KARACHI: Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh has said that the development of Gwadar Port is one of the top priorities and the federal government has decided to handle fifty percent of the import cargo of public sector through Gwadar Port.
While briefing the media during his visit to Karachi Press Club here on Saturday, the minister said that more trading activities at the Gwadar Port will help to create more economic activities in the area and more job opportunities for local people.
The Minister said that the government is making all efforts to bring investment in the country mainly in maritime sector which has huge potential of growth.
Govt decides to bring in 50pc govt imports thru Gwadar port
Talking to media during the visit of Karachi Press Club (KPC), Sheikh spoke extensively about the efforts of his ministry in particular and government in general to bring the investment in the country especially in the maritime sector, which he said offers immense opportunities to the foreign investors.
Qaiser Ahmed Sheikh pointed out that Secretary General of International Maritime Organisation (IMO) will visit to Pakistan in mid-September to attend IMO Conference to be held in Islamabad. It is a big opportunity for Pakistan as the IMO conference will be instrumental to uplift the maritime sector in the country, he added.
He said maritime sector of Pakistan has huge potential and many foreign investors are showing interest to invest in the country. He said that a big investment of around $2.0 billion is expected to come by a Danish company Maersk to develop infrastructure in maritime sector in Pakistan. He said a Memorandum of Understanding (MoU) is expected to be signed very soon. He said existing ports in Pakistan are operating below their capacity and there is no need to develop any new port in the country. He pointed out that work is being done to establish a regulatory body for shipping sector. Several meeting have been held and a working paper would be finalized very soon.
He said the country’s economy is improving gradually and foreign investors are showing interest to come to invest in Pakistan. International rating agency Moody’s has upgraded Pakistan rating that shows the country’s economy is improving. He said remittances from overseas Pakistani workers have increased, inflation is decreasing and country’s stock exchange has hit highest ever levels. He said the revenues of Karachi Port Trust and Port Qasim have increased substantially and the earnings of these ports will further improve in coming months.
The Minister said that Karachi Press Club is playing very important role for democratic values, freedom of speech and human rights. Earlier, President Karachi Press Club Saeed Sarbazi, Secretary Shoaib Ahmed and members Governing Body welcomed the guests. President and Secrtary KPC briefed the minister about the history of the Press Club and its contribution for democracy, freedom of speech and human rights.
Chairman Karachi Port Trust Syed Syedain Raza Zaidi, Chairman Port Qasim Authority Syed Hasan Nasir Shah, Directors of PNSC and other officials were also present on this occasion.
Copyright Business Recorder, 2024