Relaxation for importers urged

KARACHI: Pakistan Chemicals and Dyes Manufacturers Association (PCDMA) has appealed to State Bank of Pakistan Governor Reza Baqir to give relaxation to importers for the payment of their documents of imports against letter of credits and collection in their banks, a statement said on Saturday.

PCDMA Chairman Amin Yousuf Balgamwala appreciated the central bank’s initiative of the refinance scheme for businesses nationwide to assist them in the payment of wages and salaries to their workers and employees.

Owing to COVID-19 pandemic, PCDMA members are facing liquidity crunch due to shutdown of economic activities, he said.