No services if charges not paid, foreign shipping agents warn cash-strapped Pakistan
Islamabad, January 21
Shipping agents have warned the cash-strapped Pakistan government that all exports could come to a halt as foreign shipping lines are considering stopping their services for the country after banks stopped remitting freight charges to them due to a lack of dollar availability, according to a media report on Saturday.
Apart from bordering countries, almost all the international logistics from Pakistan are catered by sea and any disruption could create serious issues for the country’s international trade, Pakistan Ship’s Agents Association (PSAA) chairman Abdul Rauf warned Finance Minister Ishaq Dar through a letter.
“If the international trade is stopped the economic situation will worsen,” the association warned, adding that the foreign shipping lines are already considering winding up their services in Pakistan due to reduced cargo volumes.
The PSAA chairman also wrote letters to State Bank of Pakistan (SBP) Governor Jameel Ahmed, Commerce Minister Syed Naveed Namar, and Maritime Affairs Minister Faisal Sabzwari, the Dawn newspaper reported. — PTI
Banks running out of dollars
- Banks stopped remitting freight charges due to a lack of dollar availability, as per official reports
- All international logistics from Pakistan catered by sea, disruptions could create serious issues
