Another crisis deepens on poor Pakistan, this is how international business can be affected
Pakistan is going through a phase of poverty. There is not even flour to eat. There are battles for bread. In the midst of all this, another crisis has deepened on Pakistan. The Pakistani government has been warned by shipping agents that all export cargo may stop, as foreign shipping lines are considering halting their services to the country. These agents say that banks have stopped giving them even the amount of freight due to the shortage of dollars. That’s why this problem is getting deeper.
Pakistan Ship Agents Association (PSAA) President Abdul Rauf has warned Finance Minister Ishaq Dar that almost all international logistics from Pakistan, except for neighboring countries bordering Pakistan, are handled by sea. Any disruption in such a situation can create serious problems for the country’s international trade. PSAA president has also written a letter to this effect to the government.
Economic situation will worsen if international trade stops
The association warned that the economic situation would worsen if international trade was stopped. According to Pakistani newspaper Dawn, the PSAA president has also written letters to State Bank of Pakistan (SBP) Governor Jameel Ahmed, Commerce Minister Syed Naveed Namar and Maritime Affairs Minister Faisal Sabzwari. But at present no hearing is taking place.
Rauf requested the concerned ministries and departments to intervene to ensure continuity in Pakistan’s maritime trade by allowing outward remittance of additional freight amount to the concerned foreign shipping lines.
