Shipping fares record manifold increase

By: News Desk      Published: 01:21 PM, 5 Jan, 2021
Shipping fares record manifold increase
Representative image.

Coronavirus has hit the country in February last year and impacted almost every sector of the economy with the shipping industry was now reeling from its effects, reported 24NewsHD TV channel on Tuesday.

The shipping fares have increased manifold denting the operational activities of the shipping companies.

The cost of importing a 40-foot container from China has increased from $1,200 to $4,500 and due to a shortage of steel, prices have gone up by Rs50,000 and reached Rs130,000 per tonne.

The TV channel reported that Lahore Chambers of Commerce and Industry (LCCI) Senior Vice-President Nasir Hameed Khan said the export of steel, aluminium and copper has been continuing without meeting the national demand. 

Nasir Hameed Khan demanded, “Pakistan’s copper, aluminum and steel demand should be met first and permission should be granted after meeting the local demands.”

“Export duty should be imposed on import of copper and aluminium,” Nasir Hameed Khan further added.

On the other hand, Federal Information and Broadcasting Minister Shibli Faraz last week said that due to well-thought-out policies of the federal government, Pakistan was included in the countries which responded wisely and successfully to the Covid-19 pandemic.

He said Pakistan kept the health and livelihood of the people and economy of the country on top priority while handling the coronavirus crisis.

He was speaking as the chief guest at the concluding plenary session of 23rd Sustainable Development Conference on ‘Sustainable development in the times of Covid-19’, organised by the Sustainable Development Policy Institute.