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pAkIStAN’S FIrSt INDepth NewSpAper oN cuStoMS
Daily
Vol 1 Issue No. 191
Karachi, Fri October 2, 2015
ISLAMABAD
M FAIZAN
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pecial Judge of Customs Taxation and Anti-Smuggling Judge Rana Aftab has directed customs ofRicials to include the Shah Clearing Agency, whose employees were detained by customs on clearance of consignment through fake delivery orders and gate passes, into investigation. As per details, customs ofRicial had arrested three employees of the clearing agency for their alleged in-
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volvement in the clearance of consignments without paying the taxes at Air Freight Unit of Islamabad airport and presented them before the Customs Court. The court had sent the accused persons namely Babar and Shahid and another on physical remand for further interrogation where they confessed the crime. They revealed that a consignment comprising computers and its accessories imported from Malaysia was cleared by them deceitfully against receiving Rs 22,000, adding that the consignment was handed over to the importer of said consignment.
Collector Mujtaba’s Hyderabad Customs generates Rs 39.9m through auction
SHC seeks comments from Sindh Revenue Board on Rs 27m tax notice
CPEC further strengthens Pak-China friendly ties: Chinese Ambassador
Customs Court asks jail officials whether alleged smuggler is juvenile
SCCI new cabinet for early completion of mega projects in Sialkot
The Model Customs Collectorate Hyderabad has generated Rs 39.9 m | See pAge 02 |
The SHC on Wednesday directed the officials of Sindh Revenue Board | See pAge 03 |
Chinese Ambassador Sun Weidon, while addressing a reception hosted | See pAge 04 |
The Special Court of CustomsTaxation and Anti-Smuggling has sought a report. | See pAge 12 |
The newly elected cabinet of SCCI has vowed to continue struggle for ensuring | See pAge 09 |
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Sialkot ASO impounds non-duty paid Toyota Vitz Friday, October 2, 2015
National
SIALKOT: The Customs Anti-Smuggling Organization (ASO) Sialkot has impounded non-duty paid used Toyota Vitz car worth Rs 765,000. Source said that ASO officials intercepted a vehicle in its Jurisdiction and asked the driver to show the documents regarding the legal import of the vehicle. However, he failed to produce documentary evidence and the customs officials impounded the car. The sources said the ASO has lodged an FIR against accused for further investigation.
collector Mujtaba’s hyderabad customs generates rs 39.9m through auction
customs court hears 25 cases on wednesday LAHORE
M IMrAN MehAr
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HYDERABAD
ASLAM ANJuM QureShI
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he Model Customs Collectorate Hyderabad has generated Rs 39.9 million through auction of Iranian diesel and other smuggled goods. These goods were seized by the Anti-Smuggling Organisation (ASO) on the instructions of Hyderabad Collector Dr Ahmed Mujtaba Memon. According to details, the ASO team – under the supervision of Additional Collector Umar ShaRique – conducted raids in different areas to conRiscate smuggled Iranian diesel, vehicles and other goods. The raiding team consisted of Senior Inspector Abdul Ghafar Shaikh, Inspector Khair Mohammad Pathan, Inspector Shafi Mohammad Jamali, Inspector Waqar Ahmed Baig, Mushtaqe Ali Lakho and other officers. The team successfully impounded an unregistered Toyota Prado and seized miscellaneous goods, including thousands of litres of Iranian diesel. The conRiscated items were then presented for open auction at the Hyderabad Customs’ State Warehouse. The auction was conducted under the supervision of Hyderabad Customs (HQ) Assistant Collector Samiullah along with Deputy Su-
he Special Court of Customs Taxation and Anti-Smuggling heard as many as 25 different cases on Wednesday and adjourned all cases for next hearings. Pre-arrest bail pleas of Muhammad Aslam, Ismail, Muhammad Shakeel and Shahbaz were also adjourned for Thursday and Friday. The cases, including tax evasion, customs, smuggling and narcotics, were scheduled for the day. The court also recorded statements and witnesses in four different cases. The cases of Lahore, Gujranwala, Sialkot and Jhelum were scheduled for hearing, in which court ordered the prosecution teams to complete investigation challans of the cases as soon as possible. Chaudary Ameer Muhammad Khan special judge of Customs Taxation and Anti-Smuggling Court has also directed court staff to speed up work in order to clear the backlog of cases. Meanwhile, In the Special Court of Customs Taxation and Anti-Smuggling, different cases were scheduled for hearing on Tuesday. Special Court accepted bail pleas of two suspects. The Special Court of Customs Taxation and Anti-Smuggling heard 24 important cases and adjourned bail pleas of Muhammad Asghar, Abdul Ali, Muhammad Sadiq, Faisal Khalid, Ahmad Nawaz and Shahzad Ahmad.
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perintendent/In-charge of Hyderabad State Warehouse Sanaullah Soharwardi, Inspector Saleem Ajmari, Inspector Allauddin Kaim Khani and
Hawaldar Mohammad Hussain. The impounded vehicle and other miscellaneous goods fetched Rs 5,758,050, while the diesel was
auctioned for Rs 34,184,227. The total approximate revenue generated through this auction was Rs 39.9 million.
