Pakistan eyes to localize freight industry

In line of austerity measures proposed by the newly elected government of Pakistan Tehrik-e-Insaf (PTI), Pakistan eyes to drop its reliance on foreign shipping companies, costing billions of dollars t the exchequer.

“Pakistan is currently paying this amount to foreign shipping companies for transportation of around 85 percent of inbound and outbound cargo from the country’s harbors,” said Aasim A Siddiqui, Chairman of All Pakistan Shipping Association (APSA), quoted Arab News.

Pakistan pays about $2.5 billion to shipping companies for transporting its imports and exports, informed the report.

The APSA chief informed that the government is considering different approaches to reduce the freight bill i.e. allowing private sectors to charter vessels with local crew. “At present, the foreign vessels are chartered with foreign crew and they are paid in dollars which adds additional pressure on the already depleting foreign exchange reserves,” Siddiqui said.

Prime Minister Imran Khan on Sunday said his government was determined to change governance in the country while focusing on austerity, anti-corruption & meritocracy. On his twitter account, the prime minister said that priority must be given to achieving our 100-day programme.

The PM further informed that he also met with ex-IG Nasir Durrani who had initiated the police reforms agenda in KP. He is heading the police reforms task force in Punjab and was told that his first priority must be to depoliticise the Punjab police force.