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Karachi, Wed April 5, 2017

MULTAN

IMRAN ALI

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he Customs Collectorate has exceeded its customs duty collection target by collecting Rs960.065 million against the assigned target of Rs.767.950 million during March.

According to available statistics revealed by Customs Collectorate Multan, Federal Board of Revenue has assigned huge collection target of Rs4594.950 million under the heads of customs duty, sales tax, federal excise duty and income tax for the month of March.

During March of Financial Year 2016-17, the Collectorate generated Rs.960.065 million as customs duty by exceeding 25 % collection in the month of March while it was assigned the revenue collection target of Rs767.950

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million. Multan Customs has witnessed growth in collection of customs duty due to their effective strategy and on time clearance of the import batches cleared from Multan Dry Port . The Collectorate received higher customs duty than the previous months of the Viscal year due to impressive performance of the Multan Customs. The Collectorate of the Multan Customs has collected Rs656.308 million during the corresponding period of the March 2015-16. The Customs Collectorate Multan has collected Rs2189.752 million sales taxes against the assigned target of Rs3783 million for the month of March. Multan Customs is facing revenue shortfall in the collection of sales tax due to less clearances of High Speed Diesel (HSD) and drop in the proportion of taxes from Multan Dry Port in March of economic year 2016-17.

Hyderabad ASO impounds two vehicles & goods valued Rs10m

ASO impounds vehicles & goods valued Rs39.6m in first 13 days

Qamar says NAB recruits 104 officers on merit

LHC seeks reply from FBR in Rs315.4m tax notice to Railways

DG PCA Sumaira orders stern action against five fake construction companies

The MCC ASO impounded smuggled items including two vehicles, betel nuts | See pAge 02 |

The ASO of the MCC Peshawar seized contraband goods and Non-Duty-Paid | See pAge 03 |

The NAB has recruited 104 oďŹƒcers from BS-16 to BS-18 on merit through NTS | See pAge 04 |

The LHC issued notice to the FBR in Rs315.4m outstanding tax to Pak Railways | See pAge 14 |

DGPCASumairaNazirhasrefusedtoaccept anypressureandinfluenceonthescam | See pAge 16 |

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Faisalabad intelligence customs seizes items worth Rs02.4m Wednesday, April 5, 2017

National

FAISALABAD: The Customs Intelligence and Investigation Faisalabad team confiscated miscellaneous goods worth Rs02.4million involving duty and taxes of Rs259953 during the road checking. Sources told Customs Today that Customs Intelligence team was on a routine checking near Pansara Jhang Road Faisalabad. The customs team intercepted a trailer with registration No: JU-6641. The team recovered miscellaneous items including bathroom sets, (731-kg), hotpot sets, empty plastic inner stainless steel, plastic brand of China ( 407-kg), breakfast makers (1042-kg ), electric deep fryers (136-kg), empty storage bamboos (795-kg), universal wrenches ( 570-kg), electric coffee makers (88-pcs) and other items.

hyderabad ASo impounds two vehicles & goods valued Rs10 million

FAISALABAD

HYDERABAD

NAeeM SheIkh

ASLAM ANJuM QuReShI

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he Customs Intelligence has recovered foreign origin miscellaneous auto parts worth Rs4.5million involving Customs Duty and Taxes of Rs2.8million during a crackdown. Sources informed Customs Today that Directorate of Customs Intelligence Rabab Sikander received a tip-off about some smuggling attempts. She formed a raiding team. The customs team intercepted a trailer with registration No: P- 2729 near Jhang Road Byass Faisalabad and recovered smuggled auto parts including Radiator fans with motors (1346-Pcs), AC blower with motors (2990-Pcs), Complete doors for cars (30-Pcs ), Diggi covers for Cars (37Pcs), Auto steerings for car ( 5-Pcs), Spellers with lights for cars ( 22-Pcs), Head backlights ( 60-Pcs) and other items. The customs team asked the accused, identified as Muhammad Amin son of Taj Din, a resident of Faisalabad, to produce legal documents regarding the possession of loaded goods but he failed to provide any relevant documents. The customs team seized the goods under the Customs Act-1969 and forwarded the case to the customs adjudication for further proceeding.

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he Model Customs Collectorate’s Anti-Smuggling Organization (ASO) impounded smuggled items including two vehicles, betel nuts, contraband cigarettes, Gutka, electronic goods, dinner sets and crockery, body sprays, perfumes and other goods worth Rs10million during different operations in 2017.

The ASO team, following instructions of Hyderabad Customs Collector Agha Shahid Majeed, conducted various raids in Hyderabad, Sukkur and Larkana to conViscate smuggled items under the supervision of headquarters Additional Collector Rehmatullah Vistro and ASO Additional Collector Umar ShaVique.

The ASO confiscated smuggled goods including non-duty paid two Toyota vehicles worth Rs20 weighed 780 kg of betel nuts worth Rs425000, contraband goods of smuggled brands of 3790 dandies, cigarettes valued Rs2.4million, smuggled electronic goods worth Rs1.3million, smuggled Indian Gutka of all brands 9500 sachets worth Rs 95000, foreign origin30 dinner sets/crockery priced Rs240000, 2400 pieces of imported body sprays and 742 pieces of imported perfumes valued Rs842964.

The ASO officials also confiscated smuggled items including

faisalabad customs seizes smuggled auto-parts valued Rs4.5

schoolbags geometry boxes, shoes and miscellaneous goods worth Rs2.6 during said period.

The ASO team, comprising Assistant Collector Mumtaz Ali, Assistant Collector Mumtaz Ghangro, Superintendent Ghulam Shabbir Phalphuto, Superintendent Sikander Akber Panhwar, Inspectors

Asadudin Mirza, Iqbal Mugal, Nazim Ali, Shakeel Khan, Waqar Ahmed Baig, Ahmed Ali Shah, Karamullah Hujan, Syed Zagham Ali Shah, Mushtaq Ali Lakho, Sepoyes Essa, Abid Raza, Sadiq Ali Ahmed, Drivers Nisar Ahmdani and Khan, took part in the operations.

Talking to Customs Today, Cus-

toms Additional Collector Rehmatullah Vistro said the Hyderabad Customs showed excellent performance regarding the anti-smugglings during said period.

OfVicials said all possible measures will be taken to curb smugglings in the region as vigilance has also been enhanced.

peshawar customs for implication of new prices of shoes T

PESHAWAR

IRfAN BAhADuR

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he Directorate General of Customs and Evaluation revised the prices of leather shoes in the month of March and notiVied the competent authorities of implication of new prices.

The exercise of the powers conferred under Section 25-A of the Customs Act-1969, the Customs values of men/women leather shoes

were determined.

The sources said on Wednesday that after disappointment from the stakeholders, the DG C& E notiVied the authorities concerned to apply the new customs values.

The customs values of men/women leather shoes were circulated WIDE VDB letter No: 142 dated 30.12.2016.

It was revealed that the international price in the market was higher. So to determine new customs values on them in line with

their current price in the international market, the steps were taken.

All the stakeholders were called upon the meetings by DG C & E on 27.02.2017 and 03.03.2017 respectively in which they were told to submit the invoice of imports during last three months showing factual value along with the Exporter’s website, names of known foreign manufacturers of the item in the question through which the actual current value can be ascertained.

Such stakeholders were told to

declare copies of the Sales Tax Invoices issued during the last three months showing the difference in the price (excluding duty and taxes) to substantiate that the beneVit of difference in the price is passed on to the local buyers.

The sources added that the Directorate General of Customs and Evaluation stated that no one appeared for the scheduled meetings nor were any documents received from any stakeholders who show that the importers are disinterested

in proceedings, and values were considerably higher than their declarations and by keeping themselves absent, they may have created an alibi for being unheard.

The genuine method was followed to determine customs values.

The valuation method given in Section 25 of the Customs Act-1969 was followed. Transaction value method provided in Section 25(1) was found inapplicable because the requisite information was not available as per law.

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JPCL, SECM ink MoU to procure lignite ISLAMABAD: Jamshoro Power Company Limited (JPCL) Monday signed a Memorandum of Understanding (MoU) with the Sindh Engro Coal Mining Company (SECMC) for procurement of lignite from deposits situated in Block-II of Thar Coalfield. The JPCL Chief Executive Officer (CEO) Muhammad Sabir Hanif and CEO SECMC Shamsuddin Ahmed Shaikh signed the agreement, a press release said. The agreement would help to utilize indigenous coal for power generation to fulfill the power demands in the country. The JPCL is a state-owned corporate entity which intends to build a 1,320 MW super critical coal-based power plant within the existing premises of Thermal Power Station.

