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Karachi, The President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Sheikh, has publicly commended Prime Minister Shehbaz Sharif for implementing significant changes in customs enforcement and sales tax return processes. These reforms are aimed at enhancing the business environment in Karachi and were confirmed during a recent visit by the Prime Minister to the city.
According to Karachi Chamber of Commerce and Industry, the Prime Minister’s actions include stopping customs officials from conducting raids during the early morning hours when owners are typically absent and resolving issues with sales tax returns caused by the controversial SRO350. The changes were part of the broader commitments made by Sharif to address the concerns of the Karachi business community, aimed at fostering economic growth and improving export conditions.
The Federal Board of Revenue (FBR) has issued new guidelines to all Chief Collector Customs specifying that raids on warehouses and godowns must now occur during the day unless the owner or a representative is present at night. Additionally, in cases where no representative is available, premises are to be sealed rather than raided, ensuring the security of goods stored within.
Sheikh also highlighted that the customs authorities are now required to allow business owners to provide documents justifying their possession of goods during raids and to make a detailed inventory of detained goods in the presence of the owner or a representative. These measures, long demanded by the KCCI, are expected to significantly reduce losses incurred by businesses during such raids.
While expressing satisfaction with these developments, President KCCI reiterated the chamber’s readiness to cooperate fully with the government to achieve mutual economic goals and expressed hope that other issues discussed with the Prime Minister would also be resolved soon.
The post Karachi Chamber of Commerce Praises Government for Customs Policy Reforms appeared first on Pakistan Business News.