May 13 layout 1

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Vol 1 Issue No. 340

Karachi, Fri May 13, 2016

KARACHI

S R KHAN

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he Federal Board of Revenue (FBR) has started comprehensive investigations of tax details against the persons highlighted by the Panama Papers, it is learnt here. Sources informed Customs Today that FBR Chairman Nisar Muhammad Khan through a letter has directed the ofRicials of Inland Revenue Services (IRS), Pakistan Customs Services (PCS) and other relevant de-

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partments to start working on the details revealed by the Panama Papers. They informed this scribe that the FBR in Rirst phase would collect all relevant information of the off-shore companies established by the alleged persons, adding that “the FBR will have to collect the income tax and withholding tax details of off-shore companies for last five years.” The sources further revealed that the FBR could collect the tax details from the year 2010 to onwards, as the law did not permit the board to ask for the tax details more than five years.

Faisalabad ASO confiscates contraband goods worth Rs 20.9m in April

Customs impounds 18 vehicles worth Rs 10m in April

Exports to India will be increased to $1b within a year: Dastagir

M/s Bin Qasim Packages clears shortpaid taxes in response to PCA audit

Mini Pakistan to be established at Quaid’s mausoleum: Irfan Siddiqui

The Customs ASO seized smuggled goods worth Rs 20.92m during April | See pAge 02 |

Under the supervision of Collector Arslan , the MCC impounded 18 vehicles | See pAge 03 |

Dastagir has said that the exports from Pakistan to India will be increased to $1b | See pAge 04 |

In response to the audit observation served by the PCA, Karachi | See pAge 12 |

Advisor to PM Irfan Siddiqui has informed that the govt has decided to establish | See pAge 09 |

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Vehicle buyers to get licence plates at sale points from July 2016 Friday, May 13, 2016

National

LAHORE: The Punjab government has decided to register vehicles on the premises of the vehicles’ showrooms whereas the licence plates would be issued to purchaser at the sale points from July 1, 2016.

However, the documents of vehicles will be sent to the Motor Registration Branch of the Excise and Taxation Department for issuance of registration book.

It is learnt that the government is demolishing registration book and making a plan to issue smart card instead of registration book. The staff of the Motor Registration Branch will stay in showrooms and will issue number plates to purchasers.

faisalabad ASo confiscates contraband goods worth Rs 20.9m in April

m/s Agp deposits Rs 219,448 evaded taxes after pcA audit observation KARACHI

AftAB cHANNA

FAISALABAD

NAeem SHeiKH

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he Customs Anti-Smuggling Organisation (ASO) seized smuggled goods worth Rs 20.92 million during April of current Riscal year 2015-16.

According to monthly seizure report, the main seizure items include vehicles, cloth, Indian tea, tyres and tubes, auto parts, cigarettes, gutka, miscellaneous items and tempered vehicles. The Faisalabad ASO registered more than 21 seizure cases of anti-smuggling during April.

ASO Additional Collector Muhammad Saeed Asad said that the numbers of cases were declining due to strict monitoring and timely actions by the ofRicials. As per details, the ASO impounded nine non-duty paid vehicles worth Rs 9.966 million and three vehicles, which were being used for transportation of smuggled items, worth Rs 3.15 million during the said period. Furthermore, the ASO conRiscated 4870 kilogram of cloth Worth Rs 2.945 million, 4080kg Indian tea worth Rs 924,800, tyres and tubes worth Rs 416,566, auto parts worth Rs 257,450, 299 carton of cigarettes worth Rs 298,252, gutka worth Rs 219,675 and others miscellaneous goods worth Rs 2.655 million during the said period. Meanwhile, The Customs Anti-Smuggling Organisation

n response to the audit observation served by the Customs Post Clearance Audit, Karachi Directorate, M/s AGP (Private) Limited has deposited Rs 219,448 shortpaid/evaded taxes in the national kitty. According to sources, during audit of the imports of “Sorbitol 70% Solution”, it has been observed that M/s. AGP (Private) Limited imported the same from India under PCT heading 3824.6000 cleared through MCC Appraisement (East), Custom House, Karachi, without payment of anti-dumping duty at the rate of 16.97% levied w.e.f.

25.08.2015 vide National Tariff Commission’s letter No. A.D.C 32/2015/NTC/SB/770 dated 24.08.2015, An audit observation was accordingly issued to the importer for payment of short paid / evaded amount of Rs. 208,007/- on account of anti-dumping duty and Rs 11,441/- in consequent income tax, totaling Rs 219,448/-. The importer, in response to the audit observation, has deposited the amount of duty/taxes mentioned therein.

The PCA directorate has informed the Customs Collectorate Appraisement East for further action.

(ASO) has conRiscated foreign origin tyres and tubes worth Rs 800,000 involving duty/taxes amounting to Rs 155,184 from Faisalabad Railways Cargo Shed. Deputy Collector Rizwan Khan following information formed a team to conduct a raid. The team raided Railway Cargo Shed and

found tyres and tubes. The ASO team asked the owner and his accomplices identiRied as Muhammad Faisal, Muhammad Faiz Ahmad and Riaz ahmad Shezad to produce documents regarding the legal possession of the items, but they failed to provide any relevant documents.

The ASO team consisting of Superintendent Saeed Akhtar Joyia, Inspector Masood Saeed Chohan, Khalid Ashraf Noor, Safdar Ali, Sepoys Muhammad Khalid, Muhammad Ashraf, Liaqat Ali and Muhammad Naeem conRiscated the items under the customs laws.

customs to auction items, vehicles on may 16-17 in Kohat T

ISLAMABAD

tARiQ DeRYA

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he Model Customs Collectorate, Peshawar, has approved the dates for auction of conRiscated items and vehicles in Kohat division.

The auction cell of Kohat is holding a public auction of vehicles and goods on May 16-17, 2016 at Salt House, Kohat. It is hoped that the Pakistan Customs will gather mil-

lions of rupees as revenue through this auction, ofRicials said.

They further said that eligible bidders were encouraged to participate in the event and familarise themselves with the Auction Rules, Chapter V of the Customs Rules, 2001. The approval of auction was good news for speedy disposal of conRiscated goods and to ensure early collection of state revenues.

