Author: Mrs. Anjum Shahnawaz

  • US experts train Pakistan Customs officers

    US experts train Pakistan Customs officers

    KARACHI: US law enforcement experts have trained probationary officers of Pakistan Customs on enforcement topics such as contraband smuggling, human trafficking, investigative methods, and evidence collection.

    In support of the United States’ ongoing commitment to strengthening Pakistan’s law enforcement organizations, Acting Consul General Jack Hillmeyer today joined Customs Chief Collector (Enforcement-South) Dr. Wasif Ali Memon for the closing ceremony of a U.S.-sponsored training for new probationary Customs officers.

    The two-week program brought U.S. law enforcement experts to Karachi Customs House to train on customs enforcement topics such as contraband smuggling, human trafficking, investigative methods, and evidence collection.

    Speaking to the 32 probationary officers—including 12 women officers—Acting Consul General Hillmeyer said Customs officers are “Pakistan’s front line in preventing smuggling of narcotics and other illicit goods through your land borders, airports, sea ports, and coastline…We are proud to support Customs with training and equipment to assist in your mission to enforce Pakistan’s customs laws.”

    This training was made possible through a partnership between U.S. Department of State’s Bureau of International Narcotics and Law Enforcement (INL) and the U.S. Department of Homeland Security (DHS).

    INL has provided over $1,531,000 (Rs238.83 million) in support to Pakistan Customs since 2001 through the provision of training and the donation of vehicles and other equipment to support Customs’ efforts to protect Pakistan’s borders and prevent illicit smuggling.

    The United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs works in more than 90 countries to help countries combat crime and corruption, counter drug-related offences, improve police institutions, and promote laws and court systems that are fair and accountable.

  • Rupee advances five paisas against dollar

    Rupee advances five paisas against dollar

    KARACHI: The Pak Rupee further advanced by five paisas against dollar on Friday amid calm demand from importers and corporate.

    The rupee ended Rs155.29 to the dollar from previous day’s closing of Rs155.34 in interbank foreign exchange market.

    Currency experts said that the inflows of export receipts and remittances helped the rupee to make gain.

    The foreign currency market was initiated in the range of Rs155.31 and Rs155.33. The market recorded day high of Rs155.31 and low of Rs155.29 and closed at Rs155.29.

    The exchange rate in open market witnessed slight change in rupee value. The buying and selling of dollar was recorded at Rs155.20/Rs155.50 from previous day’s closing of Rs155.20/Rs155.40 in cash ready market.

  • New policy to eliminate tariff rate gap between commercial, industrial importers

    New policy to eliminate tariff rate gap between commercial, industrial importers

    ISLAMABAD: The gap of duty and tax rates between commercial importers and industrial importers will be eliminated under newly proposed tariff policy.

    The National Tariff Policy 2019-2024 has proposed following measures for enforcement:

    (i) These policy recommendations will be implemented in a period of five years starting from the Budget 2020-21;

    (ii) The tariff slabs will be simplified based on the principle of cascading;

    (iii) The tariffs on raw materials, intermediate and capital goods will be gradually reduced;

    (iv) The additional customs duty and regulatory duties will be gradually reduced;

    (v) The difference in the rates of tariff for the commercial importers and the industrial users of raw materials, intermediate and capital goods will be eliminated to reduce misuse of such differentials and to provide access to such essential materials for SMEs.

    (vi) The nascent industry will be provided time-bound protection, which will cover the payback period of financing and investment. The protection will be phased out gradually to make the protection regime predictable and facilitate the investment decisions. Such protection levels will be provided through Investment Policy.

