Thursday, 17 August 2017

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Karachi, Thu August 17, 2017

ISLAMABAD

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Chinese government requested to the Pakistani government regarding the issue of money laundering of $17.5 million by the Chinese company M/s Yabit, a contractor company of Multan Metro Bus Project.

Sources told Customs Today that on the request of Chinese government, Pakistani government has di-

rected the Federal Board of Revenue to investigate the matter. Federal Board of Revenue has also received ofPicially request by the Chinese Security Exchange Regulatory Commission for the investigation of money laundering issue related to the Chinese company.

It is necessary to mention here that FBR has started investigations from M/s Habib RaPiq Group of Companies, which are the main contractor of Multan Metro Bus Project. According to details $1.7 million has been shifted to

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China in the account of Chinese company from Mauritius and Dubai. Chinese company was partner of Pakistani company M/s Capital Engineering who is working on Multan Metro Bus Project. Capital engineering is not registered with security exchange commission of Pakistan. It is important to mention here that Chinese Security Exchange Regulatory Commission was also approached to the SECP but SECP refused to pass any information regarding Capital Engineering Company.

Customs Intelligence generates Rs 20m through auction of NDP vehicles, cloth

DG Valuation Surriya Butt issues Valuation Ruling No 1201/2017

ASO Lahore seizes Rs15.5m worth of goods in first week of Aug

CM lauds E&T for achieving revenue targets

Quetta Customs seizes 2000 bottles of Iranian juices grease worth Rs2.2m

DG Customs I&I FBR Rawalpindi, has fetchedRs20mthroughsuccessfulauction | See pAge 02 |

DGValuation has revised the customs value of aluminium utensils throughValuation | See pAge 03 |

ASO Lahore has seized smuggled goods worth Rs15.5m in the first week | See pAge 04 |

CM Pervez Khattak has appreciated the performance of E& T and KPRA | See pAge 14 |

Customs I&I continued its action against smuggling during the current month | See pAge 16 |

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Nine Customs officers of BS-18 nominated for 24th MCMC Thursday, August 17, 2017

Islamabad

ISLAMABAD: The Establishment Division has nominated nine BS-18 officers for 24th Mid Career Management Course (MCMC) at the National Institutes of Managements in Karachi, Lahore, Peshawar, Quetta and Islamabad.

These officers of Pakistan Customs Service have been selected for the 24th MCMC commencing from August 21, 2017 to November 24, 2017.

customs Intelligence generates rs 20m through auction of NDp goods

ISLAMABAD

ISLAMABAD

tArIQ DerYA

M FAIZAN

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he Model Customs Collectorate (MCC) Islamabad generated extra revenue valued at Rs15.54million during July Financial Year FY2017-18 under the head of Federal Excise Duty (FED) against the corresponding July FY2016-17. According to details explained by sources of MCC Islamabad that during July FY17-18, the collectorate earned Rs42.27million of FED while the MCC Islamabad did Rs26.73million under the same head during July FY16-17. Sources said that the proposed target under the head of the FED was allocated with Rs7million for July FY17-18 which was surpassed with the growth of 604%. The sources told CT that the collectorate also surpassed the revenue collection of all duties and taxes during July FY17-18 against the same period of corresponding FY16-17 with the growth of 84%.

The sources further told Customs Today that the collectorate is taking administrative measures to enhance the performance of the collectorate under the head of the FED in upcoming months of current Financial Year 2017-18. The revenue target is not assigned for the first quarter (July to September) FY1718 but it will be done during the running month of August FY17-18.

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Directorate General Customs Intelligence and Investigation, Federal Board of Revenue, Rawalpindi, has fetched Rs 20 million through successful auction of non-duty paid impounded vehicles and foreign origin cloth. The auction was held under the supervision of Additional Director Abdul Waheed Marwat while Deputy Director Afzal Watto directly conducted the process of auction in a transparent manner and all vehicles and goods were sold on offers, more than reserved prices.

Director General Shaukat Ali has lauded the process of auction.

While taking to Customs Today, Deputy Collector Afzal Watto said that under the directions of the director general the staff ensured maximum participation of people in the auction, so that, the general public could also take the benefit of this auction.

According to details, Directorate General Customs I&I Rawalpindi has auctioned 12 vehicles out of 20 and foreign origin ladies cloth. The vehicles sold in auction included Toyota Fielder-X-car (NDP) Model 2001, Honda Civic (NDP) Model 2004, Ford Wagon Transit (NDP) Model 1993, Toyota Mark II car (NDP) Model 2000, Toyota Hilux Surf (NDP) Model 2005, Toyota Land

customs Islamabad earns more FeD than previous financial year

Cruiser (NDP) Model 1999, Honda Civic Vti car (NDP) Model 2005, Honda Accord (NDP) Model 2005, Toyota Surf (NDP) Model 1992, BMW 318i (NDP) Model 1999, Toyota Corolla X car (NDP) Model 2005

and Toyota Land Cruiser Prado TX (NDP) Model 2003.

Rawalpindi Directorate has earned Rs18 million from the auction of vehicles while got Rs 2 million revenue from the auctioned of for-

eign origin cloth. A few lots comprise on LCD color TVs, foreign origin tyers, boski cloth and other miscellaneous goods were not auctioned due to less bid. These goods would be sold in next auction.

customs impounds non-duty paid toyota Mark X worth rs 2.45m

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ISLAMABAD

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he Directorate General of Customs Intelligence and Investigation, Federal Board of Revenue, has seized a non-duty paid vehicle, Toyota Mark X, worth Rs 2.45 million.

Reportedly, Balochistan Chief Minister Secretariat was written on the number plate of the vehicle.

However, sources disclosed that the

chief minister’s name was used to bring the non-duty paid vehicle in Islamabad. Sources told Customs Today, that special car cell received a tip off that a vehicle Toyota Mark X car in sliver color bearing Quetta registration number: QBA 3231 Model 2005 3000 CC is parked at Jinnah Super market Sector F-7 Markaz, Islamabad.

The car cell staff rushed to Jinnah Super Market and found the vehicle parked. The cell team, comprising Superintendent Saeed

Ahmed, Intelligence OfPicer Gul Nawaz and other team members waited there for more than three hours. In spite of hectic efforts nobody came forward to claim the ownership of the vehicle.

Ultimately after waiting for hours, the staff of the directorate visited near Kohsar police station Islamabad and informed the SHO about situation. The police lodged the report in daily register and visited the place along with the staff of the special car cell of directorate.

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ASO busts huge quantity of Opium, 3 arrested KARACHI: Customs Collectorate of Preventive Anti Smuggling Organization (ASO) recovers 8.85 kilograms of raw opium after a raid at RCD Highway.

According to the details, on the tip of higher authorities the staff of Anti Smuggling Organization (ASO) of Customs Collectorate of Preventive contacted the Pakistan Rangers Sindh for a joint raid at the at Moachko Check Point.

In a drive launched against the menace of narcotics transportation and smuggling, the staff of Anti Smuggling Organization (ASO) of the Customs Collectorate of Preventive along with Pakistan Rangers 71 wing started search of the different vehicle.

Appraisement east collects rs 40,365m duties & taxes

Thursday August 17, 2017

Karachi

Dg Valuation Surriya Butt issues Valuation ruling No 1201/2017

KARACHI

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he Customs Collectorate of Appraisement East has collected at least Rs 40,365 million taxes and duties under the heads of customs duty, sales tax, income tax and federal excise duty during the month of July 2017. According to sources, the Customs Appraisement East collected Rs 14,988 million customs duty, Rs17, 918 million sales tax, Rs 7,183 million income tax and Rs 275 million as federal excise duty during the month of July 2017. While showing its extra ordinary performance, the Customs Appraisement East Collectorate collected Rs 2,100 million on the last working day i.e. July 31, 2017 that included Rs 724 million.

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customs recovers 8.85kg opium from passenger bus KARACHI

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he Customs authorities have seized about 8.85-kilogram raw opium in a compartment of a passenger bus that arrived in the metropolis from Kharan, Balochistand. According to a Customs spokesman, the bus reached Karachi via the Regional Cooperation for Development (RCD) Highway, a customs spokesman said. The bus was jointly searched by customs officers and Rangers personnel at the Moachko Check Point during the early hours of Tuesday, he said. After opium was found in the bus, the officers seized the vehicle and arrested three suspects, he said, adding that an FIR had been lodged under the Control of Narcotic Substances Act, 1997.

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KARACHI

wAQAr AhMeD ANSArI www.customsbulletin.com

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he Directorate General of Customs Valuation has revised the customs value of aluminium utensils through Valuation Ruling No 1201/2017 under Section 25-A of the Customs Act, 1969. Earlier this Directorate General issued a Valuation Ruling No. 1060/2017 dated 01-03-2017 of aluminum utensils under Section 25-A of the Customs Act 1969. Being aggrieved with the values determined vide above valuation ruling, some importers Piled revision petition before the Director General under Section 25D of the Customs Act, 1969. After hearing the petitioners an Order in Revision No 341/2017 dated: 18.05.2007 was issued by the Director General of Customs Valuation Karachi under section 25-D of the Customs act. The case was remanded back to the Director of Customs valuation Karachi to conduct afresh investigations and issue a fresh valuation ruling for Chinese origin aluminum non- stick kitchen ware with or without Lid so that the value rePlects properly the weight of the glass lid.

