CAMEROON NATIONALSHIPPERS' COUNCIL
CAMEROON NATIONAL
To further assist importers amidst rising sea freight rates, the Minister of Finance, Louis Paul Motaze, signed another ministerial decision on 28 February 2022 extending the deadline for the application of the 80% special discount on sea freight costs to 31 May 2022. This comes second to the ministerial decision initially signed on 16 November 2021 limiting the application of this ad-hoc measure to 28 February 2022.
More than a breath of fresh air on a sunny afternoon, this shall drastically reduce customs duties on goods imported by sea which shall in return prevent an increase in consumer good prices as current freight costs shall remain affordable.
The extension of this salutary decision by the Government demonstrates its willingness to assist business persons who, given the state of affairs, are still faced with other difficulties. This move by the Minister of Finance is the outcome of the stable market prices observed since the implementation of the November 16 ministerial order.
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