    (vii) In order to implement these policy recommendations, the following arrangement will be instituted:

    a. A Tariff Policy Board (TPB) chaired by the Commerce Minister/Advisor, with Minister for Industries & Production, Secretary Finance, Secretary Revenue, Chairman FBR, Secretary Commerce, Secretary Board of Investment, and Chairman NTC as its members shall be created. Secretary Commerce shall be the Member/Secretary of the Board. The TPB shall be responsible for formulation, amendment and implementation of the National Tariff Policy.

    b. A Tariff Policy Centre shall be created in the Ministry of Commerce, which will serve as the Secretariat of the TPB.

    c. All proposals for levy, amendment or removal of tariffs including regulatory duties and customs duties shall be examined at the Tariff Policy Centre and after approval of the Tariff Policy Board shall be submitted by the Commerce Division to the Cabinet or Parliament, as the case may be, for approval.

    (viii) Any policy impacting tariffs or having tariff-like impact shall be formulated through the process mentioned at (vii) above.

  • Qatar to open two more visa centers in Pakistan: envoy

    Qatar to open two more visa centers in Pakistan: envoy

    KARACHI: Consul General of Qatar Mishal Muhammad Ali Al Ansari has said his country will open two more visa centers in Pakistan for facilitating visa processing, a statement said on Friday.

    At a meeting with office bearers of Karachi Chamber of Commerce and Industry (KCCI) that, he said that two Qatari visa centers were already operational in Karachi and Islamabad while two more such centers will also be established in Peshawar and Lahore in future for processing visas of mostly the skilled and semi-skilled labors.

    “Around 150,000 Pakistanis are living in Qatar as compared to around 40,000 Pakistani expats just four years ago,” he said.

    Qatari Envoy further stated that Qatar and Pakistan have been enjoying very old and strong relations since many decades. “We have initiated visa on arrival service for all Pakistanis while Qataris were also benefiting from a similar visa on arrival facility during their visit to Pakistan. Pakistan is exporting fruits, vegetables, fishes, rice, minerals, steel and cement to Qatar and is one of the fastest growing partner of Qatar in the region.”

    He said, “We’ve opened up the country and are looking for partners from all over the world. We’ve also eased the restrictions and regulations for anyone who wants to do business in Qatar. There are numerous sectors where no local Qatari partner is required anymore while Qatari Banks are also fully assisting such foreign investors.”

    Qatari CG pointed out that 90 percent of Qatari imports from Saudi Arabia and Emirates were suspended because of the blockade imposed around two years ago subsequently, they partnered with other countries including Turkey, Iran, Pakistan and India, besides focusing on becoming self-sufficient in numerous sectors.

    “A lot of changes happened in Qatar during the last two years. We are now self-sufficient and not relying on anyone in the dairy, poultry, farming sectors. Our farms have increased production by almost a thousand percent and all the major vegetables are also being grown in Qatar now. Even our fish farms have now tripled as compared to what they were before the blockade”, he added.

    Keeping in view the recent developments, he was fairly optimistic that the blockade would ease up which would create a much better situation for Qatar. “There was an effect, which I cannot deny but now we are doing well without them and with them (Saudi Arabia & Emirates), we will do great”, he said, adding that all the projects were going on smoothly in Qatar as the new expansion of the airport has started while Qatar Airways was also doing very well since the blockade as the airline added 26 new destinations, raising the total number of destination to 160.

    Highlighting the activities underway for the FIFA 2020 World Cup and the Vision 2030, Qatari Consul General stated that preparations for the FIFA world cup were in full swing as a lot of projects are going on in Qatar, of which half of the development work on the subway system has been completed while the construction of two out of six stadiums has also been completed while work on the remaining four football stadiums will also be completed next year.

    Moreover, 80 hotels were also being constructed in Doha while some huge cruise ships will also be arriving in Qatar just for the World Cup which is likely to be attended by millions of people from all over the world. “FIFA World Cup’s spending is almost US$200 billion while under the Vision 2030, around 150 large scale projects worth billions of dollars are to be offered after FIFA world cup in 2020.”

    He further mentioned that although one or may be two projects, which are not even 10 percent of the total construction projects, suffered some delay because of the blockade but the construction industry continues to grow as many new buildings and hospitals are being constructed.

    “We are also focusing on promoting tourism, particularly the Cultural Tourism as many new museums are being established and the Museum of Islamic Art and Cultural Centers in Qatar are already open whereas the Hamad Port, which is the largest port of Gulf region, also became fully operational a year ago”, he added.

