FBR allows TPL Trakker for tracking transshipment consignments

FBR allows TPL Trakker for tracking transshipment consignments

KARACHI: The Federal Board of Revenue (FBR) has given the green light for the tracking of transshipment consignments to TPL Trakker, a move that is expected to have a positive impact on the company’s revenue streams.

As revealed in a statement shared with the Pakistan Stock Exchange (PSX) on Wednesday, TPL Trakker Limited disclosed that the FBR, through its letter dated March 20, 2023, and SRO 413(I)/2012 dated April 25, 2012, has directed the company to initiate the installation of tracking devices on containers/trucks transporting transshipment cargo.

This directive further mandates the company to commence operations at all customs stations nationwide where transshipment consignments originate or are designated to reach. The expansion of TPL Trakker’s responsibilities to include the tracking of transshipment cargo represents an extension of its license scope, potentially boosting the company’s revenue from the STE (Security, Tracking, and Escort) Project.

The Security, Tracking, and Escort Project aim to enhance the security and monitoring of cargo transportation, ensuring the integrity and safety of goods in transit. By incorporating transshipment consignments into the operational domain, TPL Trakker is poised to play a more comprehensive role in securing the supply chain.

Transshipment refers to the movement of goods through an intermediate location during their journey from the point of origin to the final destination. This process is common in international trade and logistics, where cargo is transferred between different modes of transportation or temporarily stored at a hub before reaching its ultimate endpoint.

The FBR’s decision aligns with the broader efforts to fortify security measures in the transport and logistics sector, particularly in the context of transshipment activities. By incorporating technology-driven tracking solutions, authorities aim to deter illicit activities, enhance transparency, and expedite the movement of goods through streamlined monitoring processes.

TPL Trakker, as a prominent player in the technology and logistics sector, is well-positioned to leverage its expertise in providing comprehensive tracking solutions. The company’s compliance with the FBR’s directive is expected to contribute to the overall efficiency of the transshipment process, fostering a more secure and accountable supply chain environment.

This move signifies a collaborative effort between the private sector and government agencies to modernize and enhance the effectiveness of cargo tracking systems, ultimately benefiting the trade and logistics landscape in Pakistan.