Karachi: Chairman of Pakistan Soap Manufacturers Association Shahzad Paracha thanked Consul General Republic of Indonesia Dr. June Kuncoro Hadiningrat and Rasheed Jan Muhammad Chairman PEORA and number of PSMA members across country for attending Annual Dinner at local hotel. After brief introduction of PSMA, he said our Association is existing since 1968 and this is its 55th Annual Dinner, adding there are over 150 member companies including multinational companies which contribute to around 70 billion in taxes and employs 700,000 people from country’s workforce. 

Paracha presented details as to how association has lobbied with customs officials in bringing Customs valuation of Palm Oil and its bye-product in line with international market prices by linking products with their respective international journals. But Shahzad showed his concern over Customs officials not to stop mis-declaration and under invoicing import of Residue Wax Oil which is done by some commercial importers under head of 3404.9000 and 3824.9999 despite several reminders to Customs authorities. He hoped Chief Indonesian CG will provide his best assistance to PSMA members. 

Usman Ahmed former Chairman and current Convener PSMA Customs Committee and CEO Gamalux Oleochemicals Limited presented overall economic environment in Pakistan and highlighted PSMA contribution in flood relief efforts. He pointed out to PSMA members explore export opportunities to generate foreign exchange for national exchequer.

Rasheed Jan Mohammed commended PSMA services for country’s economic development and its proactive approach in resolution of industry problems. Dr. June Kuncoro Hadiningrat highlighted flood relief efforts by his government and shared latest statistics of palm oil and its fraction import by Pakistan.

He pointed out problems, some valuable suggestions and his office ceaselessly supports members. He invited members to Single Country Pakistan Expo to be held in Jakarta. He hoped both governments are agreed to elevate level of economic cooperation and PTA signed in 2012, into Free Trade Agreement or Indonesia-Pakistan Trade in Goods Agreement (IP TIGA).

Published in The Daily National Courier, September, 20 2022

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