FAISALABAD: The Model Customs Collectorate Assistant Collector Ameer Ahmed delivered lectures to the importers and agents of dry port.
Assistant Collector Ameer Ahmed delivered lectures on the topic of private, public, Manufacturing Bonded Warehouses and Export oriented units (EOU). The aim of the lecture for the importers is to enable them to understand factors bearing on formulation and implementation of private public, manufacturing bonded warehouses and export oriented units with a view to preparing them for assignments at national policy level.
During the presentation, Assistant Collector Ameer Ahmed said Federal Board of Revenue (FBR) has empowered Collector of Customs to notify public and private, Manufacturing Bonded Warehouse in terms of section 12 and section 13 of the customs act 1969 Respectively and he also introduced small and Medium enterprise Rule 2008 for the Manufacturers cum exporters to avail duty taxes free import.
He further said, in public Bonded Warehouse the general traders and importers allowed to store their imported goods into the public Bonded Warehouse on filling an into Bond Goods Declaration (GD) without payment of assessed amount of duty and taxes leviable on these goods.
While, only difference between a public Bonded Warehouse and private Bonded Warehouse is that private bonded warehouse issued to an individual importer and trader in its name and that importer is only allowed to store the goods in that warehouse. Whereas, in Export Oriented Unit (EOU) the added advantage to licensee of an EOU as against a manufacturing Bonded Warehouse is that an Licensee is allowed to import plant, machinery, apparatus and capital goods without payment of duty and taxes in addition to the raw material to be utilized in finished goods.
Assistant Collector Ameer Ahmed gave valuable advice, suggestions, feedback and input. Their input has been penned down which would be communicated to the Federal Board of Revenue accordingly.
This lecture and training workshops groom the Customs clearing agent for the future in order to tackle severe issues. And also this will enable to provide inputs for formulating and implementing viable and pragmatic economic policies to meet challenges of growth and development.