Minister Naveed Qamar stresses to resolve problems of stranded goods, opening of LCs


Federal Minister of Commerce Syed Naveed Qamar on Monday emphasized on formulating the mechanism to resolve the problems of stranded goods at the ports.
A meeting chaired by Federal Minister Commerce Syed Naveed Qamar and co-chaired by Federal Minister Maritime Affairs Faisal Sabzwari was held today at KPT head office, in Karachi, said a press release issued here.
The meeting was attended by top officials of the Commerce Ministry, Customs, State Bank of Pakistan (SBP), Ports and other stakeholders to review the situation in order to facilitate the importers in terms of detention and other levies and expeditious clearance.
The minister also stressed on taking steps to open commercial Letter of Credits (LCs) to facilitate the business community; for promoting trade; effective implementation of policies to increase exports; reduction in current account deficit; and better regulatory environment for economic growth to be implemented.