Zia ul Haq Sarhadi, director of the Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), has praised the Federal Board of Revenue (FBR) for announcing the new Tracking and Monitoring of Cargo Rule 2023.
Sarhadi said in a Friday statement that the decision resulted from a long-standing demand from the country’s business community to eliminate the monopoly of one company providing tracking services to trucks carrying cargo goods.
He thanked the FBR’s chairman for taking this decision which will provide relaxation to the business community and introduce the provision of state-of-the-art and competitive tracking and monitoring service to importers and exporters.
On Wednesday, the FBR released SRO996 (I)/2023 to announce the new Tracking and Monitoring of Cargo Rules, 2023.
Meanwhile, the yearly turnover requirement for companies intended to apply for licenses to track and monitor trucks and containers transporting transit cargo has been decreased from Rs 350 million to Rs 175 million, while the requirement for financial stability has been
The yearly turnover requirement for businesses wishing to apply for licences to track and monitor trucks and containers transporting transit cargo has been decreased from Rs350 million to Rs175 million. In contrast, the requirement for financial stability has been reduced from Rs200 million to Rs100 million, per the new guidelines.
Sarhadi said, “Relaxation in annual turnover and financial health for intending companies will provide an opportunity for more firms to come in the arena and provide quality service.”
Director PAJCCI expressed the hope that FBR would begin the bid process in September 2023 and quickly complete other official procedures for involving new businesses in the tracking process.