In a worrying situation, SBP faces severe dollar crunch

In a worrying situation, SBP faces severe dollar crunch

Importers are extremely concerned as the State Bank of Pakistan is facing asevere shortage of dollars.

An important meeting of big importers was held today which was presidedover by Lahore Chamber of Commerce Executive Committee member Ijaz Tanveer.

Importers gave a solution to the current crisis to the government as theyoffered to provide dollars to the State Bank by buying it from the openmarket.

Importing goods has become a headache for importers as the central bank isfacing a shortage of dollars. It has become hard for importers to maintainthe supply chain of businesses in various sectors.

Investors said that the State Bank is not opening the Letter of Creditworth more than 10,000 dollars. They said that more than 4,000 containersare stuck at ports and waiting for clearance.

These containers contain goods like branded garments, shoes, crockery, homeappliances, interior goods, baby foods and kitchen items.