President Sialkot Chamber of Commerce and Industry Muhammad Ashraf Malik lauded the role of PM’s Adviser for Commerce, Textile and Industry Abdul Razak Dawood for leading the export sector of Pakistan during the global pandemic of COVID-19.
In a statement here on Sunday, he said that the tough time demanded extreme and innovative measures for which the business community of Sialkot was thankful to the Ministry of Commerce for realizing the gravity of the situation and made arrangements for opening of factories to resume exports.
He added that the prevailing pandemic had greater impacts on the national economy and the exports of the country than expected as the whole supply chain has been disrupted.
He said those exporters who had confirmed orders were facing troubles in dispatching their consignments due to freight rates that had skyrocketed since the implementation of nationwide lockdown.
The SCCI President highlighted that the Industry was confronting with sharp increase of 400 percent to 500 percent in oceanic and airfreight rates that had caused troubles for the exporters who had previously settled the payment terms with their clients.
Ashraf urged that the government should provide freight subsidy amidst the pandemic to the entire export sector of the country. He added that in the prevailing situation, the only solution to protect the sector was a freight subsidy, like previously it was given to the Industry in 2003.
The SCCI President urged upon the Government to come forward and support exporter community for securing export business in hand and to avoid financial losses.