Wednesday April 5, 2017

National

Dg Valuation revises customs value of baskets made of cane

ASo impounds vehicles & goods valued Rs39.6 million

KARACHI

wAQAR AhMeD ANSARI www.customsbulletin.com

he Directorate General of Customs Valuation revised the customs value of baskets made of cane through Valuation Ruling No 1102/2017 under Section 25A of the Customs Act, 1969. According to details, the Customs values of baskets made of cane were circulated vide VDB letter No.167 dated 20.01.2017. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine Customs values of baskets made of cane in line with current price trends in the international market. Stakeholders’ meeting were scheduled on 02-032017 & 14.03.2017.

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wco’s photo competition on July 07 ISLAMABAD

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he Secretary International Customs asked all the Directorates of Customs Intelligence and Customs Regions to send two photos showing customs activity to the Federal Board of Revenue for World Customs Organization (WCO) Photo Competition which is due to be held on July 07, 2017 whereas last date for submission of photos will be 1st of June 2017. The competition will be open for all the WCO members. The WCO has asked the wouldbe contestants to submit the photos like artistry, originality, situation, portrayed atmosphere and colors.

Regarding the voting procedure, the voting slips will be available in the vicinity of the photo exhibition that will be collected in a ballot box nearby. Voting will take place on 06th and 07th of July 2017.

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ISLAMABAD

tARIQ DeRYA

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he Anti-Smuggling Organization (ASO) of the Model Customs Collectorate Peshawar seized contraband goods and Non-Duty-Paid (NDP) offending vehicles (used for carrying smuggled goods) valued Rs39.6million during 13 initial days of March of Financial Year 2016-17.

According to MCC Peshawar that during 1st of March to 13th, the performance of all the customs stations including Kohat, Torkham and MCC Peshawar has been satisfactory.

During above said period, the ASO impounded 10 offending vehicles worth Rs12.00million whereas the Car Cell of the ASO impounded 12 NDP vehicles worth Rs13.5million. The ASO also seized various kinds of contraband items valued Rs14.1million.

During the Virst seven months (July to January FY16-17), the ASO seized 144.05 kilogram hashish valued Rs14.05million out of which 4.6 kilogram hashish priced Rs0.23million was seized during the month of January, according to sources.

He told Customs Today that from July to January, the ASO seized 38.7 kilogram opium worth Rs7.35million out of which 32 kilogram valued Rs6.40million was seized in the month of January. The ASO seized 12 kilogram heroin worth Rs30million during the month of January.

During the month of January, the ASO seized 48.6 kilogram of narcotics worth Rs36.63million whereas the total narcotics, seized during the Virst seven months, was 1947.05 kilogram which valued Rs51.40 million in the international market. The ASO is utilizing its maximum capacity to curb smuggling attempts across and inside the border. Sources said many development works for ASO are underway including building of separate ofVices for ASO staff so that they

During above said period, the ASo impounded 10 offending vehicles worth Rs12.00million whereas the car cell of the ASo impounded 12 NDp vehicles worth Rs13.5million. the ASo also seized various kinds of contraband items valued Rs14.1million

collector to take action against prone to mis-declaration

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KARACHI

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www.customsbulletin.com n the directives of Collector Port Qasim Saeed Akram, Deputy Collector Amjad Hussain Rajpar has formed a list of 31 importable items, which are prone to mis-declaration and tight vigilance is kept on the clearance of these goods.

Fabric, garments/shoes, wood and tiles are prone to mis-declaration and certain importers mis-de-

clare the description of these goods to evade government revenue.

These goods come in several varieties and each having a different tax/duty structure. Other such goods include used computers, machinery, plastic, rubber, paper, auto parts and yarn. It has been identiVied that many importers were mis-declaring the classiVication, origin and condition of imported goods to evade revenue. Iron & steel sheet coils, glass, lighting Vixture, toys, edible items and chemicals have also

been placed in high-risk category.

Split type air conditioners come in various capacities and types such as wall-mounted, inverter type, Vloor standing and window type etc; there is a huge difference in the value of each of these types. Importers are taking advantage of these technicalities to inVlict loss on the exchequer.

Quantity and origin is being largely mis-reported on the import of bicycle. Similarly blankets, cheese, sweet corn, canned fruits are also on the check list.

can acquit themselves well. Meanwhile, The Model Customs Collectorate (MCC) Peshawar generated Rs236.97million gross Customs Duty during 20 days (1st to 20th) in the month of March of Financial Year 2016-17. According to Fazle Samad, Additional Deputy Collector MCC Peshawar, the collectorate is facing shortfall of different revenues and taxes due to stoppage of business activity at Torkham International PakAfghan Border.

Ban lifted on cotton cultivation before April 15 unjab Agriculture Department has lifted ban on cultivation of cotton before April 15 in Punjab province.

A spokesman of Punjab Agriculture Department Multan Chaudhri Asmat Naveed Kahloon said this ban was imposed for the purpose of saving cotton crop from pink boll worm. He said Punjab government had fixed the target of sowing cotton of six million acres while the target of production of cotton.

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Business people asked to invest in dairy, livestock sectors SIALKOT: Experts Saturday urged the business people, industrialists and exporters to divert their business activities towards dairy and livestock development sectors in the district.

They were addressing the participants in a day-long awareness raising seminar, held at the Sialkot Chamber of Commerce and Industry (SCCI), here.

SCCI President Majid Raza Bhutta presided over the seminar. A large number of dairy and livestock farmers, breeders and representatives of Sialkot’s trade bodies attended the seminar.

Wednesday April 5, 2017

Business

Qamar says NAB recruits 104 officers on merit ISLAMABAD

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he National Accountability Bureau has recruited 104 ofVicers from BS-16 to BS-18 on merit through National Testing Services (NTS) and not a single appointment has been challenged by any candidate at any legal forum.

NAB Chairman Qamar Zaman Chaudhry said the bureau has promoted 137 officers on merit and seniority during the tenure of present management. NAB has also established Internal Accountability System within the Bureau to weed out inefficient officers. NAB initiated action against 83 officers. Out

four new NBp branches to collect taxes KARACHI

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of 83 officers, 34 officers were given minor penalties while 23 officers were dismissed from service on the basis of misconduct.

Eradication of corruption is top

govt eying to further reduce fiscal deficit to 3.5 % of gDp by 2018-19

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our new branches of the National Bank of Pakistan (NBP) will now collect taxes for the Sindh Excise and Taxation & Narcotics Control (ET & NC) Department in Karachi. The decision has been taken on the directives of Sindh Minister for Excise and Taxation Mukesh Kumar Chawla. A total of 14 NBP branches are now authorised to collect taxes for the ET & NC Department, according to a statement. These new NBP branches are situated at Clifton Block-2, Nadir House I.I. Chundrigar Road, Gulshane- Hadeed and North Karachi.

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priority of NAB and the corruption watchdog has adopted Zero Tolerance Policy to wipe out corruption across the board. To eradicate corruption from the country, he said

that NAB during the tenure of the present management, has Viled corruption references in respective accountability courts against corrupt persons and recovered Rs45 billion in only two and half years which is a remarkable achievement of NAB. He said that NAB during the last 16 years has received about 3,38,499 complaints from individuals and private and public organisations which all were processed as per law. During this period, NAB authorized 11,442 complaint veriVications, 7528 inquiries, 3810 investigations, Viled 2761 corruption references in respective accountability courts and overall conviction ratio is about 76 percent. NAB has recovered Rs287.415 billion from corrupt and deposited in the national exchequer.

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ISLAMABAD

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he government’s concerted efforts have helped in bringing down Viscal deVicit which would be further reduced to 3.5 percent of Gross Domestic Product (GDP) by 2018-19. The concerned authorities have set 3.8 percent Viscal deVicit target for current year 2016-17 which will be further brought down. Fiscal consolidation remains on track as Viscal deVicit continued to fall for fourth year in a

row. The Viscal deVicit was contained at 8.2 percent in 2012-13 (down from a projected 8.8 percent).

Fiscal deficit was reduced significantly in 2013-14 and recorded at 5.5 percent of GDP (lower than its budgeted target of 6.6 percent) and recorded at 5.3 percent of GDP in 2014-15. Fiscal deficit was reduced further at 4.6 percent of GDP during 2015-16 supplemented by enhanced revenue mobilization and rationalization of non-development expenditure.

Enumerating the main steps taken by government to reduce de-

pendence upon foreign and domestic loans, sources at Finance Division on Saturday said it might not be out of place to mention that borrowing both domestic and foreign is undertaken to meet fiscal deficit as can be seen from above, there has been a dramatic decrease in fiscal deficit as a result of which borrowing requirement have also been slashed as percentage of GDP. Furthermore, the sources said by increasing domestic revenues, the dependence on loans is reduced as fiscal gap is narrowed.

pak officials complete uSDA agri export training ISLAMABAD

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early thirty Pakistani government officials and agricultural industry representatives completed a six-year US Department of Agriculture (USDA) sponsored training program in a ceremony here Sunday.

