Pakistan Textile Exporters Association (PTEA) has expressed grave concern over seizing of export containers en-route to and from Karachi Port by the police and other agencies in Punjab. This has put billions of rupees export orders on stake.
Commenting over the prevailing situation, Chairman PTEA Ajmal Farooq said that huge foreign orders were feared to be cancelled due to the seizing of export containers in different areas of Punjab, which would not only result in huge losses to the exporters but also to the national exchequer.
He said 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, resulting in the vessel sailing away without the consignment. "This would lead to great loss to the exporters fearing cancellation of vital orders as the goods are not reaching the ports. Country's exports are already on continuous decline; whereas economy relies heavily on textile exports and a crisis like situation is posing serious threat to the viability of the industry.
The industry is not able to meet international commitments in time and this failure will lead to disputes, loss of valued customers, loss of market share as well as damaging Pakistan's reputation as a reliable supplier," he said. Ajmal Farooq said seizing of export containers was not only hurting shipments of export consignments but also disturbing import business as industrial units would not receive raw materials and fuel to produce export goods, resulting in heavy financial loss. PTEA urged the government to intervene immediately and ensure the movement of export containers to and from Karachi Port and also direct the concerned authorities to release the seized export containers.