22.9 C
Sunday, December 10, 2023

UAE ‘keen’ to invest in Karachi port terminal operations


The United Arab Emirates (UAE) is “keen” to invest in Karachi port terminal operations, according to sources, ARY News reported on Wednesday.

Sources said that the UAE wants to equip Karachi port terminals with the latest technology to handle cargo smoothly. The terminal handling agreement with the UAE will be signed by June 30, the source said.

Finance Minister Ishaq Dar and Maritime Minister Faisal Subzwari are finalizing the terms of the agreement with the UAE.

The group has been given the green light to finalize a draft operation, maintenance, investment and development agreement with designated UAE agencies under an intergovernmental arrangement for the handover of the Karachi port terminal, the sources said.

read more: Formation of committees to outsource Islamabad, Karachi, Lahore airports

Earlier this year, the federal government formed an eight-member committee to start outsourcing Pakistan’s three main airports — Islamabad, Karachi and Lahore.

The council wrote a letter to managers at all three major airports and directed them to provide data from the airport’s aviation department.

Pakistan has been plunged into financial crisis amid uncertainty over the resumption of a $6.5 billion agreement with the International Monetary Fund (IMF).


Source link

Related Articles

Syed Salahuddin Presents Indian Republic Day Kavi sammelan and Mushairah 2024 – A Grand Extravaganza of Poetic Brilliance: Marking Indian Republic Day on Foreign...

In a splendid celebration of the rich tapestry of Urdu and Hindi poetry and literature, Mr. Syed Salahuddin is gearing up to host the...

Tahbib: Navigating a Global Literary Odyssey with Leading Edge Events

In the luminous realm where art, language, and culture converge, Mr. Tariq Faizi's Leading Edge organization orchestrated a three-day symposium presided over by the...

Prize Alert: Key Highlights for Dubai Shopping Festival – Don’t Miss the Dh1 Million Prize and Free Home Makeover!

Prize The Dubai Lights show promises a visual treat with enchanting displays at various venues, featuring larger-than-life characters, neon-lit abras, and life-size Amazon forest...

“Sanjay Shah’s Journey: From Opulent Living to Extradition from the UAE”-1

Sanjay Shah Once the poster boy for opulence in Dubai, Sanjay Shah's extravagant lifestyle was a symbol of luxury. His mansion, fleet of yachts,...

“Dubai’s Spectacular 3D Tale: 500 Drones Transfigure Into Iconic Landmarks for an Astonishing Display”

500 Drones In the heart of Dubai's Bluewaters Island, a purpose-built platform gears up for the Dubai Shopping Festival (DSF) Drones Show. Exclusive access...

Latest Articles