Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh has emphasized that Pakistan is actively encouraging foreign investment, with the recent US 25 million investment from Denmark standing as a testament to the confidence the international community has in the country’s potential. Speaking at a dinner hosted after the inauguration of the International Cargo Terminal Private Limited at Port Qasim, Sheikh highlighted the growing interest from friendly countries in Pakistan’s economic landscape.
The event, attended by senior officials and dignitaries including Danish Ambassador to Pakistan Jakob Linulf, ICT Senior Vice President Syed Imdad Hussain Jafri, and Managing Director Asim Saeed Khan, marked the successful establishment of the new cargo terminal. The ceremony also saw the presentation of shields to the chief guest and other distinguished attendees. Minister Qaiser Ahmed Sheikh spoke about the significant role of maritime trade in Pakistan, noting that 90 percent of the country’s goods are transported via sea.
He underscored Pakistan’s strategic position in the region, particularly with its access to Central Asian markets, making it a vital trade hub. “Port Qasim is an institution that earned Rs 42 billion last year. Under the leadership of Prime Minister Shahbaz Sharif, the government is working tirelessly to improve the country’s economy,” Sheikh stated.
He also highlighted the remarkable increase in container capacity at Port Qasim, stating that the terminal’s capacity has expanded from 4,000 to 22,000 containers. The Minister expressed ambitions for Gwadar Port to play a larger role in Pakistan’s imports and exports, aiming for a 60 percent share in the country’s trade activities in the coming years. Furthermore, Sheikh mentioned the future prospects for Pakistan’s maritime industry, such as the anticipated arrival of 500 ships for scrapping at Gadani and the substantial increase in remittances sent by overseas Pakistanis, which grew by 35 percent last year. Danish Ambassador to Pakistan, Jakob Linulf, echoed the sentiment of strengthening bilateral relations, highlighting the 75-year-long friendship between Pakistan and Denmark. He reaffirmed Denmark’s commitment to investing further in Pakistan, calling the International Cargo Terminal project an example of the deep trust and longstanding relationship between the two countries.
“I have visited several cities in Pakistan, and Karachi is a beautiful city with wonderful people. Our investment in this project reflects the strong ties we share with Pakistan, and we look forward to contributing more in the future,” said Ambassador Linulf.
Syed Imdad Hussain Jafri, Senior Vice President of ICT, took the opportunity to highlight the terminal’s solar energy system, which aligns with Pakistan’s growing focus on alternative and green energy solutions.
“We are fully aware of the challenges posed by climate change, and this project sends a message that Pakistan is committed to creating a pollution-free society,” Jafri said. MD ICT Asim Saeed Khan expressed gratitude to Denmark for its continued support, emphasizing the positive impact of the project on Pakistan’s infrastructure and economy.
“We are thankful for Denmark’s cooperation and will strive to establish many more projects in the future,” Khan remarked. The inauguration of the International Cargo Terminal and the $25 million investment by Denmark signify a positive step for Pakistan’s trade and economic development, paving the way for more international collaborations and growth in the maritime sector.