Meanwhile, In order to generate more revenue, the Model Customs Collectorte has decided to hold a

big auction of conRiscated goods on May 18, 2016. It was second auction in a same month in which more than Rifty non-duty paid vehicles, heavy bikes, cosmetics, imported cloth, electronics, and others items will be auctioned. Islamabad Customs Collector Dr Arslan Subuctageen has directed the team of auction cell, comprising Assistant Collector Tahir Iqbal Khattak and Superintendent Zargam Dirl to ensure the participation of maximum bidders in the auction so a compet-

itive environment could be developed. He also directed them to conduct the auction in a transparent way. Following directions of the collector, the auction team has decided to make advertising in the markets to attract people.

Meanwhile, Two division benches of Islamabad High Court (IHC) will hear two tax references, challenging decisions of the Appellate Tribunal Inland Revenue (ATIR)on Thursday. A division bench of the IHC comprising Justice

Noor-Ul-Haq N. Qureshi and Justice Athar Minallah will take up the hearing of a sales tax matter Riled against the ATIR by an FBR ofRicer.

This reference is Riled by commissioner Inland Revenue. Another bench of the IHC comprising Justice Shaukat Aziz Siddiqui, and Justice Mohsin Akhtar Kayani will hear an income tax matter.

This case was Riled by M/s Pakistan Oil Field Limited and the appellant had challenged the decision of ATIR through the petition.

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Customs earns Rs 2.2m through auction ISLAMABAD: The Model Customs Collectorate generated Rs 2.2 million through auction of confiscated goods. The customs presented different items, including LCD TVs, artificial jewelry, gents shirts, used laptops, projectors, energy saver bulbs, tablets and other items for auction, while some laptops and tablets were not auctioned due to low bidding. The process of auction was held under the supervision of Investigation and Prosecution Assistant Collector Tahir Iqbal Khattak and Superintendent Zargam Dil. Meanwhile, Islamabad Customs Collector Dr Arslan Subuctageen appreciated the collection of revenue through auction.

Friday May 13, 2016

National

customs court seeks challan in Bopp film smuggling case

customs impounds 18 vehicles worth Rs 10 million in April

LAHORE

m imRAN meHAR

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he Special Court of Customs Taxation and Anti-Smuggling has asked the Faisalabad Customs Investigation and Prosecution team to present the investigation challan against Mubarak Sheikh, allegedly involved in BOPP film smuggling, in next hearing. Earlier, the Customs Court approved the post-arrest bail plea of suspect of smuggling items from Afghanistan to Faisalabad. The suspect was arrested by the Faisalabad Customs for his alleged involvement in smuggling of BOPP film. The customs officials raided his warehouse and recovered two trucks loaded with smuggled items worth Rs 4.5 million.

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ApcA condemns arrest of multan excise employees MULTAN

imRAN ALi

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he All Pakistan Clerks Association (APCA) on Wednesday held a protest march from MDA Chowk to Multan Press Club Nawan Shehar to press their demands. The All Pakistan Clerks Association (APCA ) condemned the actions of secretary Excise and Taxation Punjab by forming false cases against the staff of Multan Excise and Taxation. The cases were formed without any evidence and that’s why department is still carrying out investigations. The Anti-Corruption Establishment has not found anything anomaly and they made four arrests in hurry to harass the other staff members of the Excise and Taxation Multan. They demanded from Punjab government and higher authorities that they should withdraw all formed cases against employees of Multan Excise.

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ISLAMABAD

tARiQ DeRYA

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nder the supervision of Collector Arslan Subuctageen, the Model Customs Collecotarate impounded 18 vehicles worth Rs 10.8 million during April, 2016.

Colector Arslan told Customs Today that anti-smuggling drive was in full swing, adding that the Islamabad Customs squad under the supervision of Assistant Collector Tahir Iqbal Khattak conducted various raids against the non-duty paid vehicles.

The ofRicials impounded different vehicles, including Mazda Trucks, passenger buses, Toyota Hiace and other vehicles worth Rs 10.8 million.The collector added that noose has been tightened around the smugglers by establishing check posts at roads mostly used by the smugglers for non-duty paid vehicles.

Meanwhile, The Customs collectorate will hold the auction of seized items and vehicles on April 12. The vehicles which are already parked at the dry port will be offered for auction. Sources informed Customs Today that collector Arslan Subuctageen has directed Assistant Colector Tahir Iqbal Khattak to Rinalize all arrangements for auction. He further directed to use all resources to make this auction transparent. Vehicles which will be available during auction includes Mercedes Benz model 1985, Yamaya heavy bikes, Toyota double cabin, Toyota Camry,

Mitsubishi Sports car model 2000, Toyota sports car, Mera, Nissan double cabin, Mitsubishi Gallant, Nissan Safro, Nissan Petrol, Mercedes Ambulance. While electronics, and cosmetics items will also be offered during auction. Sources said that all those people will be allowed to participate in auction who will hold the no objection certiRicate (NOC) issued by federal ministry of interior. Meanwhile, The Model Customs Collectorate has foiled a huge smuggling

islamabad customs squad under the supervision of Assistant collector tahir iqbal Khattak conducted various raids against the non-duty paid vehicles. the officials impounded different vehicles, including mazda trucks, passenger buses, toyota Hiace and other vehicles worth Rs 10.8 million

customs seizes goods worth Rs 6.5m SIALKOT

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SALeem AwAN SHeiKHu www.customsbulletin.com

he Customs Intelligence and Investigation, Gujranwala impounded a truck laden with various smuggled items worth Rs 3.5 million and also impounded non-duty paid two vehicles worth Rs 3 million.

Customs Intelligence Deputy Director Zainab Mehmood deployed Senior Intelligence OfRicer Muhammad

Anwar and his team on Grand Trunk Road to check vehicles in order to curb smuggling. The team intercepted a truck which was coming from Peshawar and going to Lahore.

The ofRicials checked truck and recovered various items, including pad locks, spare parts, sprays, etc. In another action, the ofRicials impounded two vehicles, Toyota Matrix bearing Registration No BCT- 480 and Toyota Hilux Surf bearing Registration No FSA-3590 worth Rs 3 million. These vehicles were playing on road with-

out payment of customs duty. The team shifted the truck with loaded items and vehicles to Customs House, while drivers have been released after initial interrogation. Meanwhile, The Federal Board of Revenue (FBR) has decided to extend exemption on IT software and its related services from export tax for further Rive years.

