KARACHI (February 26 2003) : The Export Promotion Bureau (EPB) has warned the textile associations against repeated violations of the SRO regarding transfer transactions, and said any such default in future would be viewed seriously and the quota servicing of such associations would be stopped.
A circular, issued by the Textile Quota Management (TQM) Directorate of EPB, said that it had come to the notice of Ministry of Commerce and the EPB that in spite of repeated advices, the associations were resorting to practices, which were a clear violation of the SRO regarding transfer transactions and identification of the type of quota in the exporters Categories Pass Books (CPB), resulting in the mismanagement of the quota transactions.
The circular further said that all respective associations were being warned for the last time to adhere to the instructions previously issued vide circular No EPB-1(1)/02-EO (Audit) dated December 26, 2002 on the subject.
The circular further said that any such default would be viewed seriously and quota servicing of such exporters/associations would be stopped.
