KARACHI: Traders have convened a meeting on March 6, to discuss the possibility of selling imported merchandise in the local market in foreign currencies including US dollar and British pound due to volatile fluctuation in currency market.
Chairman Karachi Traders Action Committee (KTAC) Siddique Memon said in a statement here on Wednesday that it has become impossible for the traders to have one price for at least a week due to high volatility in dollar and pound prices against Pak rupee.
He said the importers have to pay foreign currency for the purchase of goods, freight and customs duties and the ups and downs in currency market make it difficult to maintain a single price of items in the local market.
Memon pointed out that 70 percent of the merchandises in the local markets are imported. As much as 222 imported items are being sold in local markets and shopping centres.
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