FBR extends deadline for filing withholding tax returns to October 8 MULTAN
IMrAN ALI
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he Federal Board of Revenue (FBR) has extended the last date for filing monthly withholding tax statements to October 8, 2015. According to details, the FBR extended the duration for filing
monthly withholding tax declarations for the month of July and August. The Federal Board of Revenue has extended the date for the monthly withholding statement due to Eidul Azha holidays to facilitate the taxpayers. The FBR has already extended due dates for filing withholding tax statements for the months of September. The board has made this decision on the repeated demands of taxpayers to further extend the deadline. Now, more taxpayers will
be able to avail this facility and file their withholding tax statements by the new deadline. Meanwhile, The Federal Board of Revenue (FBR) Regional Tax Office (RTO) Multan has established the income tax counter for the collection of tax returns in the location of Gulgasht Colony. According to details, FBR has provided the tax facilitation services in the location Gulgasht Colony. Gulgasht is one of the high-class areas where lot of taxpayers of the
Multan City exist. The establishment of the special tax facilitation counter will give easy access to people of Gulgasht for the submission of their tax returns for fiscal year 2015-16. The special tax facilitation counter has been established temporarily in the Gulgasht region for the collection of tax returns of economic year 2015-16. Three member staff including Incharge of the special tax counter is Naseem Raza, Supervisor Rehan
Hanif and Upper Division Clerk Shahid Irfan have been deputed. Meanwhile,The Federal Board of Revenue (FBR) Regional Tax office (RTO) Multan has rejected the application of Colony Textile Mills Limited for the change of tax office from RTO Multan to another RTO. According to the details, RTO has refused its application as few tax matters of Colony Textile mills are underway in the appellate tribunal. The company is facing tax evasion cases at the RTO Multan.
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Only 326 parliamentarians submit tax returns out of 1,174 ISLAMABAD: Only 326 parliamentarians have submitted their tax returns out of 1,174 as Wednesday is the last date for submission of tax returns, according to the Federal Board of Revenue (FBR) data. According to the sources, 848 elected members have yet to submit their tax returns. The Election Commission of Pakistan (ECP) has already issued stern direction for submission of tax returns until September 30. Sources added that Prime Minister Nawaz Sharif, Chairman Senate Raza Rabbani and Chief Minister Balochistan Dr Abdul Malik have submitted their tax returns while Chief Minister Punjab, KPK, Sindh and Chairman PTI have yet to submit their tax returns.
ASo foils bid to smuggle 9kg charas KARACHI
Friday October 2, 2015
National
Shc seeks comments from Sindh revenue Board on rs 27m tax notice
AFtAB chANNA
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KARACHI
MuhAMMAD YouSAF he Model Customs Collectorate (MCC) Preventive’s Anti-Smuggling Organization (ASO) has foiled a bid to smuggle nine kilogram of superior quality hashish worth millions of rupees in the international market. According to the officials, the staff of ASO intercepted a passenger bus coming from Balochistan. The authorities recovered 9 kg of superior quality hashish concealed in cavities of the bus. The recovered hashish is worth millions of rupees in the international market. The customs authorities impounded the passenger bus and also arrested two persons who were involved in smuggling of narcotics.
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customs tribunal chief hears 70% cases of different benches ISLAMABAD
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ustoms Appellate Tribunal (CAT), Islamabad, Chairman, Ghulam Murtaza Bhatti heard different cases on Wednesday. As per details, CAT chairman heard more than 70 percent of the cases at least in different benches, thereby leaving very few cases to other members of the tribunal. CAT Chairman, Mumtaz has fixed majority cases before benches chaired by him; which will hear by October 6. On the other hand, Khalid Mehmood, CAT member technical is only assigned three cases to hear as single bench. CAT officials told Customs Today, that Chairman preferred to hear cases personally. Though this practice created troubles for administrative matters, but still it is deemed beneficiary.
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he Sindh High Court (SHC) on Wednesday directed the ofRicials of Sindh Revenue Board to Rile comments on a petition of Noarsh Shipping Services (Private) Limited through which it challenged SRB’s notice for recovery of Rs 27 million tax. Noarsh Shipping submitted that it was issued a show-cause notice by SRB, informing it that the services being provided by it are taxable under section of Sindh Sales Tax on Service Act 2011 and it is liable to pay 16 percent sales tax of total value of taxable services. The petitioner Rirm was asked to explain as to why it had failed to Rile sales tax returns for periods from July 2011 to June 2012 and July 2012 to June 2013. Subsequently, the petitioner Riled a reply to the show-cause notice before SRB’s ofRicer who later issued an Order-in-Original upholding the claim of the SRB. The petitioner’s counsel told the judges that the petitioner approached the SRB’s commissioner Appeals against ONO and the matter is still pending but the SRB ofRicials issued notice for recovery of Rs 27 millions unlawfully and ordered freezing of the bank accounts of petitioner. He complained to the judges that the unlawful act of the SRB ofRicials had affected the petitioner’s business.
The petitioner, therefore, pleaded to the court to order the authorities to withdraw the recovery notice and order de-freezing of its bank accounts so that it could resume its business activities. Meanwhile, The Sindh High Court (SHC) on Wednesday sought comments from the director general of customs valuation and collector of customs MCC Appraisement-East on a petition against the Valuation Rul-
the petitioner firm was asked to explain as to why it had failed to file sales tax returns from July 2011 to June 2012 and July 2012 to June 2013.
Faisalabad ASO holds 4,000-yard smuggled cloth
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he Customs Anti-Smuggling Organization (ASO) Faisalabad has seized, 4000 yards of foreign origin silk cloth worth Rs 570,000 involving duty/taxes amounting to Rs 95,506. Sources told Customs Today that ASO team, acting upon credible information received through Collector Model Customs Collectorate (MCC) Faisalabad, Dr Zulafqar Ali Chaudhary, conducted the raid near
Rail Bazaar Faisalabad. The ASO team comprising Superintendent Zahid Raza Bukhari, Inspector Muhammad Munir Ahmad, Zulfiqar Ali, Rana Abdul Jabbar and others intercepted a rickshaw bearing Registration NoLES-6319 and recovered silk cloth. Following the charges of smuggling, the ASO team seized the cloth under Import and Export trade (control), Act 1950, punishable under Section 156(1), 89 of Customs
Act 1969. Meanwhile, The Customs AntiSmuggling Organization (ASO) Faisalabad has seized ,3500 yards of foreign origin silk cloth worth Rs 500,000 involving duty/taxes amounting to Rs 83,859. Sources told Customs Today that ASO team, acting upon credible information received through Collector Model Customs Collectorate (MCC) Faisalabad, Dr Zulafqar Ali Chaudhary, conducted the raid near Rail bazaar Faisalabad.
ing No. 659/2014 for determining the value of branded tyres. Petitioner Faisal Trading Company moved the court, stating that it imported a consignment of Onyx brand tyres, declaring it as per its transaction value. However, the customs authorities are assessing the value of the goods on the basis of Valuation Ruling No 659/2014 which is much higher as the price of the goods in the international market has reduced.
