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IOCO starts to issue ‘final certificates’ to importers under SRO565

IOCO starts to issue ‘final certificates’ to importers under SRO565

KARACHI: The Input-Output Co-efficient Organization (IOCO) has started to issue final certificates to the importers under SRO565(I)/2013 in order to allow them to import machinery, raw materials and other equipment into country, it is learnt here.

The sources informed Customs Today that the process of issuance final certificates is continued and would be completed by the end of March-2015.

They further said that the IOCO authorities concerned in first phase issued provincial certificates to the importers and after scrutinizing the import data has started to issue final import certificate to the parties under the SRO565(I)/2013 which allows them to import the raw-material, machinery and other equipments into the country.

The sources further revealed this scribe that around 100 certificates have been issued to the different importers after scrutinizing their import data and remaining certificates would be issued in three to four months.

To a query, the sources disclosed that the authorities concerned of IOCO have clear directives in order to issue final certificates after conducting thorough scrutinizing of the import data of the importers who applied for getting final certificate in importing the consignments under SRO565.

It is pertinent to mention here that the IOCO authorities concerned have started the said process after the announcement of budget 2014-15 and started to issue provisional certificates to the importers in first phase from September-2014.