April 14 layout 1

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ustoms Central Region has collected Rs101786 million all duty and taxes during the nine months of financial year 2016-17 (July-March).

As per details the Customs Appraisement Lahore collected Rs48413 million during the first nine month while Customs Preventive collected Rs22710 million during the nine month.

On the other hand, the Collectorate of Multan collected Rs22606 million during the pe-

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riod under review.

In the same way, the Collectorate of Customs Faisalabad collected Rs8055 million during the nine months of financial year 2016-17.

Overall the Central Region collected all duty and taxes from all the four Collectorates worth Rs101786 million.

Sources said that Chief Collector of Customs Zeba Hai Azhar has instructed all the collectors of the four Collectorates to work hard to achieve the targets given by the board and also motivate the subordinates to use all available resources to gather as much revenue as they can do to achieve the targets.

Rs249.238b collected as customs duty in nine months

MoC forwards tentative schedule to S Arabia for 11th session of Pak-Saudi JMC

Pakistan keen to strengthen ties with Belarus: President

Dr Ayesha lauds PRA for enhanced tax collection

Collector Arsalan directs to speed up efforts to collect more revenue

Pakistan Customs collected Rs249.238 b customs duty during the last nine months | See pAge 02 |

PakistanandSaudiArabiaaregoingtoholdthe 1thSessionofPak-SaudiArabiaJointMinisterial | See pAge 03 |

President has said that Pakistan regarded Belarusasanimportantcountryoftheregion | See pAge 04 |

DrAyeshahasthatthePRAisthefirstagency which is collecting tax at provincial level | See pAge 14 |

Collector Customs Dr. Arslan has asked I&P department to use the Article 1694 | See pAge 16 |

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PRA collects Rs2.20tr taxes during last five years Friday, April 14, 2017

National

SIALKOT: -Punjab Revenue Authority (PRA) has claimed to collect Rs.2.20 trillions in shape of different taxes during the last five consecutive years in Punjab’s five Lahore, Gujranwala, Rawalpindi, Multan and Faisalabad Division here.

Deputy Commissioner PRA Gujranwala Division Zaka Ullah disclosed this while addressing the participants of an awareness-raising seminar about the tax culture held at the Gujranwala campus of University of Sargodha (UoS) here He said that the government had established the Punjab Revenue Authority (PRA) in 2012(five years ago) for the collection of the different taxes from across te Punjab.

rs249.238 billion collected as customs duty in nine months

KARACHI

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he Sindh High Court (SHC) restrained the Tax Department from enforcing recovery till the next date of hearing on a constitutional petition filed by M/s Alakh Cotton Ginning Pressing Factory & Oil Mills. Hearing of the petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, also preadmitted notices to the tax department and deputy attorney general of Pakistan directing them to file their respective para-wise comments on the next date of hearing. The court adjourned the hearing for April 13, 2017. During the hearing, counsel for the petitioner submitted that he, pursuant to order under Section 122 (5A) of the Income Tax Ordinance-2001 for the tax year 2011, has preferred an appeal with a stay application before commissioner IR RTO Hyderabad which is pending. During the pendency of such appeal, officials of the tax department issued notice under Section 138 (1) of the Income Tax Ordinance-2001 to the petitioner for recovery of disputed amount.

He further submitted that a taxpayer, if aggrieved by an order passed by the authority concerned is entitled to seek remedy at least before one independent forum provided under the constitution therefore recovery proceedings under the circumstances are based on mala fide.

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akistan Customs collected Rs249.238 billion customs duty during the last nine months (July-March) of Riscal year 2016-17 as compared with Rs216.789 billion it collected in the same period of last year.

Customs duty collection by South region stood at Rs214.727 billion in July-March as compared with the collection of Rs186.316 billion last year. The Customs Department collected Rs457.923 billion as sales tax at import stage during the period under review as against Rs435.45 billion in the same months last year.

Customs Appraisement South’s collection of sales tax at import stage stood at Rs394.242 billion as against Rs364.16 billion collected the last year’s same period.

Income tax collected by Pakistan Customs during (July-March 201617) stood at Rs135.256 billion as compared with Rs126.636 billion last year. Appraisement South collected Income tax of Rs119.814 billion in the period as against Rs110.58 billion collected in the same period last year.

Highest revenue collection in terms of Customs duty came from MCC Port Qasim, which collected Rs69.089 billion followed by MCC Appraisement West collecting Rs63.206 billion and MCC Appraise-

Tax Dept restrained from recovery of amount from M/s Alakh industries

ment East collecting Rs58.38 billion in July-March 2016-17.

Meanwhile, With the aim to determine customs values of several items, the Directorate General of Customs Valuation has scheduled meetings with the stakeholders, including importers, traders and industry

representatives.

According to the schedule , six meetings would be held with the representatives of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Karachi Chamber of Commerce & Industry (KCCI), importers and manufacturers of Food

Supplements & Multivitamins S, Ceiling Suspension System/Tee Grid Galvanized Iron & Steel, Lubricants Oil/Motor Oil, Methanol, Timing Belts For Vehicles and Bathroom Accessories at 10:30am, 11:00am, 11:30am, 11:30am, 12:00am and 12:30pm respectively.

rawalpindi customs confiscates nDp goods worth rs01.970m

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ISLAMABAD

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he Directorate of Customs Intelligence and Investigation FBR Rawalpindi has seized the non-duty paid and smuggled miscellaneous goods including general air-conditioner (Split Type), Foreign Origin ladies suiting cloths weighed 1,508 kg, cloths weighed 700 kg, Foreign Origin Massey Ferguson Engine Oil, Tri Yang Iron Pad Lock meas-

ured 25 mm, Guanmao Cross Lock Atomic Lock measured 38 mm, foreign led pencils, big quality engine oil and Hino truck. The appraised (CIF) value of seized goods is Rs1.970million while recoverable duty and taxes involve Rs1.145million including Customs Duty of Rs333.389million, Sales Tax of Rs361.587million, Withholding Tax of Rs246.073million, RD of Rs111.939million and AST of Rs69.103million. On a tip-off, the Anti-Smuggling staff of the Direc-

torate of I&I FBR Regional OfRice Rawalpindi intercepted a Hino Truck with Registration No: P-9409 Peshawar near Burhan Motorway. The truck was coming from Peshawar side. Asraf Khan S/o Shaireen Khan was driving the vehicle. The search led to the recovery of goods. On demand, vehicle driver could not produce any evidence regarding the legal import or lawful possession of recovered foreign origin goods except bilties belonging to Peshawar united Goods Transport Company. So goods

were seized along with the Hino truck under the Section 168 of the Customs Act-1969. During the investigation, the driver stated that he loaded the goods from a gadown of Ring Road Peshawar. He also confessed to smuggling the foreign origin goods and has no proof regarding the legal import or lawful possession the goods. Meanwhile, The Customs Car Cell and AntiSmuggling Organization (ASO) Islamabad impounded 196 offending and non-duty paid vehicles, including vehicles loaded with smuggled

goods and non-duty-paid ones, valued Rs180.830million during nine months (July to March) of Financial Year (FY) 2016-17. The Model Customs Car Cell impounded 78 NonCustoms Duty Paid (NDP) or smuggled vehicles under the Customs Act-1969 and Artical 16. The estimated worth of the said seized vehicles is Rs51.043 million. These NDP vehicles were impounded from the territory of Rawalpindi and Islamabad on information shared by Collector MCC Islamabad.

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PBIF head for rehabilitation of power plants in the country KARACHI: Rehabilitation of power plants in the country can increase its power generation capacity by 100% without any additional cost, said Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF) In a press statement issued on Monday, he appreciated government decision to construct series of power plants in the country, however, suggested the equal attention must be paid towards proper maintenance of those already functional.

Proper attention must also be paid towards the older ones as their proper maintenance is not very costly, he said.

Friday April 14, 2017

National

nAB’s newlyrecruited 96 ios being trained on modern lines

Moc forwards tentative schedule for 11th session of pak-Saudi JMc

ISLAMABAD

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ational Accountability Bureau (NAB) and Police Training College Sihala Tuesday inked Memorandum of Understanding (MoU) to train newly recruited 96 Investigation Officers (IOs) of Bureau on modern lines. It would be the second batch of IOs who would be trained at same training facility. Earlier in 2015 a batch of 104 IOs of NAB were trained successfully at Sihala. As per details, NAB through National Testing Service (NTS) had advertised 97 posts of IOs for which 94,165 applications were received. After scrutiny, 80,377 candidates were called for written test conducted by the NTS followed by psychological test.

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faisalabad ASo seizes cardamom valued rs01.3m FAISALABAD

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he Customs Anti-Smuggling Organization (ASO) has confiscated 2240 kilogram of foreign origin (F/O) cardamom (Ailaichi) worth Rs01.3million involving duty and taxes of Rs188040 besides impounding a Hino truck valued Rs188040. The ASO has seized items under Section 16,18 of the Customs Act1969 and Section 3 of Sales Tax Act-1990 read with Section 3(1)3 of Import and Export Control Act-1950 punishable under Section 156 (1) 90 of the Customs Act. Following the instructions of Faisalabad Customs Collector Muhammad Sadiq, an ASO team, comprising Superintendent Saeed Akhtar Joiya, Inspector Tanveer-ul-Haq, Khalid Ashraf Noor, Ali Zahid, intercepted Hino truck No: LRT1690 near Canal Road, Kashmir Pull, Faisalabad, and recovered Zeera Brand KLP Patel (1200-kg) and a large quantity of Indian brand cardamom (1040-kg).

