AIRLINK 209.55 Decreased By ▼ -1.42 (-0.67%)
BOP 10.46 Decreased By ▼ -0.21 (-1.97%)
CNERGY 7.35 Decreased By ▼ -0.06 (-0.81%)
FCCL 34.39 Increased By ▲ 0.82 (2.44%)
FFL 18.05 Decreased By ▼ -0.36 (-1.96%)
FLYNG 22.92 Decreased By ▼ -0.70 (-2.96%)
HUBC 132.49 Increased By ▲ 1.10 (0.84%)
HUMNL 14.14 Increased By ▲ 0.04 (0.28%)
KEL 5.03 Increased By ▲ 0.05 (1%)
KOSM 7.07 Decreased By ▼ -0.09 (-1.26%)
MLCF 45.20 Increased By ▲ 1.44 (3.29%)
OGDC 218.38 Increased By ▲ 4.82 (2.26%)
PACE 7.58 Increased By ▲ 0.13 (1.74%)
PAEL 41.70 Increased By ▲ 0.17 (0.41%)
PIAHCLA 17.30 Decreased By ▼ -0.17 (-0.97%)
PIBTL 8.55 Decreased By ▼ -0.05 (-0.58%)
POWERPS 12.50 No Change ▼ 0.00 (0%)
PPL 189.03 Decreased By ▼ -0.57 (-0.3%)
PRL 42.33 Decreased By ▼ -1.98 (-4.47%)
PTC 25.17 Increased By ▲ 0.20 (0.8%)
SEARL 103.96 Increased By ▲ 0.59 (0.57%)
SILK 1.03 No Change ▼ 0.00 (0%)
SSGC 39.24 Decreased By ▼ -1.26 (-3.11%)
SYM 19.16 Decreased By ▼ -0.36 (-1.84%)
TELE 9.24 Decreased By ▼ -0.20 (-2.12%)
TPLP 13.10 Decreased By ▼ -0.40 (-2.96%)
TRG 69.18 Increased By ▲ 4.71 (7.31%)
WAVESAPP 10.72 Decreased By ▼ -0.18 (-1.65%)
WTL 1.71 Increased By ▲ 0.06 (3.64%)
YOUW 4.14 Decreased By ▼ -0.07 (-1.66%)
BR100 12,079 Decreased By -111.6 (-0.92%)
BR30 36,602 Increased By 19.8 (0.05%)
KSE100 116,053 Decreased By -202.4 (-0.17%)
KSE30 36,578 Decreased By -25.8 (-0.07%)

Federal Minister for Shipping and Ports, Babar Ghauri has said that re-launching of ferry service from Karachi to Bombay was subject to improvement of bilateral relations between India and Pakistan. Talking to the newsmen at 'Meet the Press' programme here on Monday, Ghauri said that steps were being taken to involve private sector for launching ferry service from Karachi to Pasni, Gwadar, Muscat and Dubai. He mentioned that ferry service was earlier operational from Karachi to Bombay, which was suspended due to critical relations between the two countries.
"We are ready to re-start this service and awaiting go ahead signal from both the governments', he added. The minister revealed that Gwadar Port was near to completion and the Chinese Prime Minister would perform inaugural ceremony in March this year.
He said that Karachi International Containers Terminal (KICT) was handling 350,000 cargo vessels at present and after construction of two more berths, the handling capacity would increase to 700,000 vessels, which would generate income up to $16 million as against present eight million dollars.
A Hong Kong-based Chinese company was constructing both the berths at a cost of $55 million. With the increase in trade activities due to rising trend in exports and imports, the KICT would be able to tackle the emerging potential, Ghauri maintained.
Responding to a question regarding Gwadar Port's impact on Karachi Port business, he said Karachi Port was catering to the country's requirements, while the Gwadar port would focus on trade with regional and Central Asian countries. Besides, it would also benefit India, particularly Rajhistan area, as it would not only reduce transportation time, but also help slashing transportation charges and generating more income for Pakistan on the other, he added. A summary has already been submitted to the government in this regard, the minister said.
The Indian Secretary Ports had visited Pakistan last year and all proposals regarding initiation of ferry service and lifting of cargo of both the countries were submitted to him. Pakistan can lift 80 percent of the Indian cargo provided our proposals were matured, he said.
Ghauri further said that as a result of wrong policies of the previous governments and taxation problems, many of the private vessel owners have shifted their business to Dubai and running their vessels with foreign countries flags there.
"We have also constituted a six-member committee, comprising those owners, which would submit its recommendations for re-launching of their services from Pakistan," he added.
When asked about the government's talks with Pakistan Peoples Party, the minister said that if it were against the MQM's interests, we would take decision accordingly, however, we were enjoying good relations with the government.
Answering a question, he said Muttahida does not support military action in any part of the country including Balochistan and we would never compromise on the principles.
On the occasion, the minister also presented two cheques worth Rs 100,000 each to the President Lahore Press Club Arshad Ansari, one on his own behalf and second on behalf of his party chief, Altaf Hussain.

Copyright Business Recorder, 2005

Comments

Comments are closed.