ISLAMABAD, Nov 18 (Alliance News): Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, has announced significant progress in Pakistan’s maritime sector, highlighting improvements at the country’s ports and new investments by global shipping giants.
Speaking at the Global Maritime Trade Summit, organized by the International Chamber of Shipping, Sheikh thanked Emmanuel Grimaldi and the Hong Kong Transport and Shipping Department for their support.
He emphasized the vital role of shipping in global trade, noting, “About 90% of global trade depends on the shipping industry.”
The Minister revealed that major companies, including Maersk Line, Mediterranean Shipping Company, Hutchison, and Abu Dhabi Ports Company, have signed agreements to invest in Pakistan’s maritime sector.
He invited other international firms to explore investment opportunities, citing Pakistan’s strategic location as a key advantage for trade with China, Central Asia, and the Middle East.
Sheikh also highlighted the underutilized capacity of Port Qasim and Gwadar Port, contrasting them with the bustling ports of Dubai and Jebel Ali.
The ongoing development at Gwadar Port, coupled with a federal directive to route 50% of trade through it, underscores its growing significance.
Pakistan is also aligning its maritime operations with global environmental standards. “Pakistan has signed the Hong Kong Convention and is committed to transitioning its shipping industry to green energy,” he said.
Despite contributing less than 1% to global carbon emissions, Pakistan remains focused on decarbonization and implementing environmentally friendly policies.
The Minister further announced plans for a new maritime policy, set to be introduced later this year or early next year, which will offer tax incentives and facilities to foreign investors.
