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pAkIStAN’S FIrSt INDepth NewSpAper oN cuStoMS
Daily
Vol 1 Issue No. 220
Karachi, Sat October 31, 2015
ISLAMABAD
M FAIZAN
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ederal Board of Revenue (FBR) Member Administration Shahid Hussain Jatoi has directed the Chief Collector Customs North Sarwat Tahira Habib to take non-discrimi-
natory action against corrupt and incompetent ofQicials. The member stated this during a meeting with chief collector on Wednesday, where both the ofQicials discussed the administrative matters of the Customs North in detail. They also reviewed the inquiries against ofQicials of Customs North who are under cloud of inves-
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tigation due to malpractices and misuse of powers. On the other hand, Chief Collector Tahira appreciated the strict implementation of rules and regulations by the Member Admin in the department, besides showing her determination to extend the same polices in her jurisdiction to improve the performance of the department.
Pak offers investment-friendly atmosphere to multinationals:Tariq Bajwa
Excise Sindh optimistic about achieving revenue target: Gyan Chand Israni
ECC approves provision of 64,000MT wheat to WFP for TDPs
Sialkot ASO seizes 300kg smuggled black tea
SCCI to encourage teachers by awarding medals, prizes
Pakistan is providing conducive environment for foreign investors | See pAge 02 |
Minister for ET Sindh Gyan Chand Israni has said that the Excise Department is striving | See pAge 03 |
Ishaq Dar chaired the meeting ECC and gave approval for the provision of 64,000 . | See pAge 04 |
ASO Sialkot has seized the 300 kilograms of foreign origin smuggled black tea | See pAge 12 |
Taking another step towards the promotion of quality education, the SCCI | See pAge 09 |
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IHC issues notice to RTO for recovery of illegally charged tax Saturday, October 31, 2015
National
ISLAMABAD: The Islamabad High Court (IHC) on Thursday issued notice to RTO authorities for ensuring presence before the court in a case seeking recovery of illegally charged tax. The IHC division bench comprising Justice Athar Minallah and Justice Shuakat Aziz Siddiqui heard the case. Muhammad Arif, a citizen had filed the petition, through Advocate Farhat Nawaz Lodhi, in the court seeking recovery of illegally charged Rs 3.9 million tax. Taking notice of the absence of RTO representatives from the court, the court issued the notice and sent the case to court’s office for setting date of hearing.
pakistan offers investment-friendly atmosphere to multinationals: Bajwa
FAISALABAD
ISLAMABAD
NAeeM SheIkh
M FAIZAN
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he Jhang City Anti Smuggling Organization (ASO) has seized Iranian Raisin (Kishmish) worth Rs 5, 50,000 market value. Sources told Customs Today that Collector MCC Faisalabad Zulfiqar Ali Chaudhry received credible information regarding the smuggling of Raisin. After that the ASO team intercepted a vehicle bearing Registration Plate No. TKE- 618 near By pass Bhakkar Road Jhang and seized 74 bags of Raisin weighing 1702 kilograms worth Rs 550,000. The ASO team asked the driver to produce any documentary evidence for the lawful possession of said goods. But the driver could not produce any documentary evidence. ASO team comprised of Muhammad Javaid Mehmood ( superintendent ), Shoukat Khan, Nazar Hussain Jafari ( Inspector ). Ghulam Abbas, Muhammad Ajmal, Ahmad Bux (sepoys). The smuggled bags has seized under import and export Act 1950. The name and address of accused person is Gull Ahmad son of Ali Muhammad residence of Parkani Saryab Road Quetta ( Driver ), and Cosigner name was Hakmiat ullah, Consignee Habib Ashraf and and Abdur Rehman as per bilty no. 1551, 1549, issued by united Goods Transport Company Quetta.
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akistan is providing conducive environment for foreign investors as it offers tax exemptions and discounted rates in tariffs without imposing any restriction on the transfer of proQits to their home countries. Federal Board of Revenue (FBR) Chairman Tariq Bajwa stated this while talking to executives of a multinational organisation in a round-table conference organised by the Board of Investment. The FBR chairman also briefed the participants on the tax system of Pakistan and informed them that transparency in the systems was the key objective of the FBR. A number of multinational companies are running their businesses in Pakistan, which are facilitated on priority basis by the department, Bajwa said, adding that the government is also taking steps to facilitate foreign investors. He informed the investors about the attractive sectors where they could get more exemptions and beneQits, besides ensuring them of FBR’s complete assistance. Meanwhile, Federal Board of Revenue (FBR) Chairman Tariq Bajwa will meet representative of the World Bank, Raul Fleix, on Friday (today) at the FBR House and discuss matters
ASo Jhang confiscates 1702 kgs of smuggled raisin worth rs 550,000
of tax reforms and administration. Both ofQicials will also review the ongoing projects to strengthen the tax system in Pakistan. World Bank
wants an effective tax system in the country with broader tax net and increased revenue collection, for which it has funded numerous projects.
The World Bank is also ready to provide funding for more development projects to enhance the performance of FBR.
Shc orders conditional release of furnishing items KARACHI
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he Sindh High Court (SHC) has ordered conditional release of a consignment of furnishing items, besides directing importer RaQiq Commercial and Co. to deposit the differential amount of duty and taxes with Nazir of the
court. The counsel for the petitioner submitted that his client had imported a consignment containing curtain blinds, accessories and curtain borders, tassel and catalogs. The consignment is lying on the port. He said that the imported goods are liable to be assessed at their transactional value in terms of Section 25(I) and 25-A of the Customs Act 1969 and the rules framed under the Act but they were assessed arbitrarily at a very high value on the basis of a so-called Val-
uation Ruling No.765/2015. The assessment of the goods is illegal and in complete disregard of the Act, he said while requesting the court to direct the customs authorities to determine the value of the goods as per rules. The court was further requested to order provisional release of the consignment as the importer was ready to deposit differential amount of duty and taxes with the Nazir till the petition is decided.
