KARACHI: Pakistan Fruit and Vegetable Exporters (PFVE) claimed that the commercial banks were not clearing the documents of the shipments citing lack of foreign exchange.
Hundreds of containers of imported onion, ginger and garlic were stuck at the port of Karachi. Exporters say that 250 containers of onion, 104 of garlic and 63 of ginger are stuck with a total value of 5.5 million dollars.
PFVE claimed that the commercial banks are not clearing the documents of the shipments justifying the lack of foreign exchange, if the imported commodities do not reach the markets, their prices will increase further.
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In this regard, the Pakistan Fruit and Vegetable Association has written a letter to the Ministry of Commerce, demanding that the State Bank take immediate action.
To recall, the current data of the Sensitive Price Index (SPI) stated that the price of onion last week decreased by 2.79%, however at present, its price increased to Rs250-270 in the local market.