Accordingly, the Directorate General investigated and issued for glass lid separately vide valuation ruling No. 1198/2017 dated: 08.08.2017.

Therefore this Directorate General initiated an exercise afresh for determination of custom values of Chi-

nese origin aluminum non-stick kitchen ware with or without lids under section 25- A of the Customs Act 1969. Stakeholders’ participation in determination of customs values: A meeting was scheduled on 01-06-2017 importers attended the said meeting. All the stakeholders were requested documents so that correct customs values could be determined invoices of imports during last three months showing factual value. Websites, names and

the case was remanded back to the Director of customs valuation karachi to conduct afresh investigations and issue a fresh valuation ruling for chinese origin aluminum non- stick kitchen ware with or without Lid so that the value reflects properly the weight of the glass lid

FIr files against suspects involved in tax evasion

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KARACHI

M B rANA

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n investigation ofPicer submitted First Information Report (FIR) before the Customs Court against Shakeel Ahmed, partner/ director of M/s Raja Shakeel Traders (Private) Limited, Muhammad Abdul, partner/ director of M/s Raja Shakeel Traders (Private) Limited, Muhammad Uzair Gheewala, partner/ director of M/s Integra

Trading Co, Azeemuddin, partner/ director of M/s Paper Win, Mirza Muhammad Abbas, partner/ director of M/s Royal Steel in a duty and tax evasion case of Rs 34.3 million.

During proceedings, he informed the court that the suspects, in connivance and collusion with each other, cleared 50 consignments of iron and steel galvanized/ cold rolled coils imported from South Korea, Vietnam and others countries by submitting bogus Pak-China FTA Origin CertiPicates and evaded the

duty and taxes to the tune of Rs34.3 million. The case was registered against them under section 32 (1) (2) and 32A read with section (8) 19 and 79 of the customs act, 1969 punishable under clause 156 (1) (10A) (14) and (14A) ibid further read with section 3, 6, 33 and 34 of the Sales Tax Act 1990 and section of Income Tax Ordinance 2001. After the hearing, the court directed investigation ofPicer to complete investigation and submit charge sheet within reasonable period.

e-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.

Copies of Contracts made / LCs opened during the last three months showing the value of item in question. Copies of sales tax invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the benePit of difference in price is passed on to the local buyers.

FBr withdraws zerorating of textile unit he Federal Board of Revenue (FBR) has withdrawn zero-rated sales tax on the consumption of gas on the misuse of facility by a textile unit. The FBR had withdrawn the facility that was allowed to Lakhany Textile International located at SITE Industrial Area Karachi. The FBR directed the chief commissioner of Corporate Regional Tax Office.

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Man held for stealing electricity Thursday August 17, 2017

Lahore

LAHORE: A Federal Investigation Agency (FIA) Lahore team Friday conducted a raid at a shop in Barkat Market, Garden Town, here where a three-phase meter was being used for stealing electricity. According to the FIA spokesman, a case has been registered against Dr Nadeem Ashraf, the owner of the shop.

Meanwhile, An FIA team has arrested a man on charges of doing hawala/hundi business at Hussain Chamber, Azam Cloth Market.

According to an FIA official, the raiding team found alleged illegal business of hundi/hawala and seized Rs 690,000, receipts/ledgers regarding hundi/hawala and visiting cards from the possession of the arrested accused named Abdul Latif.

customs tribunal accepts appeals of importer in aluminum wire case LAHORE

SAJID NAwAZ

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ustoms Appellate Tribunal accepted the appeal filed by the M/s Azmat International against Collector of Customs (Appraisement), Mughalpura Dry Port Lahore, Collector of Customs (Appeals), Deputy Collector of Customs and Others. According to the details, Member Technical Bench-II Omar Arshad Hakeem heard the case in details and issued final judgment with remarks that not a single GD of copper coated aluminum wire has been released under PCT 7605 from Customs Appraisement Lahore.

The appellant has produced a list of GDs of impugned goods cleared under from Karachi so the appeals

Newly posted collector Faiz Ahmed assumes charge ollectorate of Customs Preventive newly posted Collector Faiz Ahmed has assumed the charge of his new responsibilities from Thursday (today). According to the details, Federal Board of Revenue (FBR) posted Faiz Ahmed as Collector, Customs Collectorate of Preventive after he completion of his chief management course. During his first day in office he met the high officials and as well as lower staff of the Collectorate. He advised staff to work hard honestly. It is necessary to mention here that ex-Collector of Customs Preventive Zulfiqar Younis and Collector Customs Appeals Dr. Asif Jah Mehmood is going to attend his management course. Now FBR posted Collector Customs Sialkot Ahmed Reza as Collector Customs Appeals in Lahore. All officials of the Collectorate already assumed the charge of their responsibilities. –CB Report

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are accepted.

As per brief facts, M/s Azmat International, Model Town, Lahore imported a consignment of copper coated aluminum wire from China and sought clearance under its appropriate HS Code 7605.2900 filed through WeBOC system through M/s Apex International Customs Clearing Agent Lahore.

During the course of examination customs authorities found some discrepancies and charge duties and taxes on the importer. The complainant filed the case before the learned collector of customs (appeals) who passed the order against the importer/ appellant.

The order was challenged before the Customs Appellate Tribunal on the grounds that the impugned order passed without application of judicious mind and against the facts and circumstances and ONO is liable to set aside.

ASo Lahore seizes rs15.5m worth of goods in first week of Aug

LAHORE

M hAYAt

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he Anti-Smuggling Organization (ASO) Lahore has seized smuggled goods worth Rs15.5 million in the Pirst week of August, 2017.

The ASO team intercepted a Shahzore van near railway station loaded with electronic goods including colour TV, LEDs. The value of the detained goods is approximately Rs3.5 million.

In another case, ASO staff intercepted and detained a Mazda Mini Truck loaded with 102 bags of Almonds of Afghan Transit goods. One accused is also arrested. The value

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is Rs10 million. In another incident, 699 Mobile phones, 100 crates of coconut juices and LED TVs worth Rs2.0 million.

Meanwhile, Customs Preventive Anti-Smuggling Organization (ASO) Lahore seized two non customs paid illegally imported cars from different localities in the city. The ofPicial sources told Customs Today that during routine patrolling on the directions of deputy collector Moazzam Raza the ASO team intercepted Toyota Crown model 2005 bearing registration no: NZ/388. The sources said that the ASO team under the supervision of Superintendent Nasir Minhas intercepted the vehicle and demanded the owner Jamshaed to produce legal clearance documents but he remained failed to produce the required documents. The ASO Inspector Sajad Bukhari and other detained the car and Pinally seized it after being fully satisPied that the legal duty and taxes have been not been paid on the purchase of the car and is brought in the city illegally.

Dc orders to release imported 12 LeDs customs tribunal rejects appeal after payment of redemption fee, tax he Customs Appellate Tribu- pering between registration docu-

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eputy Collector Customs Adjudication Mohammad Hassan Farid has issued a Order-inOriginal (ONO) No. 212/2017 declaring the seizure of non duty paid LEDs as legal, but ordered to release goods after payment of 20 percent redemption fee, tax and duty. Sources told Customs Today Superintendent Anti Smuggling Organization vide Contravention Report No. 183/20/2017 dated 13.7.2018 are that on 13.7.2017, the staff of ASO intercepted a Suzuki Pickup bearing

registration no: LHC-8927 near Regal Chowk, Lahore which was loaded with foreign origin LEDs. On query the person on driving seat introduced himself Muhammad Saleem son of Muhammad Iqbal as driver of the pickup another person sitting beside the driver identiPied himself as Abdullah son of Haji Khial Zada claimed the ownership of the loaded 12 LEDs. On demand, the above driver owner or any other person could not produce any documentary evidence or otherwise, in support. –CB Report

nal has dismissed an appeal filed by owner of Mazda mini truck Muhammad Khalid Hussain against Collector of Customs (Appeals) Lahore, Deputy Collector (Adjudication) Faisalabad and others.

According to the details, Member Judicial Omer Arshed Hakeem, heard the arguments from the complainant and the respondent sides and passed the order that “the vehicle was brought into the country without payment of duties and taxes and there was also tam-

Fto adjourns hearing of case filed by M/s

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LAHORE

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ederal Tax Ombudsman (FTO) Consultant Tariq Yousaf has adjourned the hearing of a case Piled by M/s Bashir Pipe Industries (Private) Limited Lahore till one week against the Corporate Regional Tax OfPice (CRTO), Lahore.

