National Board of Revenue will review the existing business process of bonded warehouse management system to make it conducive to an automated environment.
The task will be completed under the Bond Management Automation Project taken to ensure transparency and prevent leakage of the duty-free benefit through automating the bonded warehouse system.
Officials said that the project had already appointed an international consulting firm to review and redesign the bonded warehouse administration.
Australia-based T-TEK Ltd with local Synesis IT Ltd will conduct the activities and recommend an online-compatible bonded warehouse system under which export-oriented industries enjoy duty-free import of raw materials and capital machinery, they said.
