Sultan Shoaib
Gilgit, Feb 12 (APP):The Government of Gilgit-Baltistan has formally launched an online portal for the issuance of Tax Exemption Certificates (TECs) for imports made through the Khunjerab Border, offering up to Rs4 billion in federal tax relief to eligible local traders and importers.
The initiative has been implemented in compliance with the directives of the Prime Minister of Pakistan and aims to facilitate local residents engaged in cross-border trade between Pakistan and China. With the portal now operational, the registration process for eligible applicants has officially commenced.
According to official sources, the exemption certificates will be issued on a “first-come, first-served” basis, subject to scrutiny and fulfilment of eligibility criteria. The move is intended to promote transparency, streamline the certification process, and ensure that the benefits are extended only to genuine residents of Gilgit-Baltistan.
Only permanent residents of Gilgit-Baltistan who are registered with the relevant Chamber of Commerce and either incorporated with the Securities and Exchange Commission of Pakistan (SECP) or registered under Form “C” are eligible to apply.
Each application will undergo automated verification, including NADRA confirmation of residency, validation of SECP or Form “C” registration, Chamber of Commerce registration verification, and scrutiny of a one-year digital annual bank statement. Applicants are also required to submit a copy of their Computerized National Identity Card (CNIC), relevant registration certificates, a digital bank statement for the previous year, and a verification letter from their bank manager.
After successful registration and payment of the prescribed fee, exemption certificates will be issued based on the applicant’s annual bank statement.
The certificates have been categorized into four segments: large-scale traders, small-scale traders, youth, and women. Authorities said that district-wise population will also be considered in allocation to ensure equity and transparency.
The government expressed hope that the initiative would boost local trade, create economic opportunities, and encourage greater participation of youth and women in business activities, ultimately improving the standard of living in the region.