Customs seizes Rs 5.2m Omani Rial, arrests one accused ustoms Preventive Lahore Allama Iqbal Airport has foiled a bid to smuggle Rs 5.2 million foreign currency from Lahore to Muscat and arrested the accused sources told Customs Today. As per details, the accused Shahbaz Ahmad a resident of Gujranwala hide 20,412 Omani Rial under his clothes and was held by the Airport Customs Authorities.
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Foreign reserves reach $18.5 billion mark Friday, October 2, 2015
Business
KARACHI: The country’s total foreign exchange reserves have reached $18,500.8 million ($18.5 billion) on week ended Sept 18. According to the central bank, the foreign reserves held by the State Bank of Pakistan stood at $13,496.2m, net foreign reserves held by banks are $5,004.6m, thus total liquid foreign reserves reached at $18,500.8m. During the week ending 18 September 2015, SBP’s Liquid FX Reserves decreased by $194 million to $13,496 million, compared to $13,690 million in the previous week. Decrease in reserves is on account of external debt servicing during the week.
cpec further strengthens pak-china friendly ties: chinese ambassador
including politicians, diplomats and civil and military ofRicers also attended the ceremony. The Chinese ambassador said the China-Pakistan Economic Corridor (CPEC) is a milestone project in the history of the two countries, fostering their economic partnership. Ambassador Sun highlighted the progress made in the development of China over the past 66 years, stressing that Chinese economy has entered into the new standard and China continues to deepen reforms and expand opening-up. China is able and conRident to maintain steady and relatively rapid development of its economy.
ISLAMABAD
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hinese Ambassador Sun Weidon, while addressing a reception hosted by the Chinese embassy on the occasion of 66th anniversary of China, has said that the economic corridor has further strengthened the Pak-China friendly ties. President Mamnoon Hussain was the chief guest on the occasion, while a large number of dignitaries,
Ministry directed to curb open sale of petrol
FBr runs rs 63 billion short of tax collection target
ISLAMABAD
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he Ministry of Petroleum and Natural Resources has been directed to immediately curb open sale of petrol and take action against the violators. The Public Accounts Committee, in a meeting held under the chairmanship of Syed Khursheed Ahmed Shah, also reviewed the audit objections for the 2009-10 and 2010-11.
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ISLAMABAD
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he FBR is facing revenue shortfall of Rs63 billion during first quarter (JulySept) period of the current fiscal year as the tax collection stood at Rs584 billion against desired target of Rs647 billion. It seems that the FBR will be facing uphill task for achieving revenue collection
target of Rs 3104 billion for the current fiscal year. The government argues that the revenue collection went up by 30 percent over the last two years as the collection touched Rs2590 billion during the last fiscal year. However, according to provisional revenue collection figures, FBR has provisionally collected Rs584 billion during first quarter of July-September (2015-16) against target of Rs647 billion, reflecting a shortfall of Rs 63 billion. The provisional revenue collection during first quarter of July-
September (2015-16) stood at Rs 584 billion against Rs 541 billion in the corresponding period of 2014-15, reflecting a growth of 8 percent. The FBR has provisionally collected Rs 253 billion for September 2015 against Rs 228 last year, showing a growth of 11 percent. The breakup of tax-wise targets for first quarter of July-September (2015-16), target of direct taxes is Rs 245 billion, sales tax Rs 295 billion, FED Rs 38 billion and target for customs duty has been set at Rs 68 billion.
Allied Bank wins 12th cFA pakistan excellence Award LAHORE
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llied Bank Limited has won the top award at the 12th CFA Pakistan Annual Excellence Awards. The bank has been named the ‘Best Bank of the Year 2014 (Large Banks)’as well as ‘Best Corporate Finance House of the Year 2014 – Equity & Advisory’ by CFA Society Pakistan. Owais Shahid, Chief, Corporate & Investment Banking Group (CIBG), received the award for the “Best Bank of the Year,” conferred upon Allied Bank in recognition of its exceptional performance in terms of profitability, efficiency, growth and solvency, during the year 2014. The “Best Corporate Finance House Award in Equity & Advisory,” received by Tariq Ali, Unit Head, Syndication and Advisory Service, CIBG, was an acknowledgement of Allied Bank’s performance in Investment Banking transactions in Equity and Advisory during 2014. The performance was recognized on the basis of total number, volume and complexity of deals/ transactions executed by the Bank. The performance was recognized on the basis of total number, volume and complexity of deals/ transactions executed by the Bank.
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Property Portal Zameen raises $9 million in venture round LAHORE
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Pakistan’s largest property website Zameen has raised $9 million from three renowned international funds in its latest venture round. The investment has gone into Za-
meen.com’s parent company Zamzama Property Group, which also owns UAE’s leading property portal Bayut.com. The group chose not to disclose the current valuation of either portal, but said the Ali Khan brothers collectively retain controlling interest. The news of the investment comes at the heels of a recent announcement that Zameen.com haswelcomed top names from the global property portal industry into
its team, including: Per Brilioth, the Managing Director of Vostok New Ventures, one of the funds that was part of the venture round, will also join the Board of Directors. Zameen.com was founded in Pakistan by the Ali Khan brothersin 2006. The startup grew in size and scope over the next few years and received an angel investment from French property portal authority Gilles Blanchard in 2012, followed
by a successful Series A round in 2014. The portal has exhibited meteoric growth over the last year, expanding its team from 90 employees at the start of 2014 to well over 300 people across Pakistan currently. It also reached the 2 million monthly visits mark in August 2015. Zeeshan Ali Khan said the portal would remain a quintessentially Pakistani company despite the sizeable foreign investment. “The fact that Zameen.com is lo-
cally owned and locally managed has played a very central role in the portal’s immense popularity, and over the years we have made sure not to compromise on the innate Pakistani-ness that makes Zameen.com one of the country’s most beloved and successful tech enterprises,” he said. “We have been at the helm of a digital revolution in the country that has seen millions of Pakistanis come online for the Rirst time.
