Karachi, December 06, 2022 (PPI-OT):Mr. Suleman Chawla, Acting President FPCCI, has expressed his deep concerns on the detention and non-clearance 0.6 million tonnes of soybean at Karachi Port; and, has categorically warned that it will result in a massive and incapacitating shortage of poultry feed in the country. He added that poultry and dairy products are already beyond the purchasing power of consumers in Pakistan and has only recently shown some initial signs of price stability. Any further supply disruption will totally destroy price stability and drive food inflation even higher, he added.
Mr. Suleman Chawla apprised that the importers are suffering heavy demurrages and terminal charges due to the detention; and, when coupled with unavailability of dollars and its price volatility, it will result in unbearable financial losses to the importers. He demanded that the government should make a swift call on the issue to avert worsening of food security in the country.
Acting FPCCI Chief maintained that licensing and genetic modification have never been any issues with the Soybean imports from the U.S. as the importers have been importing from the same suppliers for many years on a recurrent basis. How, at once, the authorities can decide to detain the soybean consignments and that too without any regard for the serious repercussions on the importers, manufacturers, poultry and dairy sectors, food inflation and, above all, the food security of the country, he questioned!
Mr. Suleman Chawla highlighted the fact that Soybean by-products are primarily used as feed in poultry and dairy sectors due to their high protein content and positive effects on milk production organically – as its protein content is as high as 44 percent. Additionally, poultry is the primary source of protein in the food basket of masses; and, their dependence has been further cemented by the internationally skyrocketing prices of pulses and staples for many years now.
Acting FPCCI President highlighted that due to the healthy profitability of the poultry sector, hundreds of new entrants have built thousands of new shelters across country to raise poultry; and, they have yet to recover their initial investments and they have been burgeoned by the bleak Page 2 of 2 prospects for the sector on unavailability of poultry feed. Lack of continuity in policies and practices have always discouraged private-sector investments in the country, he added.
Mr. Suleman Chawla also demanded that undue demurrages and other charges should also be waived; because they incurred due to a bad decision in the very first place. It is the responsibility of every government to protect the business, industry and trade community, he added.
For more information, contact:
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan