Latest news with #AamirAziz
Time of India
20 hours ago
- Business
- Time of India
Pakistan trade data: Exports miss target for FY25; deficit widens on surging imports
This is an AI-generated image, used for representational purposes only. Pakistan failed to meet its annual export target for the fiscal year 2024–25, with exports totalling $32.106 billion, falling short of the government's target of $32.341 billion, according to data released by the Pakistan Bureau of Statistics (PBS). As per the news agency ANI, the shortfall comes despite a modest year-on-year export growth of 4.67 per cent. Imports, meanwhile, surged to $58.38 billion, exceeding the official projection of $57.283 billion. This pushed the annual trade deficit to $26.274 billion, widening beyond the projected $24.941 billion. According to ARY News, the shortfall in exports combined with higher-than-expected import volumes has intensified challenges in managing the country's external account. To support the trade sector, Pakistan's ministry of maritime affairs has slashed charges for export and transhipment containers by 50 per cent, effective July 1, 2025. As per the Pakistan government's notification, this relief applies to Port Qasim, including Marginal Wharf, FOTCO, and PIBT, but excludes empty containers. Wharfage charges at DP World have also been eased to incentivise outbound trade flows, reported ARY News. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Boite A Scoop Undo However, Pakistan's exporters continue to face external headwinds. The Indian government's sweeping ban on goods of Pakistani origin, imposed after the Pahalgam terror attack and effective since May 2, 2025, has further strained freight operations. Indian ports no longer allow the anchoring of vessels carrying Pakistani goods, a move that has significantly raised shipping and insurance costs. 'Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days,' said Karachi Chamber of Commerce and Industry president Javed Bilwani, quoted by news agency PTI. Exporters have also noted that the additional burden of feeder vessels has hiked logistics costs. While exporters say the ban has had a limited direct impact on volumes, the overall tightening of trade routes comes amid Pakistan's already fragile supply chains. 'There is no significant impact on exports..., except for a rise in insurance costs,' said Aamir Aziz , a textile exporter, as cited by PTI. Pakistan's reliance on imported raw materials for value-added exports makes disruptions even more consequential. Formal trade ties between India and Pakistan have remained frozen since 2019, with bilateral trade shrinking from $2.41 billion in 2018 to just $1.2 billion in 2024, as per PTI. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
4 days ago
- Business
- News18
Pakistani Importers Grapple With Shipping Delays, Cost Surge After India's Cargo Ban
Last Updated: Pakistani exporters have also noted a rise in shipping and insurance costs, though many say the overall impact on exports has so far remained limited India's ban on ships carrying Pakistani goods from anchoring at its ports has disrupted trade routes, leading to higher freight costs and longer delivery times, according to reports. The comprehensive ban, effective from 2 May 2025, was imposed following the Pahalgam terror attack. It blocks both the direct and indirect import or transit of goods originating in, or exported from, Pakistan. As a result, Pakistani importers have reported delays and increased shipping charges, Dawn newspaper reported on Sunday. 'Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days," said Javed Bilwani, President of the Karachi Chamber of Commerce and Industry. He stated that importers are now relying on smaller feeder vessels, which has driven up costs. Exporters have also noted a rise in shipping and insurance costs, though many say the overall impact on exports has so far remained limited. 'There is no significant impact on exports…, except for a rise in insurance costs. Shipping charges had already gone up even before the escalation," Aamir Aziz, a textile exporter, told the publication. Pakistan's export sector is heavily dependent on imported raw materials for value addition. With the Pakistani government already restricting imports to preserve foreign currency reserves, any disruption in the supply chain could have far-reaching effects, Dawn added. Trade ties between India and Pakistan have been tense since the Pulwama terror attack in 2019, after which India raised import duties on Pakistani goods to 200 per cent. Formal trade has largely remained frozen, with bilateral trade shrinking from USD 2.41 billion in 2018 to USD 1.2 billion in 2024. Pakistan's exports to India dropped from USD 547.5 million in 2019 to just USD 480,000 in 2024. Following the new ban, Indian authorities are also cracking down on efforts to bypass the rules. Last week, the Directorate of Revenue Intelligence (DRI) seized 39 containers at Nhava Sheva Port in Navi Mumbai. The containers, holding over 1,100 metric tonnes of Pakistani-origin goods worth around Rs 9 crore, had been routed through Dubai and the UAE. The Ministry of Finance confirmed the seizure in an official statement. It said the goods violated India's import regulations, which prohibit both direct and indirect imports from Pakistan. One partner of the importing firm has been arrested in the case. (With inputs from PTI) Location : Pakistan First Published:
Time of India
4 days ago
- Business
- Time of India
Trade fallout: India's ban on Pakistan-origin cargo at ports triggers spike in freight costs, delays for Islamabad
