ISLAMABAD: Federal Board of Revenue (FBR) has established Economic Operator Program to make sure secure supply chains of imported and exported goods. The program will be effective from July 1, 2018.
Official sources told Customs Today that the main aim and purpose of this authorized Economic Operator Program is to ensure regulatory control by Customs department on the import and export and to safeguard the supply chains of imported & exported goods.
Sources further said that Federal Board of Revenue has amended the Customs Act, 1969 and inducted a new Section 212 (A) through Finance Bill 2018 for the purpose to endorse the Economic Operator Program.
“The federal government, by notification in the official gazette, formulated authorized Economic Operator Program to facilitate and secure supply chains of imported and exported goods through simplified procedures with regard to regulatory controls applicable by Customs Department,” sources added.
The Federal Board of Revenue may, with approval of the federal government, propose rules on matters related to authorized economic operator program.
