DHL Pakistan, an international logistic company, has announced that it is scaling down its operations in Pakistan after authorities imposed restrictions on outward remittances for foreign companies operating in the country.
The company conveyed the same to 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 its global network for the shipments sent/received by its customers.
“This constraint has made it unsustainable for DHL Express to continue providing the full product offerings in Pakistan. Effective 15 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
The development comes as the foreign exchange reserves held by Pakistan plummeted to alarming levels, with less than one month import cover. The 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.
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