Karachi, January 12, 2025 – Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, revealed on Saturday that major global players, including Maersk Line, Dubai Ports, and Abu Dhabi Ports, are keen on investing in Pakistan’s ports and shipping sector.
The minister emphasized that Hutchison Ports is also looking to expand its investments in South Asia Ports Terminal.
Speaking at the Karachi Press Club (KPC), Sheikh noted that the country is witnessing a significant influx of foreign investment in its maritime sector. This growing interest has positioned Pakistan as a critical gateway for regional trade. According to the minister, Dubai Ports and Abu Dhabi Ports, both recognized for their global maritime influence, are particularly interested in upgrading Pakistan’s port infrastructure. He also highlighted that Maersk Line plans to contribute to the uplift of surrounding port areas in Karachi, while adopting green technologies in ship-breaking with the collaboration of Denmark.
Regarding the Gwadar Port, Sheikh shared that China holds 90 percent of the investment and management control. He revealed that the government intends to route 60 percent of the country’s public sector foreign trade through this strategic port. Sheikh expressed optimism that an improvement in law and order would attract private-sector shipping companies, further boosting the port’s importance to Pakistan’s economy.
Sheikh emphasized Pakistan’s strategic location, noting that the country’s deep-sea ports are an attractive option for landlocked Central Asian nations. These nations consider Pakistan’s ports competitive due to their proximity and modern facilities. Moreover, he mentioned that countries like Russia and Malaysia have expressed interest in utilizing Pakistan’s ports for transshipment purposes, given the country’s prime geographical position.
The maritime minister also pointed out that Pakistan’s maritime sector, contributing just 1 percent to the national GDP, holds immense untapped potential. In contrast, the global maritime sector averages a 7 percent share of GDP. Sheikh stressed the need to seize this opportunity, as Pakistan’s maritime industry has been underperforming for years due to mismanagement and internal disputes that have hindered development. He lamented that while Pakistan lagged, India advanced significantly during this period.
On the performance of public sector entities, Sheikh reported that despite the overall challenges faced by state-owned enterprises, Karachi Port Trust, Port Qasim, and Pakistan National Shipping Corporation (PNSC) collectively earned a profit of Rs. 90 billion in the last fiscal year.
Sultan Chawla, Chairman of PNSC, shared that the corporation currently owns 12 vessels, with plans to expand the fleet. He revealed that the PNSC has ordered a new container vessel from Karachi Shipyard and Engineering Works, expected to have a capacity of 1,100 containers. This vessel is projected to be delivered in two years. Additionally, Chawla emphasized efforts to increase foreign trade handled by PNSC, which would help conserve valuable foreign exchange for the country.