KARACHI: The requirement of filing EIF/EFE with each Goods Declaration has been dispensed with as per amendments made in the Foreign Exchange Manual by the State Bank of Pakistan (SBP) in July 2021,  now the EIF and EFE will no more be issued by the bank for the GDs filed in One Customs.

Following process will be adopted for filing and processing of the GDs in One Customs:

• In order to complete an import or export transaction, the traders will have to get a Financial Instrument (FI) issued from the bank in respect of all modes of payment which may be letter of credit, contract, advance payment, open account etc.

• The FIs so issued will be shown in the trader’s profile in PSW.

• Upon ‘Out of Charge’ event, the customs officer having the role of ‘Form E/I Verification Officer’ in WeBOC will associate the relevant FI with the GD in the same manner as the officer associates EIF/EFE with the GD as of now.

• The appropriate officer will enter the GD number and value of the import/ export consignment in the system which will be tagged with the OneCustoms GD along with relevant FI.

Pakistan Single Window (PSW) has advised officers and staff about the changes brought about new scheme for clearance process in One Customs and the same information may also be disseminated to trade.