KARACHI: Input-Output Coefficient Organization (IOCO) has issued provisional certificate to M/s. Pakistan Telephone Cables Limited for the import of raw material at reduced rates of duty and taxes.
According to the document, M/s. Pakistan Telephone Cables Limited located at Lasbella, Balochistan registered as manufacturer had applied for the import of raw material at concessionary rates available under SRO 565(I)/2006 amended vide SRO 565(I)/2014 dated June 26, 2014.
The following raw materials for the manufacturing of Cables and Conductors, as mentioned in the SRO 565 are allowed to be imported at concessionary rate subject to the conditions:
— Core covering tape, 7,230 kgs at 10 percent ad val.
— Aluminum strip, 7,500 kgs at 10 percent ad val.
— Copper covered steel wire, 173,875 at 10 percent ad val.
— Binder yarn, 3,750 kgs at 10 percent ad val.
— Identification tape, PP Film/Filler/Tape, 2,500 kgs at 10 percent ad val.
— Malinex Tape, PP Film, Polypropylene Tape, 9,375 kgs at 10 percent ad val.
The unit has also been allowed the import at concessionary rates on the items that is hit by local manufacturing CGO 11/2007 dated August 28, 2007, therefore, may be released by the clearance collectorate as per conditions of the CGO ibid.
— Aluminum foil strip (both sides PE laminated) for the quantity of 38,629 kgs at 10 percent ad val.
The IOCO said that that the certificate is being issued provisionally subject to the following conditions:
i. The provisional certificate is being issued on the basis of information, provided by applicants in accordance with SRO 565 as amended from time to time and shall be valid till June 30, 2015. However, in case PCT headings turn out to be different then the declared headings after examination at clearance stage, the clearance collectorate shall check the local manufacturing conditions as per CGO 11/2007 dated August 28, 2007 before allowing release of goods and shall inform IOCO accordingly.
ii. The raw materials shall be released against deposit of post dated cheque (PDC) for the differential amount of statutory rates of customs duty and concessionary rates of customs duty at the time of clearance by the respective Customs Collectorates.
iii. The import and clearance of raw materials as allowed under the SRO is restricted to Karachi Port only.
iv. All conditions and prerequisites of the SRO shall be fulfilled by the applicant for claiming concession under the certificate.
v. Issuance of the provisional certificate does not entitle for concession if such concession is either not covered under the SRO as amended from time to time or is barred under any other instruction, directive or order issued by the collectorate in this regard.
vi. The provisional certificate shall be cancelled retrospectively, without any notice, if it is found that the applicant has mis declared or concealed any materials facts.
vii. In case of withdrawal of concessions, the utilization of raw materials shall be subject to statutory rates of customs duty.
viii. The input materials mentioned herein shall be subject to all such conditions, limitations and restrictions with regard to their importability as are stipulated in the provisions of the Import Policy Order in vogue. Import conditions shall be checked at the time of clearance by respective collectorates.
The IOCO said that the applicant – M/s. Pakistan Telephone Cables Limited, Karachi – is required to observe all requisite formalities and furnishing of the information, as prescribed under the SRO required by the office, for determining the bonafide of the concessions sought by the applicant, failing which, necessary action shall be initiated, as required under the SRO and relevant provisions of Customs Act, 1969.