SBP seeks details for clearance of stuck-up containers

By Muhammad JuniadPublished On 20 Jan 2023

KARACHI: The State Bank of Pakistan (SBP) has sought details of stuck-up imported containers at the ports.

The development follows a meeting held with the Governor State Bank of Pakistan (SBP) Jameel Ahmed at the Karachi Chamber of Commerce & Industry (KCCI).

The Karachi Chamber has requested members of the Business & Industrial Community to provide all the required details to KCCI through an online e-form, the statement released by the chamber said.

According to a statement issued, all the data collected will subsequently be forwarded to SBP so that the stuck-up containers could be released at the earliest possible time.

Thousands of containers packed with essential food items, raw materials and medical equipment have been held up at Karachi port as the country grapples with a desperate foreign exchange crisis.

A shortage of crucial dollars has left banks refusing to issue new letters of credit for importers, hitting an economy already squeezed by soaring inflation and lackluster growth.