FBR waives I-form condition for September


FBR waives I-form condition for September ISLAMABAD: The Fed­eral Board of Revenue (FBR) has waived the condition of import form (I-form) for the current month on all kinds of imports from Iran and Afghanistan via land route.

The decision was reached in a meeting between a delegation of businessmen, led by former vice-president of the Federation of Pakistan Chambers of Commerce and Industry Zubair Tufail, and FBR Chairman Nisar Khan, an official source told Dawn on Wednesday.

All imports from Iran and Afghanistan through the collectorates of Quetta and Peshawar are now exempt from the condition of I-form until Sept 30.

Mr Tufail said the issue would be further discussed with top officials of the State Bank of Pakistan (SBP) on Thursday (today).

The SBP made it mandatory from Sept 1 that no goods declaration would be allowed for import unless an I-form, duly approved by commercial banks, is attached with it.

The decision led to a halt in trade via Chaman, Torkham and Taftan borders. A large number of containers also piled up at the border stations for want of I-form.

BHC grants stay order

Our staff corespondent from Quetta adds: A division bench of the Balochistan High Court, comprising Chief Justice Muhammad Noor Meskanzai and Justice Muhammad Ejaz Swati, on Wednesday issued a stay order on a constitutional petition filed against declaring I-form mandatory.

The petition was filed by Jamal Khan Tarakai, the president of Quetta Chamber of Commerce and Industry.

The court directed that till the evolving of banking mechanism with Iran and Afghanistan, the importers and exporters should be allowed transition of money according to the old system.

Source: http://www.dawn.com/news/1282722/fbr-waives-i-form-condition-for-september

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