CPEC offers huge potential to local truck business

KARACHI: The China-Pakistan Economic Corridor (CPEC) offers a huge business opportunity to Pakistan’s logistic companies in the areas of truck operations, an official said.

TCS Private Limited Chief Executive Officer Haris Jamali said that the government is working with the private sector to enhance the logistic network via road links in regional countries to tap into the potential of the CPEC in the Central Asian Countries.

Speaking at a media roundtable, he said that the CPEC offers huge business opportunities to logistics companies in truck operations with a focus to provide them access to Central Asian countries till Uzbekistan, for which the policy framework is being finalised to kick start the operations.

Jamali pointed out that various pilot projects of cargo transportation have been completed successfully between Pakistan and Uzbekistan with private companies including TCS Private Limited.

Pakistan needs to focus on the protection of local players to open the borders with Uzbekistan keeping in mind the trade balance which should maintain a surplus in values to contribute positively to the economy, he added.

Speaking about the courier company’s business countrywide, he said that the business of the courier may grow at the rate of 6 per cent/annum despite issues and challenges facing the economy.

“We are working closely with our international partner to provide them with speedy logistic services in different countries to enhance the export volume of the country in different sectors, including Daraz and Alibaba,” Jamali said.

There are multiple challenges for streamlining the logistic channels in Pakistan with different countries which may take time to proceed but it will ultimately enhance the reach of Pakistani brands and products in different countries, he added.

The cost of operations of the logistics operators increased 50 per cent due to the increasing prices of petroleum products in the country but the companies did pass on the prices by 4 per cent at a local level.

TCS Private Limited is introducing innovations and environment-friendly business practices which will include the use of electric bikes and vehicles, the launch of drones, and the utilisation of digital channels and means to reduce the use of papers in the operations.