Ishaq Dar desires to further strengthen ties with UAE in maritime sector

ISLAMABAD: Federal Minister for Finance and Revenue Senator Ishaq Dar on Monday decided to constitute a committee to negotiate draft Framework Agreement with the United Arab Emirates (UAE) to further strengthen relations between two countries in maritime sector, ARY News reported.  

According to a statement issued by the finance ministry, Ishaq Dar chaired the meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) in Islamabad.

The cabinet committee considered a summary of the Ministry of Maritime Affairs about the management of operations of Pakistan International Container Terminal (PICT).

The committee was informed that Abu Dhabi Ports (ADP) owned by the government of the United Arab Emirates (UAE) has shown interest in operating the Container Terminal.

The CCoIGT after deliberation decided to constitute a committee to negotiate the draft Framework Agreement between the governments of UAE and Pakistan under Inter-Governmental Commercial Transaction Act 2022, to further strengthen the relations between the two countries in the Maritime sector.

Among others, the meeting was attended by Federal Minister for Maritime Affairs Syed Faisal Ali Subzwari, Federal Minister for Power, Khurram Dastagir Khan; Federal Minister for Commerce, Syed Naveed Qamar; SAPM on Revenue, Tariq Pasha; Attorney General for Pakistan, Secretaries of Finance, Maritime Affairs and Law & Justice.