ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday ordered an independent third-party audit of three years of records of customs bonded warehouses across the country, putting a major segment of the import system under intensified scrutiny.
The move puts a system handling 16.5 percent of the country’s total imports under a detailed review, with the prime minister also ordering physical verification of stocks held in customs bonded warehouses nationwide.
Chairing a review meeting on Federal Board of Revenue (FBR) affairs for the second consecutive day, Prime Minister Sharif directed authorities to take strict legal action against officials found involved in irregularities or illegal activities.
“There is no room for any irregularity in customs bonded warehouses,” he said, warning that violators would face strict action under the law.
The directives came during a detailed briefing on customs bonded warehouses and Inland Revenue enforcement, where officials said physical stock verification of warehouses across the country would be carried out on the prime minister’s instructions.
The government is also moving to tighten the system around the warehouses. Authorities are taking measures to strengthen licensing and security requirements, while valuation testing will be conducted and the information technology systems used by customs bonded warehouses will be reviewed, officials told the meeting.
The meeting was further informed that cargo involving petroleum products at customs warehouses is monitored through the WeBOC electronic customs system.
Officials said bonded trade accounts for 16.5 percent of the country’s total imports, highlighting the scale of the trade passing through the system now facing heightened scrutiny.
The PM reiterated that officials involved in irregularities or illegal activities must be dealt with strictly in accordance with the law.
Officials, meanwhile, told the meeting that necessary measures were being taken to eliminate irregularities in customs bonded warehouses.
The audit, stock verification and proposed tightening of licensing, security, valuation and information technology systems mark a broad review of the customs bonded warehouse regime as the government steps up scrutiny of FBR-related matters.
The prime minister has held review meetings on FBR affairs for a second consecutive day, with Tuesday’s meeting focusing on customs bonded warehouses and Inland Revenue enforcement.
The meeting was attended by Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, Petroleum Division Minister Ali Pervaiz Malik, IT Minister Shaza Fatima, Prime Minister’s Adviser Haroon Akhtar, State Bank of Pakistan (SBP) Governor Jameel Ahmad and other senior government officials.
Copyright Business Recorder, 2026
Comments