    Earlier, President KCCI Agha Shahab Ahmed Khan, while welcoming the Qatari Consul General, underscored the need to make collective efforts to enhance trade ties between Pakistan and Qatar. Both countries have been enjoying good bilateral relations particularly in the energy sector but efforts have to be made from both side to enhance trade and investment cooperation in other sectors as well.

    Referring to FIFA 2020 being organized in Qatar, he stated that this particular event has opened up a host of opportunities for the business communities of both the countries to collaborate in numerous sectors of the economy.

    He was of the opinion that Pakistan, being an agricultural economy, can offer many commodities to Qatar and there was also good potential for enhancing trade in fresh fruits, vegetables, rice, meat, livestock, gems & jewelry, Information Technology and Engineering sectors.

    “As Pakistan produces some of the finest gems & jewelry whereas Qatar has been importing these products mostly from India, therefore the Qatari business community must look into the possibility of importing good quality gems and jewelry products from Pakistan as well”, he added.

  • PIA declares Rs67.32 billion annual loss

    PIA declares Rs67.32 billion annual loss

    KARACHI: Pakistan International Airlines (PIA) – the national flag carrier – has declared after tax loss of Rs67.32 billion for the year ended December 31, 2018.

    According to financial statement of the national flag carrier shared with the Pakistan Stock Exchange (PSX) on Friday, the annual loss of the company further ballooned by 32 percent to Rs67.32 billion for the year 2018 as compared with the loss of Rs51 billion in the preceding year.

    The net revenue of the airlines increased to Rs103.49 billion for the year under review as compared with Rs90.55 billion in the preceding year, registering an increase of 14.29 percent.

    The rupee depreciation has increased the cost of services as fuel cost for the year 2018 increased to Rs43.55 billion as compared with Rs31 billion in the year 2017.

    The operation losses of the airlines increased by 31.28 percent to Rs47 billion in the year 2018 when compared with Rs35.81 billion in the preceding year.

    The board of directors of PIA approved the financial results in a meeting held on Thursday November 21, 2019.

  • IR officers empowered to sell defaulters’ properties without attachment

    IR officers empowered to sell defaulters’ properties without attachment

    KARACHI: Officers of Inland Revenue (IR) have been empowered to sell moveable or immovable properties of sales tax defaulters for recovery of arrears.

    Section 48 of Sales Tax Act, 1990, which was updated up to June 30, 2019 by the Federal Board of Revenue (FBR) explained the powers of IR officers for recovery of arrears of tax.

    Section 48: Recovery of arrears of tax

    Where any amount of tax is due from any person, the officer of Inland Revenue may:-

    (a) deduct the amount from any money owing to person from whom such amount is recoverable and which may be at the disposal or in the control of such officer or any officer of Income Tax, Customs or Central Excise Department;

    (b) require by a notice in writing any person who holds or may subsequently hold any money for or on account of the person from whom tax may be recoverable to pay to such officer the amount specified in the notice;

    (a) stop removal of any goods from the business premises of such person till such time the amount of tax is paid or recovered in full;

    (ca) require by a notice in writing any person to stop clearance of imported goods or manufactured goods or attach bank accounts;

    (b) seal the business premises till such time the amount of tax is paid or- recovered in full;

     

    (c) attach and sell or sell without attachment any movable or immovable property of the registered person from whom tax is due; and

    (f) recover such amount by attachment and sale of any moveable or- immovable property of the guarantor, person, company, bank or financial institution, where a guarantor or any other person, company, bank or financial institution fails to make payment under such guarantee, bond or instrument:

    Provided that the Commissioner Inland Revenue or any officer of Inland Revenue shall not issue notice under this section or the rules made thereunder for recovery of any tax due from a taxpayer if the said taxpayer has filed an appeal under section 45B in respect of the order under which the tax sought to be recovered has become payable and the appeal has not been decided by the Commissioner (Appeals), subject to the condition that ten per cent of the amount of tax due has been paid by the taxpayer.

