FPCCI’s request: FBR to grant waiver on penal surcharge

FPCCI urged FBR to grant 100% waiver of Penal Surcharge (PS) on goods overstayed in warehouse.


Ppi June 23, 2014

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Zakaria Usman on Monday urged Federal Board of Revenue (FBR) Chairman Tariq Bajwa to grant 100% waiver of Penal Surcharge (PS) on goods overstayed in warehouse and extend the warehousing period up to June 30, 2014. “This will facilitate the importers in release of such goods at a comparatively lesser rate,” said Usman. “It will ensure smooth supply of raw materials to the industry and consumer goods on the one hand and increase in revenue to the government exchequer on the other, boosting economic activity in the country and reducing the liquidity crunch.”

Published in The Express Tribune, June 24th, 2014.

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