The ceremony was presided over by David Williams, Agriculture Counselor, US Embassy Islamabad, Muhammad Tariq Khan, Deputy Director Department of Plant Protection, Karachi, and Dr. Babar Bajwa, CABI (Centre for Agriculture and Biosciences International) Director Pakistan and West Asia. The US Department of Agriculture (USDA), with support from the US Agency for International Development (USAID), has invested more than $4 million in this six-year distance learning project initiative to support the Government of Pakistan’s efforts to increase agricultural trade. The program’s goal is to strengthen Pakistan’s ability to comply with international trade rules to increase Pakistan’s commodity exports, and help Pakistan prevent the importation of harmful plant diseases and pests. Since 2011, USDA and partners, CABI and Texas A&M University, have joined forces to create a distance learning project to bolster Pakistan’s sanitary and phytosanitary (also known as SPS) skills and knowledge.

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uS entrepreneur advises pakistanis on business techniques KARACHI

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enowned American entrepreneur and speaker Rhett Power shared his advises and experiences with Pakistani audiences during his series of presentations on “Do’s and Don’ts of Starting a Business.” The American entrepreneur delivered these presentations in Islamabad, Lahore and Karachi during

the weeklong 2017 Entrepreneurship Speaker Series held by the US Embassy. During interactive workshops with students, early-stage entrepreneurs, and more experienced business owners, Power shared lessons from his personal experience as the co-founder of Wild Creations, a startup toy company that was named the 2010 Fastest Growing Business in South Carolina, and from his experience as an economic and small business development

consultant.

“Whether in the United States or Pakistan, entrepreneurs face similar challenges in Viguring out how to take an idea and turn it into a successful business,” Power said.

“As the Virst speaker in the Entrepreneurship Speaker Series sponsored by the U.S. Embassy, I had the opportunity to share my experiences with bright, energetic Pakistani entrepreneurs, and to learn from them, as well. I hope this will

encourage greater partnership between U.S. and Pakistani entrepreneurs.” Power spoke to audiences at venues including the National Incubation Center, the WECREATE Center, the Islamabad Chamber of Commerce and Industry (ICCI), The Nest, and the Lahore University of Management Sciences’ Center for Entrepreneurship.

Murtaza Zaidi, Executive Director of the Indus Entrepreneurs (TiE) Islamabad and CEO, CyberVision In-

ternational said, “Rhett Power’s talk was inspiring and enlightening one for the audience.

He delivered hard-earned, reallife lessons, emphasizing the need for knowledge, persistence and patience in an entrepreneur.”

In the coming months, the U.S. Embassy Entrepreneurship Speaker Series will sponsor additional programs to support Pakistani entrepreneurs focused on topics such as marketing, intellectual.

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Wednesday, April 5, 2017

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KARACHI

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he Collector Customs CollectoratePreventive Dr Saifuddin Junejo visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in order to listen the issues of business community regarding the Customs’ clearance.

During his visit, the President FPCCI Muhammad Zubair Tufail was informed the Collector Preventive Dr Saifuddin Junejo about the issues being faced by the businessmen.

The President FPCCI Zubair Tufail was apprised that the business community is being faced several issues regarding Customs clearance including implementation of port congestion charges, smuggling of non-duty paid items and delay in clearance of imported consignments at Air Freight Unit (AFU).

The President FPCCI Zubair Tufail was informed the Collector Preventive that the importers are paying extra charges on their imported consignments due to delay in clearance of consignments at AFU, adding that they are suffering huge monetary loss in this regard, as the customs authorities are also examining the consignments which are being came through “Green Channel”.

The President FPCCI Muhammad Zubair Tufail further put forward an issue regarding the smuggling of imported items through unfair means.

He said that the importers are not able to get their due Vinancial beneVit owing to the smuggling of running items and so that the import is being decreased adding that the local manufacturing of the

products is also being suffered.

The Collector Preventive Dr Saifuddin Junejo has listen all the issues being faced by the importers’ community and assured them that their issues would be resolved on war-footing basis.

Dr Saifuddin Junejo was also stated that the Pakistan Customs is determined to facilitate the legal trade and steps are already being taken to root out the menace of smuggling.

The businessmen was applauded the efforts being made by the Customs Department and expressed its gratitude towards the Collector Customs for pledging to resolve the issues of them.

o as als ejo w n u J ms n custo fuddi i n a a S t s r i D e e pak ate th hat th t d e t facilit o t sta d e ead y ermin re a l r a s p e is det t and s ut the trade l a ro o t o g e o l t n take ling being mugg s f o e c mena

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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

SBp’s quarterly report

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ccording to a quarterly report issued by the State Bank, the economy of Pakistan has the potential to grow up to 6 percent during the current fiscal year. The projection is based on possible recovery of the agriculture sector thanks to productive spending by the government and prediction of better produce this year. The country is facing current account deficits and low revenue collections, but work on the infrastructural and energy projects under the China Pakistan Economic Corridor could revive the economy in coming years. The remittances sent by expatriate Pakistanis are dwindling, but oil prices are still low as compared to other countries in the region. The private sector is actively engaged in the import of machinery and raw material and it is hoped that the large-scale manufacturing sector will be able to maintain the pace of its steady growth during the current fiscal year. Report also expects recovery of the textile industry during the second half of the current fiscal year in the wake of Rs180 billion export package announced by the government. However, the country is still facing electricity shortfall but the new power plants and the sustained increase in liquefied natural gas imports will help increase electricity generation. The robust construction sector will also maintain its growth rate and the service sector will achieve its growth target this year. The bank especially refers to the progress in the industrial sector, increased demand of commercial vehicles, availability of the bank credit and development of new housing schemes as positive indicators to push the growth up to 6 percent.The bank also hopes that inflation will remain low due to better performance of the agriculture sector as well as stable exchange rates in the currency market. The average Consumer Price Index inflation will remain up to 5 percent during the year and foreign exchange reserves will remain at a comfortable level.The bank expects increase in the current account deficit due to import of machinery, but foreign investment in the local industry will increase its production capacity.The State Bank is an organ of the government machinery and there is a need to establish practical coordination and liaison among all the departments concerning finance, trade, business and investment.

thar coal project T

LAHORE

DR AftAB AfZAL

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he Pakistani and Chinese firms are working on a project to produce 1.3 gigawatts electricity by using coal in Thar desert. The country has millions of tons coal deposits which could be utilized to resolve the decades old energy crisis. The industry of the country is expanding and needs 24 hour uninterrupted power supply. However, the daily blackouts have not only affected the industrial activities, but also domestic consumers.

The shortage of electricity has been seen as one of the principle reasons hindering the in-

dustrial growth. At a time when various countries of the world, including China, are curtailing their reliance on coal-fired power stations, Pakistan is shifting to the coal energy which could cause environmental hazards at the end. Media reports suggest that many countries, including Germany, are gradually switching over to the clean energy though coalfired stations still cater to the needs of their industry. Pakistan has signed $3.5 billion deal with China to build the coal power plant and is spending another $3 billion to lay down a transmission line across the country.

The current Chinese government is friendly with Pakistan

and is using its resources to develop infrastructure and energy sectors in Pakistan, but conditions could change any time in the future. According to experts, coal reserves are the natural treasure for the energy starved Pakistan as it would not only give the nation a cheap electricity generation option, but would also lower its reliance on imported petroleum and liquefied natural gas. Pakistan spends $8 billion precious foreign exchange on the import of petrol and gas annually and Thar coal reserves are enough to generate 15 giga watts electricity in 10 years. The Thar coal project is an opportunity for the Chinese companies to make healthy profits at a time

when China itself is trying to reduce its reliance on coal power.

Pakistan is fully heading towards coal energy as it has limited options in the current situation.

However, the government should also look for other resources to fulfill the energy requirements in the coming decades. The best option is the hydel power, but India has been building dams on the rivers flowing through Pakistan in violation of international treaties. The government should start diplomatic offensive to inform the world about the Indian hegemony. Environment is the biggest issue for the country and a study should also be launched to count hazards of coal power plants.

