that is responsible for supplying drugs in several areas in the state including Alor Star, Sungai Petani, north and south of Seberang Perai and Penang.
Siberian Customs seizes 3 tons of jade worth $800,000 www.customsbulletin.com
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he Bank of Canada is keeping its benchmark interest rate right where it currently sits, at 0.5 per cent. The bank, led by Stephen Poloz, meets every six weeks to decide on monetary policy and has cut its trend-setting interest rate twice this year in a bid to stimulate Canada’s economy. The central bank’s interest rate influences the rates that borrowers and savers pay and earn for things like mortgages and savings accounts. The consensus view among 27 economists polled by Bloomberg ahead of the bank’s decision was for the bank to do exactly what it did nothing. In explaining its reasoning, the bank said it kept its rate as is based on the impact of previous changes.—CB Report
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hallucinogenic drug known as “liquid acid” has been seized by South Australian police for what they believe is the Qirst time in the country. Riverland police earlier this month seized a bottle containing about 395 millilitres of a clear liquid from a car in South Australia’s Murray Mallee region. Police said tests have since revealed the substance to be 25iNBOME, which is sold under the street name liquid acid. Jordan Kalke, 27, and Bonnie Geale, 19, both from Waikerie, were arrested this morning and charged with trafQicking in a commercial quantity of a controlled drug.
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Canadian dollar plunges as Bank of Canada stands pat at 0.5%
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SIBERIA
WAT team ambush illegal cargo at night in open seas off coast of the Democratic People’s Republic. The high-quality jade from the Republic of Buryatia was being exported to China without export documents. Its value was put at 50 million roubles or $800,000. Customs spokeswoman Tatiana Shichanina said: ‘We had a tip off that the smuggling was planned and decided to arrange ambush.’ The operation was led from customs vessel ‘Petr Matveev’. OfQicers seized ten sacks of jade. The crew were detained and taken to Vladivostok. In China, this mineral is considered a ‘sacred rock’ and it can command a higher price than gold. The value of the ornamental rock in China encourages criminal gangs to collect and smuggle it. This was the Qirst time by sea, and while inscriptions showed the ultimate destination was China. This time of year is seen as ‘high season’ for the ‘black diggers’ but
Australian police seize “liquid acid”
usually the jade is smuggled by land. An expert told Komsomolskaya Pravda: ‘It may well be that this whole batch of jade had been gradually brought to some collection point during several months. ‘Most likely, the perpetrators initially transported stones in parts. Some in the train, some by car, more by truck, covering it with other goods. I think if there is such a so-
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phisticated smugglers’ route – to China via North Korea, some high ranking people might be interested in this delivery.’ The crew of smuggling vessel face up to seven years in jail and a Qine of 1 million roubles. Earlier, on 23 September, police in Buryatia seized more than 40 tons of jade, allegedly stolen from a processing company.
Manmade fibre yarns export falls 00% manmade Qibre yarns export aggregated 6.35 million kg in September valued at US$17 million. This comprised 2.47 million kg of polyester yarn, 2.59 million kg of viscose yarn and 1.23 million kg of acrylic yarn. Compared to a year ago, shipment managed to remain just up while value was down 7 per cent. Polyester yarn exports were
down 23 per cent in value while viscose yarn export grew 18 per cent during the month. Acrylic yarn export was also down 14 per cent. Unit price realization was down US cents 34 a kg for polyester from a year ago and that of viscose yarn was down US cents 29 a kg. Acrylic yarn unit price realization was down US cents 11 year on year basis.—CB Report
european union restarts beef exports to Canada
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he European Union is to resume exports of beef to Canada from 19 of its member countries for the first time since 1996 when they were halted in the wake of the BSE “mad cow” disease scandal. The European Commission said on Tuesday that Canada’s action was part of a growing trend to recognize the measures put in place by the European Union to eradicate BSE. “We call on our few remaining international trading partners who still maintain restrictive measures, to fully adopt recognized international standards,” the Commission said. The United States cleared Irish beef for shipment in January after
Singapore’s CNB nabs 4 with drugs
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SINGAPORE
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our people were arrested on Friday afternoon in connection with drug activities, the Central Narcotics Bureau (CNB) said in a media release on Sunday. A total of about 3.2kg of cannabis, 20g of ‘Ice’ and 98 Erimin-5 tablets were also
seized during the operation. The CNB said the drugs were estimated to be worth more than S$109,000. The suspects were arrested on Friday by CNB ofQicers deployed to conduct an observation on a suspected local drug syndicate in the Clementi area. \ The syndicate was believed to have received a fresh consignment of drugs, said the CNB.
