Saturday, December 2, 2023

Air Cargo Services May Come to Halt Over “Dollar Shortage”

The Air Cargo Agents Association Pakistan (ACAAP) has warned the government that all air cargo exports could be halted because “banks stopped remitting freight charges to foreign airlines over dollar shortage for three months,” according to sources.

According to details, the Air Cargo Agents Association Pakistan (ACAAP) penned a letter to the Ministers of Aviation and Finance and the Governor of the State Bank of Pakistan (SBP), warning that all export cargo by air could come to a halt.

In the letter, the association noted that foreign airlines were considering stopping their services for Pakistan after banks stopped remitting freight charges to them over a “dollar shortage” for three months.

Due to a ban on the national carrier, Pakistan International Airline (PIA), these foreign airlines uplift more than 85 percent of export cargo to all international destinations and contribute millions of dollars in earnings to the national exchequer.

The ACAAP warned that if foreign airlines stopped serving Pakistan, serious issues could be created for the country‚Äôs international trade. “If the international trade is stopped, the economic situation will worsen,” the association warned, urging the government to issue orders for the immediate supply of dollars for air cargo services.

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