Islamabad: The federal government has announced a new incentive package for Karachi Port and Port Qasim as part of its strategy to make Pakistan’s ports a regional transshipment hub, with the aim of reducing costs for shipping companies and further promoting trade activities.
According to Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, under the new policy, transshipment ships will be given up to 80 percent discount in port handling charges, while wharfage charges at Karachi Port have also been significantly reduced. This move is an attempt to make port operations more competitive and attract international shipping companies to Pakistan’s ports.
According to the announcement, free storage facility will be provided for containers at Karachi Port for 14 days and in TPX area for 30 days. Similarly, wharfage has been completely waived at Port Qasim, while free storage will be available at terminals for an initial period of 7 days, which can be extended for another 21 days as per the requirement.
The Minister for Maritime Affairs said that container terminals have also reduced terminal handling charges by up to 25 percent, which is expected to reduce import and export costs and facilitate the logistics sector.
He added that all old SROs and notifications related to transshipment have been abolished so that the new policy can be implemented in a simple, transparent and uniform manner.
According to analysts, if these incentives are effectively implemented, Pakistan’s ports can become more attractive for transshipment in the region, which will also brighten the prospects of increasing maritime trade, investment a