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ISLAMABAD

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akistan and Saudi Arabia are going to hold the 1th Session of Pakistan-Saudi Arabia Joint Ministerial Commission during the current month. In this regard, the Ministry of Commerce is Rinalizing the preparations and has conveyed a tentative schedule along with dates for the JMC session to the Saudi Arabian counterpart. However, response from Saudi Arabian side is awaited.

The bilateral trade between Pakistan and Saudi Arabia is on the rise for the past few years. Balance of trade is in favour of Saudi Arabia as Pakistan imports most of its oil from Saudi Arabia. Economic relations between the two countries have great potential and are not commensurate with the warmth of political relations. Pakistan’s exports to the Kingdom are merely 1.77 % of our total exports.

They are mainly conRined to textile and food items and the share of manufactured products is very low.

Likewise, the bulk of our imports from the Kingdom consist of oil and related products. There is a great potential to further diversify bilateral trade and economic relations.

“10th session of JMC was held in Riyadh in April 2014 and then it was decided to hold the next 11th meeting of JMC in 2015, but both sides could not hold the meeting due to a

number of reasons” a well placed source at MoC told Customs Today.

A centerpiece of the bilateral economic and commercial relations is the Joint Ministerial Commission between Pakistan and Saudi Arabia.

Its Rirst session was held in 2007 and for this reason, reviving the commission became a priority for both sides in the last few years.

The 9th session of Pakistan Saudi Arabia Joint Ministerial Commission convened in Islamabad on

economic relations between the two countries have great potential and are not commensurate with the warmth of political relations. pakistan’s exports to the kingdom are merely 1.77 % of our total exports

Anf nabs 7 drug smugglers from peshawar

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PESHAWAR

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www.customsbulletin.com he Anti-Narcotics Force (ANF) Airport Team arrested a passenger, Taj Wali, a resident of Charsada, at Peshawar Airport and recovered 960 gram amphetamine concealed in his bag. The accused was to board for Taif via Doha by Qatar Airways Flight No: QR-601.

The sources told Customs Today on Monday about the raids conducted by the ANF during the last

few days against the drug trafRickers and dealers at Peshawar.

Meanwhile, the ANF Peshawar arrested another foreign bound passenger named Irfan Ullah, a resident of Peshawar, at Peshawar Airport along with 700 gram hashish concealed in his bag. He was to board for Sharjah by Shaheen Airline Flight No: NL-792. In another operation, the ANF Peshawar recovered six kg hashish from a local drug supplier named Sheraz, a resident of Peshawar. He was arrested at Industrial

Road, Hayatabad, Peshawar, while he was riding on a motorcycle. Yet in another operation, the ANF Peshawar stopped a suspected Corolla Saloon car near Ring Road Toll Plaza, Peshawar, and recovered 4.6 kg hashish during a search of the car. The person arrested was identiRied as Abdul Muhammad, a resident of Khyber Agency. In fourth operation, the ANF Peshawar captured a Toyota Corolla car near Amber Qalay Chowk, Indus Highway, Karak and recovered 2.4 kg hashish concealed in it.

September 26, 2012. The Saudi delegation on the occasion consisted of about a dozen senior officials from various ministries.

During the Joint Ministerial Commission meeting, the source said that the two countries agreed to make maximum effort to increase and expand scope of trade cooperation between private sector corporations, facilitate market access and remove tariff and nontariff barriers.

Services exports up 95 percent he export of services during February 2017 witnessed a sharp increase of 95.10 per cent to $668.33 million from $342.55 million in January 2017. The imports on the other hands witnessed a nominal increase of 5.92 per cent from $614.52 million in January 2016 to $650.92 million in February 2017. According to data released by Pakistan Bureau of Statistics (PBS) on Wednesday.

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Global Halal market reaches $2 trillion LAHORE: Provincial Minister for Livestock & Dairy Development Asif Saeed Manais on Monday said Punjab Halal Development Agency (PHDA) had been termed a step towards a developing and projecting Pakistanis Halal hub by opening new vistas for entering the global Halal market while serving the domestic consumer market.

He stated this on the occasion of the 6th International Halal Conference and Exhibition 2017.

Chairman PHDA Justice Khalil-Ur-Rehman Ramday, Dr. Hamid, International Halal Trade, Dr. Abdul Karim Bhatti from Pakistan Poultry and Livestock, Haji Abdul Malik Kassian, Minister for Trade and Religious Affairs Malaysia, Yasin Zulfiqar Oglu Turkey were also present.

Friday April 14, 2017

Business

pakistan to strengthen ties with Belarus ISLAMABAD

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resident Mamnoon Hussain has said that Pakistan regarded Belarus as an important country of the region and was keen to further bilateral relations in various sectors to the mutual beneRit of both countries.

Talking to Chairman of the House of Representatives of the National Assembly of Belarus Vladimir Andreichenko, the President also welcomed the desire of Belarus to join China-Pakistan Economic Corridor (CPEC) project and hoped that it would quicken the pace of development in the region.

TDAp assures pcMeA of support LAHORE

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he Trade Development Authority of Pakistan (TDAP) would provide allout assistance to Pakistan Carpet Manufacturers and Exporters Association (PCMEA) to promote the carpet industry at the national and international level.

Mian Riaz Ahmed, director general of TDAP Lahore, expressed these views while addressing the members of PCMEA during a meeting at PCMEA. He said that with the feedback of associations TDAP would try to evolve a strategy to find an amicable solution to their problems.

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The President appreciated the efforts of political leadership of Belarus to promote bilateral relations with Pakistan and hoped that the anticipated visit of the Prime Minister of

Pakistan to Belarus in August this year would be instrumental in furthering bilateral ties between the two countries. He said positive developments on economic and political fronts be-

tween the two countries had provided solid basis to bilateral cooperation, adding that regular exchange of highlevel visits and parliamentary delegations was reRlective of growing partnership between Pakistan and Belarus. He underlined that there was a scope for mutual cooperation in agriculture, pharmaceutical, manufacturing of light machinery, oil and gas sectors between the two countries. President Mamnoon Hussain stated that Pakistan greatly valued Belarusian support for its membership of Nuclear Suppliers Group (NSG). He noted that mutual collaboration between the two countries at international level was of great signiRicance and expressed gratitude on support of Belarus to Pakistani candidate for seat at Council of Administration of Universal Postal Union (UPU).

overseas pakistanis workers remit $14 billion in first 9 months of fY17 T

KARACHI

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he Overseas Pakistani workers have remitted $14,057.67 million in Rirst nine months-July to March, of the Riscal year 2017-FY17, compared with $14,387.79 million received during the same period in the preceding year.

A statement issued here on Monday by the State Bank of Pakistan (SBP) said that during March 2017, the inflow of workers’ remittances amounted to $1,694.37

million, which is 19.58% higher than February 2017 and 1% less than March 2016.

It said that the country wise details for the month of March 2017 show that inRlows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $504.6 million, $363.24 million, $213.29 million, $209.14 million, $197.21 million and $38.85 million respectively compared with the inRlow of $514.8 million, $396.35 million, $202.73 million, $202.37 million, $212.47 million and $26.61

million respectively in March 2016.

Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during March 2017 amounted to $168.04 million together as against $155.82 million received in March 2016, the SBP statement further pointed out.

Meanwhile, Rehabilitation of power plants in the country can increase its power generation capacity by 100% without any additional cost, said Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF) In a press statement issued on Monday.

wapda launches 8 projects to generate 10,000 Mw LAHORE

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he Water and Power Development Authority (WAPDA) is implementing eight mega projects on a fast track basis with cumulative power generation capacity of more than 10,000 megawatt (MW) and gross water storage capacity of 10.6 million acre feet (MAF).

Once completed, these projects will go a long way in meeting the increasing need for water and electricity in the country. WAPDA Chairman Lt Gen (r) Muzammil Hussain expressed these views at a consultative seminar at WAPDA House. The purpose of this consultative seminar was to have a valuable input of former chairmen to give a much-needed flip to ongoing efforts of WAPDA for timely completion of the projects and effective water management and hydroelectric generation. The seminar, the first of its nature in the history of WAPDA, was attended by WAPDA former chairmen Lt Gen (r) Zahid Ali Akbar, Shams-ul-Mulk, Lt Gen (r) Zulfiqar Ali Khan, Tariq Hamid, Shakil Durrani, Syed Raghib Abbas Shah and Zafar Mahmood. WAPDA former members Asif Kazi, Sardar Muhammad Tariq, Muhammad Qasim Khan and Muhammad Shoaib Iqbal also attended the seminar.

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Secp amending Sukuk regulations to facilitate issuers ISLAMABAD

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ecurities and Exchange Commission of Pakistan (SECP) is amending the 2015 Issue of Sukuk Regulations to facilitate the issuers, reducing the cost of issue and easing the regulatory burden.

In order to develop the Islamic capital market the proposed amendments include waiving mandatory

underwriting where the purpose of the issue is to repay its existing debts, reducing the minimum number of underwriters from two to one, specifying the Rit and proper standards for a Sharia Advisor and essential elements of a Sharia pronouncement,said in statement issued by SECP here on Monday.

In amendments also included disclosing expenses speciRic to Sharia compliance and audit, emphasizing issuance of sukuk using

the SPV structure, and aligning the deRinition of sukuk with the deRinition given by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

These amendments were initiated by the SECP following the discussion in the Islamic Capital Market Subcommittee, chaired by Zafar Hijazi, SECP Chairman.

