Karachi (Commerce Desk): Chairman of the Pakistan Ships Agents Association, Muhammad A. Rajper, has written to the Federal Board of Revenue (FBR), urging urgent amendments in laws to transform Pakistan into a regional transshipment hub and capitalize on the current global situation.
The letter highlighted that tensions in the Middle East are affecting maritime trade, prompting several countries to seek safer alternative ports for their cargo. Muhammad A. Rajper pointed out that due to its strategic geographic location, Pakistan has the potential to become a key regional transshipment center and earn billions in foreign exchange.
However, under current regulations, transshipment cargo cannot be stored at off-dock terminals, and port-owned terminals have limited capacity, resulting in missed business opportunities.
The letter requested that the FBR immediately allow global cargo to be stored at off-dock terminals through an SRO.
Chairman Rajper emphasized that this move would not only reduce pressure on ports but also generate substantial foreign exchange and position Pakistan as a leading center for regional trade activities.
