Pakistan – Russia direct shipping is to commence from end of this month with the first ever ship to reach Karachi port on 25th May. The Chief Executive Officer of Pak Shaheen Limited, Abdullah Farrukh, stated that this undeviating shipping will be touching Saint Petersburg and Karachi and is noteworthy during the economic downfall of country.
Previously, the shipping was made through transshipment causing extensive delays and high costs. However now this direct containerized shipment will highly facilitate the export of leather goods, textiles, surgical items, sports goods, apparels, Himalayan Salt, fruits & vegetables, rice, and many other items. Abdullah Farrukh further mentioned that the payment would be made in Yuan, the Chinese currency.
As per the trade index Pakistan’s export to Russia can be more beneficial for the country as compared to Import from Russia as according to the previous statistics, Pakistan’s export to Russia was worth $145 million in 2020, while import was worth $617 million.
This new initiative will hopefully reform the economic condition of Pakistan as well as it will make Pakistani items more competitive in huge Russian Market.
