Gwadar Free Zones Transition to Pakistani Rupee for Trade Transactions

ISLAMABAD – In a groundbreaking move, Gwadar Free Zones have initiated de-dollarisation following a decisive change in the federal budget 2024-25, allowing all companies within the zones to conduct trade transactions in Pakistani rupees instead of US dollars.

According to the revised SRO.805 (I)/2024 Customs Rules 2001, the requirement for dollar transactions between Gwadar Free Zone and the tariff area (Pakistan’s markets and industries outside Gwadar Free Zone jurisdiction) has been eliminated. This shift enables businesses in both areas to trade in Pakistani currency, shielding them from the volatility of the US dollar.

An official from Gwadar North Free Zone company, Agven Private Limited, shared with Gwadar Pro that the e-custom clearance system, "Web Based One Custom" (WeBOC), is being updated to facilitate these changes. In the coming days, a high-level meeting involving the Gwadar Port Authority, Pakistan Customs, FBR, and other stakeholders will be held to establish a cohesive mechanism and finalize the necessary procedures.