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FAISALABAD:Faisalabad Chamber of Commerce & Industry (FCCI) President Dr. Khurram Tariq had a meeting with Madam Suraiya Ahmad Butt, Member Customs (Policy) and discussed various issues regarding customs particularly faced by the exporters and SME sector.
Madam Suraiya appreciated the suggestions and assured to take appropriate steps to resolve the same.
Dr. Khurram Tariq pointed out that vendors are not supplying goods at zero rating to EFS-approved units and customs should give clear-cut policy to ensure its compliance. He said that revolving bank guarantee is required for registration under 876 i.e., Security Instrument for Authorization of Category B2 and C2. He said that this condition should be removed for the registration purposes. About categorization of exporters under 743, he proposed that the word “production” should be replaced with the word “Sales/Turnover”.
He further said that insurance guarantee means a guarantee issued by an insurance company registered with the Ministry of Commerce and has a minimum PACRA rating of AA. He proposed that the condition of furnishing insurance guarantee may also be abolished and respective associations of the exporters may be assigned certain roles in this regard.
Dr. Khurram Tariq appreciated the keen interest of Madam Suraiya in resolving the issues of the exporters and hoped that she would give due consideration to his suggestions.
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