RECORDER REPORT

KARACHI: All Pakistan Customs Agents Association (APCAA) has requested the State Bank of Pakistan (SBP) to extend the limit of Electronic I-Form (EIF) up to US$ 10,000 for submission of payment receipt of seller at the time of clearance of goods through Pakistan customs.

In a letter sent to SBP Governor, the association said that the huge trade deficit and poor taxation system are hindering the progress of the country that promotes smuggling, corruption, unfriendly government policies, SRO culture, malpractices and other illegal elements.

As like cash carrying limit of US$ 10,000 for any foreign trip, taxpayers should also allow similar limit on import of goods.

Therefore, it is requested to relax the EIF limit up to US$ 10,000 for submission of payment receipt of seller at the time of clearance of goods through Pakistan customs.

The APCAA also asked the SBP Governor to call meeting of all stake holders i.e. FPCCI, All Chambers/Association and service provider to discuss the issue in detail and decide the matter on merit amicably.