RAWALPINDI:The Rawalpindi Chamber of Commerce and Industry (RCCI) Monday demanded that the State Bank of Pakistan(SBP) should open credit letters.
RCCI President Nadeem Rauf, in a statement, said that despite the lifting of the import ban, delay in the opening Letters of Credit (LCs) for the import of raw materials and spare parts was a matter of concern for traders.
He said that a large part of Pakistan’s exports depends on imports of raw materials or components, which run industries. The cost of production has already increased and was directly related to the country’s overall production, which needed to be addressed immediately.
The president appealed to the Governor SBP to take immediate notice of the situation and open LCs.