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February 19, 2019

Land acquired for shipyard in Gwadar

Business

February 19, 2019

KARACHI: Karachi Shipyard and Engineering Works (KSEW) has acquired land at Gwadar for the development of another shipyard, which has been approved by Prime Minister Imran Khan, KSEW Managing Director Rear Admiral Ather Saleem said.

Meeting with a delegation of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he said, “The decision has been taken in view of increased movement of ships and maritime activities at Gwadar Port in the backdrop of China-Pakistan Economic Corridor (CPEC).”

The shipyard land has been earmarked near Gwadar port at Surnallah, which would be developed under joint venture with reputed international shipyard consortium. Project office in this regard was being established, a statement said.

Saleem said there were more than 23 sizeable shipyards in India and five in Bangladesh against only one shipyard in Pakistan established since independence. He underscored the need for public-private partnership in the maritime sector.

This sector offered a huge potential of investment and earnings, including foreign exchange, in many fields such as transportation of goods through shipping, both inland and foreign countries, he added.

He criticised the Karachi Port Trust and Bin Qasim Port for not patronising the indigenous shipping industry and buying the ships, for their requirements, from foreign countries.

FPCCI Patron SM Muneer lauded the efforts being made by the KSEW in ship building and development of maritime activities, as they played an important role in facilitating trade through cheap transportation of goods.

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