According to sources, the FBR is also reviewing to increase two percent withholding tax on the salaries of those government employees who are not Riling their tax returns.

attempt and seized smuggled items worth Rs 80 million from local market. The Islamabad Customs conRiscated 4,850 smuggled mobile phones, 15,750 cartons of imported cigarettes, 240 kilogram of Indian gutka, 2,467kg aluminum printing sheets and 1,342Kg Bopp Rilms during the action. A team of Islamabad Customs, following directions of Collector Arslan Subuctageen, intercepted a truck bearing Registration No NH-3195 near Tarnol interchange.

customs court hears 17 cases on wednesday he Special Court of Customs Taxation and Anti-Smuggling heard 17 important cases and issued necessary orders and directions in a number of cases. On Wednesday, 17 cases of different types were scheduled for hearing, including 2 pre-arrest bail pleas of accused persons namely Shakeel Sayed and Fazal Badshah.

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$19 billion trade deficit recorded during July-April Friday, May 13, 2016

Business

ISLAMABAD: The country’s trade deficit stood at $19 billion during the first 10 months of the current fiscal year (2015-16) as exports remained $17.3 billion, while the imports were recorded at $36.3 billion. According to the Pakistan Bureau of Statistics (PBS), the bureau reported that the exports dropped by 13 percent while imports declined by 3.7 percent. In the corresponding period last year, Pakistan’s exports stood at $19.9 billion and imports at $37.7 billion with a deficit of $17.82 billion. Compared to same period last year, Pakistan’s export-import gap increased by 6.68 percent.

pSX drops 217pts over profit-taking ISLAMABAD

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he Pakistan Stock Exchange Thursday witnessed bearish note all the day over proRittaking as benchmark 100-index dropped 217.47 points to reach 36048.76 points level at closing.

The stocks recorded the highest trading level of 36450.85points and lowest level of 36011.96 points, with the volume of 304 million shares, having about Rs 10.37 billion value. As many as 360 companies were active; of which 180 advanced, 158 declined and 22 remained unchanged.

Chemical was the top traded sec-

Auto sales up by 26% in 10 months KARACHI

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uto sales in the country has witnessed 26 per cent surged in the first ten months of fiscal year 2016 against FY15, According to the Pakistan Automotive Manufacturers Association’s (PAMA) monthly data report, a total of 152,229 cars were sold during the first ten months of FY16, up by 26 percent against 120,942 units sold in the corresponding period of FY15. Car sales would have further increased if there had been control over import of used vehicles.

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tor with 46,514,420 volume, while miscellaneous remained second with 39,219,200 volume.

The three top traded companies were Pace (Pak) Ltd with a volume of 36,890,000 and price per share of 7 (0.69), TRG Pak Ltd with a volume 21,155,000 of price per share of 37.59 (0.58), Lotte Chemical with a volume 15,222,500 of price per share of 6.28 (0.26).

The top three gainers were Wyeth Pak Ltd with price per share 2040 (90), SanoRi-AventisXD with price per share of 579.90 (27.56) and Pak.Int.ContXD price per share of 334 (12.46). The top three losers were Nestle Pak XD with price per share of 7000 (-159), Pak TobaccoXD with price per share of 1181.70 (-62.19) and Siemens Pak per share of 1010 (-24.49).

Earlier, the Pakistan Stock Exchange opened negative with 21.94 points loss as benchmark 100-index dropped to 36244.29 points level in

early trading. The bearish note continued till midday as benchmark 100-inded dropped 119.86 points to reach 36146.37 points level.

ISLAMABAD

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ISLAMABAD

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he World Bank has asked Pakistan to speed up reform of the energy sector and bring more women into the labour force if it wants to quicken economic growth that lags far behind regional peers.

The World Bank expects Pakistan’s economy to expand by 4.5 percent in 2016, missing the government’s 5.5 percent target and trailing behind other South Asian nations where growth is expected to average about 7 percent this year. The bank sees 2017 growth edging up to 4.8 percent in Pakistan, a nation of 190 million people. Experts say the economy needs to expand by at least 6 percent a year to absorb new entrants to the work force. Illango Patchamuthu, the World Bank country director, said Pakistan had benefited from a collapse in global oil prices and tough fiscal measures by the government over the past few years to stabilise the economy. But he urged faster reform in the energy sector, which has suffered decades of under-investment. Businesses say frequent power outages hurt growth and investment. “To me, the whole story around power reforms is still only half done,” Patchamuthu told Reuters in an interview.

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exports to india will be increased to $1b within a year: Dastagir cuStomS BuLLetiN RepoRt www.customsbulletin.com

ederal Commerce Minister Khurram Dastagir Khan has said that the exports from Pakistan to India will be increased to $1 billion within a year, as made-up textiles products and readymade garments have great potential to make their way to Indian markets. The minister said this while chairing a meeting with Pakistani counterparts of Pak India Business Council here on Tues-

wB asks pakistan to speed up reforms to quicken economic growth

day. The delegation was headed by Yawar Ali Shah who briefed the minister on their recent visit to India and outcome of the meetings held with Indian business and trade stakeholders. The minister was of the view that due to land route, Pakistan was the

most favourite and cost-effective market for India in terms of importing raw material for their agriculture and textile products, a statement issued by the Ministry of Commerce here said. He was of the view that trade concessions to India could not be offered unilaterally. India also needs to extend access to Pakistani products with preferential duty regime, the minister added. The minister also informed the delegation that the ministry has restructured National Tariff Commission (NTC) in line with the legal framework guided by the Supreme Court of Pakistan.

Khattak calls for attracting investors to set up industries in Kp PESHAWAR

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hief Minister Pervez Khattak, presiding over the first meeting of Khyber Pakhtunkhwa Board of Investment and Trade, has called for coordinated efforts to attract investors to set up industries in the province.

The chief minister said that the provincial government had an-

nounced attractive investment incentives to promote industrial sector in the province.

Special Assistant to Chief Minister for Industries Abdul Karim Khan, Senator Mohsin Aziz, Additional Chief Secretary Muhammad Azam Khan, Secretary Industries Dr Aftab Akbar Durrani, representatives of various departments and members of the boards attended the meeting.

Board of Investment & Trade

Chief Executive Nazir Awan briefed the meeting about the performance of the board and proposed projects on the occasion. The participants discussed the ways and means for creation of investment opportunities in the province. A number of decisions were taken for expediting industrialization.

