KARACHI: The Input Output Co-efficient Organisation (IOCO) has completed the process of issuance of final certificates to the local manufacturers, who fulfill the requirements under SRO565 (I)/2011.
The sources informed Customs Today that around 55 final certificates have been issued to the local manufacturers during the time period of eight months i.e. from July-2014 to February-2015.
“The IOCO authorities concerned have completed the entire process of issuance of final certificates in eight months instead of 12months adding that study and surveys were conducted before issuance of final certificates to the local manufacturers under SRO 565(I)/2015”, sources added.
Responding to a query, the sources informed that each and every required document including I-Form, Sales Tax details, income tax details, production capacity and machinery details of the local manufacturers have been verified before issuance of final certificates under SRO565(I)/2011. The sources further claimed that 35 final certificates have been issued to the local manufacturers after conducting complete survey during the last three months.
IOCO authorities concerned after the announcement of budget for the fiscal year2014-15 had started to issue provisional certificates to the local manufacturers in the first phase and then started to issue final certificates as per the quota mentioned in the SRO 565(I)/2011 in the second phase.
Responding to another query, the sources said that the IOCO authorities while following the directives of their high-ups had adopted transparent system and keep the facilitation of the local importers in front in issuance of final certificates as per the allocated quota under SRO 565(I)/2011.
