FBR rolls out module for online EFS in WeBOC System
ISLAMABAD: The Federal Board of Revenue (FBR) has successfully developed and rolled out a new module in WeBOC system for online Export Facilitation Scheme (EFS) authorisation application, a statement said on Wednesday.
The exporters can avail this facility after getting registered in the WeBOC System. In this regard, a new feature has been added in the WeBOC menu “Export Facilitation Scheme (EFS)/Export Oriented Unit (EOU)/Manufacturing Bond (MB).”
The licence application, which is available in the WeBOC System, is to be filled online by the respective traders/exporters.
The online EFS application would be submitted to the relevant Customs formation where after initial scrutiny, it would be marked to the regulatory authority, which will further execute the approval process. In both the cases where the licence is approved either provisionally or finally, it will be forwarded to IOCO and the EDB for the issuance of analysis certificate and message will be sent to the trader/exporter, the statement said.
An additional feature has also been introduced in the WeBOC System; whereby, the traders can apply online for the licence of Common Export House.
The Common Export House will provide facility of purchasing imported intermediary goods/raw material to the Small and Medium Enterprises (SMEs), as well as direct and indirect exporters.
The stakeholders that include SMEs, exporters, Customs agents and the Ministry of Commerce immensely lauded the initiative as a tool that will provide the much-needed lift to Pakistan’s industry and exports, in turn creating employment opportunities and earning foreign exchange for the country.
By launching the EFS module, Pakistan has achieved an important milestone envisaged in the Trade Facilitation Agreement, 2017. This initiative will remove the bottlenecks being faced by the Small and Medium Enterprises in exporting their goods; thus, playing an effective role in improving the country’s rating on the World Bank’s Ease of Doing Business and Trading Across the Borders indices.
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