This committee, together with three other committees on awareness, policy making, and taxation, is

working on developing Islamic Rinance in Pakistan. Based on the recommendation of the Islamic Capital Market Subcommittee, the SECP organized a detailed consultation session with Sukuk issuers and intermediaries, leading to these amendments. Representatives of State Bank of Pakistan (SBP) and Pakistan Stock Exchange (PSX) also participated in this discussion session, which was held in Karachi in February 2017. The SECP has also

advised PSX to submit proposals to reduce the cost of market maker for sukuk, rationalize the minimum size of public offer portion to reduce the cost of issue, and organize a seminar with potential issuers to widen awareness regarding sukuk.

These measures shall further facilities the issuers, reducing their cost and hassle. In Pakistan, sukuk market has been performing below its potential, while demand is substantial, supply remains short.

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KARACHI

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he Federal Board of Revenue (FBR) had exempted Sindh Employees Social Security Institution (SESSI) from the tax net.

According to the details, the Commissioner SESSI Mohammad Farooq Leghari finally got exempted the SESSI from the tax net of FBR due to his efforts for two years.

SESSI is a service oriented organization.

The function of the institution is unique in nature for the welfare of labour class. It aims at providing medical care facilities and cash benefits to the secured workers and their dependents The FBR had exempted SESSI from every sort of tax and had also allotted it a free-tax number. Now, the institute could save millions of rupees in respect of taxes.

It is pertinent to mention here that the SESSI is an independent and unique organization in the province and working for the welfare of the labourers.

The institute spent approximately 70 per cent of its share on the welfare of its registered workers and labourers.

The institute had established in 1967 and since that it had paid millions of rupees in respect of taxes. It had also requested the federal finance minister and FBR to return back paid taxes.

Meanwhile, Chairman Federal Board of Rev-

Friday, April 14, 2017

enue Dr Mohammad Irshad halted the transfer of Grade-20 officer of Pakistan Customs Group Services Director Directorate General, Post Clearance Audit Headquarters Islamabad, Dr. Kamal Azhar Minhas posted as Director at the Directorate General of Input and Output Co-Efficient Organization (IOCO) Karachi through a notification No. 0715-C-1/2017 for the time being. It is expected that Dr Kamal’s transfer and posting order may be

canceled today.

The Chairman FBR had given the officer personal hearing during which Dr. Kamal Azhar presented his point of view before the Chairman Federal Board of Revenue.

During the hearing, Dr Kamal informed him that he has unearthed a scam of Prime Movers which caused billion of rupees loss to the exchequer in terms of duty and taxes.

He is facing pressure from some quarters to leave the cases or transfer these to Lahore Directorate of Post Clearance Audit.

Chairman Federal Board of Revenue has directed the Director Post Clearance Audit Dr. Kamal Azhar Minhas to take stern action against companies involved in Rinancial fraud, smuggling and mis-declaration and follow the cases against companies in the special customs court. He has also instructed the board ofRicials concerned to extend full cooperation to Dr. Kamal in this regard. It is pertinent to menr e p 0 ly 7 e tion here that Director Post t a xim its Clearance Audit Dr. Kamal a p p ro f t o n e e r lfa e sp e t had been transferred to w u t i e t s th he Th e i n ers. T Karachi but he refused to r a re o n u h s o s b t fi ce d la n n i leave the charge. He had res a s d r cent o an ke 1967 quested chairman for givd wor n e i r e d t e s n re g i ees i ing him personal hearing. ablish of rup ad est s h n o e According to the sources, i t l l u i t i m t s in paid the chairman has asked Dr. axes t had that i c t of t Kamal that no concession re s p e should be given to anyone involved in the scam.

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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

iMf’s concern over trade deficit

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uring their recent meeting with the Pakistani negotiating team, officials of the International Monetary Fund have expressed concerns over the widening fiscal deficit of the country and advised the government to create export surplus. Question is who is the IMF to advise the sovereign government of Pakistan to do this and that? This is the case. When you ask for money for everything, you will have to be answerable for everything. The exports are falling and trade deficit are on the rise. On another note, the energy crisis persists as were at the time the Pakistan Muslim LeagueNawaz took over the rein of the country four years ago. Load shedding and load management still haunt the industrial sector as well as the domestic consumers. The nosediving exports graph has been widening the trade deficit and the government is far from taking any practical step to strengthen the power distribution system. If electricity generation is less than the requirement, the line losses are adding insult to injury. The officials in the water and power development authority are still unclear how many units are produced how much are lost under the head of line losses. The corrupt elements are freely using the national resources and the genuine taxpayers and simpleton domestic consumers are made to pay the exorbitant bills. In the tax collection domain, only less than one million pay taxes in a country of over 200 million and half of the taxpayers are from the salaried classes. The road and streets are narrowing with every passing day with new cars and business centers are infested with branded stores, but tax collection still could not be picked up. The salaried class is obliged to pay taxes and the genuine taxpayers are often forced to pay extra taxes. The policymakers should revisit their steps and revised their policies to identify the reasons as to how people are shy of coming into the tax net. The IMF has every right to dictate and sometime it is blessing in disguise as it pinpoints problem areas in the national economy. According to the Mission of the fund, in the absence of any timely step,Pakistan’s current account deficit could reach 2.9 percent of its gross domestic product during the current fiscal year.The IMF warning came at a time when finance minister himself admitted that revenue collection has been facing Rs100 billion shortfall due several unavoidable reasons.

Banking sector demands T

LAHORE

Dr AfTAB AfZAL

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he corporate tax rate is around 30 percent in Pakistan on net taxable income of a company. At least 15 percent tax is charged on the gross amount of royalties or under the head of technical service fees for non-residents and 30 percent for t he payments under presumptive tax regime.

Every new federal budget brings a string of news steps, reshuffling the tax rates and tax regime without any improvement in whole system at the end. The system is there in the same fashion with calls from every side to overhaul the tax

machinery. The government always puts emphasis on enhancing the tax net but tax rate is increased instead every now and then. This provokes another debate in the business circles as tax authorities and tax evaders start play hide and seek. The genuine taxpayers are the victims. The international donor agencies have been calling for structural reforms in the tax collections system. The term itself is a vague as the donors want to use taxes as a tool to ensure recovery of their loans through steady installments. However, unnecessary taxes could spoil the broth.

The new federal budget is under preparation and the Pakistan Banks’ Association has

submitted a request with Federal Board of Revenue to reduce the rate of their tax to 30 percent for the fiscal year 2017-18 in line with the corporate sector. Earlier, the government had imposed flat rate of tax on the income of banking companies which the banking sector claimed entailed negative impacts on their valuation and market capitalisation. The capital gain on listed securities for banking companies is taxed at 12.5 percent in case the holding period exceeds one year and at 35 percent if the holding period is less than a year. The government had levied advance tax of 0.6 percent on banking transfers and instruments of Rs50,000 for non-filers which

adversely affected the whole industry. In contrast, the government reduced income tax rates for business income of corporate sector from 35 percent to 34 percent for tax year 2014 and further to 30 percent for the tax year 2018. The banking sector demands the same concession. What urgent need to do is to simplify the procedure of tax filing. The payment of taxes should be as easy as payment of utility bills. There is also need to slash number of taxes as well as the rate of taxes. But enhancement of tax net is the crucial area which needs a procedural change in the tax system. Only issuing a decree by the government to do this or that will not serve any purpose.

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Bury wheat remains to enrich soil, says CCRI director MULTAN: Director, Central Cotton Research Institute (CCRI) Multan Dr. Zahid Mahmood advised farmers not to burn the post-harvest remains of wheat crop.

In a statement issued here Wednesday, Dr. Zahid explained that burning remains of wheat crop would also kill the germs that are useful for the soil. However, burying it in soil after the machine harvest would improve the quantity of organic material in the soil.

To bury the sticks left by wheat crop after the harvest, farmers should apply Disc Harrow instead of Rotovator. Farmers should remember that they should spread the remains (sticks) in the form of smaller heaps on the field in a uniform pattern after the machine harvest and then apply the Disc Harrow. Later, farmers should apply half or full bag of Urea per acre and then apply water.

clean environment can ensure secure life, economy: Zakia LAHORE

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rovincial Minister for Population Welfare and Environment Protection Begum Zakia Shahnawaz has said the government is taking all-out measures to comply with the international environmental standards, rules and regulations as it could give immense benefits to the economy besides controlling huge number of demises caused by the pollution. She was speaking at a seminar on “Environment of Success-Not Cost but Opportunity”jointly organized by the Lahore Chamber of Commerce & Industry, Punjab Environment

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Protection Department, Punjab Environment Protection Department and World Wildlife Fund, here at the Lahore Chamber.

“We don’t want to tease you, we want to take business community on board with due honor and respect to evolve a joint strategy to cope with the environmental challenges”, Provincial Minister said. She said the compliance to environmental standards is a prerequisite to do business with the developed world therefore the Environment Department is working tirelessly to educate the business community on these standards. She said the compliance with the environmental rules and regulations and standards would help enhance exports and alleviate poverty therefore we should join hands to achieve this goal. The minister said unchecked discharge of untreated waste water into waterways could be a cause of pollution to canals and rivers, which could result in increase in diseases like cancer and hepatitis.

Zakia Shahnawaz said the environmental issues were of prime importance therefore the industrialists, particularly the exportoriented industry, should tackle them on priority. She said the Punjab government would extend every possible help to the industrial sector in this regard.

