The Federal Board of Revenue (FBR) has notified the powers and functions of the newly created Director General, Directorate-General of Customs Risk Management.
The FBR issued a notification on Tuesday to notify the functional jurisdiction of the Director General, Directorate-General of Customs Risk Management, Islamabad, and the Director, Directorate of Customs Risk Management Karachi.
The jurisdiction of the Director General, Directorate-General of Customs Risk Management, Islamabad would extend to risk management of all customs clearance systems relating to imports, exports, and allied functions in respect of all customs formations.
The directorate would be engaged in the planning, designing, and implementation of an overall risk management strategy and system and its application on clearance import and export consignments; monitoring, evaluation, and upgradation of risk management strategy and system in the light of changing national and international trends.
It would be engaged in the upgradation of risk management strategy and system on the basis of analysis of clearance of various sectors and commodities, pattern of adjudication Proceedings and other legal matters and outcome thereof; protection, security, and maintaining confidentiality of the Risk Management System (RMS) data and records.
Director, Directorate of Customs Risk Management Karachi oversees matters related to administration, budget allocation, and expenditure in the jurisdiction of the Directorate-General; identifies requirements and recommends internal controls for the protection of revenue and facilitation of genuine trade; develops and maintains a risk register of risk profiles, risk indicators and selectivity procedures for RMS; analysis of clearances of import and export consignments assigned Green Channel by RMS.
Director, Directorate of Customs Risk Management Karachi would also do the analysis of the examination requests rejected by the officers of the clearance Collectorates an analysis of import and export data, and assess and prioritize potential risk areas for developing risk profiling.
The said director would be engaged in collecting intelligence and maintaining risk profiles of traders and clearing agents with respect to their business, past history, a record of contraventions, etc.; a collection of research data on international and domestic markets for use in risk profiling; realignment of weights assigned to different clearance activities; and formulating security protocols and Standing Operating Procedures (SOPs) for RNIS to ensure confidentiality and security of all information related to RMS data and record etc.
Source: ProPakistani