AGL58.1▼ -1.29 (-0.02%)AIRLINK186.9▲ 0.09 (0.00%)BOP12.94▲ 0.77 (0.06%)CNERGY7.28▲ 0.17 (0.02%)DCL8.73▲ 0.01 (0.00%)DFML52.01▼ -0.08 (0.00%)DGKC107.81▲ 2.74 (0.03%)FCCL37.9▲ 0.82 (0.02%)FFL14.9▲ 0.21 (0.01%)HUBC133.16▲ 1.43 (0.01%)HUMNL13.19▼ -0.06 (0.00%)KEL4.24▲ 0.03 (0.01%)KOSM5.89▼ -0.08 (-0.01%)MLCF46.4▲ 0.75 (0.02%)NBP78.68▲ 2.02 (0.03%)OGDC201.56▲ 2.12 (0.01%)PAEL38.64▲ 1.05 (0.03%)PIBTL7.89▲ 0.13 (0.02%)PPL170.99▲ 0.45 (0.00%)PRL33.38▲ 0.47 (0.01%)PTC22.91▼ -0.4 (-0.02%)SEARL96.2▲ 0.58 (0.01%)TELE8.04▲ 0.02 (0.00%)TOMCL32.25▼ -0.16 (0.00%)TPLP12.3▲ 0.57 (0.05%)TREET21.06▲ 0.22 (0.01%)TRG60.4▼ -1.86 (-0.03%)UNITY29.68▲ 0.4 (0.01%)WTL1.48▲ 0.01 (0.01%)

Top global companies vying for access to Pakistan’s ports: Qaiser

Political Stability And Export Led Growth Key To Economic Prosperity Qaiser
Share
Tweet
WhatsApp
Share on Linkedin
[tta_listen_btn]

Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh revealed on Wednesday that top global companies are vying for access to Pakistan’s ports, with the government taking bold steps to revolutionize the maritime sector through comprehensive digitalization, poised to transform Pakistan into a thriving hub of international trade.

The Minister unveiled an ambitious plan to transform Pakistan’s ports, revealing that global companies have expressed interest in investing multi-billion dollars due to the huge potential of Pakistan’s ports.

This development is poised to catapult Pakistan’s maritime sector to new heights, making it a key player in regional trade, he expressed confidence.

With Pakistan’s strategic location and vast coastline, its ports have long been recognized as a vital artery for international trade, he said, adding, the investment is expected to bring in cutting-edge technology, modern infrastructure, and expertise further solidifying Pakistan’s position as a major maritime hub.

The Minister praised Prime Minister Shahbaz Sharif and his team for their efforts in attracting international investment, stating that today’s success is a direct result of their hard work.

He noted that global companies are now expressing confidence in Pakistan’s maritime sector and are eager to invest.

Furthermore, the government is taking proactive steps to digitalize the sector, paving the way for increased efficiency and growth, he added.

Minister further stated that the Pakistani government’s primary focus is on boosting direct foreign investment and export-led growth.

Notably, the semi-sector has recently witnessed a significant 30% increase, demonstrating the country’s potential for economic expansion, he said, adding, this growth strategy aligns with the government’s vision to capitalize on exportable services and products, such as software and IT solutions, which have shown promising growth globally.

The Prime Minister is also focusing on developing Gwadar Port, which will serve as a crucial link for Pakistan’s business policies with Afghanistan and Central Asia, he said. To facilitate trade, the government will replace bank guarantees with insurance and also subsidize potential losses, he added.

Related Posts

Get Alerts