KARACHI, Dec 7: The Karachi Chamber of Commerce and Industry (KCCI) has stressed on the need for opening the banks on Saturdays in order to facilitate exports.

KCCI president Abdullah Zaki welcomed the FBR’s recent notification regarding opening of Customs House on Saturdays.

“This is a positive step and will have an impact on timely collection of duty/taxes. However, it will only be beneficial when commercial banks, SBP-BSC Offices and NIFT also work six days a week,” he said.

Referring to KCCI office-bearers meeting with President Mamnoon Hussain and Federal Finance Minister Ishaq Dar, he appreciated the issuance of directives to the FBR for opening of Custom Houses on Saturdays.

He was of the view that the services of National Institutional Facilitation Technologies (NIFT), which is overseeing the operation of the clearing house for the commercial banks operating within their jurisdiction, must be available on Saturdays at least for half day to facilitate timely clearance of payment instruments of various commercial banks.—APP