FBR notifies licensing rules for freight forwarders

The Federal Board of Revenue (FBR) notified rules for obtaining a license for freight forwarders, reported 24NewsHD TV channel on Monday. 

The FBR also declared a license mandatory for freight forwarders. 

The license will be issued after a security deposit of Rs2,00,000 and Rs 5,000 as a fee, which is non-refundable.

Only three persons on every customs stations will be eligible to get the license. 

The license will be issued for a period of two to five years, which can be renewed. At the time of renewal, the applicant will have to provide details of all business activities.

Any violation of rules, bankruptcy, or involvement in criminal activities will lead to cancellation of the license. 

The license holder must be an intermediate qualified person.

The freight forward license fee is Rs1000, and its renewal fee is Rs500, the FBR concluded as saying.

Reporter: Basim Iftikhar