ISLAMABAD, Sept 1: Federal Board of Revenue (FBR) has waived penal surcharge on goods not cleared for more than six months from warehouses.

The decision was taken through a Customs notification SRO 879 issued on Saturday.

The facility will be available between September 1, to 30, 2007. The decision will provide relief to the business community by extending the warehousing period and waiving off the penal surcharge on overstayed goods lying uncleared in the warehouses.

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. It is expected that the importers will take advantage of this opportunity.