29 Mar 2022

Botswana Unified Revenue Services (BURS) has put in place pre-lodgment of goods to facilitate seamless movement at ports of entry.

Under the model, which is a step towards seamless movement of goods at ports of entry, customers can start and complete all exports and import paperwork before goods reach points of entry or departure.

BURS General Manager- Communications, Ms Mabel Bolele explained in an interview that the practice was in line with best international practice on control of goods through ports of entry to facilitate free trade.

She said their system provided for the use of pre-arrival lodgment of documents for importation and exportation of goods.

“When the pre-lodgment of declaration is done as per expectation, the concept ensures a faster movement of goods through ports of entry hence reducing or eliminating unnecessary delays,” she stated.

Apart from providing for pre lodgments, she said the custom legislation also provided for the use of risk management measures to target high risk consignment and allow for low risk consignment to move seamless through the country’s ports of entry.

“In line with this, BURS has gone a step further to streamline its border processes by moving the processing of the declaration to a central point,” she said.

Ms Bolele said this has ensured effective use of human resources and integrity in handling of declarations.

As such, she pointed that the concept had reduced roles to enforcement activities that included scanning and physical inspection of goods including validation of goods for release.

Asked if BURS was satisfied with its effectiveness in serving customers at ports of entry, Ms Bolele said BURS had put in place a customer service charter wherein commit to serving customers to their level best.

Further to that, she said BURS had other initiatives such as online payment methods and use of mobile applications, which allowed informal traders to submit their declarations before arrival at ports.

Ms Bolele also said there was in place non-intrusive inspection technologies and continuous public education programme at all points to make passing through borders as seamless as possible for both traders and individual travelers. BOPA China strengthen private firms bond-financing support BEIJING, March 29 (Xinhua) -- China’s top securities regulator has announced plans to roll out a series of measures to further expand the bond-financing channels for private enterprises.

The country will support private enterprises in high-tech and strategic emerging industries in issuing bonds to raise funds, the China Securities Regulatory Commission said.

Efforts would be made to further optimize the financing service mechanism and improve the efficiency of financing, the regulator said.

The commission also encouraged market and policy institutions to provide credit-enhancement support for the bond financing of private enterprises.

Measures will be taken to facilitate the repurchase financing mechanism, encourage financial institutions to expand business engagement with private firms, and improve the quality of information disclosure, the CSRC said.

China’s private firms have shown significant momentum over the past decade amid a nurturing policy environment, increasing from 10.86 million entities in 2012 to 44.58 million in 2021, accounting for 92.1 percent of enterprises nationwide. ENDS