Friday April 14, 2017

Chambers

pakistan can benefit from Belgian expertise in food processing A

KARACHI

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mbassador of Belgium Frederick Verheyden has said that Belgian Companies can assist Pakistani Business and Industrial community in numerous sectors of the economy, particularly the food processing and pharmaceutical sectors in which Pakistan can beneRit from Belgian expertise.

Speaking at the inauguration of Belgian Companies’ Catalogue Exhibition at Karachi Chamber of Commerce and Industry on Thursday, the Ambassador added that some Belgian companies were successfully doing business in Pakistan, of which a Belgian pharmaceutical company was doing good business.

Plenty of opportunities were also available in other sectors for Belgian businessmen and investors particularly in Karachi city, he added. President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Trade Commissioner of Belgian Embassy Abid Husain and KCCI Managing Committee members were also

present on the occasion.

Frederick Verheyden further said that Pakistan-Belgian trade and economic ties have been gradually improving and were likely to exceed further in future.

Terming Karachi as ‘a vibrant city’, Belgian ambassador said that this was an important city which offers ample opportunities to Belgian investors who were keen to enhance TRADE AND INVESTMENT in this region. He underscored the need to

identify more areas for cooperation and also introduce more tradable items to enhance mutual trade volume. Commenting on Belgian companies catalogue exhibition which displayed more than 100 catalogues of industrial equipment, alternate energy, solar energy, chemicals, food stuff and agriculture sectors etc., the envoy said that this was the best way to introduce the diverse Belgian businesses as they don’t need to come all the way to Pakistan to in-

icci signs Mou with cairo chamber to promote bilateral trade

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ISLAMABAD

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slamabad Chamber of Commerce and Industry (ICCI) has signed a Protocol of Cooperation with Cairo Chamber of Commerce (CCC) to further improve bilateral trade and economic relations between Pakistan and Egypt. Khalid Iqbal Malik, President, Islamabad Chamber of Commerce & Industry and Tarek El Sallab, Second Vice Chairman, Cairo Chamber of Commerce signed the protocol of cooperation in Cairo, Egypt.

Mushtaq Ali Shah, Ambassador of Pakistan to Egypt was also present at the occasion.

ICCI delegation led by Khalid

Iqbal Malik President is in Egypt these days. Founder Group Chairman Khalid Javed, Zafar Bakhtawari, Zahid Maqbool, Ch. Waheed ud Din, Naeem Siddiqui and Ms. Fatima Azeem are in the delegation.

By signing the protocol of cooperation, both chambers have agreed to work for increasing direct connectivity and business linkages between the private sectors of Pakistan and Egypt in order to explore new areas of mutual collaboration.

Both chambers would facilitate exchange of trade delegations.

President ICCI said that Pakistan and Egypt enjoyed cordial relations since long, but their bilateral trade was not up to the real potential. He stressed that Pak-

istan and Egypt should focus on further improving bilateral trade as they have good potential to trade with each other in many areas. He hoped that the protocol of cooperation would help in achieving these goals.

Tarek El Sallab, Second Vice Chairman, Cairo Chamber of Commerce said that the protocol of cooperation would help in providing Pakistani and Egyptian businessmen with all information about the two markets and available investment opportunities in various sectors of both countries.

Cairo Chamber of Commerce (CCC) established in Egypt in 1913, representing more than 500 thousand members in 60 different commercial branches and more than 400 employees.

troduce their products and services.

“It is encouraging to see that this exhibition has triggered a lot of attention at KCCI”, said Frederick Verheyden. To a query regarding Pakistan’s business climate and government policies, Belgian Ambassador said that Pakistani government was working hard to deal with corruption and has also been taking steps for ease of doing business. “I hope this continues as it will improve the business climate here”, he added.

3 cases referred for mediation to Lcci hree disputes have been referred to the Lahore Chamber of Commerce & Industry for mediation by the Lahore High Court. One has been resolved amicably in only two hours while other two are under process.

This is a giant leap would help reduce burden of non-traditional cases from the honorable judiciary besides saving precisions time and capital of the business community.

This was revealed by the LCCI President Abdul Basit while addressing a Press Conference here at the Lahore Chamber of Commerce & Industry. The LCCI Senior Vice President Amjad Ali Jawa, Vice President Muhammad Nasir Hameed Khan, former President Engineer Sohail Lashari and Barrister Zafar Kalanori spoke on the occasion. –CB Report

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Senior Preventive officer Jamshed to retire on June 12 Friday April 14, 2017

National Sanaullah assumes charge as Addl commissioner-ir ISLAMABAD

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ISLAMABAD: Rana Jamshed Ali, a Pakistan Customs Service officer of BS-16, is going to retire from the government service on attaining the age of superannuation.

The officer, presently posted as Senior Preventive Officer at Model Customs Collectorate of Preventive, Karachi, will stand retired from the government service on June 12.

fBr appoints Dr Baig as Member of ADr committee D

ISLAMABAD

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anaullah Nawazani, a BS-19 officer of Inland Revenue Service, has assumed the charge as Additional Commissioner-IR, Corporate Regional Tax Office, Karachi. The officer, in pursuance of Board’s Notification No. 0981-IR-I/2017, dated 22.03.2017, relinquished the charge of the post of Additional Commissioner-IR, Regional Tax Office-III, Karachi with effect from March 24.

Meanwhile, Ali Raza Khan, an Inland Revenue Service officer, has assumed the charge as Deputy Director of Directorate of Internal Audit on promotion to BS-18.

Ali Raza, pursuing the Board’s Notification No.0464-IR-V/2017 dated 15-02-2017, took the charge of the post of Deputy Director-IR at Directorate of Internal Audit Rawalpindi.

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Superintendent-ir Mubarik Ali to retire on June 6 ubarik Ali, an Inland Revenue Service officer of BS17, is going to retire from the government service on attaining the age of superannuation. The officer, presently posed as Superintendent at Regional Tax Office, Faisalabad, will stand retired from the government service on June 6. Meanwhile, Malik Aman, a Pakistan Customs Service officer of BS-16, has retired from the government service on attaining the age of superannuation. The officer, presently posted as Superintendent at Model Customs Collectorate, Peshawar, stood retired from the government service. –CB Report

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r Baig, chairman of Baig Group, has been appointed as Member of Federal Board of Revenue’s Alternative Dispute Resolution Committee (ADR).

The FBR-IR Operation Wing Islamabad has appointed the leading industrialist as Member of ADR Committee for Karachi region.

As per notiRication SRO 209/2017, the ADR committees comprise of the renowned chartered accountants, tax consultants, reputable taxpayers, leading industrialists, representatives from tax bar, chambers & FPCCI to amicably resolve income tax, sales tax & federal excise issues of the business community with FBR. Dr Baig appreciated the said ini-

tiative of FBR and their consideration to appoint him on such impor-

tant committee and assured his full cooperation to facilitate business

community & FBR on its merit as per agreed mechanism.

customs seizes nDp goods worth rs11.4m C

KARACHI

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ustoms Collectorate Gwadar foiled various attempts of smuggling during the month of March. Sources told Customs Today that Collector Feroze Alam Junejo directed the anti-smuggling team to adopt zero tolerance policy towards smugglers. He also constituted various teams to curb smuggling in the region.

During the month of March Gwadar Customs team recovered 67 kilogram of fine quality charas, 200 grams of opium, a huge quantity of smuggled Iranian diesel, old tyres and tubes, Indian Gutkha, foreign origin wine bottles, smart mobile phone and other different goods.

Sources said that during these operations Customs Gwadar team also succeeded to arrest six accused persons who were found involved in these smuggling attempts. It is necessary to mention here that customs

department is already expedited their efforts to curb smuggling

and in the result of these strict measures there is marginable

decrease is being witnessed in smuggling attempts.

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Assist Commissioner-IR Mehreen granted performance allowance ISLAMABAD: Mehreen Yousaf, a BS-17 officer of Inland Revenue Service, selected through the process of Internal Job Posting (IJP), has been granted performance allowance.

The officer, presently posted as Assistant Commissioner-IR, RTO-II, Lahore, has been granted performance allowance with effect from March 30.

According to the notification, the grant of performance allowance will be governed through the terms and conditions laid down vide Circular No. C.No. 6(96)S(BIC)/2013-14 dated 06-03-2015 and will be discontinued in case prescribed terms and conditions are not fulfilled within one month from the date of issuance of this notification.

Accused mobile lady smuggler sent to lockup on physical remand KARACHI

M B rAnA

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ustoms Court Judge Syed Faiz Rasool Rashdi sent a lady accused, Samina Rafiq W/O Rafiq Ahmed, to Customs Department lockup on physical remand till April 2017. She was booked in a case of attempting to smuggle/ non-duty paid mobile phones & auto parts from Dubai into Karachi. During the hearing, investigation officer produced the abovementioned accused lady before the court and informed it that on a credible information, officials of the customs department intercepted her recovered 50 Motorola Phones, empty boxes for mobile phones Nos 25 and five kg auto parts valued of Rs550000. To a query,

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she failed to produce any lawful documents therefore accused lady was arrested and goods were seized by the Model Customs Collectorate, Customs House, Karachi. He requested the court for physical remand of the accused for further investigation, which was accepted. The court also directed the investigation officer to produce her on the next date of hearing along with a progress report. According to the prosecution, a case was registered in violation of Section 2(s) 16 and 139 of the Customs Act-1969 punishable under clauses (8) (9) & 161 of the Baggage Rules-2006 notified vide SRO666(1)/2006 dated 28/06/2006 and Import & Export (Control) Act-1950.

