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Karachi, Sat March 11, 2017

PESHAWAR

NADIR KHAN

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odal Customs Collectorate Peshawar (MCCP) made a total of Rs1413.73 millions revenue collections in February 2017 against Rs2274.27 millions of February 2016 with total difference of minus Rs860.54 million ru-

pees while the difference in percentage was minus 38.08 percent.

According to statistical section of Peshawar Customs House during the month of February Rs513.17 million collected under the head of customs duty against collection Rs541.55 million of February 2016. The total difference in this sector was recorded minus Rs28.38 million while the difference in percentage was minus

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5.14 percent. In head of sale tax on import, the house collected 373.39 million as compare to 377.73 of February 2016 having difference of minus 4.34 million while the difference in percentage was minus 1.11 percent. Likewise in head of sale tax levied as federal excise duty (FED) on palm oil, the house collected Rs171.52 million in February 2017 against Rs164.22 million of February 2016.

Several items seized in anti-smuggling operations in Balochistan

Govt takes steps to enhance exports of value added products: Senate told

Default ratio in youth loans touches 12pc mark

ASO seizes millions of rupees illegal cigarettes, Vitz car

DG Valuation issues revision of branded battery operated tooth brushes

Under the supervision of Shaukat Ali, DG I&I a grand operation against smuggling | See pAge 02 |

DastgirinformedtheSenatethatseveral stepshavebeentakenunderSTPF2015-18 | See pAge 03 |

Nearly 12 per cent borrowers of the PM Youth Business Loan Scheme | See pAge 04 |

Directorate of Customs ASO has seized million of rupeesToyotaVitz and 51 cartons | See pAge 14 |

DG of Customs Valuation revised the customs value of branded tooth brushes | See pAge 16 |

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Faisalabad ASO impounds Non-Duty Paid Toyota Surf Saturday, March 11, 2017

National

FAISALABAD: The Anti-Smuggling Organization (ASO) has seized foreign origin (F/O) Toyota Surf with registration No: LWQ-918 modelled 1976 worth Rs1.5million involving customs duty and taxes of Rs1.2millions.

Sources told Customs Today that Deputy Collector Muhammad Rizwan received a tip-off regarding some smuggling attempts. He formed an ASO team under the supervision of Superintendent Saeed Akhtar Joiya which also included Inspector Khalid Ashraf Noor, Mehmood Ahmed Dogar, Ali Zahid, Driver Muhammad Khalid Dogar and Muhammad Ashraf and Muhammad Shah Zaib and other sepoys.

Several items seized in anti-smuggling operations in Balochistan

ISLAMABAD

QUETTA

tARIQ DeRYA

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he Member Customs Federal Board of Revenue will preside over a passing-out ceremony of 163 Hawaldar and sepoys at the Model Customs Collectorate Islamabad on Today (Friday). The event will be supervised by MCC and Directorate of Training (DoT) Islamabad.

According to Shahrukh Butt, Customs House Officer (CHO), the Collector MCC, Member HRM, Member Customs, Zahid Kokuhar, will address the passing-out of new appointees. The event will start from 10:00 am and continue till 1:00 pm. The Hawaldars and sepoys had been trained by the Frontier Constabulary for a month whereas new sepoys had been trained under the supervision of the MCC Islamabad for three months. The new appointees have come from different stations i.e. 58 from MCC Islamabad and 45 from MCC Peshawar and 30 from Customs Intelligence Peshawar and 30 from Customs Intelligence Islamabad. At the end of the ceremony the news appointees will be given certificates by Member Customs. Electronic and print media have been invited to attend the event. Refreshment will be served to the new appointees at the end of the function.

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nder the supervision of Shaukat Ali, Director-General Customs Intelligence, a grand operation against smuggling has been launched in Balochistan.

Irfan-ur-Rehman, Director Customs Intelligence Balochistan, has shown outstanding performance and made record seizures of Rs250.773million during February 2017. The Customs Intelligence Quetta seized 386,000 litres of HSD smuggled diesel, 27 NDP luxury vehicles, 70,000 packs of smuggled cigarettes, 696 kg hashish, 14,150 yards smuggled cloths, 588 tyres, 290 blankets, 15,000 kg auto-parts, 237,500 pouches of Gutka (Pan Prag), LED TVs and other miscellaneous goods. The goods will be auctioned off and customs duties and taxes will be deposited into the government exchequer.

Recently, Customs Intelligence raided the Quetta-Chaman Railway train and foiled an attempt to smuggle goods on train from Chaman to Quetta. The train was intercepted at the main Railway station Quetta and goods worth more than Rs10million, including tyres, cosmetics, toiletries, cigarettes, pan prag and spare-parts, were conZiscated with the assistance of senior railway ofZicers. Junior railways staff was also suspended on the suspicion of their involvement in the

member customs presides over passing-out of 163 Hawaldars & sepoys

trafZicking by the DTO Railways Quetta and an inquiry has been also ordered. As a result of the raid, smuggling on train has stopped now. Meanwhile, Model Customs Collectorate Gwadar team recovered huge quantity of narcotics during intelligence base operation (IBO) conducted in Ormara. According to the details, Customs Gwadar authorities received credible information that huge quan-

tity of narcotics being smuggled through sea area. Customs authorities immediately constituted a team.

The team intercepted a coaster bearing registration no. LA-452 coming from Gwadar and were heading towards Hyderabad. During checking the customs team recovered 9 kilograms of Zine quality hashish. The hashish was tactfully hidden in the secret parts of the vehicle. Customs

team arrested two persons who were board of the vehicle. The market value of seized narcotics is Rs1 million. During another operation anti smuggling squad of Gwadar customs raided a godown and recovered 50 cans of non duty paid Iranian brake oil. Customs team asked the owner of the godown to produce legal documents regarding possession of brake oil but he failed to show any legal documents.

multan customs collects Rs.3912.939m during february T

MULTAN

ImRAN ALI

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he Model Customs Collectorate collected Rs3912.939 million revenue against assigned target of Rs.2693 million during month of February.

According to the details, the Model of Customs Collectorate Multan exceeded the revenue collection task for the February due to more import clearances of High Speed

Diesel (HSD). The Collectorate of Multan Customs were assigned different revenue collection tasks under the heads of customs duty, sales tax, federal excise duty (FED) and income tax from Federal Board of Revenue for the month of February.

Multan Customs collected gross revenue of Rs777.633 million against the assigned target of Rs.424 million under the head of customs duty for the month of February. The Model Customs Collectorate Multan has collected excess taxes in terms

of customs duty. The Collectorate of the Multan Customs has poised Rs1964.081 million against as-

signed revenue collection task of Rs.2225 million under the head of sales tax during the month of February. Sales tax collection was dropped at Multan Customs in last few months due to sudden decline in the Sales taxes. Sale tax revenue collection has been reduced due to increase in the local production of High Speed Diesel.

The Model of Customs Collectorate Multan has collected income taxes of Rs20.535 million against the assigned revenue collection of Rs.20

million for the February. Multan Customs has collected Rs22.572 million against the given tasks of Rs24 million under the head of federal excise duty (FED) during month of February. Multan Customs has also collected additional sales taxes of Rs.1.951 million and collected Petroleum Development levy of Rs.1126.167 million for February.

Generally, Multan Customs has surpassed the assigned revenue collection target for the month of February by 45 % excess collection than target.

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Rabab assumes charge of Director Intell. Faisalabad FAISALABAD: Customs Intelligence and Investigation Directorate Director Rabab Sikandar has assumed the charge of BS-20 Director Intelligence and Investigation Faisalabad.aSources told Customs Today that the Director Intelligence in pursuance of the Federal Board of Revenue’s notification No: 0572-C-1/2017 has relinquished the charge of the post of Director (BS-19) OPS Directorate of Intelligence and Investigation FBR Faisalabad on 25-2-2017 and assumed the charge of the office of Director BS-20) Directorate of Intelligence and Investigation FBR Faisalabad. It is important to mention here that the post of director at the Faisalabad intelligence was vacant and the Federal Board of Revenue.

two-day international Smes conference to start on march 15

Saturday March 11, 2017

National

govt takes steps to enhance exports of value added products: Senate told

LAHORE

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fter successful manifestation of the first National SME Conference last year, the Small and Medium Enterprises Development Authority (SMEDA) will hold a two-day International SME Conference this year on March 15-16 here. The conference would be attended by delegates from the USA, UK, Turkey, Japan, Italy, Malaysia, Netherland, Germany, the SMEDA sources said here on Thursday. Ghulam Murtaza Khan Jatoi, Federal Minster Industries and Production, would be chief guest.

The other diginagories to be attending the conference include Khizar Hayat Gondal, Federal Secretary Industries and Production, Dr Mukhtar Ahmed, Chairman HEC, Dr Hassan Sohaib Murad.

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Rabab assumes charge of Director Intell. faisalabad FAISALABAD

NAeem SHeIKH

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ustoms Intelligence and Investigation Directorate Director Rabab Sikandar has assumed the charge of BS-20 Director Intelligence and Investigation Faisalabad. Sources told Customs Today that the Director Intelligence in pursuance of the Federal Board of Revenue’s notification No: 0572-C1/2017 has relinquished the charge of the post of Director (BS-19) OPS Directorate of Intelligence and Investigation FBR Faisalabad on 25-2-2017 and assumed the charge of the office of Director BS-20) Directorate of Intelligence and Investigation FBR Faisalabad. It is important to mention here that the post of director at the Faisalabad intelligence was vacant and the Federal Board of Revenue has selected one of the most competent officers for the vacant post of director at Faisalabad Customs to accomplish its revenue tasks.

