- The condition of financial security imposed on goods.
- Financial guarantee for one year can be cashed in Pakistan.
- Bank guarantee will also cover taxes and duties levied on goods.
ISLAMABAD: The Federal Board of Revenue (FBR) has issued a notification to amend the Customs Rules, 2001 under which the rules have become more stringent for those going to Afghanistan via Pakistan.
According to the FBR announcement, the condition of financial security has been imposed on the goods going to Afghanistan and the financial security will be given in the form of an authorized bank guarantee, while the financial guarantee will be for at least one year and can be cashed in Pakistan. The Bank guarantee will also cover taxes and duties levied on vehicles and goods.
The notification said that the new conditions would apply to importers, customs agents, brokers, and transport operators. The purpose of the amended rules is to provide financial security to the Pak-Afghan transit operation.
The FBR notification said that customs clearance of goods to Afghanistan will be done through a computerized system and at least 25 percent of transit goods will be scanned after goods declaration.
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