KARACHI: Director Input Output Co-efficient Organization (IOCO) Shahnaz Maqbool has given the authorities a deadline until September 30 to determine the new duty drawback rates for the year 2016-17, it is learnt here.
Sources informed Customs Today that the IOCO director chaired a meeting to discuss the new duty drawback rates for the year 2016-17, directing the officials concerned to finalize the rates as early as possible.
The sources further said that the authorities have already collected all necessary information in this regard and already started its working to determine the new duty drawback rates.
Responding to a query, the sources informed Customs Today that the Federal Board of Revenue (FBR) has already issued directives to the IOCO to finish the work for the determination of the duty drawback rates as soon as possible.
It is pertinent to mention here that the IOCO authorities concerned on the directives of FBR high authorities were determined the DDB rates for the year2015-16. However, those rates were not being implemented by the FBR authorities.
The sources informed that the authorities concerned of IOCO have given the deadline issued by the Director IOCO as a challenge and striving hard to determine and complete their working in this regard by 30-September, 2016.
