SBP agrees to release all stuck-up containers within 2 to 3 days: KCCI

August 15, 2022: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Idrees has informed that the State Bank of Pakistan (SBP) has agreed to release all the containers which arrived at the Ports until July 5, 2022 but remained stuck up awaiting approval from SBP.

While referring to a message received from Deputy Governor SBP Dr. Inayat Hussain, President KCCI said that Deputy Governor SBP has assured that all the cases wherein the Bill of Lading is prior to issuance of SBP’s instructions on July 5, 2022 which have been submitted by KCCI will be released within the next 2 to 3 days whereas any other pending request for release of similar stuck-up consignment may also be referred to SBP for timely release.

Muhammad Idrees said that thanks to the untiring efforts made the leadership of Karachi Chamber, particularly Chairman Businessmen Group Zubair Motiwala who constantly remained in touch with Finance Minister Miftah Ismail and kept convincing him to resolve this matter, relief has finally been provided to perturbed importers which the business community warmly welcomes.

He thanked Finance Minister Miftah Ismail for taking keen interest in all the issues being raised by KCCI and issuing prompt directives for resolving the same on top priority which has help in restoring the confidence of the entire business and industrial community. “This particular step to release stuck up containers along with some other pro-business measures and the government seriousness towards resolving the pressing issues suffered by the economy would ensure that the wheels of the industry keep on spinning without any interruption”, he added.

Press Release