FPCCI pens letter to Governor State Bank for opening of LCs

0
695
FPCCI pens letter to Governor State Bank for opening of LCs | Baaghi TV

ISLAMABAD: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has written a letter to the Governor of the State Bank of Pakistan requesting the opening of LCs (Letters of Credit) and clearance of raw materials. 

In the letter, it is said that an emergency meeting should be called to resolve the issue of clearance of imported raw materials.

According to Vice President FPCCI, Shabir Manshah, who wrote the letter, never in the country’s history has its economic situation been like this resulting in the FPCCI facing intense pressure from various traders and industries.

Federal Minister Shazia Marri condemns Israeli atrocities at Al-Aqsa

NSC resolves to launch comprehensive new operation against militants

Thirst trap queen Martha Stewart, 81, shares health and beauty secrets

2,856 Pakistani Visas Issued To Indian Sikh Pilgrims

In such economic conditions, important measures must be taken on an emergency basis. State Bank has been informing about the non-receipt of imported goods at different times but nothing has been done to rectify the situation, exchange companies should be allowed to buy dollars and import.

Girl Swallows Mobile Phone, Doctors Take It Out After Hour-Long Surgery

UNSC Holds Closed-Door Meeting Over Ban on Afghan Female UN Workers

ECP sets standards for international observers, media ahead of Punjab elections

Are Kylie Jenner and Timothée Chalamet Hollywood’s newest and hottest couple?

Importers will be able to clear the goods by purchasing dollars from exchange companies, all types of payment should be allowed within the limit of 180 to 365 days, and the facility of open accounts of imported raw materials should be restored. The letter adds that the condition of the banking financial instrument on self-management of imported goods should be removed, FPCCI is deeply concerned about the State Bank’s failure to take steps to deal with the current crisis.

Ben Affleck buddies up to Jennifer Garner’s ghost boyfriend

School-going children abducted in broad daylight, parents appeal for recovery

Hearing on Petition against Imran Khan, Bushra Bibi’s Nikah, adjourned 

PTI’s KP Social Media Operational Head resigns

Qatar set to host Web Summit in 2024

Stay tuned to Baaghi TV for more. Download our app for the latest news, updates & interesting content!

Leave a reply