Minister Maritime Affairs Ali Haider Zaidi while talking in meeting with a five member Employers Federation of Pakistan (EFP) Economic Council delegation has said that the final draft of Pakistan Shipping Policy has been submitted to the cabinet. As soon as SBP approves the clauses included for prevention of money laundering, the draft will be approved.
According to the additional clauses in the shipping policy draft a minimum capital of Rs500 million would be required for ship builders and a guarantee of all payments will be provided in foreign currency.
EFP-EC Chairman Ismail Suttar raised concern on absence of a National Shipping Policy that had led Port authorities to follow Pakistan Customs Act which was vague on many issues. “Shipping lines were charging non-uniform tariff structure and high container security deposits and suggested that free days for terminal demurrage and carrier detention should be increased from 4 to 10 days because custom examination and appraisement takes longer before container is released,” he explained.
The EFP Economic Council delegation was headed by EFP Vice President Zaki Ahmed Khan and EFP-EC Chairman Ismail Suttar and included EFP-EC Director Mehmood Arshad, EFP-EC Advisor Furqan Riaz and EFP-EC Coordinator Abdullah Ali Khan who met the Minister to discuss maritime affairs and workers’ wage-payment system.