KARACHI: The State Bank of Pakistan (SBP) has shown a keen interest in participation in the Web Based One Customs (WeBOC).
WeBOC is a computerised clearance system of the Pakistan Customs that provides real-time data integration of agents, brokers, terminal operators, cargo handlers and customs officials for the clearance of consignments and collection of duties and taxes.
Talking to Customs Today, FBR Directorate General of Reforms and Automation Director Abdul Majid Yousfani said that the directorate had approached the State Bank of Pakistan some time ago to know its views about WeBOC participation to help streamline the export trade digitally. The participation would enable the bank in receiving the export-earned foreign proceeds at the earliest. It would also help the SBP in keeping track of export trade digitally, he added.
An SBP delegation visited the directorate some time ago to discuss the benefits of WeBOC participation.
“We will soon be reciprocating the gesture by visiting the bank and discussing the project with the relevant authorities soon,” Yousfani added.
