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Business

November 14, 2017

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Businesses holding back export proceeds to face action

Businesses holding back export proceeds to face action

KARACHI: Pakistan Customs has decided to take action against exporters, who are not realising the foreign exchange earned against the declared value of consignments, resulting in lower inflows of export receipts, an official said on Monday. 

“Cases are being reported where value on Export Forms is different from the one given in the goods declaration (GDs) documents,” said Manzoor Hussain Memon, chief collector Customs (enforcement), at a meeting with Karachi Customs Agents Association (KCAA). 

“All the KCAA members are urged to thoroughly examine the cases involving such misreporting.”  Responding to the KCAA’s concerns regarding two different online procedures for clearance of Full Container Load (FCL) and Less Container Load (LCL) cargo, Memon assured them a module in the WeBOC (Web Based One Customs) was at the developmental stage. 

“The system would be launched on priority basis to ensure a uniform procedure for clearance of both type of cargoes,” the collector said. Memon also informed the customs agents there were only a few items, which attracted duty and taxes on exports. “In case of correction in GDs the exporters should verify the entries instead of proceeding to confirmation pages,” the chief collector advised the agents.

Faisal Mushtaq, the KCAA president, appreciated the prompt decisions taken by the chief collector to resolve the issues facing the exports sector, which is backbone of the economy.   “Joint meetings where all the relevant stakeholders are present can always fetch results and boosting our exports is the only solution to narrow the yawning trade deficit of the country,” Mushtaq said. 

Regarding the long outstanding demand for the allowance for dray-off containers, the collector decided the GDs, wherein system has allowed loading in Green or allowance has been granted by Customs after examination, dray-off facility will be allowed by the Customs immediately without a fresh examination.

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