Quantcast
Monday , November 20 2017
Breaking News
Home / Breaking News / ‘Increase in exports is an encouraging indicator for economy’
‘Increase in exports is an encouraging indicator for economy’

‘Increase in exports is an encouraging indicator for economy’

ISLAMABAD: The Exports Section of the Model Customs Collectorate (MCC) Islamabad earned Rs870.53 million from 1st to 20th of August Financial Year (FY) 2017-18. Surgical and leather goods and fresh meat had been the main exports in the international market during above said period.

According to details given by Deputy Collector Tahir Khattak, who supervises the Exports, State Ware House (SWH) and Unaccompanied Baggage Sections while talking with Customs Today in an exclusive interview, answered a query that without filing the “E” form’s requirement no one can join the export business. He told CT that E-form comprises NOC, C&F and B/L which are required for the person who wants to do the business of exports.
Explaining the E-form’s requirement, he said that No Objection Certificate (NOC) is needed for exporter which is issued when the shipment is exported against 100% payment in advance. The bank issues this NOC to shipper to consign the shipment directly to the consignee.
He said the exporter also requires C&F Certificate. This certificate is issued when the shipment is processed on the basis of C&F. He said that another requirement is called B/L Issuing Authority Letter. This certificate is issued when the shipment has to move by sea and, in case of by air export shipment, this certificate is not issued.
Concluding the query, he said if a single person asks for E-form then he should look for other small exporters and make a group and do export business by completing the procedure of E-form collectively.
He said the government must offer incentives to exporters and pay pending rebates of exporters as soon as possible so that local exporters can do their business easily.
Deputy Collector Tahir Khattok, talking about the initial 20 days of August FY17-18’s performance, said the Export Section of the Model Customs Collectorate (MCC) Islamabad generated the business of Rs870.53million during above said period while it entertained 2,030 Goods Declarations (GDs).
He said that, during the first 20 days of August FY2017-18, the Export Section noted major export items which comprise surgical goods, fresh meat, leather garments, sports goods and pharmaceuticals.
He further said that, during the Financial Year 2016-17 with the value of goods around Rs300.00million against the last two corresponding Financial Years of 2014-15 and 2015-16, exports and quantity of GDs also increased against abovementioned corresponding financial years.
Deputy Collector said that, during the 1st July to 30th of June FY16-17, Exports were estimated at the value of Rs26,645.00million whereas the GDs filed during said period was estimated at Rs29,551, so the average per GD value is estimated at Rs0.9270million per GD during said period. The sources said the increase in exports is a better indicator for the economy.