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ISLAMABAD

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inister for Commerce Engr. Khurram Dastgir Khan informed the Senate that several steps have been taken under Strategic Trade Policy Framework (STPF) 2015-18 to enhance exports of value added products.

In a written reply, the minister informed the Senate that technology up-gradation support was provided in the shape of investment and mark-up support to industries related fans, home appliances, rice, cutlery and sports goods.

He said that 20% investment support upto a maximum of Rs1 million per annum per company will be available for import of new plant and machinery.

He added 50% of markup support on up-gradation of technology will be provided for import of new machinery/plant, subject to a maximum of Rs1 million per annum per company. He said that matching grant upto a maximum of Rs5 million for speciZied plant and machinery or speciZied items to improve product design and encourage innovation in SMEs and export sectoRsof leather, pharmaceutical and Zisheries. He said that Common Facility Center for Surgical goods will be established while facilitation and support was provided for the branding and certiZication of the SME and

export sector through intellectual property registration, certiZication and accreditation. He said that to reduce the wastage of produce, several measures were undertaken in the selected agriculture sectoRsincluding 50% support on the cost of imported new plant and machinery for speciZied under-developed regions and 100% mark-up support on the cost of imported new plant and machinery on all Pakistan basis.

He said that Prime Minister’s

He said that matching grant upto a maximum of Rs5 million for specified plant and machinery or specified items to improve product design and encourage innovation in Smes and export sectoRsof leather, pharmaceutical and fisheries

uS to invest Rs15.6b in Sme sector

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ISLAMABAD

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www.customsbulletin.com he US government has investing Rs 15.6 billion in small and medium-sized business in partnership with three investment funds under the Pakistan Private Investment Initiative (PPII) programme. Under the Pakistan Private Investment Initiative (PPII) a programme of the US agency for International Development (USAID), the US is capitalizing on the expertise

of these investment funds to make investments decision that will, spur economic growth and generate profits for investors.

The USAID mission director for Pakistan John Groarke announced here Thursday that all three private equity funds established under the PPII are making investments. He said, PPII design is unique in partnering with local investment Zirms to support the SME sector to growth and thrive, with the matching contribution from the three partner in-

vestment Zirms. PPII is eventually going to make more than 15.6 billion Pakistani Rs in equity Zinancing available to selected SMEs, this clearly demonstrates the interest of private equity Zirms and the value of investing in Pakistan, he added. John said, United States is the largest trading partner for Pakistan, with total bilateral trade volume of Pakistan’s annual exports now Zind a market, and there is potential to further enhance these trades volume and partnership initiatives.

Trade Enhancement Package has provided zero rating of machinery imports and drawback of taxes, cascaded in terms of value addition, to encourage exports of the valueadded goods. He said that several incentives have been introduced in the STPF 2015-18 for the development of rice export including while 20% investment support upto a maximum of Rs1 million per annum per company will be available for import of new plant and machinery.

fIA arrests 10 human traffickers he Federal Investigation Agency (FIA) has arrested 10 human traffickers from Gujranwala division. FIA Deputy Director Khalid Anees said the accused were arrested from Sialkot, Narowal, Gujrat, Mandi Bahauddin, Hafizabad and Gujranwala district during an ongoing crackdown. Those arrested were identified as Majid, Riaz, Ansar, Muazzam, Kashif and Zulfiqar.

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Kuwait agrees to build oil pipeline in Pakistan ISLAMABAD: Kuwait has agreed to pour millions of dollars into building a white oil pipeline from Pakistan’s south to north for transporting petroleum products from the port city of Karachi to major consumer Punjab.

“During a recent visit to Kuwait, Pakistani officials invited the Gulf oil producer to set up an oil refinery in Balochistan and lay a white oil pipeline; its response was very positive and a high-level Kuwaiti delegation will arrive in Pakistan to discuss the two projects,” said an official aware of the development.

Saturday March 11, 2017

Business

Default ratio in youth loans touches 12% mark ISLAMABAD

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early 12 per cent borrowers of the Prime Minister’s Youth Business Loan Scheme have so far defaulted on their payments, marring ofZicials’ efforts to overcome administrative and Zinancial challenges.

The default ratio increased and the National Bank of Pakistan so far sent more than 850 cases to the Credit Information Bureau (CIB), Senior Executive Vice-President and head of NBP’s commercial and retail banking Mudassir Khan said.

Mudassir was talking with media persons along with Chairperson of

Bank deposits plunge by 4.2% to Rs10.73t KARACHI

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he deposits of the banking system have decreased by 4.2 percent to Rs10.73 trillion by end of February 2017 as compared with Rs11.2 trillion when compared with December 31, 2016.

According to data released by State Bank of Pakistan (SBP) on Tuesday the deposits by end February 2017 are higher than the stock of Rs9.38 trillion as on February 2016. Banking experts attributed it to seasonal decline saying that banks accumulate deposits in the month of December to improve their balance sheets.

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PMYBL scheme programme Leila Khan. The NBP had so far disbursed 17,051 loans worth Rs17.1 billion: this meant that more than 2,000

persons had actually defaulted on their obligations. The default ratio is twice the earlier reported Zigure of six per cent.

‘people want to get away from riba-based economy’

Millions embezzled in PM’s loan scheme The NBP bears the entire burden of the default cost, except for the five percent picked up by the government. The bank had urged the government to bear half the default cost, this was not accepted. According to NBP’s Executive Vice-President Zubair Mirza, the default ratio was inching up. He expressed the hope that the figure was expected to decline to around eight percent by the end of this month. Leila Khan said that the 12 per cent ratio was “significantly lower” than the industry’s average of 27 per cent defaults in small business loans. The repayment of loans is scheduled to start after a year-long grace period. The government is subsidising the borrowers’ cost.

ABBOTABAD

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he Islamic mode of financing has grown in the last couple of years and is taking a major share from the capital market, said Zafar Abdullah, commissioner for the Securities and Exchange Commission of Pakistan’s specialised division. Addressing as the chief guest at the opening ceremony of Islamic Finance Centre, he said a forceful and scientific campaign should be launched to create awareness among the general public through print and electronic media and academies. Small and medium enterprises could be the major beneficiary of the modaraba and other Islamic equities, he stressed.

The event was arranged by non-banking financial institutions and the Modaraba Association of Pakistan, and was attended by office-bearers of traders’ associations, Small and Medium Enterprises Development Authority, potential investors, bankers and officials of modaraba companies.

Mr Abdullah said businessman should tap the halal food market to run small- and large-scale set-ups with the help of modaraba companies. He informed the participants that the capitalisation of Islamic financing has grown from 12 per cent in 2012 to 37pc, which indicated that the public preferred to get away from a ribabased economy.

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power cost rises 25% with heavy reliance on oil-based plants T

KARACHI

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he cost of electricity production rose 25% in January following higher generation by expensive oil-Zired plants and lower output from hydroelectric power plants. Average cost of power production came in at Rs6.39 per kilowatt-hour in January 2017 compared to Rs5.13 in December 2016.

The cost was also lower at Rs5.53 in January 2016, according to data released by the power sector regula-

tor. The National Electric Power Regulatory Authority (Nepra) has reported that the share of furnace oil-based power production increased to 43% (3,005 gigawatthours) in the total output in January 2017 from 37.13% (2,673 GWh) in December 2016. In January last year, the production stood higher at 50% (3,387 GWh).

In comparison, zero-cost hydroelectric power generation dropped to mere 7.40% in January 2017 compared to 22.82% in December 2016 and 12% in January 2016. In November 2016, the output was

even higher at 41%.

“Low water availability during winter badly impacted production from hydroelectric power plants in January this year,” commented an analyst. Topline Securities analyst Hashim Sohail said, in a note to clients, hydel generation remained subdued as seasonality factor kicked in because of lower water levels in the winter season.

Nuclear power production doubled to 8% in the overall electricity output in January 2017 against 4% in the same month in 2016. It stood at 6% in December 2016.

uS disburses $550 million under cSf to pakistan ISLAMABAD

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he United States has disbursed $550 million under the Coalition Support Fund (CSF) grant to Pakistan, rekindling Islamabad’s hopes for a better external account position that had come under stress due to delay in release of the money.

The Trump administration trans-

ferred the funds this month with a fresh tranche of $200 million coming early this week, said an ofZicial of the Zinance ministry. However, despite the beginning of the process of release of CSF funds, it is unlikely that Islamabad will get $1.65 billion in CSF disbursements before the end of June.

The Zinance ministry had projected $1.65 billion receipts from Washington on account of CSF when making the budget for the current

Ziscal year. The government expects to receive at least another $400 million but there is no surety that Washington will disburse this amount on time.

Pakistan’s ambassador-designate to the US Aizaz Ahmad Chaudhry met Finance Minister Ishaq Dar on Thursday before his departure for Washington. Dar asked Chaudhry to put efforts for further augmenting Pak-US economic cooperation and trade. Although the $550 million

appears a small sum for a $300 billion economy, it still matters a lot due to Islamabad’s dependence on external dole-outs.

The $1.65 billion or Rs170 billion are part of the government’s non-tax revenues and any shortfall against these estimates would widen the budget deZicit by the same amount, which will force the government to borrow from the banks. In the last Ziscal year too, Pakistan received roughly $1 billion

from the US against its budget estimates of $1.7 billion. US Senate panel clears bill to block $300m military aid to Pakistan The CSF disbursements are also very crucial for building foreign currency reserves, maintaining dollar-rupee exchange rate parity and lessening strains on the external accounts. During the week ending on March 3, SBP’s reserves increased by $289 million to $17.14 billion, announced the central bank on Thursday.

