KARACHI: The government has suspended the import conditions contained in Import Policy Order with regard to import of timber and wood. According to the notification of Ministry of Commerce, the amendments brought in the order from time to time shall not be applicable to such imports where bill of landing or irrevocable letters of credit were issued or established prior to the issuance of amending order.

Notification states, “Consignments of the goods where bill of landing of irrevocable letter of credit were issued prior to 1st September 2022 shall not be subject to conditions regarding import of timber and wood listed in IPO 2022”.

Sharjil Goplani, Chairman All Pakistan Timbers Traders Association (APTTA) and President Karachi Timer Merchant Group (KTMG) thanked the Prime Minister, Commerce Minister, Honorable Finance Minister, Secretary Commerce, Special Secretary Commerce, Chairman FBR and all the officials for issuing the notification, which have removed the confusion regarding their import shipments.

Copyright Business Recorder, 2022