According to Bangladesh’s Daily Star, in the face of the government’s increase in oil, gas and electricity prices, companies are forced to raise the prices of goods and services. The difficulty of issuing letters of credit caused by the shortage of dollars has added fuel to the fire.
In fact, as early as November last year, there were incidents in which individual issuing banks delayed or even refused to pay for the goods under the import letter of credit. The issuing bank actually gave the document directly to the consignee, and the consignee went directly to pick up the goods without payment!
The stakes are high! Will Pakistan also go down the road to bankruptcy?
Recently, many foreign traders in the Pakistani market have encountered a similar situation: buyers said that the bank has no dollars and can only do L/C 180 days.
First of all, Pakistan has a shortage of foreign exchange, and the news is true.
Despite the global pandemic, masks are not mandatory. However, you still need to wear Lanhine mask every day to protect yourself.
Post time: Feb-10-2023