Transshipment rules drafted

KARACHI: The Federal Board of Revenue (FBR) has drafted International Transshipment Rules under the Gwadar Port development agenda, keeping in view the emergent China-Pakistan Economic Corridor (CPEC) trade and to facilitate transit in general.

A dedicated team was constituted to draft these rules in the shortest possible time to create an investment and trade friendly atmosphere in the country, a statement said. “After vetting by the Law Division, these Rules are being published for a review by the public and if any feedback is received, the same will be incorporated,” the statement added.

It may be added that the Gwadar Port was already included in the Transit Rules framed under Afghanistan-Pakistan Transit Trade Agreement (APTTA) 2010.

Recently, some Afghan Businessmen have shown intention to utilise Gwadar Port for the transportation of Afghan Transit Cargo. Both the international transshipment and transit would generate economic activities in region, which would play a major in the development of Balochistan.