AIRLINK 142.41 Decreased By ▼ -2.09 (-1.45%)
BOP 10.13 Decreased By ▼ -0.03 (-0.3%)
CNERGY 7.11 Decreased By ▼ -0.07 (-0.97%)
CPHL 81.55 Increased By ▲ 0.15 (0.18%)
FCCL 44.71 Decreased By ▼ -0.04 (-0.09%)
FFL 15.10 No Change ▼ 0.00 (0%)
FLYNG 53.33 Increased By ▲ 0.42 (0.79%)
HUBC 136.05 Increased By ▲ 1.70 (1.27%)
HUMNL 11.12 Increased By ▲ 0.09 (0.82%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 5.54 Decreased By ▼ -0.06 (-1.07%)
MLCF 81.35 Increased By ▲ 1.85 (2.33%)
OGDC 212.25 Increased By ▲ 1.45 (0.69%)
PACE 5.53 Decreased By ▼ -0.17 (-2.98%)
PAEL 38.87 Decreased By ▼ -0.73 (-1.84%)
PIAHCLA 22.06 Increased By ▲ 0.36 (1.66%)
PIBTL 8.03 Decreased By ▼ -0.12 (-1.47%)
POWER 13.57 Increased By ▲ 0.07 (0.52%)
PPL 163.63 Increased By ▲ 1.63 (1.01%)
PRL 32.21 Increased By ▲ 0.01 (0.03%)
PTC 23.43 Decreased By ▼ -0.02 (-0.09%)
SEARL 84.58 Increased By ▲ 0.08 (0.09%)
SSGC 43.00 Decreased By ▼ -0.06 (-0.14%)
SYM 14.20 Decreased By ▼ -0.25 (-1.73%)
TELE 7.35 Decreased By ▼ -0.14 (-1.87%)
TPLP 9.27 Decreased By ▼ -0.12 (-1.28%)
TRG 56.68 Decreased By ▼ -4.92 (-7.99%)
WAVESAPP 9.06 Increased By ▲ 0.06 (0.67%)
WTL 1.45 Decreased By ▼ -0.04 (-2.68%)
YOUW 4.74 Increased By ▲ 0.29 (6.52%)
BR100 12,933 Increased By 10 (0.08%)
BR30 37,084 Increased By 110.3 (0.3%)
KSE100 120,023 Increased By 20.7 (0.02%)
KSE30 36,533 Increased By 91.5 (0.25%)

ISLAMABAD: The Federal Board of Revenue (FBR) has allowed Uzbekistan’s registered vehicles for the transport of transit and bilateral trade cargo to enter into Pakistan without submission of any financial security.

The FBR on Tuesday issued procedure to enforce Uzbekistan-Pakistan Transit Trade Agreement for processing of transit trade cargo between Karachi Port, Port Muhammad Bin Qasim, Gwadar Port, and Uzbekistan.

Through issuance of SRO1466(I)/2021, here on Tuesday, the FBR has issued Uzbekistan-Pakistan Transit Trade Rules, 2021.

Earlier, the draft rules were notified through an SRO1256(I)2021.

The new procedure is applicable on the Uzbekistan-Pakistan Transit Trade Agreement, for processing of transit trade cargo under Customs computerised system, to and from Uzbekistan, Uzbekistan’s cargo imported through Karachi Port, Port Muhammad Bin Qasim, Gwadar Port, and Uzbekistan’s cargo to other countries via Karachi Port, Port Muhammad Bin Qasim, and Gwadar Port.

According to the procedure, Uzbekistan’s registered vehicles holding valid permits and are being utilised for the transport of transit and bilateral trade cargo shall enter Pakistan without the requirement of submission of any financial security for the duty and taxes leviable on the vehicle, on the basis of reciprocity, as agreed by the two contracting parties, the FBR said.

The FBR has issued a separate procedure for movement of transit cargo from only those international airports of Pakistan where there is a direct flight to an international airport in Uzbekistan.

Under the procedure, Directorate of Transit Trade, Peshawar and Quetta shall be authorised to issue and regulate permits at their respective land border Customs stations.

The board may through a general order levy charges, generally applicable for all traffic, including fees for weigh-ment, scanning and sealing by Customs officials or those commensurate with the administrative expenses for the costs of services rendered. The vehicles shall be prohibited from carrying goods loaded in the territory of Pakistan for delivery at any other point (cabotage) and goods from or to another country (third country) than the operators home country and to be delivered or picked up to or from the territory of Uzbekistan.

The Logistics Facilitation Centre shall record particulars of both driver and vehicle in the CCS and these details should be linked with the FIA’s immigration module, so that driver can only exit Pakistan, if his vehicle, on return journey, has entered the border Customs station and gate-in event has been recorded in the CCS and vehicle has completed all Customs formalities for exiting Pakistan.

Both Customs and the FIA officials posted at the Customs border stations shall carry out weekly reconciliation to ensure the implementation of the above mechanism and to ascertain any overstayed vehicles.

A tracker shall be installed on each vehicle upon entry into the territory of Pakistan as per its national legislations.

The FBR said that the vehicles intended to be used for the international carriage of goods by road under Article 9 of Protocol One laid down in Annex-2 of the Agreement between Uzbekistan and Pakistan on Transit Trade (AUPTT) shall be constructed, so as to meet the requirements for carriage under Customs transit, as laid down in Section VII “Customs Control and Other Controls” of the agreement.

All Customs clearing agents/brokers, bonded carriers engaged in the clearance and transportation of transit cargo, are required to receive the amount for various expanses in respect of service charges, freight etc, in Pakistan from foreign trader/entity in their Pak rupee bank accounts in foreign currency.

The concerned Customs clearing agents/brokers, bonded carriers will provide the requisite details regarding the funds received from abroad in their tax statements, to be submitted to the FBR, the FBR stated.

Copyright Business Recorder, 2021

Comments

Comments are closed.