FBR Waives off Penal Surcharge on Overstayed Goods by Extending the Warehousing Period up to 30th June 2012

In a bid to provide relief to the business community, FBR has decided here today to further extend warehousing period and waive off the penal surcharge on overstayed goods, lying un-cleared in the Customs Bonded warehouses up to 30th June, 2012.

This measure will facilitate the trade and industry and commercial importers who have not been able to clear their goods up to 15th June, 2012 on payment of duty and taxes. This facility is also available for ex-bonded clearances made during the period from 21.05.2012 to 30.06.2012.

The decision was taken by making necessary amendment vide SRO-751(I)/2012 dated 18.06.2012 in its earlier notification SRO-522(I)/2012 dated 21.05.2012. Copy of Notification No.SRO-751(I)/2012 is attached.

Riffat Shaheen Qazi
Member (FATE),Official Spokesperson, FBR