Pakistan’s Maritime Affairs Minister Qaiser Ahmed Sheikh will visit Denmark this month to sign a memorandum of understanding between the Danish shipping company Maersk and the Karachi Port Trust (KPT).
This development comes after Maersk’s CEO visited Pakistan earlier and met with officials to explore opportunities in the country’s maritime sector.
Maersk has announced that it will invest $2 billion in Pakistan’s port and transport infrastructure over the next two years. This investment is expected to contribute to infrastructure development and economic improvement in the country.
The Pakistani minister stated that Karachi has significant export potential and his ministry is providing a supportive environment for the business community in this regard. Maersk currently has around 20% market share in Pakistan’s containerized import-export activities.
In addition, Pakistan has also signed an agreement with the Abu Dhabi Ports Group, which is investing about $395 million to develop a container and cargo terminal under a government-to-government agreement between the UAE and Pakistan.
Read more
Punjab to inaugurate Apni Chhat, Apna Ghar programme on Aug 14
I am giving laptops to youth, not Kalashnikov, says PM Shehbaz
