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LCCI welcomes steps to check smuggling

RECORDER REPORT

LAHORE: The President of Lahore Chamber of Commerce and Industry (LCCI), Ilyas M Chaudhry, has welcomed the steps taken by the government to eliminate smuggling.

In a press statement issued here on Friday, he appreciated the government's decision to give traders three months' time to clear the duties on smuggled goods they are selling.

He said that this relaxation would enable them to deposit duties in the national exchequer. He also appreciated the one-month grace period allowed for payment of duty on smuggled vehicles.

Ilyas estimated annual smuggling of Rs 200 billion per annum which, he claimed, was disastrous for local industry. He also alleged that duty evasion was rampant at all dry ports which accounted for the cheap low prices of foreign goods in the local market which, in turn, rendered local products unpopular.

He appealed to the government to take strict administrative measures to eliminate smuggling and to promote local products.

The LCCI chief also hailed the restoration of powers of the Frontier Scouts to check cross-border smuggling and setting up of one-point joint check-post for all regulatory agencies. He said that this would reduce departmental corruption.

He also welcomed the decision to reduce the number of bonded warehouses for imported goods from 48 to 10.