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Saturday, March 11, 2017

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ISLAMABAD

m fAIZAN

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irectorate General of Customs Intelligence and Investigation Federal Board of Revenue has surpassed all previous records of achievements in a single month by seizing non duty paid goods and vehicle worth Rs3,882.62 million.

According to the details, during the month of February 2017 Directorate General I&I has seized miscellaneous goods amounting to Rs1,132.62 million, detected evasion of duty and taxes cases worth Rs2,749.94 million and lodged 20 FIRs. Sources said that during the month of February 2016,Directorate General (I&I) had seized the different goods worth Rs748.99 million and detected evasion of duty and taxes Rs. 63.67 million.

These Zigures showed that Directorate General Customs Intelligence and Investigations showed outstanding performance during the month of February 2017 as compared with the performance of previous year. It is necessary to mention here that this is best ever performance showed by the Directorate

General Customs Intelligence and Investigations in a single month Special Assistant to Prime Minister on Revenue Haroon Akhtar and Chairman Federal Board of Revenue Dr. Muhammad Irshad has lauded the performance of the Directorate and held it exemplary for other departments.

According to the FBR

sources, Director General I&I Shaukat Ali has submit the monthly performance report to the chairman FBR with due sense of pride. According to this report Director General Shaukat Ali has said that, major contributors to the aforestated outstanding performance were Lahore, Quetta and Peshawar Directorates. However, the Lahore Directorate (due to the fearless operations conducted by Deputy Director Ali Zeb Khan and personally supervised by Director Zeba Hai Azhar) stood out in terms of volume and importance of seizures and detections. The case of M/s Marush International, the Zirst of its kind detected by any Zield formation of FBR in terms of unearthing of evidences on money laundering, was affected by director, Lahore and her team which deserves to be duly appreciated as the same has ized e s brought lot of good name s a h al I&I o to FBR as well as the Dir t e g n n e i unt ate g o r rectorate General. She, m y o t t a c du ds D i re s goo along with her team also ion of u s o a e v n e lla n ted o c i detected evasion of an l e l t i e misce m ,d 49.94 amount of Rs. 2531.49 illion 7 , m 2 s 2 R 6 2. or th million against the above Rs113 ases w c s 0 fIRs e mentioned importer. x ged 2 d ta

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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

eco: path to regional integration

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he delegates at the Economic Cooperation Organisation Summit, including five heads of state and three heads of government, have expressed the resolve to work together for the collective benefit of the people in the ECO region. All the member states of the organizations are facing various economic challenges and the high profile get together provides an opportunity to enhance mutual cooperation and resolve the issues among them. The member states have appreciated the China-Pakistan Economic Corridor,terming it a far-reaching initiative which will work as a catalyst for development of the entire region.It is a good omen that the presidents of Iran, Turkey, Azerbaijan, Turkmenistan and Tajikistan, as well as the prime ministers of Kyrgyzstan and Kazakhstan and deputy prime minister of Uzbekistan participated in the summit, but unfortunately Afghanistan has lost a best opportunity to plead its case at the international forum and is busy in hurling “threatening requests” to Pakistan to open its border with Afghanistan. It is the unfortunate part of the country which voted against Pakistan to block its entry into the United Nations and its leadership did not mend its ways decades after starting hostile attitude against Pakistan at the behest of India.

However, the leaders participating in the summit reiterated their political commitment to achieve mutual aims and objectives and they joined hands for peace, stability, economic development, prosperity and regional integration among the member countries. The delegates adopted the Vision 2025 and reviewed their goals which were laid down in the post 2015 Development Agenda.At the home front, the political leaders in Islamabad are crediting the government for perusing Afghanistan not to boycott the summit, but the participation of that country through a lower rank official is not only an insult to the diplomatic norms but also for the whole member states of the organizations. Islamabad would have allowed Afghanistan to suffer in isolation in the regional perspective until their leaders come to reasons. The summit expressed concern over unresolved issues between Armenia and Azerbaijan, but failed to mention anything about Kashmir which shows how the country is defensive in its foreign policy.

problems of leather industry A

LAHORE

DR AftAB AfZAL

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ccording to a senior official of the Pakistan Tannery Association, at least 95 percent entrepreneurs will not be able to avail benefit of the incentives announced by Prime Minister Nawaz Sharif in the export package. The government has so far failed to provide infrastructure to protect and process hides and scientifically dispose of the effluents to protect environment. The tannery industry is already in trouble and last year it suffered a loss of Rs 1.5 billion as hides of sacrificial animals could not be protected from excessive heat

and were damaged. The experts believe the country has potential to earn more than $3 billion annually if tannery industry is developed on modern lines and the government works out a preferential status for it. There are over 450 leather garments manufacturing units in the country which produce millions of pieces annually. The leather industry’s current capacity revolves around producing 100 million pairs of footwear annually against a production capacity of 200 million pairs. The leather sector is one of the leading job providing and earning sectors in the country. At least 800 tanneries and half a million people are engaged with it.

According to the official, the

current exports of leather products stand at $195 million as compared to the corresponding period of the year 201516 in which it earned $211 million, and is showing a decline of around 7.5 percent.

The overall leather exports have declined by 26 percent which means the country has lost a quarter of its exports in one year. The experts believe the cost of doing business is rising and the industry is unable to compete with the other countries in the region in the international market. The Rs 180 billion export package announced by the prime minister is a welcome step, but too late and is regarded as ineffective as all the major relevant HS codes have

been missed in SRO 62 (1)/2017issued on February 2 2017. A month as passed but the ministry of commerce has failed to rectify it despite reminders by the stakeholders.

There is no doubt in the good intentions of the government as the export package has been announced for the benefit of the exporters and not for political reasons. However, apart from announcing the package, the government should also release export rebates as well as sales tax refund claims in time to keep the wheel of industry in running mode. The Pakistani entrepreneurs are also need to introduce their own fashion brands to ensure their presence in the international market.

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Cvilux 2016 revenues up 1.81% on year WASHINGTON: Electronic connector maker Cvilux posted consolidated revenues of NT$2.59 billion (US$81.6 million) for 2016, inching up 1.81% on year. Among applications, notebooks accounted for 28% of consolidated revenues, networking/communication devices 19.7%, industrial electronics 25.5%, optoelectronics 12.0%, consumer electronics 8.4% and automotive components for 6.4%, according to the company. For 2017, the company expects its network/communication devices, industrial electronics and automotive component businesses to all enjoy double-digit percentage growths on year. Cvilux’s clients for the automotive components include BMW, Mercedes-Benz and Chrysler, while its industrial electronics products are enjoying gross margins at above 30%, according to market watchers. Cvilux’s USB Type-C Gen2 products were already certified by USB IF in January and the company has already started sending samples to clients for testing.

RccI and pHD chamber organized five day exhibition RAWALPINDI

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he Rawalpindi Chamber of Commerce and Industry (RCCI) in association with the PHD Chamber of Commerce and Industry (PHDCCI) organized a five day South Asia Consumer Fair and Trade expo 2017 at Jalandhar India. More than 70 exhibitors from Pakistan, India, Bangladesh, Thailand, Afghanistan and Central Asian Countries participated in the event. Handicrafts, gems and Jewelry, handmade garments, Shawls, textile products, leather garments, furniture and food stalls were the key attractions in the five day fair started

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on February 16. President Raja Amer Iqbal and Chairman PHD chamber RS Sachdeva inaugurated the fair in a colorful ceremony. While appreciating the efforts of the PHD Chamber, Raja Amer Iqbal said such trade expositions will not only increase business, but also help India and Pakistan get to know the culture of each other better.

He expressed hope that PHD chamber will work effectively in resolving nontariff barriers (NTB) with Indian Government. India has given status of most favoured nation (MFN) to Pakistan but this will not work until removing NTBs, he added. He said promoting trade activities is the prime objective of RCCI and such exhibitions are part of the continuity.

RS Sachdeva on this occasion appreciated the role of RCCI in promoting regional trade and said that there are tremendous opportunities to increase bilateral trade between Pakistan and India. He said that purpose of this exhibition was to promote trade ties and increase exchange of delegation at chambers level.

Saturday March 11, 2017

Chambers

governor assures to call a meeting between KccI, fBR soon G

KARACHI

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overnor Sindh Muhammad Zubair has assured that a meeting between Karachi Chamber of Commerce and Industry (KCCI) and chairman Federal Board of Revenue (FBR) along with other relevant ofZicials will be called soon at Governor House in order to discuss and resolve the issues being faced by the business and industrial community of Karachi due to massive discretionary powers and constant harassment by FBR ofZicers.

Governor Sindh gave the assurance to a delegation of Karachi Chamber, which was led by Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli during a meeting at Governor House on Tuesday.

Besides Siraj Teli, KCCI delegation also comprised of Vice Chairman BMG Tahir Khaliq, President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Former Presidents KCCI AQ Khalil, M. Haroon Bari, Haroon Agar & Younus Muhammad Bashir, Chair-

man Special Committee for Small Traders-KCCI Majeed Memon, Chairman Special Committee for My Karachi Exhibition Muhammad Idrees and Former Vice President KCCI Nasir Mehmood.

