KARACHI: North Karachi Association of Trade and Industry (NKATI) on Monday appealed the government for allowing immediate release of textile machinery that were stuck up due to import ban.
NKATI President Faisal Moiz Khan in a statement expressed deep concern over the non-release of containers of the textile machinery, parts at the ports due to government ban and subjecting the State Bank of Pakistan (SBP) to the permission of the federal government. As a result, the containers had been stuck up at Karachi Port.
READ MORE: NKATI asks SBP to stop free-fall in rupee value against dollar
In an appeal, NKATI president Faisal Moiz Khan informed to Prime Minister Shahbaz Sharif and Finance Minister Miftah Ismail to issue orders to release the containers containing textile machinery, parts stuck at the ports, otherwise the production activities of the textile industry will be disrupted and as a result the country will lose the export markets.
READ MORE: NKATI launches industrial area beautification
“The containers containing state-of-the-art textile machinery and parts under HS code 8452-2900 & 8447-900 are not being released at the ports of Karachi. The State Bank has made it subject to the permission of the federal government to release the containers stuck at the ports due to which import containers worth billions of rupees are awaiting release,” he pointed out.
READ MORE: NKATI urges PM Imran to reduce petroleum prices
Faisal Moiz Khan appealed to Prime Minister Shahbaz Sharif and Finance Minister Miftah Ismail to take notice of the situation and issue directives to the relevant authorities including the State Bank of Pakistan to immediately release the containers containing textile machinery and parts so that the production activities can be continued without interruption and fulfilment of export orders is possible on time.
READ MORE: Pakistan raises petrol price to record high at Rs160/liter