“This is the Qirst time we have seen this drug sold in liquid form in Australia,” Superintendent James Blandford said. “Police are alarmed that this drug has been found in liquid form [because] in liquid form, the dilution is obviously uncontrolled. “If it’s only a one ml or two ml dose, that’s a very difQicult measurement to actually dish out.” He said the consequences of taking the drug could be fatal. “Historically, users have experienced hallucinations, psychosis, extreme aggression, elevated heart rate, seizures, organ damage, neurological damage and death,” Superintendent Blandford said. “In a liquid form, this bad reaction is much more likely.” The pair were remanded in custody and are expected to appear in court next week.
A 44-year-old male Singaporean was seen meeting with a 41-yearold male Singaporean outside his unit in Clementi. After they parted, the 41-year-old was swiftly arrested. CNB ofQicers escorted him to his unit in the vicinity of Clementi Ave 1, and a search recovered a total of about 2.2kg of cannabis and some drug paraphernalia, including a digital weighing scale.
the world’s biggest beef buyer banned EU imports in 1998. Ireland also secured access again to China the following month. Saudi Arabia lifted a 15-year-old ban on French beef last week. Bovine spongiform encephalopathy (BSE), commonly known as mad cow disease, was Qirst detected in Britain in the late 1980s, spreading from there to other parts of Europe. It has been linked to the brainwasting condition, variant Creutzfeldt-Jakob disease. The opening up of Canada to beef will provide some relief for farmers currently hit by a Russian ban on EU food imports.—CB Report
OfQicers continued to monitor the other suspect, who was spotted with a 29-year-old Singaporean male and 33-year-old female suspected drug abuser, outside a parked white car in a multi-storey carpark. All three were arrested. A search of the 44-year-old suspect’s house in Clementi Road led to the seizure of about 1kg of cannabis.
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£40m project to create 600 jobs at Felixstowe Port HONG KONG: Hutchison Ports (UK) Ltd has submitted plans to Suffolk Coastal council to develop part of the oldest area of the Port of Felixstowe, off Dock Road, just inside Dock Gate One. The £40million scheme – which will reuse the now decontaminated site of the old Calor Gas Terminal liquid propane gas installation, part of the Tank Farm bulk liquids storage centre area, and several haulage yards – will see some port roads wiped off the map to be replaced by four huge warehouses, providing almost 1million sq ft of space tailored to the needs of customers .It is the first phase of a scheme – another 18 acres of transit sheds and warehouses could be cleared in future if it is a success – which aims to ensure the port stays ahead of its rivals.
revenues from shipping sevices 60% decline in July evenues from shipping services posted a remarkable drop in July, the first full month with capital controls, as a significant number of shipping companies were forced to return revenues from chartering and ship transactions to foreign accounts in order to meet their obligations. Bank of Greece data showed that foreign currency inflows from shipping amounted to 470.7 million euros in July, 60 percent down from the 1.17 billion euros recorded a year earlier. Given that the vast majority of foreign currency takings concern oceangoing shipping, it is clear that the capital controls will have a profound effect on the current account balance and the liquidity of Greek banks. In fact, credit sector sources estimate that July will likely prove to be the month.—CB Report
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mangalore port shares rise 5.6% hares climbed 5.6 percent intraday on getting land at Mangalore port for building storage terminal. “Aegis Group today announced allotment of 3 acres of land at Mangalore Port to build a storage terminal. The land is allotted on a lease for a period of 30 years by New Mangalore Port Trust,” the company said in its filing. With this land allocation, Aegis Logistics will expand its presence to six ports of India – Mumbai, Pipavav, Kandla, Kochi, Haldia, and New Mangalore. These ports together manage 70 percent of POL traffic handled by major ports in India. “The land allotment at Mangalore fits well with its strategy to add more terminals to portfolio, offering its customers logistics services throughout India at every gateway into and out of India,” Anish Chandaria, Managing Director & CEO said.—CB Report
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Ports & Shipping
Adani ports hopes to replicate success of flagship mundra port
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dani Ports hopes to replicate the success of its Qlagship Mundra Port, India’s biggest non-government cargo gateway, at its new container terminal project at Vizhinjam, a deep-water, green-Qield site that is designed to counter the growing dominance of Sri Lanka’s Colombo Port for Indian transshipment cargo. Adani said it is looking to set up strategic partnerships with major ocean carriers in an attempt to make the Vizhinjam project more viable and attractive. This business model has signiQicantly beneQited Adanis at Mundra. “We are very much conQident of collaboration with major shipping lines for our Vizhinjam Port,” Adani Ports said, in response to a JOC.com query. At Mundra, the company has joint ventures with Mediterranean Shipping Co. and CMA CGM for the operation of container facilities. As a result, the carriers have shifted their Mundra calls from DP World-operated Mundra International Container Terminal to the Adani-managed facilities.