According to the details, FTO Consultant heard the case in which counsel for appellant M/s Bashir Pipe Industries (Private) Limited argued that the Corporate Regional Tax OfPice (CRTO) had failed to release the tax refund of the last two years. He said the RTO collected excessive tax from company and he approached the commissioner concerned many times for issuance of

refunds but the CRTO ofPicials 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.

Delay in issuance of refunds put burden on the taxpayers, he said, adding the CRTO Lahore should au-

ments and impugned truck, as such, the appellant miserably failed to produce legal documents regarding lawful imports so the appeal being devoid of merit is dismissed with no order as to costs.”

According to the details of the case, the staff of Customs Intelligence and Investigation – FBR intercepted Mazda mini truck. On demand, driver failed to produce evidences regarding lawful import of the vehicle and the vehicle was detained under section 2 (kk) of customs Act 1969. –CB Report

dit the cases and release the extra amount collected by it from the taxpayer. On the other hand, counsel for CRTO argued that appellant M/s Bashir Pipe Industries (Private) Limited has not submitted all record in the ofPice 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.

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ISLAMABAD

tArIQ DerYA

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hief Collector North Sarwat Tahira Habib’s brief visit regarding the border customs meeting between the Urumqi Customs of China and Pakistan Customs (North Region) was held in Urumqi, China, from 25th to 26th of July 2017.

Both sides reiterated that China Pakistan Economic Corridor (CPEC) agreement would be made more effective through mutual trade facilitation. The two sides agreed on the need to timely communication of changes in their respective import and export policies. The visit to Urumqi Customs was fruitful and the parleys will yield positive results for the benePit of Pakistani importers, exporters, brokers, and other stakeholders in the bilateral trade between Pakistan and China.

According to details given by Chief Collector North that a delegation of Pakistan Customs, headed by the Chief Collector of Customs (North), visited Custom House, Urumqi, Peoples Republic of China, from 24th to 26th July, 2017. She added that the delegation discussed issues of common interest with Urumqi Customs within the framework of ‘Agreement on Co-operation and Mutual Assistance in Customs Matters, April 2005’, and the Joint Statement dated May 24th, 2016 between Urumqi Customs of People’s Republic of China and Pakistan Customs (North Region), Federal Board

of Revenue. She said that in the perspective of the China-Pakistan Border Customs meeting in Islamabad in May 2016 the two delegations acknowledged the importance of long-term cooperation and improved trade facilitation in the wake of operation of ChinaPakistan Trade Corridor (CPEC). Both sides reiterated that the CPEC Agreement would be made more effective through mutual trade facilitation. The two sides agreed on the need to timely communication of changes in their respective import and export policies. Chief Collector told CT that the Chinese

side emphasized the operation of “Green Corridor” for speedy clearance of agricultural products being perishable goods. Similar arrangements are already in place between Urumqi Customs administration with its counterparts in Tajikistan, Kirghizstan and Kazakhstan. Since the dividends of such an arrangement as a trade facilitation measure are self evident, both sides agreed on the need to establish in future “Green Corridor” for speedy clearance of agricultural goods on both sides. The facility is also expected to help redress issues faced by Pakistani exporters of agricultural produce.

She further told CT that in order to promote cooperation between the two customs administrations, it was agreed to establish a Working Group with the counsel of Urumqi Customs and Chief Collector of Customs (North) envisaged to be effective by the end of August 2017 subject to an approval of the general administration of China Customs (GACC) of China, and Fede eral Board of Revenue (FBR) of h t f ctive o Pakistan, respectively. e p s r e s he p t m The Chinese Customs provided a o n i t s t cu id tha e order draft implementation plan on h B t n 6 She sa a 1 t 0 akis ay 2 p Green Corridor and a draft list M a n n i i ch ad ed the of agricultural products for the lamab g s d I e l n i ng know n c o proposed Green Corridor to be i a t s a meeti n r io pe studied by Pakistan Customs elegat m coo r d e e o t h w t g t for providing feedback and of lon ion in tance cilitat a f e communication of its own list tan d s impor a i r k t a d p aprove of agricultural products for exf chin and im tion o a r port to China under the Green e pec) p c o ( f r o o rrid Corridor arrangement. wake mic co econo

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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

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Investment in oil and gas sectors

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fter years of media hypes, half-hearted efforts and meagre investment, the country is finally able to produce 90,000 barrel crude oil per day. The Pakistani coastline falls in the same geographical region as are the oil rich Arab states and Iran, but it could not brought its oil production to a hundred thousand barrel a day in 70 years. There had been a lot of rumourmongering in the country for years that Iranian king is hindering oil exploration in Pakistan. However, after the Islamic revolution in Iran, the rumours subdued, but oil still remained unexplored in the country. Another pack of rumours suggest that there are huge deposits of oil and gas on the sea shores of Karachi due to which the international secret agencies, hostile to Pakistan, converted the city of lights into the city of deaths. However, no words came out of the mouth of any government official whether the oil deposits on the sea shores are myth or reality. During the 70 years history of the country, dozens of foreign companies came, invested and packed up without doing any significant improvement in the exploration. The oil and gas regulation authority has allegedly become a white elephant like the other giant government organizations.

The Ministry of Petroleum and Natural Resources has now stepped its efforts to achieve self-reliance in oil and gas sectors and has granted dozens of new exploration licenses to foreign companies. The oil companies have drilled 179 exploratory and 194 appraisal wells that resulted in dozens of new oil and gas discoveries. Reports suggest that at least 944 million cubic feet per day gas and 32,343 barrels oil per day have been added to the transmission network through indigenous resources. An official agency has claimed that the petroleum sector attracted over $10 billion foreign investment during the last four years.Various international companies are aspiring to invest in the liquefied natural gas sector. They want to set up their own LNG terminals and develop transmission networks up to consumers.The previous government of Nawaz Sharif had signed a $15 billion contract with Qatar Gas to import 600 million cubic feet per day LNG to meet the demands of industrial and fertilizer sectors as well as the gas-based power generation plants in the country.

economy under pressure A

LAHORE

Dr AFtAB AFZAL

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t a time the world is expecting progressive view of Pakistan, the recent unfortunate events have marred the credibility and goodwill of the country’s economic affairs.

The Morgan Stanley Capital International’s (MSCI) had recently reclassified Pakistan as the emerging markets after picking it up from the list of frontier markets. It was also expected that the flow of money will gain momentum in the country as the market would get attention from international investors after acquiring emerging market status.

However, experts believe the

stocks are under pressure in the wake of former prime minister Nawaz Sharif ’s rally as the benchmark lost hundreds of points earlier in the day. According to a dispatch appearing in Wall Street Journal, the emerging markets are economically more developed than frontier markets and potential investors generally consider them as less risky. The sharp decline in the index ahead of the rally indicates the stocks would continue to remain under pressure in coming days due to political developments coupled with concerns over the accumulation of Rs800billion circular debt in the energy sector and uncertain oil prices in international market.

According to MSCI, Pakistan will experience inflow of money into the stock exchange despite political chaos and economic pressure and that is the only positive understanding in the current situation.

The country is at the cross road where it can go either on the path of development or the road to nowhere. Unfortunately, the recent events on the political horizon have changed the perception of the economy in one blow. The national institutions and think thanks must do some research work to find out the causes behind the events which have sent Pakistan into troubles.

A strong political system will ensure a strong economic base.

The next elections are only a year away and plunging the country into the political and economic crisis is not a wise decision. The government of Pakistan Muslim League under Nawaz Sharif had failed to reap the benefits of the GSP plus status granted by the European Union or the huge investment made by China in the economic corridor. However, minus Nawaz formula is expected to cause more harm to the national economy than his presence in the office would have done. One can only hope that the new prime minister would try his best to avail the investment opportunities still offered by China and other countries.

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Minister vows to frame trade-boosting strategies ISLAMABAD: Enhancing the country’s exports and achieving its trade targets is the ultimate priority of the government, remarked Federal Minister for Commerce and Textile Pervez Malik on Wednesday.

He emphasised that he would frame short, medium and long-term strategies for enhancing trade with different partner-countries across the world.

Commenting on trade relations with the European Union, Malik said Pakistan had a major opportunity to gain a greater market share due to the leverage provided by the Generalised Scheme of Preferences (GSP) Plus status.

