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The Financial Express

No penal rent if goods cleared during ongoing holidays: CPA

FE ONLINE REPORT | Published: April 06, 2020 12:18:51 | Updated: April 07, 2020 12:19:07


No penal rent if goods cleared during ongoing holidays: CPA

Chittagong Port Authority, or CPA, has said consignees will not require any mandatory payment of penal rents if they clear their goods from the port yards during the ongoing general holidays ending April 14.

The CPA came up with this offer in a circular on Sunday as it witnessed an overstay of loaded containers in recent weeks due to the slow delivery of goods following an outbreak of COVID-19.

Usually, importers get a four-day free storing facility at the port yards. But as per existing port rules, they need to pay penal rents from the fifth day.

These penal rents continue up to 28 days on different slabs. However, on an average, consignees pay penal rents for two to three days.

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