Karachi (HRNW)- Federal Minister for Maritime Affairs Junaid Anwar Chaudhry has announced a historic transshipment incentive package for Karachi ports, introducing a comprehensive policy aimed at transforming Pakistan into a regional transshipment hub.
In a statement, the minister said that reforms in the maritime sector are progressing in line with the vision of Prime Minister Shehbaz Sharif, adding that port trade has witnessed significant improvement under the leadership of the Chairman Karachi Port and Port Qasim authorities.
Junaid Anwar Chaudhry said a historic reduction in the handling cost of transshipment cargo has been approved to enhance the competitiveness and operational efficiency of Pakistan’s ports.
Under the new package, transshipment vessels will receive up to an 80 percent concession in port handling charges. At Karachi Port, wharfage charges will be reduced by 20 to 80 percent, while 14 days of free storage will be provided. In addition, cargo stored in the TPX area will receive 30 days of free storage.
The Minister for Maritime Affairs further announced that Port Qasim will offer a 100 percent concession in wharfage charges, along with seven days of free storage, which can be extended to 21 days.
He also said that container terminals have reduced terminal handling charges by up to 25 percent to further facilitate shipping companies and cargo operators.
Chairman Karachi Port Rear Admiral (Retd.) Shahid Ahmed said vessels carrying larger volumes of transshipment cargo will receive greater incentives. He added that the new package is expected to significantly reduce the turnaround time of ships at Pakistani ports.
The Minister also announced that all previous transshipment SROs and notifications have been abolished, paving the way for the implementation of the new unified incentive policy.
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