The board approved constitution of a number of committees including Human Resource Development Committee, Audit Committee,

Finance Committee and Investment Committee on the occasion.

The board while discussing proposed mechanism and criteria for execution of projects decided a timeline of 120 days for evaluation and approval of investment projects. The board also approved readvertisement of various proposed investment projects.

The chief minister while responding to the demand of Board of Investment and Trade assured

allocation of Rs100 million grant for the KP Board of Investment and Trade in the next budget. He went on to say that a part from five percent concession on markup and one window operation facility were being provided to the investors in the province.He went on to say that a part from five percent concession on markup and one window operation facility were being provided to the investors in the province.

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ISLAMABAD

m fAiZAN

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he Directorate of Customs Intelligence and Investigation conducting various operations against illegal trade and smuggling in all over the country conRiscated contraband items worth Rs 382.5 million during April 2016. The Customs Intelligence seized items, including foreign origin cloth, vehicles, tea, diesel, motor oil, cigarettes, electronics, auto parts, gutka, carpets and miscellaneous items during the said period.

The ofRicials impounded 67 non-duty paid vehicles worth Rs 145.7 million, besides impounding 33 offender vehicles worth Rs 57.7 million under Section 157 (K) of the Customs Act, 1969.

Other items, including 240,304 meter of cloth worth Rs 27 million, 310,510 litre diesel worth Rs 19.2 million, auto parts worth Rs 31.4 million, food grains worth Rs 3.6 million, tea worth Rs 2.7 million, electronics worth Rs 18.8 million and 10,745 cartons of cigarettes worth Rs 3.57 million were conRiscated during th said period.

Meanwhile, The Directorate General Customs Intelligence and Investigations has proposed the government to declare smuggling as part of the National Action Plan (NAP). Sources told Customs Today that Di-

Friday, May 13, 2016

rector General Customs Intelligence Imtiaz Ahmad Khan forwarded this proposal after examining an investigation report, in which it was revealed that most of smuggling attempts are being made through border areas of Khyber Pukhtoonkhawa (KPK) and Balochsitan. According to this report, some organized groups are operating their network through these areas. Report says that most of Afghan refugees, who are living in Pakistan, obtained forged Pakistani CNICs and they are involved in most of smuggling attempts with the help of local police.

Sources said that report says that some smugglers are residing in Afghanistan so Pakistani authorities are unable to approach them. An open example of this came during recent past when a smuggler Rahim Gul who belong to KPK successfully managed to Rled away with smuggled truck during the presence of customs and police staff.

A recent incident which took place in Lahore in which smugglers successfully kidnap the customs inspector who were performing his duty to check non-duty paid vehicles. So after examining all the revealations it was decided that it is not possible to control smuggling without the help of a r m y , rangers,

and FC. Now FBR forwarded a proposal to government to declare smuggling as part of National Action Plan, after which 80 percent smuggling will be controlled.

Meanwhile, ISLAMABAD: The Directorate of Customs Intelligence and Investigation has proposed an amendment in the Customs Act, 1969 in order to more stricken the punishments of crimes committed in guise of transit trade.

The Federal Board of Revenue (FBR) has been recommended to amend the Clause 64 of Section 156 (I) of the Customs Act, 1969 in next budget 2016-17 and Rinance bill in wake of international roads transports. The amendment states that if any person violates the Section 128, 129 in any way or mis-declares the transit goods or removes illegally, a Rine two times greater than the value of recovered items will be imposed on the accused.

It further state that if any person is proven guilty in the Special Court of Customs Taxation and Anti-Smuggling, an imprisonment of up to Rive years will be sentenced.

OfRicials said that this amendment was being introducing to eliminate the smuggling, especially in guise of Afghan Transit Trade, adding that the amendment will prove milestone in future when international roads transports will increase in wake of China Pakistan Economic Corridor (CPEC).

d 67 ounde p m i s h Rs ďŹƒcial s wort e l c the o i h id ve ides uty pa n, bes non-d o i l l i icles m er veh 145.7 d n e  33 o der nding ion un l l i m impou 7 stoms Rs 57. he cu t worth f o ) (K n 157 Sectio 969 Act, 1

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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

economy in regional context

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articipating in a panel discussion between Asia and Europe, Finance Minister Ishaq Dar has pointed out the inherent resilience of the Pakistani economy which it has demonstrated on various occasions in the past and has successfully coped with security challenges, terrorism and natural calamities. According to him, Pakistan is trying to enhance regional cooperation and the TurkmenistanAfghanistan-Pakistan-India gas pipeline project is the best example of regional connectivity which is off the ground with the assistance of the Asian Development Bank. The project is likely to complete in five years and Mr Dar is happy that Pakistan is receiving an average of $1.2 billion annually. Regardless to his appreciation for receiving the fund, Mr Dar should also understand that the country is on the verge of a breaking point where a huge amount of the national wealth will be spent on debt servicing. But he is right to the extent that the modern economy requires linkage between countries from regional to global level and no country can afford a solo flight.During the discussion, the Asian Development Bank chief raised a few basic points for the promotion of trade and investment in the region and explained that political stability and peace are the foremost requirements to deepen reforms and enhance connectivity and linkages within the countries in Asia and the world beyond. As a matter of fact, European Union is the best example of closer economic cooperation within the states of different cultures and ethnicities.

The Asian countries should develop closer cooperation with European Union to learn the experience in the implementation of regulatory laws and harmonization of a mechanism to promote trade and investment within the countries in the region. There is political stability and peace in Europe, but Asian region is marred by political differences, border disputes, economic disparities and terrorism. Another nemesis haunting the nations in Asia is corruption which is neutralizing the gains and benefits of economic reforms and financial stability.With regard to Pakistan, the time has come when the countries within the region should shun their petty differences and work closely with each other for the economic uplift of their peoples. Pakistan needs to be proactive to revive various forums to enhance cooperation in the fields of trade and investment within the likeminded countries.

