In order to implement the modification process for customs clearance in imported automobiles, the Ministry of Commerce issued a notice.
Dated 30 December 2019, the ministry issued a 2016 Import Policy Order amending SRO 1625(I)/2019.
As per amendment: “Provided that in case the Pak Rupee depreciates or government increases the import duties or taxes after receipt of remittance and before filing of the goods declaration, which results in shortfall of remitted amount against payable duties and taxes, the importer shall be allowed to meet the shortfall through local sources.
The Commercial Ministry made it mandatory for the customs clearance of import vehicles to be paid out of foreign exchange via the SRO 52(I)/2019 date of 15 January 2019.
In addition, proof of payment was also made mandatory via banking channels.
According to the SRO 52:
“All vehicles in new/used condition to be imported under transfer of residence, personal baggage or under gift scheme, the duty and taxes shall be paid out of foreign exchange arranged by Pakistan Nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittances to local currency, as under:
- The remittance for payment of duties and taxes shall originate from the account of Pakistani national sending the vehicle from abroad; and
- The remittance shall either be received in the account of Pakistani national sending the vehicle from abroad or, in case, his account is non-existent or inoperative, in the account of his family.”