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Dubai tourism grows 12% in first 2 months 2017 DUBAI: Dubai’s tourism sector has kicked off 2017 in high gear as the Department of Tourism and Commerce Marketing (Dubai Tourism) reported a stellar 12 per cent year-on-year growth over the first two months of 2017. January and February saw Dubai welcoming just over three million visitors, nearly four times the rate of the previous year. Supported by growth in all key markets, China and Russia in particular drove the volumes and set the stage for a strong first quarter result. This period witnessed a 60 per cent growth in overnight tourists from China with January alone peaking at a dramatic 102 per cent, while attracting a total of 157,000 Chinese visitors across just the first two months. Reflecting an even more significant percentage increase, Russian visitation jumped 84 per cent over the same period last year with February delivering a massive 140 per cent volume increase to bring a total of 65,000 travellers in the first two months.

pcJccI inaugurates chinese language course in cpec hall FAISALABAD

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ang Zihai President PakistanChina Joint Chamber of Commerce and Industry (PCJCCI) formally inaugurated Chinese Language courses in CPEC Cell of the Faisalabad Chamber of Commerce and Industry (FCCI). He appreciated the efforts of the FCCI in general and specially the keen interest taken by Chairman CPEC Committee of the FCCI Engineer Ahmad Hassan and Director Research and Development M. D. Tahir, for launching Chinese Language Courses at FCCI. He said that Pak-

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istan China friendship is all weather friendship. No doubt it is higher than Himalaya and deeper than the sea but it is a hard fact that we failed to fully exploit its economic potential during the last 60 years. He said that according to his personal opinion, the main cause of it is language barrier. He said that Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) had taken a number of bold initiatives to promote Chinese language in order to bring the people and specially the business community of the two countries closer to each other. He said that PCJCCI has prepared special dictionary containing 10,000 Chinese frequently used words which will help people to directly interact and communicate with their Chinese brothers.

Earlier he visited the class of Chinese language where Mr. M. D. Tahir presented him welcome note in Chinese language which was much appreciated.

Wednesday April 5, 2017

Chambers

pakistan & china inked 46 Mous in different segments of economy I

FAISALABAD

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n new emerging economic scenario “One Belt-One Road” is a gigantic infrastructure of China to link up Asia with Europe and Africa and this project has already been successfully initiated from Pakistan, said Wang Zihai President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) Lahore.

He was addressing a meeting in Faisalabad Chamber of Commerce and Industry (FCCI) which was also attended by the business community as well as the students of Chinese language course. He said that in first phase of CPEC (China Pakistan Economic Corridor) a comprehensive road network has been laid form Khanjrab to Gwadar. In its second phase work was in progress for the erection of power plants throughout Pakistan, he added. He particularly mentioned 1320 MW coal power plant and said that with its completion the menace of load shedding will be eliminated once for all in 2018.

He said that Pakistan and China

have inked 46 MOU’s in different segments of economy while during fourth phase of this project, industrial cooperation will be enhanced.

He termed it as one of the most important segment of the CPEC project as governments as well as the private sectors of the two countries

have to play their role for its successful execution.

Responding to a question, Salah ud Din General Secretary PCJCCI told that only upper and upper middle class management from China will come to Pakistan for the execution of different projects in Pakistan.

Sialkot exporters competing with other countries in quality

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SIALKOT

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resident Sialkot Chamber of Commerce and Industry (SCCI) Majid Raza Bhutta has vowed to continue struggle for ensuring the early completion of the mega projects of establishing Sialkot exporters’ own airline “Air Sial” now (after already establishing their own Sialkot International Airport, besides, establishing an international standard Sialkot Business and Trade Center, Sialkot Tanneries Zone, Sialkot Engineering University and another Small Industrial Estate at Sialkot, enabling the small traders, exporters and venders to establish their own small industrial units there.

He stated this while addressing an

important meeting of the Sialkot based leading exporters held at the auditorium of Sialkot Chamber of Commerce and Industry (SCCI) here today. SCCI President Majid Raza Bhutta revealed that the exporters of Sialkot are the “Roaming Ambassadors of Pakistan”, who travel all around the world to fetch business and with their personal efforts, the export earnings of Sialkot stand at US $ 2 billion annually. He said that the Sialkot exporters had been earning precious foreign exchange to the tune of US $ 2 billion annual , besides, playing a pivotal role in strengthening the national economy and boosting the national exports as well. He gave a detailed brieVing on Sialkot’s unique export culture and Sialkot’s marvelous socio-economic development on self help basis

by Sialkot business community. He said that export-oriented Sialkot city has suc-

cessfully followed the examples of Japan, Germany, Korea, Taiwan and other countries in development of SME culture in Sialkot, as the Sialkot based SMEs have been producing only exportable items and enjoy special status in the international market for its products. Government and other Vinancial institutions are lending support to the export sector and we are foreseeing growth of exports and development of SMEs at a fast pace in Sialkot. SCCI President added that the Sialkot is the only export-oriented city of Pakistan, where 99 percent industrial production is meant for exports. The products including Sports Goods, Surgical Instruments, Leather Products, Textile Items, Martial Arts Uniforms & Accessories, Musical Instruments, Knives & Cutlery items and Military Uniform badges etc, produced in Sialkot.

“All the rest of the workers will be recruited from Pakistan”, he told and also gave a brief resume of the PCJCCI. He said that it has 250 members while its fold while its membership was open to all businessmen working or intending to work with the Chinese investors.

france, Switzerland inks accord on tax system to eAp rance and Switzerland have signed an international agreement on the tax system applicable to EuroAirport Basel Mulhouse Freiburg (EAP). The agreement was signed by Swiss Federal Councillor Didier Burkhalter and the French Secretary of State for European Affairs, Harlem Desir. The agreement aims to establish a long-term legal regime to ensure that the airport and its businesses remain attractive and continue to develop. Under the deal, Swiss value-added tax will be levied in the Swiss area of EAP. France and Switzerland will split the receipts from corporation tax paid by EAP, with all stakeholders taking a share. Companies in the Swiss area will pay French income tax and Swiss capital tax. –CB Report

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Ghulam Mustafa takes charge as Addl Collector in Faisalabad Wednesday April 5, 2017

National SM Ali assumes charge as I&I (enforcement) Addl Director ISLAMABAD

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ISLAMABAD: Ghulam Mustafa, a Pakistan Customs Service officer of BS-19, has taken charge of the post of Additional Collector, Model Customs Collectorate, Faisalabad.

The officer, in pursuance of Board’s Notification No.0905-C-II/2017 dated 16.03.2017, relinquished the charge of the post of Additional Director, Directorate General of Intelligence & Investigation-FBR, Islamabad with effect from March 21.

engineer Riyaz assumes charge as Addl collector (exports) at port Qasim E

ISLAMABAD

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M Ali Zaman Gardezi, a Pakistan Customs Service officer of BS-19, has assumed charge of the post of Additional Director, Directorate of Intelligence & Investigation-FBR (Customs Enforcement), Karachi. The officer, in pursuance of Board’s Notification No.0905-C-II/2017 dated 16.03.2017, relinquished the charge of the post of Additional Collector, Collectorate of Customs (Adjudication-I), Karachi with effect from March 17.

Meanwhile, Muhammad Anwar, a BS19 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR (OPS). The officer, in pursuance of Board’s Notification No. 0942-IR-I/2017, dated 20.03.2017, relinquished the charge of the post of Additional Commissioner-IR, Large Taxpayers Unit, Lahore with effect from March 24 and took the charge as Commissioner-IR (OPS) (Appeals) in Sialkot on March 27.

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Nadeem takes charge as Addil collector JIAp adeem Ahsan, a Pakistan Customs Service officer of BS-19, has taken charge as Additional Collector (JIAP) at Model Customs Collectorate (Preventive), Karachi. Nadeem, pursuing the Board’s Notification No.0905-C-II dated 16.03.2017, relinquished the charge of the post of Secretary, Federal Board of Revenue (HQ), Islamabad with effect from March 21. Meanwhile, Muhammad Saeed Asad, a Pakistan Customs Service officer of BS-19, has assumed charge as Additional Collector, Collectorate of Customs (Adjudication), Faisalabad. Muhammad Saeed, pursuing the Board’s Notification No.0905C-II/2017 dated 16.03.2017 gave up the charge of the post of Additional Collector, Model Customs Collectorate, Faisalabad with effect from March 22. –CB Report

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ngineer Riyaz Ahmed Memon, a Pakistan Customs Service ofVicer of BS-19, has assumed charge of the post of Additional Collector, Model Customs Collectorate (Exports), Port Muhammad Bin Qasim. The ofVicer, in pursuance of Board’s NotiVication No.0905-CII/2017 dated 16.03.2017, relinquished the charge of the post of Additional Collector, Collectorate of Customs (Adjudication), Quetta with effect from March 18.

Meanwhile, Ghulam Mustafa, a Pakistan Customs Service ofVicer of BS-19, has taken charge of the post of Additional Collector, Model Customs Collectorate, Faisalabad.

The ofVicer, in pursuance of Board’s NotiVication No.0905-C-

II/2017 dated 16.03.2017, relinquished the charge of the post of

Additional Director, Directorate General of Intelligence & Investiga-

tion-FBR, Islamabad with effect from March 21.