Meanwhile, Customs Court Judge Syed Faiz Rasool Rashdi framed charges against 18 accused booked in two cases of NATO/ISAF mega scam & evaded duty and taxes of Rs1096million and caused a big loss to the national exchequer.

National

iHc reserves verdict on tax reference filed by M/s Mobizone Limited

Sialkot excise sealed 209 commercial buildings due to tax evasion SIALKOT

ZAfAr MALik

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he special vigilance teams of the Excise and Taxation Departments have sealed as many as 209 commercial buildings due to the non-payment of their prolonged pending property taxes. According to the senior E&T officials, these 209 sealed commercial buildings were located at Gujranwala city’s congested Suigas Road, Sialkot Road, Jagna, Kutcha Fatto Mand, People’s Colony, Pasrur Road, Race Course Road Ratta Road, Popular Nursery, Chhichharwali localities and these sealed buildings were the defaulters of Rs.2.6 million of property taxes and their owners were still reluctant to clear these outstanding arrears despite the repeated warning notices issued by the E&T department, in this regard.

Meanwhile, the special teams of the Federal Investigation Agency (FIA) have arrested as many as four notorious accused human traffickers Aslam, Riasat, Basharat and Qamar Zaman from Mandi Bahaud Din and Gujranwala. According to the Khalid Anees( Divisional Deputy Director FIA), the accused were sending the innocent people abroad illegally after getting big amounts from them by showing them the golden dreams of their lucid future in abroad.

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ISLAMABAD

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slamabad High Court on Tuesday reserved decision on a tax matter Riled by M/s Mobizone Pakistan Private Limited. The company had Riled a federal excise duty reference.

IHC bench comprising Justice Athar Minallah and Justice Mohsin Akhtar Kiyani reserved decision after hearing arguments from sides.

This matter was Riled by M/s Mobizone Pakistan Private Limited.

M/s Mobizone Pakistan Private Limited had challenged a recovery claim made by Rield ofRice of Federal Board of Revenue (FBR).

M/s Mobizone Pakistan Private Limited had Riled the reference in which the company had challenged a show cause notice issued by the Large Taxpayers Unit, Islamabad.

M/s Mobizone Pakistan Private Limited had prayed the court that FBR ofRice had issued a recovery notice to the company which did not hold lawful grounds.

The appellant had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings.

Friday April 14, 2017

M/s Mobizone Pakistan Private Limited submitted before the court that the impugned order was issued under malaRide intentions and had no legal standing or authority and the court may decide on relief which it deemed appropriate in this regard. It also stated that due legal course was not followed by the department in issuing the order.

M/s Mobizone Pakistan Private

Limited had also prayed the court to decide the case early as the appellant had to bear Rinancial complications after the case.

M/s Mobizone Pakistan Private Limited had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not addressed grievances of the appellant.

faisalabad customs impounds vehicle & auto parts

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FAISALABAD

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he Directorate of Customs Intelligence and Investigations Field Investigation Unit (FIU) Sara-e-Muhajir has seized a non-duty-paid Hino cabin and other auto parts. The market value of the seized items is Rs07.05million involving customs duty and taxes of Rs03.00million besides impounding carrier vehicle R03.03million.

Director Rabab Sikander received a tip-off regarding the nonduty-paid trailer which was intercepted near Chowk Sarai

Mohajir, district Bhakkar. She constituted a customs team, comprising Zahid Raza Bukhari, Superintendent, Muhammad Ramzan, Muhammad Saleem and Mansoor Nasir, Intelligence Officer (IO). During the road checking, the team intercepted a trailer No: LEI-16-5896 loaded with all standard accessories.

The team asked its driver to produce documents regarding the legal possession of the items but he failed. The Customs team seized the goods and registered a case against the owner. The seizure report along with enclosures was submitted to the Adjudication Department for further

action. Meanwhile, The Customs Anti-Smuggling Organization (ASO) has confiscated 2240 kilogram of foreign origin (F/O) cardamom (Ailaichi) worth Rs01.3million involving duty and taxes of Rs188040 besides impounding a Hino truck valued Rs188040.

The ASO has seized items under Section 16,18 of the Customs Act-1969 and Section 3 of Sales Tax Act-1990 read with Section 3(1)3 of Import and Export Control Act-1950 punishable under Section 156 (1) 90 of the Customs Act. Following the instructions of Faisalabad Customs Collector Muhammad Sadiq, an ASO team,

comprising Superintendent Saeed Akhtar Joiya, Inspector Tanveer-ul-Haq, Khalid Ashraf Noor, Ali Zahid, intercepted Hino truck No: LRT-1690 near Canal Road, Kashmir Pull, Faisalabad, and recovered Zeera Brand KLP Patel (1200-kg) and a large quantity of Indian brand cardamom (1040-kg).

The team asked owner Nusrat Iqbal son of Ghulam Muhammad and Iftikhar Ahmad son of Muhammad Sadiq to produce the documents of legal import of the items but he failed to prove anything. So the customs officials confiscated the goods under customs bylaws.

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Hong Kong Feb retail sales fall 5.7% YOY Friday April 14, 2017

World

HONG KONG: A government spokesman indicated that the performance of retail sales was still constrained by a lack of growth in tourist spending despite a modest recovery in visitor arrivals in recent months.

Taking the first two months of 2017 together to neutralise the distortions by the timing of the Lunar New Year, the volume of retail sales declined by 3.6 per cent year-on-year, similar to that in the fourth quarter of 2016. Looking ahead, the performance of retail sales will depend on the recovery pace of inbound tourism as well as whether consumer sentiment will be affected by the various external uncertainties. At present, local consumer sentiment remains well underpinned by the prevailing favourable job and income conditions. The government will continue to monitor the situation closely.

BD losing Tk445.41crore due to red tape importers

DHAKA

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omplex customs formalities prevent the government from obtaining Tk445.41

ikea profits dip despite record revenue KEA last year sold around 2.5 million meatballs at its Dublin store as the firm enjoyed a record year of revenues at its Ballymun outlet. The Swedish furniture giant confirmed that it had three million visitors to its store off Dublin’s M50 in the 12 months to the end of August last year spending a record €152m. The three million visitors spent an average of €50 each at the store and the revenues of €152m or almost €3 million a week represent a 15pc increase on the revenues of €131.9m in the prior year. The three million visitors also represent an increase of 15pc on the 2.6 million that visited the store in 2015.

The revenues made from the sale of Ikea’s 2.5m traditional Swedish meatballs or “Kottbullar” in Swedish made up only a small portion of the €152 million in revenues as the public’s love affair with IKEA’s Expedit shelving unit and Lack tables continued. –CB Report

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crore revenue from a total of 4,728 cars stuck in Mongla Port.

Due to red tape importers are reluctant to obtain the release of the stranded vehicles. Sources said around 200 companies are involved in importing cars through Mongla Port. Haq’s Bay Automobiles imported the lion’s share of them.

Contacted, Managing Director of Haq’s Bay, also former president of Bangladesh Reconditioned Vehicle Importers and Dealers Association, Abdul Haque told the Dhaka Tribune that the importers can’t release import-restricted cars due to high taxation and port rent.

“Moreover, sometimes the importers do not release the cars due to lower market price.”

According to Mongla Customs House (MCH) data, of the cars, 61 were imported in 2010-12, 455 import-restricted and 4,212 under regular category. Revenue of around Tk445.41 crore also remains uncollected, according to the data. Mongla Customs Clearing and Forwarding Agents Association president Sultan Hossain Khan told Dhaka Tribune, “The cars remain stranded due to valuation complexities created by MCH ofRicials and unwillingness of the importer.” He also alleged that customs ofRicials are not business friendly and they are creating various problems to businesses.

french president eyes strong trade ties between france-Singapore

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rench President Francois Hollande, on an ofRicial visit to Singapore, expressed a desire Sunday to strengthen France’s partnership with the Southeast Asian city-state. “France considers Singapore not only for an economic partner, but also as a friendly country,” Hollande said at a state banquet, where he gave a toast in French. “In this geopolitical environment of isolation, nationalism and protectionism, we have to lead

by example and make our bilateral partnership not only strong and dynamic, but to show the way for opening conRidence in international trade,” added Hollande, making the Rirst ofRicial visit by a French president to Singapore.

The two countries signed a Joint Declaration on Strategic Partnership in 2012 to deepen cooperation in areas such as TRADE AND INVESTMENT, defense and space technology. –CB Report

Swiss current account surplus widens by $5.04b BERN

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witzerland’s fourth-quarter (Q4) current account surplus widened by 5 billion Swiss francs ($5.04 billion) year on year to 22 billion francs as surpluses in services and in trade in goods both rose, data from the Swiss National Bank showed on Friday.

The Rinancial account balance the increase in the net INTERNATIONAL INVESTMENT position resulting from cross-border investment rose by 18 billion francs, mainly due to stockpiling an extra 21 billion in reserve assets, it said.

The net international investment position increased by 83 billion francs in the fourth quarter to 4.482 trillion francs, helped by exchange rate gains on assets denominated in dollars. For 2016 as a whole the Swiss current account surplus narrowed by

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5 billion francs to 70 billion.

Meanwhile, Credit Suisse bucked the trend set by its European peers and increased bonuses by 6 percent last year despite reporting a large annual loss, as Tidjane Thiam, chief executive, pressed ahead with restructuring. The Swiss bank also revealed that the pay of its chairman Urs Rohner had risen by 23 percent to almost SFr4 million ($4m) for the 12 months up to this year’s annual shareholder meeting.