KCCI delegation, while expressing deep gratitude to Governor Sindh for holding candid discussions, said that they were really impressed to listen to Governor’s thought-provoking ideas and prudent opinion on how to create an

enabling business environment and improve the standard of living in Karachi, which is the Zinancial and industrial hub of Pakistan.

They appreciated Governor’s full support and cooperation to Karachi Chamber and assured the same from KCCI’s platform. “We highly admire your willingness to take up some of the most critical taxationrelated issues with FBR and numerous other issues with concerned quarters at the federal level”, they

Bcc slams Spring Budget for sending ‘mixed signals’ and business rate easing

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LONDON

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he director general of the British Chambers of Commerce has criticised the government for sending “mixed signals” in Wednesday’s Spring Budget and has criticised measures to alleviate the pressures of business rates as far too weak. Adam Marshall said that, however welcome, “measures that mitigate the short-term impact of business rate rises are little more than a sticking plaster”. “The radical changes needed to improve the broken business rates system will have to wait for another day,” he said.

“The campaign for radical reform – and an end to punishing levels of business property tax to ensure the

Treasury raises enough to fund local services – continues.”

On Wednesday, Chancellor Philip Hammond announced three measures designed to ease the burden of business rates across the country, amounting to cuts of £435m. He said that any business coming out of small business rate relief would beneZit from a cap which prevents the rate that it pays from going up by more than £50 per month. He also announced that the government would provide a £1,000 discount on business rates bills for all pubs with a rateable value of less than £100,000, and that the government would provide local authorities with a £300m fund, to “deliver discretionary relief” in local areas.

“Taken together, this is a further £435m cut […] targeted at those

small businesses facing the biggest increases, protecting our pubs and giving local authorities the resources to respond Zlexibly to local circumstances,” Mr Hammond said.

A host of business lobby groups, including the CBI, the British Chambers of Commerce and the Institute of Directors, previously claimed hundreds of thousands of retailers, from shops to cafes to hotels, would be facing massive and unfair tax increases. Mr Marshall on Wednesday insisted that the Chancellor’s plan does not go far enough to support businesses of all sizes at a crucial time for the economy. “More needs to be done in the coming months to improve infrastructure and encourage lagging business investment to ensure the UK is Brexit-ready,” he said.

added. KCCI delegation drew the attention of Governor Sindh towards constant harassment being suffered by the business and industrial community of Karachi because of massive discretionary powers conferred to FBR ofZicials even at lower level.

Unnecessary raids were being conducted to harass businessmen and industrialists whereas the situation has terribly shattered the conZidence of entire business community, they added.

KCCI delegation also invited Governor Sindh to inaugurate Karachi Chamber’s 14th My Karachi Oasis of Harmony Exhibition scheduled to start at the Expo Center from April 7, 2017. They informed that this three-day long event was regularly being organized since 2004 when Chairman BMG Siraj Teli came up with a brilliant idea to promote the positive and soft image of Karachi. With the passage of time, My Karachi Exhibition has succeeded in earning nationwide and international recognition and it was a matter of pride that My Karachi Exhibition was being attended by more than 1 million visitors every year, they added.

cIBc offers canada’s best bank dividend ne of the downfalls with the recent move in North American banks is their dividend yields are becoming more depressed. It used to be easy to get 4% yields from Canada’s largest banks. It’s almost impossible now. There’s only one major Canadian bank that still offers a yield higher than 4%, which is Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM).

After today’s dividend increase, shares yield 4.3%. Many investors are nervous about CIBC because the bank is the most Canada-centric of the five major Canadian banks. All of its peers have major operations abroad mostly in the United States. CIBC doesn’t, although it is trying to change that.

It proposed buying Chicago-based PrivateBancorp in June. –CB Report

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AFU surpasses collection target by Rs01million Saturday March 11, 2017

National court grants one-day physical remand of ex-Dg NADRA ISLAMABAD

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ISLAMABAD: The Air Freight Unit (AFU) Islamabad achieved its assigned target for month of February FY2016-17 as it collected Rs186million against the assigned the target of Rs185 million Customs Duty. According to Additional Collector AFU, the collectorate revised the target of February FY2016-17 under the head of Customs Duty as AFU’s revenue activity stopped during long holidays of China. During December the AFU generated Rs124.68million CD. During November FY16-17 the AFU collected revenue of Rs126.71 million. The AFU received Rs121.68million revenue during September whereas it collected revenue of Rs145.24 million during August and did Rs95.16million CD during July FY16-17.

customs tribunal chairman proceeded cases for four days C

ISLAMABAD

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Special Court Central Thursday granted one-day physical remand of former Director General (DG) NADRA Tahir Akram to Federal Investigation Agency (FIA) in a case of alleged corruption. Special Judge Central Malik Nazir heard the case against Akram regarding alleged embezzlement of funds in affairs of rented building of National Database Registration Authority (NADRA). During proceeding, the FIA official requested the court to grant further physical remand of accused to complete the investigation process. However, the counsel for former DG NADRA, Ilyas Saddiqui Advocate contradicted the FIA stance and argued that the FIA had already been granted six days remand of his client but no development was witnessed in the case. After hearing the argument, the court reserved its verdict and later granted one-day physical remand of the accused.

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faisalabad fIA arrests notorious human trafficker he Federal Investigation Agency (FIA) Faisalabad has arrested a human trafficker named Shakoor Ahmed son of Zulfiqar Ahmed. The alleged accused belongs to Chak No: 288/GB,Toba Tek Singh.

Sources told Customs Today that FIA Deputy Director Syed Imam Zaidi and Sub-Inspectors Taimoor Haider and Abbas Bajwa conducted a raid on the den of the accused running an illegal business of sending innocent people abroad after gulling amounts from them. The accused also gulled Rs 350000 from a complainant for sending him to Malaysia. The FIA recovered original Pakistani passport and some copies of other passports from his possession. –CB Report

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ustoms Appellate Tribunal Chairman Justice (r) Malik Manzoor Hussain concluded his four-day visit to tribunal’s headquarters on Thursday.

The chairman had resumed the hearing of cases on Monday and continued it till Thursday. He headed tribunal’s proceedings for four days at Islamabad where he heard cases besides performing some of important administrative tasks. He heard cases on single and division benches during his stay.

The chairman had reserved the decisions on several cases while adjourned hearing on many others while hearing cases as single bench and on a division bench along with member Ziauddin Wazir.

Chairman Justice (r) Manzoor Hussain and Ziaudding Wazir reserved decisions on cases Ziled by M/s Trade Master, M/s Waseem Autos, M/s Nisar Traders, M/s Parts and Parts, M/s Chief Autos, M/s Aman Elahi and M/s Kohinoor Traders. M/s Trade Master had Ziled the case

against MCC only. All of other appellants had Ziled cases against DGI&I. M/s Kohinoor Traders had Ziled two cases against DGI&I Islamabad. The tribunal had also reserved the decision on M/s Wahid Hamid the day before yesterday. It had Ziled a case against the MCC Peshawar for auc-

tioning imported items despite the tribunal had announced a decision for handing over the items to them.

Chairman Justice (R) Malik Manzoor Hussain also held hearing on cases Ziled against Directorate General of Investigation and Intelligence Islamabad and Model Collectorate of Customs Islamabad and Peshawar. M/s Pakistan Royal Group, M/s Irfanullah and M/s Charisma Catering Islamabad had Ziled these cases. The appellants had Ziled cases challenging the announcements made by the DGI&I Islamabad. All three cases were Ziled in 2016. M/s Pakistan Royal Group and M/s Charisma Catering Islamabad had asked the tribunal to direct the department to hand over the imported items to them which were allegedly conZiscated by the customs authorities on the charge of smuggling.

customs, police seizes smuggled Iranian diesel T

KARACHI

S R KHAN

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he Anti-Smuggling Organization of Customs Preventive with the collaboration of Mochko Police has foiled a bid of smuggling Irani diesel in the area of Mochko. According to details, the ASO team received an information that huge quantity of Iranian diesel is being smuggled from National Highway to the city and then move to other parts of the country.

On a tip-off, a team of ASO with the support of area police has Zield their ofZicers at Mochko CheckPost and during the checking, the authorities signalled a truck to stop and upon its checking it was found that it contains smuggled Irani diesel concealing into the hidden cavities of the truck.

The Customs authorities informed Customs Today that 1000 liters of Irani diesel has been found from the hidden cavities of the truck, adding that the truck driver namely Dad Muhammad has been arrested from the spot.

The sources further informed Customs Today that the investigation is being continued with the

arrested driver in order to reach to the real culprits of smuggled Irani diesel. The authorities fur-

ther said that the seized diesel has millions of rupees cost in international market.

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Faisalabad FIA arrests notorious human trafficker FAISALABAD: The Federal Investigation Agency (FIA) Faisalabad has arrested a human trafficker named Shakoor Ahmed son of Zulfiqar Ahmed. The alleged accused belongs to Chak No: 288/GB,Toba Tek Singh.

Sources told Customs Today that FIA Deputy Director Syed Imam Zaidi and Sub-Inspectors Taimoor Haider and Abbas Bajwa conducted a raid on the den of the accused running an illegal business of sending innocent people abroad after gulling amounts from them. The accused also gulled Rs 350000 from a complainant for sending him to Malaysia.

The FIA recovered original Pakistani passport and some copies of other passports from his possession.

main accused in illegally imported dry milk seizure joins investigation LAHORE

m HAYAt

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ain accused in Rs63 million illegally imported skimmed milk seizure joined investigations after getting his pre- arrest bail, sources told Customs Today. As per details main accused Malik Zahid joined investigations after his pre –arrest bail.

