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HomeBusinessPorts to release stuck goods with 100% penalty 

Ports to release stuck goods with 100% penalty 

Vehicles, mobile phones, home appliances, and other property may now be released with a 100 percent penalty surcharge.

According to the notice, more imported goods were permitted with the payment of a surcharge of up to 35%. Items received after June 30 and released between July 1 and 31 will incur a 25% penalty cost.

The federal government earlier on August 18 loosened the restriction on the importation of luxury and non-essential products, which had been in place for three months.

The release of imported commodities with a penalty fee of 100% of assessed value that landed at the ports after June 30 has been authorised by the federal government.

According to reports, the federal government has allowed the release of all imported commodities and levied fines of up to 100% on goods that had landed at ports by the end of July despite restrictions.

The announcement was made at a news conference by Finance Minister Miftah Ismail, who noted that the limits were implemented in response to IMF guidelines.

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