Meanwhile, The Sindh High Court (SHC) on Thursday directed the Pakistan Customs’ licensing authority to decide within 30 days the case of clearing agent M/s Nadeem Enterprises whose license was suspended over its alleged involvement in smuggling of poppy seed. A division bench of SHC gave this direction while hearing a petition filed by the proprietor of M/s Nadeem Enterprises against suspension of its license. The counsel for the petitioner
submitted that the customs authorities had registered a criminal case against his client for allegedly trying to smuggle poppy seed out of the country and subsequently suspended its license. Refuting the allegations of its involvement, the counsel said, the firm had nothing to do with the offence. He told the judges that the customs authorities are not finalizing the proceedings initiated against the petitioner after suspension of its license.
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Alleged smuggler remanded in custody of Customs Intelligence LAHORE: The Special Court of Customs Taxation and Anti-Smuggling has sent a suspect involved in smuggling of auto parts for motor bikes on a 14-day judicial remand for further interrogation. As per details, Special Judge Chaudhary Ameer Hussain heard the case where Customs Investigation and Intelligence asked the court to grant judicial remand of the accused. The court after hearing the agreements of both sides ordered to send the suspect, Muhammad Faiz on judicial remand. As per details, Muhammad Faiz was arrested by the Customs Intelligence following the recovery of smuggled auto parts worth Rs 5 million from his possession.
Ihc adjourns hearing of cases involving commissioner income tax ISLAMABAD
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he Islamabad High Court (IHC) on Thursday adjourned the hearing of cases carrying commissioner income tax as respondent. An IHC division bench comprising Justice Athar Minallah and Justice Shuakat Aziz Siddiqui was hearing the cases. Shalimar Recording Company, Rawalpindi, and CGG Pakistan had filed complaints against commissioner income tax in the IHC. In case of Shalimar Recording Company, the bench also sought further comments from both parties and asked the counsels to avoid delaying arguments in the case.
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rto-I collects rs 10256m in 25 days of october KARACHI
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he Regional Tax Office (RTO-II) collected Rs 10256 million during the first 25 days of October, 2015 while Rs 298 million were collected under the head of sales tax. Additional Commissioner Regional Tax Office-I Sajjad Haider said that during the period, collection under the head of sales tax remained low but it is hoped that this ratio will get upward trend in coming month. He said RTO-I collected Rs 12634 million in the month of September while it collected only Rs 409 million under the head of sales tax. He said during the first ten days of the month, it collected Rs 2581 million under the head of income tax. He said that “we are not far away from our assigned collection target”.
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Saturday October 31, 2015
National
excise Sindh optimistic about achieving revenue target: gyan chand Israni KARACHI
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rovincial Minister for Excise and Taxation (ET) Sindh Gyan Chand Israni has said that the Excise Department is striving hard to achieve its target of tax recovery for Qiscal year 2015-16. In an exclusive interview with Customs Today, Israni further said that the department has already directed all its ofQicers at the beginning of Qiscal year for the recovery of taxes. He said that “we have made it possible to hold one or two monthly meetings with ofQicers to get updates about the tax recovery”. Israni has said that the department has ensured Rs 10 billion tax recovery in the Qirst quarter while it has collected tax over Rs 3.3 billion during 25 days of October. He further told that tax revenue collection target set for current year is Rs 41 billion which is Rs 5 billion more than last year. ET Sindh had set a target of Rs 38 billion last year. Discussing about the recovery performance of Motor Registration department of ET Sindh, he told, Motor Registration Wing has made almost 22 percent tax recovery till this date. He said it is very early to say that ET Sindh is facing shortfall of tax recovery. Viewing performance of the Qirst quarter tax collection which was RS 10 billion , ET Sindh is hopeful to achieve its target at the end of Qiscal year. Talking about the
shortage of staff at ET Sindh, he said that he is sure that at start of 2016, Sindh government will recruit new staff to overcome the shortage of staff and make the pace of tax recovery more fast to achieve its target. He told that ET Sindh is doing its best to provide facilities to taxpayers so that they can pay their taxes easily and without any problem. Meanwhile, The Excise and Taxation Department has abolished all
Israni says the department has collected rs 10 billion in first quarter and collected over rs 3.3 billion tax during 25 days of october
LTBA asks FBR to extend date of filing returns until Dec 31 LAHORE
M hAYAt
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he Lahore Tax Bar Association (LTBA) has sought extension in Qiling of income tax return date for tax year 2015 up to December 31, 2015 and wealth tax up to March 31, 2016 in order to facilitate genuine taxpayers.
In a letter written to Federal Board of Revenue Chairman Tariq Bajwa, LTBA General Secretary Qamaruz Zaman said that the bar members and taxpayers have faced numerous problems in Qiling of tax returns due to which they failed to Qile their returns o time. He added that the FBR issued the last draft of income tax return in the Qirst week and online system started functioning in third week of September, 2015 and still have functional problems whereas the Income Tax Ordinance 2001 provided three
months statutory time to Qile a return. He said that for the Qirst time the government withdrawn concessions and exemptions on Qiling of returns of wealth which is also a cause to delay in Qiling of returns. On the other hand, administrative over-doings are also creating issues for the LTBA members, he said adding that most of entries in return and wealth statement are not editable while another reason for the delay in return Qiling are the negotiations between FBR and traders association.
the check posts being operated by the department henceforth, it is learnt. The decision has been made during a high-level meeting chaired by Sindh Minister for Excise and Taxation and Narcotics Giyan Chand Esrani the other day. According to sources, the check-posts being operated by the excise and taxation would be no more operational while the operation against smugglers would continue on intelligence basis.
Counter established at RTO-III to facilitate visitors he Regional Tax Office-III at Gulistan-e-Johar has established a reception counter to facilitate visitors. According to notification number Sec-RTO-III-Khi/2015/03 issued by Asif Ali Abro Chief Security Officer RTO-III, in case of any complaint visitors can contact the Chief Security Office.—CB Report
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ECC approves provision of 64,000MT wheat to WFP for TDPs Saturday, October 31, 2015
Business
ISLAMABAD: Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee of the Cabinet (ECC) and gave approval for the provision of 64,000 metric tons of wheat to the United Nations WFP for TDPs of FATA and KP. The said quantity costing Rs. 2.569 billion will be distributed till December 2015. ECC also granted approval of the extension of 0.3% reduced rate of withholding tax on non-filers up to 7th November, 2015. It was further decided that in the event that the National Assembly extends the Income Tax Ordinance 2015, the reduced rate.
kSe loses early gains to close at 34276 points KARACHI
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he Karachi Stock Exchange Friday lost the early gains, by shedding 56.41 points to drop to 34276.02 points level. The stock witnessed the highest trading level 34464.25 points and lowest level of 34238.00 points. The total volume of market remained 119,546,550 shares, having Rs6,627,499,433 value.
