SBP to release stuck containers

KARACHI: The State Bank of Pakistan (SBP) has agreed to release the containers that had arrived at the city ports until July 5, 2022, but remained stuck up awaiting approval from the central bank, a statement said on Monday.

While referring to a message received from deputy governor SBP Dr. Inayat Hussain, Karachi Chamber of Commerce & Industry (KCCI) president Muhammad Idrees said the SBP assured that all the cases wherein the Bill of Lading was prior to issuance of SBP’s instructions on July 5, 2022, which have been submitted by KCCI, would be released within the next 2 to 3 days.

Any other pending request for release of similar stuck-up consignment might also be referred to the SBP for timely release, he added. Idrees hailed the relief provided to perturbed importers. He also thanked Finance Minister Miftah Ismail for taking interest in issues being raised by KCCI.

He was of the view that the step of releasing stuck up containers along with some other pro-business and the government’s efforts to resolve economic issues would contribute to spinning the wheel of the industry without any interruption.