Danish shipping company Maersk plans to invest $2 billion in Pakistan's port and transport infrastructure over the next two years, facilitated by the Special Investment Facilitation Council (SIFC). The investment will target port development, terminals, dredging, transshipment, and road construction.
Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh will visit Denmark this month to sign a Memorandum of Understanding with Maersk Shipping Company and Karachi Port Trust.
The minister announced that the budget has eliminated sales tax on processing plants, fisheries seeds, and feed in the maritime sector. The government will provide land for building processing plants for marine exports.
Sheikh emphasized Karachi's potential for increasing exports and stated that the Ministry of Maritime Affairs is creating a favorable environment for business. He called on the business community to play an active role in this development.
The SIFC initiative is expected to bring significant progress to Pakistan's maritime and transport sectors. The government views a secure and stable Pakistan as crucial for promoting growth and investment in these sectors, which in turn contributes to national economic development.