PBIF concerns over fall of rupee against dollar LAHORE
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akistan Businessmen and Intellectuals Forum (PBIF) on Thursday said that record fall in value of rupee versus dollar is unfortunate which has impaired all the sincere efforts to stabilize exchange rate since last two years. Export policy should have been adjusted to improve export competitiveness leaving exchange rate unchanged as it will damage masses by making imports costly and stoking inflation.
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Earlier, the Karachi stocks remained almost flat as 100-inded gained 17 points to reach 34349.30 points till midday. On Thursday, the KSE 100-share Index gained 271.01 points, or 0.69 percent, to close at 34,332.43 points. KSE 30-share Index was up 147.57 points, or 0.71 percent, to end at 20,449.01 points. As many as 359 scrips were active; of which 189 advanced, 159 declined and 11 remained unchanged. The ready market volumes stood at 192.39 million shares as compared to 163.809 million shares in the last trading session.
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nsurance specialists and energy experts on Thursday discussed the risk management requirements for renewable power projects in Pakistan given the evolving security challenges in the region during a Qirst of its kind day-long seminar. The world’s largest privately held insurance brokerage house Lockton
ISLAMABAD
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he Oil and Gas Regulatory Authority (OGRA) on Thursday recommended the government up to 7.6 percent increase in the prices of PoL products, it is learnt reliably here. For the month of November OGRA has recommended the increase of 7.3pc or Rs5.35 per litre in the prices of Motor Spirit (Petrol). Similarly OGRA has advised the increase of 2.9 percent or Rs 2.43 in the prices of High Speed Diesel (HSD), 5.6 percent or Rs 3.17 in the prices of Kerosene oil and 7.6 percent or Rs 6.10 in the prices of High Octane Blending Component (HOBC). According to the summary moved to the Ministry of Petroleum and Natural Resources and the Ministry of Finance an increase of RS 5.35 has been recommended in the prices of Motor Spirit (Petrol), after the increase the price of petrol will go up to Rs 79.08 per liter from the current Rs 73.73. After the increase the prices of the High Speed Diesel will go up to Rs 85.22 from the current Rs 82.79 per litre. The regulatory authority has advised Rs 3.17 or 5.6 percent hike in the prices of Kerosene Oil, the new price of Kerosene will go up to Rs 60.28 from the current Rs57.11 per litre.
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energy parley discusses importance of insurance for power projects cuStoMS BuLLetIN report
ogra for 7.6pc hike in poL products
(MENA), offering insurance and risk management solutions, in conjunction with its network partner in Pakistan Fidelity Insurance Brokers (FIB), organised the event titled, “Renewable Energy & Power: Managing Project Risk Finance”. The participants talked about the ways to address risks in Pakistan’s renewable energy projects in order to remove technical hurdles in their Qinancing by international lenders. The speakers agreed that risk considerations are clearly moving higher up the agenda among investors and operators of renewable energy sector,
which has a signiQicant growth potential in Pakistan. They discussed the role of risk consultant brokers in debt-Qinanced projects, business interruption insurance and reinsurers’ view of the country’s renewable energy market. Specialist Ciara Appleford at Lockton said political violence, war and terrorism are evolving threats to business Qlow in the region. “Highest 8,000 terrorist attacks have occurred in the Near East and South Asia, triple the number of attacks in Africa, Europe and Eurasia, East Asia and PaciQic and Western Hemisphere combined,” Appleford said.
kp farmers unlikely to get compensation under pM kissan package PESHAWAR
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he federal government has suspended disbursement under the Kissan Package in Khyber Pakhtunkhwa and directed the distributors to stop providing subsidized di-ammonium phosphate (DAP) fertilizer to the farmers in the province. Sources in the Civil Secretariat told The News on
Thursday that the federal government’s decision has raised alarm in the official circles in the province. They said a number of meetings were held to take stock of the situation in the wake of the federal government’s decision. Citing the reasons for the abrupt suspension of the Kissan Package in the province, the sources said the provincial government could not come up with a decision to provide its share in the
package. However, they said the provincial government did not share the allocations for the Kissan Package because it had proposed compensation for the growers of wheat and sugarcane in the province under the package. On its part, the federal government stuck to its plan to compensate mainly the growers of rice and cotton. Provincial Agriculture Minister Ikramullah Khan Gandapur was informed about the federal govern-
ment decision at a meeting in Agriculture Department on Thursday. The minister was likely to take the matter with the chief minister today. Later in the day, the secretary agriculture also brought the matter to the notice of the chief secretary. According to the document shared with Customs Today, the federal government’s Rs341 billion Prime Minister Kissan Package includes Rs20billion component under which direct cash support of
Rs5,000 would be provided to all cotton farmers who own and cultivate an area of less than 12.5 acre. The subsidy will be shared by the federal and provincial governments on 50-50 basis. Another Rs20 billion would be spent on a similar package for the rice farmers. Moreover, a fund of Rs20 billion is to be created through equal contribution of federal and provincial governments to provide DAP to farmers on reduced prices.
