Shipping companies on Friday announced the imposition of “War Risk Charges” due to Strait of Hormuz disruptions.
According to details, the shipping companies imposed $1,500 as war risk charges on normal containers, while $3,500 imposed on special containers under the head of war risk charges.
Faisalabad Chamber of Commerce and Industry President Farooq Yousaf Shaikh expressed his serious concerns about the imposition of war risk charges.
He said that the situation is becoming worse day by day. Farooq Yousaf Shaikh said that Pakistan already witnessed a significant drop in exports.
He said that we need effective diplomacy as it is the responsibility of the government to keep the economy moving.
It is necessary to mention here that the Strait of Hormuz handles roughly 20 per cent of global seaborne oil, approximately 20–21 million barrels per day before the conflict began. It also handles a similar share of LNG exports, primarily from Qatar.
