Zia Sarhadi applauded the FBR’s initiative, which aligns with the aspirations of the country’s business stakeholders. The new rules hold the potential to put an end to the current exclusivity enjoyed by one tracking service provider and introduce healthy competition into the market.
The recent notification signifies a notable relaxation in the criteria for companies seeking licenses for tracking and monitoring vehicles and containers transporting transit or imported cargo. The minimum annual turnover requirement has been reduced from Rs350 million to Rs175 million, while the financial health threshold has been lowered from Rs200 million to Rs100 million. This shift is expected to open the door for a broader range of companies to enter the sector and provide high-quality services.
Zia Sarhadi highlighted that this amendment would promote a competitive landscape, allowing multiple companies to offer tracking and monitoring solutions, thus providing businesses with options other than the current sole provider. Presently, due to the lack of alternatives, the single tracking company charges exorbitant rates for its services, posing a challenge for businessmen.
The Director of PAJCCI expressed optimism that the FBR will adhere to its schedule for the bidding process, set for September 2023. Furthermore, he hopes that the regulatory requirements for engaging new companies in the tracking process will be expedited.
The move by the FBR to revise cargo tracking and monitoring rules is seen as a positive step towards enhancing transparency, affordability, and efficiency within the cargo transportation sector, ultimately benefiting the wider business community in Pakistan.