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he Collectorate of Customs Adjudication-II under the supervision of Collector Chaudhary Javed has issued a show-cause notice to M/s Huzaifa Enterprises for evading Rs 1,263,869 on import of polyester tops by claiming inadmissible benefit of SRO 1125(1)/2011 dated 31.12.2011. According to details, it has been reported by the Directorate of Post Clearance Audit Karachi, while scrutinizing import data found that M/s Huzaifa Enterprises, imported consignments of polyester tops through Model Customs Collectorate Appraisement East and illegally availed the benefit of concessionary rates of sales tax and income tax. The concession offered vide SRO 1125(1)/2011 dated 11.12.2011 are only admissible to manufacturers of goods covered in five sectors only as highlighted in the conditions given in the said notification. And where, on further analysis it transpired that the status of M/s Huzaifa Enterprises as available on-
line on the FBR website’s NTN inquiry, was that of an importers/exporters/service provider and the concern was not registered as a manufacturer at the time of alleged imports. Therefore, an amount of Rs 1,263,869 (sales tax amounting to Rs 1,251,356 and withholding tax amounting to Rs 12,513) had been short paid/evaded by the importers on account of paying concessionary rate of sales tax and withholding income tax otherwise not admissible to them. And whereas, an audit observation was issued to the importer dated 29.9.2014 for explaining and clarifying the basis of claiming and availing concessions at the time of imports. The importers, however, failed to come up with any tangible evidence and were also unable to refute the charges leveled by the Directorate of PCA. Therefore, M/s Huzaifa Enterprises violated the provisions of Sections 32(1), 32(2) and 32(3A) of the Customs Act, 1969, Sections 3(1), Sections 3, 6, 7 read with Section 34 of the Sales Tax Act, 1990 and Section 148 of the Income Tax Ordinance 2001, punishable under clauses (1), (9), and 14 of Section 156(1) of the
Customs Act, 1969, Section 33(5) and Section 7A of the Sales Tax Act, 1990 read with chapter X of the Sales Tax Special procedure Rules, 2007 (special procedures) for payment of Sales Tax the importer) and under relevant provisions of Section 148 of the Income Tax Ordinance, 2001.
ing scrutiniz e l i h w i ch s pcA kara ta found that M/ a import d rprises imported nte huzaifa e ents of polyester consignm h Appraisement ug tops thro llegally availed i east and cessionary rates f con benefit o x and income tax a of sales t
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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
Latest world Bank report
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akistan has been facing very odd situations since its inception – most of the time self-made and self-inflicted. The present government claims the credit of all the positive signs appearing in the country’s economy, but ignores to accept responsibility of its failures in various other fronts. At a time when the world economies are open up to foreign investment, Pakistan seems to have adopted a reverse course of action and the latest World Bank report is a big question mark on the government’s performance, specifically Finance Minister Ishaq Dar’s who is on the driving seat of the Pakistani economy. In its report appearing on Tuesday, Pakistan has shed 10 points in ease of doing business to stand at 138th position among 189 economies of the world, thanks to the administrative failure at large. According to the report, almost all the indicators with regard to ease of doing business have shown bleak performance of the government institutions, from the benchmarks of getting an electricity connection for a business concern to paying taxes. The bank, in its report “Doing Business 2016”, measures the regulatory quality and efficiency of the government institutions, and estimates that the country incurs annual losses up to 34 percent due to power failure alone. The report says that it is very difficult to get electricity connection in Pakistan, dropping the country from 146th position last year to 157th position this year. On another note, India has improved its ranking, moving up 12 places to stand at 130 on the global ease of doing business index. It should be a point to ponder for the Pakistani policymakers who do not tired off eulogizing the performance of the government institutions. The report puts Pakistan at the sixth place among SAARC countries, below Sri Lanka, Maldives, Nepal, India and Bhutan. Sri Lanka has moved up from 113th position to 107th, Maldives stands at 125th from 128th, but Bangladesh came down at 174th from 173th whereas Nepal and Bhutan are the only South Asian countries which rank within the first 100. Pakistan ranks 171st on paying taxes and 157th on getting electricity. According to the report, cross-border trading and enforcing contracts also contribute to the lower ranking of the country in ease of doing business. The policymakers should give serious considerations to the reports from international agencies which bespeak flaws in government policies. The people are oscillating between hope and despair on such reports. The countries in the region have already started reforms programmes and the government should also follow the suit in the best interest of the nation.
Import of LNg from Qatar T
LAHORE
Dr AFtAB AFZAL
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he Economic Coordination Committee (ECC) is expected to give a go-ahead signal to the Ministry of Petroleum and Natural Resources to sign an enormous deal worth $16 billion with the Qatar government to import liquefied natural gas (LNG). The US energy giant ExxonMobil and French firm Total, which share parts of the Qatar Petroleum, are also willing to supply gas to Pakistan. It is good omen that the present government has started various ambitious plans to meet the energy needs of the country and the agreement with
Qatar should be seen in this context. Another deal is in pipeline to import gas from Turkmenistan. The country has been facing energy crisis for the last many decades and it has hampered the industrial growth as well as the quality of life. Earlier, the petroleum ministry had sought the ECC’s approval to pave the way for the state-owned Pakistan State Oil to execute the agreement with Qatargas in line with the government-to-government deal. According to newspaper reports, the ECC will again take up the issue in its next meeting and a summary has already been sent to the committee. The gas supply contract will be signed under specific formula keeping
in view the existing price of Brent crude oil. The agreement will cover at least 15 years until 2030 and price mechanism will be revised after every 10 years with right to terminate the agreement from any side. At least 1.5 million tons of LNG will be imported in the first year while the volume of supply will be increased to three million tons from the second year. The imported gas will reach the consumers mainly through Sui Northern Gas Pipelines Limited and Sui Southern Gas Company. According to news reports, the two gas supply companies are already facing huge deficits due to pilferage of gas in the industrial sector. Many industrial concerns are involved in the pil-
ferage of gas, looting the national wealth from both hands. Many individuals are openly offering services to the industrialists to change the readings of the gas meters in connivance with the government officials. If this situation is allowed to continue, the end result of the government efforts will be an utter failure. The present government has enacted tough laws to fix the gas thieves, but every law in this country hits snags at the implementation stage. To stop the electricity and gas pilferage, the government should introduce card system – prepaid and post-paid. Enacting the laws without having honest implementation machinery is a futile exercise.
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MCCI urges govt to stop import of foreign textile products MULTAN: The government should come forward promptly and put restrictions on the import of Indian and Chinese textile products to save the local industry or else it will engulf the textile sector of Pakistan. These views were expressed by Multan Chamber of Commerce and Industry (MCCI) President Fareed Mughees Shaikh in a statement. He said that the dumping of Indian and Chinese textile products are badly affecting the textile industry of the country and as a result many of the units have been closed. He said that government is going to implement a regulatory duty on textile sector from Nov. 1, 2015 under the new textile policy and because of it the problems of the industry will enhance.He appealed the government to issue an SRO of regulatory duty to save the industry otherwise due to this continuous decline the loans of banks which are in billions and the crop of cotton will severely get the damaged and at the end the government as well as the farmers will face the music.
