Legal Requirement Of Brands Licenses Registration Introduced: Shaukat Tarin

Legal requirement of registration of brand licenses by certain sectors is being introduced in this budget to tackle the major concern of availability of counterfeit goods in the market

ISLAMABAD, (UrduPoint / Pakistan Point News - 11th Jun, 2021 ) :Legal requirement of registration of brand licenses by certain sectors is being introduced in this budget to tackle the major concern of availability of counterfeit goods in the market.

Minister of Finance and Revenue, Shaukat Tarin said during his budget speech in the Parliament House on Friday.

He said that one of the major concerns of our times is the availability of counterfeit goods especially cigarettes in the market.

Although we have already introduced the mechanism of Trace and Track system which is in the process of implementation; however, to enforce more stringent measures, legal requirement of registration of brand licenses is being introduced.

Through this measure, all the manufacturers of specified goods will be legally required to get registered their brands with FBR and accordingly unregistered brands will be treated as counterfeit goods liable for outright confiscation and destruction.