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Business & Finance

‘CPEC offers huge opportunity to local logistic companies’

  • TCS CEO says government working with private sector to enhance logistic network
Published July 21, 2022
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KARACHI: The China-Pakistan Economic Corridor (CPEC) offers a huge business opportunity to Pakistan’s logistic companies in the areas of truck operations. Speaking to the media roundtable on Wednesday, Haris Jamali CEO TCS Private Limited has said the government is working along with the private sector to enhance the logistic network via road links among the regional countries to tap into the potential of the CPEC with the Central Asian Countries.

He said that CPEC offered a huge business opportunity to Pakistan’s logistic companies with the focus to provide them access to Central Asian countries till Uzbekistan hence the policy framework is being finalized to kick start the operations of enhancing connectivity within the region.

Haris further pointed out that various pilot projects of cargo transportation have been completed successfully between Pakistan and Uzbekistan with private companies including TCS Pvt. Ltd.

Pakistan needs to focus on the protection of local players to open the borders with Uzbekistan keeping in mind the trade balance which should maintain a surplus in values to contribute positively to the economy, he added.

Speaking to the media about the courier’s business countrywide, he said with the growing e-commerce business, the business of the courier may grow at the rate of 5-6% per annum despite issues and challenges to the economy.

“We are working closely with our international partner to provide them with speedy logistic services in different countries to enhance the export volume of the country in different sectors including Daraz and Alibaba”, he mentioned. In this regard, he said that there are multiple challenges to streamlining logistic channels in Pakistan with different countries which may take time to proceed but it will ultimately enhance the reach of Pakistan brands and products in different countries.

CEO TCS said that the cost of operations of the logistics operators increased by 50 percent due to the increasing prices of petroleum products in the country but the companies did pass on the prices by 3-4 percent at a local level.

He said that being the largest market player in Pakistan, TCS is introducing innovations and environment-friendly business practices which will include the use of electric bikes and vehicles, the launch of drones, and the utilization of digital channels and means to reduce the use of papers in the operations.

Copyright Business Recorder, 2022

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