KARACHI, May 29: The Ministry of Commerce has approved the accreditation rules framework for member bodies of Pakistan International Freight Forwarders Association (PIFFA).

Under these rules the international freight forwarders of PIFFA will have to introduce detailed documents and best international practices to Pakistan freight forwarding and logistics environment and also addresses the local requirements, says a press release.

These rules approved by the MoC on May 24, 2008 also requires all qualifying companies to get registered with the Securities & Exchange Commission of Pakistan and to introduce mandatory vocational training. It also has strong arbitration mechanism to facilitate trade from avoiding long litigation in the court of law.

PIFFA is the national association member of the international body of FIATA which works closely with ICC, Unctad and other global organisations which guide and govern the international practices in the conduct of the global trade.

Pakistan now has a seat on the international board of FIATA.