LCCI assured: Concerns of importers about SRO 598 to be taken up with ministries

LAHORE: Federal Secretary Industries Imdadullah Bosal has said that all the concerns of importers regarding SRO 598 will be taken up with the concerned ministries for their immediate redressal.

The President, Lahore Chamber of Commerce & Industry Mian Nauman Kabir travelled all the way to Islamabad for resolving the problems of importers. He had detailed meetings with Federal Secretary Industries Imdadullah Bosal, Chairman Federal Board of Revenue Asim Ahmad and other high-ranking officials of the State Bank of Pakistan.

While talking to the Federal Secretary Industries, Mian Nauman Kabir said that it was very encouraging that the government accepted the LCCI demand and released the consignments stuck at ports and airports after granting one-time special permission to the importers whose consignments of luxury goods which were landed on or before June 30, 2022. But some more problems have also emerged after the imposition of said SRO.

During these meetings, the LCCI Chief urged the banks to release import documents to the importers immediately as they are facing huge losses due to non-release of consignments.

Mian Nauman Kabir said that the LCCI has been approached by various members engaged in the import business. The shipping companies are trying to cash the situation and charging a huge demurrage and detention charges on these consignments.

The LCCI Chief said that since the importers are not at fault in this whole scenario, they should be issued import documents immediately and detention and demurrage charges should be waived-off immediately.

He said that this anomaly needs to be redressed at the earliest to save the business community from heavy demurrages and detention charges. “This is causing heavy financial losses to the business community and national exchequer and benefiting only the shipping lines,” he added.

The LCCI President has also highlighted the need to establish Export Promotion Zones and Special Economic Zones as it is crucial to promote industrialization and increase exports manifold.

Federal Secretary Industries Imdadullah Bosal, Chairman FBR Asim Ahmad assured the President LCCI Mian Nauman Kabir of solving the importers’ issues at earliest.

Copyright Business Recorder, 2022