In the efforts of the Special Investment Facilitation Council (SIFC), Danish Danish shipping and logistics leader A.P. Moller-Maersk has unveiled plans to invest in Pakistan.
Over the next two years, the company will channel $2 billion into enhancing Pakistan’s port and transport infrastructure, significantly improving these crucial sectors and bolstering the nation’s economic growth.
Qaiser Ahmed Sheikh, the Federal Minister for Maritime Affairs, announced that the latest budget removed the sales tax on processing plants, fisheries seeds, and feeds. He also confirmed the land allocation for establishing processing facilities dedicated to maritime exports.
Minister Sheikh emphasized Karachi’s pivotal role in Pakistan’s economy, noting its substantial potential to boost exports. He urged the business community to engage actively in these developmental efforts, highlighting that the conducive environment fostered by the Ministry of Maritime Affairs and the initiatives from SIFC will substantially advance Pakistan’s maritime and transport sectors, thereby enhancing national economic stability.
Later this month, Minister Sheikh will visit Denmark to finalize a memorandum of understanding between Maersk Shipping and Logistics Company and the Karachi Port Trust. Founded in 1904, Maersk is a global powerhouse in shipping and logistics, integral in facilitating international trade.
