Since 05th July State Bank of Pakistan made circular and execute its strictness to file prior allow to SBP of all types of plant and machinery, which fall on Tariff Heading of Chapter 84 and 85 but Industries and Construction Sectors are still waiting for allow from SBP to proceed Financial Instrument and Goods Declaration to release their cargo and make construction work on damaged and broken Roads.
It causes heavy demurrage and detention on one side and on the other side construction companies don’t have enough sources to handle the worst situation of Roads.
It should be noted that govt lift banned on import of luxury items but Plant and Machinery which are backbone of industries in Pakistan are still stuck in Port.
Due to the flooding situation and the worst condition of roads, the state bank of Pakistan must allow all types of construction and industrial machinery in order to improve damaged roads and worst condition.
Tariq Jahangir
From Rated Logistics
CHAL NO. 3293