Pakistan’s Prime Minister Shehbaz Sharif highlighted the potential for boosting the country’s foreign exchange reserves through the development of modern seaports. During his visit to Karachi, the Prime Minister emphasized the importance of enhancing Pakistan’s ports to provide efficient trade routes to regional countries, especially Central Asian States.
Key Points:
– The Prime Minister noted that by facilitating sea trade for countries like China and the Central Asian States through Pakistani ports, the country could significantly increase its foreign revenue.
– Leaders from Central Asian States have shown a keen interest in utilizing Pakistan’s ports for trade, recognizing the country’s strategic significance in the region.
– Emphasizing the need for modernization and improved access to ports, the Prime Minister stressed the importance of enhancing existing port facilities in Karachi to drive economic growth.
– Steps to reduce customs clearance time and enhance port operations were highlighted, with a focus on increasing exports through value addition industries.
– The Prime Minister directed the implementation of a comprehensive action plan for regulating shipping laws and reducing operational costs for effective port management.
– The development of the private sector, ease of doing business, and investor convenience were underscored as top government priorities.
The visit comes following an invitation extended to Tajikistan to leverage Pakistani seaports for transit trade, demonstrating the country’s commitment to fostering regional trade partnerships. Efforts to install advanced scanning technology at ports were also emphasized to streamline container inspection processes and enhance operational efficiency.
Overall, the Prime Minister’s visit highlighted the government’s commitment to promoting trade, enhancing port infrastructure, and facilitating smoother trade routes for regional connectivity. The focus on leveraging Pakistan’s strategic geographical location to bolster economic growth and foreign exchange reserves underscores the country’s determination to strengthen its position as a key player in regional trade dynamics.
