Iranian transport operators are now required to provide bank guarantees to Pakistani customs authorities for goods shipped via Iranian transport companies from Taftan border to NLC dry port in Quetta.
The Federal Board of Revenue (FBR) introduced this change through the amendment to the Customs Rules 2001 through SRO.1913(I)/2024.
Under the updated rules, Iranian transport operators must provide a bank guarantee equal to customs duties and taxes applicable to the goods being transported.
The guarantee amount will be determined by the Taftan Customs Valuation Group, in accordance with Clause (7) of Article 7 of the 1987 Agreement on Bilateral Road Transport of Goods between Pakistan and Iran.
The notification said that if Iranian transport companies misuse shipping facilities for imported goods, the bank guarantee provided will be confiscated, in addition to other penalties in accordance with the Customs Law and relevant rules.
The agreement between Pakistan and Iran sets out specific obligations and tariffs for Iranian carriers under Article 2, ensuring mutual compliance in bilateral transfers.