KARACHI: Korangi Association of Trade and Industry (KATI) President Faraz-ur-Rehman welcomed waiver of fines on stuck up at ports by Minister for Maritime Affairs Faisal Sabzwari and Minister for Commerce Naveed Qamar.

In statement, he said that by clearing import containers, shortage of raw materials would be overcome and public would be spared from bearing burden of fines.

Faraz expressed concern over increase in interest rate to 17 percent by State Bank of Pakistan. He demanded that interest rate should be reduced immediately so as to save industries from closing down.

“By waiving fines on goods stuck up at ports, millions of rupees would be saved and problems of importers would also end.”

He stated that State Bank had also ended months-long crisis by removing condition pertaining to 180 days late payment.

Published in The Daily National Courier, January, 25 2023

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