ISLAMABAD (Lord Media): Federal Board of Revenue (FBR) Member Customs, Syed Shakeel Shah, announced extensive reforms in the customs system to enhance the maritime economy, following recommendations from the Prime Minister’s task force. These reforms have facilitated international trade and increased revenue.<\/p>\n
Syed Shakeel Shah stated that the Prime Minister’s task force on maritime affairs identified issues related to ports and customs, leading to measures that reduced the import clearance time from 52.9 hours to 18.3 hours. The government aims to further reduce this time to 12 hours.<\/p>\n
He mentioned the introduction of a faceless customs system at ports, resulting in a 16% revenue increase. Bunkering regulations have been implemented to increase the arrival of large commercial ships, enabling fuel supply to large vessels at Karachi and Gwadar ports.<\/p>\n
The Member Customs added that the country’s ports have a container storage capacity of 50,000. Customs duties and sales tax on vessels and shipbuilding have been abolished to promote the maritime industry.<\/p>\n
He revealed that under FBR’s digital reforms, 35 digital enforcement stations are being established along the Indus River to monitor smuggled and tax-evading cargo.<\/p>\n
He also mentioned that exams for the registration of freight forwarders and customs clearing agents will be conducted at IBA Karachi. An import declaration facility has been introduced to facilitate traders.<\/p>\n","protected":false},"excerpt":{"rendered":"
FBR’s customs reforms boost maritime trade, cut import clearance time, and increase revenue. New digital stations to monitor smuggling along Indus River.<\/p>\n","protected":false},"author":1,"featured_media":77843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2782,619,2783,2784],"ppma_author":[94],"class_list":["post-77842","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uncategorized","tag-customs","tag-fbr","tag-maritime-economy","tag-trade-reforms"],"yoast_head":"\n