AGL 38.18 Decreased By ▼ -0.22 (-0.57%)
AIRLINK 142.98 Increased By ▲ 7.98 (5.91%)
BOP 5.07 Decreased By ▼ -0.02 (-0.39%)
CNERGY 3.77 Decreased By ▼ -0.02 (-0.53%)
DCL 7.56 Decreased By ▼ -0.03 (-0.4%)
DFML 44.48 Increased By ▲ 0.03 (0.07%)
DGKC 76.25 Decreased By ▼ -1.15 (-1.49%)
FCCL 26.95 Increased By ▲ 0.07 (0.26%)
FFBL 52.00 Decreased By ▼ -0.97 (-1.83%)
FFL 8.52 Decreased By ▼ -0.02 (-0.23%)
HUBC 125.51 Increased By ▲ 1.71 (1.38%)
HUMNL 9.99 Increased By ▲ 0.05 (0.5%)
KEL 3.74 Increased By ▲ 0.01 (0.27%)
KOSM 8.15 Increased By ▲ 0.07 (0.87%)
MLCF 34.75 Increased By ▲ 1.05 (3.12%)
NBP 58.71 Increased By ▲ 0.22 (0.38%)
OGDC 154.50 Increased By ▲ 4.55 (3.03%)
PAEL 25.15 Increased By ▲ 0.45 (1.82%)
PIBTL 5.93 Increased By ▲ 0.08 (1.37%)
PPL 118.31 Increased By ▲ 6.66 (5.97%)
PRL 24.38 Increased By ▲ 0.48 (2.01%)
PTC 12.00 Decreased By ▼ -0.10 (-0.83%)
SEARL 56.00 Decreased By ▼ -0.89 (-1.56%)
TELE 7.05 Increased By ▲ 0.05 (0.71%)
TOMCL 34.99 Decreased By ▼ -0.16 (-0.46%)
TPLP 6.98 Decreased By ▼ -0.07 (-0.99%)
TREET 13.98 Decreased By ▼ -0.18 (-1.27%)
TRG 46.10 Decreased By ▼ -0.13 (-0.28%)
UNITY 26.00 Decreased By ▼ -0.08 (-0.31%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 8,822 Increased By 86.7 (0.99%)
BR30 26,723 Increased By 466.7 (1.78%)
KSE100 83,532 Increased By 810.2 (0.98%)
KSE30 26,710 Increased By 328 (1.24%)

The Central Board of Revenue (CBR) has decided to shift 50 percent of total imports on Automated Customs Procedure (ACP), which is presently around 8 percent of total imports, and a notification in this regard is likely to be issued in a day or two. This was disclosed by Azhar Majeed Khalid, Collector Appraisement and Project Director Care, while addressing a seminar on Care (Customs Administrative Reforms) jointly organised by Karachi International Container Terminal and Pakistan Customs here on Tuesday.
Punjab Minister for Excise and Taxation, Dr Muhammad Shafiq Chaudhry was chief guest on the occasion. Azhar Majeed maintained that automated customs clearance system, which is an initiative of the CBR, is all set to be functional on March 23. 'Letters would be written to those importers, who are importing goods worth Rs 50 million annually, to bring them under the ACP in first phase, while import limit in this regard would be reduced to Rs 30 million in second phase', he added.
He said that the importers are reluctant to avail ACP facility and so far only 200 importers have been registered. This system is being introduced to provide level playing field to all importers irrespective of their import volume. The system is also aimed at changing approach in customs clearance so as to make it pro-active also for refunds' claims, he maintained. He further said this system would not effect government's revenue unless the government changes tariff structure.
He further said that customs' documents are cleared in four hours in UK, five minutes in Canada and just 15 seconds in Singapore, while in Pakistan it takes over 15 days.
Under the ACP, the documents would be cleared within four hours, apart from ensuring transparency and eradicating corruption, he maintained.
Khurram Abbas Chief Executive Officer, Karachi International Container Terminal (KICT) briefed the participants about background and salient features of the KICT.
He further said that Care has been designed to provide maximum facilities to trade and transform the logistics supply chain into an efficient system.
The minister, Dr Shafiq Chaudhry stressed the need for self-assessment and self-accountability in every segment of life. He said that the system itself is not bad but it depends upon those who are behind the function. He appreciated the efforts of Care project team and its vision and dedication towards the project.
Captain S. Rashid Jamil (Retd), Terminal Manager also spoke on the occasion.

Copyright Business Recorder, 2005

Comments

Comments are closed.