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Karachi, Fri September 15, 2017
ISLAMABAD
M FAIZAN
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ederal Board of Revenue (FBR) on Wednesday started an extensive drive to boost the filing of Income Tax returns by reaching out to public and private sector organisations and companies. FBR is facilitating organisations’ employees with taxable income to file their tax returns. A team of FBR’s Facil-
itation and Taxpayers Education (FATE) Wing led by Member FATE, FBR, Nausheen Javaid Amjad and assisted by Chief FATE Tehmina Aamer visited the ofVices of large organisations headquartered in Islamabad and sought their help and support in motivating their employees to Vile their tax returns. FBR has compiled a list of over 50 large corporations, Vinancial institutions and companies to be approached by FBR within the next few days to explain to them how a majority of their employees with taxable in-
Vol 2, Issue No. 205
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come are failing to fulVill a national obligation by not Viling their Income Tax returns. As part of this initiative, FBR’s team led by Member FATE met the Managing Director of Oil and Gas Development Company Limited (OGDCL) and presidents of Zarai Taraqiati Bank Limited (ZTBL) and Askari Bank Limited to apprise them of a keen desire within FBR to work with these organisations to provide them with all possible assistance and facilitation to convert their non-Viling employees into Vilers.
Collector Ihsan orders M/s Charisma Catering to pay evaded duty, taxes
Surriya to revise Valuation Rulings No: 727/2015
FTO adjourns hearing of case filed by M/s Colony Mills
Ishaq Dar asks FBR to achieve overall set targets
Customs Adjudication concludes 22 seizure cases of Rs 32.5 million
Collector Customs Adjudication Shah has passed Order in Original No. 124 of 2017 | See pAge 02 |
DG Valuation has decided to revise the Valuation Rulings No: 727/2015 | See pAge 03 |
FTO has postponed the hearing of a case filed by M/s Colony Mills Limited | See pAge 04 |
DaroncalleduponofficialsoftheFBRtoput in their best to achieve the overall targets | See pAge 11 |
Customs Adjudication has concluded the hearing of 22 seizure cases | See pAge 16 |
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ATIR adjourns hearing of case filed by Pak Telecom Mobile Ltd Friday, September 15, 2017
Islamabad
ISLAMABAD: Appellate Tribunal Inland Revenue (ATIR) Account Member Dr Ghulam Mujtaba Bhatti dated in office hearing of a tax matter filed by M/s Pak Telecom Mobile Limited. The bench received replies from parties and then adjourned hearing. Earlier, the bench had issued notices in the case. The appellant had contested show cause notices issued by the field offices of Federal Board of Revenue (FBR).
collector Ihsan orders M/s charisma catering to pay evaded duty, taxes
ISLAMABAD
ISLAMABAD
cuStoMS BuLLetIN report
M FAIZAN
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he Anti-Smuggling Organization (ASO) Islamabad impounded smuggling goods, offending (Vehicles used for smuggling) and Non-Duty-Paid (NDP) vehicles worth Rs6.23million during 25th to 31st of August Financial Year (FY) 2017-18. According to details explained by Ansir Anies, Deputy Collector Preventive (ASO) that, during above said period, the ASO seized 01 offending vehicle valued at Rs1.5million while it took into possession 870 kilogram of foreign origin smuggling fabrics worth Rs0.409million. She told CT that, during said period, the ASO confiscated 1,708 kg of food grain priced at Rs0.375million whereas it seized 125 kg of tea valued at Rs0.026million. The ASO Islamabad also confiscated 40 types of tyres and tubes priced at Rs0.175million. Deputy Collector said that, during 25 to 31st of August FY17-18, the ASO took into possession 1,179 numbers of miscellaneous spare-parts worth Rs0.242million and 939 liters of Mobil oil valued at Rs0.118million. The ASO also confiscated 200 fake packs of different cigarette-packets priced at Rs0.147million.
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ollector Customs Adjudication Ihsan Ali Shah has passed Order in Original No. 124 of 2017 in contravention report no.56, reported by Customs Intelligence and Investigation, ordering M/s Charisma Catering, G-11 Markaz, Islamabad, to pay the evaded duty and taxes of Rs 39.405 million for allegedly availing concessions in violation of SRO 1125 (1) 2011. A penalty of Rs 2 million was also imposed on the company. According to details, M/s Charisma imported polyester and viscose fabric of assorted colors from China at Islamabad Dry Port and evaded duty and taxes by claiming undue beneVit of SRO 1125(1)2011. It was revealed during investigation that the name of the importer was not on the Active Taxpayers List (ATL). The Regional Tax OfVice was conVirmed that that the importer is non-active and suspended on 25.05 2015. This fact dis-entitled M/s Charisma Catering from sales tax exemption in terms of SRO 1125(1). Collector Adjudication has said in ONO that, despite issuance of show cause notices and several opportunities of personal hearing M/s Charisma have not come forward to defend the charges leveled in the show cause notice. This establishes
ASo takes into possession contraband items & vehicles
the fact that the importer is not interested to defend the charges leveled against him as they nothing to offer in defense. The perusal of the case documents shows that the importer M/s Charisma Catering were not on the
active tax payer list during the period they claimed beneVit of concession Rs29.405 million on 13 GDs under SRO 1125 (1), whereas it was mandatory condition of said SRO that the claimant was required to be on the ATL. Thus from the said
report it is prima facie borne out that the main condition of entitlement was not fulVilled by the importer but they still claimed the beneVit of SRO in violation of the SRO 1125(1) 2011. The charges leveled against importer are established.
FBr grants exemption to It companies registered after June 2012
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ISLAMABAD
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ederal Board of Revenue (FBR) has said that IT companies registered in July 2012 onwards can avail exemption under deVinition of start-ups. In Income Tax Circular No. 04 of 2017, the FBR said that the concept of start – ups has been introduced under Section 2(62A) in order to promote and encourage innovation
and entrepreneurship in Pakistan, particularly in the Vield of Information Technology. A start-up has been deVined as a business set-up by a resident individual, AOP or a company having turnover up to Rs100 million in the last Vive tax years, registered and certiVied by the Pakistan Software Export Board (PSEB) as an information technology entity engaged in offering technology driven products or services to any sector of the economy. For incentivizing start-ups, exemption has
been accorded to proVits earned by such entities in the tax year in which the entity is certiVied by PSEB and the
subsequent two tax years. “Existing undertakings engaged in similar businesses incorporated or registered on
or after July 1, 2012 are also entitled to this exemption subject to certiVication by PSEB,” the FBR said. Furthermore, the Federal Government has also been empowered, through the Finance Act, 2017 to notify any business as a “start-up” subject to speciVic conditions. Moreover, exemption has also been accorded to such “Start-ups” from levy of minimum tax under section 113 of the Ordinance as well as deduction of withholding tax upon receipt of payments speciVied in section 153 of the Ordinance.
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SHC adjourns hearing of dozens of SCRAs, appeals in tax cases KARACHI: The Sindh High Court’s division benches have adjourned hearings of dozens of Special Customs Reference Applications and other cases pertaining to dispute of custom duty, income tax were. Dozens of SCRA’s were fixed before the appellate bench for Customs including SCRA 67/2011 filed by Gentech Engineering versus Model Customs Collectorate, Karachi involving an issue of classification of goods. The hearing was deferred till Oct 8. Similarly hearing in dozens of cases pertaining to income tax and other taxes were adjourned to unspecified dates as attendance of lawyers was thin at Sindh High Court .
customs preventive by generates rs10225m
Friday September 15, 2017
Karachi
Surriya to revise Valuation rulings No: 727/2015
KARACHI
cuStoMS BuLLetIN report www.customsbulletin.com
he Collectorate of Customs Preventive has shown an outstanding performance during the previous month of August. The Collectorate of Customs Preventive has collected Rs10225million of Customs Duty, Sales Tax, Income Tax and Federal Excise Duty (FED) during the month of August 2017. Official sources told CT reporter that Customs Preventive generated Rs2835million as Customs Duty, Rs5531million of Sales Tax, Rs1284.32million as Income Tax and Rs389.63million of Federal Excise Duty (FED). Sources further told CT that Collector Customs Preventive Iftikhar Ahmad has lauded the performance of the officials.
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M/s oceanic enterprises seeks exemption of duty KARACHI
M B rANA
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he Sindh High Court (SHC) has issued notices to the customs authorities and deputy attorney general on a constitutional petition filed by M/s Oceanic Enterprises, seeking exemption of duty and taxes on consignments of LED down light, LED flat lights, LED strip light etc as entitled under 5th Schedule of the Customs Act 1969. During the hearing of the petition, a two-member bench, headed by Justice Munib Akhtar, directed customs officials to file their comments on the next date of hearing. Earlier, counsel for the petitioner stated that petitioner imported consignment of above mentioned goods and filed goods declaration under availing exemption as entitled under 5th Schedule of the Customs Act, 1969.
