ANL 35.31 Decreased By ▼ -0.69 (-1.92%)
ASC 14.75 Increased By ▲ 0.05 (0.34%)
ASL 26.00 Increased By ▲ 0.30 (1.17%)
AVN 89.10 Decreased By ▼ -0.40 (-0.45%)
BOP 7.77 Increased By ▲ 0.03 (0.39%)
BYCO 10.05 Decreased By ▼ -0.03 (-0.3%)
DGKC 122.65 Decreased By ▼ -1.15 (-0.93%)
EPCL 58.20 Increased By ▲ 0.05 (0.09%)
FCCL 23.88 Decreased By ▼ -0.17 (-0.71%)
FFBL 28.75 Decreased By ▼ -0.40 (-1.37%)
FFL 15.63 Decreased By ▼ -0.12 (-0.76%)
HASCOL 9.60 Decreased By ▼ -0.05 (-0.52%)
HUBC 79.14 Increased By ▲ 0.39 (0.5%)
HUMNL 6.41 Decreased By ▼ -0.03 (-0.47%)
JSCL 20.80 Decreased By ▼ -0.40 (-1.89%)
KAPCO 39.90 No Change ▼ 0.00 (0%)
KEL 3.78 No Change ▼ 0.00 (0%)
LOTCHEM 16.60 Decreased By ▼ -0.08 (-0.48%)
MLCF 46.00 Decreased By ▼ -0.31 (-0.67%)
PAEL 35.56 Decreased By ▼ -0.09 (-0.25%)
PIBTL 10.34 Increased By ▲ 0.12 (1.17%)
POWER 9.28 Increased By ▲ 0.09 (0.98%)
PPL 85.90 Decreased By ▼ -0.33 (-0.38%)
PRL 24.72 Decreased By ▼ -0.18 (-0.72%)
PTC 9.90 Decreased By ▼ -0.01 (-0.1%)
SILK 1.26 Increased By ▲ 0.02 (1.61%)
SNGP 41.63 Decreased By ▼ -0.37 (-0.88%)
TRG 165.10 Increased By ▲ 1.80 (1.1%)
UNITY 30.40 Increased By ▲ 0.02 (0.07%)
WTL 1.56 Increased By ▲ 0.02 (1.3%)
BR100 4,874 Increased By ▲ 12.26 (0.25%)
BR30 25,700 Increased By ▲ 11.25 (0.04%)
KSE100 45,306 Increased By ▲ 75.45 (0.17%)
KSE30 18,538 Increased By ▲ 28.18 (0.15%)

Coronavirus
VERY HIGH
Pakistan Deaths
16,094
11224hr
Pakistan Cases
750,158
497624hr
Sindh
271,524
Punjab
264,010
Balochistan
20,760
Islamabad
68,906
KPK
104,480

ISLAMABAD: The Federal Board of Revenue (FBR) has directed all port authorities or terminal operators to provide suitable facilities and arrangements for Authorized Economic Operator (AEO) certificate holders to give maximum benefits to them.

The FBR has proposed amendments to the Customs Rules, 2001, through a notification, issued here on Saturday.

Under the benefits to be provided to the AEO certificate holders, all port authorities or terminal operators shall provide, in accordance with applicable law, such suitable facilities and arrangements for the AEO certificate holders as directed by the Regulatory Collector.

The FBR has also expanded the scope of eligibility to apply for AEO certificate.

Now the category of manufacturers has also been included in the list, who can avail the benefits of the AEO certificate holders.

Eligibility to apply for AEO certificate now included any entity involved in the international supply chain that undertakes Customs related activity in Pakistan can apply for AEO status.

Such entity may include manufacturers, importers, exporters, customs house clearing agents, brokers, shipping lines, carriers, consolidators, intermediaries, ports operators, airports operators, airlines, custodians or terminal operators, stevedores, integrated operators, warehouses, authorised couriers, ground handling agents, freight forwarders and logistics service providers.

Previously, the eligibility to apply for the AEO certificate included exporters, importers, logistic providers such as carriers, airlines, freight forwarders, etc, custodians or terminal operators, Customs House Agents and Warehouse Owners, port operators, authorised couriers, stevedores etc.

In case of importers and exporters, at the time of filing of AEO application, annual turnover of the business must be 2.5 million US$ or above, while applying for gold or platinum status.

Under the Authorized Economic Operator Rules, importers and exporters can be placed in gold, platinum and silver categories from the FBR to enjoy 24/7 clearances at all customs clearance stations and avail benefits of priority placement/frontline treatment for speedy clearance of imports and exports consignments, trade facilitation and timely payment of refunds/duty drawback to the holders of such certificates.

Authorised Economic Operator certificates included gold, platinum and silver certificates.

The FBR will issue gold and platinum certificates to importers or exporters and silver certificates may be granted to categories of economic operators other than importers and exporters, including logistics providers, custodians or terminal and off-dock terminal operators, customs agents and warehouse operators.

The validity of AEO certificate shall be two years for gold, three years for platinum and silver.

The authorised economic operator or AEO means a certified entity, which fulfills the security criteria and other laid down obligations, and derives benefits as prescribed under these rules and may include manufacturers, importers, exporters, custom house agents, brokers, shipping lines, carriers, consolidators, intermediaries, ports operators, airports operators, terminal operators, integrated operators, warehouses, distributors, freight forwarders, and logistic service providers.

Copyright Business Recorder, 2021