KARACHI: In compliance with the United Nations Security Council (UNSC) Resolution 2270 (2016), the Ministry of Commerce has informed the Federal Board of Revenue (FBR) about the imposition of new sanctions against Democratic Peoples’ Republic of Korea (DPRK) through Statutory Regulatory Order (SRO).
The United Nations, the European Union and the United States recently expanded sanctions on North Korea, issuing new restrictions which will impact the mineral, energy, shipping, banking, finance, and aviation industries. United Nations Resolution 2270 also bans the supply of luxury goods to North Korea and implements a mandatory cargo inspection requirement for DPRK-flagged vessels or cargo transiting North Korea.
In this regard, Secretary (Enforcement and Coordination), FBR Rahmatulah Vistro forwarded a letter to Directorate General, Directorate General of Intelligence & Investigation-FBR, Chief Collector Appraisement/Enforcement South, and Chief Collector North informing about the new sanctions.
The letter stated that all concerned are requested to observe a strict compliance with the S.R.O. in the areas of their respective jurisdiction with a view to ensuring that no violation of the UNSC 2270 (2016) takes place.
It shall also apply to all arms and related material, including small arms and light weapons and their related material, as well as to financial transactions, technical training, advice, services or assistance related to the provisions, manufacture, maintenance or use of such arms and related material. It shall apply with respect to the shipment of items to or from the DPRK for repair, servicing, refurbishing, testing, reverse-engineering, and marketing, regardless of whether ownership or control is transferred, and the measures .The federal government determines that such activity is exclusively for humanitarian purposes or exclusively for livelihood purposes which will not be used by DPRK individuals or entities to generate revenue, and also not related to any activity prohibited by UNSC.
The Ministry of Commerce advised that all concerned shall inspect the cargo within or transiting through territory of Pakistan, including airports, seaports and free trade zones that has originated in the DPRK, or that is destined for the DPRK, or has been brokered or facilitated by the DPRK or its nationals, or by individuals or entities acting on their behalf or at their direction, or entities owned or controlled by them, or by designated individuals or entities, or that is being transported on DPRK flagged aircraft or maritime vessels, for the purposes of ensuring that no items are transferred in violation of the UNSC resolutions.
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