• Annual relief capped at Rs4bn on 2,403 items; waivers limited exclusively to local traders, firm
• Strict penalties mandated if exempted goods are moved elsewhere

GILGIT: Prime Minister Shehbaz Sharif on Wednesday approved recommendations from a high-level committee to exempt income tax, sales tax, and federal excise duty on goods imported from China through the Khunjerab Pass by residents of Gilgit-Baltistan (GB).

Following the directive, the Federal Board of Revenue (FBR) issued a Statutory Regulatory Order (SRO) to implement the measures immediately.

The decision follows an agreement reached after week-long negotiations in Islamabad between traders’ representatives and a committee headed by Federal Minister for Energy Awais Leghari.

Traders in Gilgit-Baltistan had staged a sit-in during August and September,........

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