ISLAMABAD: The Federal Board of Revenue (FBR) has dropped a new draft Insurance Guarantee Format for (SRO 957(I)/2021 update) for exporters under the Export Facilitation Scheme. The updated framework offers irrevocable & unconditional guarantee templates for manufacturers-cum-exporters, commercial exporters, indirect exporters, common export houses, vendors, and international toll manufacturers. FBR mandates the guarantee must come from a Ministry of Commerce-registered insurance company with a minimum “AA” rating from PACRA. Exporters can download the draft format from the FBR website right now for review and feedback.
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