Latest news with #NationalLogisticsCorporation
Express Tribune
18-05-2025
- Business
- Express Tribune
Pakistan identifies six new trade corridors
Listen to article Pakistan has identified six potential trade corridors connecting Central Asia, Europe and Russia through China, Afghanistan and Iran. These include road networks from Karachi to Moscow via China and Kazakhstan, from Gwadar to Moscow via Afghanistan and through Turkmenistan and Iran to Azerbaijan and Russia. Speaking at the closing session of the Kazan Forum, Federal Minister for Communications Abdul Aleem Khan stated that Pakistan did not merely aspire to serve as a transit point between South Asia and Central Asia but rather aimed to function as an economic bridge, said a press release issued on Saturday. He emphasised that Pakistan had been actively engaged in regional cooperation through various agreements signed in recent years and via proactive participation in the Shanghai Cooperation Organisation. He highlighted that the Mazar-e-Sharif to Kohat railway project was expected to cost approximately $633 million. Meanwhile, the Gwadar Port has begun shipment and cargo services as Pakistan intends to facilitate Central Asia's access to warm waters. The federal minister reiterated Pakistan's deep interest in enhancing North-South connectivity in the communications sector, adding that the Sukkur-Hyderabad Motorway (M-6) was a focal project for good investment. He said that since 2023, the National Logistics Corporation (NLC) had been providing cargo services to Uzbekistan and Kazakhstan. Moreover, in August last year, Pakistan introduced a visa-on-arrival facility for citizens of 126 countries to promote trade and investment. Abdul Aleem elaborated on Pakistan's strategic plans to connect Karachi, Quetta and Gwadar with Central Asia and Europe through road networks. Also, work is continuing on a pilot project to build a railway line to Russia via Iran. He welcomed the organisation of the Kazan Forum and reaffirmed Pakistan's commitment to playing an active role in regional development. He particularly expressed gratitude to Russian President Vladimir Putin for hosting the forum. On the sidelines of the event, the federal minister held a bilateral meeting and a joint session with Russian Deputy Prime Minister Marat Khusnullin, accompanied by their respective delegations. Discussions centred on enhancing bilateral cooperation across various sectors with particular emphasis on investment in the communications sector. The minister expressed Pakistan's strong interest in developing a broad-based partnership with Russia. The Russian deputy PM underscored Moscow's desire for comprehensive regional development and mutual collaboration. He welcomed Pakistan's participation in the Kazan Forum and expressed willingness to strengthen cooperation with Islamabad in economic, cultural and other fields.
Express Tribune
06-05-2025
- Business
- Express Tribune
Kazakhstan offers strong commercial incentives
Listen to article Economic strategists and regional experts say the new Kazakhstan under President Kassym-Jomart Tokayev offers strong guarantees for foreign investments, along with substantial incentives and facilitation — opportunities Pakistani businesses should actively pursue. The active involvement of the respective chambers of commerce, the establishment of a Joint Pakistan-Kazakhstan Chamber of Commerce, and the integrated role of trade attachés are crucial. Regularly hosting expos and festivals for each country, as well as finalising a Preferential Trade Agreement (PTA) or Free Trade Agreement (FTA), will strengthen ties. Additionally, the digitalisation effortsconsidering that Kazakhstan is the leading advocate for AI and IT in Central Asia — along with the development of reciprocal software and trade houses, as well as the production of petrochemicals, would create mutually beneficial opportunities for both parties. These recent Memorandums of Understanding (MoUs) offer a strong platform for Pakistani businessmen and investors, enhancing trans-regional connectivity, fostering socio-economic integration, promoting qualitative industrialisation, and extending access to the Eurasian Middle Corridor and beyond. Evidently these MoUs would foster cooperation and investments in joint ventures and investments in preferential areas. Formation of "joint investment company" and "investment bank" may be a workable idea which must be materialised in the days to come. Railway link and logistics between Kazakhstan, Turkmenistan, and Iran could be extended to Pakistan to promote bilateral trade and enhance people-to-people contacts. Expert in regional economy, Dr Mehmoodul Hassan Khan said the role of Pakistan's National Logistics Corporation (NLC), Trade Development Authority (TDAP), Special Investment Facilitation council (SIFC) will be important for early finalisation and implementation of these projects.
