Karachi to become a major port city, says Minister for Maritime Affairs – RS News

Karachi to become a major port city, says Minister for Maritime Affairs

Karachi to become a major port city, says Minister for Maritime Affairs – this would save billions of dollars of precious foreign exchange.

Federal Minister for Maritime Affairs, Ali Haider Zaidi shares his will and hope to convert Karachi into a major port city. He is of the view that the city will be connected with developed and well-maintained infrastructure.

The minister said:

This will boost not only investors’ confidence but all also facilitate existing industries to establish a supply chain that will ultimately bolster Pakistan’s exports, substantially,

The minister explained his views with examples of ports transforming the cities with infrastructure development necessary for industries and the adjacent export processing zones that have transformed countries into trade and manufacturing hubs.

Quoting the example of New York, the minister said the incumbent government introduced business-friendly policies that have requisite potential to attract foreign direct investment.

The report further told that such policies would give rise to the private shipping sector and the government has the role of a regulator.

This would be saving billions of dollars of precious foreign exchange being spent on the annual freight bill.

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