Minister highlights Pak’s maritime growth at global summit

KARACHI: Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh addressed the Global Maritime Trade Summit, organised by the International Chamber of Shipping, emphasising Pakistan’s growing role in global trade and the country’s improved maritime infrastructure.

The minister highlighted that 90 per cent of global trade is reliant on shipping and noted the significant upgrades made to Pakistan’s ports, attracting major international players like Maersk, MSC and Hutchison Ports to invest in the country’s maritime sector.

Sheikh pointed to Pakistan’s strategic location, with easy access to China, Central Asia, and the Middle East, and highlighted the untapped potential of deep ports at Port Qasim and Gwadar, which currently operate below capacity. He also pointed to the rapid development of the Gwadar Port, with plans for 50 per cent of trade to be routed through it soon.

The minister further stressed on Pakistan’s commitment to environmental sustainability in its maritime sector. He announced that the country is switching to carbon-free ships and is working in line with the International Maritime Organization’s decarbonisation standards. He also mentioned that Pakistan has signed the Hong Kong Convention to move towards green energy for the shipping industry.Sheikh also revealed that a new maritime policy will be introduced soon, offering tax incentives and facilities for foreign investors to promote further growth in the sector.