Official sources said that a huge nexus will be broken as the investigations are likely to reveal major names in the case. Collectorate of Customs AntiSmuggling Organization last week seized mega Rs63 million non-customs paid dry milk from a godown in a rice mill near Muridkay while samples of

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the milk were sent to forensic laboratory to know the harmful impact of the milk on human health if there is any.

Customs ASO observed unusual movements for about one month and after being fully satisfied, the ASO team raided the godown and recovered 9300 bags of non-customs paid dry milk.

Each bag was containing 25 kilograms of the dry milk while the milk was being supplied to the ice cream companies and dairies. It was informed that the milk was being illegally imported from Iran, the US, Poland, Turkey, NATO and other countries on thrown away prices and supplied to the local market and even to the other cities like Okara, Kasur, Gujranwala.

The sources added that customs authorities raided the godown on information and directions of Collector of Customs Preventive Zulfiqar Younas and initially the 50 trucks of illegal dry milk were shifted to the State Warehouse while more quantity was being transported to the warehouse.

National

IHc to hear tax matter filed by m/s Halmore power generation I

ISLAMABAD

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slamabad High Court will hear M/s Halmore Power Generation’s tax matter.

M/s Halmore Power Generation had challenged a show cause notice issued by additional commissioner Inland Revenue, Islamabad. IHC bench, comprising Justice Miangul Hassan Aurangzeb would hear the matter recently Ziled with IHC. M/s Halmore Power Generation had Ziled case against RTO, Islamabad. Appellate Tribunal Inland Revenue (ATIR), Federal Board of Revenue (FBR), ofZicers of RTO including commissioner Inland Revenue, Deputy Commissioner Inland Revenue and commissioner Inland Revenue (Appeals) were made respondent in the case.

M/s Halmore Power Generation had Ziled the case seeking restrictions for RTO, Islamabad about recovering outstanding tax amount or making any other coercive move prior to court’s directions on the issue. M/s Halmore Power Generation also stated that show cause notice mentioning outstanding tax amount was issued with mala-Zide inten-

tions. The appellant further prayed the court bar RTO from taking coercive measure to recover the said amount. M/s Halmore Power Generation submitted before the court that the impugned order was issued under mala-Zide 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 de-

Saturday March 11, 2017

partment in issuing the order.

M/s Halmore Power Generation had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not addressed grievances of the appellant. M/s Halmore Power Generation had also prayed the court to decide the case early as the appellant had to bear Zinancial complications after the tax case.

mianwali ASo seizes black peppers FAISALABAD

NAeem SHeIKH

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he Anti-Smuggling Organization (ASO) Mianwali has confiscated foreign origin (F/O) black peppers worth Rs1.9million involving duty and taxes of Rs674188 during an action.

Deputy Collector Muhammad Rizwan received a tip-off that smuggled items were being smuggled into the country without payment of duty and taxes on which he formed a team. The ASO team intercepted a Mazda truck with Registration No: Z7127 which was coming from Peshawar to Sara-e-Muhajir near Dagil, district Bhakkar, and recovered (80-bags) of foreign origin (F/O) black peppers. The team asked driver named Izzat Ullah son of Hazrat Ullah, a resident of district Mipur, to produce documents regarding the legal import of the items. He showed a receipt No: 6785 dated 1-2-2107 as the name of consigner and consignee Diamond Trading Multan but could not show documents of legal import of the items. The team impounded the items besides registering a case against him. The raiding party comprised Superintendent Chaudhary Sardar Muhammad, Muhammad Umar Bhatti and Inspector Azhar Hussain Jafari, Driver Riasat Hussain, Sepoys Faiz Ahmad, Sher Ahmad and Muhammad Abdullah.

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Dg Valuation revises customs value of aluminum utensils

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KARACHI

wAQAR AHmeD ANSARI www.customsbulletin.com

he Directorate General of Customs Valuation has revised the customs value of aluminum utensils (PCT 7615.1000) through Valuation Ruling No 1060/2017 under Section 25A of the Customs Act, 1969.

According to details, a representation was received from the Gujranwala Chamber of Commerce and Industry that aluminum utensils are being assessed at lower values compared to the component costs and international trading prices.

The Directorate General initiated

an exercise to examine the issue under Section 25Aof the Customs Act, 1969 and determine the customs values of aluminum utensils in order to bring them in line with current price trend in the international market. Meetings with stakeholders and Gujranwala Chamber of Commerce and Industry were scheduled on 0902¬2017 & 14-02-2017 but only representative from Gujranwala Chamber of Commerce and Industry attended the meetings. None of the importers attended the meetings All the stakeholders were requested to submit the following documents so that correct customs values could be determined invoices of imports during last three months showing

factual value, websites, names and 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, and copies of Sales Tax Invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the beneZit of difference in price is passed on to the local buyers.

The requisite documents were not submitted by any importer to substantiate their declarations therefore the matter could not be further pended. Valuation methods given in

Section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand. Transaction Value Method under sub-section (1) of Section 25 of the Act ibid was found inapplicable because required information under the law was not available. Meanwhile, The Directorate General of Customs Valuation issued the reference values for electric soup kettle 800W and STD/LED heat gun (1800 watts). According to details, the Directorate General initiated an exercise to develop database values for different items wherein it has been observed that declarations are of wide range and do not correctly reZlect values of the items as traded in the international market.

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Dhaka Stock Exchange net income falls 11 percent Saturday March 11, 2017

World

DHAKA: Dhaka Stock Exchange’s net income dropped more than 11 percent year-on-year to Tk119 crore in fiscal 2015-16 — its third year of demutualization.

As its net income declined, the earnings-per share also slid to Tk0.66 last fiscal year from Tk0.75 a year ago, according to DSE statistics. The bourse will place the financial statement at its annual general meeting on March 23. A DSE official said one of the main reasons for the fall in net income was the declining interest rate on deposits in the money market.

Most of the bourse’s income is generated from interest on fixed deposits, but the average deposit rate declined to 5.54 percent at the end of June last year, from 6.8 percent a year ago.

taiwanese woman arrested for drug smuggling

Jordan, Japan sign $4.5m grant agreement AMMON

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TAIPEI

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41-year-old woman was arrested at Taiwan Taoyuan International Airport on Saturday as she was attempting to travel to Seoul with more than 2 kilograms of amphetamine, aviation police said.

The woman, who was booked on a China Airlines Zlight to Seoul, was dressed in bulky clothing and was found to be acting strangely during the security checks at Terminal 1, the police said. A search revealed that she was carrying three packets strapped to her abdomen and legs, the police said.

She later told police that she had been promised NT$250,000 (US$8,075) by a friend to take 2.2 kg of amphetamine to Seoul.

The woman, identiZied only by the surname Hsieh, has been turned

euro drops on french election uncertainty he single currency dropped as uncertainty over the French Presidential election increased after former Prime Minister Alain Juppe ruled himself out of the elections. Earlier in the day, although euro remained under pressure in Asia and weakened to 1.0592 ahead of European open, price rose to session high at 1.0640 in early European morning on cross-buying vs sterling.

However, price pared its gains after news of Juppe and dropped to an intra-day low at 1.0577 ahead of New York open before staging a recovery, price later weakened to session lows of 1.0575. Versus the Japanese yen, the greenback met renewed selling at 114.14 in Australia and dropped to an intra-day low at 113.56 in European morning on broad-based buying of yen. –CB Report

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over to the Taoyuan District Prosecutors OfZice on charges of drug smuggling in violation of the Narcotics Hazard Prevention Act, the police said. They said that since the Taoyuan airport opened in 1979, it was the Zirst case of attempted drug smuggling to South Korea.

Meanwhile, Auto parts supplier Tsang Yow Industrial Co yesterday

said it plans to invest about NT$200 million (US$6.53 million) on capacity expansion in China this year in a bid to increase its presence in the nation’s automatic transmission market. The company, which makes automotive powertrain components for global brands, is to add several laser-welding production lines at its subsidiary in Wuxi, China.

Kuwait’s crude oil exports china above 250,000 bpd level

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uwait’s crude oil exports to China in January edged down 1.8 percent from a year earlier to 1.07 million tons, equivalent to around 253,000 barrels per day (bpd), government data showed on Monday. Kuwaiti shipments of crude oil to China exceeded 250,000 bpd level for the third consecutive month, according to the General Administration of Customs. China’s overall imports of crude oil in January jumped 27.5 percent year-on-

year to 8.05 million bpd. Saudi Arabia returned to the nation’s top supplier in the reporting month, with its shipments growing 18.8 percent on the year to 1.19 million bpd, followed by Angola with 1.17 million bpd, up 63.4 percent. Russia became third, with imports from the country surging 36.5 percent to 1.09 million bpd. Oman ranked fourth and Iraq Zifth, respectively. China drastically increased the quota for non-State crude imports in 2016. –CB Report

ordan and Japan on Wednesday, signed a $4.5 million grant agreement under which Japan will provide advanced security equipment to Zive border posts in the Kingdom. The agreement was signed by Minister of Planning and International Cooperation Imad Fakhoury and the Japanese Ambassador to Jordan Shuichi Sakurai. In a press statement following the signing ceremony, Fakhoury highlighted the importance of these equipment in providing security protection to the Kingdom’s borders, noting that the aid comes to enable the Kingdom to address the increasing challenges resulting from the current political situation in the region.

