Karachi Port Trust takes control of PICT
- By Web Desk -
- Jun 21, 2023
KARACHI: Karachi Port Trust (KPT) has taken control of Pakistan International Container Terminal (PICT), ARY News reported.
As per details, the Karachi Port Trust security forces have taken control of the Pakistan International Container Terminal as the 21-year agreement of PICT expired on June 17.
The administrative affairs will be under Karachi Port Trust for 13 days. An important board meeting was called on this matter and the chairman of Karachi Port Trust headed the meeting. A group from Abu Dhabi has shown interest in taking over PICT.
Earlier, the Abu Dhabi Ports Group (AD Ports) and Karachi Port Trust (KPT), have entered an agreement to drive sustainable growth, promote trade diversification, and strengthen bilateral ties between the UAE and Pakistan.
The AD Ports Group has taken a significant step towards enhancing regional connectivity and fostering economic growth in Pakistan by signing a Memorandum of Understanding (MoU) with the KPT, said a spokesperson of KPT on Thursday.
A high-powered delegation from United Arab Emirates (UAE) visited Karachi and also met Federal Minister for Maritime Affairs Faisal Sabzwari.
The AD Ports Group delegation was led by CEO and Managing Director of AD Ports Group Captain Mohamed Juma Al Shamisi, along with his senior team.
The AD Ports Group is a UAE Government owned entity and the leading maritime and logistics provider from the Middle East.
The MoU signing between Abu Dhabi Ports and KPT paved the way for enhancing bilateral cooperation and increasing efforts in the development, expansion, and digitalization of port projects within Pakistan.
The MoU signing between Abu Dhabi Ports and KPT represents a shared vision to drive sustainable growth, promote trade diversification, and strengthen bilateral ties between the UAE and Pakistan, the state news agency reported.
The collaboration encompasses a wide range of initiatives and projects aimed at enhancing port infrastructure, optimizing operational efficiencies, and embracing digitalization.
The Group will also attract foreign direct investment and leverage its technical expertise to conduct feasibility studies and analysis, to ensure commercial success of the project.