Securities Receiving Officer made responsible to manage financial instruments and securities in WeBOC system

KARACHI: The Model Customs Collectorate of Customs (Appraisement) Karachi has installed a mechanism to manage the receipt and safe custody of financial instruments and securities in WeBOC system.
According to the notified procedure, there will be a Securities Receiving Officer (WeBOC) who shall besides feeding of the relevant particulars of the securities in the WeBOC system, maintain a separate manual register for the receipt of the securities and financial instruments such as pay-orders, PDCs and bank guarantees etc. submitted through WeBOC.
The relevant details pertaining to the financial securities such as name of the importer alongwith NTN number, clearing agent, type of security and details of the consignment and amount involved shall be entered in the register on daily basis.
The securities received shall be forwarded to the bank guarantee section on daily basis where received shall be physically kept in custody.
The securities shall be received and dispatched under proper acknowledgement of the concerned PA/AO/EO as the case may be.
A daily statement reflecting the receipt and dispatch of the securities shall also be maintained by the Security Receiving Officer for the maintenance of record and reconciliation.
The officer shall also generate a monthly statement of all such securities that are nearing their expiry and submit the same to the DC(BG) for further necessary action as per the merits of the case.

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