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Foreign orders on stake due to goods transporters’ strike

Foreign orders on stake due to goods transporters’ strike

FAISALABAD: Pakistan Textile Exporters Association Chairman Sheikh Ilyas Mahmood and Vice Chairman Adil Tahir have warned that export activities will completely be halted due to goods transporters’ strike.

While talking to the media, they said that export orders worth billions of rupees are on stake and huge foreign orders are feared to be cancelled, which would not only result in huge losses to the exporters, but also to the national exchequer.

The strike would cripple exports, which are the lifeline and backbone of the country’s economy, they said, adding that a large number of export shipments ready to be shipped as per the deadline given by the foreign buyers, would not reach the ports in time.

“If the strike prolongs further, this would lead to great loss to the exporters, fearing cancellation of vital orders,” they warned.

Ilyas Mahmood was of the view that textile industry is already facing unprecedented energy crisis, as there is acute load shedding of electricity and there is a threat of complete shutdown of gas supply to industries in coming days.

Over 50 percent production capacity has already become redundant and massive lay off is underway, he said, adding that national economy relies heavily on textile exports and a crisis like situation is posing serious threat to the viability of the industry.

Adil Tahir said goods transport carriers strike would not only hurt shipments of export consignments but would also disturb import business as importers would be forced to pay demurrages for not clearing their consignments from the ports.