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KARACHI
wAQAr AhMeD ANSArI www.customsbulletin.com
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irector General, Customs Valuation, Surriya Ahmed Butt has decided to revise the Valuation Rulings No: 727/2015. Surriya Butt has said the department is reviewing the suggestions from importers to set new prices. She further said some valuations, which were issued in 2015, were being viewed from the beginning. Moreover, the valuations will be set in view of the rising prices in the international markets. Sources told Customs Today that an application was submitted by the importers to Customs Valuation in which change in prices of self-adhesive (Transparent) BOPP /OPP Tape and self-adhesive tape scotch brand was requested. Sources said the Valuation Ruling No: 727/2015 self-adhesive (Transparent) BOPP /OPP Tape and self-adhesive tape scotch brand issued on April 20, 2015. A meeting was held with the stakeholders on 31st of August 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained. Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has said importers sub-
mitted applications for the change of the prices so that our department learn and decide the values. Meanwhile, The Directorate General of Customs Valuation has revised the customs value of non-carbon releasing paper, art card/coated board/paper and light weight coated papers Valuation Ruling No 1205/2017 under Section 25A of the Customs Act, 1969. According to the details, the customs values of non-carbon releas-
Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained
customs confiscates goods valued at rs28.2m
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KARACHI
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irectorate of Customs Intelligence and Investigations Quetta expedited its efforts to prevent the smugglings. The collectorate seized smuggling items worth Rs28.2million in the last month of August. The items confiscated include Iranian diesel, Iranian juices, large number of non-duty-paid mobile
phones, electronic goods, fake number-plates, and other different things. Sources told reporter that Deputy Collector Customs Preventive Junaid Mehmood received a tip-off that some smugglers are trying to smuggle the white and black plastic powder from Afghanistan into Quetta via main Quetta Highway. He immediately constituted a raiding team. The team enhanced the vigilance in the area of High-
way and started searching operation of vehicles. After some time, the team intercepted a truck with registration No: LBA-348. During the checking, custom officers recovered 100 big shoppers of white and black plastic powder in the truck. The team took into possession all the shoppers of the plastic powder. The market value of the seized items is Rs2million. Sources said two persons, including truck driver, have been apprehended.
ing papers, art card/coated board/paper and light weight coated papers were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.826/2016 dated 06-04-2016. A representation was submitted by All Pakistan Paper Merchants Association, Karachi with the request that the existing valuation ruling needs revision as the current prices have increased in the international market.
Shipping activity at port Qasim .V Friendly Sea carrying 52,578 tonnes Coal was allotted berth at Port Qasim Electric Power Terminal on Wednesday Meanwhile four more ships M.V Core Fortune, M.V Thor Friendship, M.T PVT Athena and M.T King Craft with Coal, Steel coil, Furnace oil and LPG also arrived at the outer anchorage of Port Qasim.
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LHC suspends notification regarding tax collection from flour mills Friday September 15, 2017
Lahore
LAHORE: The Lahore High Court (LHC) has suspended the notification issued by the Punjab government regarding extra tax collection from the flour mills. Owners of various flours mills challenged extra tax collection before LHC. According to the details, Justice Shahid Jameel Khan of Lahore High Court (LHC) heard the case in which the counsel for the appellant argued before the court that provincial government has increased 100 percent levy on the flour mills and put burdan of extra tax on the flour mills owners. They pleaded that flour mills already paying tax liability. Counsel also prayed the court to suspend the extra sales tax collection from the Punjab government.
customs Adjudication serves show cause on M/s hamid Builders LAHORE
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ollector of Customs Adjudication Ambreen Ahmed Tarar has issued a show cause notice to the owner of non duty paid goods and issued notice to him to appear in person on 26.9.2017. According to the details, during scrutiny of import data it was revealed that M/s Hamid Builders (NTN 3818289) imported 15 consignments of potatoes from 26.6.2014 to 6.8.2014 and avoided to pay taxes and duties amounting to Rs31,30,472/- alongwith default surcharge (to be calculated at the time of deposit) may not be recovered and as to thy they may not be penalized according to law. After detecting the tax evasion
two human traffickers arrested
ederal Investigation Agency (FIA) Gujranwala/Gujrat on Tuesday conducted raids in different areas and arrested two human traffickers. According to the spokesman, FIA team arrested Azhar Iqbal of Jadokee, Gujrat and Anwar Gujjar of Kakra Bajwat, Sialkot. The accused were involved in human trafficking cases from the last three years. Further investigation is underway. Meanwhile, FIA Gujranwala on Thursday arrested four human smugglers from different areas during a crackdown. According to FIA spokesman, the accused were identified as Ijaz Bashir of Samberiyal, Malik Javed of Hashmi Colony Gujranwala, Imran of Faisalabad and Ihtisam. –CB Report
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Collector Ambreen Tarar issued a show cause notice to the above mentioned company asking to appear in person on the above said date and time at Custom House Nabha Road Lahore. Collector Adjudication also summoned the clearing agent namely N/s Irum Enterprises Ali Plaza Mozang Road, Lahore on the mentioned date and time. It is necessary to mention here that Collector Customs Adjudication expedited its efforts to conclude the hearing of pending cases on priority basis. After Eidul Azha holidays there is marginable decrease is being witnessed in hearing of cases in Customs Adjudication. Customs Adjudication also succeeded to recover evaded amount of taxes and duties from many companies in recent past. Collector Ambreen Tarar adopted a comprehensive strategy to cope with the pending cases.
Fto adjourns hearing of case filed by M/s colony Mills LAHORE
SAJID NAwAZ
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he Federal Tax Ombudsman (FTO) has postponed the hearing of a case Viled by M/s Colony Mills Limited, Multan against the Large Taxpayer Unit (LTU) until the next date of hearing. The same was heard last month and was put off for the next date. According to the details, FTO Consultant (I&M) Tariq Yousaf heard the case in which the counsel for the appellant argued that LTU had failed to satisfy the appellant in refund case. He added that LTU collected excessive tax from M/s Colony Limited during the last three years. He approached the ofVicer concerned many times but the LTU ofVicials did not pay the refunds after the passage of a reasonable time. At the end, the appellant decided
collector Ambreen Ahmad tarar summons owner of NDp goods
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ollectorate of Customs Adjudication Collector Ambreen Ahmed Tarar has summoned the owner of non duty paid goods on 25.9.2018 at Custom House Nabha Road Lahore. According to the details, M/s Rana Naveed & Company (NTN 3164890) imported 215 consignments of potatoes from 26.6.2014 to 6.8.2014. The importer had deliberately claimed the beneVits of SRO 549 (I)/2008 dated 11.6.2008 read with SRO 338 (I)/2014 dated 2.5.2014 was in fact rescinded vide SRO 573
(I)/2014 dated 26.6.2014 and the said goods were chargeable of sales tax @17 percent. Hence the importer was not entitled for exemption of sales tax which has further been clariVied vide Board’s classiVication vide letter dated 16.12.2016. Thus the importer with the connivance of clearing agent deliberately deprived the government of its legitimate revenue of Rs42,840,178/- (on account of sales tax Rs36,414,151/- and on account of additional sales tax Rs6,246,027/-. –CB Report
to approach the Federal Tax Ombudsman (FTO) seeking interference in this case. The counsel appealed the FTO advisor to direct the LTU to clear the refund claims. The counsel further said that the delay in issuance of refunds put burden on the taxpayers, adding that the LTU should make audit of the cases and release the extra amount
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collected by it from the taxpayer. He also said in the argument that appellant should submit all relevant record to the LTU. After hearing the arguments from both sides, FTO adjourned hearing the case until next date for further hearing and directed the parties to appear on said date to present arguments in the case.
pakistan to host Business opportunities Moot ederal Commerce Minister Pervaiz Malik held a meeting with United States ambassador to Pakistan David Hale here on Tuesday and discussed bilateral relations. The Commerce Minister said that Pakistan and US had cordial trade relations and that trade between Pakistan and US stood at US$ 6 billion during the last financial year 2016-17. He said that the trade relations between the two countries were governed by Trade and Investment Framework Agreement (TIFA) which was signed in 2003 and covered Pak-US GSP Pro-
gramme and Business Opportunities Conference (BOC). Business Opportunities Conference (BOC) was a government to government arrangement and Pakistan was preparing to host fifth BOC. Pervaiz Malik said Pakistan was also looking forward to further improve bilateral trade with Afghanistan and facilitate the transit trade. “Pakistan is looking forward to holding the 7th APTTCA meeting which was scheduled on September 10-11, 2017 but was unilaterally postponed by the Afghan side,” the minister added. –CB Report
FBr seeks details of employees from ptcL, pr, LeSco
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LAHORE
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ederal Board of Revenue (FBR) sought details of employees from the Pakistan Railways (PR), Lahore Electric Supply Company (LESCO) and Pakistan Telecommunication Company Limited (PTCL). According to the details,
Regional Tax OfVice of Federal Board of Revenue (FBR) has sent notice to the Pakistan Railways (PR), Lahore Electric Supply Company (LESCO) and Pakistan Telecommunication Company Limited (PTCL) in which FBR seeks the details of employees. The notices were issued to the heads of three government departments. FBR has issued notice to the Divisional Superintendent of Lahore
Waqar Ahmed Shahid and seeks the details of Employees. Similarly, FBR sent Notice to the Lahore Electric Supply Company (LESCO) Chief and seeks the details working in the Company and same notice is also sent to the Pakistan Telecommunication Company Limited (PTCL) for the working strength. It is pertaining to mentioned due to increase targets by the Government in the Financial Year 2017-18,
FBR has started action against the all tax defaulters in this regarding the data of employees of LESCO, PTCL and Railway is demanded by the FBR. Source told to Customs Today that after getting data of employees FBR will check the income status and examine the tax payment. In case of non payments FBR will take action and will recover taxes from those who did not Viling their returns while their income is taxable.
