Importers face clearance delays

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday said importers and industrialists were facing payment, clearance, and demurrages issues on consignments falling under the Customs tariff chapters 84 and 85 despite the government’s assurances of extending implementation date of restrictions to July 5, 2022.

Raising the issue, FPCCI president Irfan Iqbal Sheikh demanded the State Bank’s Foreign Exchange Operations Department (FEOD) to swiftly clear all import payments to save importers from any further delays, demurrages and losses.

He also asked the FEOD to approve only those payments individually that fall after July 5, 2022 as per their own circular.

FPCCI chief added that goods falling under the aforementioned chapters were still not being cleared without penalties, causing huge losses to importers. Dollar outflows continued for the payment of container rent, demurrages and terminal charges, therefore, the ban could not even serve the purpose to restrict the outflow of dollars, he added.

Sheikh explained that restrictions on chapter 84 and 85 had also affected import of tractor parts and other agricultural machinery. Agricultural sector was already under devastating effects of torrential rains across the country, he mentioned.