Karachi, May 29, 2015 (PPI-OT): The Union of Small and Medium Enterprises ( UNISAME ) has invited the attention of the State Bank of Pakistan (SBP ) to the difficulties faced by exporters who exported goods to Yemen under confirmed orders and request facilities for alternative disposal.
President UNISAME Zulfikar Thaver said the cargo for destination port of Aden was off loaded at the nearby port of Djibouti due to non functioning of Aden port. However since the letter of credit was from the opening bank in Yemen, the negotiating banks dispatched the original documents to the opening bank in Yemen.
He said in the meantime there was warfare in Yemen and the port closed compelling the vessels to divert to nearby ports. Thaver has urged the SBP to take cognisance of the fact and facilitate those exporters who desire to call back the goods and save them from losses.
He invited the attention of the SBP to the extraordinary demands of the negotiating banks asking exporters to return the value of the bills discounted by them. Moreover the shipping companies are asking for double the amount of guarantees. The exporters are not in a position to return the amounts and need time to time to arrange disposal of the cargo and minimize the losses.
Thaver complained and requested intervention by SBP to direct the commercial banks to cooperate with the exporters and enable and facilitate the exporters to call back the goods and give them sufficient time to change the packing and re-export the goods without charging them mark up and also not burdening them to provide guarantees to the shipping companies.
He pointed out that since this is an unforeseen incident and no mistake of the shippers the exporters need to be facilitated to overcome the predicament without any penal interest and all mark up must be waived.
For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Cell: +92-300-8245307, +92-321-8245307