ISLAMABAD: Federal Minister for Finance and Revenue Dr Miftah Ismail has said the goods stuck at the ports would be gradually released with penalty surcharge.
“To meet with our international obligations, the government has issued an SRO to reverse the ban on imports of luxury items. The goods stuck at the ports will gradually be released with penalty surcharge of up to 100% of assessed value”, he said in his tweet.
The minister said Tariff Policy Board would soon come up with new Regulatory Duty rates that would ensure that the country’s limited foreign exchange is spent on essential items and not on these items that have been unbanned. “We must live within our means”, he added.
Earlier, the State Bank of Pakistan (SBP) has agreed to release the containers that had arrived at the city po SBP to release stuck containers
While referring to a message received from deputy governor SBP Dr. Inayat Hussain, Karachi Chamber of Commerce & Industry (KCCI) president Muhammad Idrees said the SBP assured that all the cases wherein the Bill of Lading was prior to issuance of SBP’s instructions on July 5, 2022, which have been submitted by KCCI, would be released within the next 2 to 3 days.rts until July 5, 2022, but remained stuck up awaiting approval from the central bank.
