The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) have sent a letter to the secretary commerce and chairman FBR urging to delay the implementation of SRO 604 until the backlog of 500 containers is cleared. The said containers of solar panels have been stuck at port for over two months now causing financial loss of Rs. 12 million approximately per day to the trade in terms of demurrages, container rent, etc.
According to Arshad Jamal, vice president FPCCI, the ministry of commerce had made PSI certificates and test reports mandatory from the port of origin for the clearance of the consignments of solar panel and other related equipment without mentioning the date of its implementation. Later, the ministry had clarified that the SRO would not be applicable on the goods of which bill of lading or letter of credit was established till June 1, 2019.
However, under central bank regulation, payment of imports is made either through letter of credit, without letter of credit against documents received for collection on bases of registration of contracts, or as clean remittance without opening of letter of credit and without registration of contact.
Therefore, this case also falls under the same category as stated by the ministry in the office memorandum dated July 4, 2019, if the purpose for imposing the requirement of PSI certificates and test reports on the disputed imports was to protect public interest then it should be implemented equally and fairy among all commercial importers.
