KPT to get back container terminal after 21 years

The Cabinet Committee on Inter-Governmental Commercial Transactions on Monday endorsed the decision of the Maritime Affairs Ministry to hand over the container terminal to the Karachi Port Trust (KPT).

Now, the KPT will take charge of the terminal following the expiry of a 21-year-old contract with the Pakistan International Container Terminal (PICT) on June 17, 2023, officials said.

The committee held its maiden meeting with Finance Minister Ishaq Dar in the chair.

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The meeting reviewed the summary regarding the concession agreement with the PICT to operate the container terminal.

The meeting was informed that the agreement between the PICT would expire on June 17 and the ministry had decided to give charge of running the terminal to the KPT.

After due deliberations, the committee endorsed the ministry’s decision.

The meeting was attended by Maritime Affairs Minister Faisal Sabzwari, Energy Minister Khurram Dastgir, Law Minister Azam Nazir Tarar, Minister of State for Petroleum Musadik Malik and others.