Qatar chamber launches training programme for customs agents training programme for customs agents started at Qatar Chamber(QC) headquarters. The event is being jointly organized by the chamber and the General Authority of Customs (GAC). The programme, which runs until November 15, involves a set of topics, including customs law, customs idioms, customs clearance, protection of intellectual property rights and outstanding issues related to fees and international organisations and conventions, Qatar Chamber said in a press release. Trainees will be introduced to customs procedures; rules of origin; the harmonised system; facilitation, commitment, customs exemptions in addition to other topics of relevance. The programme is divided throughout 96 hours and lasts for 16 days. A group of customs experts lecture in the programme in which trainees are to receive a certificate after concluding it. Guma Al Nuaimi , GAC Head of Customs Agents Affairs, said in the opening ceremony that the programme aims at developing and strengthening skills of working in this career for the benefit of facilitating clearance procedures. It provides participants full knowledge on all customs related laws and procedures. QC Training & Development Officer Dr Ahmed Usama said this programme is among the latest services provided by the department to fulfill the need of companies willing to facilitate their transactions in ports. About 50 trainees are taking part in the course and the final exam will be at the Authority premises, Usama noted. Meanwhile, A training programme for customs clearance officers will be conducted at Qatar Chamber (QC). The 15day exercise is being organised in co-operation with the General Authority of Customs (GAC). The objective is to give accredited qualifications for the customs clearance officers by training them on the necessary skills to enable them to offer high quality services to the public dealing with them.—CB Report
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Saturday October 31, 2015
Chambers
SccI to encourage teachers by awarding medals, prizes T
SIALKOT
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aking another step towards the promotion of quality education, the Sialkot Chamber of Commerce and Industry (SCCI) has announced to encourage the heads and teachers of the government schools and colleges at every level for showing the good performance. SCCI President Mansur Ahmed, while chairing an SCCI departmental committee for education promotion, declared that the SCCI would award gold medals and cash prizes to the heads and teachers of the government educational institutions He said that it was the Qirst time that the Sialkot exporters were moving towards the goal of education promotion and acknowledging the services of the teachers’ community and education sector at every level. He said that the promotion of quality education and easy access of the students to the education was the need of the day and was also vital for increasing the national literacy rate as well. SCCI President added that the
teachers were the masons of the nation and they should also focus on educating the students besides building the good character and personality of the students, enabling them to serve the nation and the country in a better way in the future as well. He said that encouragement of the heads and teachers of the gov-
ernment educational institutions for the good results and performance was also direly needed. Ahmed also pledged to make all out sincere efforts to ensure the early start of the grand mega project of establishment of a Technical University at Sialkot, saying that the government had already allocated 500 acres of land for this university
KCCI hands over relief goods to Sindh affectees
W KARACHI
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ith a view to share the miseries and hardships being suffered by the affectees of recent earthquake which trembled many areas in Khyber Pakhtunkhwa and Punjab provinces, the Karachi Chamber of Commerce and Industry (KCCI) has donated two containertrucks carrying blankets, tents and sleeping bags which were handed over to Sindh government in an effort to supplement Chief Minister Sindh Relief Program for Earthquake Affectees. Chairman Businessmen Group and former president KCCI Siraj Kassam Teli and vice chairman BMG Zubair Motiwala along with president KCCI Younus Muhammad Bashir handed over the two container-trucks laden with relief goods
to Chief Minister Sindh Syed Qaim Ali Shah during a simple ceremony held at Chief Minister House. Senior Vice President KCCI Zia Ahmed Khan, Former president KCCI AQ Khalil, Chairman Special Committee for My Karachi Exhibition Idrees Memon and others were also present on the occasion. Chief Minister Sindh Syed Qaim Ali Shah warmly welcomed the goodwill gesture shown by BMG leadership and KCCI OfQice Bearers who promptly responded to the hardships being suffered by our brothers and sisters inhabiting in Punjab, KPK and other northern areas of the country. Speaking on the occasion, BMG chairman and former president KCCI Siraj Kassam Teli expressed deep sympathies with the affectees of devastating earthquake whose houses have either been severely damaged or completely Qlattened by the devastat-
ing earthquake of 8.1 magnitude. As a result, thousands of affectees have become homeless and have no other option but to spend their lives under open sky in the ongoing subzero winter season, he added and urged people from all walks of life to come forward and donate generously for this noble cause. President KCCI Younus Muhammad Bashir also urged the business and industrial community to come forward and extend a helping hand to the brothers and sisters in distress who were living their lives in extremely dire circumstances. “Earthquake affectees should not be left stranded at any cost and it is the obligation for all of us to fully support the poor families in distress”, he added. He noted that although many organizations have come forward to provide relief and the government along with the armed forces were utilizing all available resources to minimize the sufferings of people which must be appreciated.
which would help to provide the skilled labour force to the export oriented industry of Sialkot. He said that the SCCI would soon hold a national level education conference at SCCI for Qinding out the ways to promote the quality education in Sialkot and brining betterment in the performance of the government schools and colleges in Sialkot. He assured SCCI’s full cooperation for this noble cause besides announcing to form a special monitoring committee which would monitor the performance of the said schools and college in Sialkot district, in this regard. SCCI SVP Muhammad Sarfraz Butt, Chairman SCCI Departmental Committee for Education Promotion Dr. Khurram Anwar Khawaja, Dr. Muhammad Aslam Dar, Prof. Javaid Akhtar Billah (Principal Govt. Murray College Sialkot), Mian Muhammad Anwar , Prof. Munawar Mirza, RDO Abdul Rauf Mughal and Farzana Kausar (Deputy DEO Education Sialkot) also attended the meeting and they gave very positive and effective suggestions for education promotion in Sialkot under the umbrella of SCCI.