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Friday, September 15, 2017
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ollectorate of Customs Multan Range OfVice seized the contraband items of worth Rs20 million during raid in the posh area and also arrested two accused persons in their action. Sources told Customs Today that Collector Saud Imran Ahmad and Deputy Collector Saad Ata Rabbani received credible information that bulk quantity of contraband smuggled goods were hidden in private warehouse located in the Cantonment region. Collector Said formed special team on the basis of certain information which comprised of Superintendent Habibur Rehman, Inspector Rana Mujtaba Noon, Inspector Saleem Khan, Inspector Maqsood
and others to take action against smuggled goods. Customs anti-smuggling squad raided the Uppel Shaheed Road Multan Cantonment where they found huge quantities of smuggled goods which were dumped in the house located in the congested streets area in Cantt. Smugglers were used to supply these smuggled goods to different retailers of South Punjab especially in Multan. Multan Customs cordoned out the said streets during their antismuggling action to capture accuse and to avoid any retaliation from owners. Customs teams found foreign origin cigarettes, Pan Parag, Gutka, chewing tobaccos and other goods were lying in the gowdon. Customs teams arrested two accuse in their action that were identiVied as Muhammad Naeem and Arslan Khan during their action. It was revealed during the initial investigations of customs anti-smuggling team that these non-duties paid dumped goods were in the possession of alleged Ameer Khan Pan Shop cantt. Said is one of the main supplier of these non-customs paid goods to retailers in the city. The values of seized goods were almost Rs20 million. Customs teams shifted these goods in the Multan Customs House for further investigations. Multan Customs has also lodged FIR against them. Meanwhile, The Customs Col-
lectorate collected Rs8866.284 million in wake of duty and taxes during August of the Fiscal Year 2016-17. According to the details, the department collected Rs780.800 million under the head of customs duty against the assigned target of Rs431.320 million during the month of August. Multan Customs made collection of Rs422.950 million customs duties during said period of the last year 2016-17.The Customs Collectorate has posted 84% growth in the collection of Customs duty as compared to corresponding month of Viscal year 2016-17. It generated Rs1025.290 million as customs duty during Virst two months of the existing Vinancial year 2017-18. The Collectorate of Multan Customs collected Rs.2751.473 million in wake of sales tax in August against assigned target of Rs1181.600 million. Multan Customs has collected almost 83% excess revenue during the August. The Customs Collectorate has collected Rs.5217.019 million in terms of sales tax during the Virst two month of the economic year. According to the ofVicials, the revenue collection is directly linked with clearance of consignments from Multan Dry Port and it put positive impact on the revenue collection. In wake of federal excise duty, it collected Rs0.033 million against the assigned revenue of Rs15.92 million during August 201718 whereas collection of the federal excise duty (FED) stood at Rs15.585 million in the Virst two months of the economic year 2017-18.
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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 cooperation
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s SAARC has been rendered ineective due to state policy of India, Finance Minister Ishaq Dar has turned his attention toward Central Asia Regional Economic Cooperation to accelerate cooperation in various fields, including aviation, capital markets and capacity development. According to the minister, Pakistan wants to enhance cooperation with central Asian states in business, trade and investment. There is a need to lay down oil and gas pipelines, develop infrastructure, and establish electricity transmission networks to spur economic growth within the countries in the region. Pakistan is committed to cooperate in projects aimed at enhancing regional connectivity among various countries in the region. The China-Pakistan Economic Corridor is a milestone in regional connectivity, which will benefit not only Pakistan and China, but the entire region. The development of rail and road links will be right step in the right direction to enhance cooperation in the regional countries and achieve the cherished goals of economic development and prosperity of the people. There is a need to engage businessmen in the development projects and Pakistan oers cheap labour to foreign investors. The Central Asia Regional Economic Cooperation program involves 11 countries and six multilateral development partners for promotion and development of regional economies. One third of the world population lives in South Asia, China and central Asian states and all the countries need to enhance cooperation to accelerated economic growth and reduce poverty. However, India is stumbling block in every economic policy and activity and is not willing to activate South Asian Association of Regional Cooperation. Pakistan can allow transit trade facilities to India to market its products in central Asian states and China through land routes, but it is not willing to establish cordial relations with Islamabad. The hostile government in India is doing everything possible to bulldoze economy of Pakistan and isolate it in the comity of nations. However, the Central Asian forum has immense potential to promote regional cooperation and facilitate trade, business and economy within the countries in the region. The program, aided by the Asian Development Bank, has mobilised around $30 billion in transport, trade, and energy infrastructure investments since 2001.
pak-chinese cooperation P
LAHORE
Dr AFtAB AFZAL
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akistan China friendly relations are the best example of cooperation and diplomacy between the two countries which are not only different by culture, religion and ethnicity, but also by race. The two countries have been enjoying cordial relations for the last more than half a century and still heading towards closer cooperation in various Vields of the economy. The recent mega project of China-Pakistan Economic Corridor is a kind of international initiative and is appreciated by the world powers despite reservations. The regional countries like Iran,
Afghanistan and central Asian states as well as Russia are taking keen interest in the initiative and want to be part of it. However, when Pakistani and Chinese ofVicials sign an agreement, the both sides should review the situation on the ground and the pacts should not be signed in the way to harm the interest of any of the country. It should be a win-win situation for the two nations. Some circles in Islamabad are considering revisiting certain sections of the free trade agreement which can create doubts in the mind of any side. China is making huge investment in Pakistan and obviously would like to take lion share of the proVit. Meanwhile, over 150 top-level
Chinese machinery manufacturing companies are taking part in the China Mechanical and Electrical Machinery Expo 2017. According to Pakistan-China Joint Chamber of Commerce and Industry President Wang Zihai, the mega trade exhibition is a brainchild of the business community of the two countries and is being regarded as Gateway to E-commerce in the country. The exhibition is currently going on in the Lahore Expo Centre and hopefully will establish closure liaison between corporate sectors of the two countries. It is hoped the exhibition will attract Chinese investment in machinery manufacturing sector in Pakistan. The participating companies are
showcasing their products and are seeking investment partners in Pakistan to launch joint ventures in key economic sectors. It is also a good opportunity for the Pakistani entrepreneurs to get inspiration from Chinese investors and take knowhow about the latest technology. China has appeared as the manufacturing hub of the world and is trying to shift from light industry to heavy manufacturing sector. It will be a good option for the Pakistani officials and businessmen not only to establish joint ventures, but also persuade the Chinese entrepreneurs to shift their units in Pakistan where cheap and qualified labour is already available.
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FIA arrests 6 persons involved in corruption at toll plaza LAHORE: FIA Anti-Corruption Circle (ACC) Lahore on Wednesday raided at Harappa Toll Plaza and arrested six persons involved in corruption. According to FIA spokesman, the team also recovered computerised record, cellular data, tempered censors and embezzled amounts. It was informative from reliable source that contractors of National Highway Authority (NHA) regarding toll plazas are doing pilferage in daily collection of money. The modus was to identify the vehicle, in this way manual vehicle code were applied by the computer operators. Contractors maintain two types of record, one for NHA and one for himself. FIR is being registered in FIA Multan as per jurisdiction against the contractor and his relevant.
MoL starts ‘gravity Sruvey’ in NwA, produces rs 380b oil, gas from kpk
Friday September 15, 2017
National
court accepts challan against suspects involved in tax evasion
ISLAMABAD
cuStoMS BuLLetIN report www.customsbulletin.com
he MOL Pakistan has started ‘Gravity Survey’ to assess hydrocarbon deposits in Tal block of North Waziristan Agency (NWA) of Federally Administered Tribal Areas. “Besides it is planning to conduct drilling in the Biland Khel area under the same block,” official sources said. They said the company had produced around 735,048 mmscf natural gas, 30,305,796 stb crude oil, 223,340 mt LPG from its different operational fields of Khyber Pakhtunkhwa (KP) amounting to around Rs 380 billion during the past 11 years. The company has produced 511,087 mmscf (millions
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of standard cubic feet) gas, 22,337,261 stb (a barrel volume of a fluid at standard (stock tank conditions) crude/condensate and 161,430 mt (metric ton) Liquefied Petroleum Gas (LPG) from the Karak district of KPK from year 2005 to 2015, the sources added. From the Kohat district, it tapped 110,681 mmscf gas, 4,298,705 crude oil and 34,416 mt LPG, whereas the Hangu district’s production stood at 113,280 mmscf gas, 3,669,830 crude oil and 27,494 mt LPG during the same period. Replying to another question, they informed that the company sold around Rs 187.6 bln natural gas, Rs 179.6 crude oil and Rs 12.8 LPG from districts Karak, Kohat and Hangu.
