ISLAMABAD: The Federal Board of Revenue (FBR) has announced a major breakthrough in regulating shipping charges, confirming that international shipping lines operating in Pakistan are now applying rates strictly based on official exchange rates issued by their respective authorised commercial banks, in line with State Bank of Pakistan (SBP) regulations.
According to the FBR, Pakistan Customs has successfully ended the long-standing practice of arbitrary and inflated billing by international shipping companies, ensuring that shipping fees are calculated transparently and in accordance with official bank exchange rates.
The All Pakistan Shipping Association (APSA), through formal communication, has confirmed that all member shipping lines are fully compliant with this directive. The move is a result of sustained efforts by a high-level committee formed by Pakistan Customs, which conducted extensive consultations with shipping agents, terminal operators, trade bodies, and international shipping lines to ensure industry-wide adherence.
A key milestone in this initiative was achieved when Maersk, the largest shipping line operating in Pakistan and responsible for nearly 26 percent of the country’s cargo, began applying official bank exchange rates, setting a benchmark for other operators to follow. Following this, written confirmations of compliance have been received from major international shipping companies and their local agents, including Hapag-Lloyd, Ocean Network Express (ONE), COSCO Shipping, CMA CGM, Mediterranean Shipping Company (MSC), OOCL, and United Marine Agencies, among others.
For years, exporters and traders had expressed serious concerns over shipping lines arbitrarily applying inflated exchange rates, often significantly higher than SBP-notified rates. This practice had raised the cost of doing business, reduced export competitiveness, and created uncertainty in shipping charges.
With the full implementation of official exchange rates, the initiative is expected to significantly reduce cost pressures on traders and exporters, enhance transparency and predictability in shipping charges, and restore confidence within the business community.
The FBR emphasized that this achievement reflects its ongoing commitment to safeguarding legitimate trade, promoting ease of doing business, and supporting Pakistan’s export-led economic growth through effective regulatory oversight and close engagement with all stakeholders.
