Pakistan is exploring the potential of transferring ownership of Karachi Port terminals to the UAE for Funds.

As per a media report, the Pakistan government is reportedly contemplating the transfer of control over its Karachi port terminals to the United Arab Emirates (UAE) as a means of raising funds. The matter was discussed in a meeting chaired by Finance Minister Ishaq Dar, where it was decided to form a panel tasked with negotiating a commercial agreement between the Karachi Port Trust (KPT) and the UAE government.

The panel, headed by Faisal Sabzwari, the Minister for Maritime Affairs, will be responsible for finalizing a comprehensive draft agreement that encompasses the operation, maintenance, investment, and development of the Karachi port terminals. The interest of the UAE government in acquiring these terminals was previously expressed when they were under the administration of the Pakistan International Containers Terminals (PICT).

This strategic move aligns with Pakistan’s ongoing efforts to generate immediate funds by leveraging the Intergovernmental Commercial Transactions Act, which facilitates the expedited sale of state-owned assets.

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