clark chamber meeting for businesses information he Clark Chamber of Commerce met on Wednesday morning for its regular monthly meeting. The breakfast meeting was hosted by TAP into Clark and was well-attended by township officials and members of the Clark business community. Clark Business Administrator John Laezza reported that attempts to form a special improvement district, or SID, along Westfield Avenue had been unsuccessful. The exploration of the SID was the result of a meeting held in March, 2015, during which various options to implement improvements along the avenue were discussed. “It looks like they [property owners] don’t want to put up any money,” Laezza said. —CB Report
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Saudi Arabia Port implements new customs regulations for IMDG import Saturday October 31, 2015
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RIYADH: With effect from 13 November 2015, ports in Saudi Arabia will not allow the discharge of any chemicals in the port except for shipments that have been pre-cleared by the customs authorities, MOL said in its press release. The clearance permission procedure must be completed before arrival of the chemicals in the port, with delivery to the consignee within a period not exceeding 3 working days from the date of completion of the local customs formalities. A pre-clearance form must be obtained from the shipper or consignee and be submitted to the port with hazardous cargo manifests before the arrival of the ship.
uk to auction off $3.8m of smuggled Dubai gold cuStoMS BuLLetIN report www.customsbulletin.com
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police arrest garnish man in booze smuggling case 26-year-old Garnish man is facing charges under the Federal Excise Act and the Provincial Liquor Act for possession of contraband alcohol. Police seized 66 bottles of various brands and a quantity of cash from a residence in Garnish. Members of the RCMP, including the Federal Policing Operations West (Burin) with assistance from the RCMP detachment in Marystown, executed a search warrant at a residence in Garnish. Police seized 66 1.75-litre bottles of various brands and a quantity of cash from the home. Two firearms were also confiscated for unsafe storage. The RCMP believes the alcohol was destined for sale to the general public in Garnish and the surrounding area.—CB Report
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he gold, estimated to be worth more than £2.5 million ($3.8 million), was seized during an investigation by the UK’s HM Revenue and Customs (HMRC) into a £9 million smuggling plot that saw the gang’s leader jailed for nine years back in 2012. Chaudry Ali from Middlesex tricked customs ofQicials by swapping bags with couriers at European airports, according to press reports from the UK. He recruited two couriers who would Qly to Dubai via Frankfurt to collect hauls of jewellery including rings, bands and chains, as well as gold bars and a statue. They would leave the UK in the afternoon and arrive in Dubai the next morning. After collecting the gold they would leave Dubai the same day and meet Ali in a Frankfurt airport lounge. Ali would be carrying bags of clothes, which he would swap with the stashes of gold jewellery and both parties would Qly sepa-
hk police seize 144.5kg of suspected ketamine
rately to the UK. As he had not left the EU, Ali would not have been liable to pay duty on the gold. He had also allegedly forged paperwork saying he was a gold dealer. Ali was later ordered to pay back £4.3 million of his criminal proQits or serve an extra 10 years in prison at a subsequent court hearing in 2014. The gold is to be sold on October 30 at Wilsons Auctions in Belfast for prices ranging from £200 to £5,000 per lot. According to the newspaper, two online auctions have already
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taken place and raised almost £700,000. Kevin Newe, assistant director of HMRC’s Fraud Investigation Service, was quoted as saying: “Our work doesn’t stop when a criminal is sentenced; we always look to reclaim their illegal proQits for the nation’s Qinances to fund the public services used by everyone. “By auctioning the gold we seized during the investigation we are moving another step closer to bringing this long and complicated case to a conclusion and ensure justice is fully served.”
Dubai Customs devises Smart Majlis plan new action plan has been devised by Dubai Customs’ Strategy and Corporate Excellence Department to keep pace with the Mohammed bin Rashid Smart Majlis initiative. The MBR Smart Majlis is the largest smart and integrated platform in Dubai connecting 30 entities that will receive suggestions, comments, and ideas on which brain-
storming sessions will be conducted. The plan has set clear the guidelines, the processes and follow-up mechanism for the implementation of this initiative, ensuring that Dubai Customs is a key diver in fulQilling the goals of MBR Smart Initiative. Ahmed Mahboob Musabih, Director of Dubai Customs, headed a meeting with DC’s top ofQicials.—CB Report
fficers arrested six Hongkongers, four men and two women, who are believed to be key figures in the syndicate. Police are still searching for the mastermind. Chief Superintendent Albert Chan Kin-hung of the Narcotics Bureau said it was possible further arrests would be made. He said the haul came from the mainland and was for local consumption. “We believe the syndicate was in operation for about two months,” Chan said today. We believe the syndicate was in operation for about two monthsALPolice began an investigation
into the syndicate after receiving a tip-off about two months ago. On Monday night, officers arrested four men aged from 21 to 31 and one woman, 17, in a raid on a village house in Tsing Lung Tsuen off Castle Peak Road in the northern New Territories. They seized 144.5kg of suspected ketamine with an estimated street value of HK$18 million inside the house. Last night, police arrested another woman aged 33. The suspects were still being held for questioning and had not been charged this afternoon. Police figures show seizures of ketamine rose 59 per cent to 462kg in the first eight months of this year from 290kg in the same period last year.
Air canada expands its global destinations
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ir Canada continues to move ahead with its push to become a global airline, announcing new routes for its 787 Dreamliner jets, and vacation destinations with its leisure carrier Rouge. The airline keeps adding direct routes, such Toronto to Seoul, South Korea, to lure the lucrative business traveller, as well as Montreal to Casablanca, Morocco, for holiday seekers. And soon it can boast it flies to six continents. Air Canada has taken delivery of 10 Boeing 787 Dreamliners from its order of 37 planes, considered key to its fleet replacement plans. The last two planes have been the 787-9, which is the larger version, offering more range, more cargo capacity and a slight lower unit
cost. Ben Smith, Air Canada’s president of passenger airlines, says the plane has “outperformed on many fronts,” so the airline is now able to design ideal routes with this plane in mind. Air Canada continues to add routes with plans to fly into North Africa next summer. In November, the airline will launch flights between Toronto and Delhi, as well as Toronto and Dubai. Smith says the airline is focused on adding big business routes as well as popular leisure spots, such as cities in Europe next summer like Budapest, Prague, Warsaw and Glasgow. The flight to Morocco means the airline will fly to North and South America, Europe, Asia, Australia and Africa.—CB Report
McMc, customs to ensure fixed prices: Jailani
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he government will ensure mobile phone prepaid card retailers adhere and sell prepaid cards according to prices set starting from Jan 1 next year, said Communications and Multimedia Deputy Minister Datuk Jailani Johari.
