Federal Board of Revenue (FBR) has extended the utilization period of inputgoods under export facilitation schemes up to February 28, 2021, theauthority announced through their Twitter handle on Wednesday.
This extension is applicable for all three schemes that are ManufacturingBond, Export Oriented Units and Export Processing Zones. This measure shallensure that the feared losses of these exporters due to Covid-19 Pandemicwherein orders were either canceled or delayed shall be addressed, FBR said.
The utilization period may be understood as the time duration starting onthe effective date of an agreement or sale contract and ending on eitherthe day when the facility amount is fully used or a set date given for theutilization of that amount.
To simplify it further, the FBR has given more time to the exporters to usethe government’s export facilitation scheme because they have not been ableto move their goods within the previously allowed time limit by the FBR,due to constraints brought on by the Coronavirus pandemic and suspension oftrade and movement of goods.
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FBR also said that the Pakistan Customs department of the FBR is committedto achieve the vision of the prime minister for the facilitation ofexporters and addressing their genuine hardships on a proactive basis attheir doorsteps. “Such steps shall boost exports and will result in tradefacilitation by ensuring the competitiveness of our exported goods ininternational markets.”
