Exports have also been hurt by a lack of dollars, and some foreign shipping companies are thinking about stopping their business in Pakistan.
According to news reports, shipping companies are contemplating suspending services due to unpaid freight charges and a significant drop in cargo volume. The Pakistan Shipping Agents Association has notified the government of a potential situation.
The Shipping Agents Association stated in a letter sent to the relevant ministries and the State Bank that Pakistan’s exports cannot continue due to the suspension of services by foreign shipping companies. The Pakistan Shipping Agents Association has appealed in a letter to Commerce Minister Naveed Qamar, Ports and Shipping Minister Faisal Sabzwari, and State Bank Governor to ensure payment of freight charges to the relevant ministries and State Bank shipping firms. If you do not play your part, there is a risk that the economic situation will worsen due to a halt in exports.
Almost all international logistics from Pakistan are sent by sea, except for the border countries. If the flow of international trade from Pakistan stops, the economic situation will worsen. It should be noted that 5 billion dollars are paid annually to foreign shipping companies in terms of freight.