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he Federal Board of Revenue (FBR) has withdrawn the notices served upon the Pakistan International Airlines (PIA) on the assurance that airline authorities would pay off Rs 1.70 billion by October 5, 2015. However, the PIA assured it would pay at least Rs 300 million by September 30, 2015. In this regard, the authorities of the FBR and PIA held a detailed negotiation at the PIA headquarters on September 30, 2015. The FBR was represented by Chief Commissioner Mohammad Irshad while the PIA was represented by Chief Financial OfRicer Nayyar, wellplaced sources told Customs Today. “The PIA authorities have assured that they would
ensure the payment of Rs 300 million pending duty/taxes by Sept.30 evening, while the remaining amount would be paid off by October 5, 2015�, sources disclosed. The four bank accounts operated by PIA at Habib Bank Limited (HBL) and National Bank of Pakistan (NBP) were frozen for recovery of Rs 1.2 billion of income tax and Rs 1 billion of federal excise duty. The FBR on May 30 served two notices of FED and income tax on PIA for the recovery of principal amount of around Rs 1.4 billion. The latest recovery included the Rine and penalties as well. In the FED notice, the FBR directed the PIA to pay the outstanding FED amount of Rs 876.81 million in respect of international passengers immediately and proof of payment should be provided to tax ofRice
concerned by June 03, 2015. The notice further said that the PIA was in default of Rs 443.69 million for the tax period December 2014 and Rs 433.11 million for tax period January 2015 as per its own calculation provided to tax ofRice concerned. The amounts were due on April 15, 2015 and May 15, 2015 respectively, but the same had not been paid. In the income tax notice, the notice for personal attendance issued to chief Rinancial ofRicer and assistant manage corporate tax of PIA. The notice was served after non-compliance by the PIA with three previous notices. FBR sources said that due to ofRicial engagement the CFO had not appeared and PIA management provided evidence for income tax matters, which resulted in present recovery demand.
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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
Need to enhance regional trade
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he global value chain is a new concept, covering all aspects of business and trade, and is specifically beneficial for developing economies. The importance of the regional value chain is at par with the global value chain and developing economies in various regions are working in coordination and cooperation with one another to achieve common goals. In a study by Commonwealth Secretariat in 2011, the South Asian countries were advised to develop a supply chain in textile sector to decrease cost of production and increase exports. However, the study also pointed out various hurdles in the development of the supply chain in the SAARC countries. Pakistan, Bangladesh, Sri Lanka and India are all developing nations and need a close cooperation with one another for their own benefits, but bitter colonial legacies have polluted the political environment to the extent that cultural similarities have lost their values. Instead of becoming part of a production cycle, the countries are undergoing the process of polarization. If South Asian countries put aside their difference and take a united stand on trade, industry and business, no one can stop development in this region. The need for cooperation between regional countries is increasing day by day due to the use of modern technology in the production of value added goods. The process of production is also becoming complex and parts of the products are sourced out to lower the manufacturing cost. In Pakistan, the global value chain is still a distant dream and despite all promising economic indicators, the country is facing declining trends in exports. The Pakistan, China Economic Corridor is the best option to enhance regional and international trade. The SAARC countries should also launch regional economic corridors to discourage political differences and encourage collaboration in the field of business and trade. The first thing to do is to narrow trust deficit, particularly between Pakistan and India and enhance cooperation. SAARC was an important forum to discuss political differences, but it has become hostage to the relations of two giant nations. The trust deficit is the main reason of slow trade activities because it is a bottleneck in the way of free trade. There is a need to enhance business to business contacts between the regional countries and improve connectivity through soft borders. India has recently stopped cross border trade with its small neighbor Nepal, increasing the problems of that landlocked country.
Pakistan 10th least innovative country in world A
LAHORE
Dr AFtAB AFZAL
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ccording to a report issued by the Global Innovation Index (GII), Pakistan stands at 134 among 143 economies which mean it is the 10th least innovative country in the world. The index covers 143 countries and uses a range of themes as well as indicators to scrutinise the entire setup of an economy. Out of 100 indicators, the average score of Pakistan is 24. In the sub-index of innovation output, the country ranks 107 out of 143 with a score of 22.6 out of 100 in 2014. However, Pakistan has improved its previous year’s rank-
ing when it was placed at 137 with an overall score of 23.3 percent. China is at 29 and India at 79 in the index. A survey also reveals that Pakistan has a score of 25.4 in 139 countries placed on the innovation input index, regrettably with low innovative efficiency ratio of 0.9 percent. The scrutiny covers two basic areas of economy — innovation input and innovation output. Innovation input covers the domains of the quality of institutions, human capital, research, infrastructure, market sophistication and business ethics whereas the output covers technological and creative outputs. The score of Pakistan is 40.1 among the indicators that determine the strength of its institu-
tions. There are various indicators to ascertain the strength of institutions in the background of political, regulatory and business environment. The score of the country on political environment is 22.8, placing it at 141 and in political stability; it ranks 143 with zero score. In utilization of the human capital and research, the country has been placed at 139 with a score of only 9.8 out of 100. The country spends only 0.3 percent of the GDP on research and development. The report says that skill development is one of the most important factors to raise intellectual capabilities of human capital and it gives impetus to innovation, productivity and economic
growth. The conventional education system only focuses on testbased academic performance and it least inspires young people in the fields of development, creativity and communication. On the side of basic infrastructure, that country is ranked at 124 with a score of 22.2. In information technology and communications, it scored 19.8 points. As a matter of fact, education system is the basic requirement for development, but this sector is dominated by the colonial legacy — less technological but more clerical. There is no dearth of talent and capacity in the human capital, but we are bent upon destroying every faculty of young generation by various means.
