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Saturday July 20, 2024

KPT records strong growth of 23pc in FY 2023-24

By Our Correspondent
July 10, 2024
In this picture, containers, ship and small boats are seen at KPT port. — AFP/File
In this picture, containers, ship and small boats are seen at KPT port. — AFP/File

KARACHI: Karachi Port Trust (KPT) has reported significant growth in its cargo handling operations, marking a notable increase of 23.43 per cent for the fiscal year 2023-24, according to a statement released on Tuesday.

The total cargo handled at KPT reached 51.65 million tonnes by the end of FY2023-24, compared to the previous fiscal year’s 41.85 million tonnes. This growth was driven by a robust performance in both dry cargo, which saw a 31.39 per cent increase to 40.24 million tonnes, and liquid bulk cargo, which rose by 1.69 per cent to 11.41 million tons.

Export cargo handling surged to 18.80 million tonnes, reflecting a substantial 47.16 per cent rise from the FY 2022-23 figure of 12.78 million tonnes. Meanwhile, imports grew by 13 per cent to 32.85 million tonnes, up from 29.07 million tonnes in the previous fiscal year.

The further breakdown shows that export dry cargo reached 17.66 million tons, up by 49.12 per cent, bolstered by increased clinker handling. Export liquid bulk cargo rose to 1.14 million tons, showing a 22.24 per cent increase, from the previous 0.93 million tonnes during FY2022-23, primarily due to furnace oil and molasses contributions.

On the import side, dry cargo handling reached 22.58 million tonnes, up by 20.21 per cent, driven by imports of wheat, fertilizer, rock phosphate, and iron ore; in FY2022-23, the figure stood at 18.78 million tonnes. Import liquid bulk cargo remained stable at 10.27 million tonnes. Last year, the figure was 10.29 million tonnes.