Denmark's company announces US$2b investment in Pakistan's maritime sector

ISLAMABAD: Denmark’s shipping company Maersk Line, the world’s second-largest container shipping company by both fleet size and cargo capacity,  announced to invest USD 2 billion in Pakistan’s maritime sector.

The announcement was made during a meeting between Minister for Maritime Affairs Qaiser Ahmed Shaikh and senior officials from Maersk Line in Islamabad on Monday.

During the meeting, the minister for maritime affairs described the investment as a significant achievement for Pakistan’s shipping and logistics industry, highlighting its potential for long-term economic benefits through enhanced cooperation.

Officials from Maersk Line conveyed their confidence in the Government of Pakistan and the Ministry of Maritime Affairs, expressing satisfaction with the progress made leading up to this major investment breakthrough.

Qaiser Ahmed Shaikh assured Maersk officials of the Ministry’s full support in facilitating their operations and addressing any challenges to ensure a smooth and efficient process for their investment.

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The minister for maritime affairs expressed optimism that this collaboration will pave the way for further foreign investment and contribute to the growth of Pakistan’s maritime infrastructure.

This partnership is expected to create numerous opportunities in port development, job creation, and overall economic growth, solidifying Pakistan’s position in the global shipping industry.

Earlier, Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh on Monday affirmed plans to enhance the performance of government bodies and consider privatisation where deemed necessary.

Speaking to journalists at the Pakistan National Shipping Corporation (PNSC) office, he clarified that there were no ongoing discussions regarding the privatization of PNSC.

Stressing the need for collective efforts to stabilize the economy and elevate the performance of government institutions, the minister expressed concerns about the PNSC oil ship stranded in Sri Lanka for eight months due to technical issues.