Karachi: United Arab Emirates (UAE) is 'keen' to invest in Karachi Port terminal operations, citing sources. Sources said UAE wants to equip Karachi Port terminals with latest technology for smooth handling of shipments. Sources claimed that agreement regarding terminal handling with UAE will be inked before June 30. Finance Minister Ishaq Dar and Maritime Affairs Minister Faisal Sabzwari are finalising conditions of agreement with UAE.

Sources said, panel has been permitted to finalise draft operation, maintenance, investment and development agreement under government-to-government arrangements with nominated agency of UAE for handing over Karachi Port terminals.

Earlier this year, government formed an eight-member committee to begin outsourcing three major airports in Pakistan Islamabad, Karachi and Lahore.

Committee wrote letter to managers of all three major airports and directed them to provide data of airports' Aviation Ministry. Pakistan is in a financial crisis amid uncertainty over revival of $ 6.5 billion deal with International Monetary Fund.

Published in The Daily National Courier, June, 21 2023

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