Stranded containers: Govt says it will waive off KPT and Port Qasim charges – Bazar Pipa News

Stranded containers: Govt says it will waive off KPT and Port Qasim charges – Bazar

For the convenience of the trading community, the federal government has decided that it will completely waive Karachi Port Trust (KPT) and Port Qasim charges for containers stranded at the ports, said Faisal Sabzwari, federal minister for maritime affairs, on Monday. .

“The government has decided to waive off 100% duty of KPT and Port Kasim on thousands of containers stuck at the ports,” Subjhwari said. The community has also been informed.

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Talking to media persons in Karachi, the federal minister sat down with the business community and said that businesses have suffered due to the current situation.

Sabzwari denied reports that the shipping lines were going to stop their operations in Pakistan. “No shipping company is going to close its business in Pakistan,” he said.

“To be clear, nothing of the sort will happen. Secondly, we have held talks with the shipping lines and asked them to facilitate our businesses,” he said.

“Soon, the Trade Corporation of Pakistan (TCP) will be given off-dock terminal status, and all stranded containers will be shifted there, eliminating our port congestion and issues with shipping lines and terminal operators said the minister.

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He said that the Pakistan International Container Terminal (PICT), which has a 20-acre off-dock terminal, would provide these facilities free of cost to the business community.

Earlier on Monday, the State Bank of Pakistan withdrew the requirement of prior approval for imports and instead asked banks to prioritize imports of certain essential items such as food, medicine and energy to facilitate businesses.

“SBP has advised banks to provide a one-time facility to all importers who can either extend their payment terms by 180 days (or more) or arrange funds from abroad to settle their pending import payments. Can

It added that by March 31, 2023, banks have been advised to process and issue documents for shipments/goods which have already arrived at a port in Pakistan or are due to be discharged on or from January 18, 2023. have been sent earlier.

The SBP also wants customers to inform their banks before initiation of any import transaction to “avoid any complications in future”.

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The low level of foreign exchange reserves was the reason the SBP banned imports last year, much to the chagrin of many importers and businesses in Pakistan, who cited these restrictions as a reason to close or reduce operations.

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