FAISALABAD: The Collector Customs Faisalabad Muhammad Saeed Wattoo has said that the Export Facilitation Scheme (EFS) has been implemented with objective to improve ease of doing business and reduce liquidity problems of exporters.

He was addressing an awareness session on EFS scheme organized by the Pakistan Textile Exporters Association here on Tuesday.

The collector Customs briefed the session participants that the Federal board of Revenue (FBR) had developed various modules for smooth functioning of the EFS and for facilitating all categories of exporters including both direct and indirect exporters. He briefly enlightened the salient features and benefits of modules which focus on facilitation of exporters.

He said that the indirect exports were major component of the EFS and a mechanism for transfer of raw materials and semi-and-fully-finished goods, including local sales, has been deployed in the scheme.

He said exporters were getting all features in one scheme. He said that Faisalabad was on top priority regarding EFS scheme because the basic target in the scheme was the export sector.

The collector Customs Faisalabad said that currently there was a liquidity crisis in the country due to various reasons and Export Facilitation Scheme (EFS) was a good opportunity for the business community in these challenging times.

Addressing the session, PTEA leader Ameer Ahmad appreciated the government’s initiative of “Pakistan Single Window (PSW)” to provide single electronic platform for facilitating compliance with regulatory regime for cross border trade in Pakistan. He said that Faisalabad is an important economic and textile hub and totally export-oriented city globally known for its quality products, unique export culture and for manufacturing value-added goods. Through export, is was earning foreign exchange amounting to over US$ 4 billion per annum and strengthening the national exchequer, he added.

The Additional Collector Customs Muteen Alam, Assistant Collector Isfandaryar Ikram and large number of textile exporters were present in the session. Later, PTEA insignia was presented to the collector customs.

Copyright Business Recorder, 2023