The grant he added, comes within the Royal visit to Tokyo in

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Qatar to introduce gcc sin tax atar is planning to introduce a sin tax on luxury items and products that are “harmful to human health and the environment,” in line with the uniZied agreement among Gulf Cooperation Council (GCC) member states.

The country’s cabinet has newly approved draft legislation on the tax prepared by the ministry of Zinance, Qatar’s state-run news agency, QNA, said. The tax’s scope and rates is the same for all GCC states – Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.

At a meeting on June 16, 2016, the GCC ministers of Zinance ap-

opec exports indicate non-compliance

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KUWAIT CITY

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as no one really done a “getting riggy with it” pun yet? OK then, here it goes. We’ve made it to Friday, which means we get a couple of data points to hold our attention at the tail-end of the trading week. First we get the Baker Hughes

report, which will once again likely be getting riggy with it (ta-dah!), as prices in Zifty-dollardom continue to incentivize drilling activity. After that we get CFTC data, which will likely show an ongoing overcrowded tilt towards the bulls. But for now, hark, here are Zive things to consider in oil markets today: The more we look at OPEC loadings, the more that Jack Nicholson

November 2016 during which Japan offered A $8.8 million grant to Jordan. The minister voiced Jordan’s thanks and appreciation of the continued support provided by Japan to the Kingdom, as well as Japan’s understanding of the economic and social challenges facing Jordan.

“Jordan attaches great importance to its relations with Japan, and seeks to develop these relations in the political, social and economic fields,” he added.

The Japanese ambassador praised efforts exerted by the Kingdom to host refugees as well as His Majesty King Abdullah’s role to bring about peace and prosperity in the region. He also highlighted the strong ties between the two countries as well as Japan’s keenness to continue its support to Jordan.

Meanwhile, The Japanese government has decided to extend an aid package of $29 million to help Jordan cope with the Syrian refugee burden.

movies come to mind. After we mused that last month’s loadings were “As Good As It Gets,” our focus this month has switched to “Something’s Gotta Give,” given the current status of net long Zinancial positioning (at a record), US oil inventories (at a record) and Singapore’s Zloating storage in recent weeks (at a record).

As for OPEC loadings, it invokes “The Departed,” as that best describes

proved a common framework for the development of national regimes for customs duties and value-added tax.

The agreement paved the way for the introduction of harmonized excise duties from January 1, 2017, which have now been delayed, and a pan-GCC value-added tax (VAT) framework from January 1, 2018.

According to QNA, the draft law includes provisions concerning the tax’s operative date; the taxable base; assessment, including rules on when a taxable event occurs; registration; reporting and record-keeping requirements; tax suspension rules; and penalties. –CB Report

both vessels and OPEC’s discipline.

As our ClipperData illustrate below, total OPEC export loadings so far this month are now higher than October’s reference level, after being 1 million barrels per day below it last month. Granted, some of this rebound can be attributed to rising exports from exempted cartel members (think: Libya, Nigeria), but this doesn’t fully explain the rebound.

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AdePlast expects 40% hike of exports in 2017 BUDAPEST: AdePlast’s exports went up by 36 percent to EUR 4 million in 2016 and the constructions materials maker plans to grow its sales further on the European market this year. „We have thought for a while to enter the Ukrainian market, but the politics evolution from there still makes us reluctant. However we are constantly prospecting the market. We are attentive to all that happens in the European space plus UK and due to the current strategy we expect an increase of 40 percent in exports in 2017. If we take into account only the Bulgarian market, we see a huge potential.

Afghan held for smuggling 114 kgs corals at IgI airport n Afghan national has been arrested for allegedly trying to smuggle in 114 kgs of corals at the Indira Gandhi International Airport (IGIA) here. The accused was intercepted by customs officials after his arrival from Kabul on Monday. “On personal and baggage search, organ pipe coral species weighing 114 kgs were recovered from the passenger,” a press release issued today by the customs department said. Corals are prohibited goods as per the Wildlife (Protection) Act, 1972 and under CITES Convention on International Trade in Endangered Species of Wild Fauna and Flora. Hence, its possession and trading is prohibited. Corals are used for medicinal purposes and for making gems and jewellery ‘moonga’ or coral stone, a senior customs official said.

The accused, who hails from Afghanistan, has been arrested and the corals have been seized, the release said. Last year too, the customs officials had seized 80 kgs corals. –CB Report

World Customs

8 employees of Biman found involved in smuggling of gold

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moL net income reaches Huf 43.5b in Q4 ungarian oil and gas company MOL booked net income of HUF 43.5 billion in the fourth quarter, improving over a HUF 435.3 bln loss in the base period, when it wrote off more than HUF 500 bln on production assets, state news agency MTI reported, quoting from an earnings report released early today. After-tax profit reached HUF 32.1 bln, well under the HUF 53.5 bln estimate by analysts polled by financial news portal portfolio.hu.

Earnings per share stood at HUF 484.

Revenue edged down 1% to HUF 990.3 bln, while costs of raw materials and consumables climbed 7% to HUF 724.7 bln. Nevertheless, total operating expenses fell 36% to HUF 932.4 bln because of the big write-off in the base period. –CB Report

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DHAKA

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etectives pressed charges against 18 people including 8 employees of Biman Bangladesh Airlines in a case Ziled over smuggling of 124 kilogram gold in 2013. Md Golam Saklain, assistant commissioner of Detective Branch of police and also Investigation ofZicer of the case, submitted the charge sheet before the Court of Metropolitan Magistrate in Dhaka.

Of the 18 accused, 13 are on bail while Zive are on the run.

The Biman employees are: Kamrul Hasan, junior security office; Abu Jafar, sweeping supervisor;

Masudur Rahman, aircraft mechanic; Anis Uddin Bhuiyan, assistant aircraft mechanic; Mojibur Rahman Mojib, aircraft mechanic; Md Shahjahan Siraj alias Babul, senior inspection officer; Saleh Ahmed, engineering officer; and Rayhan Ali. Meanwhile, Bangladesh is to ban the import of the cold-medicine component pseudoephedrine, a key ingredient in illicit methamphetamine production, anti-narcotics officials said, after purchases spiked in tandem with a boom in the illegal drug “ya ba.” The soaring popularity of ya ba, a mix of methamphetamine and caffeine usually consumed in pill form, is rattling governments across Asia, with annual sales in Bangladesh alone estimated at $3 billion. Bangladesh

consumes around 2 million ya ba pills a day, most of it made in labs in the lawless border regions of Myanmar, according to national and transnational anti-drugs officials.

The ban on pseudoephedrine imports was approved late last month and will be announced soon, according to three officials at the Department of Narcotics Control (DNC) in Dhaka. It was aimed at choking off supplies for domestic ya ba production before it becomes too established, they said.

“With this decision, no neighboring country, including Myanmar, can say that Bangladesh is a hub for producing ya ba,” said Nazrul Islam Sikder, a senior DNC official.

Pseudoephedrine is a decongestant used in popular over-thecounter cold remedies.

Saturday March 11, 2017

NeA to import 50mw additional power epal Electricity Authority (NEA) is preparing to import an additional 50MW electricity from India via recently-built Kataiya-Kushwaha cross-border transmission line.

For the purpose, the authority will soon write a letter to India’s NTPC Vidyut Vyapar Nigam (NVVN) to initiate the process of signing power purchase agreement (PPA). “We will dispatch the letter to NVVN within a couple of days,” said Prabal Adhikari, chief of NEA’s Power Trading Department. “Upon receiving the letter, NVVN will invite a team from NEA to negotiate the power trade deal.” Unlike the electricity imported via Dhalkebar-Muzaffarpur cross-border transmission line which NEA is directly buying from NVVN, the electricity coming through Kataiya-Kushwaha line will be purchased with Power Exchange Committee (PEC) of Bihar Electricity Regulatory Commission (BERC). Both these entities are run by India’s Bihar state and the cost of energy sold by these entities is higher than rate offered by NVVN. “Currently, PEC charges IRs5.62 and BERC charges IRs5.55 per unit, whereas the cost of import from Dhalkebar-Muzaffarpur cross-border transmission line stands at IRs3.60 per unit,” said Adhikari. “NVVN will decide which of the two entities will be involved in power trading with Nepal via that line.”–CB Report

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Inflation hits over 2 year high of 3.3% in february

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KUWAIT

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nZlation rose in February due to a much heavier food basket, hitting a 27-month high, according to the National Economic and Development Authority (NEDA).

Preliminary data released by NEDA on Tuesday, March 7, showed that inZlation hit 3.3% in February, up from the 2.7% seen at the start of the year. “The inZlation outlook for 2017 remains within the govern-

ment’s target of 2.0 to 4.0%. However, risks to the inZlation outlook appear to be tilted to the upside.

This could drive inZlation towards the higher end of the target,” said Socioeconomic Planning Secretary Ernesto Pernia in a statement.

NEDA attributed February’s jump mainly to faster price increases in rice, meat, Zish, and vegetables which pushed up the food subgroup inZlation to 4.3% in February from January’s 3.6%.

It also noted that the Philippines’ temporary ban on poultry imports

from South Korea, Germany, France, the Netherlands, Czech Republic, and Kuwait in response to the avian Zlu outbreak may have contributed to the limited supply and driven up prices.

