KARACHI: The Input-Out Co-efficient Organization (IOCO) on the directives of Federal Board of Revenue (FBR) has started survey of manufacturing units. The IOCO has recently issued provisional certificates to these units for manufacturing products by importing raw materials as per allocated quota.
One of the senior officers in IOCO-FBR confirmed that survey of the manufacturing units has been started and the process will continue until completion of the process.
To a query, he elucidated that the IOCO issued around 50 provisional certificates during a month and allocated a specific quota for a year as per strength of the units.
Replying to another question, he said the IOCO has taken the said step for issuance of the provisional certificates keeping in view the economic growth of the country.
Elaborating the entire process, the IOCO officer revealed that the FBR will issue final certificate to those importers and manufacturers after making sure the proper and continued manufacturing and production process of the units as per allocated quota.
It is pertinent to mention here that the issuance of provisional certificates to the different manufacturers/importers will certainly boost the economic activities of the country. Under SRO 565/2014, it is mandatory that importers will import the raw material as per concessionary regime and the manufactured products will be circulated in the local market after production.
