Mansoor Sadiq

Taking notice of the problems faced by traders, industrialists and importers on account of import curbs, the government has announced that the demurrage and port charges of the shipping containers stranded at the Karachi Port and Port Qasim are waived off with immediate effect.

Following the restrictions of the State Bank of Pakistan (SBP) and shortage of dollars to issue LCs for imported items, it has been learnt that 8,000 shipping containers stand stuck at the KPT and Port Qasim for the last few months. Fearing shortage of basic life amenities in the country, the importers, traders and industrialists launched joint efforts for clearance of the stuck containers.

In a media briefing, Minister for Maritime Affairs Faisal Sabzwari said the issue of containers was being tackled. He said in view of rumours that some shipping lines had halted operations for Pakistan, the government decided to assist the traders and importers. Faisal said the shipping lines had promised to give a reasonable discount in the demurrage charges on the containers stuck at the Karachi Port and soon they would be moved to the off-dock terminals.

The minister clarified that no shipping lines were going to be closed in Pakistan, adding that the shipping lines did not shut down operations even in Sri Lanka during when it suffered a severe economic crisis. It is worth mentioning that Pakistan’s industrial and manufacturing sector has been facing  shutdown after import restrictions and closure of all leading manufacturing units and major industrial units on account of unavailability of raw material.

All leading industries in the country including pharmaceuticals, poultry, textiles, auto-industry, food and agriculture have been in crisis owing to import restrictions and dumping of shipping containers at the ports. Meanwhile, the SBP has also announced the clearance of the consignments at the ports and instructed banks to provide one-time facilitation to all importers who could arrange payments from abroad to settle payments of their imports.

In this regard, the central bank has advised banks to assist all those importers with one-time facility who managed to extend their payments for 180 days or could ensure payments from abroad about their pending import payments. With this initiative on part of the government, it seems, the thaw has set in and the containers laden with imported materials will begin to come out, said President of Islamabad Chambers of Commerce and Industries Ahsan Bakhtawari.

He said all chambers of commerce and industries were unitedly demanding the government settle the issues of business community with availability of raw materials. Lauding the SBP initiative, he said the commercial banks need to be monitored in view of one-time facility, adding that preference should be given to export-oriented industries and pharmaceutical sector to meet the domestic needs.

Credit : Independent News Pakistan-WealthPk