ISLAMABAD: The Federal Board of Revenue (FBR) has notified the powers and functions of the newly-created Director General, Directorate General of Customs Risk Management.

The FBR has issued a notification on Tuesday to notify functional jurisdiction of the Director General, Directorate General of Customs Risk Management, Islamabad and Director, Directorate of Customs Risk Management Karachi.

The jurisdiction of Director General, Directorate General of Customs Risk Management, Islamabad would extend to risk management of all customs clearance systems relating to imports, exports and allied functions in respect of all customs formations.

The Director General would be engaged for the planning, designing and implementing an overall risk management strategy and system and its application on clearance import and export consignments; monitoring, evaluation and upgradation of risk management strategy and system in the light of changing national and international trends.

The Director General would be engaged in the upgradation of risk management strategy and system on the basis of analysis of clearance of various sectors and commodities, pattern of adjudication Proceedings and other legal matters and outcome thereof; protection, security and maintaining confidentiality of the Risk Management System (RMS) data and records.

Director, Directorate of Customs Risk Management Karachi oversee matters related to administration, budget allocation and expenditure in the jurisdiction of the Directorate General; identify requirements and recommend internal controls for protection of revenue and facilitation of genuine trade; develop and maintain a risk register of risk profiles, risk indicators and selectivity procedures for RMS; analysis of clearances of import and export consignments assigned Green Channel by RMS.

Copyright Business Recorder, 2023