    (1A) If any arrears of tax, default surcharge, penalty or any other amount which is adjudged or payable by any person and which cannot be recovered in the manner prescribed above, the Board or any officer authorized by the Board, may, write off the arrears in the manner as may be prescribed by the Board.

     

    (2) For the purpose of recovery of tax, penalty or any other demand raised under this Act, the officer of Inland Revenue shall have the same powers which under the Code of Civil Procedure 1908 (V of 1908), a Civil Court has for the purpose of recovery of an amount due under a decree.

  • Customs seizes huge quantity smuggled diesel oil in deep sea operation

    Customs seizes huge quantity smuggled diesel oil in deep sea operation

    KARACHI: Customs authorities have foiled an attempt to smuggle large quantity of Iranian diesel oil into Pakistan, officials said on Thursday.

    The officials said that Pakistan Customs Preventive Marine Section had conducted an operation against smugglers near Gwadar.

    The customs authorities intercepted two boats in deep waters for search, which resulted in discovery of 22,000 liters of Iranian diesel oil, which was meant to smuggle into Pakistan.

    The total value of diesel oil has been estimated at Rs2.1 million.

    The customs authorities seized the diesel oil as well as both the boats. The value of seized boats has been estimated at Rs30 million.

    The preventive officials said around 32.1 million worth diesel oil and boats were seized in the operation.

  • Engro Fertilizers donates crop protection product to combat locust attack

    Engro Fertilizers donates crop protection product to combat locust attack

    KARACHI: Engro Fertilizers Limited has donated 6.7 tons of crop protection product with a market value of around Rs6 million to provincial governments to combat locust attack, a statement said on Thursday.

    To combat the recent locust attack threatening the agricultural sector in Sindh and Punjab, the Government of Sindh and the Department of Plant Protection, Ministry of Food Security & Research, reached out to private sector companies to extend their support on urgent basis.

    Considering the gravity and urgency of the situation and its impact on farmer community, Engro Fertilizers Limited donated the crop protection products.

    Due to change of weather and recent spell of rains, the onslaught of desert locust swarms has hit rural and urban areas of Sindh and Punjab, damaging the agricultural produce in the region.

    Engro Fertilizers being trusted partner of farming community of Pakistan, donated 13,430 packs of LAMBDA – Cyhalothrin, which is a world class product to fight locusts.

    This is the single largest contribution by a company to counter the recent locust attack.

    “We understand that the locust attack is very alarming and a grave threat to our farmers and the food security of Pakistan.

    “Engro Fertilizers has always been at the forefront in fulfilling our commitment towards Pakistan’s agriculture development and we will continue to stand with the government.

    “We are confident that our crop protection product will support the government and farmers to effectively overcome the locust attack.” said Nadir S. Qureshi, CEO Engro Fertilizers Limited.

    With change of weather and recent spell of rains, some locust swarms have started to move towards southwest Pakistan and southeast Iran in search of warmer places.

    These swarms from the summer breeding areas along both sides of the border of Pakistan and India started moving towards spring breeding areas in Southwest Pakistan and Southeast Iran lately.

    The government is actively working towards curbing the impact on the crops and combats the locust attack.

    The responsible corporate citizens of Pakistan like Engro Fertilizers Limited are always there to support the government and farmers sector of Pakistan in testing times to alleviate their issues.

  • Electric vehicles to help in saving $2 billion oil import payment: adviser

    Electric vehicles to help in saving $2 billion oil import payment: adviser

    ISLAMABAD: The launch of electric vehicles in the country will help the country to save around $2 billion foreign exchange, which is spend on annually on oil import, Malik Amin Aslam, Prime Minister’s Adviser on Climate Change, said on Thursday.

    Besides, adopting electric vehicle, the consumers could save over 30 percent cost of vehicle maintenance, because these do not require petrol or gas, no engine oil and driving them is highly comfortable, and affordable.

