Gilgit-Baltistan Traders Gain Tax-Free Import Benefits
The Gilgit-Baltistan (GB) government has introduced a new online registration platform aimed at local traders to facilitate tax-free imports of Chinese goods via the Khunjerab Pass. This initiative is expected to boost regional trade and economic activity by extending federal exemptions to qualified traders.
Launch of GB Traders Registration and Exemption System
On Saturday, GB Chief Minister Amjad Hussain inaugurated the GB Traders Registration and Exemption System (GBTERS) at the Chief Minister Secretariat. The event was attended by GB Finance Minister Mohammad Ali Akhtar, Local Bodies Minister Zulfiqar Ali Murad, and other senior officials. The platform allows traders to apply for import tax exemptions on goods brought from China exclusively for local consumption.
According to the Chief Minister, the online system ensures transparency and fairness while supporting local businesses. Registered companies and partnership firms in GB can benefit directly from the program backed by the federal government.
Federal Tax Exemptions and Trade Development
The tax relief scheme had previously been approved by Prime Minister Shehbaz Sharif, who endorsed exemptions from income tax, sales tax, and federal excise duty on specified goods imported through the Khunjerab Pass. The Federal Board of Revenue (FBR) has finalized a statutory order to implement these measures, which cover 2,403 items with a total tax exemption cap of Rs4 billion annually.
Responsibilities include the GB government managing the distribution of the Rs4 billion quota among local importers. The relief will undergo a review every two years to assess its progress and impact.
Implications for Gilgit-Baltistan’s Economy
The Chief Minister has directed officials to draft proposals for establishing a trade free zone in Gilgit, aiming to offer both domestic and international traders a specialized platform with requisite infrastructure to enhance business operations. The government plans to finance this zone independently.
For Pakistan, empowering GB traders with such incentives represents a strategic effort to leverage geographic advantages and strengthen trade links with China. Increased import activity could stimulate local economies, create jobs, and foster greater integration of the region into national and global markets.
“GB traders would benefit considerably from the exemption granted by the federal government,” said Amjad Hussain, highlighting government commitment to supporting local commerce.
