KARACHI - The Union of Small and Medium Enterprises (Unisame) has appreciated the decision of finance ministry to disallow export trade in rupee with Afghanistan and urged the finance ministry to also disallow imports payments facility for Afghanistan traders from Pakistan.

President Unisame said the ministry and State Bank of Pakistan (SBP) have taken the right decision in demanding export bills payments from Afghanistan in foreign currency rather than rupees as it was proving burdensome on Pakistan’s reserves.

He said it would be proper to impose restrictions on Afghan traders who for their imports are buying foreign currency from Pakistan open market and transferring funds to pay their import bills.

Import letter of credits are being established in favour of overseas exporters from Pakistan and dollars are being purchased from open market for payments to foreign exporters from different channels. Undisclosed money is utilised for payments of imports and this is causing heavy demand for dollars.

Thaver urged the ministry of finance to restrict imports with official disclosed book money and instruct the banks and the custom authorities to verify the money invested in imports.