SBP should give a clear policy, the business community is facing the worst loss in history, Faraz-ur-Rehman.
Karachi: Chief Collector Customs Enforcement South Muhammad YaqoobMako has said that they try to resolve the complaints of industrialists within 48 hours. Information is provided to the complainant along with the reasons within a few hours. Report immediately if any official harasses you, He expressed these views during his visit to Korangi Association of Trade and Industry (KATI). President KATI Faraz-ur-Rehman, Senior Vice President NighatAwan, Vice President Muslim Mohammadi, Standing Committee Chairman Masood Naqi, Former Presidents Farhan-ur-Rehman, Danish Khan, Ehtshamuddin, Tariq Malik and others were also present in the ceremony.
Chief Collector Customs YaqoobMako further said that there is a determination to provide customs facilities.KATI should provide suggestions, and grievances which can be redressed through mutual consultation. The Chief Collector said that despite the problems faced by the customs, there is a continuous decrease in smuggling which is delightful. He said that dollars are going out of the country due to demurrage and detention, and the country is currently going through difficult situations in which we all have to play a role. YaqoobMako said that measures are also being taken for innovation in customs, along with providing facilities to traders, the struggle to prevent smuggling is ongoing.
Earlier, KATI President Faraz-ur-Rehman said that the steps taken by the customs officials and officers to eradicate the menace of smuggling helping to stabilize the economy despite the lack of resources and manpower is commendable. He said that due to the containers being stuck at the port, the business community is suffering a lot. The State Bank policy should clarify what to do next, and how the losses of traders and industrialists can be avoided from this difficult situation. Containers are not being cleared despite permission from State Bank, he added. Demurrage and other penalties are also being levied in dollars, causing foreign exchange losses due to delays. President KATI said that trade can be promoted on the barter system considering the shortage of dollars. There is a need for a clear policy for the government and State Bank in this regard. Faraz-ur-Rehman said that the situation is difficult but it is not hard to get out of it.
Chairman Standing Committee and Former President KATiMasood Naqi said that unfortunately, the economic situation has been like this for many years. We are facing a shortage of foreign exchange reserves for which concerted action is needed. Due to the non-issuance of LCs, smuggling is also increasing. Businessmen are facing the most difficult conditions in history.
