Traders protest outside SBP against non-clearance of containers.

KARACHI -- Traders of Karachi came out on the streets and protested outside the State Bank of Pakistan (SBP) on Thursday against the non-clearance of containers and embargo on letters of credit (LCs) due to a lack of foreign exchange in the country.

On the appeal of Karachi Timber Merchants Group (KTMG) against the non-acceptance of remittance documents and LCs by banks, a shutter-down strike was conducted in which all shops in the city's timber market remained closed.

Chairman of All City Traders Union (ACTU) and All Pakistan Timber Traders Association (APTA) Sharjeel Gopalani said that 700 containers of wood are waiting for clearance at the port for 45 days.

'Another 2,000 containers are on the sea route and are about to reach Pakistan,' added Gopalani.

During the shutter-down strike, traders protested in a form of a rally in which the participants chanted the slogans 'save timber trade' and 'give dollars'.

Moreover, the protesters also closed the branches of various banks established in the market. As a result of the protest, traffic remained disrupted in the area.

The traders also protested outside the Karachi Chamber against the chamber officials. Upon reaching the SBP, the traders staged a sit-in outside the bank against its actions which resulted in a traffic jam at the II Chundrigar Road.

During the protest, Gopalani...