FPCCI for opening of agri inputs LCs.

LAHORE -- Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman Muhammad Nadeem Qureshi on Monday urged the government to ensure opening of letters of credit (LCs) of agricultural inputs for the sake of food security.

The SBP (State Bank of Pakistan) had directed the banks to prioritize imports of inputs for agriculture and others. The banks showed reluctance in opening of letters of credit for the import of necessities like agricultural inputs, he disclosed this in a media statement here.

FPCCI requested the authorities concerned to take immediate notice of the situation and direct the commercial banks to open LCs for agricultural inputs including pesticides and seed immediately. It would not only ensure country's food security but also prevent inflation likely to be caused due to shortage of wheat, rice, maize, fruit and vegetables, as a result of decline in their yield because of unavailability of agricultural inputs, especially seed and pesticides, he maintained.

Nadeem apprehended that any delay in the import of...