Danish shipping company “Maersk” is set to invest a total of 2 billion dollars in Pakistan’s port and transport infrastructure over the next two years. This was stated by the Minister for Maritime Affairs Qaiser Ahmad Sheikh while talking to PTV news.
He highlighted the fact that this specific investment is likely to boost Pakistan’s economy by playing a significant role in the development of infrastructure. He told that the investment has been made possible as a result of the efforts of Investment Facilitation Council (SIFC). The Minister is most likely to visit Denmark this month to finalize the terms and sign a memorandum of understanding (MoU) between Maersk and the Karachi Port.
He said that Karachi has the potential to increase exports and the Ministry of Maritime Affairs is creating an enabling environment for the business community to tap into this potential. He also notified that the government has removed sales tax on processing plants, fishery seeds, and feed within the maritime sector to encourage growth. Moreover, land will be provided for the construction of processing plants to boost maritime exports.
