On Sunday, Federal Commerce Minister, Syed Naveed Qamar met the governor of the State Bank of Pakistan to discuss financial matters.
Naveed Qamar discussed the economic issues regarding the stuck-up consignments, the opening of Letters of Credit (LCs), and issues faced by business communities.
Useful meeting today with governor state bank and his team regarding problems of exporters. Decision in principle to give priority to exporters in imports, LCs etc pic.twitter.com/kNGEAgdAKH
— Syed Naveed Qamar (@naveedqamarmna) December 19, 2022
Governor of the State Bank of Pakistan, Jameel Ahmad assured the Federal Commerce Minister that State Bank will try to resolve all the issues and facilitate programs that will help with the trade and business communities.
Jameel Ahmad further mentioned that ongoing problems are due to the changed regulatory framework of foreign exchange.
Both the finance minister and SBP governor agreed to work together in close coordination to implement measures that will facilitate the economy and solve issues regarding stuck-up consignments at Karachi port.
State Bank Governor stated that the consignments got stuck because of non-compliance with policies, and also due to floods in Sindh and Baluchistan that slowed down the process.