KARACHI
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M B rANA
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ustoms Court Judge Syed Faiz Rasool Rashdi has accepted interim challan of suspects, Adnan Ashraf and Muhammad Junaid, who were booked in a case of smuggled/ non-duty paid contraband mobile phones, tablets, LED TVs, satellite dish receivers etc and evaded duty and taxes to the tune of Rs 53,548,797. During the hearing, the investigation ofVicer submitted charge sheet against the suspects and informed that ofVicials of the AntiSmuggling Organization intercepted Shahzore mini truck and Honda Vezel Pilot near open yard located at off Mai Kolachi Road Karachi and recovered 14,493 smuggled/ nonduty paid mobile phones worth Rs 144,930,000, at least 2,282 tablets worth Rs 13,692,000, around 76 LED TVs worth Rs 1,140,000, about 1,708 satellite dish receivers worth Rs 3,416,000, at least 81,600 paint markers worth Rs 816,000, around 970 mobile phones without LCDs worth Rs 1,940,000, at least 1,549
mobile accessories worth Rs 20,000, about 32,000 needles worth Rs 32,000, 77 TV boards worth Rs 77,000 and 9,600 DVD-R worth Rs 96,000, total worth Rs 166,159,000. He further informed the court that during the investigation, it transpired that bonded carrier, M/s Saifur Rahman & Brothers, was solely responsible for the transshipment of the consignment. He said that the
accused and others associates in crime adopted a novel modus operandi and smuggled foreign origin contraband goods under the garb of computer parts which were illegally removed from te container while en-route to Sambrial Dry Port for disposal in local market. Court also directed investigation officer to produce them on next date of hearing along with
progress report. Therefore, Directorate General Intelligence & Investigation-FBR Regional OfVice Karachi lodged First Information Report (FIR) against partners/ director/ proprietor of M/s Saifur Rahman & Brothers, Zeeshan Afzal of M/s K.K Metal Industries, Adnan son of Muhammad Ashraf and Muhammad Junaid son of Abdul Razzaq and others.
ASo foils bid to smuggle foreign origin liquor ISLAMABAD
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nti Smuggling Organization (ASO) of Collectorate of Custom Preventive along with Pakistan Maritime Security Agencies (PSMA) during a joint operation conducted at the boat have recovered huge quantity of foreign origin liquor as well as beer. According to the details, Anti Smuggling Organization (ASO) of Model Collectorate Custom Preventive received credible information that huge quantity foreign origin liquor is being smuggled through international sea route on which the ofVicers contacted the Pakistan Maritime Security Agencies (PSMA). The Source informed Customs Today, on the information given by the customs ofVicers Pakistan Mar-
itime Security Agency (PMSA) deployed its ships and Fast Response Boats at Western Maritime Region.
The team of the Pakistan Customs as well as PSMA on fast response boats chased suspicious boats near Pasni
area. The joint team of both the Federal Security Agencies exhibited immense valor and courage by intercepting the boat of the smugglers and force it to stop and other speed boat escaped with smugglers taking advantage of dark night. During boarding of second boat a large quantity of illegal high quality liquor was seized. A total of 21300 liquor bottles and beer cans having market value of approximate Rs3.5 crores were seized. Successful anti smuggling operation proved that Pakistan Maritime Security Agency (PMSA) and Pakistan Customs are fully active in their area of responsibility and are fully capable of stopping all kinds of illegal activities in their domain. Necessary legal cognizance is being taken by MCC Preventive in this regard whereas further investigation is underway.
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Three Superintendents-IR to retire soon Friday September 15, 2017
National haroon assumes charge as customs Secretary after promotion
ISLAMABAD: Three Inland Revenue Service officers of BS 16-17, presently posted as Superintendents, are going to retire from the government service in coming months on attaining the age of superannuation. Muhammad Amin (BS-17), posted at Regional Tax Office, Bahawalpur, will stand retired with effect from March 14, 2018). Muhammad Fahimuddin (BS-17), posted at Large Taxpayers Unit, Karachi, will retire from the government service with effect from November 4, 2017.
Assist commissioner-Ir Faisal granted performance allowance
ISLAMABAD
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aroon Waqar Malik, a Pakistan Customs Service officer, has assumed the charge as Secretary on his promotion to BS-19. The officer took the charge of the said post at Federal Board of Revenue (HQ), Islamabad on September 5 after his promotion vide Board’s Notification No. 2204-C-II/2017 dated 17.08.2017 and No. 2242-CI/2017 dated 18.08.2017. Meanwhile, Muhammad Nasir Khan Ghouri, a BS-20 officer of Inland Revenue Service, has assumed the charge as Director, Directorate General of Training & Research (Inland Revenue), Lahore. The officer, in pursuance of Board’s Notification No. 2420-IRI/2017, dated 30.08.2017, relinquished the charge of the post of Director, Directorate of Law, Lahore with effect from August 31.
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Four customs Superintendents retiring soon our Customs Superintendents (BS 16-17) are going to retire from the government service in coming months on attaining the age of superannuation. Rafique Ahmed Bhatti (BS-17), posted at Model Customs Collectorate (Preventive), Lahore, will stand retired on October 3, 2017. Safdar Ali Ijaz Bajwa (BS-16), posted at Model Customs Collectorate of Preventive, Lahore, will stand retired with effect from October 31, 2017. Safdar Ali Ijaz Bajwa (BS-16), posted at Model Customs Collectorate of Preventive, Lahore, is retiring on October 31, 2017. Muhammad Alam Khan (BS16), presently posted at Model Customs Collectorate, Multan, will stand retired from the government service with effect from Aug 11, 2018. –CB Report
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yed Shah Faisal, an Inland Revenue Service ofVicer of BS-17, selected through the process of internal job posting (IJP), has been granted performance allowance. The ofVicer, presently posted as Assistant Commissioner-IR at Regional Tax OfVice, Sukkur, was granted performance allowance with effect from August 31, 2017. The grant of performance allowance will be governed through the terms and conditions laid down vide Circular No. 6(96)S(BIC)/2013-14 dated 06.03.2015 and will be discontinued in case prescribed terms and conditions are not fulVilled within one month from the date of issuance of this notiVication.
peshawar Bwh receives rs481.36m of all duties and taxes from July to August T
PESHAWAR
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he Bonded Ware House (BWH) Peshawar collected Rs481.36million of all duties and taxes from July to August Financial Year (FY) 2017-18. According to details given by sources of the MCC Peshawar that, during above said period, the BWH generated Rs170.17million of Customs Duty (CD) while it did revenue of Rs0.29million of With Holding Tax (WHT) and surcharge whereas the BWH earned Rs3.07million of Redemption Duty (RD) on Imports. The sources told CT that, during July to August FY2017-18, the BWH collected Rs17.36million of Sales Tax (ST) while it did Rs248.10million of ST on Palm Oil whereas it received Rs23.92million of Additional Income Tax. The
sources further told CT that, during initial two months of current
Financial Year (1st July to 31 August) FY17-18, the BWH Peshawar
received Rs18.45million of Federal Excise Duty (FED) on Imports.
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Peshawar BWH collects Rs481m as all duties and taxes in last two months PESHAWAR: The Customs Bonded Ware House of Model Customs Collectorate Peshawar earned as revenue worth Rs481million of All Duties and Taxes during the first two months (1st July to 31st August) Financial Year (FY) 2017-18. According to details given by Collector Gul Rehman of Model Customs Collectorate Peshawar while talking with Customs Today that, during the first two months of FY17-18, the BWH collected Rs170.17million as Customs Duty while it did Rs0.29million of With Holding Surcharge. During above said period, the BWH generated Rs3.07million of revenue under the head of Redemption Duty on imports (RD Imp) whereas it did Rs17.36million as revenue of Sales Tax (ST).
Non-Duty-paid Nissan loader impounded by khushab FIu FAISALABAD
NAeeM SheIkh
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he Field Investigation Unit (FIU) Faisalabad has taken into possession a non-duty-paid Nissan truck with registration No: TKB-664 (Sibbi), model 1987, valued at Rs2.5million involving customs duties and taxes of Rs3.3million. Sources told Customs Today that Director Zulfiqar Younas received some secret information regarding some non-paid-paid vehicles plying on the roads. He constituted a team consisting of Superintendent Muhammad Tahir, Intelligence Officer Mansoor Nasir, Ansar Saleemi, Driver Tajamul Haq, Havaldar Muhammad Sajjad and Sepoy Khalil Ahmed. The FIU team intercepted a Nissan truck near River
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Jhelum Bridge, Sargodha-Mianwali Road, district Khushab, and asked the owner of the vehicle, identified as Saleem Ullah Khan son of Habib Ullah Khan, a resident of district Mianwali, to produce the legal documents regarding the possession of truck but he failed to provide anything lawful. So the FIU team impounded the truck and forwarded the case to the customs adjudication for further legal proceeding. Meanwhile, The Field Investigation Unit (FIU), Sara-e-Muhajir Customs Intelligence, has impounded a Hino truck worth Rs4million involving duties and taxes amounting to Rs4.7million during an action. Superintendent Muhammad Tahir received a tip-off regarding the Non-Duty-Paid vehicle. He constituted a raiding team, comprising Intelligence Officers Muhammad Saleem and Mansoor Nasir and Sepoys Mukhtar Ahmed, Fakhar Abbas, Muhammad Shehbaz and Usman Iqbal, to take into possession the Non-Duty-Paid vehicle.