“Exports of home textile products from Pakistan to the EU increased 60% in 2016 compared to 2013,” he said in reply to a question.

exports to russia increases by 10 percent in three months

Thursday August 17, 2017

National

Shc directs parties to file comments on petition seeks release hino truck

ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

akistan’s exports to Russia increased by 10 percent in June, 2017 as compared to May 2017, which showed positive sign for enhancing the trade ties between the two countries. Pakistan and Russia have agreed to sign Free Trade Agreement for increasing bilateral trade and improving long term economic ties, said senior official of Ministry of commerce here on Thursday. “Russian President Vladimir Putin during his meeting with then Prime Minister Nawaz Sharif on the sidelines of Shanghai Cooperation Organization (SCO) offered the agreement, which Pakistan accepted,” he added. He said the trade turnover be-

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tween Russia and Pakistan has slightly increased and both of the countries have huge potential for economic cooperation in future, he said. He said that Pakistan is exploring Russian markets to boost exports of food products to take advantage of the vacuum created after Moscow banned food imports from European countries. The official said that Pakistani citrus, rice, potatoes and mangoes are making their way into the Russian market. He said Pakistan had huge opportunity to export fresh meat and poultry, vegetables which include carrot, cabbage and beet-root, and fruits including dates, dry fruits, apple and plum in Russian market. The government is committed to support Pakistani exporters for gaining facilities to increase excess and competitiveness in the Russian markets. Both sides were also willing to sign Preferential Trade Agreement (PTA) before the FTA to get excess to Russian market for enhancing trade facilities to the exporters.

KARACHI

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M B rANA

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he Sindh High Court (SHC) has directed parties to Pile their comments on a constitutional petition Piled by Moula Bux, seeking release of his imported Hino truck bearing registration number TKA325 model 1994.

A two-member bench, comprising Justice Munib Akhtar and Justice Yousaf Ali Saeed, was hearing the petition.

During the proceedings, counsel for the petitioner stated that petitioner is lawful owner of the truck which was imported in according with law. However, respondents detained it without given notice under section 171 of the Customs Act, 1969. On the demand, he produced all legal and lawful documents before concern authorities and requested for release of his vehicle, however, the respondents denied his request and still detained his vehicle illegally. Citing Secretary Revenue Division, Director Customs Intelligence & Investigation-FBR as respondents, he pleaded the court

to declare that act of the respondents as illegal, mala Pide and arbitrary. He also pleaded the court to direct them to release his vehicle immediately.

Meanwhile, The Sindh High Court (SHC) has restrained the customs authorities from taking any coercive action against the petitioner on a constitutional petition Piled by M/s Scorpio Enterprises and General Trading, seeking re-

lease of its consignment of textile synthetic staple Piber Pilament stuff detained by customs authorities. A two-member bench, comprising Justice Munib Akhtar and Justice Yousaf Ali Saeed, was hearing the petition. Earlier, counsel for the Customs Department sought time to Pile para wise comment, therefore, the court continued interim order and adjourned the matter. On the last date of hearing, the court

had restrained the Customs Department from taking any coercive action against the petitioner. Earlier, counsel for the petitioner stated that it is engaged in the lawful import and misc items such as textile synthetic staple Pibre and fabric from China and other countries, petitioner imported a consignment of textile synthetic staple Pibre Pilament stuff and Piled goods declaration according with law.

pakistan Development Summit to be held today ISLAMABAD

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inistry of Planning, Development and Reforms is organizing the Pakistan’s Development Summit and Expo on August 17 to celebrate Pakistan’s development journey it has embarked upon over the last 70 years and the future plans in the light of Pakistan Vision 2025. The conference will deliberate upon the policies responsible for growth in agricultural, industrial and services sector.

The conference also aims to look at the reforms of the current government of Pakistan to overcome the shortcomings of the previous policy frameworks, particularly, the socioeconomic initiatives undertaken the Pakistan Vision 2025 to whom the recent economic resur-

gence can be attributed, sources in the ministry said. The objectives of the conference would be achieved by engaging different stakeholder from academia, media, government and leading industry players. The

stakeholder engagement is proposed to initiate a development discourse which stems from a positive outlook on the achievements of the past and nourishes from the efPicient and effective policy framework

of the present. The resulting “Development Discourse” can rope in the development journey of Pakistan making it inclusive and sustainable. Such a discourse is also much needed to dispel the negativity and atmosphere of despair which are a threat to the much needed stability required for continuation of policies. The proposed conference is structured in a way that it also serves as a platform to initiate a dialogue where ideas, thoughts and questions are expressed and tackled in an open environment to ensure a sustainable and inclusive development process in the country. Moreover, the 70 years of Pakistan Development Expo will present a visual journey of decade-wise development timeline of key projects.

Starting from 1947, the major development projects of each decade will be presented.

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Superintendent Muhammad Nasim to retire on Oct 2 Thursday August 17, 2017

National two Inland revenue officers of BS-20 transferred

ISLAMABAD: Muhammad Nasim Khan, a Pakistan Customs Service officer of BS-17, is going to retire from the government service on attaining the age of superannuation.

The officer, presently posted as Superintendent at Model Customs Collectorate, Sialkot, will stand retired from the government service on October 2, 2017.

Deputy commissioner Aisha Asad posted in Islamabad

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ederal Board of Revenue has transferred/posted two Inland Revenue Service officers of BS-20 with immediate effect and until further orders. Dr Muhammad Ali Khan has been transferred from Chief Commissioner Inland Revenue (CCIR), RTO, Quetta and posted at CCIR, RTO, Sukkur. Saif Ullah Khan has been transferred from Chief CommissionerInland Revenue, RTO, Sukkur and posted at CCIR, RTO, Quetta. The officers who are drawing performance allowance prior to issuance of this notification, they will continue to draw this allowance on the new place of posting. They are asked to relinquish/assume charge using online HRMS facility made available to FBR or by using their IJP logins. Meanwhile, Salman Ali, a BS-18 officer of Inland Revenue Service, has relinquished the charge as Deputy Director, Directorate of Law, Lahore.

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waseem relinquishes charge as chief (opS) uhammad Waseem Altaf, a BS-19 officer of Inland Revenue Service, has relinquished the charge as Chief (OPS). Muhammad Waseem, in pursuance of Board’s Notification No. 2015-IRI/2017, dated 26.07.2017, took the charge of the post of Chief (OPS), Federal Board of Revenue (HQ), Islamabad with effect from July 31, 2017. Meanwhile, Shabih-ul-Aijaz, a BS-19 officer of Inland Revenue Service, has taken the charge as Chief (OPS) (Income Tax Policy). The officer, pursuing the Board’s Notification No. 2015-IR-I/2017, dated 26.07.2017, relinquished the charge of the post of Additional Commissioner-IR, Large Taxpayers Unit, Lahore with effect from July 27, 2017 and assumed the charge of the post of Chief (OPS) (Income Tax Policy) at FBR (HQ). –CB Report

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isha Asad, a BS-17 ofPicer of Inland Revenue Service, has been transferred and posted as Deputy Commissioner.

The ofPicer, presently posted as Deputy Commissioner (on acting charge), Regional Tax OfPice, Abbottabad, was transferred and posted as Deputy Commissioner, (acting charge) Regional Tax OfPice, Islamabad, with immediate effect and until further orders. Aisha has been asked to relinquish/assume charge, using online HRMS facility made available at all FBR major Pield ofPices or by using IJP login.

Meanwhile, Agha Saeed Ahmed, a Pakistan Customs Service ofPicer of BS-18, has assumed the charge

against the post of Secretary (BS-19), Federal Board of Revenue (HQ), Islamabad. The ofPicer, on joining FBR after relinquishment of charge of post

of Commercial Secretary, Embassy of Pakistan, Kuwait on June 30, 2017, took the above-said charge with effect from July 10.07.2017 to actualise his

promotion in BS-19 on temporary basis against DTL vacancies in pursuance of Board’s NotiPication No. 2412-C-II/2013 dated 03.10.2013.

ASo Quetta sezies vehicles & smuggled goods worth rs72.282 million T

QUETTA

tArIQ DerYA

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he Anti-Smuggling Organization (ASO) Quetta took into possession Non-Duty-Paid (NDP) smuggled vehicles, petroleum products and goods valued at Rs72.282million during July Financial Year FY2017-18.

According to details explained by sources of Model Customs Collectorate (MCC) Quetta that, during July FY2017-18, the ASO Quetta impounded 47 NDP vehicles from different parts of MCC Quetta jurisdiction under the Customs Act1969. The sources told CT that the value of said NDP vehicles was estimated at Rs29.82million. During above said period, the ASO Quetta seized 41,590 litres of petrol, diesel, kerosene oil and mobil oil.

The estimated value of seized POL products is Rs2.58million. During

above said period, the ASO Quetta made huge seizures against smugglers and notorious persons and conPiscated various kinds of smuggled goods which comprise betel

nuts, tyres and tubes, auto-parts (old and new), foreign origin fabrics and cigarettes worth Rs39.882million. Telling about the Field Formations of Customs Sta-

tions, sources told CT that there are many Field Formations of Customs Stations which generate revenue while working against antismuggling activity.

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PAC decides to take up fresh audit reports ISLAMABAD: Public Accounts Committee (PAC) of the Parliament Thursday decided to refer audit paras related to old fiscal years to the sub-committees of PAC to finish the backlog. However, the PAC had decided to take up the audit paras of fiscal year 2016-17 for discussion.

