FBR Releases New Security Deposit Rules for Freight Forwarder License
The Federal Board of Revenue (FBR) recently released new rules for freight forwarder license in Pakistan. According to the new rules, freight forwarders will be required to deposit security amounting to Rs200,000 if they are operating from a single customs station, or Rs500,000 if they intend to operate from more than one station.
These amendments have been made under SRO 1222(I)/2025, which amends the Customs Rules, 2001. The intention is to ease the procedure for new freight forwarder companies to obtain a license.
New Application Procedure
Application for a license may be made by freight forwarders by filing their application on Form-A, if required, accompanied by documents and a non-returnable processing fee of Rs5,000. The fee should be paid to the Collector of Customs.
When receiving the application, the licensing authority will examine it and issue the license if every requirement is met by the applicant. This includes depositing a security through Defence Saving Certificates (DSCs) collateralized to the Collector of Customs. The applicants also need to sign a bond undertaking to conform to customs regulations and rules.
Why These Changes Matter
These new rules are part of FBR’s plans to improve Pakistan’s freight logistics sector. Enforcing normal licensing practices and requiring freight forwarders to comply with customs, FBR aims to expedite and secure cargo handling.
