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Wednesday, 28 December 2022

Last Night’s Talk Shows: The customs police are watching

Imports led the talk shows last night for the second night running, this time centered around the Customs Authority’s decision to crack down on violators who fail to disclose the true value of their imported goods. The authority yesterday said that importers caught fabricating documentation and submitting invoices of less than USD 2k — which would allow for their shipments to be immediately released without the need for a Form 4 customs document —will be classified as high risk importers on the ACI system, depriving them of any custom facilities. Violators could also face a 3-12 month suspension.

It’s yet another way of USD abuse: The Form 4 document requires importers to transfer the value of their imports from abroad through Egyptian banks. Dodging this would allow importers to keep hold of their hard currency and avoid paying customs and tax. This marks the latest in a list of measures the state has introduced to address the growing shortage of foreign currency in Egypt and crack down on the parallel market.

The Customs Authority has so far recorded 26k violations, the head of the authority, El Shahat El Ghatwary, told Ala Mas’ouleety last night (watch, runtime: 4:23). Some importers have declared imports worth USD 1.5k when in fact their imports were coming in at USD 200k-300k, he said.

Also talking imports on the air last night: FinMin advisor Mona Nasser was on Masaa DMC (watch, runtime: 8:12), and Assistant Supply Minister Ibrahim Ashmawy joined Kelma Akhira (watch, runtime: 12:28).

ALSO ON THE AIRWAVES-

FACT CHECK- Chinese mobile maker Oppo is not exiting the Egyptian market, Oppo Egypt’s public relations head Raghda Amer told Kelma Akhira last night (watch, runtime: 4:13) denying rumors circulating in the local press that the company has let go of all of its employees in Egypt ahead of exiting the market. The company has only shut down two of its local branches in response to local market disturbances, letting go of no more than 30 employees in the process, she said.

Giza Zoo + Orman Garden are now under the management of the military: A military-owned company has been awarded a 25-year contract to renovate the Giza Zoo and the Orman Garden, the head of the firm told Kelma Akhira’s Lamees El Hadidi this week (watch, runtime: 9:26). The National Military Production Company for Projects, Engineering Consultations and General Supplies will next month start to renovate the sites over an 18-month period. Following parliamentary approval on Thursday, management of both sites will be transferred from the Agriculture Ministry to the Military Production Ministry.

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