Chairman PAC Syed Khursheed directed the Auditor General to refer the old audit paras to the sub-committees. The audit paras of 2012-13 would be discussed in sub-committee headed by Ms. Shahida Akhtar, audit paras of 2013-14 to committee headed by Sardar Ashiq Gopang, 2014-15 Syed Naveed Qamar and 2015-16’s audit paras to committee headed by Shafqat Mahmood.

NIp to develop Special economic Zone in federal capital ISLAMABAD

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he Board of Investment (BOI) said National Industrial Parks (NIP) a development and a management company would develop the planned Special Economic Zone (SEZ) in Islamabad. “We require around 50 acre land to develop Special Economic Zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors, a Spokesman of Board of Investment (BOI) Shah Jahan. He suggested Pakistani investors should go for joint venture with foreign investors to learn the international best practices of managerial skills and technology. He said that Special Economic Zones would lead to create employment opportunities and development in the area. The

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government has identified 46 economic zones throughout the country in different regions including seven approved zones, he said. He said, “We are committed to facilitate the foreign investors in Special Economic Zones (SEZs).” SEZs investors would get the facility for plant and machinery import without customs duty in all four provinces of the country.

Three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa, he added. He said that nine more Prioritized Special Economic Zones (PSEZs) would also be established in Punjab, Sindh, Khyber Pakhtunkhwa (KPK), Balochistan, Northern Areas and Federally Administered Tribal Areas (FATA). BOI spokesman said that nine prioritized industrial zone have been proposed for high tech industry meant to enhance the export and employment opportunities to the people in the country.

National

ASo hyderabad confiscates 375 useable smuggled tyres

practical suggestions by businessmen invited KARACHI

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hairman, Senate Standing Committee on Defence Productions, Senator Lt.-Gen (Retired) Abdul Qayyum Khan has said the government’s first priority is to reduce loadshedding and all efforts are being made to plan and execute renewable and hydel energy projects to curtail the prices. He was addressing the business community at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Monday, says FPCCI statement. The Senator, from the ruling party PML-N, was received by the President FPCCI Zubair F. Tufail and Vice President Mirza Ishtiaq Baig, senior business leader Dr. Mirza Ikhtiar Baig along with other business leaders. The business leaders raised certain issues and difficulties being faced by the business community. He invited practical suggestions for resolution of their issues.

The business community through their associations and chambers should act as think-thank for the government in formulating the national policies especially for promoting trade and industries.

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HYDERABAD

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he Anti-Smuggling Organization (ASO) Hyderabad has conPiscated 375 useable smuggled tyres (Made in Japan, Korea, Poland,) of different sizes valued at Rs3.4million during a recent action at Hyderabad Bypass during august 2017-18.

Collector Model Customs Collectorate (MCC) Hyderabad Akhlaq Ahmed Khattaq directed his staff that smuggling attempts be aborted in the region. Additional Collector Rehmatulah Vistro received a tip-off regarding the smuggling of foreign origin non-duty-paid tyres.

He formed a team, comprising ASO Customs Preventive Hyderabad Superintendent Ghulam Shabbier Phalpoto, Inspectors Imdad Ali Abro, Abdul Majeed Barich, Muhammad Iqbal, Abid Ahmad Khan, Mushtaq Ali Lakho, Hawaldar Muhram Thebo, Sepoys Nenomal, Umar Sulangi, Ghulam Sarwar, Muhammad Ayoub ,Sadique Siddique, Drivers Sher Akbar, Ajaz Ali and Nisar Ahemdani, which participated in the action.

The ASO team intercepted a trailer with registration No: Z-7129 near Hyderabad Bypass and recov-

Thursday August 17, 2017

ered the said items. Prior to the recovery of goods, the ofPicials asked the driver for producing the documents regarding the legal import of the items but he could not prove anything. The team impounded the items under the Customs Act’s section 2 (S) & 16 of the Customs Act1969 punished under clause (89) of section 156 (1) of the Customs Act 1969 read with SRO No 566(1) 2005 dated 06.06.2005. A case was regis-

tered against the accused. The case has been sent to the customs adjudication for further legal action. OfPicials said that Hyderabad Customs Collector Akhlaq Ahmad Khattaq had directed that effective measures should be taken for curbing the smuggling in the region. They added that the anti-smuggling ofPicials have enhanced the vigilance on roads to keep an eye on the movement of the impounded items and vehicles.

ASo foils smuggling attempt by confiscating cloths

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HYDERABAD

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The MCC Hyderabad’s AntiSmuggling Organization (ASO) Jacobabad check-post has seized foreign origin 710 kilogram of smuggled non-duty-paid curtain cloths. The market value of the item is Rs852000 involving customs duty and taxes of Rs447170. The action was carried out during the last week of July 2017-18.

Following the direction of Model Customs Collectorate Collector Akhlaq Ahmad Khattaq, the ASO team is conducting various operations in the region in order to frus-

trate the smuggling attempts, officials said. Sources told Customs Today that Anti-Smuggling Organization (ASO), Larkana Customs Preventive, received a tip-off re-

garding some smuggling attempts.

The ASO authorities constituted a raiding team comprising Incharge Chek-post Aziz Katpar, Inspectors Agha Nazeer, Ray Abro, Nasrualha

Gilal, other sepoys and driver. The party intercepted a public transport vehicle near Jacobabad and recovered said curtain cloths. The raiding team asked the driver to produce the legal documents of the import of above said cloths, but he failed to do so. The cloths were confiscated. A case was registered and an investigation was also started.

The ASO deposited the impounded goods into Sukkur-Larkana division State Warehouse. Talking with Customs Today, Customs Additional Collector Rehmatullah Vistro said the Hyderabad Customs showed excellent performance regarding the antismugglings during said period.

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World Customs

Thursday August 17, 2017

Hong Kong Q2 GDP seen solid, retail spending recovers HONG KONG (Aug 8): Hong Kong’s economic growth in the second quarter probably cooled from its fastest annual pace in six years but the city will still post a solid performance due to recovering domestic demand, a buoyant stock market and booming property sector. The Chinese-ruled city started 2017 on a strong footing and economists are optimistic about the near-term outlook, boding well for Hong Kong’s new leader, Carrie Lam. The $270 billion trade-reliant economy was forecast to expand 3.48 percent in the April-June quarter from a year earlier, according to the average estimate of six analysts surveyed by Reuters.

Fake goods worth Dh73m seized in Dubai in h1 of 2017

cBp arrests man who falsely claimed to be a uS citizen WASHINGTON

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ubai Customs has made 133 seizures of fake goods worth a total of Dh72.6 million in the Pirst half of this year. The seized goods electronics, watches, tyres, medicines, clothing, perfumes and cosmetics among others were fakes of established brands.

Dubai Customs said the seizures enabled producers to avoid losses from imitation of their brands.“Intellectual property rights protection gains double importance in the evolution course of our national economy,” said Yousuf Ozair Mubarak, director of the intellectual property rights department at Dubai Customs.

“Accordingly, we put the protection of intellectual property rights on top of our priorities at Dubai Customs, and are working to improve the level of our performance in dealing with

greece launches new offshore oil and gas tenders reece launched two tenders on Monday for offshore oil and gas exploration and exploitation in the west and south of the country, the energy ministry said. The move follows expressions of interest by a consortium of Total, Exxon Mobil and Hellenic Petroleum for exploration in two sites off the island of Crete, and

by Greece’s Energean for a block in the Ionian Sea in western Greece. Investors will have 90 days to submit offers to the Hellenic Hydrocarbons Resources Management (HHRM) from when the announcement is published in the European Union’s official gazette. Greece has launched a program to discover more oil and gas, encouraged by recent large gas finds off Israel and Cyprus and spurred on by its protracted financial crisis. –CB Report

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counterfeit goods.” The ofPicial added that Dubai Customs had the most advanced inspection equipment to detect fake goods. “We also cooperate with the World Intellectual Property Organisation (WIPO) and with other relevant authorities to coordinate efforts against counterfeiting,” said Mubarak. Meanwhile, Millions of travellers are benePiting from streamlined customs services at Dubai Interna-

tional Airport, ofPicials said on Wednesday. Newly compiled statistics recorded by Dubai Customs Passenger Operations Department at Dubai International Airport reveal that Terminals 1, 2 and 3 processed more than 12 million passengers in the Pirst half of this year. In addition, roughly 18 million luggage items transited through the airport from 39,000 Plights during the Pirst half of 2017.

Amazon uk halves corporation tax to £7.4m as sales soar to £7bn

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mazon UK’s corporation tax bill halved to £7.4m last year despite its retail sales soaring past £7bn. Amazon UK Services – the company’s warehouse and logistics operation that employs almost two-thirds of its 24,000 UK staff – saw its UK corporation tax bill plunge from £15.8m to £7.4m year-on-year in 2016. The cut came despite turnover at the business, which handles the packing and de-

livery of parcels and functions such as customer service, rising from £946m to £1.46bn. Overall, Amazon UK received a £1.3m credit from the UK authorities, which it will be able to deduct from future tax bills.

