Foreign suppliers are allowed to do business in Pakistan

It has been decided to allow foreign suppliers to do business in Pakistan.

According to FBR issued notification for further amendments in Customs Rules 2001 after which foreign suppliers will be able to set up their registered business here, foreign suppliers will also get the option to set up a subsidiary company.

Import of crude oil and other petroleum products will be allowed. Petroleum products will be allowed to be sold or exported in the local market. Imported goods will be stored in the customs storage facility.

Foreign suppliers will be able to use warehouses anywhere in Pakistan. Import and export of petroleum products abroad will also be allowed. Foreign suppliers have to pay warehouse rent, port and other service charges.

According to FBR, the dues have to be paid in foreign currency i.e. dollars through banking channels. Foreign supplies or subsidiaries have to follow the instructions of State Bank and Customs.

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