FBR issues draft of International Transhipment Rules

The Federal Board of Revenue (FBR) Thursday issued draft of International Transshipment Rules to create an investment and trade friendly atmosphere in the country.

According to the FBR, under the agenda of development of Gwadar Port, direction was given to draft transit and transshipment rules. In line with the Federal Government policy to create an investment and trade friendly atmosphere in the country, a dedicated team was constituted to draft international transshipment rules.

The team keeping in view the emergent CPEC trade and to facilitate transit in general drafted the rules in the shortest possible time.

After vetting by the Law Division, these Rules are being published for a review by the public and if any feedback is received, the same will be incorporated. It may be added that the Gwadar Port have already included in the Transit Rules framed under APTTA 2010.

The Prime Minister of Pakistan has put special emphasis on the development of Balochistan Province. A dedicated body in the name National Development Council was created for up lift of province of Balochistan. In the first meeting of the National Development Council, infrastructure development of Gwadar Port was given special preference. This meeting was attended by representatives of all ministries and divisions. The agenda of the meeting included improvement of security in the Border Regions, Budgetary support, Recruiting locals in public sector jobs, improving road infrastructure, development of coastal areas, establishment of special economic zones at hub, development of Gwadar Port, development of mining sector and exploration of oil and gas.

Recently, some Afghan Businessmen have shown their intention of utilizing Gwadar Port for the transportation of Afghan Transit Cargo. Both the international transshipment and Transit will generate economic activities in the area will play a major in the development of Balochistan Province, FBR added.