KARACHI: The Pakistan Customs and the State Bank of Pakistan (SBP) have decided not to accept any Form-E which has incomplete details given by the exporters, it is learnt here.
According to details, a meeting of the Customs Export and the SBP was held recently at Customs House in which it was decided that the authorities will not entertain those Forms-E which have insufficient details, adding that the customs authorities would also take action against those exporters who willfully provide incomplete details to the customs authorities.
In the meeting, it was further decided that the scrutiny of the verification of Form-E would also be increased in order to ensure payment of foreign exchange against the exports consignments.
It may be mentioned here that the State Bank of Pakistan (SBP) has also directed all the commercial banks to ensure complete details given by the exporters on Form-E, so that transparency in exporters’ consignments could be prevailed.
“It is also mandatory for the exporters to provide complete and authentic information to the customs, docks and banks authorities through Form-E”, SBP maintained.
The sources informed Customs Today that it was transpired that some unscrupulous elements are not providing their accurate details to the customs and bank authorities.
That is why the SBP has issued directives to commercial banks to ensure complete verification of Form-E before issuance of the documents.
