August 4, 2021

Pakistan And China To Sign MoU To Reduce Misdeclarations At Ports

On Monday in a press briefing, Chairman FBR  Mr. Shabbar Zaidi said that Pakistan and China are signing a Memorandum of Understanding (MoU) to control misdeclarations of exports and imports occurring at the ports.

He added that he has sent a letter to Pakistan’s ambassador to China Naghmana Hashmi and has authorized her to sign the MoU with the Chinese authorities.

The draft for the MoU was prepared by China’s State Administration of Taxes and will enable authorities on both sides to learn from each other’s experiences.

According to the deal, Chinese ports will now supply the data of exports being made to Pakistan at spot and Pakistan will be able to reconcile that data with the import declarations made in ports of Pakistan. This agreement will enable authorities to analyze the figures provided to Chinese and Pakistani authorities at the time of imports or exports and will ensure that the figures provided match each other.

Pakistan has been suffering from massive losses due to misdeclarations of assets imported or exported from the ports. Shabbar Zaidi added that these ambiguities couldn’t arise without the involvement of the customs officers. He further added that automation of this process would enable authorities to deal with this problem more effectively.

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