Pakistan suffering from recession; Hundreds of containers full of vegetables stuck at Karachi port, traders upset

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According to the report, 0.6 million tonnes of soyabean is also stuck because the letter of credit is not being issued by the government. There is no dollar in the country and due to this the situation can go out of control. Due to this, importers will have to bear huge losses, which will also be difficult to recover. Due to limited letter of credit, these containers are being allowed to remain lying like this.

Onion containers are lying at various terminals of Karachi Port. Banks of the country are not able to issue letters of credit due to lack of foreign currency. Because of this, the containers are being allowed to remain lying like this. According to Waheen Ahmed, a member of the Pakistan Fruit and Vegetable Exporters Importers and Merchants Association (PFVA), the delay in issuing letters of credit is affecting the cost of containers, terminal and shipping charges will increase. Onion containers are already expensive and due to this a common man is going to be badly affected. Onion will be out of the reach of the common man.

He said that today onion is being sold at Rs 175 per kg in the wholesale market and Rs 250 to 270 per kg in the retail market. Onion prices will increase further due to delay in clearance. Vegetables will also be out of reach of the common man. Suleiman Chawla, the acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has also expressed concern over this. He has said that the common man is already unable to buy poultry and dairy products. A few days ago, there was some stability in the prices. But now these circumstances have raised concerns. According to him, imports are very expensive and terminal charges will also double. He has demanded the government to solve this issue expeditiously so that the deepening food crisis in the country can be avoided. Chawla also said that no licensing and genetic modification has ever been an issue with soybeans imported from the US. For the last several years, the same suppliers of the country are importing soybean.