Pakistan and China set to ink yet another key memorandum of understanding
ISLAMABAD - Pakistan and China are set to jointly tackle misdeclarations at the country’s ports because of the massive losses the issue has incurred causing serious damage to foreign investment.
According to Federal Board of Revenue (FBR) Chairman Shabbar Zaidi, the Pakistani Ambassador to China, Naghmana Hashmi, has been authorised to sign the memorandum of understanding (MoU).
The decision comes at a time when the government is taking measures to control corruption within the customs department systematically.
However, China has taken the lead on the issue, with the draft for the MoU being prepared by China’s State Administration of Taxes to enable tax authorities from both Islamabad and Beijing to share data and learn from each other’s best practices.