Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry underscored the pivotal role of Pakistan’s shipping industry in bolstering international trade. Speaking at a dinner last night hosted by Aasim A. Siddiqui, Managing Director of Pakistan Intermodal Limited (PIL), and attended by senior management from shipping lines and terminal operators, the Minister emphasised the government’s commitment to modernising maritime infrastructure and enhancing operational capacities nationwide.
Minister Chaudhry highlighted that over 90% of Pakistan’s trade volume is managed through seaports, with the maritime sector contributing more than 10% to the country’s GDP and providing employment to over 2 million individuals, both directly and indirectly.
He noted that the Karachi Port Trust alone can handle over 125 million tons of cargo annually. In fiscal year 2023, the shipping sector generated approximately $235 million in revenue, with oil tankers accounting for around 70% of this total.
Addressing the financial implications of relying on foreign shipping companies, the Minister noted that Pakistan incurs an estimated $6-8 billion in annual freight charges. He emphasised the potential for significant cost savings and growth by expanding local shipping capacities and terminal operations.
He stated that the government is actively inviting global shipping companies to invest in Pakistan’s maritime sector, capitalising on the country’s strategic location. A notable initiative includes a fast-track strategy for a $1 billion investment with Hutchison Port Holdings Limited, focusing on modernising the Karachi International Container Terminal (KICT) and South Asia Pakistan Terminals Limited (SAPT).
Minister Junaid Chaudhry assured industry leaders that their concerns are being addressed through close coordination with provincial authorities, including the Chief Minister of Sindh, to ensure the implementation of a cohesive policy across all levels of governance.
Aasim A. Siddiqui welcomed the Minister’s engagement with the industry and expressed optimism that such collaborative forums would accelerate the sector’s growth trajectory. He reiterated PIL’s commitment to aligning with the Ministry’s vision by investing in modern fleet capabilities and sustainable operational practices.
The event concluded with a mutual commitment to continued dialogue and partnership between the government and maritime stakeholders, aiming to realise Pakistan’s aspirations of a modern, efficient, and environmentally responsible naval economy.
