Pakistan Economy: Foreign shipping lines may stop services for cash-strapped Pakistan

Foreign shipping lines may stop services for cash-strapped Pakistan: Report


Islamabad : 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.

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