He said to ensure traders abide by the prices set, the Malaysian Communications and Multimedia Commission (MCMC) and Customs Department would be monitoring the situation. “Authorised prepaid card retailers should carry out their responsibilities as required, otherwise we will take the necessary action,” he told reporters after opening the Sarawak Community Postmen Con-
vention here today. Prime Minister Datuk Seri Najib Abdul Razak when tabling the 2016 Budget announced that consumers would get rebates equivalent to the amount of GST paid, which will be credited directly into their prepaid accounts from Jan 1 to Dec 31 next year. On Oct 19, Deputy Finance Minister Datuk Johari Abdul Ghani said telecommunications companies have
been given up to Oct 31 to ensure the price of prepaid cards for mobile phone return to pre-GST level. Communications and Multimedia Minister Datuk Seri Salleh Said Keruak said a system was being developed to effectively implement rebates for mobile prepaid cards, which can be used to differentiate between local and foreign prepaid mobile phone users.
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Ports may need up to $1b to update terminals LONDON: Port commissioners from Tacoma and Seattle on Tuesday adopted their first budget for a new cargo alliance while warning they’ll have to spend hundreds of millions more to make the port facilities competitive with rivals. The $174.5 million included in the Northwest Seaport Alliance’s 5-year capital budget is “woefully inadequate to our needs,” asserted Tacoma Port Commissioner Don Meyer as the two commissions were preparing to accept the budget. Meyer predicted the alliance and the two ports will have to spend $800 million to $1 billion over the near future to equip the two ports to handle the new generation of mega-sized container ships.
gwadar, chabahar seaports to operate as ‘sister ports': pM rime Minister Nawaz Sharif Thursday said the Chabahar and Gwadar seaports would work as ‘sister ports’ and their operational activity would complement each other. The Prime Minister expressed these views while talking to Rear Admiral Ali Shamkhani, Secretary Supreme National Security Council of Iran here at the PM House. The Prime Minister said Pakistan and Iran are brotherly countries and share deep historic and cultural ties. He mentioned that Pakistan had rendered invaluable sacrifices in war against terrorism and Operation Zarb-e-Azb was yielding very positive and fruitful results. Iranian National Security Secretary Ali said terrorism has no boundaries and it is a common enemy of both the countries. —CB Report
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greece participated for first tim in International Shipping exhibition reece participated for the first time with its own pavilion at the International Shipping and Shipping Engineering Kormarine BUSAN 2015 that was held on 20-23 October 2015 in Korea. Enterprise Greece in cooperation with HEMEXPO organised the Greek participation. Enterprise Greece and HEMEXPO under the slogan “Smart Ship Solution-Greek Marine Equipment” have joined their forces in order to inaugurate a series of actions to promote the Greek Shipping Equipment and the attraction of investment capitals to the Greek company involved in the sector. The exhibition was held at the exhibition center BEXCO with the participation of 1,200 companies from 40 countries and over 15 national participations. According to the organisers the visitors exceeded 40,000.—CB Report
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Abu Dhabi ports presents opportunities to India
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he master developer, operator and manager of ports and industrial zones in the Emirate presented the offerings of its Khalifa Industrial Zone Abu Dhabi (Kizad) and Khalifa Port at an exclusive business event in Dubai. Organised by Abu Dhabi Ports in association with Indian Business and Professional Council (IBPC), the invitation-only event for Indian businessmen was held at JW Marriott Marquis Hotel. The world-class facilities and infrastructure available for businesses in Kizad―the industrial and logistics hub of the state-of-the-art Khalifa Port― were detailed in the halfday event titled “Opportunities in Abu Dhabi―A Global Trade, Manufacturing and Logistics Hub”. His Excellency T.P. Seetharam, the Indian Ambassador to the UAE, delivered the keynote speech at the event, which attracted over 70 top Indian businessmen from across the UAE. “Abu Dhabi Ports values the collaboration with the IBPC that represents top Indian businessmen in the UAE, who contribute heavily to the
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global smartwatch shipment surges over 500% YoY in Q3 lobal smartwatch shipments surged more than 500 per cent year-on-year in the third quarter as demand for the Apple Watch continued to grow ahead of the holiday shopping season. “The United States, [countries in] Western Europe and China are the three big markets driving Apple Watch sales at the moment,” Neil Mawston, the executive director for global wireless practice at technology consultancy Strategy Analytics, told the South China Morning Post. Strategy Analytics estimated that global smartwatch sales in the three months ended September 30 grew 510 per cent to a record quarterly high of 6.1 million units, up from 1 million in the same period last year. Apple shipped 4.5 million units for a dominant 74 per cent global market share last quarter. Samsung Electronics cornered a 10 per cent share with smartwatch shipments of about 600,000 units, while other smartwatch players shipped a combined 1 million units. Senior analyst Rajeev Nair, of Strategy Analytics, said Apple and Samsung together accounted for eight in 10 of all smartwatches shipped around the world in the three months to September. Total smartwatch shipments this year are forecast by Strategy Analytics to reach 28 million units, with Apple accounting for 13 million.—CB Report
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UAE economy. As Indian businesses based in the UAE and India are keen to expand their business, we are happy to introduce the unique offerings of Kizad and Khalifa Port to them,” said Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports. “Kizad’s outstanding access to markets, world-class infrastructure and dedicated investor support – with Khalifa Port at its doorstep, will prove attractive to their businesses and expansion plans. I am conQident that our offerings have the poten-
tial to support their efforts to boost trade ties between India and the UAE,” he said. IBPC President, Mr. Kulwant Singh, said: “There are many Indian investors keen to invest in the UAE, especially in Abu Dhabi. We appreciate the efforts and information shared by Abu Dhabi Ports and promise to arrange delegation visits to Kizad and Khalifa Port in the near future.” Many Indian businesses have already set up their businesses in Kizad.—CB Report
gener8 Maritime signs $60 million loan ener8 Maritime, Inc. entered into a term loan facility (the “Citibank facility”), by and among the Company’s whollyowned subsidiary, Gener8 Maritime Subsidiary VII Inc. (“GNRT Sub VII”); the Company as parent; the lenders party thereto; and Citibank, N.A., New York Branch as