Refusing to reform agriculture economy P

LAHORE

DR AftAB AfZAL

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akistan is agrarian economy by default and major sources of gross domestic product in the country. The exports of value added goods such as textile, leather and sports goods are also have agricultural background, but this vital sector needs structural reforms, modern infrastructure and technological assistance. A vast area of the country still remains untapped and the potentials of fertile land has also not been fully utilized for the last 70 years. Indian Punjab, which is one third of Pakistani Punjab fulRills the food requirement of almost the

entire population of over 1,200 million. Unfortunately, this side of Punjab has failed to fulRill the needs of the province alone and also depends on the agriculture yields from the East Punjab. Despite being in the list of top 10 countries in the production of pulse, rice, cotton, sugar-cane, citrus fruit and milk, various world food and agricultural organizations fear that Pakistan could face food scarcity in coming years.

Meanwhile, Finance Minister Ishaq Dar has directed the Pakistan Bureau of Statistics to initiate a survey of the rural areas as part of documentation of the economy. After the development of computer technology, every big and small country is racing against time to computerize its

economy, but despite the best available brains in Pakistan and software experts, the country is lagging behind various emerging economies. In the modern world, ready data is the basic requirement for devising the economic policies but Pakistan could not even computerize its land record.

Now Mr Dar has entrusted the job of the survey of the rural economy on the bureau of statistics.

According to a PBS ofRicial,most of the work on digital mapping of the urban areas in the countryis near its Rinal stage under a speciRic project and it will take only two more months to complete the rest of the work. According to him, four surveys related to various sectors have been completed while anotherstudy is underway

to ensure building of infrastructure for transportation of goods through land route as well asagriculture, industrial, wholesale and retail sectors.

It is imperative to introduce structural reforms in agriculture sector and invite the corporate sector to participate in the development process of the rural economy. Leaving this vital sector undocumented and disorganized is a big hurdle in the way of development. Any new policy for the agriculture sector must protect the small land owners but those who own millions of acres land unutilized must be cut to their sizes. The agriculture sector is the backbone of the national economy and the country cannot afford to ignore it anymore.

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Nunavut unemployment jumps to 15.4% in April WASHINGTON: Efforts by the Government of Nunavut and Inuit organizations to curb the territory’s high unemployment rates, which are higher than anywhere else in Canada, appear to have had little effect in the past five years. And unemployment rates among Inuit, mostly unchanged over those five years, continue to be significantly higher than among non-Inuit. That’s according to new data released by Statistics Canada May 6 in an update to their annual Labour Force Survey.

Total unemployment in Nunavut for the months of February to April hovered around 15.4 per cent, according to StatsCan, and around 20.1 per cent for Inuit. That means the total unemployment rate is up 2.5 per cent from the same time period in 2015, and up 3.3 per cent for Inuit from a year ago, according to StatsCan figures.

icci shows concerns over rising inflation as it will impede economic growth he Islamabad Chamber of Commerce (ICCI) and Industry has shown concerns over the rising inflation in the country as the headline inflation has risen to 4.17 percent in April 2016 compared to 3.9 percent in the preceding month and called upon the government to take urgent measures to arrest this phenomenon as the rising inflation would hurt the investment activities and impede economic growth of the country. Acting President Sheikh Pervez Ahmed, said that sudden rise in the prices of pulses and gas tariff has triggered a new wave of inflation in the economy as the price of pulse gram has increased by over 59

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percent in April 2016 as compared to preceding year, mash’s over 56 percent, basen’s over 51 percent, gram whole’s over 31 percent and masoor’s over 8 percent. He said the prices of many other items including clothes, footwear, housing, water, electricity, fuel, health, transport and furnishing equipment have also gone up, which should be a cause of concerns for the policymakers. He said rising inflation would hurt trade and industry as it will reduce the purchasing power of the common man and will lead to cut in purchasing and slowdown in business activities. He stressed that government should look into the factors that were giving rise to inflation and take urgent remedial measures to keep the inflation within the tolerable level to save the consumers and business activities from further problems.—CB Report

Friday May 13, 2016

Chambers

mini pakistan to be established at Quaid’s mausoleum: irfan Siddiqui A

KARACHI

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dvisor to Prime Minister for National History and Literary Heritage, Irfan Siddiqui has informed that the government has decided to establish a ‘Mini Pakistan’ miniature park at the mausoleum of Quaid-e-Azam Muhammad Ali Jinnah at an estimated cost of Rs 1.5 billion which will display replicas of famous sites, rivers, mountains, lakes, and dams across Pakistan.

Talking to KCCI OfRice Bearers and Managing Committee members during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the Advisor added that the idea of setting up Mini Pakistan has been adopted keeping in view the miniature park titled ‘Mini Europe’ in Belgium, which displays replicas of the best monuments and sites of Europe. KCCI President Younus Muhammad Bashir, Vice President Muhammad Naeem Sharif, former president AQ Khalil and KCCI Managing Committee members were also present at the meeting.

Irfan Siddiqui said that numerous beautiRication projects of

Quaid’s mausoleum have already been approved by the Prime Minister and work of these projects will start soon whereas some projects were pending due to lack of resources. Seeking contribution from the business community, he urged that the business community of Karachi to come forward and contribute for this cause. “It is very important for all of us to remember

the sacriRices made by our ancestors and we must preserve what we have for our future generations. We must keep it in mind that Quaid Azam Muhammad Ali Jinnah not only changed the history but also the geography of this region”, he added. Referring to wide criticism and arguments in the media, he said that besides criticism and arguments, the media must also focus

uAe, South Africa keen to expand trade ABU DUBAI

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he collaboration between South Africa and the UAE in trade and investment is the cornerstone of the bilateral relationship, says Mpetjane Lekgoro, Ambassador of South Africa to the UAE, in an interview with Khaleej Times. Since the dawn of democracy in South Africa in 1994, the two countries have maintained a strong political and economic relationship and over time, the UAE has become South Africa’s biggest export partner in the Middle East and the sixth largest supplier of oil to South Africa. “There has been a sharp increase in total trade between South Africa and the UAE from Dh3 billion in 2011 to more than double that amount – Dh7 billion in 2015,” Lekgoro informs.

Major South African exports to the UAE include base metals and allied products, foodstuff such as fruit and vegetables, steel for construction and general engineering, machinery, electronics, minerals, defence equipment, chemicals and plastic goods, while 70 per cent of South Africa’s imports from the UAE consist of crude oil.

Other exports to South Africa include machinery, transportation equipment, consumer electronics, home appliances, computer accessories and textiles. “I believe that our growing trade relationship can be further expanded to other sectors. The excellent air links between our two countries position us to further enhance trade especially in fresh produce, including fresh Rlowers,” notes the ambassador.

