To exchange trade data between Pakistan and China, a Connectivity Bus has been developed and it would be launched soon. This system would play a vital role in controlling the issue of under-invoicing.
Connectivity Bus is a modern system developed with the latest technology that would drastically reduce under invoicing in a trade with China. A modern system is also being developed for checking of trading goods. It would reduce human involvement and ensure transparency.
This was stated by the Chief Collector Customs, Karachi Zahid Khokhar while speaking at the Lahore Chamber of Commerce & Industry.
Chief Collector Customs said that WeBOC is a program of international level and far better than the contrary software. He said that this system has been developed by the local experts and the entire world is acknowledging its efficiency. Regarding Electronic I-Form, he said that data has been compiled and brought into this system.
Work is well on the way to make this system friendly. The smuggling has been reduced due to good work of the law enforcement agencies. Stringent measures have also been taken to control illegal trade from Pak-Afghan border.
The LCCI President Abdul Basit, former President Shahid Hassan Sheikh, former Senior Vice President Malik Tahir Javed, former Vice Presidents Aftab Ahmed Vohra, Shafqat Saeed Piracha, Executive Committee Members Moazam Rasheed, Tariq Mahmood and Muhammad Arshad Chaudhry also spoke on the occasion.
The LCCI President Abdul Basit said that the business community of Pakistan is striving hard to sustain their businesses through persistent hard work and efforts. The economic policies of the current government are playing a positive role in reviving the economy of the country.
Abdul Basit said that the government should take steps to control smuggling at the borders. The Frontier Core deployed there should be equipped with state of the art technology equipment and should be made more vigilant. They should be advised and educated to play their role in controlling smuggling by exercising their authority under Customs Act.
He strongly proposed an online system between borders which should be an essential prerequisite for the importing and exporting parties consequently giving them pre-arrival information about the trade items. This will pave the way and save time.
Former LCCI office-bearers Shahid Hassan Sheikh, Malik Tahir Javed, Aftab Ahmed Vohra and Shafqat Saeed Piracha said that number and ratio of duties and taxes should be reduced to promote the tax culture. They said that Afghan Transit Trade is one of the major sources of smuggling, therefore, it should be reviewed.