Pakistan is commonly known as an agricultural country as many of us know. Like all other countries in the world, Pakistan is also paving its way to modernization. IT and Telecom companies from around the world are seeking new business markets in Pakistan. That is why there is a certain increase in demand for the Importer of record service in Pakistan.
Before giving a full-on analysis on the importer of record service in Pakistan let’s have a quick round on the countrys introduction. Being the worlds growing economy Pakistan is booming in many sectors. That includes textile, leather, agriculture, and sports. Pakistan is not an ICT manufacturer which is why the country is dependent on foreign ICT and Telecom companies to support the IT infrastructure.
The IT and Telecom sector has been growing fast in Pakistan, according to the world economic forum, the IT and Telecom sector has shown 48% growth. Resulting in a rapid increase in demand for the importer of record services. Still being an underdeveloped country Pakistan is yet to streamline its import regulations according to international standards.
Pakistan is considered one of the most complicated countries for IOR service. After FATF regulation the country has undergone a massive downfall in imports. Making it nearly impossible to import free-of-cost equipment. Government authorities have imposed strict regulations on importing IT and Telecom equipment without commercial transactions.
Requirements for Importer Of Record In Pakistan
A legal entity registered in Pakistan can undertake all kinds of import processes under the following conditions:
• The entity or the company should be an active taxpayer and should have a national tax certificate.
• The importer of record should a member of the Pakistan Chamber of commerce and industries.
• Must have authorized access to PSW (Pakistan Single Window)/weBOC.
• Must have approval from State Bank of Pakistan on zero value EIF.
Import Regulation on ICT and Telecom Equipment In Pakistan
Pakistan Telecommunication Authority is the governing body that controls all the import approvals for ICT and Telecom equipment. The importer must take approval from PTA before commencing the import process. PTA has categorized all IT and Telecom goods into two main categories. One does not require any approval from PTA while the other requires approval. All the 4G/5G enabled equipment with Wifi and Sim card functions typically falls under the PTA type approval category. Further to this, a No Objection Certificate (NOC) is also required before commencing the import process.
Some equipment is restricted and can be imported only on special approval from PTA. All such approvals are subject to inspection from PTA. Usually, equipment with dual encryption functionality falls under this category.
Import Duties and Taxes In Pakistan
Duties and taxes are relatively on the higher side in Pakistan. It ranges from 40% to 65% depending on the HS code your equipment falls under. Pakistan customs is a highly regulated authority and very strict and compliant with the rules and regulations imposed by the government.
Import process in Pakistan
The import process is the same as it is in many other countries. Under normal circumstances, goods are released within 2-3 working days. In case there is an approval pending from PTA it takes an additional 10-15 days to get it.
How AGOL Worldwide can help you as an Importer of record in Pakistan
At AGOL Worldwide Inc we strive to bring the best IOR solution for you to keep the import process smooth and hassle-free. We plan everything and acquire all the necessary approvals in advance so that your goods are released within 2 days of arrival. We have a team of experts who can inform you upfront about any requirements from the government authorities. We file all the duties and taxes upfront so that every shipment is cleared without any delays.
Have an IOR Shipment ready for Pakistan? Contact our IOR Logistics Expert now.
