'Foreign shipping lines may halt Pakistan operations'

'Foreign shipping lines may halt Pakistan operations'

ISLAMABAD (Web Desk) - The Pakistan Ship’s Agents Association (PSAA) has warned of severe disruption in transporttaion of export cargoes as foreign shipping lines are considering stopping their services for Pakistan due to lack of dollars availability in the country.

The association argues that the banks have stopped remitting freight charges to them for lack of dollar availability.

In a letter written to finance minister Ishaq Dar, the association s chairman Abdul Rauf warned that 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.

It has been further warned that if the international trade is halted the economic situation will worsen. The foreign shipping lines are already considering winding up their services in Pakistan owing to reduced cargo volumes.

The letter hve also been written letters to State Bank of Pakistan Governor Jameel Ahmed, Commerce Minister Syed Naveed Namar and Maritime Affairs Minister Faisal Sabzwari.

The association has requested the ministries and departments concerned to intervene to ensure continuity in Pakistan’s seaborne trade by allowing outward remittance of surplus freight amounts to respective foreign shipping lines forthwith.