    Addressing a press conference on Thursday along with private electric vehicle manufacturing stakeholders/investors, he told media that introduction of electric vehicles in Pakistan following the EV policy, which was framed after consultation with all relevant stakeholders from government and non-governmental sectors, are going to be a big change for the people to switch from fuelling at the pump to fuelling at an outlet.

    He said that electric vehicle (EV) Policy would help revolutionize overall transport sector of the country in coming years and urban outlook with introduction of better, sustainable and environmental-friendly transport facility.

    He also said that this policy, which has been approved by the Cabinet this year on November 5, would also significantly help boost pollution-free transport facilities in the country in a way that are not harmful to environment and do not emit any smoke and cause noise pollution.

    From the running costs of electric cars to being very environmental-friendly, introduction of electric vehicles in the country will help cut country’s oil import bill, yield countless benefits for both environment and the people and their overall lifestyle and the way our cities look, the adviser said.

    “Electric vehicles do not emit vehicle emissions and these are cleaner, do not cause noise pollution and eliminate your fuel costs. Besides, EVs are fun to drive and these have instant torque and offer a very smooth ride,” he explained while counting on the benefits of the electric vehicles.

    The adviser Malik Amin Aslam noted that periodic trips to the gas station to fuel up your car are considerably expensive and time consuming for the people, particularly when the ever-fluctuating price of gasoline is high.

    However, by choosing an electric vehicle, one can forget about paying for gasoline and being at the mercy of fuel prices.

    “Not only is electricity less expensive than gasoline, it also has a much more stable price point, meaning that rapid price swings are all but eliminated by going electric,” he further explained.

    Malik Amin Aslam stated that humans have historically had a very negative impact on our environment. “Carbon dioxide emissions from traditional vehicles contribute to greenhouse gases in the atmosphere and accelerate climate change and overall environmental degradation and hurt public health. Conversely, all-electric vehicles don’t produce climate change-causing carbon dioxide into the atmosphere, when any of us drives them.

    Besides, hybrid electric vehicles use their battery to greatly improve the distance you can travel with a gasoline-powered engine,” he elaborated while highlighting environmental benefits of the electric vehicles.

    Given the backdrop, switching to an electric vehicle is one way to reduce further damage to the earth, cut individual carbon and transport sector’s footprints, the prime minister’s adviser on climate change.

    He said that with implementation of electric vehicle policy of Pakistan, a new economic sector will emerge, introducing a new electric vehicle producing industrial sector and thousands new jobs.

    Talking about electric public transport system, he told media that as part of the policy goal, provincial governments are being approached to usher in launch mass transit system in urban areas, under which electric buses would be introduced to provide pollution, noise-free, comfortable and cheaper transport facilities to the masses, particularly women.

    For this, federal government would provide every possible help to the provincial governments to introduce such mass transit system, Malik Amin Aslam added.

  • Hafeez Shaikh calls for early resolution of pending issues between PTCL, Etisalat

    Hafeez Shaikh calls for early resolution of pending issues between PTCL, Etisalat

    ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue on Thursday directed early resolution of pending issues between PTCL and Etisalat.

    Dr. Abdul Hafeez Shaikh has called for an early resolution of all outstanding issues regarding the PTCL privatisation with Etisalat and asked the stakeholders to finalise proposals on the subject within the next couple of weeks.

    He made this statement while chairing an Inter-Ministerial Committee constituted by the Prime Minister to discuss and resolve the issues related to the PTCL’s Privatisation.

    Minister for Privatisation Muhammad Mian Soomro, Minister for Information Technology Khalid Maqbool Siddiqui, Secretary Finance, Secretary Privatisation, Secretary Information Technology and Telecommunication and other senior officials were also present.

    During the meeting, the adviser was given a detailed briefing on the issues concerning the transfer of properties to Etisalat and the pending payments still to be made by Etisalat.

    The adviser called for greater efforts to resolve the outstanding issues in a smooth and amicable manner and asked the government team to contact the senior management of Etisalat to listen to their viewpoint and decide the unresolved issues at the earliest as any further delay was not in the interest of both the parties.