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Chinese Customs destroys 848.63kg smuggled drugs SHANGHAI: Recently, Huangpu Customs District destroyed part of smuggled drugs that had been intercepted since 2009, including heroin, ice, cocaine, ketamine, erimin 5 and marijuana, totaling 848.63 kilograms. Cases in connection with this destruction, supervised by the General Administration of Customs, included “5.30” Ketamine Smuggling Case, “7.31”Ketamine Smuggling Case, and the biggest heroin smuggling case since P.R.C. founding——“109”Especially-Big Drug Smuggling Case.
ridgefield chamber board appoints new director NEW YORK
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fter an extensive search, the Ridgefield Chamber of Commerce has announced the appointment of Jennifer L. Zinzi to the role of executive director, effective Oct. 1. In her role as executive director, Zinzi will continue will work to promote Ridgefield business through networking, events and key partnerships. Ridgefield Chamber Board Chair-Elect Christy Kinsman, who headed the hiring committee, said, “We had many qualified professionals apply for the position. The hiring committee was looking for someone with not only an exceptional business background, but who also really understands how special Ridgefield is. We have found that person in Jennifer.” Zinzi comes to the Chamber with business knowledge and a passion for the Ridgefield community. She spent more than two decades in the banking industry, managing the Ridgefield offices of the former Wachovia Bank (now Wells Fargo) as well as Union Savings Bank. While working in Ridgefield, Zinzi was involved with many organizations including ROAR, Founders Hall, and RVNA. She was also a member of the Chamber board of directors. “I am thrilled to join the Ridgefield Chamber of Commerce as executive director,” Zinzi said. “I grew to love Ridgefield when I worked here, and I am excited to be back again, working closely with the members and the community as a whole. The Chamber plays an integral role in the vibrant business economy and I look forward to supporting each and every one.” Annette Hasapidis, the current chair of the Chamber, said, “The Chamber and its board of directors is looking forward to welcoming Jennifer into her new role.
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Chambers
SccI new cabinet for early completion of mega projects in Sialkot SIALKOT
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he newly elected cabinet of Sialkot Chamber of Commerce and Industry (SCCI) has vowed to continue struggle for ensuring the early completion of the mega projects in the city. The mega projects include establishing Sialkot exporters’ own airline “Air Sial”, establishing an international standard Sialkot Business and Trade Center, Sialkot Tanneries Zone, Sialkot Engineering University and another Small Industrial Estate at Sialkot, which will enable the small traders, exporters and vendors to establish their own small industrial units there. The newly elected SCCI Cabinet, today, sworn in during the Annual General Meeting (AGM) held at the auditorium of SCCI here on Wednesday Sialkot business community’s leader Sheikh Riaz d Din administrated oath to newly elected SCCI President Maj (Rtd) Mansur Ahmed, SVP Sarfraz Ahmed Butt and VP
Syed Ehtisham Gillani during this prestigious ceremony largely attended by the Sialkot’s leading business and Rinancial tycoons here today. Deputy Group Leader Dr. Muhammad Aslam Dar, former SCCI Presidents, SVPs, VPs and the heads of Sialkot’s all the main trade bodies also attended this ceremony. It remained the mega event of
Sialkot today. A large number of the exporters and leading Rinancial and business tycoons attended it and showed keen interest, in this regard. Addressing the participants, newly elected SCCI Maj (Rtd) Mansur Ahmed said that the exporters of Sialkot are the “Roaming Ambassadors of Pakistan”, who travel all around the world to fetch
LCCI newly elected members pledge to work for economic revival
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LAHORE
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he newly elected Lahore Chamber of Commerce and Industry (LCCI) President Sheikh Muhammad Arshad, Senior Vice President Almas Haider and Vice President Nasir Saeed have spelt out their priorities for the coming year and pledged to work for economic revival of the country. The LCCI new chiefs also deRined their priorities while addressing at the Annual General Meeting (AGM) of the LCCI on Tuesday. The meeting was presided over by the member of Election Commission Haroon ShaRiq Chaudhry and also attended by outgoing President Ijaz A. Mumtaz, Sen-
ior Vice President Mian Nauman Kabir, Vice President Syed Mahmood Ghaznavi, former Presidents Mian Muhammad Ashraf, Mian Anjum Nisar, Salahuddin Ahmed Sahaf, Sheikh Muhammad Asif, Farooq Iftikhar, Mian Shafqat Ali, former Vice Presidents Aftab Ahmed Vohra, Mubasher Sheikh and Executive Committee Members. The newly elected President Sheikh Muhammad Arshad said that he would concentrate on promotion of R&D culture besides focusing on severe energy crisis, highest in the world banking spread, withholding tax on bank transactions, law and order situation, economy, environmentrelated regulations and Pakistan’s external trade. He said that leading economists, technocrats, business-
men, bankers and former presidents of the Lahore Chamber of Commerce and Industry that would consulted on regular basis to guide the government as to how the economic revival could be achieved in shortest possible time. Sheikh Muhammad Arshad said that the LCCI would not accept any policy framed without proper consultation of chambers of commerce in the country. Newly elected Senior Vice President Almas Haider said that simpliRication of tax system would be on his priority list. He said that the main objective of the Lahore Chamber of Commerce and Industry was promotion of trade and industry and all available resources would be utilized for economic turnaround.
business and with their personal efforts, the export earnings of Sialkot stand at US $ 1.8 billion annually. He said that the Sialkot exporters had been earning precious foreign exchange to the tune of US $ 1.8 billion annual , besides, playing a pivotal role in strengthening the national economy and boosting the national exports as well. While, delivering his speech, the SCCI outgoing President Fazal Jillani gave a detailed brieRing on Sialkot’s unique export culture and Sialkot’s marvelous socio-economic development on self help basis by Sialkot business community. He said that export-oriented Sialkot city has successfully followed the examples of Japan, Germany, Korea, Taiwan and other countries in development of SME culture in Sialkot, as the Sialkot based SMEs have been producing only exportable items and enjoy special status in the international market for its products. Government and other Rinancial institutions are lending support to the export sector and we are foreseeing growth of exports and development of SMEs at a fast pace in Sialkot.
