Karachi: Chairman Pakistan Soap Manufacturers Association (PSMA) Syed Anwer Suhail Razvi expressed concern over worst financial crisis, with which entire economy of country in grip as Letters of Credit and retirement of documents is not being honoured by all commercial banks, causing rapid deteriorating stock availabilities. If such situation prevails further, there will be an acute shortage of basic commodities very soon in entire country. He said that it is Pakistan’s one of oldest and well-established trade associations, which represents Pakistan’s leading FMCG companies engaged in manufacturing of various international and local brands of anti-bacterial and beauty soaps, hygiene and allied products.

He informed that soap industry is playing its parts in exports. There has been substantial surge in exports of soap and allied products during year 2022.

In view of facts, we strongly urge Finance Minister and Governor State Bank to please intervene in situation and extend maximum possible support for import of basic oils/oil derivatives: Palm Stearin HS Code 1511.9010 (Monthly Demand is 12,000 MT) and Lauric Acid HS Code 2915.9000 (Monthly Demand 1,500 MT) both cost $ 12-15 million.

Published in The Daily National Courier, January, 18 2023

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