ANf arrests 7 drug smugglers from peshawar T

PESHAWAR

IRfAN BAhADuR

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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 trafVickers 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 identiVied 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. Three persons, including Umar Sharif, Abid Zaman and Sirajam Khan, all residents of Karak, were arrested.

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Three Deputy Commissioners-IR transferred ISLAMABAD: Three Inland Revenue Service officers of BS-18 have been posted in next designation in their own pay and scale. Khurram Ali Qadri has been transferred from the post of Deputy Commissioner, (IR) Large Taxpayers Unit, Lahore and posted as Additional Commissioner Inland Revenue, (OPS) Large Taxpayers Unit, Lahore. Waqas Ahmed Bajwa has been transferred from the post of Deputy Commissioner, Large Taxpayers Unit, Lahore and posted as Additional Commissioner Inland Revenue, (OPS) Large Taxpayers Unit, Lahore. Waqas Rashid Ch has been transferred from the post Deputy Commissioner, (IR) Large Taxpayers Unit, Lahore of and posted as Additional Commissioner Inland Revenue, (OPS) Large Taxpayers Unit, Lahore.

fto adjourns hearing of M/s Dyson Research Lab against cRto LAHORE

SAJID NAwAZ

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he Federal Tax Ombudsman (FTO) has adjourned the hearing of a case filed by M/s Dyson Research Laboratories Private Limited Lahore against the Corporate Regional Tax Office (CRTO), Zone-V Lahore, until the next date. FTO Mian Munawar Ghafoor heard the case in which counsel for appellant Muhammad Ali Saif Cheema argued that the Corporate Regional Tax Office (CRTO), Zone-IV, had failed to release the tax refund of the last two years claimed by the company. He said the RTO collected excessive tax from M/s Dyson Research Laboratories Pri-

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vate Limited during the last two years.

He approached the commissioner concerned many a time for issuance of refunds but the CRTO officials did not pay 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 the CRTO should refund the excess collection in the wake of taxes by the end of financial year but the situation is quite otherwise. Delay in issuance of refunds put burden on the taxpayers, he said, adding the CRTO Lahore should audit the cases and release the extra amount collected by it from the taxpayer. On the other hand, counsel for CRTO argued that appellant Jahanzaib Rauf Kahloon, M/s Capital Industries Private Limited, has not submitted all record in the office on the basis of which it is claiming refunds. If appellant provides accurate record, the CRTO will issue the refunds if any after a proper assessment.

National

Ihc seeks documents from AtIR, fBR on tax matter filed

by M/s Mobizone Limited

Akash appointed as Appraising/Valuation officer in Appraisement-west ISLAMABAD

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kash Khubchand has been appointed as Appraising/Valuation officer (BS-16) in the Model Customs Collectorate of Appraisement-West, Karachi. The appointment of the officer was made on recommendations of Federal Public Service Commission (FPSC), Islamabad vide letter No.F.482/2015-R-FS-I dated 25.11.2016 and having accepted the terms and conditions of appointment contained in the offer of appointment letter No.2(9)/2015-Cus-III dated 01.02.2017. According to the notification, his seniority will be maintained in order of merit assigned by Federal Public Service Commission (FPSC) and in accordance with the Civil Servants (Seniority) Rules, 1993. Other terms and conditions will be the same as already conveyed vide FBR letter dated 15.02.2017. The officer has been directed to join duty in the Model Customs Collectorate of Appraisement-West, Karachi immediately but not later than April 7.

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ISLAMABAD

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he Islamabad High Court (IHC) has issued directives to the Appellate Tribunal Inland Revenue and the Federal Board of Revenue (FBR) in a tax matter Viled by M/s Mobizone Pakistan (Private) Limited. The bench, comprising Justice Athar Minallah and Justice Mohsin Kiyani, issued directives on submitting relevant documents and records in a case carrying reference about federal excise duty (FED).

M/s Mobizone Pakistan had Viled the reference in which the company had challenged a show cause notice issued by the Large Taxpayers Unit, Islamabad. The appellant had challenged the act of recovery of said amount by commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad. ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty.

M/s Mobizone Pakistan Private Limited had prayed the court that FBR office had issued a recovery

Wednesday April 5, 2017

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. M/s Mobizone Pakistan Private Limited submitted before the court that the impugned order was issued under mala-Vide 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 mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not address grievances of the appellant.

Earlier the court had adjourned hearing on the matter with directions to ensure presence before the court on date of hearing.

Sindh excise impounds 116 vehicles during campaign

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KARACHI

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indh Excise and Taxation Department impounded 116 vehicles and seized documents of other 373 vehicles in an ongoing province wide campaign against motor-vehicle tax defaulters, ofVicials said here Wednesday.

The campaign launched on Monday on the directives of provincial minister for excise taxation and narcotics control, Mukesh Kumar Chawla was said to continue till March 31. Eleven inspection teams were said to have been constituted only for Karachi to nab the default-

ers and ensure that they may necessarily pay their relevant tax.

As per directives of the Minister, concerned ofVicials are also taking

action against owners and drivers of Qinqi Rickshaws, Auto Rickshaws and other vehicles plying without number plates, with fake or fancy

number plates or holding temporary registration or expired registration papers. Vehicle owners, themselves have also been reminded not to use “Personalized Number Plates” as these have already been canceled. The Excise and Taxation Minister, Mukesh Kumar Chawla has urged the local vehicles owners to deposit their tax, at any of the designated branches of National Bank of Pakistan, so as to avoid any inconvenience. Concerned ofVicials sharing data with media said during past two days 1583 vehicles were checked in Karachi, 593 in Hyderabad, 227 in Sukkur, 234 in Larkana, 285 in Mirpurkhas and 217 in Shaheed Benazirabad.

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Australia’s Suncorp to sell A$250m hybrid issue Wednesday April 5, 2017

World

SYDNEY: Australian insurer Suncorp Group plans to raise around A$250 million (S$266.77 million) of hybrid securities to strengthen its capital base, it said on Monday, with the bank hoping to tap piles of cash looking for a higher-yielding home. The offer consists of additional tier one capital, a form of capital required by financial regulators to ensure banks have sufficient reserves to avoid the need for a taxpayer-funded bailout in the event of a financial crisis.

Banks sell subordinated debt and hybrids, a mix of debt and equity, because they are cheaper to issue than shares alone. This would be the third such issue this year, following Commonwealth Bank of Australia (CBA)’s A$1.45 billion and financial institution Challenger Ltd’s A$430 million.

uS customs arrest two at Jfk on charges of heroin smuggling

uk banks make £9bn in profits in tax havens LONDON

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WASHINGTON

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couple attempting to enter John F. Kennedy International Airport last weekend were arrested for trying to smuggle heroin through customs hidden in a whiskey gift box, according to representatives for the U.S. Customs and Border Protection.

The arrest occurred Sunday, when Andres Uribe Rebolledo and Yuly Valencia Sanchez, both from Colombia, arrived at JFK Airport on a Vlight from Punta Cana, Dominican Republic. Going through Customs, CBP ofVicials examined luggage from the two, including a Marshall brand speaker and one Glenmorangie brand whiskey gift box. According to the CBP, the gift box “felt unusually heavy.” Upon being escorted to a PRIVATE ROOM, CBP ofVicers searched the speaker

Saudi bank lending growth slows to a crawl rowth in Saudi Arabian bank lending almost halted in, central bank data showed on Tuesday, with companies holding back from investment in the face of stubbornly low oil prices and concern over government austerity policies. Bank lending to the private sector showed year-on-year growth of only 0.3 percent in February, slowing from 1.8 percent in January and down sharply from the 10 percent registered a year earlier. Bankers say part of the reason for the lending slowdown is that state money is flowing more freely through the economy than it was for most of last year, when the government stopped paying many of its bills as low oil prices took a heavy toll on public coffers. The lack of government payments forced companies to draw on credit facilities for operating funds, inflating loan growth. –CB Report

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and gift box in greater detail and found a tan substance, which tested positive for heroin, the agency said.

In all, ofVicials said they found about nine pounds of heroin that the CBP estimated had a street value of more

than $250,000. The two arrested individuals are facing narcotics smuggling charges and are being prosecuted by the Special Narcotics Prosecutor’s OfVice for New York City, according to the CBP.

china telecom firm Zte removed from uS trade blacklist

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he U.S. Department of Commerce will remove Chinese telecommunications equipment maker ZTE Corp (000063.SZ) from a trade blacklist on Wednesday after the company pleaded guilty to violating sanctions on Iran and agreed to pay nearly $900 million, the agency said in a notice. Removal from the list marks the end of a tense period for ZTE, which faced trade restrictions that could have severed its ties to critical U.S. suppliers. “By ac-

knowledging the mistakes we made, taking responsibility for them … we are committed to a ZTE that is fully compliant, healthy and trustworthy,” said ZTE Chief Executive Zhao Xianming said in an emailed statement.

