'EFS Being Implemented To Improve Ease Of Doing Business'

Collector Customs Faisalabad Muhammad Saeed Wattoo has said that the Export Facilitation Scheme (EFS) has been implemented with an objective to improve ease of doing business and reduce liquidity problems of exporters

FAISALABAD, (UrduPoint / Pakistan Point News - 6th Jun, 2023 ) :Collector Customs Faisalabad Muhammad Saeed Wattoo has said that the Export Facilitation Scheme (EFS) has been implemented with an objective to improve ease of doing business and reduce liquidity problems of exporters.

He was addressing an awareness session on the EFS scheme organized by the Pakistan Textile Exporters Association (PTEA) here on Tuesday.

The Collector Customs briefed the session participants that the Federal board of Revenue (FBR) had developed various modules for smooth functioning of the EFS and for facilitating all categories of exporters including both direct and indirect exporters.

He briefly enlightened the salient features and benefits of modules which focus on facilitation of exporters.

He said that indirect exports were a major component of the EFS and a mechanism for transfer of raw materials and semi-and-fully-finished goods, including local sales, had been deployed in the scheme and exporters were getting all features in one scheme.

He said that Faisalabad was on top priority regarding the EFS scheme because the basic target in the scheme was the export sector.

He said that currently there was a liquidity crisis in the country due to various reasons and Export Facilitation Scheme was a good opportunity for the business community in these challenging times.

Addressing the session, PTEA leader Ameer Ahmad appreciated the government's initiative of "Pakistan Single Window (PSW)" to provide a single electronic platform for facilitating compliance with regulatory regime for cross border trade in Pakistan.

He said that Faisalabad was an important economic and textile hub and totally export-oriented city globally known for its quality products, unique export culture and for manufacturing value-added goods. Through export, Faisalabad was earning foreign exchange amounting to over US$ 4 billion per annum and strengthening the national exchequer, he added.

The Additional Collector Customs Mateen Alam, Assistant Collector Isfandyar Ikram and a large number of textile exporters were present in the session.

Later, PTEA insignia was presented to the collector.