MCC Appraisement announces to liquidate pendency of security instruments

KARACHI: Model Customs Collectorate (MCC) Appraisement (West) has said it has huge pendency in Bank Guarantee Cell (BGC) that is piled up over the years due to various reasons.
The collectorate said to liquidate the pendency, it had constituted a dedicate team which would scrutinize all pending securities on the basis of available documents and ensure release / encashment of securities before June 20, 2014.
The customs collectorate said that the pendency was due to importers had not fulfilled the conditions laid down in the notification under which security was obtained and such security instrument is liable to be encahsed.
In order to avoid any hardship to the importers and to avoid legal complications, the collectorate asked such importers themselves or through their authorized clearing agents to prove that the conditions laid down in the relevant SRO, have been fulfilled or otherwise, so that the fate of security instruments is decided accordingly.
In this regard, all importers and their authorized clearing agents are advised in their own interest for the following:
Review, all pending securities deposited with the BGC which still have not been released by the collectorate. They are requested to intimate the current status regarding the fulfillment of conditions laid down in the relevant SRO of each security to the BG cell so that release or encashment of security instrument is decided.
In case the condition/formalities laid down in the SRO notification under which security was deposited have already have been fulfilled and intimated to concerned section, then proof of such intimation may be provided afresh to BG cell so that securities may released.
In case there is any change in particulars of an importer such as address, bank account details, ownership etc, the same should be intimidated to 3G cell immediately. BGC is issuing/dispatching notices on available addresses and in case of return or non-delivery of notices, the security instruments shall be encahsed without further notice.
Ensure that sufficient amount, not less than the amount of security instruments deposited in BGC, is available in tier given bank accounts. In case, securities/cheques are returned due to in sufficient balance or any other reason, this collectorate would initiate penal proceedings as per law.
The collectorate said that required information should be submitted by importers or clearing agents by May 10, 2014 in case of failure the collectorate would initiate the encashment of securities on the basis of available records.

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