The higher rice prices were due to lower rice stock inventories, which fell by 17.9% from December 2016 to January 2017, due to the contraction in palay production in the 4th quarter of 2016, Pernia added. The NEDA chief also warned that rice supply may be further strained as the National Food Authority’s memorandum allowed the entry of rice imports un-

der the minimum access volume program only from October 2016 until February 28, 2017. Meanwhile, Kuwait’s latest budget will focus capital expenditure on downstream oil and gas activities during FY 2017/18 in a bid to create jobs, offset falling crude export revenue and capitalise on rising regional demand for reZined products. The government is taking steps to expand private sector participation in economic development, including through three planned power projects and a US dollar-denominated bond issue – a Zirst for Kuwait.

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FIA arrests PSL black-ticket seller Saturday March 11, 2017

Lahore

LAHORE: A man, who was selling Pakistan Super League’s match tickets in black, was arrested in Gulberg by the Federal Investigation Agency. According to FIA Deputy Director Khwaja Hammad, accused Umer Waqas bought tickets in bulk online and then was found selling them. Four tickets of Rs500 were seized from his possession. A case was also registered against him. He was also produced before the court from where he got a bail. Meanwhile, The Federal Investigation Agency (FIA) on Saturday arrested an accused for extortion. According to FIA spokesman, Muhammad Ali of tehsil Hasilpur, district Bahawalpur, extorted Rs459,000 from Matloob Ahmad of Toba Tek Singh for employment in Malaysia.

LHc seeks explanation from fBR on registration of cases against St defaulters LAHORE

SAJID NAwAZ

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ahore High Court (LHC) sought explanation from Federal Board of Revenue (FBR) on registration of cases against the sales tax defaulters.

According to the details, Justice Shahid Jameel Khan heard the case Ziled by the Bashir and Sons Steel Mills in which the counsel of appellant Muhammad Mohayyudin Virk argued before the court that Federal Board of Revenue (FBR) has started the registration of cases against the sales tax defaulters.

In this regard the same has been registered against Bashir and Sons and under the sales tax law Federal Board of Revenue (FBR) cannot register the case against any defaulter.

four held for money extortion team of Anti-Human Trafficking Cell (AHTC) of FIA on Wednesday arrested four accused for extorting money from citizens on the pretext of sending them abroad for jobs. According to FIA spokesman, Khurram Bokhari, resident of Lahore, extorted an amount of Rs 2000,000 from a citizen for overseas employment in Canada. Muhammad Sarfraz,resident of Sheikhupura extorted Rs 260,000 for overseas employment and Dubai visa.Mirza Amjad Baig,resident of Lahore,extorted Rs 250,000 for overseas employment and Russian visa. Mohsin Latif of Lahore extorted 6000 US dollars from a citizen for UK visa and job. Further investigation was underway. Meanwhile, The FIA team has arrested a man for getting money from two persons on the pretext of sending them abroad. –CB Report

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He prayed before the court for registering sales tax fraud case by the FBR against the sales tax defaulters.

After hearing the case Lahore High Court (LHC) sought the explanation from the Federal Board of Revenue (FBR) about the laws before the court.

The court also sought the written explanation from the Federal Board of Revenue (FBR) regarding a case of Rs 40 million against Bashir and Sons steel mills on 10 March 2017. The Lahore High Court (LHC) has adjourned the hearing till 10 March.

Meanwhile, The Lahore High Court (LHC) has suspended the anti-dumping duty on imports. Justice Aisha-AMalik issued the order on the appeal of M/s Sara enterprises and 14 others. Counsel for appellant Shafqat Chohan argued before the court that the chairman and other Members of the National Tariff Commission (NTC) were appointed against the merit and on political basis.

ASo seizes millions of rupees illegal cigarettes, Vitz car LAHORE

m HAYAt

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irectorate of Customs Preventive Anti-Smuggling Organization has seized million of rupees Toyota Vitz and 51 cartons of foreign origin cigarettes, ofZicial sources told Customs Today.

The sources said that upon receipt of information the anti vehicle smuggling squad of ASO Lahore intercepted and detained a foreign origin Toyota Vitz of latest model on suspicion of being smuggled into the country after evading duties and taxes. The value of the vehicle is estimated to be about Rs1 million including duty and taxes worth Rs 6 million. The vehicle was being plyed on the city roads when it was intercepted by the customs ofZicials In another similar activity, an information was received regarding

customs I&I teams sent after accused at large in marijuana case

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ustoms Investigation and Prosecution (I&P) department constituted teams to arrest accused who is at large in smuggling case of 400grams of marijuwana, Investigation Wing ofZicial told Customs Today.

According to the sources, during investigations, it was reveled that Muhammad Khan of Lahore, Muhammad Nawaz of Saray Alamgeer Gujrat and Qamar Shahbaz of Gujranwala were also addressed on the parcels of “marijuna’ smuggling case and the I&P has constituted to arrest the accused

parties in the case. The teams have been sent to arrest the accused from their dwelling places on their address.

The accused Muhammad Asam, who is said to be the brother of one other accused, was arrested when he came to receive the parcels. Customs Preventive Lahore General Post OfZice (GPO) seized millions of rupees 400 gram very rare drug ‘Mari Jawana” from a parcel on Monday. The detected the drug from a parcel which was very tactfully raped in a parcel, which was sent from Norway. –M Hayat

movement of a huge quantity of foreign origin smuggled cigarettes upon which a special squad was formed under the supervision of Superintendent Customs ASO and a vehicle bearing registration no LEI 3781 was intercepted near Sabzazar, Lahore by the ASO ofZicials, it was reported.

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The sources said that upon examination 51 cartons (around 500,000) sticks of foreign origin cigarettes were recovered. Both the vehicle and cigarettes have been seized and further investigations in the matter is underway they added, saying that the value of the cigarettes is around Rs1 million.

customs Appellate tribunal hears 12 cases he Customs Appellate Tribunal division bench-II comprising Judicial Member Omer Arshad Hakeem and Member Technical Imran Tariq heard 12 cases and adjourned all the cases until the next hearing.

The Customs Appellate Tribunal adjourned the hearing of 12 cases, including Gogha Shahbaz versus Directorate of Intelligence and Investigation Faisalabad, Muhammad Rizwan versus Customs Multan, Azhar Hussain versus Directorate of Intelligence and Investigation Multan and Salman Butt versus Directorate of Intelligence and Investiga-

tion Lahore.

On Monday, the tribunal heard cases of Relience Weaving versus Customs Multan, Muhammad Shahban versus customs Faisalabad, Abdul Razzaq versus Directorate of Intelligence and Investigation Gujrat and Maxi Inch versus valuation Lahore.

Furthermore, the tribunal heard Raza Ali Shah versus Directorate of Intelligence and Investigation Faisalabad, Noraeen Zahoor versus customs Faisalabad, customs Lahore versus Tabish Corporation, Owais and Shoaib versus Post Clearance Audit (PCA) Lahore. –Muhammad Nawaz

pcA detects tax evasion m/s Khyber china trading co

D LAHORE

m HAYAt

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irectorate of Customs Post Clarence has summoned M/s Khyber China Trading Company in duty and tax evasion of Rs 167, 327 on the import of tarpaulin.

According to the details, PCA

Lahore observed that the import clearances data against HS Code 6306.1210 effected from various Model Customs Collectorate during the calendar years. 2012 and 2013 revealed that inadmissible concession of sales tax and value added sales tax under the SRO 1125()/2011 dated 31.12.2011, wrongfully availed on the import of tarpaulin i.e. sun shedding

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

said that the importers have short paid an amount Rs 167, 327 sales tax, additional sales tax and income tax due to wrongful, concession under the SRO I 125(D/2011 dated 31.12.2011.

The importer was asked to pay above mentioned short paid amount of duty/ taxes within 10 days of receipt of this letter positively.

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Colombo port among world’s best 25 ports WASHINGTON: Colombo port has been ranked 23rd among the world’s best 25 ports in accordance with the Alphaliner rankings in 2016, a Ports and Shipping Ministry statement said. All the ports which are c a r r y ing out co n t a i n e r operations are included in the Alphaliner rankings. In this list, Colombo port was ranked to 27th place in 2014 and to 26th place in 2015. Colombo Port operated 5.2 million containers in 2015. In 2016 it increased by 10.6 percent to 5.7 million.

“Increase in the depth of the route to access the Colombo port, enhancing the depth of the terminals, expansion of terminals, increase in the number of terminal operations have opened the gate for the world’s largest vessels to enter the Colombo port.

port of catoosa reports shipping tonnage for Jan hipping tonnage volumes were strong during the month of January 2017, with the Tulsa Port of Catoosa shipping 258,243 waterborne tons. One of the commodities routinely shipped on the waterway is liquid asphalt, shipped by Nustar Energy.

Liquid asphalt is used in road construction. Over 90% of roads in the U.S. are made of asphalt, according to the American Oil and Gas Historical Society. In 2016, Nustar Energy shipped over 31,000 barrels of asphalt through the port, by barge. But Nustar, like many of the Port of Catoosa’s shipping partners, brings more than just commodities through the Tulsa area; they also give back to the local community. Nustar Energy purposely invests in the Tulsa area giving back to local, nonprofit organizations. Nustar Energy, which has been at the Port of Catoosa since 2004, demonstrates the importance it places on being invested

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in the communities where it is located.

In fact, Nustar matches 50 percent of all donations that it’s employees make to the Tulsa Area United Way. That means that the company donated more than $15,000 last year alone.