The company, whose stock market value recently soared to more than $500bn (£386bn), received a tax credit due to a series of deductions including £36m of share awards to managers and staff. –CB Report

S Customs and Border Protection (CBP) Office Field Operations officers arrested a man at the Lewiston Bridge after he falsely claimed to be a U.S. citizen. On Sunday, Juan Jimenez Cortez, a 45-year old male, citizen of Mexico, presented an Illinois driver’s license bearing a different name and told the primary officers that he was a U.S. citizen. Cortez was referred for further inspection where fingerprints revealed his true identity.

CBP Office of Field Operations presented the case to the U.S. Attorney’s, Office who accepted it for prosecution. Cortez appeared before a federal magistrate where he was charged with aggravated identity theft and making materially false and fictitious statements

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to a federal officer. Cortez was remanded into the custody of the U.S. Marshals Service pending his hearing. “This was an outstanding job by our front line officers,” said Acting Port Director Cary Frieling.

“Identifying individuals who are in our country illegally and who present fraudulently obtained travel documents, is part of the important job our officers do to secure our borders and protect our community. We have an excellent working relationship with the U.S. Attorney’s office and together we can ensure these individuals face justice.” U.S. Customs and Border Protection is the unified border agency within the Department of Homeland Security charged with the management, control and protection of our nation’s borders at and between the official ports of entry. CBP is charged with keeping terrorists and terrorist weapons out of the country while enforcing hundreds of U.S. laws.

Vietnam July auto sales down

ietnam’s total vehicle sales fell by 27 percent to 20,662 units in July from a year earlier, the Vietnam Automobile Manufacturers’ Association (VAMA) said on Tuesday. Sales by VAMA membermanufacturers fell 21 percent to 19,345 units, including sport utility vehicles, passenger cars and commercial vehicles.

Vietnam’s Truong Hai Auto Corp, which assembles sedans, trucks and buses, led sales in July, followed by Toyota Motor Corp. Month on month, July sales of tour buses and vans fell 21 percent to 11,195 units, while commercial vehicle sales dropped 7

percent to 8,489 units, VAMA said in a report. Meanwhile, The Việt Nam Steel Association (VSA) is calling on the Government to maintain a series of quality and management controls in the steel industry since trade fraud in steel imports is still high. The Ministry of Industry and Trade (MoIT) had planned to eliminate administrative procedures in 17 Pields this year, including the steel sector, in order to ease conditions for enterprises. In December 2015, the Government issued a circular (No 58) dePining regulations on the management of domestically produced and imported steel quality. –CB Report

cppIB added almost $10b in assets in last quarter

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OTTAWA

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anada’s national pension plan owned assets worth $326.5 billion at the end of June, a nearly $10-billion increase in three months despite a weakening Canadian dollar that dragged down results. The Canada Pension Plan Investment

Board (CPPIB) invests funds on behalf of 20 million Canadian workers and retirees included in the Canada Pension Plan. The board’s job is to take contributions not needed to pay current benePits and invest them for the future.

Last year, the chief actuary of Canada reafPirmed that the fund should be able to pay out all of its obligations for the next 75 years at its

current contribution rate of 9.9 per cent. Of the almost $10 billion increase in the fund’s assets, about 5.7billion worth came from investment returns. Another $4.1 billion came in via new contributions. Between April and June, the fund earned a 1.8 per cent rate of return after costs.

But the performance looks a lot better over a longer time frame. In the previous Pive years, the fund has

pulled off a return of 10.5 per cent, after costs. Over a 10-year horizon, the gains drop to 5.2 per cent, but still well above the 3.9 per cent annualized long-term gains the chief actuary calculates will be needed for the fund to pay out its obligations in perpetuity. Every major class of investment that the fund has money put to work in contributed to the gain, including public stocks.

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Smooth shipping activities at Port Qasim KARACHI: Seven ships C.V Priority, C.V Malpo, M.V Golden Catharine, M.T Al-Jassasiya, M.T Stanley Park, M.T Karachi and M.T Global Aker carrying containers Canola Seeds, LNG, Chemicals, Furnace oil and Palm oil were arranged berthing at Qasim International Container Terminal, Grain and Fertilizer Terminal, Engro Elengy Terminal, Engro Vopak Terminal, Fotco Oil Terminal and Liquid Cargo Terminal respectively during last 24 hours, said a report issued by Port Qasim Authority (PQA) here on Friday.

Meanwhile two more ships, Container Vessel CMA CGM Amazon and Oil Tanker Pavano Spirit also arrived at outer anchorage of Port Qasim during last 24 hours.

oman port grows most in 2016 lobally 65% of large container ports grew in terms of throughput in 2016, but the Port of Salalah in Oman saw the largest growth spurt, according to Dutch maritime consulltancy Dynamar. Dynamar’s DynaLiners ‘The Millionaires’ data report for July summarises throughput data for the 126 ports worldwide handling more than 1,000,000 TEU. Of these large container ports 65%, or 82 of 126 ports, saw throughpout grow from 2015 to 2016. Globally, the three largest ports in terms of throughput in 2016 were Shanghai (37,130,000 TEU), Singapore (30,900,000 TEU), and Shenzen (23,979,300 TEU).

Shenzen comprises the integrated port complex of Dachan, Shekou and Yantian. China remained the country with the largest container throughput, although the reports’ authors have noted that figures from Chinese

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ports often include river cargo. China as the country with the most container throughput was followed by the US, Singapore and South Korea in that order. But in terms of individual ports expanding container throughput, ports not only in Asia and the Middle East, but also in the UK, ranked in the top five. Leading the pack were the Port of Salalah in Oman (29%), Port of Southampton in the UK (26%) and the Port of Tangshan in China (27%), followed by the Port of Chittagong in Bangaldesh (26%), and London Port in the UK (26%). Salalah Port’s container throughput has rocketed 29% following the completion of a new deep-water general cargo and liquid bulk terminal in December, 2015, as PTI previously reported. –CB Report

Ports & Shipping

Southern california ports seek emissions upgrades BEIJING

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he California ports of Los Angeles and Long Beach want to go beyond existing regulatory requirements with technologies to reduce diesel emissions from harbor craft. A request for proposals is offering $500,000 for technology demonstrations that can upgrade existing engines to EPA Tier 3 or Tier 4 standards.

Tugs, crewboats, barges and other harbor craft are the second-largest source of diesel particulate matter air pollution in San Pedro Bay, comprising 18% of the emissions, and 10% of nitrogen oxide and 6% of greenhouse gas emissions, port ofPicials say. Most boats now meet Tier 2 emission level standards. “We are looking at ways to reduce emissions from harbor craft beyond existing regulatory requirements,” said Heather Tomley, director of environmental planning for the Port of Long Beach. “We need more viable cost effective technologies, and as the

Green Port, we’re going to leverage all of our tools to lead the goods movement industry to a more sustainable future.” The request by the ports under the Technology Advancement Program offers $500,000 ($250,000 from each port) for one or two demonstrations of technologies that will upgrade engines to Tier 3 or Tier 4 standards making engines up to 70% cleaner. Proposals are due by Sept. 21. Reducing emissions from harbor craft is a key strategy in the recently released draft Clean Air Action Plan (CAAP) update, developed

with input during more than 50 public meetings. The harbor commissions of both ports are expected to meet in November to consider the Pinal draft. The CAAP, adopted in 2006, aims to reduce health risks posed by port-related air pollution from ships, locomotives, trucks, terminal equipment and harbor craft. Compared to 2005 levels, the CAAP has helped reduce diesel particulate matter up to 85%, cut nitrogen oxides in half, eliminated 97% of sulfur oxides, and shrunk greenhouse gases an average of 12%.

Thursday August 17, 2017

tauranga port wins industry award he Port of Tauranga has been recognised for its commitment to protecting New Zealanders against biological and biochemical substances. The Biosecurity Operational Excellence at Port of Tauranga scheme was one of the recipients to be recognised as a Biosecurity hero at the 2017 New Zealand Biosecurity Awards. The scheme was implemented in February this year with the goal of pursuing ‘Biosecurity Operational Excellence at the Port of Tauranga. The aim of the scheme is to strengthen MPI’s current screening and inspection programmes, and make everyone involved aware of the common biosecurity risks and how to do their bit to identify and manage those risks. Minister for Primary Industries Nathan Guy says the winners of these inaugural awards have shown a real commitment to protecting New Zealand. “These awards recognise that it is a shared responsibility for all New Zealanders, and celebrate the efforts of people who are doing their bit for biosecurity every day. –CB Report

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port of Los Angeles expands incentive grant program WASHINGTON

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he Port of Los Angeles and other participating Environmental Ship Index (ESI) incentive providers have expanded their rewards programs for vessel operators willing to go above and beyond regulatory standards to cut harmful emissions from ships. Under a new formula that took effect July 1, participating ESI vessel operators are now earning additional incentive points for reducing carbon dioxide (CO2) emissions from their ships.

