Goods stuck at ports to be released with penalty surcharge: Miftah

ISLAMABAD: Federal Minister for Finance and Revenue Dr Miftah Ismail on Saturday said the goods stuck at the ports would be gradually released with penalty surcharge.

“To meet with our international obligations, the government has issued an SRO to reverse the ban on imports of luxury items. The goods stuck at the ports will gradually be released with penalty surcharge of up to 100% of assessed value”, he said in his tweet.

2) Tariff Policy Board will soon come up with new Regulatory Duty rates that will ensure that ensure that our limited foreign exchange is spent on essential items and not on these items that we have unbanned. We must live within our means.

— Miftah Ismail (@MiftahIsmail) August 20, 2022

The minister said Tariff Policy Board would soon come up with new Regulatory Duty rates that would ensure that the country’s limited foreign exchange is spent on essential items and not on these items that have been unbanned. “We must live within our means”, he added.