Pakistan: Dollar crunch to force import suspension of eatables, drinks

Due to non-availability of dollars, commercial importers in Pakistan have announced to stop the import of all eatables and drinks from June 25, local media reported.

In a statement, Karachi Wholesale Grocers Association Secretary Farhat Siddique claimed that all banks have refused to provide them with dollars, Geo News reported.

In a detailed discussion, it has been decided that the importers will inform their indenters that no shipment should be dispatched after June 25.

Owing to the current situation, the importers will be responsible for the clearance of goods that have reached the port or are on the way and no shipment would be cleared that was dispatched after June 25.

Further, Karachi Wholesale Grocers Association stated that due to lack of foreign currency, thousands of containers are stuck at the port and they are paying fines and other charges on them, Geo News reported.

Making the situation worse, the State Bank of Pakistan (SBP) is not providing the much-needed foreign exchange and its policies are extremely harmful to the country’s economy, the statement said.

(With inputs from agencies)

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.