Last year, the U.S. Commerce Department placed export restrictions on ZTE as punishment for violating U.S. sanctions against Iran. The restrictions would have prevented restricted suppliers from providing ZTE any US. –CB Report

he 20 biggest European banks posted proVits of at least £18bn in global tax havens last year, according to a report by Oxfam. Meanwhile, the UK banks included in the report HSBC, Barclays, RBS, Lloyds and Standard Chartered reported combined proVits of £9bn in global tax havens, equivalent to 67% of their proVits. Oxfam found that £522m of the £9bn was made in six UK-linked tax havens, where they paid just 7% tax on their proVits, compared to the UK corporate tax rate of 20%.

The six UK tax havens were Bermuda, the British Virgin Islands, the Cayman Islands, and the Crown Dependencies (Guernsey, the Isle of Man and Jersey). The top 20 EU banks meanwhile made €4.9bn (£4.2bn) in proVits in Luxembourg, more than they made in the UK, Sweden and Germany com-

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bined. Oxfam argued that banks often do not pay any tax on proVits booked in tax havens and claimed that European banks did not pay a single euro in tax on €383m in proVits made in tax havens in 2015. Furthermore, some of these banks registered losses in countries where they operate. Deutsche Bank, for example, registered a loss in Germany while booking proVits of €1.897m in tax havens.

A large proportion of these proVits were made despite the banks not employing a single person in the countries concerned. At least €628m of the European banks’ proVits were made in countries where they employ nobody. The charitable organisation said the report was only possible because of the new EU transparency rules, where banks are required to publish a country-bycountry breakdown of their proVits and tax payments. Sally Copley, Oxfam’s head of UK policy and campaigns said, “Transparency is a crucial Virst step towards ending corporate tax dodging.

Iran’s annual inflation rate stands at 9%

entral Bank of Iran has announced that Iran’s inVlation rate in the previous year as compared to the earlier year stood at nine per cent. The announced Vigure indicates that Iran’s inVlation rate has been reduced to less than ten per cent for the second time in the past 26 years. Following the sing-digit inVlation rate of the year 1990, realization of the nine-percent rate in the previous year marks Iran’s second experience of a single-digit Vigure in the past 26 years.

Accordingly, Iran has once again been placed among countries who enjoy a single-digit inflation rate.

Results reveal that price index for consumer goods and services in Iran’s urban areas in the twelfth month of the previous year had reached 262.8 which was 2% higher than the figure for the earlier month. The same index was 11.9% larger than the figure in the corresponding period two years ago. As such, the inflation rate for the twelve months leading to February 19 as compared to the same period in the earlier year is calculated at nine per cent. Meanwhile, Iran posted its second trade surplus in 37 years for the past Iranian calendar year. –CB Report

Russia unexpectedly cuts key rate amid drop in inflation

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MOSCOW

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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 inVlation. The decision lowered the key interest rate by 0.25 percent, from 10 percent to 9.75 percent. After a period of soaring inVlation in Russia, prices appear to have stabilised at a more manageable level. Last month, inVlation 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 inVlation slowdown is overshooting the forecast, inVlation 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”.

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Ikea profits dip despite record revenue DUBLIN: IKEA 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.

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-yearold Malaysian, for further checks upon arrival, according to a joint news statement by ICA and the Agri-Food 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

World Customs

16 kg gold smuggled via sea from Sri Lanka

ubai Electricity and Water Authority (Dewa) entered into an agreement with Silver Spring Networks International to establish a communication platform based on IPv6 multi-applications radio frequency (RF) mesh canopy for smart grid applications, such as smart electricity, water meter and distribution automation. The new communication platform will cover the whole of Dubai including Hatta and will serve all the communication requirements for any Smart Grid Applications. The agreement includes the design, supply, installation, testing and commissioning of RF mesh canopy for smart grids. This will allow Dewa to provide secure and reliable communications for smart electricity and water systems, as well as additional services in the future. –CB Report

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Alibaba to set up regional logistics hub in Malaysia libaba Group Holding Ltd recently expanded its operations in Malaysia by opening a new logistics hub. This move signals even more investment by Chinese companies in infrastructure throughout the Asian country of Malaysia. The total amount of the investment by Alibaba is unknown yet. Alibaba founder Jack Ma worked in conjunction with the Malaysian Prime Minister Najib Razak to help establish what they are calling an integral part of their digital free trade zone.

The “hub” is projected to launch within the next 3 years and be fully operational by the beginning of 2020. The hub is designed to help streamline the process of shipping, warehousing, and fulfillment of products through customs in Malaysia and throughout the international market. Essentially making the process of importing and exporting of Asian products more competitive on a global scale. This expansion is just another part of the Ma’s goal of lower the amount of barriers to free trade between Chinese companies and the rest of the world. In conjunction with this new logistics hub is an agreement to work on collaboration between Malaysian businesses and companies either owned or in connection with Alibaba. –CB Report

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Dewa inks smart grid deal with Silver Spring

Wednesday April 5, 2017

COLOMBO

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he Directorate of Revenue Intelligence (DRI) has seized 16.32 kg of gold in Ramanathapuram on late Sunday night. The DRI teams from Thoothukudi and Coimbatore have intercepted a courier van at the coastal Devipattinam, near Ramnad on Sunday night, and seized smuggled gold bars. They have detained the van driver and taken him to Madurai after overnight stay at the

customs ofVice in Ramnathapuram.

The gold bars were believed to have been smuggled from Sri Lanka via sea and landed in Thondi coast on Sunday. Further details are awaited.

Meanwhile, Sri Lanka’s inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), increased to 8.2 percent in February 2017 from 6.5 percent in January 2017, on year-on-year basis, a statement said. “Both Food and Non-food categories contributed towards the year-on-year inflation in February 2017. The low base that prevailed in February 2016 was the significant contributor to the sharp in-

crease in year-on-year inflation in February 2017, in addition to the monthly price increase observed,” The department of census and statistics said in their statement. The change in the NCPI measured on an annual average basis increased to 5.1 per cent in February 2017 from 4.6 per cent in January 2017.

When the monthly change is considered, the NCPI increased from 119.3 index points to 119.9 index points from January 2017 to February 2017.

According to the department this monthly increase was mainly due to the increase in prices of the items in the food category.

uS oil export surge steals more opec share

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WASHINGTON

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s OPEC tries to keep oil off the world market, U.S. oil producers are pouring more onto it. The U.S. last week sent more than 1 million barrels a day of crude out of the country, the third biggest export week ever, and double the average amount exported in 2016. It is also the third time this year that U.S. exports exceeded a million barrels a day, an

industry record. “It should be somewhat supportive of [U.S. oil prices] in the short run, particularly if the exports keep up. But it obviously is a challenge for the global market and a renewed threat to OPEC and their designs of keeping prices up,” said John Kilduff of Again Capital.

While the U.S. exported oil, it also exported fuel last week — a steadily growing business. The U.S. sold 1.1 million barrels of diesel fuel, in line with the recent average, but 608,000 barrels a day of

gasoline, up from less than 400,000 barrels a day a year ago.

Analyst say the jump in exports means U.S. producers are grabbing more share at the expense of OPEC and its partners, at a time when the cartel and other producers are considering whether to extend their deal to hold 1.8 million barrels of oil off the market. But the U.S. may also be seeing the early signs of a potential rebalancing of its own supply picture, and that could ultimately help clear a logjam of domestic oil barrels. “What

we’re now seeing in the U.S. is refinery utilization increasing, as the maintenance season draws to a close. At the same time, there’s good demand for gasoline and diesel which is helping get inventories under control. Those product inventories are less than they were this time last year,” said Andrew Lipow, president of Lipow Oil Associates. U.S. refineries supplied 9.5 million barrels a day of gasoline last week, up from 9.2 million the week earlier. Refinery runs increased by 425,000 barrels a day.

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Punjab governor to inaugurate HVAC&R Expo Wednesday April 5, 2017

Lahore

LAHORE: The 24th Heating, Ventilation, Air-Conditioning and Refrigeration Expo & Conference (HVAC&R) 2017 is going to be held in the provincial metropolis from March to April 2017 bringing all the stakeholders on one platform showcasing the latest equipment development and technological advancements in the field. Punjab Governor Malik Rafique Rajwana will inaugurate this three-day event of the HVAC&R stakeholders. The Pakistan HVACR 24th Expo & Conference 2017 is a national meeting place for professionals, attracting serious buyers from all over Pakistan and countries abroad. The event provides an easy and essential route into the market for exhibitors, enabling professionals from across the industry to develop their business in a professional environment.

customs Appellate tribunal rejects appeal filed by M/s Ziarat khan

Lhc seeks reply from fBR in Rs315.4m tax notice to Railways

LAHORE

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ustoms Appellate Tribunal has dismissed the appeal Viled by Ziarat Khan against additional collector of Customs (Adjudication), and deputy director of Intelligence and Investigations, FBR Range OfVice Multan and others.

