The “Imports and Exports (Control) Amendment Bill, 2022,” which would give the Ministry authority to handle hardship cases on its own, was passed on Tuesday by the National Assembly’s Standing Committee on Commerce, which is chaired by Khursheed Ahmed Junejo.
The main piece of legislation that establishes the rules for conducting international trade in Pakistan is the Import and Export (Control) Act of 1950.
Import Policy Orders (IPOs) and Export Orders (EPOs), issued pursuant to Section 3(l) of the Act, respectively, regulate the import and export of the products.
Imports and Exports Act
IPO and EPO are periodically formed and revised with the agreement of the Cabinet, keeping in mind the ex-agencies of commerce and industry. The Act gives the federal government the following powers:
- Make issue new IPO and EPO
- Make amendments in IPO and EPO
- Grant permission, on a one-time basis, for imports and exports of the goods by relaxing the prohibition/ restrictions contained in the said orders.
The federal government is also granted the authority to waive restrictions and prohibitions on imports and/or exports under the IPO/EPO in urgent situations or when doing so serves the greater good, according to the Commerce Ministry.
As a result, the Cabinet must be consulted in all cases of relaxation that occur just once.
The Commerce Ministry suggested that the Federal Minister for Commerce be given the aforementioned authority to issue a one-time relaxation in order to increase administrative effectiveness and protect Pakistan’s trade and commerce interests.
As a result, the Federal Minister/Minister-in-Charge is accountable to both the Cabinet and the Parliament for his or her activities.
The Commerce Ministry insisted that the changes would make it possible to meet hardship requests for the temporary relaxation of import/export-related limitations and restrictions that have been made by the business community and other sources.
Additionally, the change will be in accordance with the Cabinet’s directive, which instructs all federal government agencies to replace the term “Federal Government” with the proper authority in their respective laws, rules, etc.
To read our blog on “Despite the downturn, Govt. continues to import luxury vehicles,” click here.
