KPT to run container terminal after 17th

ISLAMABAD: The government has approved the summary of Ministry of Maritime Affairs in principle that Karachi Port Trust (KPT) would take over the charge of Pakistan International Container Terminal (PICT) after the expiry of the agreement on June 17, 2023.

According to an official announcement made by the Ministry of Finance on Monday, Minister for Finance and Revenue Ishaq Dar chaired the first meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT). Federal Minister for Maritime Affairs Syed Faisal Ali Sabzwari, Federal Minister for Power Khuram Dastgir Khan, Federal Minister for Law and Justice Senator Azam Nazir Tarar, Minister of State for Petroleum Musadik Malik, SAPM on Finance Tariq Bajwa, SAPM on Government Effectiveness Dr Jehanzeb Khan, the finance maritime affairs, law & justice secretaries and other senior officers attended the meeting.

The CCoIGCT considered and deliberated on a summary of Ministry of Maritime Affairs about the existing 21 years old concession agreement of the KPT with the PICT for operating the container terminal which is going to expire on 17th June, 2023.

The committee endorsed the decision of the Ministry of Maritime Affairs that after the expiry of the agreement with the PICT on 17th June, the KPT will take over the charge of operating the activities of the container terminal.