The Federal Board of Revenue (FBR) has started enforcing strict documentation of exporters after lifting ban on export of wheat/wheat products by private sector. The FBR has issued instructions to all Model Customs Collectorates (MCC) for checking the export consignments of wheat/wheat products to monitor quality of the commodity being exported.
Sources told Business Recorder here on Saturday that the Economic Co-ordination Committee (ECC) of the Cabinet in the summary submitted by the Ministry of Food & Agriculture took some decisions. The ECC approved lifting of ban on export of wheat/wheat products by the private sector and the Punjab government.
Secondly, subsidy if involved will not be picked by the government. Thirdly, the FBR, Ministry of Commerce, State Bank of Pakistan would monitor the exports. The Ministry of Commerce accordingly issued SRO No 1124(1)/2010, lifting ban on export of wheat/wheat products.
As regards the monitoring of exports, Customs officials at the export stations would maintain proper record of exporter-wise quantity of wheat and wheat products exported. The Collector of Customs shall report the quantity of wheat and wheat products exported, on weekly basis, to FBR, and FBR would submit a consolidated weekly export quantity to D-G (Trade Policy), Ministry of Commerce. Further, SBP shall monitor wheat/wheat products exports made against E-Form, and furnish weekly position to Commerce Ministry, for information and record.