FPCCI President Highlights Economic Losses Due to Highway Closures in Sindh

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President, Atif Ikram Sheikh, has voiced concerns over the significant economic repercussions faced by Sindh due to ongoing highway blockades by protestors.

Sheikh has implored both the provincial and federal authorities to take swift and decisive action to resolve these disruptions. He noted that the road closures have persisted for three days, leaving over 12,000 commercial vehicles stranded, which includes approximately 2,500 oil tankers. This situation poses a potential risk of fuel shortages nationwide and has already begun to disrupt the supply of essential rations and food items to Punjab and Khyber Pakhtunkhwa.

Sheikh further stated that delays in customs processes and reports from Karachi Port indicate more than 3,000 uncleared containers, leading to daily demurrage charges surpassing $2 million. The domestic supply chain is severely hampered, with approximately 40% of wheat and vegetable shipments from Sindh to Punjab and KP facing interruptions. Addressing export-related losses, he mentioned that the EU and Gulf markets are experiencing losses exceeding $50 million due to disruptions in textile and seafood supplies.

Sheikh advocated for the immediate convening of a Council of Common Interests meeting to facilitate a prompt and amicable resolution to these pressing issues.