Over 1,800 Containers Remain Stuck at Port Qasim for Various Reasons

The Senate Standing Committee on Finance and Revenue was informed by the Federal Board of Revenue (FBR) on Wednesday that over 1,800 containers are held up at Port Qasim. The meeting, chaired by committee chairman Senator Saleem Mandviwalla, was informed that presently 988 containers are held up at port Qasim due to State Bank of Pakistan (SBP) regulations  and they are being released after the approval of the central bank. It was also apprised that in addition to the above around 860 containers are also held due to non-fulfillment of various Import Policy Order (IPO) conditions, misdeclaration, and court cases, taking the total tally of stuck containers to 1,848. During the meeting, the EXIM bank also gave a briefing on its progress till 6-11-2022 regarding the approval process of operationalization of the bank. The committee sought the next report on January 31st, 2022.