A monthly <strong>Magazine</strong> <strong>of</strong> ICCIBUSINESSMagnatetheft gangs with the cooperation <strong>of</strong> people. He stressed thatwe should work jointly to building confidence and trustbetween police and community that would greatly help inimproving law & order situation. Jamil Hashmi saidbusinessmen are playing a vital role in promoting businessand economic activities and assured that <strong>Islamabad</strong> Police &ICCI will work together to address business community'ssecurity related problems.In his welcome address, Zafar Bakhtawari, President,<strong>Islamabad</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> & <strong>Industry</strong> highlightedthe problems being faced by the businessmen. He saidabduction <strong>of</strong> businessmen for ransom, rising incidents <strong>of</strong>robberies from shops and banks, car thefts and street crimeshave created a sense <strong>of</strong> insecurity in businessmen and policeshould play more active role to make <strong>Islamabad</strong> a crime-freecity. He said police should install scanning gates at allentry/exit points to improve security situation while checkposts should also be shifted to border areas as great number<strong>of</strong> check posts within the city is create problems and causeinconvenience to people.He was <strong>of</strong> the view that improvement in law & ordersituation in the federal capital would help in improvingbusiness & industrial activities, attracting more investmentand creating more jobs. Therefore, all possible sourcesshould be utilized to make <strong>Islamabad</strong> a model city in terms<strong>of</strong> security for the rest <strong>of</strong> the country.IESCO Customer Services Centre in G-9 Markaz inauguratedRole <strong>of</strong> power distribution companies is vital for theeconomy as promotion <strong>of</strong> trade and industry depends ontheir good performance. Therefore, these companies shouldfocus on providing best services to their customers t<strong>of</strong>acilitate the growth <strong>of</strong> business activities and ease the life<strong>of</strong> common man. This was observed by Mr. ZafarBakhtawari, President, <strong>Islamabad</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> &<strong>Industry</strong> (ICCI) and Director Board <strong>of</strong> IESCO whileinaugurating a Customer Services Centre <strong>of</strong> IESCO at G-9Markaz, <strong>Islamabad</strong>.Mr. Mohsin Khalid Chairman & Mr. Tariq Sadiq DirectorIESCO Board, Malik Yousaf Awan CEO IESCO, MianAkram Farid former President ICCI, Mr. Mehmood AhmadWarraich, Senior Vice President ICCI and many otherbusinessmen were present at the occasion.Mr. Bakhtawari lauded the initiatives <strong>of</strong> IESCO forexpanding the network <strong>of</strong> its Customer Services Centers inRawalpindi/<strong>Islamabad</strong> and said it should open more suchCustomer Services Centers in other major commercial hubs<strong>of</strong> <strong>Islamabad</strong> so that its valued customers could be furtherfacilitated.He said that in 2001, Pakistan had 4,000megawatts <strong>of</strong> excess power capacity, but today the energycrisis has emerged as a big threat to the economy. He urgedupon the new government to give top most priority to thisissue in its economic agenda.He said that during election campaign, Mian Nawaz Sharifhad vowed that if voted to power, he would conduct aneconomic explosion during his new term, which was veryencouraging. However, he added that without achievingenergy security, the dream <strong>of</strong> economic explosion couldnever be materialized. Therefore, if the government wasserious in improving economy, it should work on warfooting basis to tackle the energy problem.Speaking on the occasion, Malik Yousaf Awan, ChiefExecutive Officer, <strong>Islamabad</strong> Electric Supply Company(IESCO) said that IESCO was striving hard to provide bestservices to its customers and inauguration <strong>of</strong> this CustomerServices Center was another step to this direction. He saidcustomers would get many services from IESCO CustomerServices Centers including installments <strong>of</strong> bills, issuance <strong>of</strong>duplicate bills, redressal <strong>of</strong> complaints and many more14Zafar Bakhtawari, President, <strong>Islamabad</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> & <strong>Industry</strong> presentingbouquet <strong>of</strong> flower to Malik Yousaf Awan, CEO IESCO Boardservices under one ro<strong>of</strong> and added that IESCO was the firstone to introduce modern technologies to facilitate itsvaluable customers. Malik Yousaf Awan said IESCO wasthe only power distribution company that has brought downits losses to single digit level and it would continue t<strong>of</strong>urther improve its performance. He said businessmen wereits high revenue generating customers and were playing vitalrole in improving the local economy. Therefore, IESCOwould try to come up with more innovative services t<strong>of</strong>acilitate them so that they could further expand theirbusinesses and create new jobs. He also vowed to providemaximum assistance to the masses and thanked PresidentICCI for inaugurating IESCO CS Center.Trade links <strong>of</strong> the Italian companies and exhibitionsItalian Development Committee-IDC www.idcpakistan1.orgItalian Tourism Boardwww.enit.itICE Made in Italywww.italtrade.comList <strong>of</strong> <strong>Chamber</strong>s in Italywww.tuttocamere.itConfidustria-Confederation <strong>of</strong> ItalianIndustrieswww.confindustria.itExhibitions in Italywww.aefi.itInvest in Milano-Italywww.investinmilan.comInvest in Italywww.invitalia.itSource: Embassy <strong>of</strong> Italy, <strong>Islamabad</strong>
