Pakistan has decided to transfer ownership of two additional Karachi port terminals to UAE

Pakistan has granted preliminary approval to enter into a framework agreement with the United Arab Emirates (UAE) regarding the transfer of two additional terminals at Karachi port. The agreement will also encompass the development of a new, versatile cargo terminal.

The decision was made by the Cabinet Committee on Intergovernmental Commercial Transactions, which was chaired by Federal Minister for Finance Ishaq Dar. The official signing of the agreement will involve both the governments of Pakistan and the UAE.

Notably, this will be the second significant seaport terminal agreement between the two countries within a span of fewer than two months. The new terminal is specifically designated to handle various cargo types, including food items and commodities like fertilizers.

The anticipated benefits of this agreement are to strengthen trade relations between Pakistan and the UAE while fostering economic growth in the region.

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