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Pakistan may face shortage of x-ray films, warns importer

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2 years ago

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  • Forex crisis worsens in Pakistan.
  • X-ray films importer says banks not opening LCs.
  • Industry has only 20-30 days of stock x-ray films.

KARACHI: A healthcare crisis may take ground in Pakistan as commercial banks are unable to open the letters of credit (LCs) for the import of x-ray films in future — which are used on a daily basis for nearly every medical diagnosis — The News reported on Thursday, quoting an industry insider.

Limited stock of the remaining films strengthens the assumption of a healthcare crisis looming in the near future as these are used for computed tomography (CT) and magnetic resonance imaging (MRI) scans, according to an official from Fujifilm Pakistan, a major supplier of medical x-ray films in the country

“The industry has only 20-30 days of stocks and after that, hospitals will run short of films and diagnoses will be impossible then,” he said.

“Around a month’s stock was stuck at the ports or high seas, which should be cleared at the earliest,” he added.

The official also explained that “medical x-ray films have a yearly import requirement of $20 million or $1.6 million in a month, and urged the government to take measures before the situation gets worst.”

He further mentioned: “Govt hospitals are now asking for the supply of stocks. Our suppliers are ready with the stocks but waiting for LCs to ship the orders.”

While expressing his serious concern over the possible shortages, he said “the situation could lead to smuggling that would rob the government of taxes.” 

“The government is losing revenue of approximately $550,000 per month,” he was quoted as saying. 

The source maintained that a “minimum of $1 million in LCs was required every month to keep the hospitals running.”

X-ray films are used in pinpointing physical injuries among other important diagnoses and such as bone fractures, and chest x-rays for pneumonia or COVID. In operation theatres, the films are used to determine the scope of an operation.

The estimated size of the x-ray market is around 3,500,000 square meters, which translates to almost 100,000 exposures in a day in hospitals across the country.

There are approximately 7,500 govt and private hospitals and clinics in Pakistan, and the entire requirement of medical x-ray films is imported from Europe, Japan, the USA, and China.

The current economic condition of Pakistan, marred by drying foreign reserves, forced banks to be selective in opening LCs even for sectors such as healthcare.

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In interbank trade, the Pakistani rupee beats the US dollar.

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6 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Business

Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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1 week ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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The inflation rate in Pakistan dropped to its lowest level.

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1 week ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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