The PM directed the formation of a joint committee to develop a vision and plan to facilitate procedures and the exit of containers at the ports as quickly as possible.
More than $1.5 billion worth of stuck imports were released from ports between January 18 – 23, revealed a cabinet statement yesterday, as the government continues to work on accelerating the release of goods.
Official spokesperson of the cabinet, Nader Saad, did not disclose the value of goods still left at ports, however, on January 18th, Prime Minister Mostafa Madbouly noted around $5.3 billion worth, with around $3 billion awaiting documents from importers rather than hard currency to be released.
Madbouly followed up on the project management and customs development yesterday with the Ministers of Finance and Transport, as well as relevant executives from the finance ministry. During the meeting, they discussed proposals and mechanisms that would speed up the completion of procedures and the exit of containers at the ports.
The PM directed the formation of a joint committee from the Ministries of Finance and Transport to develop a vision and plan to facilitate procedures and the exit of containers at the ports as quickly as possible.
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The government is looking to accelerate the release of goods while working to ensure that its pre-shipment system is running effectively, which will contribute to facilitating imports’ release procedures, explained Saad.
Last week, the PM explained that the entry and exit cycle of imports has started to return to its average pace.