Non-Release Containers (Traders Protest Outside Of SBP)
KARACHI: Since there isn’t enough foreign currency in the country, traders in Shahr Quaid took to the streets and demonstrated outside the State Bank.
A shutter-down strike was organised in response to the Karachi Wood Merchants Group’s plea against the banks’ refusal to accept remittance acceptance papers and letter of credit (LC) As a result, all businesses in the timber market were shuttered.
According to Sharjeel Gopalani, head of the All City Traders Union and All Pakistan Timber Traders Association, 700 containers of wood have been sitting in ports awaiting clearance for 45 days, while another 2000 are travelling by sea and are about to arrive in Pakistan. In protest, 1600 stores have been shut down.
Timber market traders took out a protest rally. The participants chanted slogans Save Timber Trade, and give Dollars. They were carrying banners of traders and saving the economy. Due to the protest rally, there was a heavy traffic jam.
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The protesters also closed the branches of various banks established in the market and locked up the managers of 16 banks in the area.
He said that the month of Ramadan is coming, there is a risk of crisis, the prices of pulses are likely to reach 500 rupees per kg, the containers standing at our port should be cleared, we will not order pulses, the government should import pulses itself, our containers should be cleared.
