Latest news with #EricIp
Business Recorder
23-05-2025
- Business
- Business Recorder
Modern tech at ports: PM praises role of Hutchison Ports
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said Pakistan is providing all necessary facilities to international investors and taking steps to make investment policies more business-friendly. Speaking with Eric Ip, chief executive officer (CEO) of Hutchison Ports, Sharif said the company's nearly three-decade presence in Pakistan reflects confidence in the country's economic direction. He said Hutchison Ports is playing a key role in introducing modern technology at Pakistan's ports, including the installation of advanced scanners for customs assessment. Ip said the company is working to upgrade Karachi Port with modern technology and called Pakistan a favourable destination for investment, expressing interest in expanding Hutchison's presence in the country. Copyright Business Recorder, 2025
Arab News
22-05-2025
- Business
- Arab News
Pakistan PM says Hong Kong conglomerate key to introducing advanced tech at Karachi Port
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday applauded a Hong Kong-based conglomerate for playing an important role in modernizing Karachi Port by introducing advanced technologies like modern scanners for customs assessments, said an official statement. The statement was issued after a Hutchison Ports delegation, led by Chief Executive Officer Eric Ip, met Sharif, Finance Minister Muhammad Aurangzeb, Maritime Affairs Minister Junaid Anwar Chaudhry and Economic Affairs Minister Ahad Cheema to discuss the company's operations in Pakistan. Hutchison Ports, a subsidiary of Hong Kong conglomerate CK Hutchison Holdings Limited, has been operating two terminals in Pakistan, contributing over $804 million in government revenues and providing employment to 5,000 individuals. 'Modern technology is being introduced at ports in Pakistan, with Hutchison Ports playing an important role,' the PM Office quoted Sharif as saying. 'Hutchison Ports' services will prove valuable in establishing modern scanners for customs assessment at domestic ports.' Sharif said the investments made by Hutchison Ports in Pakistan for three decades were 'a reflection of confidence in Pakistani economic policies.' On the occasion, the CEO of Hutchison Ports said the company was taking steps to introduce modern technology at Karachi Port and expressed a desire to invest more in Pakistan in the future. In March, Hutchison Ports said it planned to invest $1 billion in Pakistan to improve its port infrastructure. Later the same month, Pakistan's maritime affairs minister and a Hutchison Ports official discussed the 'swift execution' of the proposed investment. Pakistan has been working to boost foreign trade while seeking international partnerships to expand maritime activities. On Jan. 22, South Korean shipping company HMM launched the India North Europe Express (INX) weekly shipping service in Pakistan, providing the country with direct access to Europe. Earlier, Dubai-based logistics giant DP World, in collaboration with Pakistan's National Logistics Corporation, launched a feeder service to transport shipping containers from Dubai to Karachi. Pakistani officials and DP World have also finalized terms for a freight corridor project from Karachi Port to the Pipri Marshalling Yard in southern Pakistan.
