950812

Call to raise

PSI-exempt

import ceiling

to $10,000

RECORDER REPORT

KARACHI: The Pakistan Yarn Merchants Association (PYMA) has proposed to the Central Board of Revenue to raise the ceiling of imports without Pre-shipment Inspection to $10,000 so the small importers can be saved from the inspection hassle. The present ceiling of imports which do not fall under the PSI scheme is $3,000.

The PYMA Chairman, Mohammad Iqbal Mangrani, said in a statement that the present value of PSI exempt imports is very low in view of the rate of inflation. This ceiling is $5,000 in Indonesia where also the PSI scheme is inforce.

He said that there are frequent complaints about the working of the PSI scheme in Pakistan, which has only resulted in delay in clearance of goods and creating disputes between the Customs and the importers. About two weeks are wasted at both ends i.e. suppliers and receivers, in case of imported goods.