The cross investment culture between South Africa and the UAE is gaining momentum and must be en-

couraged. He says: “At present, 17 FDI projects were recorded as investments into South Africa from the UAE, representing a total capital investment of Dh600 million. South Africa is also a signiRicant investor in the UAE. Between January 2003 and June 2015, 27 FDI projects from South Africa to the UAE were recorded, representing a total capital investment of Dh1 billion. I truly believe that more can still be done.”

A recent signiRicant development was the takeover of the Al Noor Hospital Group by Mediclinic of South Africa on February 15, 2016.

Through this merger, the enlarged Mediclinic International became the largest private healthcare company in the UAE (providing about 55 per cent of total private health care) and the eighth largest in the world.

Mediclinic now operates Rive hospitals and 38 clinics with more than 600 inpatient beds in the UAE.

on promoting the positive aspects of Pakistan as negativity all the time triggers anxiety, uncertainty and hopelessness amongst the masses, particularly amongst our youth which should not be happening. Irfan Siddiqui further said, “Karachi is the face of Pakistan which is not just known for its revenue contribution of 60 to 70 percent but this city is our identity, pride and honor.”

Nobilis increases revenue by 35% in Q1 obilis Health Corp. today announced its financial results for the first quarter ended March 31, 2016.

All dollar amounts are in United States currency unless otherwise stated; percentage calculations are based on the numbers in the financial statements and may not correspond to rounded figures presented in this release. See the final page of this release for a reconciliation of all GAAP and non-GAAP financial results.

“In the first quarter of 2016, we increased revenue by $13.4 million, or 35%, to a record $51.3 million, driven by increased case flow and a higher average revenue per case. Similar to the first quarter of 2015, we recorded a negative bottom line, specifically a net loss of $5.0 million as compared to $4.5 million.—CB Report

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Doha Bank to raise $5b through CDs and CPs Friday May 13, 2016

World

DOHA: Doha Bank yesterday got shareholders approval to raise up to $5bn through Certificate of Deposits (CDs) and Commercial Papers (CPs). The Ordinary General Assembly, held at its headquarters, agreed for the Bank to issue CDs worth $3bn and CPs worth $2bn. “There is no doubt that the substantial decline in oil prices has adversely affected all economic sectors including the banking sector and market liquidity.

Therefore, many banks resorted to issuing debt bonds and instruments to overcome this problem. In this context the bank is planning to issue CDs within a program of up to $3bn and CPs within another program of up to $2bn as per the salient features specified under each programme,” said Sheikh Fahad bin Mohammad bin Jabor Al Thani, Chairman, Doha Bank.

HK customs seizes malaysia’s border agency foils plan suspected illicit cigarettes to smuggle thai energy drinks HONG KONG

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ong Kong Customs yesterday conducted an anti-illicit cigarette operation in Sham Shui Po and Tsing Yi. In the operation, Customs smashed a suspected illicit cigarette storehouse and detained a cross-boundary private car suspected to be used in smuggling illicit cigarettes. A total of about 270 000 sticks of suspected illicit cigarettes were seized.

Customs ofRicers suspected a residential premises to be an illicit cigarette storehouse in Sham Shui Po and took enforcement action yesterday evening. About 130 000 sticks of suspected illicit cigarettes were seized and a 51-year-old man was arrested. Subsequently, Customs ofRicers intercepted a crossboundary private car suspected to be used in smuggling illicit ciga-

Bangladesh to increase tobacco taxes in next budget he state minister for finance has said that the government will increase the taxes on all tobacco products in the next budget to be announced in June. MA Mannan said this would be in line with Prime Minister Sheikh Hasina’s commitment to eradicate the use of tobacco by 2040. The PM made the promise in a recent South Asian’s Speakers’ summit in Dhaka. The state minister speaking at a roundtable on Monday in Dhaka said the finance minister had already instructed the National Board of Revenue to increase the tobacco taxes in the next budget. Study showed that the prices of tobacco products were decreasing in Bangladesh as the taxes were not levied considering the purchasing power of the people.

There are different price slabs of cigarettes. Speakers at the roundtable urged the government to lift the price slabs for simplifying the tobacco taxation.—CB Report

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rettes in Tsing Yi. About 140 000 sticks of suspected illicit cigarettes were found in the vehicle and a 31-year-old man was arrested. The private car used for conveying the suspected illicit cigarettes was also detained. The total market value of the suspected illicit cigarettes seized in the two cases was about $700,000 with a duty potential of about $500,000. Customs will continue to undertake stringent enforcement actions against illicit cigarette activities to protect government revenue. Under the Import and Export Ordinance, smuggling is a serious offence. The maximum penalty is a Rine of $2 million and imprisonment for seven years. Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty is a Rine of $1 million and imprisonment for two years. Members of the public are urged to report any suspected illicit cigarette activities by calling the Customs’ 24-hour hotline 2545 6182.

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he Kedah Malaysian Border Security Agency (AKSEM) seized RM10,000 worth of en-

Bangladesh seeks duty-free access for 56 items to Nepal

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angladesh yesterday demanded duty-free access of 56 items to Nepal to boost bilateral trade, at the third commerce-secretary level meeting that began in Dhaka yesterday.

Bangladesh has sought the benefit for the products that have export potential, said Monoj Kumar Roy, additional secretary to the commerce ministry, who was also a member of the Bangladesh delegation at the meeting. The products include fish, potato chips, wafers,

construction materials, refrigerators, lead acid battery, garments, plastic goods, cement, tobacco, tomato sauce and biscuits. Roy, speaking to The Daily Star after the meeting at the secretariat in Dhaka, also said Nepal demanded duty-free import of machineprocessed writing papers, but Bangladesh agreed to export handmade papers to Nepal. On the other hand, Bangladesh offered duty-free benefits to 108 products of Nepal, Roy said.—CB Report

ergy drinks smuggled from Thailand at Km1.3 of the North-South Expressway near here yesterday. A total 155 boxes of the drinks were found stashed inside a lorry carrying vegetables on its way to Kuala Lumpur.

