Woes of the cargo industry

Pakistan’s cargo and freight forwarding industry remains in the limelight for its vivacity in serving the importers and exporters. Though the National Transport Policy 2018 and the National Freight and Logistics Policy (NFLP) 2021 set clear dogmas for the stakeholders, Pakistan International Freight Forwarders Association (PIFFA) has reported the economic pains of around 600 freight and logistics companies. The shipping and freight industry is the fueling force behind the international economy. According to the United Nations Conference on Trade and Development, 80 per cent of the global trade volume is managed through sea routes. Transportation of technological paraphernalia, food commodities, raw materials, and general goods is impossible without apropos facilitation of the shipping network. But, alas! Pakistan’s freight forwarding industry has been facing turbulence since 2019. As per the World Bank’s latest statistics for 160 countries, Pakistan comes at 122nd place in terms of Logistics Performance Indicators (LPI), with Germany at the first rank and India at 44th.