A port strike in Pakistan threatens to cause cancellation of vital export orders. Export orders running into huge amounts are at stake. Carriers and other freight-loaded ships anchored at the terminal have not been offloaded owing to the strike.
The industry has not been able to meet 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.
The strike comes at a moment when Pakistan’s industrial production and exports are registering a positive growth. Blockage of export goods would hurt the growth pace. Given the trade deficit and the national debt, the economy can hardly bear such delays in trade activities.
If the situation continues, the industry fears production activities will reduce further. The port strike is not only hurting shipments of export consignments but importers too. They are forced to pay demurrages for not clearing their consignments from the ports. Also industrial units are not receiving raw materials.
If the issue is not resolved, exporters fear facing huge financial losses and also losing their hard earned export contracts. Cancellation of vital export orders would in huge losses not only to exporters but also to the national exchequer.
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