A monthly <strong>Magazine</strong> <strong>of</strong> ICCISalient FeaturesCustoms Budgetary Measures 2013-14BUSINESSMagnateObjectives:• Relief to general public.• Encouraging growth and investment.• Reducing cost <strong>of</strong> doing business.• Improving regulation and enforcement.Relief Measures:(a) Further reduction in duty& taxeson HybridElectricVehicles (HEVs) ranging from 25% to 100%,according to their engine capacity.(b) Duty free import <strong>of</strong> “bio re-absorbable vascularscaffold” (heart stents) to decrease their cost for heartpatients.(c) Exemption <strong>of</strong> duty and sales tax on energy savingtubes presently @ 20% duty to encourage use <strong>of</strong>energyefficient electrical equipment.(d) Streamlining and deregulation <strong>of</strong> the procedure forexempt import <strong>of</strong> renewable energy resourcescompatible equipment to promote their use andincentivize investment in this field.(e) Reduction <strong>of</strong> customs duty on <strong>of</strong>fice or school suppliesfrom 25% to 20% to lower their price and reduceclassification disputes.(f) Duty & sales tax free import <strong>of</strong> solar submersiblepumps presently @ 20% duty to encourage use <strong>of</strong>energyefficient electrical equipment.(g) Reduction <strong>of</strong> duty on water treatment &purifying machinery and equipment from 20% to 15%to make them accessible to general public.(h) Streamlining the procedure for re-import <strong>of</strong> machinery& equipment sent abroad for repair etc by industrialimporters.(i) Reduction <strong>of</strong> customs duty on Medium Density Fiber(MDF) Board.(ii) Streamlining <strong>of</strong> Tariff Structure to IncentivizeGrowth and Investment:(a) Creation <strong>of</strong> separate PCT codes <strong>of</strong> newlyindigenized vehicles to Incentivize local auto industry.(b) Creation <strong>of</strong> new PCT code for classification <strong>of</strong> satellitephone and water dispenser to reduce classificationdisputes and improve import statistics.(c) Editorial corrections <strong>of</strong> description and classification inthe Tariff.(d) Regulatory control on exempt/concessionaryimport <strong>of</strong> agricultural machinery, tourism sector,packaging industry and pharmaceutical sector is beingstrengthened to ensure that the benefit is availed bybonafide importers only. Editorial changes forsimplification <strong>of</strong> concessionary SROs is also beingmade to remove duplications, spelling errors orredundant entries.Revenue Measure:Increase in duty on betel nuts from 15% to 20% and betelleaves from Rs.200/kg to Rs. 300/kg to discourage their useon account <strong>of</strong> adverse health effects.Legislative Changes:(a) Amendment in section 2 (la) <strong>of</strong> the Customs Act, 1969will provide legal cover for filing <strong>of</strong> transshipmentgoods declaration in Computerized Clearance System.(b) Introduction <strong>of</strong> new section 3DDD in theCustoms Act, 1969 to provide legal cover to theDirectorate General <strong>of</strong> Input Output Co- efficientOrganization (IOCO).(c) Amendment in section 14-A <strong>of</strong> the CustomsAct, 1969 whereby terminal operators/custodian <strong>of</strong> goodswill be bound to entertain the delay and detentioncertificates issued by customs authorities for waiver<strong>of</strong> demurrage charges. This measure will mitigatethe financial hardship faced on this count by genuineimporters.(d) Amendment in section 14-A <strong>of</strong> the Customs Act, 1969will require the custodian <strong>of</strong> goods/terminaloperator to provide adequate security and residentialaccommodation to the customs staff.(e) Sub-section (4) <strong>of</strong> section 32 empowers theappropriate <strong>of</strong>ficer to determine payable amount. Presentlythis section does not cover the liability found on account <strong>of</strong>Post Clearance Audit. Inclusion <strong>of</strong>Sub-section-3A in sub-section 4 will fulfill this legalrequirement.(f) Amendment in section 81 <strong>of</strong> the Customs Act, 1969, todelete Post Dated Cheque as an acceptable securityagainst provisional assessment.(g) Section 80-A appearing in sub-section 2 <strong>of</strong>Section 83 is being proposed to be omitted. Thereference <strong>of</strong> section 80-A under section 83 ismeaningless since section 80-A is already omitted.(h) Amendment in section 179 <strong>of</strong> the CustomsAct, 1969 will fix the adjudication powers in case<strong>of</strong> exported goods in relation to their FOB value asagainst duty and taxes in case <strong>of</strong> imported goods.(i) Amendment in section 196 will authorize Director<strong>of</strong> Customs Valuation to file appeals before the High Court insuch cases where he is aggrieved by the orders <strong>of</strong> the Tribunal.(j) Amendment in section 202 B <strong>of</strong> the Customs Act, 1969 tocorrect the nomenclature <strong>of</strong> Customs Service <strong>of</strong> Pakistan.Source: www.fbr.gov.pk15
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