Bukit Kayu Hitam AKSEM deputy commander Kamar Barin said the seizure was made at 10pm based on

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Alstom profit jumps 23% lstom SA’s full-year proRit surged after the French rail-equipment maker got a boost from an Indian order for electric locomotives that pushed its pipeline of contracts to a record. Adjusted earnings before interest and taxes increased 23 percent to 366 million euros (US$417 million) in the Riscal year through March, Alstom said yesterday in a statement.

Sales on a comparable basis climbed 7 percent to 6.88 billion euros, beating a reiterated target for annual growth of 5 percent through 2020 and analysts’ estimate of 6.71 billion euros compiled by Bloomberg. “Our Rirst priority is the implementation of our organic

fake customs official arrested at airport

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KUWAIT

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arwaniya detectives arrested a citizen involved in several swindling cases after he posed as a customs ofRicial at the airport.

A security source said the citizen was arrested after years of searching, and he was wearing a customs

uniform and had a seal although he is unemployed. The source said the suspect introduced himself to businessmen and said he could bring goods into the country such as computers, mobile phones and “may be drugs”, took the money and fled. The source said there are many cases against him, including 12 in Farwaniya only. Meanwhile, The General Customs Department

public tip-off. According to Kamar, there were no Health Ministry’s label on the cans and bottles to prove that the products have been approved by the ministry. “The lorry was driven by a 36-year-old man from Gurun and the goods were on its way to Kuala Lumpur. “The energy drinks in various brands were found hidden behind vegetable boxes and some stashed under the driver’s seat,” he said in a press conference here today. Kamar said the drinks received high demand among foreign workers from Thailand and Myanmar. Hr added that initial investigation showed that the man has no previous criminal record.

The seized drinks were handed over to the Health Ministry for further action. Meanwhile, A ruse by two Thai boats, attempting to smuggle out subsidised diesel by disguising themselves by displaying Malaysian Rlags, did not hold water. Alert Malaysian Maritime Enforcement Agency ofRicers did not fall for the trick and seized a total of RM3 million.

is still paying the salary of a Kuwaiti employee who died 90 days ago, reports Al-Rai daily quoting Falah Al-Adwani – father of the deceased.

Speaking to the daily, Al-Adwani disclosed he was surprised as his son continues to receive salary from the department although he died in February. He said this happened even if he submitted a copy of his son’s death certificate to the

strategy; our second priority is to continue to make small and medium acquisitions to accelerate this strategy,” CEO Henri Poupart-Lafarge told reporters during a conference call.

Meanwhile, Global integrated oil and gas company TOTAL S.A. TOT announced that it will acquire Saft Group following an agreement signed between the two companies. Saft Group is a leading designer and manufacturer of advanced technology batteries. The tender offer made by TOTAL will target all of Saft’s issued and outstanding shares at a price of $41.90 (€36.50) per share, valuing Saft’s equity at $1.1 billion.—CB Report

Finance Unit of the department. He explained that after discovering the payment of his son’s salary, he again submitted the death certificate to the Finance Unit and the employee who received the document assured him that the salary payment will be stopped but he was surprised when the department deposited his son’s salary for the third time.

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Egypt’s Red Sea Ports Authority reopens ports WASHINGTON: Egypt’s Red Sea Ports Authority reopened on Wednesday the Ain Sokhna Port in Suez for navigation after closing it for two days due to bad weather conditions, Ahram Arabic news website reported. According to Abdel Riham Mostafa, the official spokesperson for the authority, Ain Sokhna Port was reopened for navigation after the improvement in weather conditions. The Red Sea Ports Authority also reopened lAdabiyah Port, the Petroleum Port and Bor Tawfik Port for navigation on Tuesday after bad weather conditions subsided. The state is awarding $23.6 million to deploy 43 zero-emission trucks servicing major ports throughout the Golden State, including the Port of West Sacramento.

Yilport acquires 100% shares in port of gävle ildirim Group subsidiary Yilport Holding has acquired 100% shares of Gävle Container Terminal and Baltic Sea Gateway, claiming the rights to operate container, bulk, general cargo, rail and CFS services in Port of Gävle terminals as part of a 40year concession. Following an ambitious growth plan to be in the global top 10 port operators in the world by 2025, Yilport has been actively acquiring ports and terminals. This deal marks its second long-term concession in the Nordic region, the first being its 20-year deal for Port of Oslo. Chairman of Yilport Holding Robert Yuksel Yildirim said: “We are delighted to enter into a 40-year concession agreement with Port of Gävle. Gävle welcomed us in 2014, when we acquired 80 percent shares of Gävle Container Terminal. Today, Yilport is very happy to be awarded the remaining 20 percent shares and Baltic Sea Gateway terminal as well. “We are excited to

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bring our experience to BSG and GCT, expand further and offer end-to-end terminal services in Gävle. We welcome new terminals in our portfolio, and take another step towards our goal to be ranked among top 10 international port operators by 2025. As part of this objective we strive to enhance our global presence further.”Yilport currently operates 22 terminals across seven countries, mostly located in Europe. Meanwhile, The first six cantilever rail-mounted gantry (CRMG) cranes arrived in the River Mersey on Sunday May 1, 2016 ready for installing and commissioning at the Liverpool2 deepwater container terminal. Produced by leading Chinese manufacturer ZPMC, which also supplied the five ship-toshore cranes already on site, these six are the first of 12 required for phase one of the terminal.—CB Report

Ports & Shipping

port of Houston authority to host first gulf shipping moot

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he Port of Houston Authority has entered into a host port sponsorship agreement with the Journal of Commerce (JOC Group, Inc.), a subsidiary of IHS Maritime and Trade, for the 2016 Gulf Shipping Conference. With the Panama Canal expansion underway,

regional U.S. ports from Tampa, Fla. to Brownsville, Texas are striving to meet the growing demands and challenges of the shipping and freight business. The inaugural event will take an in-depth look at Gulf Coast containerized imports and exports, trade movements and logistics realities.

The Port of Houston Authority has been working with JOC Group’s events division to develop the annual container-centric conference to be similar to the Trans-PaciRic

Maritime conference in Long Beach, Calif. The one and a half-day seminar will be held on June 13-14, 2016, at the Houston Magnolia Hotel, and will highlight the Gulf Coast and its strategic importance to beneRicial cargo owners, shippers and carriers. Sessions will focus on opportunities, advantages and efRiciencies for moving containerized cargoes to Houston and other Gulf Coast ports. “We are excited to be a part of this upcoming trade conference with the Journal of Commerce.

