End of Overbilling: Shipping Lines Shift to SBP’s Official Dollar Exchange Rates

The All-Pakistan Shipping Association (APSA) has informed the Federal Board of Revenue (FBR) that all member shipping lines are now charging shipping fees strictly on the basis of exchange rates provided by authorized commercial banks, in line with State Bank of Pakistan (SBP) regulations.

Pakistan Customs has described the development as a major industry-wide breakthrough, saying it has ended the long-standing practice of arbitrary and inflated exchange rates used by international shipping lines for billing shipping charges.

In a formal communication dated January 12, 2026, APSA confirmed that its member shipping lines have fully complied with SBP rules by applying official bank exchange rates for all shipping-related charges.

The move follows sustained engagement by a high-level committee constituted by Pakistan Customs, which held extensive consultations with shipping agents, terminal operators, trade bodies and international shipping lines.

As part of the process, Maersk—the largest shipping line operating in Pakistan, handling around 26 percent of the country’s total cargo—had earlier started applying official bank exchange rates, setting a precedent for the rest of the industry.

Written confirmations of compliance have since been received from major international shipping lines and their local agents, including Hapag-Lloyd, Ocean Network Express, COSCO Shipping, CMA CGM, Mediterranean Shipping Company, OOCL and United Marine Agencies, among others, establishing full industry-wide adherence to SBP-compliant exchange rates.

For several years, traders and exporters had raised concerns over the use of inflated dollar exchange rates by shipping lines, often well above SBP-notified levels. The practice increased business costs, hurt export competitiveness and created uncertainty over shipping charges.

The shift to official exchange rates is expected to ease cost pressures on traders and exporters, improve transparency and predictability in shipping charges, and restore confidence in the shipping and logistics sector.