The CBR has asked the Ministry of Commerce to give relaxation for import to vehicles of five years old or above under the transfer of residence (TR) scheme in cases where shipments were made on or before June 5, 2006.
In this connection, the board on Monday issued an 'official memorandum' to the Ministry of Commerce regarding applicability of SRO 696(I)/2006 on the import of old cars under the TR scheme.
According to CBR instructions, the concerned ministry should accommodate the delayed arrival of the ships carrying vehicles shipped before June 5, 2006. The ministry should check the relevant documents including 'carrier bill of lading' and export general manifest (EGM) to ensure clearance in genuine cases only.
Explaining the decision, the CBR said that the board has given relaxation on the recommendation of the Commerce Ministry. In this regard, a proposal for five years capping restriction was submitted to the 'special cabinet meeting' held on June 6, 2006.
The proposal said that, "the scheme (SRO 696(I)/2006) has been made effective from July 1, 2006. This will allow the import and clearance of vehicles by June 30, which are in the pipeline. Any sudden change will create difficulties, which are proposed to be avoided."
The above proposal was approved by the cabinet which has been implemented by the Ministry of Commerce vide SRO 696(I)/2006. The July 1 date was suggested consciously to allow the import and clearance of those vehicles, which were in the pipeline. The budget was announced on June 5, 2006.
Thus, June 5-30 (25 days) considered reasonable time for this purpose. Accordingly, the change in policy was announced at the Parliament on June 5, 2006, the CBR added.
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