A Karachi trader protests while sitting in a local Bank against the Bank and the State Bank of Pakistan (SBP) against the non-clearance of containers and embargo on letters of credit (LCs) due to a lack of foreign exchange.
Last Thursday, the Karachi Timber Merchants Group (KTMG) organized a shutter-down strike in the city’s timber market to protest banks’ refusal to accept remittance documents and LCs.
Sharjeel Gopalani, chairman of ACTU and APTA, said 700 wood containers have been waiting 45 days for port clearance.
The traders protested chamber officials outside the Karachi Chamber. The traders staged a sit-in outside the SBP to protest its actions, causing a traffic jam on II Chundrigar Road.