PM Shehbaz orders audit of customs-bonded warehouses

Prime Minister Shehbaz Sharif has asked the Federal Board of Revenue to commission a three-year audit of customs-bonded warehouses across the country, to be run by an outside firm, Dawn reported. The directive followed the discovery that a private company had allegedly exploited in-bond and out-bond procedures for short-term advantages. According to an official statement from the Prime Minister's Secretariat, the matter has already been looked into and settled.

Bonded warehouses, run by private operators, hold goods after customs clearance, and the premier said there is no room for irregularities in them. He warned that officials found involved in any wrongdoing or illegal activity would face strict action under the law. Physical checks of stock will take place across the country, while licensing, security, valuation checks and IT systems are to be tightened. Bonded trade makes up 16.5 per cent of total imports, and petroleum cargo monitoring is linked to the WeBOC system.

The premier also asked the FBR to speed up reforms, with its leadership spending two days a month in Karachi and Lahore and stepping up enforcement to meet revenue goals. The faceless Inland Revenue system will be fully rolled out by 2027, with its first stage starting on Oct 1. Unlawful cigarette production units in Chakwal and Swabi were closed, and illicit stock and machinery were confiscated.