FPCCI for Waiver of demurrage on consignments

KARACHI: Shaheen Ilyas Sarwana, Acting President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has urged the Federal Finance Minister, Muhammad Ishaq Dar to waive-off the demurrage on consignments which could not be cleared from the ports within the prescribed time limit due to a 12-day long goods transporters strike.

Sarwana elaborated that strike inflicted irreparable losses, tangible and intangible, to the economy such as cancellation of export orders from the foreign buyers, expiry of letter of credits, jeopardizing the reputation and damaging the goodwill of the exporters in global market etc, due to non-transportation of export container from the up-country to the sea and dry ports well in time, particularly on the eve of Christmas and the new year in Europe and USA, the country’s two largest trading partners.

FPCCI Acting Chief argued that according to a conservative estimate, a loss worth Rs. 3 billion was incurred during the recently concluded transporters strike, out of which Rs. 770 Million demurrage accumulated during the period, without any fault on part of the traders.

Mr. Sarwana also appreciated the efforts made by the Federal Finance Minister and his team in calling-off the strike and holding successful dialogue with the stakeholders for this purpose. “This reflects his vision and positive attitude in resolving the issues and problems being faced by the trade & industry and removing the road blocks in smooth functioning of their business activities”, he added. He hoped that the government would adopt pre-emptive measures to avoid such type of incidences in future and keeping the wheel of the country’s economy moving uninterruptedly.

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