EconomyQuick read

Strike halts trade at ports

The Express Tribune • • 1 min read

Strike halts trade at ports

The Express Tribune reported that a nationwide wheel-jam strike by transporters has almost halted freight handling at ports. Imported goods are stuck, and export orders face serious delays, according to a Friday statement from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). The chamber's president, Atif Ikram Sheikh, said the ten-day stoppage is causing heavy harm to the national economy.

According to the report, factories are either slowing output sharply or stopping production because raw materials are running short. Traders and manufacturers face rising demurrage and detention charges on containers that remain stranded, and missed export deadlines are damaging the reputation of Pakistani exporters abroad. FPCCI described the situation as a major economic obstacle for importers, exporters, traders and consumers.

The chamber urged authorities to weigh transporters' grievances and end the strike without delay, and asked the government, the maritime ministry, port bodies and terminal operators to fully waive demurrage and detention charges. Separately, the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) said exporters face unpredictable fuel prices, high power and gas tariffs, costly financing, delayed refunds and cargo disruption, and it pointed to the daily petroleum pricing system introduced recently.

At a glance

  • A ten-day transporters' wheel-jam strike has nearly halted freight handling at ports.
  • Factories are cutting output or stopping production because of raw material shortages.
  • FPCCI asked for a full exemption from demurrage and detention charges on stranded containers.
Sectors:TransportApparel

Originally reported by The Express Tribune

This page is Investify's own summary. The full report, with all details and context, is on the publisher's site.

Read the full story

Want the full article here?

Log in to read the full article in the Investify reader, in English or Urdu.

Investify summarizes Pakistan Stock Exchange news in its own words and links each story to its original publisher. We always credit the source so you can read the full report and verify the details before making financial decisions.

Built for PSX investors

Business news.Every filing, summarised.

Top stories from Pakistan's business press and key findings from every PSX announcement.

Investify announcement summary with key findings from a PSX filing
Investify app home screen with Pakistan business news and PSX filings