The escalating crisis in the Middle East has compelled shipping lines to suspend vessel movements, leaving a large number of containers laden with export goods stranded at the country’s ports and exposing Pakistani exporters to severe financial losses.
Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Saquib Fayaz Magoon, explained today that despite exporters fulfilling their obligations of delivering consignments to the port on time, terminal authorities are now instructing them to take back the containers due to the halt in shipping operations. He said that the heavy costs associated with returning the goods to factories and then transporting them back to the port will lead to severe financial damage.
In response to this extraordinary situation, Mr. Magoon has formally requested government intervention, demanding a special 30-day grace period at the ports and a complete waiver of all demurrage and detention fees to protect exporters from devastating economic loss.
The senior FPCCI official further explained that the tense regional situation has prevented numerous cargo vessels from docking at Pakistani ports, while ships that were ready for departure are now avoiding travel towards Gulf countries, further exacerbating the issue of stranded export containers.
Speaking with Rafique Suleman, convener of the Standing Committee of Rice Exporters, Mr. Magoon highlighted the severe impact on rice exporters. He pointed out that the profit margin in the rice trade is already very low, and the additional costs of unloading containers and moving them back to warehouses will turn potential profits into major losses.
He urged the government to take immediate emergency measures to support the export sector, describing such support as indispensable for the national economy in the current difficult circumstances.