The pay rises followed a year of “signiRicant transition”, Credit Suisse said in its annual report, and reRlected a recruitment drive in targeted growth areas. Since joining Credit Suisse in July 2015 from UK insurer Prudential, Thiam has pushed to expand the Swiss bank’s businesses managing the wealth of the world’s rich, especially in fast-growing emerging economies, and has contracted its investment bank.

Credit Suisse’s annual report showed Thiam received a total pay of SFr11.9 million last year, less than the SFr13.7 million received by Sergio Ermotti, chief executive of Swiss rival UBS.

uAe economy hits sweet spot

he outlook for the UAE remains positive for 2017 as oil prices have regained some of the losses recorded in 2016, a leading real estate consultancy said. “This is expected to boost government revenue and increase spending, particularly on infrastructure and development projects. In light of this, preparations for the Expo 2020 will go ahead, with investments focused on the expansion of the metro, airport and roads network along with tourism facilities and real estate within Dubai,” Knight Frank said in an insight report on UAE industries and logistics. “Investments in these

sectors are expected to support the overall growth of the economy. However given the UAE’s position as a regional hub, we remain cautious of external challenges which may hinder economic growth,” analysts said. “Ongoing global political remained Rlat for Dubai South built stock. Uncertainties are likely to impact the performance of Rinancial markets, which in turn will dent investor sentiment and appetite.” Charles Swanson, Surveyor, UAE Industrial Leasing. “Any decision by the US Federal Reserve to further increase the interest rates will strengthen the dollar and consequently the dirham. –CB Report

Malaysia’s currency crackdown hitting speculators

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KUALA LUMPUR

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alaysia is succeeding in snuffing out currency speculation now it has to deal with the fallout. Offshore trading in ringgit nondeliverable forwards on EBS BrokerTec’s electronic platform has dropped by about 70 percent since

policy makers took steps in November to deter foreign banks from trading the contracts. Now, ofRicials are looking at easing rules on the short-selling of government debt after the crackdown saw global funds withdraw more than 35 billion ringgit ($8 billion) out of Malaysian sovereign bonds in the four months through February. “From what I’ve heard from participants, it’s probably made it harder for some offshore

investors in Malaysian debt to hedge their risk,” Jeff Ward, head of Nex Group Plc’s EBS BrokerTec Asia, said in an interview last week in Singapore, referring to the offshore NDF curbs.

“Some banks say they can hedge onshore for their clients for trade-related transactions.” Spurred by an uptick in ringgit volatility in the second half, Bank Negara Malaysia’s campaign is biting after local lenders were told not

to facilitate currency transactions related to offshore ringgit market activities. After sliding to a 19-year low in January, the ringgit has clawed back, trading near a four-month high as swings abate. One-month implied volatility on the currency fell to the lowest level since 2014 this month, while the ringgit’s 1.5 percent advance in 2017 trails gains for its peers in Thailand, India and South Korea.

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Iran, Russia to use national currencies for mutual trade

World Customs

TEHRAN: Governor of the Central Bank of Iran (CBI) Valiollah Seif said that Tehran and Moscow will use their currencies in trade exchanges between the two countries, semi-official Fars news agency reported on Thursday. “Talks have been held with the Central Bank of Russia over linking Mir payment system of Russia and Iran’s Shetab (Interbank Information Transfer Network) so that tourists can easily use ATM devises while visiting each countries,” Seif was quoted as saying. Two major banks of Russia and Iran are pursuing replacement of dollar with national currencies so that the traders will settle transactions in rial and ruble, Seif said.

Singapore icA nabs Malay driver over smuggling 11 puppies leven puppies were found in the modified fuel tank of a Malaysiaregistered car at Woodlands Checkpoint. Immigration and Checkpoints Authority (ICA) officers found the puppies at about 9pm on Thursday, after they directed the car, driven by a lone 43-year-old Malaysian, for further checks upon arrival, according to a joint news statement by ICA and the AgriFood and Veterinary Authority (AVA) yesterday. The driver, puppies and car have been referred to AVA. Investigations are ongoing. It is illegal to import animals or live birds into Singapore without an AVA permit. Smuggled animals might introduce exotic diseases such as rabies into the country, said AVA. The maximum penalty for such animal smuggling is a $10,000 fine and/or imprisonment of up to a year. The public can refer to AVA’s website or download its mobile app, SG TravelKaki (available free from iTunes and the Google Play Store), for more information on bringing back animals from overseas. –CB Report

Taiwanese teenagers nabbed for smuggling drugs to nZ

ometimes identifying and dating an antique seems easy, but it fools you. An unusual wall clock was offered at a recent auction. It was labeled “Friesland wall clock with automata, 1800.” Friesland is a section of Holland where people have been making clocks since the 1600s. Automata, of course, are the moving figures in this case, boats that are included below the clock dial for decoration and amusement. There was a moving scene with a woman milking a cow, a fisherman with a fish and three ships with sails. The clock also struck at an hour and half-hour. The clock case has windows that show the moving pendulum. Add to that the decoration of the case and dial, painted-iron Roman numerals, pierced brass hands and mahogany marquetry trim on the wooden case and hood. –CB Report

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russia unexpectedly cuts key rate amid drop in inflation he Central Bank of Russia has cut interest rates and signalled that further rate cuts lie ahead. Bank of Russia Chairwoman Elvira Nabiullina claimed that interest rates would continue to fall steadily. policymakers at the Bank of Russia unanimously voted to cut interest rates amid a faster-than-expected drop in inflation. The decision lowered the key interest rate by 0.25 percent, from 10 percent to 9.75 percent.

After a period of soaring inflation in Russia, prices appear to have stabilised at a more manageable level. Last month, inflation dropped to just 4.6 percent after a peak of 17 percent seen just over two years ago. Crucially, these latest numbers bring the bank’s target of four percent into sight. According to a statement from the bank of Russia: “The inflation slowdown is overshooting the forecast, inflation expectations continue to decline and economic activity is recovering.” Furthermore, rate decreases could continue over the coming months. The statement said that the bank sees “the possibility of cutting the key rate gradually in the coming second and third quarters”. Bank of Russia Chairwoman Elvira Nabiullina emphasised that rate cuts were a “trend”, and further elaborated that policymakers would lower the main interest rate “gradually, possibly with a few pauses and while retaining a moderately tight monetary policy”. –CB Report

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Dutch clock sells for $3,444 at auction

Friday April 14, 2017

TAIPEI

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wo Taiwanese teenagers were caught red handed by police at Taoyuan International Airport last Sunday for smuggling amphetamines worth NT$60 million (US$1.98 million) to New Zealand during the second day of Taiwan’s Tomb-Sweeping Day which runs from April 1-4, 2017.

This is the first reported case

of Taiwanese high school students involved in global drug trafficking operations.

The 16-year-old student surnamed Chen, and his 19-year-old companion surnamed Hu are still high school students, and were heading for Auckland, New Zealand.

The Aviation Police Bureau at Taoyuan Int’l Airport conRiscate drugs smuggled by the two high school students to New Zealand.

(CNA) Police found in total 6.83 kilograms (kg) of amphetamines packed in 11 bags hidden in their luggage compartments, the two boys were

carrying respectively 3.39 kg and 3.44 kg of amphetamines.

The Aviation Police Bureau (APB) noted the teenagers were smuggling the drugs in a very “public” manner in luggage, a strong contrast from experienced drug smugglers who normally conceal narcotics by tying it around their waist or thighs.

Police suspect the teenagers might have been targeted by criminal gangs through online social media and tricked into delivering the narcotics, without realizing the content they were shipping or the severity of drug smuggling crimes.

kSA on road to implementing customs transit system

A RIYADH

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workshop held in the Saudi capital has discussed the country’s plan to adopt a global customs transit system. A delegation from the International Road Transport Union (IRU) attended the workshop, which was held in Riyadh and hosted by the Saudi Customs.

“The workshop was held in connection with the decision of the Kingdom to accede to and implement the

global transit system for moving goods across regional and international borders expected in 2017,” Rani Wehbe, IRU senior adviser for the Middle East, told Arab News by phone from Beirut on Friday. Wehbe also said that Umberto de Pretto, secretary-general, led the IRU delegation that visited the Kingdom and attended the workshop.

Wehbe was also with the delegation.

Present in 100 countries, the IRU leads solutions to help the world move better, supporting trade, economic growth, job safety, the envi-

ronment and communities.

De Pretto said in a statement that the “workshop demonstrates the seriousness with which the Saudi Customs approaches accession to TIR.” TIR, which stands for Transport Internationaux Routier, is the world’s only global customs transit system.

He added that the IRU is highly motivated to facilitate knowledge-sharing and to help generate a clear understanding of the TIR system. He also said that “our aim is to communicate its simplicity, efRicacy and compelling capability to transform the region’s

trade potential.” The statement also quoted Saudi Customs Director General Ahmed Al-Hakbani as saying that the Kingdom is one of the most important transit countries in the region and conRirmed the decision to begin TIR implementation this year.

Wehbe said that the workshop offered insights and guidance on the application of the TIR system to improve trade facilitation. “The system is a very important tool for implementing the Trade Facilitation Agreement (TFA) which came into force in February 2017.

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Three held for receiving money fraudulently Friday April 14, 2017

Lahore

LAHORE: Federal Investigation Agency (FIA) on Tuesday arrested three accused for receiving money from a man on the pretext of sending him abroad.

