The Federal Board of Revenue has made amendments to the Customs Act 2001, making stringent the rules between Pakistan and Afghanistan transit trade. The notification issued by FBR stated that the financial security condition has been imposed on goods for the Pak-Afghan transit trade, these new conditions will be applicable to importers, customs agents, brokers, and transport operators. According to the new conditions, the financial security for the transit operation will be provided through authorized bank guarantees. These guarantees will be valid for at least one year and can easily be cashable within Pakistani borders. Notably, the bank guarantee will cover the taxes and duties applicable on vehicles and goods involved in the transit. The FBR officials stated that the aim of these new conditions is to provide financial security to the Paksitan-Afghanistan transit operation.
