ISLAMABAD: Federal Board of Revenue (FBR) has established new organization “Directorate General Input Output Coefficient Organization” (DG IOCO) which will look after evaluation of rates of duty drawbacks on exported goods, rates of input output of goods and rates of wastage of goods, meanwhile the organization will also keep close liaison with concerned ministries and departments.
Official sources told Customs Today that FBR issued notification of the newly operational organization Directorate General Input Output Coefficient Organization while also notified the job description, hierarchy of the organization.
Sources said that director general will lead the organization while directors, additional, deputy and assistant directors, audit officers, principle appraisers, appraisers, senior auditors, superintendents, deputy superintendents and inspectors will also be part of its hierarchy.
Moreover, director general, directors, additional, deputy and assistant directors will have the power and authority under the section 155P, 208, 26, 155C, 155D, 155M, 155N, 155R, 155B, 91 and section 211 of Customs Act 1969.
Sources also told that Directorate (headquarter) will be established in Karachi while Director IOCO North Islamabad, Director IOCO Central Lahore and Director IOCO South Karachi will work under the headquarter has operational new organization.
