MONITORING DESK
ISLAMABAD: Hundreds of containers of imported onions, ginger and garlic have been stuck at the Karachi Port as the commercial banks failed to provide necessary documents required for clearance of the containers.
The commercial banks of the country have refused to provide documents for the clearance of import containers of onion, ginger and garlic, commercial banks are not clearing documents justifying the lack of foreign exchange.
Currently, 250 containers of onion, 104 containers of garlic and 63 containers of ginger are stuck at Karachi Port and Port Qasim and their total value is around 5.5 million dollars. If the imported onions, garlic and ginger stuck at the ports do not reach the markets, their prices will increase further.
Vegetables prices likely to increase
Importers said that the price of onion in the market is already 175 rupees per kg, if the containers are not released in time, there is a possibility of an increase in its wholesale price by 50 to 80 rupees per kg.
Pakistan Fruit and Vegetable Association (PFVA) sought help from the Federal Ministry of Commerce in view of the seriousness of the matter. In a letter to the Federal Ministry of Commerce, PFVA has asked the State Bank to ensure immediate steps to release the imported goods containers.
Commercial banks are not clearing the documents by justifying the lack of foreign exchange. Due to the non-supply of necessary documents by the banks, once again there is a fear of a shortage of onion, garlic and ginger in the country.
Commercial banks reluctant to issue clearance documents for imported Good’s
The commercial banks of the country have refused to provide documents for the clearance of import containers of onion, ginger and garlic, commercial banks are not clearing documents justifying the lack of foreign exchange.
Currently, 250 containers of onion, 104 containers of garlic and 63 containers of ginger are stuck at Karachi Port and Port Qasim and their total value is around 5.5 million dollars.
If the imported onions, garlic and ginger stuck at the ports do not reach the markets, their prices will increase further. Importers say that the price of onion in the market is already 175 rupees per kg, if the containers are not released in time, there is a possibility of an increase in its wholesale price by 50 to 80 rupees per kg.
Pakistan Fruit and Vegetable Association (PFVA) sought help from the Federal Ministry of Commerce in view of the seriousness of the matter. In a letter to the Federal Ministry of Commerce, PFVA has asked the State Bank to ensure immediate steps to release the containers.