According to FIA spokesman, Muhammad Pervez, a resident of Chak No 257-RB, Jhangir Khurd, received Rs 800,000 from complainant Haq Nawaz of Rashid Nagar, Faisalabad, for employment in Bahrain.

Also, two other accused—Muhammad Faisal, a resident of Abdullahpur Faisalabad, and Rizwan of Madina Town Faisalabad — received Rs 231,500 from complainant Rana Zaman of Abdullahpur for sending him to United Arab Emirate (UAE) employment.

Later on, the accused neither sent the complainants abroad nor returned their money.

Dr Ayesha lauds prA for enhanced tax collection

fTo hears M/s wajda international’s case against crTo

LAHORE

LAHORE

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SAJiD nAwAZ

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he Federal Tax Ombudsman (FTO) has adjourned the hearing of case filed by M/s Wajda International (Private) Limited against Corporate Regional Tax Office (CRTO) Lahore until the next date of hearing.

According to the details, FTO Mian Munawar Ghafoor heard the case in which the counsel for the appellant Rashid Umer argued that the Corporate Regional Tax OfRice (CRTO), had failed to release the tax refund of the last three years claimed by the company. He said that the RTO collected excessive tax from M/s Wajda International (Private) Limited Commercial Area, DHA Lahore during the last three years. He

customs i&i to hold auction of nDp vehicles on April 24th irectorate of Customs Intelligence and Investigations (I&I) will hold the auction of non-customs paid luxury cars worth millions of rupees on April 24, it is learnt. Sources told Customs Today that the luxury cars that would be put on for auction included the cars which were seized by the car cell Customs Intelligence and Investigations. The vehicles would be auctioned on April 24 in the presence of Deputy Director of Customs Intelligence and Investigations Ali Zeb Khan and others. The vehicles that included Mercedes Benz car, DGA 2003, Mercedes Benz LE 190 ICT 1997, Mercedes Benz, BoX 094 2004, Toyota Premio JK / 834 / ISD, 2004, Toyota Progress car DGA 27 1999, Honda Accord AG 2003 AGQ 064, Toyota Premio car ALK 932 KHI, BMW car, LEH 13 2317, Toyota Premio car, RU 222, 2002, BMW car, BEC 702 Sindh 2003, Toyota Crown car, BDT 798 2004, Honda Accord AQH 282, 2002 and BMW car 7451 LMZ 86. –CB Report

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approached the commissioner concerned many times for issuance of refunds but the CRTO ofRicials did not pay the refunds after the passage of reasonable time. At the end, the company decided to approach the FTO seeking interference in this case. The counsel appealed the FTO advisor to direct the CRTO to clear the refund claims. The counsel further said that CRTO should refund the excess collection in wake of taxes by the end of Rinancial year but the situation is quite otherwise. Delay in issuance of refunds put burden on the taxpayers, he said, adding that the CRTO Lahore should make audit of the cases and release the extra amount collected by it from the taxpayer. On the other hand, counsel for CRTO argued that the appellant M/s Wajda International Private Limited has not submitted all record in the ofRice on which basis it is claiming for refunds.

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rovincial Finance Minister Dr Ayesha Ghaus Pasha has said that the Punjab Revenue Authority (PRA) is the Rirst agency which is collecting tax at provincial level.

She expressed these views while addressing the MoU signing ceremony among Punjab Revenue Authority, Australian Foreign Affairs & Trade Department and Mckinsey & Company. The MoU was signed by the PRA chairman, Mckinsey & Company Managing Director Salman Ahmad and Finance Secretary Hamid Yaqoob Sheikgh. Australian High Commissioner Jurek Juszczyk was also present on the occasion.

The minister said that the PRA is collecting hundred million rupees against expenses of Rs1 million. She

Lahore ASo seizes smuggled goods worth rs 38.65 million

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ahore Model Customs Collectorate Anti-Smuggling Organization (ASO) seized various smuggled goods worth Rs38.65 million during the month of March 2017. As many as 22 cases were made pertaining to Fire Cracker, Cigarettes, LED TVs, Curtain Cloth, Soft Juice, CTP Printing Plates, tyres, Toyota Crown Car, Mitsubishi Pajero and electric motors valuing Rs38.65 million. For the ninemonth period (July-March 206-

2017) cases involving Rs144.18 million were made.

Furthermore, 12 cases valuing Rs11.02 millions were made during 1st week of April 2017.

It may be mentioned here, on the directions of the Chief Collector Central and Collector MCC Preventive Lahore, to curb the menace of smuggling in Lahore, the Anti Smuggling Organization (ASO) of MCC Preventive Lahore accelerated anti smuggling activities. –M Hayat

expressed the hope that due to technical assistance of Australian experts, the working capacity of the PRA and Finance Department will enhance and the target to be set for 2018 will be achieved easily.

She said that since the establishment of the PRA in 2012, the services and business to be included in tax net has been increasing 25 per-

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cent every year.

The minister said that in 2012, the government had been collecting tax on 14 services and 474 businesses while presently 25,542 businesses and 58 services are paying their outstanding taxes as a result of which the receipts graph has reached from Rs34 billion to Rs85 billion. –CB Report

customs court hears 17 cases

he Special Court of Customs Taxation and Anti-Smuggling on Tuesday heard 17 cases, including pre-arrest bail pleas Riled by suspects. Most of the cases were adjourned without any proceedings as the parties and lawyers concerned did not appear in the court.

Hearing of pre-arrest bail pleas Riled by accused Abdul Razaq and salman were adjourned for new dates in next week. A case against Shaukat Ali was also scheduled for hearing in which court recorded statements of the parties. Shaukat Ali is on bail nowadays. Framing of charges against Humayon Rasheed also adjourned for

next week. Final arguments and statements of the concerned parties in a case of smuggling against RaRique Ali was also scheduled for hearing which is rescheduled for next week. Meanwhile, The Special Court of Customs Taxation and Anti-Smuggling on Monday heard 17 cases, including pre-arrest bail pleas Riled by different suspects. According to the details, most of the cases were adjourned without any proceedings as the parties and lawyers concerned did not appear in the court. Hearing of pre-arrest bail pleas Riled by accused Abdul Razzaq and Salman were adjourned for new dates in next week. –M Imran Mehar

pcA detects tax evasion of rs 111,511 M/s Aziz enterprises

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irectorate of Customs Post Clarence Audit (PCA) has summoned the management of M/s Aziz Enterprises, Rock Trade Center Town Karachi in duty and tax evasion of Rs 181,876 on import of tarpaulin.

According to the details, the PCA La-

hore observed that the import clearances data against HS Code 6306.1210 effected from various Model Customs Collectorate during the calendar years.

2012 and 2013 revealed that inadmissible concession of sales tax and value added sales tax under the SRO (1125)/2011 dated 31.12.2011, wrongfully availed on the import of tarpaulin i.e. sun shedding which is speciRically excluded from that ambit

of said SRO and hence was not entitled for such beneRit under the said SRO. It has been observed that the importer had imported various consignments consisting of tarpaulin and got it cleared under PCT heading 6306.1210 with inadmissible concession under SRO 1125(I/201 1, dated 31.12.2011.

Hence, it was said that the importers have short paid an amount Rs181,876 sales tax, additional sales tax and in-

come tax due to wrongful, concession under the SRO I 125(D/2011 dated 31.12.2011. The importer was asked to pay above mentioned short paid amount of duty/ taxes within 10 days of receipt of this letter positively. The importer was told in case they do not agree with the audit observation; they may provide the written clariRication along with supporting documents as well as import documents.

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Ports association renews push for infrastructure funding WASHINGTON: The American Association of Port Authorities is calling on the Trump administration and members of Congress to advance a funding package that would address improvements to freight infrastructure. Investments in big-ticket infrastructure projects often lead to employment opportunities in the freight sector, AAPA noted March 22. “The nation’s seaports serve a vital role in U.S. job creation, economic prosperity and international competitiveness,” AAPA President and CEO Kurt Nagle said. “Deficient infrastructure affects everyone, from exporters of frozen meat and corn to manufacturers of machinery and electronics.” The association also is calling on federal policymakers to boost investments in seaport infrastructure, such as the freight programs in the five-year FAST Act highway law.

indian ports looking to raise dollar denominated loans ajor ports Jawaharlal Nehru Port Trust (JNPT, Navi Mumbai), V.O. Chidambaranar (Tuticorin), Kamarajar (Ennore), Paradip and Kandla plan to raise close to three-quarters of a billion dollars in external commercial borrowings. After raising $400 million last year, JNPT is going for another dollar-denominated loan, said Rajive Kumar, shipping secretary. While the Ennore port is looking to raise around $100 million, JNPT and Tuticorin ports require around $300 million and $230 million, respectively, for dredging work, Kumar added.

Kandla port is planning to raise $150 million. This comes at a time when dollar loans are available at a low rate as compared to recent years. In addition, dollar-denominated bor-

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rowings bear a lower interest rate as compared to those on rupee loans.

Also, it makes sense for the Indian ports to leverage their dollar-denominated receivables from vesselrelated charges such as port dues, berth hire and pilotage, which can be utilized to provide a natural hedge against the dollar-denominated long-term funding. The fundraise plans come in the wake of the Rs8 trillion investment envisaged under Sagarmala until 2035. The Sagarmala programme involves construction of new ports to harness the country’s 7,517km coastline and setting up of as many as 142 cargo terminals at major ports. According to Kumar, the ports are working on prerequisites before they can raise these loans.

