ISLAMABAD: Cabinet approved an agreement on cooperation with Saudi Arabia in matters related to Customs for preventing tax evasion, commercial fraud, smuggling of prohibited goods and money laundering. According to sources approval from Cabinet with reference to accord was obtained through circulation. Under agreement both countries will forge cooperation and mutual assistance in Customs related matters. As per government sources agreement with Saudi Arabia will be beneficial for Pakistan in several aspects.

Possibilities of tax and duties evasion will reduce due to this agreement. Inter-ministerial consultation process has been completed in regard to this agreement. Consultation was made with ministry of interior, defence, commerce and foreign affairs in this regard. Draft agreement was got endorsed from Ministry of Law and Justice.

Published in The Daily National Courier, February, 21 2023

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