ISLAMABAD: In a move to facilitate bilateral trade, the Federal Board of Revenue (FBR) has notified new rules under the Pakistan-Uzbekistan Transit Trade Agreement 2001.
The draft rules were notified through a customs notification SRO424 by making further amendments to the custom rules which will be finalised in the next 15 days after receiving feedback from the stakeholders.
Under the proposed rules, in case the Uzbek trader did not have a user ID of Customs Computerised System, the licenced transport operator (bonded carrier) will file goods declaration on his behalf. In that case, the transportation of transit cargo will also be done by the same transport operator (bonded carrier).
The one-time insurance guarantee or revolving insurance guarantee will also be submitted online by the insurance companies registered in Pakistan Single Window against the WeBOC user ID of the respective person or entity.
In case of non-availability of revolving insurance guarantee single transaction insurance guarantee will be furnished for leviable duty and taxes on transit goods.
In case, the transit cargo is loaded in a container other than that of a shipping line, the cargo will be allowed cross-stuffing from the shipping line container.
Published in Dawn, March 17th, 2022
