KARACHI: The Federal Board of Revenue-FBR has decided to introduce Form-I in all import consignments from Customs Collectorate Appraisement (East), Appraisement (West) and Appraisement Port Muhammad Bin Qasim, it is learnt here.
Sources informed Customs Today that the FBR has completed all its work regarding introduction of Form-I on the pattern of Form-E in coming days.
Responding to a query, the sources said that the pattern of Form-I would be implemented in the current month i.e. March, adding that the Form-I would first implemented in all three collectorates of Karachi and then subsequently across the country.
Elaborating the working of Form-I, the Customs sources informed that the importers would import their consignments after getting Form-I from all commercial banks and with the consent of State Bank of Pakistan (SBP).
“The importers should submit the Form-I in commercial banks and then import the consignments adding that the authorities concerned of SBP and commercial banks would check the veracity of imported consignments”, sources added.
The sources further disclosed that the Customs authorities have already taken State Bank of Pakistan and all commercial banks on board before introducing Form-I in trade affairs.
“The Directorate of Reforms and Automation has already completed its automation working in connection with introduction of Form-I and soon it would be launched in importation of consignments from different destinations”, sources added.
