ISLAMABAD: The Collectorate of Customs (Exports), Port Muhammad Bin Qasim, Karachi, has disbursed Rs 12.65 billion claims of exporters during the FY 2020-21. The Collectorate has also liquidated all admissible old claims of duty drawback, pending with the years’ old manual system.
The automated duty drawback payment system has also been introduced wherein the claims are being directly credited to the exporters account through State Bank of Pakistan (SBP).
In FY 2019-20, the Collectorate cleared exports worth of $10.12 billion while in FY 2020-21, the Collectorate facilitated an export volume of USD 11.84 billion, which is 17% higher. Moreover, there is record collection of Rs 1.345 billion Customs Duty as against the collection of Rs 0.964 billion which is 40% higher than the previous year. The Collectorate has also facilitated the export manufacturing sector through the export facilitation schemes like DTRE, Manufacturing Bond and export-oriented units and supplied the duty and taxes-free raw materials to the export manufacturing sector to promote the overall exports of the country which has resulted in reducing the fiscal deficit and employment creation for the country.
The Collectorate also successfully launched the pilot project of the Authorized Economic Operators (AEO) program under the WTO’s Trade Facilitation Agreement to make our trade part of the safe and secure International supply chain mechanism. Three AEO licences have been granted to the exporting units of Karachi who are importing hassle-free raw materials and later on exporting their goods through swift lanes to the vessels.
The Collectorate has successfully aborted different attempts to curb the smuggling of narcotics. In one such attempt, the Collectorate foiled the attempt of smuggling heroin weighing 36.20Kgs valuing Rs 416.548 million through the consignment of footballs. All the accused have been arrested and facing trial before the Court of Law. In another raid, a large quantity of psychotropic substance, Ketamine, weighing 52.6Kgs valuing Rs 81.84 million was seized from the consignment of LED bulbs and the proceedings are underway in court.
Copyright Business Recorder, 2021