The Federal Board of Revenue (FBR) has invited chartered accountancy (CA) firms to conduct a comprehensive third-party audit of Customs bonded warehouses across Pakistan. The audit will cover three financial years, from 2023-24 to 2025-26, with the objective of strengthening transparency, monitoring compliance, and identifying potential irregularities.
The initiative will cover petroleum, oil and lubricants (POL) warehouses, as well as public and private bonded warehouses operating across the country.
According to the FBR procurement notice, interested firms must submit their technical and financial proposals electronically through the Electronic Pakistan Acquisition and Disposal System (EPADS) v2.0.
What Is the FBR Customs Bonded Warehouse Audit?
The FBR Customs Wing plans to appoint eligible chartered accountancy firms to independently examine the operations and records of Customs bonded warehouses.
The audit will cover:
- Petroleum, oil and lubricants (POL) warehouses.
- Public bonded warehouses.
- Private bonded warehouses.
- Customs-related records and transactions.
- Warehouse operations covering FY2023-24 to FY2025-26.
The purpose is to strengthen oversight, verify compliance with customs requirements, and identify potential discrepancies in warehouse records and operations.
FBR Invites Chartered Accountancy Firms
The FBR has invited eligible CA firms registered on EPADS v2.0 to submit proposals for one or more of six designated lots.
The procurement process will follow Least Cost Based Selection (LCBS) under the Single Stage-Two Envelope procedure.
Applicants must meet the mandatory eligibility requirements and secure at least 70 marks out of 100 in the technical evaluation. They must also obtain a minimum of 50% in each of the seven technical evaluation categories.
What Is the Deadline for Submitting Audit Proposals?
According to the procurement notice:
- Submission deadline: November 16, 2026, at 11:00 AM.
- Technical proposal opening: November 16, 2026, at 11:30 AM.
- Submission method: Electronic submission through EPADS v2.0.
- Bid security: Rs500,000 separately for each lot.
Applicants must also submit the original bid security to the designated FBR office by the prescribed deadline. Manual proposal submissions will not be accepted.
Why Is the Third-Party Audit Important?
Customs bonded warehouses play an important role in Pakistan’s import and trade system. Effective monitoring is necessary to ensure that goods stored under bonded arrangements are properly documented and handled in accordance with applicable customs laws.
The nationwide audit is expected to strengthen:
- Transparency: Independent examination of warehouse operations and records.
- Regulatory Compliance: Verification of adherence to applicable customs requirements.
- Financial Accountability: Identification of discrepancies in relevant financial and operational records.
- Risk Management: Better identification of potential irregularities and revenue leakages.
- Customs Oversight: Improved monitoring of public, private, and petroleum-related bonded warehouses.
How Xact Legal Can Help
Businesses involved in imports, warehousing, and international trade must maintain accurate customs documentation and comply with applicable regulatory requirements.
Xact Legal provides legal and tax-related assistance to businesses dealing with regulatory compliance, tax matters, and FBR-related proceedings.
Our services can help businesses understand their customs obligations, review relevant documentation, address compliance concerns, and seek professional guidance on tax and regulatory matters.
Contact Xact Legal for professional assistance with customs compliance, tax advisory, and business-related legal matters in Pakistan.
Frequently Asked Questions (FAQs)
1. Why is the FBR conducting a third-party audit of Customs bonded warehouses?
The FBR aims to strengthen transparency, verify compliance, examine warehouse records, and identify potential irregularities across Customs bonded warehouses.
2. Which warehouses will be covered by the audit?
The audit will cover petroleum, oil and lubricants (POL) warehouses, as well as public and private bonded warehouses across Pakistan.
3. Which financial years will the audit cover?
The third-party audit will cover three financial years: 2023-24, 2024-25, and 2025-26.
4. Who can apply for the FBR warehouse audit assignment?
Eligible chartered accountancy firms registered on EPADS v2.0 can submit proposals, subject to the prescribed eligibility and technical evaluation requirements.
5. What is the deadline for submitting proposals?
The deadline is November 16, 2026, at 11:00 AM Pakistan Standard Time.
6. What is the required bid security?
Applicants must submit original bid security of Rs500,000 separately for each lot.
Conclusion
The FBR’s decision to appoint independent audit firms for Customs bonded warehouses represents an important step towards strengthening customs administration and regulatory oversight in Pakistan.
By reviewing three years of warehouse operations, the initiative aims to improve transparency, identify potential compliance gaps, and support better management of customs-related activities.
Businesses operating bonded warehouses should ensure that their records, documentation, and operations comply with applicable customs requirements.
Disclaimer: This article is for general informational purposes only and does not constitute legal, tax, or procurement advice. Applicants and businesses should consult the official FBR procurement notice and applicable laws for specific requirements.