KARACHI: Despite stronger dollar inflows this fiscal year, importers are struggling to access foreign currency, with prices rising beyond official rates, banking industry sources said on Wednesday.

According to bankers, only 20 to 30 per cent of importers are currently able to get permission to buy dollars for import payments. This comes even as the State Bank of Pakistan (SBP) maintains there are no formal restrictions on imports.

Official trade data for May show an 8pc decline in imports and a 23pc reduction in the trade deficit on a month-on-month basis.

“Banks have been told to arrange dollars for imports, which is a difficult solution. Some banks are facing a tough situation,” said Atif Ahmed, a currency dealer in the........

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