ISLAMABAD, March 10: The Central Board of Revenue (CBR) has extended period and waiver of penal surcharges on overstayed goods lying uncleared in the warehouses. The decision was announced through a customs notification issued here on Saturday to facilitate the traders.

According to the notification, the CBR extended up to the March 31, 2007, the period for which warehoused goods may remain in the warehouse; and remitted penal surcharge in the case of goods which are removed from the warehouse within the period from the March 10, 2007 to March 31, 2007.

This measure has been taken to facilitate the trade and industry and commercial importers who have not been able to clear their goods in time on payment of duty and taxes.