PAAPAM chairman commends EDB

LAHORE: The newly-elected chairman of the Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM), Iftikhar Ahmad, has commended the Engineering Development Board (EDB) for uploading input output ratios certificates (IORCs) on WEBOC, despite destruction of all records, a statement said on Tuesday.

EDB’s entire offices, furniture, computer systems, files and records were totally destroyed in a fire that burned down the entire Awami Markaz Building in Islamabad last month. EDB’s vital functions include updating of input output ratios certificates (IORCs) of the auto industry on FBR’s WEBOC systems in the Customs department, so that import quotas of this sector are controlled and clearances of import consignments are allowed accordingly, it added.

Without the issue of IORCs, the clearances of auto and auto parts industries’ import consignments would have been brought to a complete halt, Ahmad said.