PESHAWAR: Director Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), Ziaul Haq Sarhadi has hailed issuance of notification by Federal Board of Revenue (FBR) for introducing new Tracking and Monitoring of Cargo Rule 2023.

In a press statement issued here on Saturday, Zia Sarhadi said the decision was a long lasting demand of the business community of the country aimed at ending the monopoly of one company providing tracking service to vehicles carrying cargo goods.

It merits a mention here that FBR has issued SRO 996(I)/2023 to notify new Tracking and Monitoring of Cargo Rules, 2023 on August 2.The FBR has allowed companies having a minimum annual turnover of Rs175 million or financial worth of Rs100 million to obtain license for tracking and monitoring of vehicles and containers carrying transit/imported cargo.

Under the new rules, the annual turnover has been reduced from Rs350 million to Rs175 million and financial health from Rs200 million to Rs100 million for the companies intended to apply for the licenses for tracking and monitoring of vehicles and containers carrying transit cargo.

“Relaxation in annual turnover and financial health for intending companies will provide opportunity to more firms to come in the arena and provide quality service,” Zia opined. Presently, he said, the lone company is charging containers exorbitantly due to lack of any other option for businessmen for switching over to another tracking company.

Director PAJCCI expressed the hope that FBR will undertake the bidding process on its scheduled time in September 2023 and fulfill other official requirements expediently for engaging new companies in the tracking process.

He thanked Chairman FBR for taking this decision which after implementation will provide relaxation to the business community and introduce provision of state of the art and competitive tracking and monitoring service to importers and exporters.

Copyright Business Recorder, 2023