National
ANF seizes rs36m drugs, chemicals in 18 countrywide operations
NAB court convicts four persons up to 7 years imprisonment HYDERABAD
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he National Accountability Court has convicted 4 persons including 2 government revenue officials to up to 7 years in prison in a land record forgery case. According to the details, the court convicted former Assistant Commissioner Hala, Matiari district, Aqeel Munawar Abro and former Mukhtiarkar Hala Abdul Rasheed Kaka for 7 years imprisonment and Rs 50,000 fine over each.Two private citizens Haji Ilyas and Muhammad Yousuf who acted as abettors with the principal accused persons were convicted with 2 years jail term and Rs 100,000 fine. The National Accountability Bureau filed the reference number 11/2016 against the accused alleging them of misuse of authority. The convicts illegally benefited a private person Nisar Abro by keeping bogus entry of the government land measuring 15.8 acres in Deh Bhit Shah of Matiari district. By doing so they showed that the government land was actually owned by a private citizens in the revenue record. According to the NAB’s prosecutor the forgery was done after assassination of former Prime Minister and chairperson of Pakistan Peoples Party Benezir Bhutto in 2007.
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he Anti-Narcotics Force (ANF) has recovered 17.22 kilograms of drugs and 700 kilograms of prohibited chemical worth Rs36 million in international market, while arrested 21 drug peddlers and seized six vehicles in 18 counternarcotics operations conducted across the country. The arrested offenders also include seven drug suppliers involved in supply of drugs among the students of academic institutions as ANF’s special drive focusing on apprehension of elements involved in supplying drugs to educational institutions, a press release said. The recovered drugs comprised 14.5kg hashish, 1.7kg heroin, 700gram opium, 100gram Amphetamine and 20gram cocaine, while prohibited chemical includes 350kg acetic anhydride and 350kg suspected chemical. According to details, ANF Rawalpindi intercepted a Honda Accord car near Monal Down Town, Murree Road, Saddar, Rawalpindi and recovered 400gram hashish from possession of an accused, Muhammad Adil Sohail, res-
Friday September 15, 2017
ident of Rawalpindi. As per preliminary reports, he was also involved in supply of drugs to the students of academic institutions. In another operation, ANF Rawalpindi intercepted a Honda car near Bahria Town, Islamabad and recovered 3.6kg hashish and 100gram Amphetamine during search of the car. A person on board identified as Syed Amir Ali Shah resident of Peshawar was arrested on the spot. Yet in another operation, ANF Rawalpindi
arrested Taimur Arslan resident of Rawalpindi along with 300gram hashish and 20gram Cocaine. He was arrested near Tehzeeb Bakers, Commercial Market. In fourth operation, ANF Rawalpindi intercepted a Toyota Corolla car near Sajnwali Bridge, Sanjwali, Attock and recovered 1.6kg hashish and700gram Opium during search of the vehicle. Two persons on board identified as Aamir Khan and Umer Hayat residents of Attock were arrested on the spot.
Nine Additional commissioners assume charge
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ine Inland Revenue Service ofVicers have assumed charge as Additional Commissioner on their promotion to BS-19. Asad Khan Luni assumed the charge of the post of Additional Commissioner-IR (BS-19), Regional Tax OfVice, Quetta after relinquishing charge of the post of Deputy Commissioner-IR (BS-18), Regional Tax OfVice, Quetta with effect from August 31. Asma Hoori took charge as Additional Commissioner-IR at Corporate Regional Tax OfVice, Karachi and relinquished the charge of the post of
Additional Commissioner-IR (OPS) (BS-18), Corporate Regional Tax OfVice, Karachi on August 17. Ashfaq Ahmed Awan relinquished the charge of the post of Additional Commissioner-IR (OPS) (BS-18), Large Taxpayers Unit, Karachi on August 17 and assumed the charge of the post of Additional Commissioner-IR (BS-19), Large Taxpayers Unit, Karachi on the same date. Farooq Azmat Chatha assumed the charge of the post of Additional Commissioner-IR (BS-19), Large Taxpayers Unit, Lahore on August 17 after relinquishing the charge of the post of Additional Commissioner-IR (OPS) (BS-18), Large Taxpayers Unit, Lahore. Naeem Babar
took the charge of the post of Additional Commissioner-IR (BS-19), Regional Tax OfVice-II, Lahore and relinquished the charge of the post of Additional Commissioner-IR (OPS) (BS-18), Regional Tax OfVice-II, Lahore with effect from August 17. Ajmal Khan assumed the charge of the post of Additional Commissioner-IR (BS19), Regional Tax OfVice, Peshawar on August 17 and relinquished the charge of the post of Additional Commissioner-IR (OPS) (BS-18), Regional Tax OfVice, Peshawar. Muhammad Ali took the charge of the post of Additional Commissioner-IR (BS-19), Regional Tax OfVice-II, Lahore on August 17 after relinquishing the charge of
the post of Additional CommissionerIR (OPS) (BS-18), Regional Tax OfViceII, Lahore. Rizwan Memon (BS-18) an ofVicer of Inland Revenue Service has relinquished the charge of the post of Deputy Commissioner-IR (BS-18), Regional Tax OfVice, Hyderabad August 31 and assumed the charge of the post of Additional Commissioner-IR (BS-19), Regional Tax OfVice, Hyderabad. Amna Naeem took the charge of the post of Additional Commissioner-IR (BS-19), Regional Tax OfVice-II, Lahore on August 17 and relinquished the charge of the post of Additional Commissioner-IR (OPS) (BS-18), Regional Tax OfVice-II, Lahore.
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World Customs
Singapore’s GDP growth outlook stays at 2.5%
SINGAPORE: Private sector economists retained their full-year growth forecast for Singapore at 2.5% despite a stronger-than-expected second-quarter performance, as increased optimism about the manufacturing sector was offset by a more negative outlook for construction, accommodation and food services. The Monetary Authority of Singapore’s latest quarterly survey of economic forecasters also showed growing concerns about the situation in the Korean peninsula as well as ongoing fears about protectionism and a slowdown in China.
Friday September 15, 2017
cBp resumes operations despite harvey disaster declaration
cBS paying A$201.1m for Australia’s ten Network CANBERRA
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espite an ongoing federal disaster declaration, Customs and Border Protection has resumed routine immigration enforcement operations in areas affected by Hurricane Harvey, agency spokeswoman Yolanda Choates said in a statement Tuesday. On August 25, CBP and Immigration and Customs Enforcement announced a temporary hold on “routine non-criminal immigration enforcement operations” at storm evacuation sites, shelters and food banks as Hurricane Harvey reached major disaster status and tore through the Texas coast. Choates said that CBP agents apprehended no illegal immigrants from Aug. 29 to Sept. 9 in storm-stricken areas from Corpus Christi to New Orleans. FEMA spokesman Troy Christensen conVirmed that the area’s fed-
unemployment in Ireland fell to 6.3% nemployment in Ireland fell to 6.3 per cent in August following a surprise uptick in July. The latest figures show that the number of workers classified as unemployed fell by 1,700 to 139,100 in August, which equates to an annual decrease of 33,900. Having peaked at 15.2 per cent at the height of the crash in 2012, the Republic’s jobless rate is now three points lower than the euro-area average of 9.1 per cent. On current trends, the State’s headline rate is expected to be 6 per cent or lower by the end of the year. Several think tanks have warned that at unemployment levels below 6 per cent the Irish economy is close to full employment and runs the risk of overheating. Commenting on the latest numbers, recruitment website Indeed warned the current rent crisis may be putting off overseas workers from helping address Ireland’s tightening labour market. –CB Report
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eral disaster declaration was ongoing as of Tuesday afternoon. Six hundred CBP employees participated in Harvey aid efforts and ultimately rescued 1,362 people and 29 pets, Choates said, adding that CBP emergency operations centers began closing on Sept. 4. “CBP did not check people’s immigration status during the rescues and did not conduct any immigration enforcement at evacuation sites or shelters,” Choate said. “While no apprehensions were
logged through Sept. 9, CBP returned to normal operations in the impacted areas along the Texas Gulf Coast after Sept. 5.”Carl Rusnok, communications director for the central region of ICE that includes Texas, said that the agency did not carry out any non-criminal immigration enforcement operations and “made no at-large immigration-related arrests routine or otherwise during or after Hurricane Harvey in the affected area of the hurricane.
hong kong checking bank loans to hNA, wanda
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he Hong Kong Monetary Authority has asked banks in the city for details of their loans to HNA Group and Dalian Wanda, people familiar with the matter told Bloomberg. Lenders were required to submit a survey to the city’s de facto central bank providing information such as total credit extended and outstanding loans to the two companies, said the people. Checks on lending to Chinese conglomerates
were stepped up in recent weeks, one of the people said. In a statement to Bloomberg, the HKMA said it engages in discussions with banks on different issues, without commenting further. It’s common practice for the authority to query banks over their exposures to certain sectors, as it has done with property loans in recent months. While the checks aren’t a guarantee of any regulatory action. –CB Report
BS Corp is paying A$201.1m ($162m) for Ten Network Holdings, according to a report from the embattled Australian company’s receivers. The US broadcaster said late last month that it had agreed to buy the Australian television network, fending off a rival offer linked to Rupert Murdoch’s News Corp. Details of the transaction, released today as part of a report to Ten’s creditors by KordaMentha, put the total value at A$201.1m. The deal comprises a A$139.1m payment to secured creditors and A$32.0m to a creditors’ trust. Working capital of A$30m is also included, of which A$3.6m has already been drawn down. The CBS bid remains subject to a legal challenge and the results of a meeting of creditors. Ten Network
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posted a loss of A$156.8m (US$118m) in the year through August 2016, and it had net debt of A$54.5m as of the end of that month. The company was placed in administration in July after support for a loan guarantee was withdrawn by its Australian backers –News Corp cochairman Lachlan Murdoch, casino magnate James Packer and media mogul Bruce Gordon. CBS is a major supplier of programming to Ten and is listed as the broadcaster’s largest creditor. Meanwhile, The Australian Taxation OfVice (ATO) announced September 7 that it is conducting an in-depth review the tax and transfer pricing practices of the pharmaceutical industry to make sure that the correct amount of tax is being paid. A team of senior ofVicers has been tasked with conducing the review, the ATO said. The assessment covers related party Vinancing, thin capitalization, intellectual property migration, consolidation, business restructures, research and development, and other tax risks.
