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Arab News
08-04-2025
- Business
- Arab News
PM directs speedy container clearance, attractive tariffs at Pakistan ports as part of maritime reforms
ISLAMABAD: Prime Minister Shehbaz Sharif has instructed officials to speed up the process of container clearance and ensure attractive trade tariffs at Pakistani ports, his office said on Monday, as the South Asian country undertakes maritime reforms to boost its economy. Pakistan, which averted a default in 2023, is currently navigating an economic recovery path under a $7 billion International Monetary Fund (IMF) program and has undertaken several reforms in various sectors. A taskforce is working on sustainable reforms in the maritime sector to end the long-standing stagnation in Pakistan's maritime economy, according to the prime minister. 'Pakistan has been bestowed with a long coastline, sea and other unlimited resources,' Sharif was quoted as saying at a meeting of the maritime taskforce he presided over in Islamabad. 'A plan should be made to minimize the duration of the presence of containers at the ports,' he said, asking authorities to auction containers available at the ports as soon as possible to better utilize the port space. During the meeting, officials informed the prime minister that a National Dredging Plan (NDP) has been formulated keeping in mind the country's needs for the next ten years. It will help set up a National Dredging Company for dredging of all the ports, according to Sharif's office. A plan of action has also been prepared for the rehabilitation and reconstruction of the Pakistan National Shipping Corporation (PNSC) through public-private partnership for the next 25 years. Similarly, a plant is being established in Gadani, Balochistan to dispose of chemical waste and other hazardous materials, while the Pakistan Maritime Port Act is in the final stages, which will implement uniform rules and regulations at all ports. On the occasion, Sharif said the development of economy is linked to marine resources and access to them. 'The pace of installing the latest scanners at all ports should be accelerated,' he said. 'Trade tariffs should be reviewed to bring the country's ports to a competitive standard.'
Express Tribune
07-04-2025
- Business
- Express Tribune
'Maritime, energy reforms to boost trade'
Prime Minister Shehbaz Sharif on Monday said that the reforms in maritime and energy sectors would boost trade, reduce costs, and unlock Pakistan's economic potential. The prime minister made these remarks while chairing a high-level meeting to review progress on the government's wide-ranging reforms in the maritime sector. He emphasized that comprehensive efforts were underway to transform country's port infrastructure, streamline customs operations, and strengthen the country's maritime economy for long-term national benefit. He hailed the task force on maritime reforms for its diligent work and praised their efforts in preparing a comprehensive set of recommendations that aim to end decades-long stagnation in the sector. "Pakistan has been blessed with a long coastline and vast maritime resources. With the right reforms, we can unlock immense economic potential and bring our ports to global competitive standards," Prime Minister Shehbaz said. He noted that reduction in electricity tariff of almost Rs7.5 per unit was a direct result of the focused work of a dedicated task force on reforms in energy sector. The premier stressed that the same results-driven model was now being applied to the maritime sector. "This electricity tariff reduction is a major relief not only for households but also for all sectors like agriculture, commerce, trade, and industry. It will bring down the cost of production, improve local manufacturing, generate employment, and enhance exports," he stated. The prime minister noted that structural reforms remained central to the government's economic strategy, which had already stabilized Pakistan's macroeconomic indicators. He also highlighted the opportunity presented by the recent drop in global oil prices, and assured that the government was working to harness its long-term benefits for Pakistan's economy. The meeting reviewed a detailed presentation on the roadmap for maritime sector reforms. The participants of the meeting were briefed on introduction of the Pakistan Maritime Port Act, unifying regulations across all ports, creation of a national dredging plan, including the formation of a National Dredging Company to serve ports across the country. The forum also discussed modernization of the Pakistan National Shipping Corporation (PNSC) with a 25-year rehabilitation plan and inclusion of the private sector through public-private partnerships. It was informed that a hazardous waste disposal plant was set up in Gadani to manage chemical and industrial waste.