New office-bearers, executive members of ICCI take oath he newly elected office bearers and executive members of Islamabad Chamber of Commerce and Industry (ICCI) have taken oath in the 31st Annual General Meeting of ICCI. Abdul Rauf Alam, Chairman, Founder Group administered oath to Atif Ikram as President, Sheikh Pervez Ahmed, Senior Vice President and Sheikh Abdul Waheed, Vice President as well as the new Executive Members. Speaking at the occasion, Atif Ikram, new President of ICCI thanked the Founder Group and ICCI members for electing him unopposed and unfolded his plan to serve the cause of business community.
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Swiss economy shows surprising growth of 1.2% in Q2 Friday October 2, 2015
World
BERN: Domestic spending kept Switzerland’s economy expanding in the second quarter as government figures released on Friday showed a surprise upturn in growth. The country’s gross domestic product expanded 1.2 percent in real terms from the same period a year earlier and by 0.2 percent from the first quarter, the State Secretariat for Economic Affairs (Seco) said in a report. Household spending and expenditures by non-profit institutions serving households rose 0.3 percent from the previous quarter, Seco said. General government spending also rose by 0.2 percent, the report said. Exports of goods rose slightly while imports declined boosting the country’s balance of trade in goods, Seco said.
uS customs seizes $230k in unreported currency in hidalgo
Hudson named Canada’s Fair Trade Town of the Year
HIDALGO
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S Customs and Border Protection, OfRice of Field Operations (OFO) at the Hidalgo International Bridge intercepted $230,753 in unreported U.S. currency that was allegedly bound for Mexico without being properly declared. “CBP Field Operations enforces both incoming and outbound laws and regulations, which includes the proper reporting of currency, be it from the United States or from any other country,” said Acting Port Director Javier Cantu, Hidalgo/Pharr/Anzalduas Port of Entry Bills totaling $230,753 in unreported currency seized by CBP ofRicers at Hidalgo/Pharr/Anzalduas/Port of EntryOn Sept. 28, CBP ofRicers assigned to the Hidalgo International Bridge, working outbound operations selected a blue 2006 Honda Pilot for inspection. The 26-year-old female United States citizen from Pharr, Texas and the vehicle were referred for further
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secondary examination and it was during the course of the inspection that ofRicers discovered bundles of U.S. currency hidden within a dufRle bag in the rear of the SUV. CBP OFO removed 24 bundles of unreported U.S. currency totaling $230,753, which was seized along with the vehicle. CBP OFO arrested the woman and then released her to the custody of Homeland Security Investigations (HSI) agents for further investigation. It is not a crime to carry more
than $10,000, but it is a federal offense not to declare currency or monetary instruments totaling $10,000 or more to a CBP ofRicer upon entry or exit from the U.S. or to conceal it with intent to evade reporting requirements. Failure to declare may result in seizure of the currency and/or arrest. An individual may petition for the return of currency seized by CBP ofRicers, but the petitioner must prove that the source and intended use of the currency was legitimate.
Irish Customs seizes 1,000 smuggled pills ver 1,000 pills were seized last year at customs, a Rigure that represents double the amount seized the two years previous. This fact is very much in contradiction with the myth of the anti-choice side that there is no demand for abortion in Ireland. Despite the fact that abortion is illegal in Ireland and having an abortion, or even helping someone
have one, is punishable by up to 14 years in jail it is a well known fact that abortions still occur. The safest way to have an illegal abortion is through the use of pills which should be taken before 9 weeks gestation. For those in need of an abortion but without the money to travel to England for the procedure organisations that send the
Early Medical Abortion pill over are invaluable. While governments both sides of the border continue to neglect the voices of people in Ireland who Rind themselves in a crisis pregnancy organisations such as Women Help Women (www.womenhelp.org) and Women On Web (www.womenonweb.org) are there to help.
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TORONTO
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udson has been named Canada’s Fair Trade Town of the Year, only the 21st community in Canada to receive the designation, the seventh in Quebec. The town received the national recognition at an awards ceremony organized by the Canadian Fair Trade Network in Toronto earlier this month. Hudson shared the top award with Brandon, Manitoba. Other Quebec towns and cities that have been recognized for their commitment to fair trade are Neuville, Hochelaga-Maisonneuve, Ste-Anne-de-Bellevue, Trois-Rivières, Sherbrooke and WakeRield/La Pêche. “It only happened because the whole town was behind it,” said Robert McKinnon, the chairman of a six-member ad hoc citizen group that got the ball rolling by reaching out to local businesses, churches, schools and community groups. “The whole community has
worked for the past year,” he said. “Everyone should be proud.” The majority of the Canadian cities that have been awarded the fair-trade designation, including Toronto two years ago, are considerably larger than Hudson, he said. “We are a town of only 5,000.” However, he said, small towns can make a big difference if everyone gets behind equitable commerce –paying a fair price to artisans, tradesmen and other producers in the developing world so as to help improve their economic circumstances. In Hudson, fair-trade coffee and tea is now sold at the local IGA, while fair-trade wine from Argentina and South Africa is available at the local SAQ. Que de bonnes choses, a Hudson health food store, sells fair-trade certiRied sugar, chocolate and coffee –and soon avocados from farmers in Mexico. At Pure Art, another shop, you can Rind fair-trade textiles, crafts and other wares made by artisans in Tanzania, Afghanistan.