canada’s jobless rate hits 9-year low anada’s labour market posted its ninth-straight month of job gains in August to give the economy its longest monthly growth streak since before the Vinancial crisis nine years ago. Statistics Canada says last month’s increase of 22,200 jobs also helped nudge the unemployment rate down from 6.3 per cent in July to a nine-year low of 6.2 per cent. But the data shows last month’s growth was fuelled by less-desirable work as the economy gained 110,400 part-time jobs and shed 88,100 full-time positions. The agency says most of the decline in fulltime work was concentrated among young Canadians aged 15 to 24 years
old, who also showed a notable decrease last month in labour force participation. Looking at the bigger picture, however, the latest numbers show the labour market expanded 2.1 per cent compared to a year earlier with the addition of 374,300 net new jobs. nThe data provides yet another sign the economy continues to have momentum after a strongerthan-expected start to 2017 that has also prompted two interest rate hikes by the Bank of Canada. The agency also says wages grew 1.8 per cent last month compared to a year earlier for the biggest increase since last October. –CB Report
SL expects rs45b additional tax revenue from new bill
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COLOMBO
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ri Lanka is expecting 45 billion rupees additional tax revenue through the new Inland Revenue Bill, the Vinance minister said, speaking at the debate in Parliament. The multitude of tax rates prevailing in the current law have been rationalized into a
three band income tax structure of 28 percent standard corporate income tax, 14 percent for thrust industries and 40 percent higher rate for liquor, tobacco and gaming. Accordingly, small and medium scale enterprises will be taxed at 14 percent up to their turnover not exceeding 500 million rupees. Other speciVied sectors such as IT, BPO & software development, education & culture, tourism, agriculture
and export of goods & services will only be taxed at 14 percent. New investors of thrust industries will not have to pay any taxes until their investment is fully recovered. The IT sector will have concessions based on the employment creation while the jems and jewellery industry will have the same concessions as at present. Temples, Churches, Mosques and other religious institutions will not have to pay
income tax under the proposed act. According to new bill, monthly income of an individual below 100,000 rupees have been declared tax free and the threshold for annual PAYE tax has also been increased to 1.2 million rupees. Under the new bill, monthly interest income of a senior citizen has been exempted up to 125,000 rupees and their rental income has also been excluded from tax up to 25 percent.
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Six ships take berth at Port Qasim KARACHI: The Port where six ships C.V Spint of Mumbai, C.V Prosper, C.V MSC Pamela, M.V Sea Joy, M.V Hyundai Masan and M.T Bahra carrying containers, rape seeds, proiect cargo and diesel oil were allotted berths Qasim International Container Terminal, Grain & Fertilizer Terminal, Multi-Purpose Termnal and FOTCO OIL Terminal respectively Meanwhile five more ships C.V MSC Al-Ghero, C.V X-Press Kaislash, M.T Al-Jassasiya, M.T Chemtar Masa, and M.T Pavino Spirit carrying containers, LNG, phosphoric Acid and furnace oil also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was observed at the Port at 59% on Monday where a total of ten ships namely, Spirlt of Mumbai, Prosper, MSC Pamela, Hyunday Masan, Da King, Nautical Jennifer, Sea Joy.
hutchison ports secures europe-Asia gateway utchison Ports has agreed to manage existing and future operations at Port of Basra in southern Iraq, located in the Shatt al-Arab waterway leading to the Persian Gulf. The Hong Kong-based port operator will pair with NAWAH Port Management (NPM) to look after commercial and operational activities under the name of Hutchison Ports Basra. As a key gateway between Europe and Asia, Port of Basra offers services for large, multinational companies to local Iraqi merchants. NPM operations have a key competitive advantage over other ports in the region due to its proximity to Iraq’s southern oil and gas fields and the city centre. Andy Tsoi, Hutchison Ports’ Managing Director – Middle East and Africa, said: “We view NPM’s operations at the Port of Basra as an integral piece of our expanding Middle East strategy
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and are excited about the opportunities this partnership creates. “We believe strongly in the growth story of Basra, Iraq, and the Middle East as a whole and are delighted to have the opportunity to participate in and support the growth of the business over the long term.” Eric Clark, CEO of NPM, said: “Hutchison Ports has an exceptional team and a proven track record of delivering value to its customers, employees and the regions in which it invests. “We are delighted for the opportunity to partner with one of the leaders in the industry – a company which shares our vision of NPM as both a unique maritime asset in southern Iraq as well as strategic platform in the epicentre of one of the fastest growing regions in the world.” –CB Report
Ports & Shipping
coSco Shipping ports ups profits in first half 2017 WASHINGTON
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OSCO SHIPPING Ports Ltd. reported proVits attributable to equity holders of the company of $384.7 million for the Virst half of 2017, up 123.7 percent from the corresponding 2016 period, according to the company’s latest Vinancial statements. Formerly known as COSCO PaciVic, COSCO SHIPPING Ports is the port terminal operator arm of China COSCO Shipping Corp. Ltd., the merged shipping conglomerate formed last year from staterun Virms COSCO and China Shipping. As of June 30, COSCO SHIPPING Ports had 3,314 employees. COSCO SHIPPING Ports’ revenues for the first half of 2017 totaled $275.8 million, inching up 0.3 percent from the same period last year. Meanwhile, throughput at its container terminals for the first half of 2017 reached 41.8 million TEUs, surging 11.8 percent yearover-year. “The rise in interna-
tional trade, the official operation of the OCEAN Alliance and ‘THE’ Alliance in April 2017, as well as the launch of mega-vessels, all increased calls at hub ports, and enabled the Group to achieve encouraging results in container terminals business,” COSCO SHIPPING Ports said. The throughput of the Greater China region accounted for 78.7 percent of COSCO SHIPPING Ports’ total container throughput for the first half of the year, with volumes totaling 32.9 million TEUs, up 6.1 percent from the first half of 2016.
Throughput at the Group’s overseas terminals, which accounted for the remaining 21.3 percent of its total container throughput for the first half of the year, stood at 8.9 million TEUs, rising 39.8 percent from the first half of 2016, mainly due to the inclusion of the volumes at Euromax Terminal Rotterdam B.V. to the Group since Oct. 1, 2016. During the first half of 2017, the group completed the subscription of non-circulating domestic shares in Qingdao Port International Co., Ltd.
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port of oswego director’s phone, computer seized tate investigators seized the cell phone and computer of the Port of Oswego Authority’s executive director in a surprise visit Wednesday, the port’s board chairman said Thursday. The devices were taken Wednesday afternoon by investigators from New York Inspector General Catherine Leahy Scott’s office, chairman Terry Hammill said. He said he doesn’t know what the office is investigating. He stressed the port’s employees cooperated fully. His account of what occurred at the port is based on conversations with the executive director, Zelko N. Kirincich, and other employees who saw the agency’s visit. He was not at the port while the IG’s staff was there or since, he said. “All I know is a bunch of IG folks walked in and started their inspector general inspection,” he said. The visit happened early Wednesday afternoon, and investigators stayed until 6 p.m., he said. About a dozen investigators arrived and asked to take the property and said they could bring a search warrant if necessary. –CB Report
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tuas port upgrade to take on new challenges WASHINGTON
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nother challenge has been thrown at us, with the Arctic route opening up and offering a potential alternative (Breaking the ice on fragile Arctic’s potential; Aug 28). It is just as well the development of our Tuas mega port is ahead of schedule. There is already pressure from ports in Malaysia and Indonesia that are being added to and upgraded. And there is the Belt and Road initiative, China’s new Silk Road plan, mainly an infrastructural undertaking that includes ports too. It is important for a fast-moving, progressive country like ours to upgrade infrastructure, incorporate cutting-edge technologies and implement skills training or retraining programmes to remain competitive. This takes on greater urgency now.
But we have always excelled when put to the test and will continue to do so, as with our port development. At the same time, there are beneVits to be had from becoming involved in the Belt and Road. This huge initiative gives China access to Africa, Asia and Europe through a series of
ports, railways and roads, with industrial parks thrown in for good measure. Singapore, as a transshipment centre at the crossroads of the region, can draw on its commercial role and reliability and gain from the increasing trade made possible by the connectivity along the Belt
and Road, which will enhance regional integration. Meanwhile, The Port of Long Beach will start its fall round of sponsorship decisions this Friday, Sept. 1. A couple of years ago, the Harbor Commission decided to consolidate the process of granting sponsorships instead of considering applications virtually every meeting. Now there are two set periods to apply each year — spring and fall. Last April, in the second call of the 2017 Viscal year, commissioners awarded 136 sponsorships totaling $372,500 to community organizations. The groups receiving funding represented a wide cross-section of the city and supported causes including the arts, environment, social justice and historic preservation. The port will begin accepting applications for the next round Friday. The deadline to get an application in is 4 p.m. Friday, Sept. 29.
