Wednesday, 8 May 2013

EVENTS DURING YEAR 1971-72

The year 1971-72 was very eventful for the economy of Pakistan in general and Pakistan Shipping in particular. The country experienced the worst possible crisis in the Eastern Wing, in 1971 when from March onward all commercial activity came virtually to a stand still and as a result, shipping could not continue its activities in the ports of Chittagong and Chalna. The crises culminated in to the full-fledged war resulting in a forcible separation of East Pakistan. NSC thus lost roughly two third of her traditional trade i.e. imports & exports from East Pakistan as well as inter-wing trade and was left only with the imports & exports of West Pakistan. Exports from West Pakistan too were adversely affected by the labour unrest. Due to these crisis, the World Bank and the Consortium of aid giving countries were reluctant to finance Pakistani projects and there was hardly any thing moving from USA, Canada and Europe except certain negotiated deals

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