Junaid Akram, Member Technical bench-I, in the verdict declared that the impugned Order-inOriginal (ONO) does not suffer any factual or legal infirmity and the same does not call for any interference by the tribunal.

As per brief history of the case, credible information was received to the effect that a huge quantity of foreign origin smuggled old and used but serviceable auto parts

customs court adjourns hearing against Sales tax evader he Special Federal Court of Customs Taxation and Anti-Smuggling has adjourned the hearing of an accused arrested on the charge of Sales Tax evasion. Accused Wamiq Zaka was arrested by the Federal Board of Revenue, Inland Revenue, for a huge Sales Tax evasion. Sources told Customs Today that the accused was arrested after intelligence information that he is evading Sales Tax in millions of rupees. After confirming the evasion of tax, Inland Revenue got arrest warrant for the accused from the Customs Court and booked him under the Pakistan Sales Tax Act-1992. The Inland Revenue presented him before the court after the completion of the physical remand from where the customs court had sent him to jail on judicial remand. And then the court had approved his bail. –CB Report

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were lying in the godowns of the M/s Sarhad Autos.

In pursuance of search warrant, a team of directorate of Intelligence and Investigation made proper search of the premises of M/s Sarhad Autos, M/s Peshawar Autos, M/s New Kabul Autos and others.

During the searching with the help of police, used engines (LTV) and gear boxes were recovered and the owners had failed to produce documents showing legal import or lawful possession of the goods.

The recovered engine and gear boxes were seized under the section 168 of the Act, punishable under section 156(1) 89(i). After completion of requisite formalities, the matter was placed before the learned additional collector of customs (Adjudication), Faisalabd camp office Multan who passed the order in origional for confiscation of seized goods under the laws.

LAHORE

SAJID NAwAZ

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he Lahore High Court (LHC) issued notice to the Federal Board of Revenue (FBR) in Rs315.4million outstanding tax to Pakistan Railways. The LHC also seeks reply from the Federal Board of Revenue (FBR) on the next date of hearing.

Justice Aisha-A-Malik heard the appeal Viled by the Pakistan Railways against tax notice by the Federal Board of Revenue (FBR).

During the hearing, counsel for appellant argued before the court that the Pakistan Railways, a department of federal government, is paying its Income and Sales Tax liabilities regularly but the Federal Board of Revenue (FBR) has sent Rs315.4million tax recovery notice to the Railways.

He added that the Federal Board of Revenue (FBR) also warns the Pakistan Railways that if the department does not pay Rs315.4million tax liability to the FBR then the FBR will freeze the bank accounts of the railways department and draw the said amount in taxes.

The counsel for railways prayed before the court that the LHC may

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declare null and void the tax recovery notice to the railways by the Federal Board of Revenue (FBR).

After hearing the arguments, the LHC adjourns the case till 24th of March and seeks reply from the FBR in the case. The Federal Board of Revenue (FBR) will present its arguments regarding the tax notice issued to the railways department.

tax lawyers announce support to LtBA customs court hears 17 important cases he Special Court of Customs Lahore, Gujranwala, Sialkot and presidential candidate Qamar Zaman Taxation and Anti-Smuggling Jhelum were scheduled for the day.

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he candidate for President, Lahore Tax Bar Association (LTBA), arranged a meeting with the tax lawyers regarding the LTBA election 2017-18.

All the senior and junior tax lawyers participated in the meeting and announced their support to Qamar Zaman and his party for the coming election of the Lahore Tax Bar Association. On the occasion, the senior tax lawyers said in their speeches that Qamer Zaman is a professional lawyer and possesses lead-

ership qualities for the representation of the tax lawyers on any forum.

The lawyers are professionals and playing a vital role in strengthening national economy. He urged that under his leadership tax lawyers will continue their efforts to make the national economy better. He thanked all the participants for attending the party meeting. Shahbaz Saddique, candidate for Vice-President, Abdul Waheed, candidate for General Secretary, Rana Mubashir, candidate for Finance Secretary. –CB Report

heard 17 important cases on and adjourned most of the cases until next hearing.

About 17 cases of different types, including pre-arrest bail pleas Viled by accused, were scheduled for the day. The court adjourned bail pleas of Azhar Mehmood, Shafqat Ali and Shahbaz until next hearing.

The cases, including tax evasion, customs, smuggling and narcotics, were scheduled for the day. A case of Tariq Kazmi, allegedly involved in mobile smuggling, was also scheduled for the hearing. The cases of

kyrgyz envoy for boosting mutual trade

A LAHORE

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mbassador of Kyrgyzstan to Pakistan Erik Beishembiev said on Saturday that both countries should identify new sectors of economy for cooperation and introduce new tradable items to boost mutual trade.

He was talking to LCCI Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan here at Lahore Chamber of Commerce & Industry.

Zeeshan Khalil, Mian Zahid Javed, Moazzam Rasheed, Shahid Nazir, Tariq Mahmood, Rizwan Akhter Shamsi, Waqar Ahmed Mian and Khawaja Khawar Rasheed were also present.

The Ambassador said that promotion of foreign direct investment was the top most priority of his government, adding that investing in Kyrgyz Republic is safe, profitable and easy as the main factors are the liberal trade regime, full protection of investments and unlimited repatriation of profits, currency exchange freedom, low business costs, an educated workforce

Meanwhile, The Special Court of Customs Taxation and Anti-Smuggling heard 15 important cases on Saturday and adjourned most of the cases until next hearing.

About 15 cases of different types, including pre-arrest bail pleas Viled by different accused, were scheduled for hearing on Tuesday. The court adjourned bail pleas of Azhar Mehmood and Shahbaz until next hearing. The cases, including tax evasion, customs, smuggling and narcotics, were scheduled for the day. –M Imran Mehar

and direct access to state authorities. Beishembiev said that Kyrgyz Republic attached great importance to development of economical cooperation with Pakistan. Existing volume of trade between Kyrgyzstan and Pakistan doesn’t correspond to their respective potentials. There is a dire need to take sector-specific measures to promote two-way trade.

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Port operator DP World’s profits up by 28 percent in 2016 DUBAI: Dubai-based DP World, one of the world’s largest international port operators, says its full-year profits in 2016 rose nearly 28 percent and revenue climbed almost five percent. The company said in its release Monday that its operations in Dubai’s Jebel Ali Free Zone and Canada’s Prince Rupert Terminal helped buoy its earnings to $1.13 billion, an increase of nearly $250 million from its 2015 profits. The government-backed port operator’s revenues in 2016 reached $4.16 billion compared to $3.9 billion in 2015. DP World, which trades on the Nasdaq Dubai, operates more than 77 ports in 40 countries.

The firm projects $1.2 billion in capital expenditure this year with investments planned in ports in the United Arab Emirates, Canada, Senegal, the UK and Somaliland.

port of tilbury thank community at consultation for new port he Port of Tilbury, London’s major port, has completed its preliminary community consultation events this month which sought views on its proposals to build a new port terminal adjacent to the current port. The proposed new port terminal, known as Tilbury2, is planned to be built on a 51 hectare site which was part of the former Tilbury Power Station and will include a new deep water jetty. The five community consultation events took place during March at locations and dates across the area and attracted over 400 people who shared their views on the proposals. This was part of the first stage of seeking views from the community, through a preliminary consultation process. The consultation continues until 21 April with the opportunity for anyone to express their thoughts and

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feedback through an online survey or by emailing the T2 team (go to www.tilbury2.co.uk). Following the completion of this stage of the process, the port will further develop the scheme in light of the feedback received during the pre-planning consultation process, before undertaking a statutory/formal consultation during this summer. Commenting on the events, Peter Ward, Commercial Director at the Port of Tilbury said: “We have been encouraged by the level of engagement from the community to our proposals for a new port in Tilbury, which will help us to continue to grow and bring economic benefit and jobs to the area. I want to thank everyone for taking the time to complete our online survey and also to those who came along to the events to share their thoughts, concerns and ideas with us. –CB Report

Ports & Shipping

georgia ports report record growth

chennai ports being searched by DRI to screen containers he Directorate of Revenue Intelligence (DRI) is continuing its extensive searches in Chennai, Mumbai and Kolkata ports besides the container depot in Tughlaqabad for the fourth day following a tip off that consignments of fake Indian currency and arms have reached the country’s shores. This has resulted in congestion in some ports as additional customs and excise official other than those posted in the ports have been requisitioned to ensure free movement of trucks into the ports. Traffic has been hit due to rigorous searches being carried out by DRI sleuths in these ports. Sources told Express that till now the searches have not yielded anything.