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“We had undertaken a feasibility study, and the Vizhinjam terminal can be made viable based on tying up with shipping lines,” the company said. Vizhinjam’s Qirst phase comprises a 2,625-foot quay, a 131acre container yard and an annual capacity of 1 million 20-footequivalent units, capable of handling 18,000-TEU ships. Adanis over the summer won a 40-year concession to design, build and operate the Vizhinjam terminal, its ninth venture in the country, af-
ter it emerged as the lone bidder for the public-private-partnership project. The Qirst phase of the project involves an investment of more than Rs. 4,100 crore (about $631 million). This includes an Rs. 1,635 crore ($252 million) state grant and an Rs. 2,500 crore ($385 million) investment from Adanis. Adani Ports has ambitious goals for the facility and said it will commission the new facility in 1,000 days and it will handle 300,000 TEUs in its Qirst year.
Customs unification to boost trade to $240b
bdul Rahim Naqi, SecretaryGeneral of the GCC Chambers Union, said that the unification of customs procedures will double the trade volume between GCC countries from its current level of $120 billion. In an interview, Naqi warned of delays in the implementation of
Customs Union procedures, which will reflect on the delay in the arrival of goods, leading to an increased financial burden on commercial companies. Naqi reviewed some of the challenges that face exporting and importing companies, especially the waiting period for sensitive goods
to clear the borders. The SecretaryGeneral believes paving the way for economic unity will increase the capacity for creating suitable jobs for the citizens and residents of Gulf states. During the interview, Naqi talked about the Gulf Economic Forum, which begins on October 25 in Doha.—CB Report
Tuesday October 27, 2015
gCC, Japan trade fall 41.7% to $50.36b in H1 of 2015 he value of two-way trade between Japan and the GCC declined 41.7 percent to $50.36 billion during the first half of 2015, compared with $86.5 billion during the same period in 2014 due to decline in the price of mineral fuels and partly to the slide in the value of Japanese ten against US dollar. While mineral fuels constitute around 76 percent of the total trade between the two sides, crude oils alone constitute nearly 53 percent. When comparing the first half of 2015 with the same period in 2014, the average price of crude oils fell by nearly 50 percent in 2015 – from $110.57 to $57.63 per barrel. The value of Japan’s exports to the GCC dropped by nearly 8 percent to $11.05 billion from $12 billion. Since the volume of exports remained almost the same, this decline in export value is attributed to the depreciation in the Japanese yen against the US dollars. Japan’s currency depreciated by an average 16.9 percent during the first six months of 2015, comparing with the same period in the previous year, making GCC countries pay less in US dollars for their imports from Japan. As a result of the fall in the price of mineral fuels, Japan’s trade deficit with the GCC countries declined by 54.7 percent to $28.26 billion during the first six months of 2015, compared with $62.46 billion during the same period in the previous year.—CB Report
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NZ’s South port cargo throughput increases 5%
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iversifying business streams was paying dividends while plans for an inland port facility in Invercargill were also advancing, South Port shareholders were told on Thursday. Chairman Rex Chapman told shareholders attending the annual
meeting in Bluff on Thursday that the 2015 result was “particularly pleasing because this time last year we did not predict such a good result, given the growing competitive pressure in container activity and falling commodity prices.” South Port in August reported another record cargo throughput at Bluff of 2.68 million tonnes, a 5 per cent increase on 2014, which resulted in a record net proQit after tax
of $7.7 million, up 15 per cent on 2014. The Bluff-based port company has diversiQied across container and bulk cargoes transfers, warehousing, cold storage, property and infrastructure leasing and this has been rewarded. Stronger-than-expected volumes of imported bulk cargos, notably of stock food and fertiliser, contributed to the record performance, Chapman said. “We were pleasantly sur-
prised that these particular cargos held up so well in such a difQicult period for the dairy sector.” South Port’s strategy was to maintain good working relationships with all of the New Zealand ports in order to take advantage of “inevitable changes” in the port sector, he said. “Just as Tauranga has now reached into the South Island through Timaru, it is expected that other ports will be seeking to enter into working.
