GILGIT: The Federal Government, Government of Gilgit-Baltistan (GB), and the authorised representatives of the Local Traders Supreme Council have signed a landmark agreement to ensure smooth operations of the Silk Route Dry Port (SRDP) at Sost, providing major tax relief to the people of the region.
According to the agreement, the Federal Board of Revenue (FBR) will not collect Federal Excise Duty, Sales Tax, or Income Tax on imports via Sost that are meant for local consumption within Gilgit-Baltistan. The exemption, capped at Rs 4 billion per annum, will apply only to goods covered under the agreed positive tariff lines and imported by firms owned by indigenous people duly authorised by the GB Government.
The deal also outlines key measures:
- Stuck consignments at Sost will be cleared on priority under Customs Appellate Tribunal orders.
- A transparent monitoring system will be established to prevent misuse of tax exemptions.
- Development of border areas, particularly in Gojal (Hunza), will be included in GB’s annual provincial budget.
- Special facilitation for GB traders will be considered to strengthen trade links with China.
The agreement was signed by Federal Ministers Awais Leghari, Amir Muqam, and Sana Ullah Khan, along with Senator Saleem Mandviwalla, on behalf of the Federal Government.
Chief Minister Gulbar Khan, former CM Hafeezur Rehman, and MPA Amjad Hussain signed on behalf of the GB Government.
The Traders Supreme Council was represented by Ashfaq Ahmed, Kamran Ghazi, Gulsher Khan, Saleem Uddin, and others.
As per the terms, traders have agreed to immediately end their protest at Sost. Officials state the settlement marks “a robust and transparent mechanism” to safeguard the interests of the local population while boosting regional trade.