Saturday October 31, 2015
Facility Agent and Collateral Agent in order to fund a portion of the remaining installment payments due under the shipbuilding contract for one VLCC newbuilding owned by the Company. The Citibank facility provides for term loans up to the aggregate approximate amount of $60,174,000, which were drawn on
October 23, 2015. The loans under the Citibank facility will mature on October 21, 2016, provided that if certain extension conditions are satisfied on or prior to the oneyear anniversary of the effective date of the facility, the maturity date will be extended to October 21, 2020.—CB Report
Zacks upgrades genco Shipping & trading shares
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acks upgraded shares of Genco Shipping & Trading from a sell rating to a hold rating in a research note released, Marketbeat.com reports. According to Zacks, “Genco Shipping & Trading Ltd. is a ship owning company. It transport iron ore, coal,
grain, steel products and other drybulk cargoes along shipping routes. The company owned Qleet of dry cargo vessels which consists of Capesize, Panamax, Ultramax, Supramax, Handymax and Handysize vessels. Genco Shipping & Trading Ltd. is based in New York, United States. “The company had a trading volume of 519,788 shares. The company has a market capitalization of $180.29 million and a
price-to-earnings ratio of 0.28. Genco Shipping & Trading has a 12month low of $2.79 and a 12-month high of $7.85. The Qirm has a 50-day moving average of $4.20 and a 200 day moving average of $5.39. Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Tuesday, August 4th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of
($0.69) by $0.02. The business earned $34.60 million during the quarter, compared to analyst estimates of $81.69 million. On average, equities research analysts forecast that Genco Shipping & Trading will post ($1.80) earnings per share for the current year. In other news, insider John C. Wobensmith sold 17,190 shares of the stock in a transaction that occurred on Wednesday, August 12th.
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Customs Court sends alleged tax evader on judicial remand LAHORE: The Special Court of Customs Taxation and Anti-Smuggling has sent a suspect of income tax evasion on judicial remand for 14 days. According to the details, accused Fazal Hussain was allegedly involved in evasion sales tax and income tax. The Federal Board of Revenue intelligence found that Fazal made huge bank transactions but he never paid a single penny to the national kitty. After confirmation of the sources of his income and his bank transactions, the team of Inland Revenue, Lahore arrested him.
Saturday, October 31, 2015
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Sialkot Anti-Smuggling organization seizes 300kg smuggled black tea SIALKOT guLZAr AhMeD
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he Customs Anti-Smuggling Organization (ASO) Sialkot has seized the 300 kilograms of foreign origin smuggled black tea worth Rs 100,000 during an operation. As per details, the ASO team following credible information received through Model Customs Collectorate Sialkot Collector Ahmad Reza regarding the storage of smuggled black tea, conducted raid in its jurisdiction. The ASO team raided a warehouse and recovered sacks Qilled with black tea on which it asked the owner of the warehouse to produce the documents showing legal import of the item but he remained failed, therefore, the customs ofQicials conQiscated the items under the customs law. The ofQicials said that case has been registered against the accused, while further investigation is underway. in this regard. Meanwhile, Collector Model Customs Collectorate (MCC) Sialkot Ahmad Reza Khan has said that the Federal Board of Revenue (FBR) and Pakistan Customs are introducing businessfriendly policies to encourage the business community to promote the coun-
try’s exports. He stated this while discussing in details the matters of mutual interest with SCCI President Maj
(r) Mansur Ahmed during his visit to Sialkot Chamber of Commerce and Industry (SCCI) here. Collector Ahmad
Reza assured that Sialkot business community’s all prolonged perturbing problems would be solved on pri-
ority basis besides ensuring the early end to the prolonged pendency of the rebate payments claims.
Embezzlement of funds: NAB KPK arrests ex-agency coordinator of FDMA PESHAWAR
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he National Accountability Bureau (NAB) Khyber Pakhtunkhwa has arrested Inayat Ullah, a former Agency Coordinator of the FATA Disaster Management Authority (FDMA) for his alleged involvement in embezzlement of funds in Housing Uniform Assistance Subsidy Project (HUASP) for Bajaur Agency and
looted more than Rs 400 million. As per details, under the Housing Uniform Assistance Subsidy Project the government, with the assistance of USAID, had paid compensation to Internally Displaced Persons (IDPs) whose houses had been damaged in the military operation against the miscreants. Under the project Rs 400,000 were paid to each individual whose houses had been completely damaged, while Rs 160,000 were paid to the owners of the partially damaged houses. Total payment of almost Rs 2.5 billion was made under the project to almost 10,000
affectees of the Bajaur Agency. During the Course of inquiry it was revealed that the accused Inayat Ullah ex-Agency Coordinator (FDMA) with the connivance of local elders of Bajaur Agency, bank ofQicials and other FDMA ofQicials included fake/ineligible persons in the payment lists. He paved the way for embezzling millions of rupees meant for the poor and war affected people of Bajaur Agency. It merits mentioning here that Arshad Khan ex-Director General FDMA and Irfanullah, Assistant Director FDMA had already been apprehended in the instant case.
NAB Khyber Pakhtunkhwa actively perusing the case and more alarming facts are expected to come forth in the scam. The accused will be produced before Accountability Court Peshawar for obtaining his physical remand. Meanwhile, The National Accountability Bureau (NAB) Khyber Pakhtunkhwa arrested Muhammad Iqbal, the then Branch Manager of the Habib Bank Limited Khar Bajour Agency presently posted as Branch Manager of the HBL in Inayat Kalay Bajour. He is allegedly involved in embezzlement of funds in the compensation payment made to the af-
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fectees of terrorism after operation in Bajaur Agency (FATA) and looted millions of rupees. As per details, the government announced compensations for the affectees of Mohmand and Bajour agencies @ Rs 160,000 for partially damaged houses and Rs 400,000 for complete damaged houses. During the course of inquiry, it was revealed that the accused Muhammad Iqbal pasted fake signatures on the bank account opening forms and opened hundreds of bogus bank accounts in the name of so-called affectees in Habib Bank Limited (HBL) Khar Branch Bajour Agency (FATA).