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Car, LCVs purchase continued its growth in new fiscal year Friday September 15, 2017
Business
ISLAMABAD: Car sales during the first two months of the new fiscal year surged by 40 percent to 52,290 units. According to Private news channel, leading brokerage house-Insight Securities, the launch of new products, subsidies and CPEC related demand has kicked off during FY2018 for the auto sector volumes. As per the recent numbers released by Pakistan Automotive Manufacturers Association (PAMA), August 2017 Automobile sales (Cars, LCVs, HCVs & Tractors) recorded 36 percent growth on month to month basis to reach at 28000 units.
Dar asks FBr to achieve overall set targets KARACHI
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inister for Finance, Economic Affairs and Revenue, Senator Mohammad Ishaq Dar on Wednesday called upon ofVicials of the Federal Board of Revenue (FBR) to put in their best to achieve the overall targets, set for the current Viscal year. Chairing a high level meeting at FBR to review progress of revenue collection in the current Viscal year, the Finance Minister appreciated FBR’s efforts for revenue collection in July-August period of FY 2017-18 and said the spirit with which the whole FBR team had worked together was al-
Man involved in hundi business arrested LAHOFRE
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ready showing good results. He emphasized on concerted efforts for broadening the tax base and said people must be provided proper facilitation to contribute their due share to national exchequer. The Minister said that Government
tax collection increases 24%, rs36 refunds paid in two months
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IA Gujrat team conducted a raid at a shop in Sarai Alamgir on Wednesday and arrested an accused for running an illegal business of currency exchange/hundi hawala. According to FIA spokesman, the team also recovered Rs 1,522,000, foreign currency, cheque books,ledgers,receipts and other documents from Muhammad Usman of Langar Pur, Jehlum. A case has been registered against the accused.
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aimed to achieve sustainable economic growth and FBR’s role in this respect was very important. Special Assistant to Prime Minister on Revenue, Haroon Akhtar was also present. Earlier, Chairman FBR gave the meeting an update
on the state of revenue collection in July-August 2017-18. He informed that over 24% growth in gross revenue has been registered in the first two months as compared to the corresponding period in FY 2016-17. He added that as against Rs. 17 billion worth of refunds paid in July-August last fiscal year, Rs. 36 billion have been refunded in the first two months of the current fiscal year. The net collection after refunds shows increase of 21.02%, over the last year. The Finance Minister was also apprised about FBR’s robust awareness campaign utilizing electronic as well as social media for sensitizing existing as well as potential taxpayers to file their returns by the due date which is 30th September, 2017.
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he gross revenue collection during the Virst two months (July-August) of the current Viscal year witnessed growth of 24 per cent as compared to the corresponding period of last year. While the Federal Board of Revenue (FBR) paid refunds Rs36 billion in July-August (2017-18) compared to the refunds of Rs17 billion in JulyAugust (2016-17), Chairman FBR, Tariq Pasha informed a high level
meeting which was chaired by Finance Minister, Senator Mohammad Ishaq Dar.The meeting was convened to review progress of revenue collection in the current Viscal year. Special Assistant to Prime Minister on Revenue, Haroon Akhtar was also present. The net collection after refunds showed an increase of 21.02%, over the last year, the FBR Chairman said. The Finance Minister was also apprised about FBR’s robust awareness campaign utilizing electronic as well as social media for sensitizing existing as well as potential taxpayers to Vile their returns by the due date
which is September 30, 2017.The Finance Minister was briefed that active liaison was being maintained with corporate employers to ensure maximum Viling of income tax returns. In the next phase trade bodies, tax bars and Chambers of Commerce and Trade would be engaged to facilitate and ensure Viling of maximum number of returns. On the occasion, the Finance Minister appreciated FBR’s efforts for revenue collection in July-August period of FY 201718 and said the spirit with which the whole FBR team had worked together is already showing good results.
pak, uk to further strengthen bilateral relations MULTAN
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ederal Minister for Defence Production Rana Tanveer Hussain and UK Minister of State for Armed Forces Mark Lancaster Wednesday agreed on further strengthening bilateral relations of Pakistan and United Kingdom. According to a press release, they discussed issues of mutual interest during the meeting. Rana Tanveer Hussain identified various fields in which both countries can further boost bilateral cooperation. He said that joint production projects should be started to expand ties. The minister also met Chief Executive Officer Marshall Aerospace and Defence Group, an aircraft maintenance, modification and design company located at Cambridge Airport, which also owns and operates the Cambridge airport. The minister was on a five-day visit to attend Defence and Security Equipment International Exhibition. He was attending the exhibition on the invitation of Department for International Trade, Defence and Security Organization. Earlier, the minister also attended the inaugural ceremony of the Defence and Security Equipment International exhibition and also visited various companies’ stalls.
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NAB to file corruption reference against Asif hashmi ISLAMABAD
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he Executive Board (EB) of National Accountability Bureau (NAB) has decided to Vile corruption reference against Syed Asif Akhtar Hashmi, Ex-Chairman Evacuee Trust Property Board (ETPB) and others. The Executive Board meeting of National Accountability Bureau (NAB) was held under the
chairmanship of Qamar Zaman Chaudhry, Chairman NAB here on Wednesday. The following decisions were taken during the Executive Board (EB) meeting: In case against Asif Hashmi, the accused persons were alleged for illegal investment with Highlink Capital (Pvt) Limited, causing a loss of Rs 1.3 billion to the national exchequer. The Executive Board decided to authorize four (4) Investigations. The First investigation was author-
ized against Director/Guarantors of M/s Umair Steel Industries (Pvt) Ltd, Lahore and others. In this case, the accused persons were alleged for willful loan default referred by State Bank of Pakistan (SBP) under section 31-D of NAO1999 thus causing a loss of Rs 52.290 million to the national exchequer. Second Investigation was authorized against management of M/s Power Pack Company and others. In this case, the accused persons were al-
leged for willful loan default referred by state Bank of Pakistan (SBP) under section 31-D of NAO-1999. They caused a loss of Rs 164.826 million to the national exchequer. Third Investigation was authorized against Abdul Rauf Khoso, MPA (PS-18) and others. In this case, the accused persons were alleged for misuse of authority and assets beyond known sources of income and misappropriation of government land in connivance with ofVicers/ofVicials of Revenue Department,
District Kashmore at Kandhkot. They caused a loss of Rs 550 million to the national exchequer. Fourth Investigation was authorized against Saeed Ahmed Jagrani, Ex-Director NARA Canal (SIDA) Mirpurkhas and others, ofVicers/ofVicials of NASRAT Division, Irrigation Department, Sindh and others. In this case, the accused persons were alleged for misuse of authority, illegal appointments and substandard work of stone pitching at NASRAT Canal.
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Russian rouble up slightly on strong oil prices MOSCOW: The Russian rouble firmed on Thursday in response to oil prices which a day earlier went above $55 per barrel for the first time since April, while equity markets fell in anticipation of a likely interest rate cut later this week. At 0740 GMT, the rouble was 0.28 percent stronger against the dollar at 57.8 and had gained 0.25 percent to trade at 68.72 versus the euro. Brent crude oil, a global benchmark for Russia’s main export, was down 0.16 percent at $55.08 a barrel. But prices have been generally on an upward path, and are nearly $10 higher than the year-low in June. Twenty of the 23 analysts and economists polled by Reuters said they expected the central bank to lower the key interest rate by 50 basis points. The central bank could on Friday also shed light on its draft guidelines, including a nuanced definition of the inflation target, analysts at VTB Capital said in a note.
wccI highlights problems faced by entrepreneurs LAHORE
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Friday September 15, 2017
Chambers
Ict police asked to revive prc to resolve traders issues
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omen Chamber of Commerce and Industry (WCCI) is facilitating and encouraging women entrepreneurs in an effort to ensure their contribution in the economic growth of Pakistan. While talking to members of Lahore Economic Journalists Association (LEJA), WCCI President Shazia Suleman said that equal participation of women in every sector was must for economic development of a country, citing that no nation could progress without ensuring gender equality. The WCCI president mentioned that women entrepreneurs are facing numerous issues including registration of their respective companies for which women chamber extends all-out support to
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them. She urged the government to help set up WCCI independent office that would ensure more tangible results. She also called for putting in place concrete step to empower women in true sense of words. Shazia said that WCCI was also encouraging women entrepreneurs at grass root level and collecting their particulars, which would prove to be helpful. at government level. She said that the WCCI was also holding seminars on China Pakistan Economic Corridor (CPEC) to enable women entrepreneurs to do business with more confidence. She demanded that special export packages should be announced to increase women export proportion in the total exports. “We do not want separate industrial zones but a portion dedicated for them in every industrial zone, and we will prove our worth as entrepreneurs,” she said.
