Indian cement importers ask Pakistani exporters to recall their shipments

The development comes amidst rising tensions between Pakistan and India after the Pulwama attack and the latter's decision to slap 200% duty on imports from Pakistan

0
2088

KARACHI: Pakistan’s cement exporters have been directed to recall their containers which were set for India, upon the request of Indian importers after their government imposed a 200% increase in duty on several products following the Pulwama attack on Friday.

According to a report in Dawn, an exporter who declined to be named said the cement industry has started getting messages from Indian buyers to recall containers.

Consequently, some exporters have begun recalling their shipments, the exporter revealed.

The exporter shared 600-800 containers loaded with cement are presently at Karachi Port, high seas or at Dubai and Colombo.

He stated Pakistani cement exports to India were set to flourish after the Indian government’s decision to provide Rs50 billion for rehabilitation fund for Kerala which was impacted by floods in 2018.

He added price and demand had been on the ascendancy due to that.

Due to the rising tensions between the two countries after the Pulwama attack, the situation has changed said the exporter.

He said Pakistan’s exports will remain in jeopardy till the formation of a new government after elections are held in June this year.

The exporter said Pakistan’s cement exports to India stood between $70-80 million.

As per the exporter, 75% of the country’s cement exports to India take place via the Wagah border, whilst the rest is done via sea route.

Pakistan’s cement exports during the first seven months (July-January) of the current financial year 2018-19 were recorded at 648,108 tons, whilst exports during FY18 touched 1.212 million tons.

LEAVE A REPLY

Please enter your comment!
Please enter your name here