CO2 is a major source of the heattrapping greenhouse gases that contribute to global warming, and ships are a key source of CO2 emissions from port-related operations. Vessel operators participating in ESI programs already earn points for reducing nitrogen oxides (NOx) and

sulfur oxides (SOx), both key components of smog. The ESI program is among the suite of clean air strategies the Port of Los Angeles has implemented to dramatically reduce vessel emissions between 2005 and 2015. For ships alone, overall diesel particulate matter (DPM) emissions have dropped 87 percent, NOx emissions are down 29 percent, and SOx emissions have plummeted 97 percent, nearing total elimination.

ESI programs use a point system based on fuel purchases, onboard emissions reduction technologies, and a ship’s engine rating according to standards established by the International Maritime Organization (IMO). The total points determine if a ship qualiPies for an incentive grant from a participating port.

Member ports have moved swiftly to implement the new formula because the ESI reporting system already collects the necessary per-

formance data from participating vessel operators to assess a ship’s efPiciency at sea, and by extension, its CO2 emissions. Reduced CO2 emissions are being calculated by comparing a ship’s fuel consumption and the distance sailed each year for 2013, 2014 and 2015 with the same data for 2016. If sailing in 2016 was more efPicient than the baseline years, vessel operators have lowered CO2 emissions and increased their total score.

Typically, vessel operators earn points on a per call basis from each port in the ESI network. Under the new formula, participating operators calling at the Port of Los Angeles that have been entering CO2 data and show an improvement over the baseline years could see these additional points boost their scores as early as September. At the Port of Los Angeles, a vessel with a score of 50 points or higher earns the operator $2,500 per

call, and a score of 40 to 49 is rewarded with $750. In addition to complying with cleaner fuel requirements under the North American Emissions Control Area and the California Air Resources Board and having shore power capability, ships earning 50 points or more typically have engines rated cleaner than IMO Tier 2 engine standards and use cleaner fuel than required by regulation and provides CO2 data. Incentive grants are paid quarterly. Additionally at the Port of Los Angeles, a ship with a Tier III engine is eligible for a $5,000 incentive per call, and vessels participating in an approved Technology Advancement Program demonstration project are eligible for $750 per call. Launched by a collection of Northern European ports in 2011, the ESI program rewards vessel operators for lowering ship emissions beyond international requirements and in advance of pending regulations.

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Wheat worth $967,000 exported in previous financial year KARACHI: Habib Bank Limited (HBL) declared a consolidated profit after tax of Rs15.7 billion for the first half (H1) of 2017 compared to Rs16 billion in H1 2016, with earnings per share of Rs10.56.

Pre-tax profit for the first half of 2017 is Rs27.7 billion. Along with the results, the bank declared a dividend of Rs3.50 per share (35%), bringing the total dividend for the year 2017 to Rs7 (70%). HBL’s deposits have crossed Rs2 trillion, driving a 7.4% growth in the balance sheet, to Rs2.7 trillion.

Thursday August 17, 2017

Business

cM lauds e&t for achieving revenue targets PESHAWAR

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hief Minister Khyber Pakhtunkhwa Pervez Khattak has appreciated the performance of Excise & Taxation Department and Khyber Pakhtunkhwa Revenue Authority (KPRA) for their excellent performance in achieving the targets set by the government during every Piscal year.

He was presiding over the 5th meeting of the policy Council of KPRA at Chief Minister Secretariat Peshawar on Thursday. He approved certain incentives and agreed in principle to reward regulation 2017 that he added would

FIA arrests five pos, two land-route agents LAHORE

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further enhance the performance and capacity building of the department and KPRA. He also empowered the DG

Maple Leaf to raise rs4.28 billion in right issue

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ederal Investigation Agency (FIA) Gujranwala arrested five proclaimed offenders (POs) and two land-route agents from different areas during a crackdown. According to an FIA spokesman, the arested POs include Tariq Waqas, Mudassar alias Kashif, Sikandar Hayat, Muhammad Iqbal, Ghulam Abbas, Zeeshan Rasheed, Rana Sajid and Jehangir Alam. Cases against the culprits were lodged in 2016 and 2017.

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KPRA to get the technical support of the international development partners. He expressed satisfaction over the revenue generation

of the authority.

The council approved the minutes of the previous meeting and the council was briefed about the implementation process on different decisions taken in the previous meeting. The council was informed about the recruitment plan prepared in the light of previous decisions and the recruitment process has been started.

The council was further informed that the draft of the KPRA act was ready which would be put to the authority for approval. It was also briefed about the new website to be ready by September 10 that will given all details of the department and authority and other details related to the revenue generation and other information needed by the general public.

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aple Leaf Cement Factory, the fourth largest cementmaker in Pakistan, has decided to raise Rs4.28 billion from the Pakistan Stock Exchange (PSX) to partially finance the cost of an additional dry process clinker production line. According to a company notice sent to the PSX on Tuesday, the board of directors has recommended to issue 65,966,740 right shares to the ex-

isting ordinary shareholders of the company at a price of Rs65 per share (including a premium of Rs55 per share) in proportion of 12.50 right shares for every 100 ordinary shares held.

With 8.4% share in grey cement market and more than 90% share in white cement market, the company has the highest average retention rate in the industry along with the third lowest cost structure, according to a BMA Capital report. An efficient sales mix along with the ability to operate beyond 100% in the backdrop of healthy

local demand and upcoming 40megawatt coal-based captive power plant through its subsidiary will reduce power cost and provide tax benefit to the company.

Moreover, the 2.3-million-ton expansion project to defend market share, which will come online by the fourth quarter of fiscal year 2019, was also going to help the company, the report added.

The total project cost is estimated at Rs23 billion, which is to be funded by 47.8% debt, 33.5% internal cash generation and 18.7% right share issue.

growers for reducing cotton imports ISLAMABAD

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otton growers have urged the government for providing level playing field to local farmers in order to reduce the import of cotton into the country, which was discouraging the cotton farmers across the country. They said that billion of dollars were being spent annually on the import of the cotton to fulfill the domestic requirements of local industry.

They said that cotton import into the country grew by 46 percent, where as exports reduced by 49 percent during the last fiscal year ended on June 30, 2017. They stressed the need for taking necessary measures to check the import of cotton into the country to stabilize prices of the commodity in the local market to benefit the lint farmers particularly small farmers.

They said that cotton imports into the country grew by 10 percent during last financial year ended on June 30, 2016 as compared to the corresponding period of last year. Talking to APP, President Kissan Ithad Khalid Khokhar urged the government to take appropriate measures to safeguard the interest of local cotton growers. He asked for reducing the cost of production to compete with the international markets and encouraging the farmers to grow more crop and enhance production.

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IMF forewarns china over dangerous growth in debt BEIJING

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hina’s short-term growth outlook has strengthened but there is growing risk of a sharp medium-term adjustment due to reliance on stimulus to meet targets and a credit-expansion path that may be “dangerous”, the International Monetary Fund said on Tuesday. The IMF raised its forecast for

China’s average annual growth from 2018-2020 to 6.4 percent from 6.0 percent and said there is now a greater chance that authorities will meet their target of doubling 2010 real GDP by 2020.

Pakistan may soon be ineligible for World Bank loans But it warned of the consequences to long-term economic health.

The main cost of stronger growth “is further large increases in public and private debt”, the IMF said in its

annual review of China’s economy.

“International experience suggests that China’s current credit trajectory is dangerous with increasing risks of a disruptive adjustment and/or a marked growth slowdown”, the report said.

The IMF estimates that China’s economy would have grown about 5.5 percent annually from 20122016 if credit was expanded at a “sustainable” pace, compared to the average 7.25 percent that it

recorded. “The key policy imperative is to replace precise numerical growth targets with a commitment to reforms that achieve the fastest sustainable growth path.”

The IMF did not see China making much progress on reducing debt, with the report forecasting that its total non-Pinancial sector debt will increase from about 235 percent of gross domestic product (GDP) in 2016 to more than 290 percent by 2022. The Fund projected that

China’s non-Pinancial debt through 2022 will rise “even more strongly” than it forecast a year earlier.

IMF data bloats Pakistan forex reserves by $3bn For this year, the IMF expects China’s economy to grow 6.7 percent, unchanged from a forecast in July, above the government’s target of about 6.5 percent, though growth likely peaked in the first quarter. China’s economy expanded 6.9 percent in the first half of the year.

