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FAISALABAD, Feb 01 (APP):The Faisalabad Chamber of Commerce & Industry (FCCI) Thursday demanded remedial measures for export sector in order to continue national exports and maintain foreign exchange reserves.
Acting President FCCI Dr Sajjad Arshad expressed concerns over unprecedented increase in freight charges particularly for exports from Pakistan to Europe, and said that unsafe maritime routes and tension in the Red Sea had been reported as the root-cause of increase which had hit the vulnerable SME sector.
He said that the freight charges of a container which were $800 have now jumped to $4,000 completely disturbing the financial viability of the export commitments. He said that the SME sector was already braving the consequences of the global meltdown coupled with political instability and inconsistency of economic policies within the country.
He said that the government should take notice of this situation to ensure the continuity of exports in order to maintain the foreign exchange reserves.