SBP circular about exports to Central Asia criticised

QUETTA: President of the Balochistan Chamber of Commerce and Industry Abdul Samad Musakhail has criticised the State Bank of Pakistan (SBP) for issuing a circular about exports to Central Asian states without taking importers and exporters into confidence.

Mr Musakhail termed the July 2 decision of the SBP damaging for import to and export from Balochistan and demanded its immediate withdrawal.

“Cash counter table currencies will not be acceptable under the circular. This decision has raised fears that the exports from Balochistan to Central Asian states will end,” he said.

Freight vehicles, including those carrying rice and mangoes consignments, were stuck at border, he said. “We urge the SBP to withdraw the circular so that exports from Balochis­tan to Central Asian states continue,” he added.

Mr Musakhail lamented the order issued on ‘export to Afghanistan against settlement in counter table currencies’ and said exporters of Balochistan would face difficulties in case of suspension of e-form. He expressed surprise over submission of documents even before exports were made.