FBR notifies rules to launch authorized economic operator program
ISLAMABAD: Federal Board of Revenue (FBR) has notified rules to launch Authorized Economic Operator (AEO) program to improve trade and business environment in the country. The AEO was launched by inserting Section 212A was inserted in the Customs Act, 1969 through the Finance Act, 2018. The FBR now issued AEO rules vide SRO 798 (I) /2020 dated August 28, 2020. FBR has also constituted AEO Approval Committee in this regard which is finalizing the request of applicants. Software for business process and WeBOC modules for AEO programme has already been developed and is ready for launch at present. The FBR intend to start Pilot project of the AEO programme at MCC Port Qasim (Exports) Karachi in October, 2020, which will be later on extended to import sector as well. The World Customs Organization’s (WCO) Authorized Economic Operator (AEO) Programme is one of the pillars of WCO’s Framework of Standards to secure and facilitate trade (SAFE). The programme is widely acknowledged as a key dr