Karachi: Sohail Nisar senior Vice Chairman Pakistan Yarn Merchants Association (PYMA) expressing deep concern over not opening letters of credit (LCs) by banks despite clear instructions from State Bank of Pakistan demanded to release detained containers of polyester yarn (PY) at ports.

In an appeal to government, he said that large number of containers loaded with imported polyester yarn were stuck at ports and due to non-clearance of these containers, importers were facing serious financial losses due to heavy demurrage and detention. Textile industry, its production activities were suffering from severe disruption due to non-availability of basic raw material.

Published in The Daily National Courier, January, 13 2023

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