Karachi (Commerce Desk): Federal Minister for Maritime Affairs Junaid Anwar Chaudhry has announced a special transshipment incentive package for Karachi’s ports, aimed at making Pakistan a major transshipment hub in the region.
In his statement, the Minister for Maritime Affairs said that maritime sector reforms are continuing in line with the vision of the Prime Minister, while port trade is being promoted under the leadership of Karachi Port and Port Qasim.
Junaid Anwar Chaudhry said that a decision has been taken to reduce the handling cost of transshipment cargo in order to improve the performance and global competitiveness of Pakistani ports.
He said that transshipment vessels will receive up to 80 percent relief in port handling charges. Wharfage charges at Karachi Port will be reduced by 20 to 80 percent, along with free storage facilities for up to 14 days. In addition, free storage for 30 days will also be available in the TPX area.
According to the Minister for Maritime Affairs, Port Qasim will offer a full 100 percent waiver on wharfage charges, while terminals there will provide a 7-day free storage facility, which can be extended up to 21 days.
He further said that container terminals have also reduced terminal handling charges by up to 25 percent.
Karachi Port Chairman Rear Admiral (Retd.) Shahid Ahmed said that ships bringing higher volumes of transshipment cargo will receive additional incentives, which will significantly reduce the time vessels spend at ports.
The Minister for Maritime Affairs further announced that all previous transshipment SROs and notifications have been abolished, and a new policy has been implemented.