We are committed to taking exceptional measures to facilitate imports release, ease burdens on investors: Finance Minister

Egypt’s Minister of Finance Mohamed Maait said that the government is committed to taking all measures to facilitate the release of imports and ease the burdens on investors against the global crises that have affected the global economy.

Maait also affirmed his keenness to respond to the industrial and commercial community — taking into account the current local and global conditions — and give importers enough time to complete the procedures necessary for customs release.

Furthermore, it was decided not to allow the customs administrations to refer any of the goods in ports or temporary stores — including goods that are perishable or diminished — to the department responsible for neglected goods or attempting to sell them. This would only be acceptable except after a direct approval is taken from the Minister of Finance. The concerned department is required to submit a memorandum to show the condition of the goods and the date of their expiry.

The minister stressed that the government is keen on removing any obstacles facing the business community and is doing its best to prevent the accumulation of goods at the ports. He also pointed out that collecting custom fines from investors and importers has recently been suspended due to the late completion of customs procedures, with the aim of not imposing fines on importers due to circumstances out of their hands.

According to the Egyptian minister, shipping agencies were allowed to…