The Ministry of Commerce (MoC) has opened the floor for budget proposals for the fiscal year 2022/2023, specifically focusing on potential changes in customs tariff rates.
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Commerce ministry issues guidelines for joining Amazon
ISLAMABAD: The ministry of commerce has issued guidelines for local businessmen to join Amazon – one of the world’s largest e-Commerce platform – as Pakistani seller.
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Monthly exports in March 2021 highest in decade: Razak Dawood
In a significant economic development, Pakistan’s exports soared to $2.345 billion in March 2021, marking a remarkable 13.4 percent increase compared to February 2021.
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Ministry issues import, export of e-commerce rules
ISLAMABAD: The ministry of commerce has issued rules for assessment and clearance of imported or exported goods through e-commerce.
The ministry issued SRO 14(I)/2021 for the application of the rules that will apply for assessment and clearance of imported or exported goods of business to consumer (B2C) transactions through authorized dealer via designated customs stations.
However, these rules will not apply on the following goods:
(a) Goods requiring testing of samples;
(b) Animals;
(c) Perishable goods;
(d) Food stuff including beverages;
(e) Medicines of any sort;
(f) Alcoholic drinks;
(g) Restricted items subject to fulfillment of import and export regulations under the relevant law;
(h) Prohibited under sections 15 and 16 of the Customs Act, 1969 along with allied law; and
(i) Import and export goods which are intended for clearance from customs stations or airport other than at which arrived.
The ministry defined the e-commerce as buying and selling of goods or services including digital products through electronic transactions conducted via the internet or other computer mediated (online communication) networks.
According to the rules, the registered courier shall file the prior arrival manifest of e-commerce goods. The risk management system shall be applied at the manifest filing stage.
A consumer shall provide the details of shipment and e-commerce importer. E-commerce goods of the consumer shall be cleared upon provision of information prior to the manifest or post arrival of the goods.
The goods declaration shall be filed by the registered courier on behalf of e-commerce importer and exporter on the specified type of goods declaration for the purpose of e-commerce.
The goods shall be cleared upon examination and assessment through WeBOC system upon decision by the RMS.
Duty and taxes shall be paid by the e-commerce importer and exporter through methods, included: self payment by the e-commerce importer and exporter through a unique payment ID; or payment through authorized registered courier.
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Ministry approves DLTL claims worth Rs213 million: Razak Dawood
ISLAMABAD: The ministry of commerce has approved Rs213 million against claims of drawback of local taxes and levies (DLTL) by non-textile sector, Abdul Razak Dawood, Adviser to Prime Minister for Commerce and Investment.
“These are now with State Bank of Pakistan (SBP) and will soon be disbursed to the relevant exporters,” the adviser said this on his official twitter account.
“Our policy is not to put any working capital constraints for our exporters, he said.
“I hope that this will facilitate them” he added.
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Import policy amended to allow radiation apparatus
ISLAMABAD: The ministry of commerce has amended the Import Policy Order 2020 and allowed the import of radiation apparatus with a condition of prior approval of Pakistan Nuclear Regulatory Authority.
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Kharlachi allowed export route for Afghanistan
ISLAMABAD: Kharlachi border has been added to the list of borders for exports of goods from Pakistan to Afghanistan.
The ministry of commerce on Monday issued SRO 1103(I)/2020 to make amendment into Export Policy Order 2020.
After the amendment the export to Afghanistan and through Afghanistan to Central Asian Republics shall be allowed through export land routes i.e. Torkhan, Chaman and Ghulam Khan and Qamar Uddin Karez, Kharlachi.
According to news reports, the Kharlachi border crossing in Kurram tribal district was reopened in July 2020 to trade with Afghanistan after remaining closed for four months.
The border crossing was closed for bilateral trade after the outbreak of Covid-19.
The formal trade was begun with Afghanistan through Kharlachi crossing, which was the nearest point with Kabul.
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Ministry releases Export Policy Order 2020
ISLAMABAD: The ministry of commerce on Friday issued Export Policy Order 2020 while making several changes to the old policy.
The ministry issued SRO 901(I)/2020 to release the export policy order.
The export policy order shall come into force at once, the ministry said.
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Import Policy Order 2020 issued
ISLAMABAD: The ministry of commerce on Friday issued Import Policy Order, 2020.
The import policy order shall come into force at once.
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Exports decline by 19.5 percent as rains, urban flooding disrupt supply chain
ISLAMABAD: The exports have registered 19.5 percent decline in August 2020 owing to torrential rains and significant urban flooding in Karachi.
The exports for the month of August 2020, have recorded a downfall of 19.5 percent, in dollar value terms, as compared to the same period last year.
This was discussed in an internal review meeting at Ministry of Commerce on Thursday, chaired by the Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood.
During the same month, the imports have also dropped by 20 percent, in dollar value terms, as compared to August 2019.
However, the overall trade balance has improved by 20.6 percent in August 2020, as compared to same month last year.
Despite the decline in August, some of the products, like tractors, iron and steel, chemicals and cement have posted a growth of 186 percent, 100 percent, 90 percent and 30 percent respectively, in dollar value terms, as compared to August 2019.
It was told in the meeting that due to heavy rains in the country, there were some delays in obtaining and analyzing the data.
It was further discussed in the meeting that the rains and consequential urban flooding, particularly in Karachi, caused significant problems in the existing infrastructure, disrupting the supply chains and affecting the exports for the month of August.
Power outages, slowdown in business activities, delays in transportation and hampering of port operations are some of the issues faced by the exporters due to unprecedented monsoon rains in the country.
Talking in the meeting, the Advisor hoped that the exports would begin to recover in September as normalcy should return to Karachi.
The advisor noted that although exports have temporarily fallen, the trade balance continues to improve.
“Exporters are encouraged that despite the calamity of rain and flooding, we must pursue ‘Make in Pakistan’ and export led growth,” the advisor said.
“I have every confidence in our exporters that they will make up for the loss in the subsequent months”, he added.
Dawood directed that the Ministry of Commerce must resolve the issues of the exporters on war-footings in these unprecedented times.