CAIRO - 30 August 2022: Finance Minister Mohamed Maait said that a package of exceptional measures was approved to ease the release of imports and ease burdens on investors and importers in face of the ongoing international economic crisis in a way that contributes to reducing customs storage charges and fines.
In a statement released by the Finance Ministry on Tuesday, Maait said the package will be effective within the coming few days in implementation of the presidential directives followed up by Prime Minister Mostafa Madbouli.
Maait said the package was reached after coordination between the Central Bank of Egypt (CBE), the ministries of transport, trade and industry, the shipping chamber as well as the shipping agents in order to prevent the accumulation of goods at the harbors.
He also said goods' release will take place within the few coming days for any shipments that have finalized the customs' measures and wait for "Form 4" document after coordination between CBE and the Ministry of Trade and Industry.
Maait also pointed out to a suspension of fines' collection from investors and importers, who have delayed the customs clearance measures, in order to ease the burdens on them and not to pay extra fees on the imported commodities.
The minister also noted that the period granted for food commodities' release has been extended to four months before they are turned out to "negligence" area taking into considered the expiration date, while other goods have been granted six months permit.
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