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ISLAMABAD: In a major development, Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to conduct an independent, three-year, third-party audit of customs-bonded ware-houses nationwide.
The issue came to the prime minister’s notice after a private company was recently found to have allegedly manipulated in-bond and out-bond rules for temporary gains. The matter was investigated and resolved.
An official announcement from the Prime Minister’s Secretariat said the premier has reviewed the existing rules and procedures governing bonded warehouses. These facilities, run by the private sector, store goods after customs clearance.
The premier said there was no room for irregularities in customs-bonded warehouses. He said strict action would be taken against officials found involved in any irregularity or illegal activity in accordance with the law.
