KARACHI: The federal government has been forewarned by the Air Cargo Agents Association of Pakistan (ACAAP) that all air export cargo services may cease operations because “banks stopped remitting freight charges to international airlines amid dollar scarcity in the last three months.”
According to details, the Air Cargo Agents Association Pakistan (ACAAP) penned down a letter to Ministers for Aviation and Finance and Governor State Bank of Pakistan (SBP), warning that all export cargoes by air could come to a halt.
The group stated in the letter that after banks for three months denied remitting freight costs to them due to a “dollar scarcity,” foreign airlines were considering terminating their services for Pakistan.
These foreign airlines transport more than 85% of export cargo to all overseas destinations as a result of the embargo on the national carrier, Pakistan International Airline (PIA), and they bring in millions of dollars for the state coffers.
The ACAAP cautioned that major problems could arise for Pakistan’s international trade if foreign airlines stopped providing services to the country.
“If the international trade is stopped, the economic situation will worsen,” the association warned, urging the government to issue orders for immediate supply of dollars for air cargo services.