Goods transport strike hits export trade - Pakistan News Digest

Goods transport strike hits export trade

Karachi: The goods transport carriers’ strike has completely halted the export and import activities and also damaging the industrial manufacturing capacity of the country resulting in per day loss of around Rs.3.6 billion to the foreign exchange earnings through exports of textile products only.

M. Yasin Siddik, Chairman, All Pakistan Textile Mills Association Sindh-Balochistan Region in a statement issued to the press said that the goods transport carriers strike which has entered into ninth day has ceased business activities as the goods are not reaching the ports due to which the country has suffered loss of exports of US Dollars 600 million so far.

The goods transport carriers strike has not only hurt shipments of export consignments but also damaged import business as importers are forced to pay demurrages for not being able to clear their consignments from the ports and also affecting manufacturing activity as industrial units are not receiving their raw materials and fuel to run their mills resulting in a loss of over Rs.3.5 billion per day.

He further said if the strike is not called off without any delay the exporters will have to face huge financial losses for shipping their goods by air to fulfil their commitments or lose their hard earned export contracts.

Yasin Siddik said that our members have made international commitments and failure to perform will lead to disputes, loss of valued customers, loss of market share as well as damaging Pakistan’s reputation as a reliable supplier.

He urged upon the government to find out workable solution and play a positive role to end the strike so that the business activities should start immediately without any further loss of time and foreign exchange earning.

   

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