Sri Lanka customs nabs couple with counterfeit cigarettes
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wo people were arrested at the Katunayake airport with 44,140 sticks of ‘Top Mountain’ brand counterfeit cigarettes. The customs department said that the two Sri Lankans, a male and female, are residents of Colombo 12 and were arrested on their arrival from Sharjah. The counterfeit cigarettes were valued at Rs. 441, 400.00 and had been concealed in their baggage. Following investigations, the two Sri Lankans were imposed a penalty of Rs. 50,000.00 each.
Meanwhile, Sri Lanka Custom’s Single Window System is to be implemented by the end of this year, Finance Ministry said in a statement. Single window operation will do away the system of overlapping that will otherwise require submitting and processing the same information on numerous occasions to different entities. Importers and exporters can use electronic funds transfer or online payments to pay Customs duties and levies associated with the clearance formalities of goods declared for import or export of cargo.
uAe customs to play pivotal role in customs Summit
T DUBAI
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he UAE Federal Customs Authority has announced that it will be presenting its vision on advancing global trade to leaders of Customs Authorities and prominent heads of industry attending the Global Customs and Trade Facilita-
tion Summit. The event will focus on innovations and solutions to reduce trade barriers and boost international competitiveness and forms part of Global Trade Development Week (GTDW), being held in Dubai from 27th to 29th October. Organised under the patronage of the UAE Ministry of Economy, GTDW is a major trade forum and
exhibition, and will be an unprecedented gathering of 1000 trade leaders from over 100 nations. The Federal Customs Authority (FCA) is a strategic partner of GTDW and H.E. Khalid Ali Al Bustani, Acting Director-General of FCA, will deliver the opening keynote speech at the Customs Summit. H.E. Al Bustani says, “GTDW presents the perfect platform to present our views
how customs work is a key catalyst for promoting global trade environment. GTDW’s high-caliber programme, focusing on global economic trends and risks, ties in with our core objective to promote the advancement of global trade and additionally helps our efforts to boost collaboration with customs authorities around the globe.” The Customs summit will bring
together a host of prominent leaders of international organizations, including WTO, Interpol, UN and World Bank. The list of speakers comprises of representatives’ form the world’s largest corporations, such as GM, Huawei, Hitachi and Nestle, and shall be attended by dignitary delegations from industrial and emerging markets and economies.
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Turkish police seize counterfeit currency ISTANBUL: Turkish police seized thousands of counterfeit money in an Istanbul-based operation before they were delivered to Germany. Istanbul financial crimes police units stopped a foreign license-plated BMW upon a notice that large amounts of counterfeit money issued in Turkey would be transferred abroad. During the search of the car, police seized a total of 181,200 dollars, 14,000 euros and 5,800 liras, all counterfeit, along with a gun, four credit cards, a driver’s license and three fake Syria passports that were to be delivered to Germany. Meanwhile, two suspects inside the car, identified as O.K. and M.K., were detained over accusations of producing counterfeit money and forgery of official documents. The suspects were due to be taken to court following the interrogation.
LcD tV shipment declines to influence panel maker shipments TAIWAN
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s LCD TV shipments are expected to be lower than originally estimated for 2015, panel makers are also lowering shipments, which include adjustments for the second half of 2015. AU Optronics (AUO) is one panel maker that has lowered its forecast for overall panel surface growth in 2015 from 6-8% on-year growth to 46%. Other Taiwan panel makers have also either lowered their LCD TV panel forecasts for the rest of 2015 or expect to see only slight growth. Most industry observers attribute such adjustments to weakening LCD TV and notebook demand coupled with uncertainties in the global economy. Market reports from IHS recently stated that LCD TV shipments dropped 8% on year in the second quarter of 2015 to around 48 million, which also represented the largest quarterly decline since the second quarter of 2009. LCD TVs account for 99% of the TV market and CRT along with plasma units have exited most markets.
Ports & Shipping
port tampa Bay to participate in cold treatment programme for imported produce
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Russia export increases 31% in 2013-14 ummirizing the results of the 2014/15 season, the Russian Federation has exported 324 KMT of oilseed flax, which is 31% higher than in the 2013/14 season (247 KMT). Export growth stems from a 21% increase in gross yield, importers being interested in the crop, favorable prices and the attraction of receiving foreign currency revenue amid the instability of the ruble. The key markets for Russian flax in the 2014/15 season became the EU (70% of total exports) and Turkey (19%).
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NEW YORK
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ort Tampa Bay has been approved to begin participating in the cold treatment program the U.S. Department of Agriculture to handle imports of select types of refrigerated produce from South America effective October 1. Imports of grapes, blueberries, apples, pears and citrus from Peru, Uruguay and Argentina were historically restricted to entry via
northeastern U.S. ports and then trucked to the markets in the southeast, including Florida. A pilot program allowing cold treated produce to enter via ports in South Florida which began in 2013 will now be expanded to also include Port Tampa Bay. “Our participation in this program dovetails nicely with our plans to develop new on-dock cold storage capacity and the new post-Panamax container cranes to be delivered early next year”, noted Raul Alfonso Executive Vice President and Chief Commercial OfRicer for Port Tampa Bay. “We look forward to providing
our customers, both here in Florida and beyond, with new, more efRicient supply chain solutions for their perishable products.” In August, the Port Tampa Bay Board of Commissioners unanimously approved a new lease with Port Logistics Tampa Bay to develop a new 130,000 square foot state-ofthe-art on-dock cold storage facility to handle refrigerated imports and exports. Port Tampa Bay is Florida’s largest port supporting 80,000 jobs and generating $15 billion in annual economic impact. The port handles a bulk, break bulk, containers, and roll-on/roll-off cargoes.
