Buck Shortage: DHL Pakistan Cuts Operation Amid Restrictions on Remittance Outflow
Closing Updated: February 28, 2023, 13: 27 IST
Efficient March 15, 2023, we are in a position to be suspending our ‘Import Categorical Product’ and limiting outbound shipments to a most weight of 70 kg per shipment for all clients billed in Pakistan, the firm acknowledged. (Representative image/Reuters)
The vogue comes as the foreign alternate reserves held by Pakistan plummeted to alarming phases, without a longer up to one month import quilt
DHL Pakistan, an world logistic firm, has introduced that it’s cutting down its operations in Pakistan after authorities imposed restrictions on outward remittances for foreign companies working within the nation.
The firm conveyed the same to its clients through a look circulating on social media on Monday. It acknowledged the remittances sent by DHL Pakistan quilt the rate of DHL’s world aviation, hub, gateway and final-mile shipping incurred through its global network for the shipments sent/purchased by its clients.
“This constraint has made it unsustainable for DHL Categorical to proceed providing the beefy product offerings in Pakistan. Efficient 15 March 2023, we are in a position to be suspending our ‘Import Categorical Product’ and limiting outbound shipments to a most weight of 70 kg per shipment for all clients billed in Pakistan. Please uncover the final opt-up date will most likely be 14 March 2023. Shipments picked up on or earlier than this date will mute be delivered,” reads the letter
The vogue comes as the foreign alternate reserves held by Pakistan plummeted to alarming phases, without a longer up to one month import quilt. The authorities are at the moment conserving negotiations with the IMF delegation to reach a workers-level settlement that can likely well launch $1.1 loan installment to the money-strapped nation.
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