BY : Ateeq Ur Rehman.
The Transshipment boom at Pakistani ports, signals strong trade momentum. The strong trade flows with new tariffs incentives and expanded capacity, Pakistan is rapidly emerging as a competitive regional maritime hub amid Hormuz crisis. Pakistan’s ports are witnessing record cargo handling as Middle East tension disrupt shipping through the Strait of Hormuz with Global vessels rerouting themselves. Pakistan by maintaining this transshipment module can generate approximately additional USD 70 to 100 million per annum as revenue, provided it maintains and sustains the compliance.
To achieve the target, we have to be responsible player in international market by exercising long term business model by improving of infrastructure, ports and harbors, berths and cargo storage capacity. Also speedy cargo inspections by customs.
However, when we talk of surge of transshipment and cargo we are not counting the number of ships but the number of containers.
Being serious contender of maintaining and sustaining the volume we have to capitalize on facilitating shipping vessels and growing potential benefits as transshipment hub.
Moreover, we have a transshipment policy but it needs some quick amendments, easing regulations, policy framework and encouraging points for transshipment surge, so that Pakistan should continue on record cargo levels at the port even after the war.
Factually narrating, this is the best time to improve investor’s confidence for attracting FDI by considering lowering taxes, diminishing soaring energy costs and reliability of institutional capacity. At this point of time, we badly need local & foreign investments for our ports, shipping, logistic support services and allied supply chain of suppliers that are selected based on strategic allegiances rather than just cost efficiency.
Experts says that this surge offers Pakistan a rare chance to strengthen its maritime & logistics food print.