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olice Reconciliation Committees comprising representatives of police and citizens play effective role in resolving the out of court disputes and ICT Police in consultation with ICCI should revive these Committees that will help in resolving business community issues more effectively. This was said by Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry while addressing a delegation of ICT DSPs during their visit to Chamber House. DSP Shalimar Circle Abdul Razzaq, DSP Margala Circle Ghulam Mustafa, DSP Bara Kahu Circle Safeer Bhatti, DSP Sehala Circle Malik Naeem Iqbal and DSP Abpara Circle Fida Hussain Satti were in the delegation. Khalid Malik said that DSPs were the backbone of Islamabad Police and they should reconstitute Reconciliation Committees in consultation with ICCI comprising honest and clean people. He said these Committees would play role in resolving disputes that would also
lessen burden on the ICT Police. He said the performance of ICT police was better as compared to the rest of the country which was laudable. Tahir Ayub, Vice President ICCI said that close liaison between ICT Police and ICCI was vital to resolve the issues of business community smoothly. He said both organizations should maintain regular interaction to achieve win-win results for the citizens. DSP Shalimar Circle Ab-
dul Razzaq, DSP Margala Circle Ghulam Mustafa, DSP Bara Kahu Circle Safeer Bhatti, DSP Sehala Circle Malik Naeem Iqbal and DSP Abpara Circle Fida Hussain Satti speaking at the occasion assured that ICT police would fully cooperate in resolving the key issues of business community. They said that business community was playing important role in the economic development of the country and Islamabad Police would
pIFA’s market campaign continues successfully LAHORE
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akistan Industrials and Traders Associations Front (PIAF)-Founders Alliance is continuing successfully its campaign for the Associate Class of the upcoming LCCI (Lahore Chamber of Commerce and Industry) elections. PIAF-Founders Alliance (PFA) candidates along with their leadership and supporters have, for the last three days, visited main Markets of Lahore including Urdu Bazaar, Gantpat Road, Abkari Road, Rahman Galian and other adjacent markets, according to PFA spokesman Abdus Saboor here Sunday. A Large number of market leaders and traders welcomed the Alliance candidates and leadership and showed complete trust in them,
he claimed. During their visits, he said, the PIAF-Founders Alliance (PFA) leaders have pledged to continue to raise voice for the solution of the problems being faced by business community. The presence of a large number of market representatives during their visits was an ample proof to make the point that the business community wanted continuity in the policies introduced by the Alliance. Campaign leaders Sheikh Muhammad Asif and Irfan Iqbal Sheikh said that it seemed now difVicult to dent the formidable unity of existing alliance of The Founders and PIAF in the provincial metropolis. They said that they Virmly believed in rule of law, promotion of democratic system and strengthening of national economy by safeguarding the interests of traders. The Alliance had decided to
introduce sector specialists as their candidates for the LCCI Executive Committee with the sole objective to forward solid proposals to the government for economic progress and prosperity, they added. PIFA leaders hoped that business community would repose conVidence in Alliance in the larger interests of the economy of the country. Meanwhile, Geo political changes and formation of new trade & economic alliances around the orb have underlined the need for new strategic economic foreign policy of Pakistan. This was upshot of the speeches delivered at a seminar on “DeVining Guidelines for New Strategic Economic Policy of Pakistan visà-vis China-Iran-Russia-Turkey” joint organized by the LCCI and Golden Ring Economic Forum (GREF) at the Lahore Chamber of Commerce & Industry.
take all possible measures to protect their business interests. ICCI Police Committee Chairman Saif ur Rehman, Zafar Bakhtawari, Khalid Chaudhry, Tahir Abbasi, Ashfaq Hussain Chatha, Tahir Abbasi, Ch. Tahir Mehmood, Amin ur Rehman, Ch. Irfan, Muhammad Zareef and others were also present at the occasion. At the end of the meeting, ICCI awarded certiVicates and shields to the police ofVicers.
ceylon chamber forum on new S Lanka income tax law he Ceylon Chamber of Commerce will hold a seminar on Sri Lanka’s new ‘Inland Revenue Act’ with State Minister of Finance Eran Wickramaratne explaining its features followed by a panel discussion by tax experts. The seminar on 11th September, 2017 starting at 2 PM will help the private sector to gain a clear understanding of the income tax implications of the new Act, a statement said. Wickramaratne, the keynote speaker, is expected to explain the rationale for the new tax bill, overall tax reforms agenda, and the government’s plans for fiscal consolidation and economic growth. His address would be followed with presentations by Sulaiman Nisthar, Partner. –CB Report
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Sara-e-Muhajir FIU takes into possession Hino truck valued at Rs4m FAISALABAD: The Field Investigation Unit (FIU), Sara-e-Muhajir Customs Intelligence, has impounded a Hino truck worth Rs4million involving duties and taxes amounting to Rs4.7million during an action. Superintendent Muhammad Tahir received a tip-off regarding the NonDuty-Paid vehicle. He constituted a raiding team, comprising Intelligence Officers Muhammad Saleem and Mansoor Nasir and Sepoys Mukhtar Ahmed, Fakhar Abbas, Muhammad Shehbaz and Usman Iqbal, to take into possession the Non-Duty-Paid vehicle.
Friday, September 15, 2017
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customs Adjudication concludes 22 seizure cases of rs 32.5 million MULTAN IMrAN ALI
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he Collectorate of Customs Adjudication has concluded the hearing of 22 seizure cases worth Rs 32.5 million during the month of August. According to details, Deputy Collector Farhat Ali decided 13 seizure cases worth of Rs 6.995 million after the completion of trial. He had conducted legal proceeding of 34 seizure cases. The Deputy Collector decided 12 seizure cases in favor of the department and one in favor of the taxpayer during the period. The Deputy Collector decided 55 pending seizure cases involving amount of Rs 20.145 million after end of August. There were 21 fresh seizures cases worth Rs 12.304 million during August. These seizure cases were formed by the Anti-Smuggling Organization and Customs Intelligence and Investigation in different anti smuggling activities. Additional Collector Talib Hussain has Vinalized 5 different seizure cases of Rs11.162 million for the duration of August after the completion of case proceedings. There were almost 10 seizure fresh cases of worth Rs14.50 million included in the additional
court for legal trial in August. Additional Collector has decided all Vive seizure cases in the favor of Customs department. There are still 19 various seizure cases of worth Rs.30.900 million pending to Additional Collector
in the Customs Adjudication. Collector Customs Adjudication Mirza Mubashir Baig has settled four seizure cases of Rs14.341 million during the month of August. Collector Mirza Mubashir Baig has two pend-
ing seizure cases of worth Rs.38.890 million including Gulistan Textile Mills and Ahmad Hassan Textile Mills after the end of August. Almost 57 new seizure cases of worth Rs 29.336 million have been added during the
month of August for legal proceedings in the Customs Adjudication Multan ofVice. There are still 76 pending seizure cases of Rs.89.935 million available in the Customs Adjudication from September.
ANF recovers 827.5kg drugs, 50ltr Acetic Anhydride ISLAMABAD
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nti Narcotics Force Pakistan recovered 827.5 Kg drugs amounting to Rs 1.38 Billion in international market, arrested 15 drug offenders and seized six vehicles in 13 counternarcotics strikes conducted across the country. According to ANF, the recovered drugs comprised 445 Kg Hashish,
355 Kg Opium, 14.5 Kg Heroin, 3 Kg Amphetamine and 50 liter of Acetic Anhydride. The ANF Quetta, in two different intelligence based operations conducted at General Area Killi Norak, Tehsil Gulistan, District Qilla Abdullah and Killi Noshisar, Tehsil and District, Quetta had seized 293 Kg Hashish, 10 Kg Opium and 30 Kg Hashish. Moreover, ANF Quetta recovered 10 Kg Hashish and three Kg Amphetamine from personal possession of accused identiVied as Karim Khan residents of Quetta near Kako Zai Town Bosa Mandi Tehsil and District, Quetta.
In fourth operation ANF Quetta intercepted a Toyota Corolla car near Ziarat Cross, Tehsil and District Ziarat and during the search 48 Kg Hashish was recovered from secret cavities of the car. A person identiVied as Nazeer Ahmed resident of Naseerabad was apprehended during the operation. In other 3 operations at Saindak Road, Taftan Border Area Road, Tehsil Dalbandin and Chagai Road near Ghuncha Dori Tehsil and District Mastung, 50 liter Acetic Anhydride, 345 Kg Opium from Double Cabin, 4.5 Kg Heroin, 10 kg Heroin Powder and 900
grams Hashish were seized and three persons were apprehended during the operations. The ANF Rawalpindi intercepted a Suzuki FX Car opposite Rawal Hospital, main Lehtrar Road, Islamabad and arrested two persons identiVied as Muhammad Sarwar resident of Attock and Wajid Hussain resident of Rawalpindi along with 2.4 Kg Hashish concealed in right side door of the vehicle. In another operation ANF Rawalpindi intercepted a Toyota Corolla Car and recovered 50.4 Kg Hashish near 26 Number Chungi, Bus Stop, Islamabad and arrested an accused
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identiVied as Aman Ullah. The drugs were concealed in secret cavities of the car. The ANF Peshawar recovered 7.2 Kg Hashish from personal possession of two accused identiVied as Iran Jehanzeb, resident of Khyber Agency and Peshawar respectively. They were arrested near Zkori Bridge, Ring Road, Peshawar. Similarly, ANF Karachi intercepted a Toyota Hilux Double Cabin at Safora Gooth Chowrangi, Karachi and recovered 2.4 Kg Hashish from personal possession of the accused identiVied as Shahid Ali and Ejaz Ali both resident of Karachi.