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Iran’s annual handicrafts exports stand at $250m TEHRAN: A top Iranian official says the Islamic Republic exports $250 million worth of handicrafts each year. “At the moment, the country’s handicrafts exports have tripled, and even inside the country there is a growing interest in handicrafts given the measures adopted,” said Bahman Namvar, a top handicrafts official. “The handicrafts of every country are the first representation of that country’s culture for tourists, and, hence, are very important,” he added, according to a Farsi report by the Mehr News Agency. He said roughly ten percent of the turnover in the country’s handicrafts sector is associated with exhibitions, which not only serve as a forum for economic activity, but also serve as an opportunity to make the public familiar with handicrafts. He said the handicrafts sector can bring in money and create jobs. “Official figures suggest the country’s handicrafts exports stand at $250 million annually.

SSp assures to improve security in markets ISLAMABAD

cuStoMS BuLLetIN report

Thursday August 17, 2017

Chambers

korean companies eager to establish business operation in pakistan

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he business community was playing leading role in the development of the economy and police would take all possible steps to further improve security situation in markets.

This was said by Capt. (r) Muhammad Ilyas, SSP Special Branch while addressing business community at Islamabad Chamber of Commerce and Industry. He was accompanied by Ms. Arsala Saleem, SP Special Branch. Capt. (Redt) Muhammad Ilyas said that ICCI has always lauded the good performance of police which boosted its morale. He was of the view that citizens and police close liaison would be helpful in overcoming crimes and improving law & order situation in the city. Ms. Arsala Saleem, SSP Special Branch said that

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the cooperation and support of citizens was vital to detect crimes and catch criminals. She vowed that police would take all possible steps to establish peaceful environment for business activities. Speaking at the occasion, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry lauded the good efforts of Special Branch for detecting crimes and nabbing criminals in the city. He said Police have cooperated with ICCI members in time of need which showed its positive approach in resolving the issues of business community. He said close cooperation between ICCI and police would help in overcoming crimes and improving security in markets. Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry said that that Islamabad Police was considered best police in Pakistan and hoped that police will play more effective role in improving law & order situation in the city.

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conomic growth of Pakistan has impressed Korean companies and they are eager to establish and develop their business operations here in collaboration with their Pakistani counterparts.

These views were expressed by the Speaker of the South Korean National Assembly Chung Sye Kyun while speaking at the Lahore Chamber of Commerce & Industry. The LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa, Vice President Muhammad Nasir Hameed Khan, Provincial Minister for Industries Sheikh Alauddin and MNA Qaiser Ahmed Sheikh also spoke while Chairman TEVTA Irfan Qaiser Sheikh, Zafar Iqbal Ch., Zeeshan Khalil, Mian Abdul Razzaq, Awais Saeed Piracha, Mian Muhammad Nawaz, Tariq Mahmood, Tahir Manzoor Ch, Syed Mukhtar Ali and members of Korean Parliament were present on the occasion.

Chung Sye Kyun said that Pakistan is blessed with valuable mineral and human resources. He said

that both countries are enjoying good historic relations while a number of Korean companies are already working in Pakistan successfully. He expressed the optimism that the volume of trade between Pakistan and South Korea was bound to increase as both the governments are taking measures to get the desired results. He said that the Korean delegation had a number of high-profile useful meetings with government officials

and representatives of private sector. The LCCI President Abdul Basit said that exchange of parliamentary delegations between Pakistan and Korea is indeed a commendable activity. South Korea is famous for its spectacular rise from under developed economy to developed, high income economy in just a few decades. It has a literacy rate of almost 100%. Its literacy, education and agrarian reforms translated into industrial growth. He said that

rto pays rs315m refund claims in 15 days FAISALABAD

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egional Tax OfPice (RTO) has paid Rs 315 million refund claims during last 15 days while the payment of claims of more than Rs.1 Million would also be paid

by August 15, 2017, said Dr. Muhammad Akram Chief Commissioner Inland Revenue Faisalabad.

Addressing a function in Faisalabad Chamber of Commerce & Industry (FCCI), here today, he said that taxes are lifeline of national economy and without it we could neither run the state machinery nor undertake the development project for the welfare of the masses. He expressed satisfaction that the business community of Faisalabad is fully aware of its national obligations and is also paying their due

shares towards national kitty.

He further said that tax collection is considered as an unholy task but we will try our best to collect it by taking the taxpayers into conPidence and without creating harassment among the business community. He said that generally the tax targets are achieved every year but when the revenue collection dips they have to take extra measures to meet the shortfall. He told that he will try his optimum best to resolve the tax related issues during his tenure as chief commissioner inland revenue. Responding to a question, he said that it is an old story that business community was regarded as tax evaders. “There is a visible and positive change in FBR culture and now we have established an appreciable working relationship between the taxpayers and tax collectors”, he added. Quot-

ing the issue of City Cloth Board, he said that it was resolved immediately and up to the entire satisfaction of the both parties. Regarding tax exemption case of FCCI, he assured that it would be resolve very soon. Responding to yet another question about problems of zero rating, Dr. Akram said that initially the refund claims of electricity, gas and coal were cropped up being a new process but now these have been settled down. It was also disclosed during the meeting that in according to the SOP for these refunds claims, a complicated procedure was to be adopted.

He said that most of the industrialists are handicaps to fulPill these requirements and hence their cases remained pending. In this connection we need policy intervention and he will take up this case with FBR.

education paves the way for innovation and creativity. Industrial growth transformed the living standards for the marginalized group and this is the only way to improve the living standards.

South Korea is one of the most popular destinations for higher studies. We need to enhance relations and liaison with South Korean Universities which will help us in producing hardworking and skilled employees.

LccI supports demands of pharmaceutical industry he Lahore Chamber of Commerce & Industry has appealed to Chief Minister Punjab Shahbaz Sharif to take immediate notice of the miseries of pharmaceutical sector of Punjab and order to resolve their issues on priority. While supporting the cause voiced by the pharmaceutical industry, the LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan said that matter should be resolved at the earliest to protect economic interests of the country.

They said that in recent past, Punjab government made amendments in Punjab Drug Act 2017 against which people from pharmaceutical industry staged a protest in February of this year. –CB Report

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ASO Sukkur seizes NDP smuggled cigarettes & batteries HYDERABAD: The Anti-Smuggling Organization (ASO) Sukkur has impounded foreign origin non-duty-paid 500 smuggled cartons of Pine light cigarettes and foreign origin non-duty-paid 22 batteries valued at Rs1.4million including duties and taxes during an action near Sukkur Bypass during the month of July 2017-18. Smuggled items were being transported into Pakistan. Following the strict guidelines by Hyderabad Customs Collector Akhlaq Ahmad Khattaq, the ASO team conducted various anti-smuggling activities to protect the national exchequer.

Thursday, August 17, 2017

CUSTOMS BULLETIN

Quetta customs seizes 2000 bottles of Iranian juices grease worth rs2.2 million HYDERABAD ASLAM ANJuM QureShI www.customsbulletin.com

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he Customs Intelligence and Investigations continued its action against smuggling during the current month of August.

According to the details, the Directorate General of Customs Intelligence and Investigation Quetta, during a crackdown on smuggling, seized 2,000 bottles of Iranian juices and Iranian grease valued Rs 2.2 million. The diesel was set to be smuggled into different cities of Pakistan. Sources told Customs Today that Deputy Collector Customs Preventive Junaid Mehmood received credible information that some smugglers are trying to smuggle Iranian juices from Quetta into different cities of Pakistan.

He immediately constituted a raiding team. The team enhanced the vigilance on the Bara Market and started the search of vehicles.

After some time, the team intercepted truck bearing registration no: LS-2359 and started checking.

During searching of vehicle, customs team found 2 thousand Bottlesof Irani Juices and 500 boxes of

Iranian white grease . The team asked the owner of the vehicle to

produce legal documents regarding possession and transportation

of diesel but he remained failed.

The team seized the all items and

also impounded the truck and apprehended two diesel traffickers.

NAB committed to curb corruption, says chairman ISLAMABAD

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ational Accountability Bureau (NAB) is basically a complaint oriented organisation for which it has adopted a new initiative named ‘Citizen Friendly NAB’ in order to reach out to the complainants and to cater to their complaints submitted to NAB about corrupt elements. This was disclosed by

NAB Chairman Qamar Zaman Chaudhry while chairing a monthly coordination meeting to review latest progress on the decisions taken in the previous monthly coordination meeting held at NAB headquarters.

The main purpose of “Citizen Friendly NAB” initiative will not only help the complainants to track down the latest status of their complaints submitted to NAB in an effective manner but will also enable NAB to be more transparent and responsive in terms of interaction with complainants and tracking the complaint progress by

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by (Ibne Hassan Offset Printing Press, Shop No. 33 to 36 , Hockey Stadium, Karachi).

using modern technology.

NAB is committed to curbing corruption with an iron hand by adopting zero tolerance policy.

NAB’s proactive National AntiCorruption Strategy is excellent.

The number of complaints, inquiries and investigations are almost double as compared to the same period of 2014 to 2017. The comparative Pigures for the latest three years are indicative of the hard work being put in by all ranks of NAB staff in an atmosphere of renewed energy and dynamism, where Pight against corruption is being taken as a national duty.