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Delay in launching of Electronic Data Interchange causing loss of Rs 100 billion

Delay in launching of Electronic Data Interchange causing loss of Rs 100 billion

ISLAMABAD: The Chinese exporters are creating hurdles in launching of Electronic Data Interchange System between Pakistan and China, sources said.

Sources told Customs Today that due to non-availability of import and export data, Pakistan is bearing revenue losses of more than Rs 100 billion under the head of customs duty and other taxes.

Sources said that Federal Board of Revenue (FBR) has requested the finance and commerce ministries to consult the Chinese government to resolve the issue on priority basis.

The FBR has suggested to brings this matter with Chinese government, including Chinese premier and with other offices and political leader ship and especially during their official visits to China this point must be incorporated in agenda.

Federal Board of Revenue has send the same proposal to the prime minister and president offices with small amendment that this topic make the part of agenda in near future talks between China and Pakistan at any level and directions may be issued to other relevant department.

It is pertinent to mention here that Memorandum of Understanding (MOUs) has been signed between China and Pakistan in this regard. But now the project is completed and technical system is already installed at Pakistan and Chinese side, but Pakistan is still looking at to China Customs Administration Authority for execution of plan.