Representative image India's ban on ships carrying goods originating in or exported from Pakistan has led to a sharp rise in freight charges and longer shipping times for Pakistani importers, Dawn newspaper reported, citing industry officials. The ban, imposed on May 2, 2025, following the Pahalgam terror attack, prohibits both direct and indirect movement of Pakistani goods through Indian ports. As per news agency PTI, this comprehensive restriction has not only impacted maritime logistics but also prompted intensified enforcement by Indian agencies to detect violations. 'Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days,' said Javed Bilwani, president of the Karachi Chamber of Commerce and Industry, in comments reported by Dawn. He said importers now rely on feeder vessels, resulting in increased transportation costs. Exporters, too, confirmed a spike in logistics expenses, especially in insurance costs. 'There is no significant impact on exports, except for a rise in insurance costs. Shipping charges had already gone up even before the escalation,' said Aamir Aziz, a textile exporter, as cited in the Dawn report. Pakistan's export sector, which heavily depends on imported raw materials for value addition, now faces added operational difficulties. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo With Islamabad already restricting non-essential imports to manage its forex reserves, supply chain disruptions caused by the Indian ban carry broader economic implications. The Indian government's stance has been reinforced through multiple enforcement drives. In one such action, the Directorate of Revenue Intelligence (DRI) launched 'Operation Deep Manifest' to target illegal imports of Pakistani goods routed through third countries like the UAE. The finance ministry said that so far, 39 containers carrying over 1,100 metric tonnes of goods valued at Rs 9 crore have been seized under the operation. These goods were falsely declared as UAE-origin but were found to have originated from Pakistan, transshipped via Dubai. The DRI discovered money trails and financial links connecting Indian importers with Pakistani entities, and arrested one of the partners of a trading firm involved in the operation. According to the ministry, this complex modus operandi was designed to obscure the true origin of the goods using a web of intermediaries in Pakistan and the UAE. The crackdown is part of broader national security operations such as 'Operation Sindoor', aimed at tightening border trade oversight in response to regional threats. India had already raised import duties on Pakistani goods to 200% after the 2019 Pulwama terror attack. Since then, formal trade relations have remained frozen. Bilateral trade between the two countries dropped from $2.41 billion in 2018 to just $1.2 billion in 2024, as per PTI. Pakistan's exports to India declined sharply from $547.5 million in 2019 to only $480,000 last year. The government maintains that the trade restrictions are critical to safeguarding India's national and economic security and preventing misuse of trade channels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)
Business Standard
4 days ago
- Business
- Business Standard
India's ban on ships with Pak's cargo raises costs, delays freight: Report
India's ban on ships carrying Pakistani goods from anchoring at its ports has increased freight charges and transit time, according to a media report. Following the Pahalgam terror attack, India imposed a comprehensive ban, effective May 2, 2025, on the direct or indirect import or transit of goods originating in or exported from Pakistan. Pakistani importers said the Indian ban has resulted in longer shipping times and higher freight charges, Dawn newspaper reported on Sunday. Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days, said Javed Bilwani, President of the Karachi Chamber of Commerce and Industry. He said importers are now relying on feeder vessels, which raises costs. Exporters also reported a spike in shipping and insurance costs following the Indian ban. However, they said the overall impact on exports remains minimal, the paper reported. There is no significant impact on exports..., except for a rise in insurance costs. Shipping charges had already gone up even before the escalation, said Aamir Aziz, an exporter of textile made-ups. Pakistan's exports are heavily reliant on imported inputs for value addition. With the government maintaining tight controls on imports to conserve foreign exchange, any disruption in supply chains has broader economic implications, the paper said. The India-Pakistan trade relations soured after the Pulwama terror attack, following which India raised the import duty to 200 per cent on all goods imported from Pakistan. Formal trade relations between Pakistan and India have remained frozen since 2019, and bilateral trade declined from USD 2.41 billion in 2018 to USD 1.2 billion in 2024. Pakistan's exports to India decreased from USD 547.5 million in 2019 to just USD 480,000 in 2024.
Time of India
4 days ago
- Business
- Time of India
India's ban on ships with Pakistani cargo raises freight costs, delays imports: Report
India's ban on ships carrying Pakistani goods from anchoring at its ports has increased freight charges and transit time, according to a media report. Following the Pahalgam terror attack, India imposed a comprehensive ban, effective May 2, 2025, on the direct or indirect import or transit of goods originating in or exported from Pakistan . Pakistani importers said the Indian ban has resulted in longer shipping times and higher freight charges, Dawn newspaper reported on Sunday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thị trường có dấu hiệu suy thoái không? IC Markets Đăng ký "Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days," said Javed Bilwani, President of the Karachi Chamber of Commerce and Industry . He said importers are now relying on feeder vessels, which raises costs. Live Events Exporters also reported a spike in shipping and insurance costs following the Indian ban. However, they said the overall impact on exports remains minimal, the paper reported. "There is no significant impact on exports..., except for a rise in insurance costs. Shipping charges had already gone up even before the escalation," said Aamir Aziz, an exporter of textile made-ups. Pakistan's exports are heavily reliant on imported inputs for value addition. With the government maintaining tight controls on imports to conserve foreign exchange, any disruption in supply chains has broader economic implications, the paper said. The India-Pakistan trade relations soured after the Pulwama terror attack, following which India raised the import duty to 200 per cent on all goods imported from Pakistan. Formal trade relations between Pakistan and India have remained frozen since 2019, and bilateral trade declined from USD 2.41 billion in 2018 to USD 1.2 billion in 2024. Pakistan's exports to India decreased from USD 547.5 million in 2019 to just USD 480,000 in 2024.
