It is reported that Pakistan's economic crisis is worsening due to insufficient foreign exchange reserves.

Many foreign traders in Pakistan market have recently encountered the same situation: the buyer said that the bank has no dollars and can only do L/C 180 days.

Because banks are restricted from opening letters of credit for importers, buyers can't get dollars to pay for the goods, and a large number of containers full of imported goods are piled up in the country's ports.

Facing the challenging market environment, Pakistan Shipping Agents Association (PSAA) recently warned that the shipping companies represented by PSAA will consider suspending their services to overseas countries.

Concerned about the rapidly escalating situation, Pakistan Shipping Agents Association (PSAA) issued a notice to the country's national bank and government leaders, warning that the shipping companies represented by them would consider suspending the country's overseas services if they did not take immediate action to alleviate the crisis. The association pointed out: "If international trade is suspended, the country's economic situation will deteriorate."

Some airlines and associations of foreign companies also said that the control measures implemented to protect the dwindling foreign exchange reserves prevented them from repatriating US dollars. The person in charge said that factories such as textile manufacturers are closing or shortening their business hours to save energy and resources.