Pak oil refineries' shutdown; foreign banks refuse to confirm letters of credit
Updated on Jun 23, 2022 08:18 AM IST
Amid an acute shortage of petroleum products, refineries in Pakistan have urged the federal government to take urgent steps to resolve this issue as a trade credit crisis would completely engulf oil marketing companies too after refineries. Foreign banks are still not confirming local refineries' letters of credit (LCs) for crude oil imports. Watch the video for more.