KARACHI: Despite lapse of over a month, State Bank of Pakistan (SBP) has not operationalized the online verification portals for Proceed Realization Certificates (PRCs), which Customs had requested for smooth clearance of imported vehicles.

Due to the non-operational of online verification, certain elements took benefit of this loophole and caused loss to the national exchequer.

MCC Appraisement West booked several importers and clearing agents for importing and clearing vehicles against submission of fake Proceed Realization Certificates (PRC), Encashment Certificates. On the directives of Collector Tahir Qureshi, Deputy Collector Raza Naqvi formed a team comprising Principal Appraiser Taufeeq Shaikh and Appraising Officer Ghani Soomro to scrutinize the data, and subsequent verifications of these documents from concerned bank were conducted.

It is pertinent to mention here that the Ministry of Commerce inserted certain legal requirements vide Appendix-E of the Import Policy Order to be fulfilled for the import of old/used vehicles by Overseas Pakistanis availing baggage/transfer of residence and gift schemes.

Accordingly, all vehicles in new/used condition to be imported under transfer of residence, personal baggage and under gift scheme, the duty and taxes shall be paid out of foreign exchange arranged by Pakistan nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittance to local currency.

The remittance for payment of duties and taxes shall originate from the account of Pakistani national sending the vehicle from abroad; and the remittance shall either be received in the account of the Pakistani national sending the vehicle from abroad or, in case, his account is non-existent or inoperative, in the account of his/her family”

The accused persons imported vehicles on fake PRCs and Encashment Certificates.

Meanwhile, a meeting was held with Customs Collector East Fayaz Rasool and West Tahir Qureshi along with the Additional Collectors Saad Atta Rabbani and Shakir Muhammad and Deputy Collector Raza Naqvi were also present.

The meeting discussed the current issues regarding the verification for the PRC and smooth working of car group to ensure the saving of interest of overseas Pakistanis.

H.M Shahzad Chairman APMDA, Muhammad Naeem Shano (President ATIAK) Clearing Association President Saifullah and Saad Qureshi were also present.

Saifullah said the online verification module had not been activated by the SBP. He said Customs was processing the GDs, the delay was because of the verification from the banks. He informed 3,200 vehicles had been cleared of around 4300 vehicles in the last one and a half month.