KARACHI: The authorities concerned of the Pakistan Customs have urged the State Bank of Pakistan (SBP) to make an effective system in connection with “reconciliation of Form-E”.
The sources informed Customs Today that the Model Customs Collectorate MCC-Exports was previously authorized by the competent authorities to check the authenticity of Form-E and to reconcile the issuance of that Form-E.
The sources further disclosed that the recent gold scam in imports/exports have raised many questions over the performance of State Bank of Pakistan (SBP) and other private banks, as around 300 fake Form-E have been used in gold scam which estimated to Rs 250 billion to Rs 300 billion. “During the period of around 2 years, a large quantity of gold was being imported and exported on fake Form-E”, sources added.
Directorate General of Internal Audit-Customs while following the directives of FBR high authorities has already started to investigate the gold scam which was witnessed on fake Form-E. The sources further said that the authenticity and verification of Form-E from State Bank of Pakistan (SBP) is mandatory in exporting the gold to foreign countries. Customs authorities have already sent letters to several private banks to check the authenticity of Form-E during the period of two years in exporting of gold.
