The Federation of Chambers of Commerce and Industry also demanded the abolition of banking financial instrument conditions. Photo: File
Karachi: A letter was sent to the Governor State Bank to clear the container on behalf of the Federation of Chambers of Commerce and Industry of Pakistan.
Pressure is mounting on the government to clear long-standing containers containing industrial raw materials and other commodities at the ports. The Federation of Chambers of Commerce and Industry of Pakistan has sent a letter to Governor State Bank to resolve the issue, in which an emergency meeting has been requested on the issue of clearance of imported raw materials. The letter states that such economic conditions have never occurred before in history.
In the letter, Vice President FPCCI Shabir Mansha said that FPCCI is facing severe pressure from various sectors of trade and industry, there is a need to take measures on an emergency basis in the context of the current economic situation. In the letter, Shabbir Mansha said that despite informing the State Bank of non-availability of imported goods at various times, nothing was done.
In the letter, it has been said that exchange companies should be allowed to import by buying dollars, importers will be able to clear their imported goods by buying dollars from exchange companies.
The letter said that all types of payments for imports should be extended from 180 to 365 days, the facility of open account for imported raw materials should be restored. The letter proposes to do away with the requirement of banking financial instruments to automatically manage dollars for imported goods.
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