SMEs urged to remain cautious with Afghan transactions

Web DeskWeb Editor

12th Jul, 2021. 04:06 pm
SMEs urged to remain cautious with Afghan transactions

KARACHI: The Union of Small and Medium Enterprises (Unisame) has warned its Small and Medium Enterprises (SMEs) to remain cautious with the Afghan transactions in view of the prevailing political situation in major parts of that country.

Unisame president Zulfikar Thaver cautioned the SME exporters about the situation of Afghanistan, as almost 85 per cent Afghani territories has been taken over by the Taliban.

He said in such a situation the banks would not be able to transact remittances; therefore, it would be best to seek advance payments for orders.

The Afghanistan’s situation would prove tedious because of the fact that it was buying goods from Pakistan, and being a landlocked country, it is depending on Pakistan for its imports and exports, he said.

Afghanistan always used Pakistan for its smuggling and foreign currency purchases and burdened the country with foreign currency liabilities by placing import orders through Pakistan.

Thaver alerted all the SMEs dealing with Afghanistan to ensure security and not indulge in credit transactions and demand advance payments in dollars or Pakistani rupees, as the Afghan currency would lose value in view of the impact of takeover and fall of government on the economy.

“Nevertheless, we hope and wish best for our Afghan brothers and pray for the stability in Afghanistan and assure them of our cooperation, as always,” he added.

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