Friday October 2, 2015
portMiami now able to berth post-panamax ships MIAMI
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ore than $1 billion of capital infrastructure projects are now complete, the port announced, and have transformed PortMiami to a major U.S. global gateway. They also make PortMiami the only major logistics hub south of Virginia capable of handling fully laden postpanamax vessels. PortMiami now offers super postpanamax gantry cranes that can service cargo vessels up to 22 containers wide and up to nine containers above deck and eleven containers below. Ondock intermodal rail service in partnership with Florida East Coast Railway (FECR) today links PortMiami to 70 percent of the U.S. population in four days or less. A new fast access tunnel connects the port directly to interstate highways providing rapid turnaround time for the movement of import and export goods. “A new big ship era is here and PortMiami is ready,” said PortMiami Director and CEO Juan M. Kuryla. “I am proud to say that PortMiami is now able to berth post-panamax ships; and we are able to expedite the movement of goods throughout Florida, the continental U.S., and the world, fast and efficiently. We are grateful to the vision of our State and local leaders for making this critical infrastructure project a reality.
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Malaysian ports ready for alliance with china
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SEGAMAT
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orts in Malaysia are ready to form an alliance with ports in China as part of efforts to enhance trade between the two countries, said Transport Minister Datuk Seri Liow Tiong Lai. The alliance could also support China’s 21st Century Maritime Silk Road initiative to expand trade in
the region, he said. “Malaysia has many international ports, including Port Klang, Port of Tanjung Pelepas, Bintulu Port and Kuantan Port, which we can form into an alliance with ports in China. “This could raise our competitiveness, enhance our container processing, expedite all processes with less bureaucracy, and help each other with the concept (of the alliance),” he said at a press confer-
ence here today. Liow, who is also MCA President, made the remarks after opening the Johor MCA convention attended by Minister in the Prime Minister’s Department-cum-MCA Deputy President Datuk Seri Dr Wee Ka Siong. “We invite other ASEAN countries to join us in exploring this vast market and trade, one day I hope there could be a port alliance between ASEAN and China,” Liow said. China has given a lot of support
to Malaysia in developing the latter’s ports, he said, citing Kuantan Port, in which Chinese investors hold a 40% stake, and Melaka, where the republic is supporting the state’s efforts to develop the Melaka Gateway tourism project. “The memorandum of understanding signed between Melaka and China’s Guangdong province also shows China’s commitment to raising bilateral trade between the two countries,” he added
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Ireland Revenue officers seize more than 40,000 cigarettes DUBLIN: Revenue officers have seized more than 40,000 cigarettes with a retail value of €20,000 at Dublin Airport. The ‘Kent’, ‘Marlboro Gold’ and ‘Winston’ cigarettes were discovered in the baggage of four Lithuanian nationals, two women aged 36 and 64 and two men aged 41 and 63, who had arrived on a flight from Copenhagen yesterday. All four appeared before Judge Hugh O’Donnell in the Criminal Courts of Justice charged with the illegal importation of cigarettes. They have been remanded in custody to appear in court again on Friday.
Friday, October 2, 2015
CUSTOMS BULLETIN
customs court asks jail officials whether alleged smuggler is juvenile KARACHI
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he Special Court of Customs Taxation and AntiSmuggling has sought a report from Karachi Central Jail’s superintendent on whether a suspect, who is behind bars for his involvement in the sale of smuggled Iranian petrol and diesel, is a minor. Judge Syed Faiz Rasool Rashdi was hearing the bail application of Ahsan, who sought his release on the ground that he is juvenile. According to the officials of Pakistan Customs Directorate of Intelligence and Investigation, on August 11 the paramilitary troops seized three oil tankers containing 25,000 liters of diesel and 20,000 liters of petrol of Iranian origin from the city’s Northern Bypass. Six alleged smugglers including drivers of the vehicles and their helpers were taken into custody. Later, the Rangers had handed over the alleged smugglers and seized smuggled oil tankers and POL products to Directorate of Intelligence and Investigation. Subsequently, it registered an FIR against them.
Faisalabad Customs Intelligence impounds smuggled vehicle worth Rs 2m FAISALABAD
NAeeM SheIkh
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he Customs Investigation and Intelligence has impounded a nonduty paid trailer worth Rs 2 million involving duty/taxes amounting to Rs 798,486 here in Sargodha. The team, acting upon information received through the Additional Director Azmat
Tahira, conducted a raid to impound the smuggled vehicle in the region. The team intercepted a truck bearing Registration No. K-004 on Sargodha road and asked the driver Fazal Muhammad to produce the documents showing the legal import of the vehicle but he remained failed. Therefore, Customs Intelligence impounded the vehicle under Section 178 of Customs Act 1969. Customs Intelligence team comprising Deputy Director Riaz Hussain Senor Intelligence
Officer Muhammad Tahir Iqbal, M Mansoor Nasir, Intelligence officer Farzand Ali and others participated in the raid. Meanwhile, The field office of Khushab Custom’s intelligence and Investigation has seized different smuggled goods . The total weight of seized smuggled items is 34,594 kgs while the goods were loaded on s non- duty paid trailer. The seized items include 22,860 kgs glassware, 240 kgs plastic dust bin, 1200 kgs kitchen set fruit basket, 3400 kgs small fruit basket,
600 kgs plastic handle basket ( landri), 120 kgs plastic jugs and 3,235 kgs freezer pack boxes. Sources told Customs Today that Additional Director Customs Khushab Azmat Tahira received a credible information regarding the smuggling of the said items. After receiving information she formed a raiding team comprising Malik Javeed (SIO ), Ch Muhammad Saeed, Muhammad Saleem, (IO), havadar Sajjad Ahmed and Muhammad Tariq, Muhammad Ashrif Qureshi, Muhammad
Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi
Shahbaz (Sepoys). The Customs team intercepted a vehicle bearing registration number TLQ-448 near Sargodha by-pass and asked the owner of the goods, who was identified as Muhammad Khalid son of Muhammad Siddiq, a resident of Dowhota Colony Muhammad Ali Road Lahore, to produce documents regarding possession of the goods but he failed to produce the documents. After which, the Customs team seized the goods and vehicle and registered a case against the suspect.