Arab News
19-03-2025
- Business
- Arab News
$2.2 million lost daily as 600 Iranian trucks stuck at Pakistan border, senate body told
ISLAMABAD: A representative from Tehran told a Pakistani parliamentary panel this week an estimated daily economic loss of $2.2 million was being caused by Iranian trucks stuck on the border with Pakistan over the past six months due to new customs rules, a press release said. Pakistan last year made it compulsory for Iranian transporters to provide a bank guarantee equivalent to the customs duties and taxes imposed on goods being delivered to the National Logistics Corporation (NLC) Dry Port Quetta via Taftan, a border crossing with Iran. Tehran does not demand similar guarantees from Islamabad. 'One of the most pressing issues discussed was the ongoing crisis at the Pakistan-Iran border, where over 600 trucks carrying trade goods have been stuck due to customs officials demanding court orders,' the Senate Standing Committee on Finance said in a press release after its meeting. The Iranian representative at the meeting said each truck carried goods worth approximately $11,000 and the delay was costing traders about $100 per day per truck, which ultimately raised the price of goods for consumers. 'The drop in the number of trucks crossing the border in the past six months has led to an estimated daily economic loss of $2.2 million,' the statement quoted the Iranian official as saying. The senate committee would now write a letter to Prime Minister Shehbaz Sharif urging him to take up the matter at the next cabinet meeting. 'This issue has reached a critical point. It is not only a matter of economic losses but also a matter of national pride. The situation is deeply concerning for the country as a whole,' said Saleem Mandiwalla, the chairman of the committee. Pakistan imports from Iran stood at $943.29 million during 2023, according to the United Nations COMTRADE database on international trade. Official figures for current annual trade were not available but local media outlet Business Recorder, citing Iran's ambassador to Pakistan, last year reported bilateral trade worth over $2 billion. Earlier this month, Pakistan and Iran signed a memorandum of understanding aimed at increasing bilateral trade volume to $10 billion. Pakistan and Iran have had a history of rocky relations despite a number of commercial pacts, with Islamabad being historically closer to Saudi Arabia and the United States. Their highest-profile agreement is a stalled gas supply deal signed in 2010 to build a pipeline from Iran's South Fars gas field to Pakistan's southern provinces of Balochistan and Sindh. Despite Pakistan's dire need of gas, Islamabad has yet to begin construction of its part of the pipeline, citing fears over US sanctions — a concern Tehran has rejected. Pakistan said it would seek waivers from the US, but Washington has said it does not support the project and warned of the risk of sanctions in doing business with Tehran. Despite facing possible contract breach penalties running into the billions of dollars, Islamabad last year gave the go-ahead for construction of an 80-km (50-mile) stretch of the pipeline.
Express Tribune
16-03-2025
- Business
- Express Tribune
CCP okays DP World Logistics' acquisition
Listen to article The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of a 60% shareholding in DP World Logistics FZE by the National Logistics Corporation (NLC). The Share Purchase Agreement between the parties was reached due to extensive efforts by the Special Investment Facilitation Council (SIFC) of Pakistan to invigorate economic growth in the country. National Logistics Corporation (NLC), founded in 1978, is a state-owned entity governed by the National Logistics Corporation Act 2023 under the laws of Pakistan. It operates in the logistics, infrastructure, and transportation sectors, providing freight and logistics services both domestically and internationally. The relevant product market for this transaction has been defined as 'Road Freight Logistics,' encompassing the transportation of goods and cargo via road networks. Geographically, the relevant market is identified as 'Pakistan,' given that NLC primarily operates within the country, and the joint venture will also conduct its operations domestically. Following an in-depth analysis of the merger, the CCP determined that the transaction would not lessen competition or create or strengthen a dominant position in the relevant market, as defined under Section 2(1)(e) read with Section 3 of the Competition Act, 2010. Therefore, the CCP has authorized the transaction under Section 31(1)(d)(i) of the Act, as it does not pose any significant competition concerns. This merger is expected to generate synergies without restricting competition. DWLF's entry into Pakistan's logistics market is anticipated to enhance supply chain efficiency rather than create exclusivity concerns. Additionally, no significant concerns arise regarding coordinated effects post-merger, reducing the likelihood of collusion.
Express Tribune
13-02-2025
- Business
- Express Tribune
Sialkot Dry Port made TIR hub
Listen to article SIALKOT: National Logistics Corporation (NLC), in collaboration with the business community of Sialkot and other stakeholders, made Sambrial Dry Port as a TIR (International Road Transport) hub, empowering exporters to have direct access to the vast markets of Central Asia, Russia and beyond. With the activation of Sialkot Dry Port Trust, Sumbrial as a TIR hub, exporters and importers can now leverage hassle-free, door-to-door services for full container load and less container load from Sialkot to Central Asia and Russia. According to a statement, NLC will offer sealed transit throughout the entire journey without the need for exchange of trucks or cross-loading of goods at borders. Other important features are cargo insurance and the tracking of shipment during transit. "The streamlined connectivity paves the way for expanded market opportunities, reducing transit times and enhancing export competitiveness," it said. Marking the beginning of this transformative development, the first convoy of NLC trucks embarked on their journey from Sialkot to Uzbekistan and onwards to Russia. A launching ceremony was held at Sialkot Dry Port Trust, which was attended by senior officials from the trust, NLC, Customs, prominent members of trade associations representing sports goods, surgical equipment, leather and other industries. Speaking on the occasion, the representatives of the business community hailed NLC's initiative as a major breakthrough that would significantly reduce transit time and transportation costs, enhancing the competitiveness of Pakistani export products in regional markets.
