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Faisalabad Dry Port facing financial crisis due to decline in import consignments

Faisalabad Dry Port facing financial crisis due to decline in import consignments

FAISALABAD: Faisalabad Dry Port Trust (FDPT) is facing severe financial issues due to decline in import clearances after the imposition of Punjab infrastructure levy.

This was stated by Faisalabad Dry Port Chairman Chaudhary Mushtaq Ali Cheema while addressing MNAs and MPAs. He said import clearance from Faisalabad Dry Port has dropped due to imposition of levy of Punjab Infrastructure Development Cess. The levy has put negative impact on the clearances of import consignments from Faisalabad Dry Port after imposition of 0.9% PIDC recently.

Local manufacturers and importers are avoiding their import clearances from Faisalabad Dry Port after the imposition of Punjab Infrastructure Development Cess. Faisalabad Dry Port Trust is also handling less import containers from average numbers after the imposition of Punjab Infrastructure Development Cess.

Local importers have moved from Faisalabad Dry Port to Karachi for clearances of their import consignments to avoid dual taxation on their import consignments. The income of the Faisalabad Dry Port Trust also declined due to handling of less import consignments.

The decline in import consignment is creating financial issues for the Faisalabad Dry Port Trust and their major income from import handling of containers has been shifted to Karachi.

Due to decline in the import, FDPT authority is facing financial issues in meeting their port expenses. Faisalabad Dry Port Trust has 30 members staff and it is a big challenge for FDPT to pay salaries of their staff because it is very tough to run Faisalabad Dry Port Trust with Punjab Infrastructure Development Cess and provincial government is not ready to give any concession to importers on their import clearances.

Main Muhammad Latif, trustee of Faisalabad dryport trust informed that exporters are contributing a lot towards the national exchequer and playing a vital role in development of exports but there is lethargy in resolution of their issues from government side. He expressed Faisalabad Customs Dry Port is the only port available in the region for business community which facilitates exporters and importers.

MNAs Raja Riaz Ahmad and Farrukh Habib also addressed the members and said that he is already providing maximum facilities to the local importers and exporters within the given mandate. Business community should utilize clearance facilities of Faisalabad Dry Port and their problems would be resolved on top priority basis.