- Home
- Pakistan
- Govt vowed to eliminate losses of public sector departments to move forward: Qaiser Sheikh
Govt Vowed To Eliminate Losses Of Public Sector Departments To Move Forward: Qaiser Sheikh
Muhammad Irfan Published January 11, 2025 | 10:30 PM
KARACHI, (UrduPoint / Pakistan Point News - 11th Jan, 2025) Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh on Saturday said the federal government committed to eliminate losses of the public sector departments as country could not move forward without taking such decisions.
He expressed these remarks while talking to the media during his visit to Karachi press club.
Federal Minister also congratulated the newly elected KPC office bearers.
Qaiser Sheikh said that due to the lack of improvement in regional trade with neighbouring countries, 90 percent of the country’s trade depends on the sea. The profit of Karachi Port Trust was $ 2 billion in 2023 which increased to $ 10 billion in 2024, while Port Qasim also earned a profit of Rs 42 billion.
He said that the loss of government institutions has exceeded Rs 6000 billion in five years. Pakistan cannot move forward without eliminating the losses of government departments.
Minister said that foreign companies were looking forward to invest in Pakistani Ports. Maersk Line is investing $2 billion, Abu Dhabi Port, Dubai World company were planning more investments. Maersk Line has offered to improve the infrastructure of the areas around the ports, Sheikh said.
He said that with the cooperation of Denmark, green technology will be used for ship breaking.
The Federal Minister said that 90 percent investment in Gwadar.l is of China and the government took a decision that 60 percent of public sector imports will come from Gwadar port. He said improving the law and order situation in Gwadar will attract shipping companies.
Pakistan National Shipping Corporation Chairman Sultan Chawla said that PNSC was going to buy ships from Malaysian shipping lines. He said that PNSC has only 12 ships and its goal is to add one to two ships to its fleet every year. Karachi Shipyard has been ordered to build a fleet consisting of 1100-container ship. The container ship will be ready by the end of 2026. A draft policy for the development of PNSC has been prepared and sent to the ministry for its approval.
Karachi Press Club Vice President Irshad Khokhar, Secretary Sohail Afzal Khan, Treasurer Imran Ayub, Joint Secretary Muhammad Munsif, Governing Body members Mona Siddiqui, Manzoor Sheikh, Hammad Hussain and others were also present on the occasion.
Earlier, KPC Vice President Irshad Khokhar and Secretary Karachi Press Club Sohail Afzal Khan welcomed the Federal Minister Qaiser Ahmed Sheikh on arrival at the club.
The visiting guests were presented gifts of Ajraks by the Karachi Press Club office bearers.
