ISLAMABAD: Pakistan Customs has developed an e-commerce automated clearance facility in collaboration with State Bank of Pakistan, Ministry of Commerce and e-commerce operators.
According to a handout issued by the Federal Board of Revenue, the new system will facilitate e-commerce trade and document e-commerce exports from Pakistan. The system allows commercial banks to register e-commerce traders in the WeBOC system of Pakistan Customs.
Under the SBP regulatory framework for B2C e-Commerce exports, exporters shall export their e-commerce consignments without the requirement of E-Form up to $5,000 per consignment. The shipments shall be made through courier companies registered with Pakistan Customs who shall file the Goods Declaration in WeBOC system on behalf of exporters.
Each individual consignment shall be identified on the basis of unique HAWB number. The details of export shipments shall be accessible to banks in the e-commerce profile of the exporters in the system after the export of goods from Pakistan.
The exporter shall be required to ensure realization of export proceeds within 60 days from the date of shipment. The export proceeds shall be received from abroad by commercial banks, through banking channel or international payment scheme/gateway, either in foreign currency or in Pakistani Rupee from Non-Resident Rupee Account Repatriable.
Various MIS reports have been provided in the system to the SBP and commercial banks for settlement of export realization and fulfillment of other regulatory requirements.
The e-commerce operators have lauded the initiative that will remove the difficulties faced by the SME sector in exporting their goods, thus playing an effective role in improving the country’s rating in the Ease of Doing Business Index.