The Iraqi General Company for Ports, in cooperation with joint operating companies, has launched an initiative to reduce cargo storage fees by 50 percent at Umm Qasr Port, coinciding with the approach of the holy month of Ramadan, in a move aimed at easing financial pressure on citizens and traders.

The Director General of the company, Farhan al-Fartousi, said that the initiative applies to goods currently stored at the port, as well as cargo entering the port between January 1 and February 1, with an additional grace period extending until February 15 to complete customs and clearance procedures without incurring extra charges.

Al-Fartousi clarified that the discount applies exclusively to storage fees under the joint operating companies and does not include other service charges. He noted that the measure is designed to encourage traders and customs brokers to accelerate the release of their goods while reducing overall costs.

According to the company, the initiative is part of a broader policy aimed at facilitating trade movement, improving cargo flow, and supporting economic activity, particularly during the pre-Ramadan period when market demand typically increases.

Officials expect the decision to contribute positively to market stability by lowering logistical costs, which could help limit price increases on imported goods and support commercial activity across local markets in the coming weeks.
Source: IraqiNews.com