KARACHI – DHL Pakistan, an international logistic company, has announced to scale down its operations in the South Asian country after authorities have imposed restrictions on outward remittances for foreign companies operating in the country.
The company has informed its customers through a notice circulating on social media on Monday. It said the remittances sent by DHL Pakistan cover the cost of DHL’s international aviation, hub, gateway and last-mile delivery incurred through our global network for the shipments sent/received by our valued customers.
“This constraint has made it unsustainable for DHL Express to continue providing the full product offerings in Pakistan. Effective I5 March 2023, we will be suspending our ‘Import Express Product’ and restricting outbound shipments to a maximum weight of 70 kg per shipment for all customers billed in Pakistan. Please note the last pick-up date will be 14 March 2023. Shipments picked up on or before this date will still be delivered,” reads the letter.
“We apologise for this unfortunate development and assure you that we understand the significance of express shipping for your business and supply chain. We are in regular contact with the authorities to allow pending remittances for us to resume the full suite of services in Pakistan at the earliest,” it said.
The development comes as the foreign exchange reserves held by Pakistan has reached an alarming level with less than one month import cover. The finance authorities are currently holding negotiations with the IMF delegation to reach a staff-level agreement that would release $1.1 loan installment to the cash-strapped country.
https://en.dailypakistan.com.pk/09-Feb-2023/sbp-s-forex-reserves-slips-below-dollar-3-billion-amid-talks-with-imf
