KARACHI: Collector Appraisement East Majid Yousafani has advised all the exporters to apply to their respective banks for issuance of electronic Form-E through WeBOC so that there is no delay in their shipments.
Electronic E Form facility has been introduced in WeBOC w.e.f November 02, 2015. To facilitate exporters in obtaining their electronic E Forms from Authorized Banks, an intervening period has been allowed during which they can file requisite applications using their secure WeBOC login/password.
Thereafter all exports through WeBOC that take place on or after November 11, must have electronic Form-E attached to their respective export GD.
It may be mentioned here that State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) have signed MoU to the effect of automation of Form-E, which would have manifold benefits to all stakeholders and the country would reap advantages of increased inflow of foreign exchange.
In order to streamline issuance of Form-E, State Bank of Pakistan and the Pakistan Customs had initiated a project for the automation of the process of issuing Form-E.
In this regard, an Electronic Form-E (EFE) module has been developed in consultation with relevant stakeholders and incorporated in the Pakistan Customs’ electronic system called Web based One Customs (WeBOC).
The landmark development is expected to provide several benefits to stakeholders including reduced cost of doing business for exporters, efficient processing of duty draw back claims of exporters, elimination of fake/forged Form-E, improve repatriation of foreign exchange besides bringing efficiency to the current system.
FIA, Internal Audit Customs and External Audit has detected loss of revenue and foreign exchange to the tune of billions of rupees through fake Form-E.