Federal Minister for Commerce Syed Naveed Qamar has emphasized on formulating a mechanism to resolve the problems related to stranded goods at ports.

He was co-chairing a meeting along with Federal Minister for Maritime Affairs Faisal Sabzwari in Karachi, to review the situation in order to facilitate the importers in terms of detention and other levies and expeditious clearance.

The Commerce Minister also stressed on taking steps to open commercial Letter of Credits to facilitate the business community for promoting trade.

He also called for effective implementation of policies to increase exports, reduce the current account deficit and better regulatory environment for economic growth.

Meanwhile, addressing a news conference in Karachi, Minister for Maritime Affairs Faisal Subzwari announced to waive-off the charges of containers stuck at Karachi Port and Port Qasim in order to facilitate the importers.

He said hundred percent charges of port authorities for the containers stuck at the ports are being waived off and a notification in this regard will be issued by Ministry of Maritime Affairs.

The Minister said besides the charges of port authorities, the shipping line industry and container terminals operators are also being urged to give significant waivers.

He regretted over ‘misreporting’ in some sections of media claiming that shipping business is shutting down in the country. He termed these reports contrary to the facts.