June 5, 2024
FBR allows transactions between Gwadar Free Zone and tariff area PKR
Customs rules amended to facilitate trade in local currency
June 5, 2024
The Federal Board of Revenue (FBR) has authorized business transactions of goods trading between the Gwadar Free Zone and the tariff area in Pakistani rupees.
The FBR issued SRO.805 (I)/ 2024 to amend the Customs Rules 2001 on Tuesday.
Under the revised rules, transactions between the Gwadar Free Zone and the tariff area are now permitted in Pakistani rupees.
Goods from the tariff area, excluding petty items, can be admitted into the zone upon completion of export formalities typically observed for foreign exports, with the transactions allowed in Pakistani rupees, the revised rules stated.
Goods removed from the zone for importation into the tariff area must follow the import procedure outlined in the Act and the rules made under it, with transactions between the Gwadar Free Zone and the tariff area allowed in Pakistani rupees, it added.
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