By Commerce Reporter
LAHORE: Senior Vice President of the Lahore Chamber of Commerce & Industry (LCCI), Mr. Tanveer Ahmed Sheikh, has expressed serious concern over the unchecked misuse of duty-free imports of steel products, emphasizing the need for immediate regulatory safeguards to protect Pakistan’s documented steel sector and broader industrial base.
Read also: LCCI SVP Tanveer Ahmed Sheikh lauds Pakistan’s current account surplus of $100 million in November
Commenting on reports regarding duty-free Chinese imports cleared through the Customs Dry Port Sost, the SVP stressed that while trade facilitation and regional connectivity are important, policy loopholes must not be allowed to damage local manufacturing or distort fair competition.
He supported the proposal urging the Federal Board of Revenue (FBR) to introduce a mechanism of advance pay orders as collateral for duty- and tax-free imports, to be adjusted only after verified consumption certificates are issued by relevant authorities. Such a mechanism, he said, would discourage misuse of tax exemptions and prevent the diversion of goods into taxable markets.
The SVP LCCI noted that Pakistan’s steel industry is already under immense pressure due to high energy costs, interest rates, and declining demand. Allowing duty-free imports without strict monitoring could further weaken local producers, lead to revenue losses for the national exchequer, and discourage formal sector investment.
Mr. Tanveer Ahmed Sheikh urged the government and FBR to engage all stakeholders, including chambers and industry associations, before implementing or continuing such policies. “Trade facilitation must go hand in hand with transparency, documentation, and protection of domestic industry,” he added.
He reaffirmed LCCI’s commitment to working closely with policymakers to ensure balanced trade policies that promote economic growth, protect local industries, and strengthen Pakistan’s revenue framework.
About the Author
