Pakistan, Aug. 1 -- The Federal Board of Revenue (FBR) has temporarily suspended the 0.25% penalty on the declared value of goods. This decision comes after customs agents raised concerns over the lack of an official notification regarding the enforcement. The FBR confirmed that no penalty will be imposed until a formal order is issued under Section 82 of the Customs Act, 1969.

Initially, the FBR planned to introduce this penalty to reduce port congestion and shorten dwell times. Under the proposed rules, importers would face penalties if they failed to file goods declarations within 10 days of arrival at customs stations for purposes such as home consumption, warehousing, or transshipment.

In addition, the proposed amendments required ...