CCoIGCT approves price mechanism for Karachi port deal with UAE

MG News | August 04, 2023 at 10:00 AM GMT+05:00

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August 04, 2023 (MLN): The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) considered a summary of Ministry of Maritime Affairs regarding the Commercial Agreement between AD Ports UAE and KPT for out-sourcing of the operations of Bulk and General Cargo East Wharf Karachi Port, in a meeting chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar yesterday.

As per the press release issued, the CCoIGCT after discussion approved the Price Discovery Mechanism in the light of discussion.

CCoIGCT constituted a committee to negotiate and frame a commercial agreement to be signed between the nominated agencies of the UAE and Pakistan for the development of Bulk and General Cargo Terminal at West Wharf, Karachi Port.

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