“The quantum (of loan) will vary port to port,” he said. –CB Report

Ports & Shipping

port of oakland to buy $8.9 million in solar power OAKLAND

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ort of Oakland commissioners voted Thursday night to approve an $8.9 million deal to purchase solar power for the next 20 years. Under the deal, the port will buy about 11,000 megawatt hours of solar-generated electricity at $39 per megawatt hour from a solar farm in Lancaster, according to port ofRicials. The arrangement will bring in about 35 percent of the renewable energy the port needs to comply with the state’s Clean Energy and Pollution Reduction Act, a 2015 law requiring publicly owned utilities to provide 50 percent renewable energy to customers by 2030. The port manages the Oakland seaport and Oakland International airport and operates its own electric utility, which buys electricity and resells it to airport and seaport tenants at cost.

The port is also looking to purchase other types of renewable energy, in-

cluding hydroelectric, geothermal, wind and biogas, in order to be in full compliance with the law, said port spokesman Mike Zampa.

Meanwhile, Investments in port infrastructure are helping Lancashire, England prosper economically, according to port operator Peel Ports. Peel Ports, the main investor in the infrastructure, has funded projects at Heysham and Liverpool, as well at the new Bay Gateway. At the Port of Heysham, a new link-

span bridge is under construction and is expected to increase throughput by allowing larger roll-on/rolloff (ro-ro) vessels to operate within the Irish Sea. The 10 million euro investment (U.S. $10.8 million) scheduled for completion in October, will create a fourth berth for freight and passenger vessels. The Port of Heysham primarily serves ro-ro carriers in the Irish Sea and easily connects to the M6 for distribution to the United Kingdom’s mainland.

Friday April 14, 2017

new Victorian ports ceo to speak at industry event ew Victorian Ports Corporation CEO Rachel Johnson has been added to the speaker line-up for Victorian Transport Association’s (VTA) Annual Women’s Lunch. “I’m thrilled that Rachel has accepted our invitation to address this important annual event as she is one of the most prominent members of the Victorian, and national, freight and logistics industry and will no doubt have a very compelling story to share with our guests,” said Peter Anderson, CEO, VTA. Rachel Johnson, CEO, Victorian Ports Corporation.Rachel Johnson, CEO, Victorian Ports Corporation.

“Rachel is tremendously well-respected in the transport and business world, and is a tremendous example for both women and men who aspire to successful careers in the industry.

“In an industry where participation rates among women are still too low, Rachel has defied convention by advancing through senior roles in the private and the public sector. We look forward to hearing her story at our Annual Women’s Lunch.”–CB Report

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california’s ports may face political pressures T

WASHINGTON

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he Port of Long Beach will stage its 13th annual “Pulse of the Ports: Peak Season Forecast” next week, featuring a panel discussion with industry experts who will provide their thoughts and expectations for the upcoming peak season and the impact of new container alliances beginning in April. ”among other issues.” PaciRic Rim shippers will no doubt hope that this panel will also share insights on the proposed billion dollar container fee now being proposed for California’s three largest ocean cargo gateways. In its monthly “West Coast Trade Report,” the PaciRic Maritime Shipping Association (PMSA) alerts shippers to the Fact that the South Coast Air Quality Management District (SCAQMD) has proposed not one – but two – dif-

ferent container fees to be assessed on containerized imports and exports moving through Long Beach, Los Angeles, and Oakland. The fee proposals range from a low of $35 per twenty-foot equivalent unit (TEU) (which would reportedly raise $385 million per year) to upwards of $100 per TEU (which would raise $1.1 billion per year).

Which proposal the SCAQMD decides to Rinally pursue is uncertain at this point, states the PMSA. According to PMSA president, John McLaurin, the air district first pitched the $35 per TEU proposal with state legislators in late February. As part of that effort, the SCAQMD noted that the $385 million that would be collected every year would be used to “…help fund near-zero and zero emission cargo handling and drayage equipment.”

The bill proposal was silent as to whether it applied to the Port of

Oakland. “Interestingly,” notes McLaurin, “while their Sacramento efforts were underway to introduce a bill implementing the $35 per TEU fee, the SCAQMD Legislative Committee held a ‘Special Meeting’ where the Legislative Committee adopted a staff recommendation to consider a $100 per TEU con- tainer fee. The fee would be imposed at the Ports of Los Angeles, Long Beach and Oakland.”

The PMSA notes further that while the Legislative Committee does not include any information on what the $1.1 billion would be spent on, it did discuss “…the low passthrough costs on shippers from the proposed fee…” and that the funds collected would go to the “…respective air districts containing the specified ports.” Exactly how attractive ocean cargo container alliances will find California ports this year has yet to be determined,

but with shippers concerned about rate hikes and with carriers now engaged in extreme collective costcutting, the “pulse” of ports here may weaken.

Meanwhile, During the meeting, the Port Commission acknowledged Port Houston’s receipt of a Certificate of Distinction from the Government Treasurers Organization of Texas (GTOT) for its investment policy. This award is given for those policies that meet established criteria relating to ethics disclosures, conRlicts of interests, and investment training that fully comply with the Texas Public Funds Investment Act. The GTOT recognized Port Houston for its commitment to maintaining a comprehensive written investment policy. The Port Commission also recognized Port Houston for its recertiRication under the ISO 28000:2007 standard for supply chain security.

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Hyderabad FIU seizes sofa cloths valued Rs600000 HYDERABAD: The Field Investigation Unit (FIU) Hyderabad has confiscated 26 smuggled rolls of cushion sofa cloths worth Rs600000 involving duty and taxes of Rs113790 during an action in Hyderabad.

Sources told Customs Today that intelligence officials received a tip-off through Director Karachi regarding the possible smuggling of cushion sofa cloths. The officials raided a vehicle of Fazal-e-Rabi Goods Transport Company near Hala Naka Hyderabad and recovered foreign origin nonduty paid 26 rolls.

Friday, April 14, 2017

CUSTOMS BULLETIN

collector Arsalan directs to speed up efforts to collect more revenue ISLAMABAD TAriQ DerYA

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ollector Customs Collectorate Dr. Arslan Subuctageen has asked Investigation and Prosecution (I&P) department to use the Article 1694 (this article use to make seizure after seized the smuggled goods) under Customs Act 1969 so the can auction the seized goods speedily.

Collector hold meeting with ofRicers of Preventived department and asked them to gear up their efforts to collect more and more revenue, he also asked ASO and car cell staffers to made maximum seizures of Non Duty Paid vehicles and smuggled goods so the assigned revenue collection target of Rinancial year (July to June) 201617 can be achieved.

Dr. Arslan Subuctageen told Customs Today that he told the ASO staff that he has met with chairman Federal Board of Revenue, the chairman appreciated the performance of Customs department and promise that he will give the reward to ofRicers who showed good performance during Rirst three quarters of Rinancial year 2016-17 adding that the names of preventive ofRicers

against their outstanding performances has been sent to Member Customs and Member IRM for rewards.

The Collector said that ASO

staffers told him during meeting that the smugglers use the Motorway to escape and the customs have no power to stop the smug-

glers under Motorway jurisdiction, collector said that he told ASO staff that very soon he will meet with the IG Motorway re-

garding to enhance coordination between Customs and Motor way police to stop the smuggling activities through Motorway.

Tax Dept restrained from recovery of rs28.2 million KARACHI

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he Sindh High Court (SHC) restrained the Tax Department from enforcing a recovery of Rs28.2million in a constitutional petition Riled by Soorty Enterprises Pvt Ltd challenging the impugned said recovery notice issued by the Commissioner Inland Revenue, Zone-I RTO-III.

Hearing of petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, also directed them to Rile their respective para-wise comments for April 13, 2017.

During the hearing, counsel for the petitioner submitted that ofRicials of the Tax Department issued a show cause notice for recovery of Rs28.2million without showing any lawful reason therefore, being aggrieved, petitioner moved the Commissioner Inland Revenue Appeals-V and Riled an appeal along with a stay application which is pending before the CIR Appeals.

However during the pendency of

said appeal, the petitioner is being threatened by the tax department. Citing Chairman, Federal Board of Revenue (FBR), Assistant Commissioner Inland Revenue Unit-14, RTO-III Karachi, Commissioner Inland Revenue Unit-14, RTO-III and Commissioner Inland Revenue Appeals-V as respondents, petitioner pleaded with the court to kindly declare that act of the respondents is illegal, mala Ride and arbitrary.

Counsel further pleaded with the court to kindly restrain the tax authorities from taking any coercive action against the petitioner

till Rinal decision of its appeal pending before CIR Appeals.

Meanwhile, Sindh High Court (SHC) has disapproved the manner in which Steel Committee formed

by Pakistan Customs functions and examine steel items in dispute for the purpose of determining custom duty taxes and other levys. A division bench of SHC comprising Justice Munib Akhtar and Justice Arshad Hussain. The bench was hearing Afzal Awan advocate who appeared for petitioner AKK Enterprises (SMCPVT) Ltd. The consignment is lying at the port with demurrage and other expenditures

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

mounting, Afzal Awan advocate submitted. He said that committee has ruled in his favor. Kashif Nazeer advocate, counsel for respondent Pakistan Customs submitted that three members out of 5 member committee ruled against the petitioner. The bench then took on the reports of examination by members. It asked a number of questions about the sitting of the committee. As the counsel for Pakistan Customs evaded answer to the queries, the bench speciRically asked that whether all the members of the committee sit at one time, examine and make a report.