Traders stage a protest outside SBP against non-clearance of containers

Traders of Karachi came out on the streets and protested outside the State Bank of Pakistan (SBP) on Thursday against the non-clearance of containers and embargo on letters of credit (LCs) due to a lack of foreign exchange in the country.

On the appeal of Karachi Timber Merchants Group (KTMG) against the non-acceptance of remittance documents and LCs by banks, a shutter-down strike was conducted in which all shops in the city’s timber market remained closed. Chairman of All City Traders Union (ACTU) and All Pakistan Timber Traders Association (APTA) Sharjeel Gopalani said that 700 containers of wood are waiting for clearance at the port for 45 days.