Tuesday, September 13, 2016 General Views 6,295

Mandatory EIF Requirement for Imports into Pakistan

What is Electronics Import Form Filing

EIF (Electronic Import Form) is a tool used by the government to monitor the source and outflows of foreign remittances and checks the goods that are imported without foreign exchange through the State Bank of Pakistan.

1. General Information

1.1 Background
Form-I Automation is incorporated in the Pakistan Custom’s electronic system called Web Based One Custom (WeBOC). The planned system creates linkages among all the concerned stakeholders in Pakistan. Upon completion system reduces the time consuming manual reporting/correspondence among the stakeholders. Import of goods into Pakistan is regulated by the Ministry of Commerce, Government of Pakistan, under the Imports and Exports (Control) Act, 1950 and the notifications issued from time to time there under. Currently, as per Para-32, Chapter XIII of Foreign Exchange Manual (Eighth Eidtion-2002), applications for remittance against imports into Pakistan should be made on Form ‘I’ which should be signed by the importer or his authorized agent.

1.2 Electronic filing of Form-I
EIF (Electronic Import Form) is a tool used by the government to monitor the source and outflows of foreign remittances and checks the goods that are imported without foreign exchange through the State Bank of Pakistan. Designated branches of the commercial banks are authorized to issue ‘Form-I’ on application by the importers. Electronic linkage of Custom’s Computerized System (WeBOC) with the commercial banks for the submission and verification of Form ‘I’ is an important initiative of the Pakistan Customs and State Bank of Pakistan. This initiative will help in prevention of import related frauds and provide direct interface between Customs and the Form ‘I’ issuing banks.

2. System Features Following are the key feature of EIF module in the WeBOC System:

2.1 File request for Issuance of Form-I:
This feature enables the Importer (in WeBOC Term ‘Trader’ is used) to file request for issuance of EIF to authorized commercial bank.

2.2 Amend Form-I request:
This feature enables the Importers to amend the Form-I in the WeBOC system which is pending for approval in the banks.

2.3 View Form-I Request:
This feature enables the Importers to view the GD after it’s been submitted.

POST AUTHOR
Director Business Development

I work as a Director Business Development at Tron Global (Private) Limited – Pakistan. Primarily responsible for international agency and overseas business development.