President of Sialkot Chamber of Commerce and Industry hailed the decision of Federal Government to allow duty-free import of PU Leather under the SRO 492

Sialkot, May 13, 2022 (PPI-OT):Mian Imran Akbar, President of Sialkot Chamber of Commerce and Industry has hailed the decision of the Federal Government to allow duty-free import of PU Leather under the SRO 492. He shared that the breakthrough had been achieved after strong advocacy and lobbying efforts of the Sialkot Chamber of Commerce and Industry. “The Federal Board of Revenue has allowed the import of PU Leather under the SRO 492 (I)/2009 vide their clarification C.No.11(17)DRD/2010(PT-I) issued on May 12, 2022. This is an achievement of this Chamber as the deadlock was persisting for last many months” the President said.

He shared that the Sialkot Chamber took up the issue with all the stakeholders including the Finance Minister, Commerce Minister, Chairman FBR, and Member Customs (Policy). He said that the issue arose after an erroneous interpretation and subsequent holding of shipments at various Customs Stations. Mr. Akbar informed that PU Leather was a vital raw material for use in the manufacturing and export of Soccer Balls and had been exempt from the levy of Custom Duties for the last 45 years under various temporary importation schemes.

The President said that the Sialkot Chamber had informed the Government regarding the impact of barring duty-free PU Leather imports would be disastrous for the Football Manufacturing and Export Sector of Pakistan as the annual export earnings of the sector stood at USD 120 (M) which could peak at USD 200 (M) during the world cup season and all the business could be lost to China and India.

Mian Imran Akbar thanked Mr. Miftah Ismail, Finance Minister, Mr. Naveed Qamar, Commerce Minister, and Mr. Asim Ahmad, Chairman FBR for understanding the gravity of the situation and accepting the demands on merit. He especially thanked Khawaja Muhammad Asif, Federal Minister for Defence for his unwavering support extended to the Sialkot Chamber.

For more information, contact:
Sialkot Chamber of Commerce and Industry (SCCI)
Shahrah-e-Aiwan-e-Sanat-o-Tijarat, Sialkot – 51310, Pakistan
Phone: +92-52-4261881-3
Fax: +92-52-4268835, +92-52-4267919
E-mail: sialkot@scci.com.pk
Website: http://www.scci.com.pk

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