Pakistan's Prime Minister Shehbaz Sharif chaired a federal cabinet meeting where he highlighted several key achievements and initiatives. He termed Pakistan's two-year term as a non-permanent member of the United Nations Security Council (UNSC) starting from January 1, 2025, as a significant diplomatic achievement. The prime minister also praised the Federal Board of Revenue (FBR) for achieving 97 percent of its December tax collection target and noted a significant contribution of Rs72 billion from Alternate Dispute Resolution measures. He highlighted the digitalization of Karachi Port's operations through a $6 million grant from the Bill Gates Foundation, which led to a 39% reduction in container processing time. Additionally, he mentioned that initiatives undertaken by federal institutions and the military had effectively curbed the illicit flow of sugar and petroleum across borders, enabling the country to export surplus sugar. The prime minister also highlighted remittance inflows, stating that Pakistan received $15 billion in the first five months of the fiscal year, which could surpass $35 billion if the trend continues, setting a national record.
https://www.brecorder.com/news/40340673/economy-pm-says-govt-to-achieve-its-goals-within-6-monthsThe Pakistani government has exempted customs duty on imports from seven countries under the D-8 Preferential Trade Agreement. The exemption applies to goods imported from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, and Turkiye, with effect from January 10, 2025. The rates of customs duty will be reduced in accordance with the agreement, with the lower rate applying if it is lower than the existing rates specified in the First Schedule to the Customs Act or notified by the Federal Board of Revenue (FBR) on July 10, 2022.
https://www.brecorder.com/news/40340521/various-items-from-7-countries-fbr-announces-tax-concessions-on-imports