The Gulf Coast is an alternate transportation gateway option for many importers and exporters connecting major markets in the U.S. with all major trade lanes,” said Ricky Kunz, chief commercial ofRicer for the Port of Houston Authority.

Meanwhile, LNG shipping company MISC is not in talks to buy TH Heavy Engineering Bhd’s Rloating production and fabrication businesses. MISC said on Wednesday it was not involved in any on-going discussions with TH Heavy to buy these businesses. It was responding to news reports that it was in talks with the oil and gas related company for a possible purchase.

Friday May 13, 2016

Apple’s ipad shipments continue to fall in 2Q16 Pad shipments fell 19% YoY in fiscal 2Q16. In fiscal 2Q16, Apple (AAPL) shipped approximately 10.3 million iPad units and generated revenue of $4.4 billion. In comparison, it shipped 12.6 million units in fiscal 2Q15 and generated revenue of $5.4 billion. Revenue and shipments fell 19% YoY (yearover-year) in fiscal 2Q16. KGI Securities expects iPad shipments to reach 40 million–42 million in 2016 According to analyst Ming-Chi Kuo of KGI Securities, Apple will ship between 40 million and 42 million iPads in 2016. This amounts to a 16% fall YoY. However, analysts expect revenue to remain strong due to a rise in the average selling price of the iPad Pro. Meanwhile, Dozens of readers accepted our invitation to name the one change that would fix the dreadful experience known as LaGuardia Airport.

Here are your top questions, along with answers from the Port Authority aviation team planning the airport’s $4 billion overhaul who met with the editorial board Tuesday.—CB Report

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faisalabad Appraisement collects Rs 678.9m T

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NAeem SHeiKH

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he Model Customs Collectorate Appraisement collected Rs 678.94 million during April, 2016 against the set target of Rs 710.57 million by achieving it up to 96 percent. The Customs Appraisement collected revenue under the heads of customs duty (CD), sales tax (ST), income tax (IT) and federal excise duty (FED) during the said period.

According to the statistics available with Customs Today, it collected Rs 23.49 million as customs duty against the target of Rs 193.76 million and achieved it by 12 percent.

The collectorate surpassed the target set for sale tax by 33 percent as it collected Rs 626.27 million against the set target of Rs 469.61 million. The Appraisement collected Rs 29.15 millions in wake of

income tax during the said period against the set target of Rs 39.60

million that has been achieved up to 76 percent. It collected 30,000 in

share of federal excise duty against the target of Rs 7.60 million.

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Multan Excise scrutinizing record of registered vehicles MULTAN: The Excise and Taxation Department has started examining the available record of the registered vehicles in order to probe fake registrations. Director Excise and Taxation Jaam Siraaj and other employees are facing corruption allegations in registration of fake vehicles by misusing their powers. The Secretary Excise has suspended Jaam Siraaj and other employees due to corruption charges and referred their cases to Anti-Corruption Establishment for the comprehensive investigation of the matter.

Friday, May 13, 2016

CUSTOMS BULLETIN

m/s Bin Qasim packages clears short-paid taxes in response to pcA audit observation KARACHI AftAB cHANNA

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n response to the audit observation served by the Post Clearance Audit (PCA), Karachi Directorate, M/s Bin Qasim Packages has deposited Rs 433,380 shortpaid taxes in the national kitty.

According to sources, during the scrutiny of import data of coated calcium carbonate (PCT heading 3824.9094 and 3824.9099), it was observed that certain grades of coated/treated calcium carbonate (in granular form consisting essentially of calcium carbonate dispersed in polyethylene plastic medium having percentage of calcium carbonate 80% and plastic medium 20%) falling under PCT heading 3824.9099 chargeable to CD @ 10 %, have been cleared by the importers by mis-declaring it under PCT heading 3824.9094 chargeable to CD @ 5% to evade duty/taxes. Accordingly, this directorate issued audit observations to 14 importers including M/s. Bin Qasim Packages (Pvt) Ltd, Karachi. The importer in response to the audit observation has deposited the amount of duty/taxes mentioned therein.

customs court rejects bail plea of cell phones’ smuggler LAHORE

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he Special Court of Customs Taxation and AntiSmuggling has rejected the bail plea of an accused who was arrested from Rahim Yar Khan Airport while making an attempt to smuggle mobile phones from Dubai to Pakistan.

Rizwan is in judicial custody of the Multan Customs Investigation

and Prosecution after expiry of his physical remand.

As per details, accused, Muhammad Rizwan was arrested from Rahim Yar Khan Airport red handed when he was making an attempt to smuggle mobile phones of assorted brands. A customs team at the airport during checking of his luggage found 130 mobile phones of Samsung, Huawei and Apple brands, besides recovering 141 mobile phones batteries. The Multan Customs registered a case against him under the Pakistan Customs Act, 1969. The Customs Court also directed the

investigation team to prepare the complete challan of the case.

Meanwhile, The Special Court of Customs Taxation and AntiSmuggling has approved a 14-day judicial remand of a suspect allegedly involved in a mega sales tax evasion. According to the details, accused Zunair Ahmad son of Zaka Waleed was arrested by the Inland Revenue (IR) Intelligence and Investigation following the charges of sales tax evasion.

Zunair owns a factory and manufactures household items. He is allegedly involved in concealing the actual sales of the factory in

order to avoid taxes. Therefore, the ofRicials arrested him and registered a case against him under Sales Tax Ordinance, 1990.

The ofRicials presented him before the Customs Court, which sent the accused on physical remand for interrogation. Accused Zunair Ahmad is a resident of Rachna block Allama Iqbal Town, Lahore.

Meanwhile, The Special Court of Customs Taxation and AntiSmuggling has sent a suspect, Muhammad Arif, on physical remand in a sales tax evasion case.

According to the details, Muhammad Arif son of Muham-

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mad Sain was arrested by the Sialkot Inland Revenue (IR) Intelligence and Investigation after Rinding a huge difference in sales of his retail business, as he declares less income in the statement submitted to the department. The ofRicials, during the investigation, found a difference of Rs 15 million.

Later, the accused was presented before the court, which approved his four-day judicial remand for interrogation.

Sources also informed that a cheque of Rs 2.2 million that he paid to the FBR also bounced by bank for lack of funds.