Additionally, all Nustar employees donate time throughout the year to the Salvation Army, 4H, Special Olympics and numerous other charities. Nustar Energy, a terminal and pipeline company based in San Antonio, Texas, operates 88 terminals nationwide and miles and miles of pipeline. Nustar stores and ships all types of products from crude oil, gasoline, fertilizer and asphalt. The Port of Catoosa location receives, stores and ships liquid asphalt and Nustar works to keep as much product locally controlled and operated as possible. –CB Report

Ports & hipping

wilmington port adds another container ship service WILMINGTON

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he Port of Wilmington is adding an additional container ship service that would connect southeastern North Carolina to some of the largest ports in Europe, officials announced Thursday. The service will feature ships from Mediterranean Shipping Company and Maersk Line and should start in April. It connects with some of the busiest ports in France, Germany, England, and Belgium. “An optimized transatlantic trade network allows us to align our services with North Carolina’s business needs,” Executive Director Paul J. Cozza said in a statement. “As we continue to invest in our facilities we’ll see even more activity at our Port of Wilmington, thus furthering our economic contribution to the state.” This new service is the latest for the Port of Wilmington. Back in October, ofZicials announced a new

container service connecting the port to Asia through the Panama Canal. “This service opens up capacity for supplementary imports and exports from markets in Northern Europe,” said Greg Fennell, chief commercial ofZicer.

“To have the top two container carriers in the world come together and provide service options for us on the transatlantic and transpaciZic

side is pretty special.” The added container service comes on the heels of a multi-million dollar expansion at the Port of Wilmington to help accommodate larger container ships. The port ordered two new Panamax cranes, widened the port’s turning basin, made various berth improvements, and expanded the container yard. The improvements totaled about $120 million.

Saturday March 11, 2017

uruguay ports post contrasting figures n 2016, port traffic in Uruguay varied considerably between ports and commodities. Container traffic at Montevideo over the first 11 months showed 8% growth, reaching 810,000 teu. Transhipment container traffic rose 31% following the lifting of the ban on handling Argentinean boxes. In the same period, general cargo at the port rose 3% to more than 10m tonnes and dry bulk grew by 8%. At Nueva Palmira, traffic was down 12%, with throughput amounting to 6.92m tonnes for the first 11 months. Fray Bentos reported a 4% increase of 2m tonnes, while Paysandú was down 16%, as sugar and barley imports fell. Separately, the National Ports Authority (ANP) is working on a countrywide port development plan with Spain’s Valenciaport Foundation.

The plan is backed by the Latin American Development Bank. “The idea of the plan is to use it as a guide for action, and as a means of determining which direction to go in,” said ANP president Alberto Díaz. Areas being looked at include dry bulk, containers, cruise and fishing. –CB Report

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Spanish port strike to go ahead S

WASHINGTON

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panish port workers say they will go ahead with planned strike action over government plans to reform the country’s port system. The International Workers’ Federation has announced that a walkout will take place on alternate days for a three-week period from 6 March if the Council of Ministers approves the Stevedores Port Law Reform this Friday as expected. An earlier strike on the 20, 22 and 24 February was suspended at the end of last week to enable further negotiations between the unions and employers on the implementation of the new law. The dispute is already disrupting operations at a number of ports, affecting trafZic in and out of Spain. Stowage association SagebSevasa said as many as 12 ships had been forced to change their naviga-

tion plans to avoid stopping at the port of Valencia, where workers are staging a “go-slow” that has reportedly led to a 30 per cent drop in productivity since last week.

Begoña Jimenez of exporter federation Fepex said if the strike goes ahead it will have little impact on the sector as 95 per cent of Spanish fruits and vegetables are sent via trucks. However, Spanish companies have been making steady inroads into non-EU markets in recent years, many of which are reached by sea.

With an already complicated citrus campaign in full swing, there are fears that prolonged action could affect shipments bound for emerging markets such as China, the Middle East and South America.

Stonefruit producers, meanwhile, are warning that unless the situation is resolved, it could affect the new season when it gets underway in June. Miguel Ángel Gómez of Ex-

tremadura grower association Afruex told EFE that exporters rely heavily on ports such as Algeciras to ship produce to countries like Canada, South Africa and the UAE. Around 70,000 tonnes of fruit from Extremadura was shipped to foreign markets through the region’s ports last year. According to Fepex, around 600,000 tonnes of fruits, vegetables and Zlowers were sent to third countries in 2016, accounting for 6 per cent of Spain’s export total. The strike could also disrupt imports of pineapples, bananas and counterseasonal products such as melons.

Spanish imports of fresh fruits and vegetables have been rising steadily since the start of the decade. According to Zigures released by Fepex on Wednesday, imports increased by 17 per cent in value and 12 per cent in volume in 2016 to €2.313bn and 2.9m tonnes respectively. he leadership of the Assocaition

of Nigeria Licensed Customs Agents (ANLCA) has urged the Federal Government and ports terminal operators to ensure that state of infrastructure at the nation’s ports is improved for effective service delivery. A statement in Port Harcourt last Friday, issued by the ANLCA National President, Shamuseedeen Shittu, said that the state of roads within the ports at Lagos, Warri and Port Harcourt is deplorable, especially requiring government and ports terminal operators’ urgent attention. Shittu said that clearing and forwarding agents are not Zinding it difZicult to move their goods and services from the ports, stressing demurrage is accumulated at the expenses of the Association’s members. He said that the association would soon meet stakeholders in the nation’s maritime sector to fashion a way of improved service delivery at the nation’s ports.

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Mianwali ASO seizes black peppers valued Rs1.9m FAISALABAD: The Anti-Smuggling Organization (ASO) Mianwali has confiscated foreign origin (F/O) black peppers worth Rs1.9million involving duty and taxes of Rs674188 during an action. Deputy Collector Muhammad Rizwan received a tip-off that smuggled items were being smuggled into the country without payment of duty and taxes on which he formed a team. The ASO team intercepted a Mazda truck with Registration No: Z-7127 which was coming from Peshawar to Sara-e-Muhajir near Dagil, district Bhakkar, and recovered (80-bags) of foreign origin (F/O) black peppers.

Saturday, March 11, 2017

CUSTOMS BULLETIN

Dg Valuation issues revision of branded battery operated tooth brushes KARACHI wAQAR AHmeD ANSARI www.customsbulletin.com

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he Directorate General of Customs Valuation revised the customs value of branded tooth brushes and battery operated tooth brushes through Valuation Ruling No 1067/2017 under Section 25A of the Customs Act, 1969.

According to details, the Directorate General earlier circulated reference customs values of branded tooth brushes and battery operated tooth brushes, respectively, Vide Valuation Data Base Letter No.32/2016 and 33/2016, dated 19-08-2016.

However, some importers approached the Directorate General and requested to revise the values notiZied in the VDBs and issue valuation Ruling for uniform applicability. Therefore, the Directorate General initiated an exercise for determination of customs values for the subject goods.

Sources said that a meeting with stakeholders was held on 28-022017. The stakeholders were requested to furnish invoices of imports during last three months showing factual value, websites,

names and 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 and copies of sales tax invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the beneZit of dif-

ference in price is passed on to the local buyers.

Sources said that some stakeholders submitted a few documents, including invoices, which have been considered for determination of

Customs values. Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs values of Tooth Brushes of different known ands and of battery operated tooth brushes.

m/s Quality Steel Re-Rolling mill approaches SHc challenging St KARACHI

m B RANA

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/s Quality Steel ReRolling Mill has approached the Sindh High Court (SHC) challenging 17 % sales tax along with 5% extra tax imposed by M/s Sui Southern Gas Company for gas consumption.

During the hearing counsel for the petitioner sated in its constitutional petition that it is paying

sales tax at the rate of Rs9/per unit of electricity consumption along with monthly electricity charges as per the bill issued by Lasbella Industrial Estates Department Authority. Counsel said that petitioner’s grievances that thought payment of sales tax at the rate of Rs9/per unit with electricity bill is a Zinal discharge of sales tax liability yet the petitioner is being made to pay sales tax at the rate of 17% along with extra tax at the rate of 5% with monthly gas bill issued by M/S Sui Southern Gas Company for gas consumption. Petitioner is this way is paying sales

tax at the rate of 22% along with gas bill which sales tax actually is not legally. Citing Secretary Ministry Finance, chairman Federal Board of Revenue (FBR), the chief commissioner Inland Revenue Large Taxpayers Unit-II, the Commissioner Zone-II, Large Taxpayers Unit-II, M/s Sui Southern Gas Company as respondents, petitioner pleaded the court to declare that the petitioner is not liable to pay sales tax the addition to sales tax paid as a Zinal tax liability at the rate of Rs.9 per unit.

Meanwhile, The Sindh High Court (SHC) has adjourned the

hearing of a constitutional petition Ziled by M/s Continental Sweets, Bakers, Nimco against seizing of its documents and equipment by the ofZicials of the commissioner Inland Revenue, Zone-III. A two-member bench, comprising Justice Aqeel Ahmed Abbasi and Justice Muhammad Arshad Khan, was hearing the petition.

During the hearing, at joint request of learned counsels of the two parties, the court adjourned the hearing for third week of March.

Earlier, counsel for the petitioner argued that ofZicials of the commissioner Inland Revenue, Zone-III

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

raided premises of the petitioner at Gulistan-e-Johar, Karachi, on December 22, 2016 and forcibly taken away documents Ziles, computers, electronic weighting scales without any explanation. Citing Chairman Federal Board of Revenue, Chief Collector Inland Revenue, Regional Tax OfZice-III, the commissioner Inland Revenue, Zone-III and deputy commissioner Inland Revenue-III and others as respondents, the petitioner pleaded the court to declare the act of the respondents as illegal, mala Zide and arbitrary and restrain them from taking any coercive action against the petitioner.