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Abu Dhabi court sentences two men in smuggling case ABU DHABI: The Naturalisation and Residency prosecution of Al Ain jailed an Omani national and a Bangladeshi woman for 7 days, pending investigation, on charges of violating laws of residency and entering the UAE illegally. The Hili port customs officials arrested the woman when the Omani attempted to smuggle her into the country through Al Hili port, claiming that she was his wife, using a valid Gulf passport, with a name of another person. The investigations proved that the woman entered Oman three months before on a working visa, where she worked with an Asian woman in the flesh trade.
Tuesday, October 27, 2015
CUSTOMS BULLETIN
Customs preventive seizes 190,000 liters iranian diesel from July to october KARACHI m HAYAT
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he Model Customs Collectorate preventive (MCC) Anti-Smuggling has seized 1,90,000 liters Iranian diesel during the period from July to October 15 in different raids. According to the sources, the Customs has conQiscated 55,000 liters of Iranian diesel during the same period last year. Customs also raided 22 illegal petrol pumps from July to October, sources added. Meanwhile, The Model Customs Collectorate Preventive’s Anti Smuggling Organization (ASO) has detected the largest single seizure in the history of Pakistan Customs involving Rs 304 million. Addressing a news conference at the godown that was raided by the ASO on Wednesday under the supervision of Assistant Collector Syed Muhammad Raza Naqvi, Chief Collector Enforcement-South Zahid Khokhar said that a huge quantity of smuggled goods was seized that included android cellular phones, LED TV sets, tablets, contact lenses, assorted toiletries and other electronic goods wroth Rs 304.621 million.
Collector Tariq Huda
KP-NAB arrests suspect for committing fraud in land acquisition PESHAWAR
NADir kHAN
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n another crackdown Khyber Pakhtunkhawa National Accountability Bureau (NAB) on Thursday arrested Abdul Hashim private person involved in fraud in acquisition of land for housing scheme at Surezai Bala Peshawar and caused loss to the national exchequer. As per details, an investigation
into embezzlement in government funds in acquisition of land for Surezai Housing Scheme by Provincial Housing Authority (PHA) Government of Khyber Pakhtunkhwa is under progress. The allegation involves embezzlement of millions of rupees in the process of acquisition of land for housing scheme at Surezai Bala. The land owners in Surezai were paid less than the price per kanal Qixed as compensation of land by the govt. During the process of payment of compensation of land, few land owners were paid twice. During the course of investiga-
tion, it was revealed that during the process of acquisition of land by Provincial Housing Authority (PHA) in Surezai Bala Peshawar, the accused Abdul Hashim being land owner has illegally received double payments from PHA as compensation of his family land measuring 32 Kanal and 7 marla. The accused illegally received amount of Rs.3.78 million despite the fact that his father and other family members had already received payment for land. The accused person presented before the Accountability Court Peshawar and obtained 7 days
physical remand. Meanwhile, The National Accountability Bureau (NAB) Khyber Pakhtunkhwa on Wednesday arrested Allauddin Khan, ex-chief engineer in (BPS-19) Public Health Engineering Department (PHED) Khyber Pakhtunkhwa, allegedly involved in misuse of authority, illegal commissions and kickbacks from the supplier companies, causing a loss of Rs 24 million to the national exchequer. As per detail, the Planning and Development Department of KPK constituted a provincial committee for standardization of engi-
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neering products and materials and the user departments have to procure the required engineering products / materials from the qualiQied Qirms / suppliers. Accused Allauddin Khan, the then chief engineer, unilaterally and illegally shortlisted / fake /dummy Qirms without advertising the same in the media, and issued a circular to his subordinate ofQicers to compulsorily make procurement from the dummy Qirms. Eventually, round about 350 voltage stabilizer were purchased at exorbitant rates causing a huge loss to the national exchequer.