KCCI Chief urges Terminal Operators, Shipping Cos to share burden of demurrage, detention losses.

KARACHI -- President Karachi Chamber of Commerce and Industry (KCCI) Mohammed Tariq Yousuf, while appreciating the spirit shown by Karachi Port Trust (KPT) and Port Qasim Authority (PQA) by waiving demurrage charges, urged all Terminal Operators and Shipping Lines to adopt the same by sharing the burden of heavy demurrage and detention charges with the business community so that thousands of stranded containers could be released at the earliest which would lead to normalizing almost stagnant trade, industrial and economic activities. In a statement issued, President KCCI pointed out that barely around 5 to 10 percent containers were stuck at the state-owned KPT and PQA while the rest of 90 percent containers were lying at the private terminals who have already been requested by the government to relinquish their demurrage charges while Shipping Lines must also give some relaxation in detention charges so that the hardships being faced by business community during the ongoing difficult times could be minimized. 'We fully understand that Private Terminals and Shipping Lines are also businesses which are operating at a very hefty cost to make earnings in an extremely challenging environment but it was not necessary to generate maximum profits all the time so they must forgo some portion of their profitability for once which would certainly prove beneficial for their businesses in the long run and further cement the existing ties with their customers.

'It is neither the business community's nor the terminal operators' or Shipping Lines' fault but we all must realize the gravity of situation as our country is facing severe foreign reserves crises and a battle for survival is currently underway so we all need to work collectively and share each other's burden...