20000117

FDPT handles

21,661 export

cargo in 1999

RECORDER REPORT

FAISALABAD: The Faisalabad Dryport handled a record 21,661 export cargo containers, worth Rs 32,261.23 million, during 1999 as against 20,480 export consignments handled during the preceding year of 1998.

This was stated by Ch Mushtaq Ali Cheema, Chairman, Faisalabad Dryport Trust. He said during the period under review, as much as 2,285 import cargo containers arrived at Faisalabad Dryport during 1999, worth Rs 2,617.41 million as against 3,026 import consignments reached here during 1998.

The government fetched an income of Rs 785.12 million as during 1999, whereas the government income stood at Rs 1,081.348 million and Rs 1,310.96 million during 1998 and 1997 respectively.

The sharp decline of imports in up-country dryports including the Faisalabad dry port and the decrease of the government revenue was the result of ill-conceived policies of the previous PML government which did not realise the catastrophic dimensions of the impugned tax policies.

He said the levy of one percent stamp duty on bill of entry and the letter of credit by the government and the clamping of 0.4 percent excise duty on up-country dryports by the Sindh government badly hampered the import business at dryports for the last two years.

The situation has worsen and the investment of billions of rupees in the dryports set-up in the private sector have virtually been sunk.

The FDPT chairman has appealed to Chief Executive Gen Pervaiz Musharraf and Federal Finance Minister Shaukat Aziz to personally intervene in the matter and help save the up-country dryports from total collapse, besides issuing a directive to revise the government policies after proper assessment of the pros and cons of various levies.