Govt urged to take action against

facilitators of smugglers

LAHORE (INP): Pakistan FMCG Importers Association has urged the government and the Federal Board of Revenue (FBR) to take action against the facilitators of smugglers who are not only hurting legal importers, local industry but also depriving the national exchequer from duties and taxes. In a statement issued here Tuesday, Pakistan FMCG Importers Association’s chairman and former Karachi Chamber president Anjum Nisar and Secretary General Ali Mattoo claimed that if the government really intends to curb smuggling, then it should tighten the noose around their facilitators. These facilitators are selling these illegally imported goods to consumers in the markets denying them their rights to access of quality and duty paid goods. Pakistan is losing billions of rupees worth of revenue a year, due to smuggling. The revenue lost in the form of duties and taxes on smuggled goods could be far higher if some proper study is carried out.

Anjum Nisar and Ali Mattoo urged the government to check the facilitators working in big cities of the country such as Lahore, Islamabad, Rawalpindi, Multan, Faisalabad, Hyderabad and Peshawar. They suggested that the government should enact a stringent law against such people and reserve exemplary punishment for them.

Authorised dealers to affect remittances

on behalf of Umrah organisers

KARACHI (Staff Reporter): In order to facilitate the Umrah organisers to meet the Umrah related expenses on account of Pakistani pilgrims in Saudi Arabia, State Bank of Pakistan (SBP) has allowed authorised dealers to affect remittances on behalf of Umrah organisers directly to vendors/services providers in Saudi Arabia through banking channel. Further, authorized dealers have also been allowed to affect advance remittances on behalf of Umrah organisers for making prior arrangements regarding the above mentioned services in Saudi Arabia. The SBP expects that while the above remittance mechanism would enable Umrah organisers to conduct their operations smoothly, it would also help in minimising the possibility of funds transfer through informal channels from Pakistan. It may be recalled that earlier the SBP had allowed authorised dealers to affect Hajj related remittances on behalf of Hajj group organizers to Saudi Arabia through interbank market.

17 non-performing E&P licences

revoked; 12 more notices issued: Official

ISLAMABAD (APP): Drive of Ministry of Petroleum and Natural Resources against non-performing oil and gas exploration companies is continuing as it issued notices to 12 more inactive licence-holders for their failure to start exploration work as per agreement. "We have revoked 17 such licences so far and permits of all oil and gas companies failing to start exploration activities as per their obligation will be cancelled," a senior official in the ministry told APP Tuesday. Keeping in view the prevailing energy situation, he said the government had tightened the noose around non-performing Exploration and Production (E&P) companies, which obtained licences and were reluctant to initiate exploration work. The official informed that the action was being taken against the inactive E&P companies holding licences for last several years without any ground work. "More inactive licences will be revoked shortly after completing all formalities," he added.

He said licences were not cancelled instantly, rather such companies were given notices and provided an opportunity to present their cases, adding that all the process was completed in a transparent manner before revoking licences.

Answering a question, the official said, the ministry had signed 70 Supplemental Agreements for conversion to Petroleum Concessions Agreements aimed at expediting oil and gas exploration activities in potential areas of the country.

TDAP focusing on non-traditional markets to enhance Pak exports

FAISALABAD (APP): Secretary Trade Development Authority of Pakistan Inam Ullah Khan has said that non-traditional markets are being focused to enhance Pakistani exports. Addressing members of Pakistan Textile Exporters Association (PTEA) here on Tuesday, he said that efforts are under way to create strong linkages between businessmen of Pakistan and their counterparts in other countries. Terming GSP Plus status a turning point, he said that the authority was making serious efforts to give a quantum jump to Pak exports by focusing particularly on non-traditional markets. Earlier, PTEA Chairman Ajmal Farooq highlighted major irritants in exports growth and said that textile exporters have traditionally been concentrating on European and American markets and had built good reputation in home textiles and made-ups, especially in bed-linen. Declaring B2B interaction key tool in trade promotion, he suggested frequent exchanges of trade delegations with the trading partner countries to explore the potential of trade.

Pakistani economy is based on cotton and textile exports are the main source of generating foreign exchange for the country.