Meanwhile, traffic continued to pile up near the Chennai Port as the searches continued. Chennai Port officials told Express that the outbound cargo movement in the port has returned to normal from Sunday. “Yesterday, Chennai Port recorded a movement of nearly 1,600 trucks carrying goods for outbound cargo. –CB Report

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SAVANNAH

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he Georgia Ports Authority reported its second consecutive month of record growth Monday, saying an expanded Panama Canal is driving up cargo volumes more rapidly than expected. The state’s seaports in Savannah and Brunswick handled 2.94 million tons of imports and exports in February, up nearly 10 percent from the same month last year. It was also the Georgia ports’ secondhighest monthly tonnage ever, just shy of the record 3.02 million tons recorded in January.

The growth is being driven by a spike in cargo containers, used to ship everything from consumer electronics to frozen chickens, since the Panama Canal Vinished a big expansion last summer. While Savannah, the fourth-busiest U.S. container port, has years to go before Vinishing a $706 million harbor deepening to make room for larger

Wednesday April 5, 2017

ships, they’re already arriving at higher tides and with lighter loads.

“A lot of the growth is coming from the canal,” said Griff Lynch, the authority’s executive director. “That’s what we expected to happen. It’s happening probably a little faster and stronger than we thought.”

Savannah handled 330,539 container units last month, its highest February volume and the port’s sixth-best monthly total ever. Over-

all, the ports moved 21.5 million tons of cargo in the Virst eight months of Viscal 2017, an increase of 6.5 percent compared to the same period last year. Savannah has handled 2.52 million container units since the Viscal year began July 1, up 4.3 percent from Viscal 2016.

While the ports’ core container business is booming, bulk cargo that’s key to the Port of Brunswick has been suffering.

currency search hits operations at kolkata port M KOLKATA

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ovement of ships and goods at five depots, including Kolkata Port Trust’s twin facilities at Kidderpore and Haldia, were affected on Sunday as sleuths checked shipping containers following a tip-off about large consignments of arms and fake Indian currency notes (FICN) being smuggled in through ports. Nothing incriminating has been found yet. A team of 80 officers drawn from the Department of Revenue Intelligence and customs formed eight teams to check containers in what is undoubtedly the largest search operation in recent times. By the end of the day, the men could clear only 50 containers out of 8,000, underlining the enormity of the task at hand. The absence of advanced scanners at the ports have

only made the search more difficult. Sleuths are particularly focusing on the Kolkata Dock System (KDS) as it handles a significant number of containers and acts as a feeder port for north India. A large number of containers from KDS travels to the inland terminal in Tughlakabad, Delhi. With container movement suspended since Saturday following reports of arms and FICN consignments at Tughlakabad depot and Chennai port respectively, imports have been hampered at these destinations.

This has raised concerns among shippers of possible delays and congestion.

Kolkata Port Trust ofVicials allayed fears of congestion and claimed the port could handle the situation for three-four days. “Containers did not move out from the ports on Sunday.

A decision on the matter will be taken on Monday but there is no im-

mediate risk of congestion,” said S Balaji Arun Kumar, deputy chairman of KoPT. Importers are hoping the search ends before the situation worsens. “Normally , it takes some time for import consignments to get released. With the country’s security at stake, we have to be patient. But this is a clarion call for quick installation of modern technology like scanners to prevent such inconvenience in future,” an importer said.

“Initially the mandate was to look for contraband,” an ofVicial said. The order was to go through containers that landed in Kolkata and Haldia after March 1.KDS has already handled over 6,00,000 Twenty Foot Equivalent Units (TEU) of containers in 2016-17 while HDC’s share has been 1,17,000 TEUs. Of these, 8,000 have been segregated for thorough searches. “We chose some of the containers based on the port of origin and articles,” an ofVicial said. Accord-

ing to customs sources, the lens is on containers from the Middle East, politically disturbed European countries and North African countries.

Meanwhile, Alvarez discussed with Aklan Rep. Carlito Marquez that the improvement of RoRo ports can boost tourism.

“We anticipate the inVlux of tourists this Holy Week. We wanted to know the state of the ports. We are planning to put more budget allocation for the improvement of ports and the roads linked to it,” Alvarez said. By March 19, Alvarez and the group proceeded to inspect the RoRo ports in the province and city of Iloilo. Alvarez and the group also had meetings with Iloilo congressmen Jerry Treñas, Richard Garin, Arcadio Gorriceta, Arthur Defensor Jr., Ferj Biron, and Raul Tupas. The RoRo port in Bacolod City, Negros Occidental was the last to be inspected.

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Excise Police recover 55kg charas, arrest two accused KARACHI: The Sukkur Excise Police have recovered 55-kilogram charas in two different raids and arrested two accused and impounded two vehicles as well.

In first raid, a team of excise police led by excise officer Ali Gul Wassan searched a truck bearing no AE-1069 at Nangreja Kumb Nawabshah Road and recovered 15 kilogram charas, said a statement.

The accused Muhammad Khan was arrested while the truck was impounded.

Wednesday, April 5, 2017

CUSTOMS BULLETIN

Dg pcA Sumaira orders stern action against five fake construction companies ISLAMABAD M fAIZAN

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irector General Post Clearance Audit Sumaira Nazir has refused to accept any pressure and inVluence on the scam of Vive fake importer construction companies. She has directed the ofVicers concerned to register cases against the companies in accordance with the relevant provisions of the Customs Act 1969.

According to sources, a group of retired senior ofVicers approach the authorities and a representative of the construction companies also tried to contact the Directorate General a few days ago, but they all failed to got any encouraging response from the department.

It is pertinent to mention here that the Post Clearance Audit had unearthed a scam of financial fraud and mis-declaration allegedly by five Lahore based fake construction companies. Sources alleged that the companies, M/s Sun Construction, M/s Bisma International, M/s JP Construction and Trading Company, M/s H. Ali Construction Company and M/s Bitumen Traders, were involved in smug-

gling of prime movers.

It is important to mention here

that there was also pressure of previous retired director general for

the transfer of these cases to Directorate General Post Clearance

Audit Lahore but she refused to accept the influence.

Shc restrains tax dept of recovery from Regus Mt khan centre KARACHI

M B RANA

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he Sindh High Court (SHC) restrained the tax department from recovery of Rs27million from Regus MT Khan Centre Karachi Private Limited. The recovery of demand notice was issued by Additional Commissioner Inland Revenue Audit Range-A, Zone-V, Corporate Regional Tax OfVice.

While hearing the petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, also issued notices to the tax authorities and deputy attorney general of Pakistan and directed them to Vile their para-wise comments on the next date of hearing.

Earlier, counsel for the petitioner stated that Additional Commissioner Inland Revenue Audit Range-A, Zone-V, Corporate Regional Tax OfVice, issued a show cause notice dated 15/12/2016 under Section 122 (9) of the ordinance to the petitioner and alleged that the petitioner’s assessment for

tax year 2015 is erroneous insofar as it was prejudicial to the interest of revenue and demanded abovementioned amount in respect of tax year 2015 against the petitioner. According to the petitioner, being aggrieved, he approached the Commissioner Inland Revenue Appeals-III and Viled an appeal along with a stay application which is pending before it, however in the absence of stay order, the petitioner has apprehension of coercive action from tax authorities.

Citing Chairman Federal Board of Revenue, Commissioner Inland Revenue Zone-V, Corporate Re-

gional Tax OfVice, and Additional Commissioner Inland Revenue Audit Range-A, Zone-V, Corporate Regional Tax OfVice as respondents, petitioner pleaded with the court to pass an interim order and suspend the impugned demand notice till the Vinal decision of the appeal pending before the appellate forum.

Meanwhile, The Sindh High Court (SHC) has suspended an impugned demand notice for recovery of Rs 4,431,000 in respect of income tax from the petitioner until the next date of hearing. The court took this action on a constitutional petition Viled by M/s Master Management

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

(Private) Limited against demand notice issued by the deputy commissioner Inland Revenue Unit-II Corporate Regional Tax OfVice. During the hearing of petition, a twomember bench, comprising Justice Aqeel Ahmed Abbasi and Justice Muhammad Arshad Khan, also issued notices to the tax authorities and the deputy attorney general, directing them to Vile their respective para wise comments on the next date of hearing. Earlier, counsel for the petitioner stated that petitioner is a private limited company and is engaged in the business of hotels and paying all liabilities regularly.