Latest news with #JunaidChaudhry
Arab News
08-07-2025
- Business
- Arab News
Pakistan plans to slash container dwell time at ports by 70% to boost trade efficiency
KARACHI: Pakistan plans to cut container dwell time at its seaports by up to 70% to improve trade competitiveness and ease congestion, according to an official statement by the Ministry of Maritime Affairs on Tuesday, which also announced the formation of a committee to present recommendations within ten days. The initiative is part of the government's broader efforts to modernize its port infrastructure and position Pakistan as a regional trade and transit hub. Islamabad is working to increase the efficiency of its ports in Karachi and Gwadar as it seeks to expand connectivity with global markets, including plans to launch a ferry service to Gulf countries and encourage landlocked Central Asian states to use Pakistani ports for access to international sea lanes. The announcement to reduce the dwell time followed a meeting chaired by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry at the Federal Board of Revenue headquarters with senior officials from Pakistan Customs, Karachi Port Trust and other relevant bodies. 'Minister Junaid Chaudhry emphasized that reducing dwell time is not merely an administrative change, but a strategic move to enhance port efficiency, lower logistics costs and strengthen Pakistan's standing in the regional trade and logistics landscape,' the statement said. He also announced the formation of the committee and tasked its members with identifying procedural bottlenecks and proposing measures to expedite cargo clearance. Currently, container dwell time at Pakistani ports averages around a week. The government's target is to reduce this to just two days, following directives from Prime Minister Shehbaz Sharif. To support implementation, the Ministry of Maritime Affairs will establish a dedicated monitoring room to oversee real-time container movements. 'Drones and AI technology will also be deployed to monitor vessel docking operations through to the container's exit from the terminal,' the minister said during the meeting. He noted that persistent delays in container release impose additional costs on importers and exporters, diminishing Pakistan's competitiveness in international markets.
Arab News
03-07-2025
- Business
- Arab News
Pakistan eyes ‘multibillion-dollar benefits' as it plans direct ferry link to Oman
KARACHI: Pakistan and Oman have agreed to deepen maritime cooperation, including launching a direct ferry service between Gwadar and the Sultanate, in a move that Islamabad says could unlock billions of dollars in trade, investment and transit revenue. The development follows a high-level meeting on Thursday between Pakistan's Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and Oman's Ambassador Fahad bin Sulaiman bin Khalaf Al Kharusi. Both officials emphasized the need to boost maritime connectivity and capitalize on their long-standing economic and cultural ties. 'Minister Junaid Chaudhry underscored the economic potential of launching a direct ferry service from Gwadar to Oman, projecting multi-billion-dollar benefits in trade expansion, investment inflows and transit revenue,' said an official statement issued after the meeting. 'He stated that Pakistan stands to earn an estimated $10–15 billion annually through Gwadar's maritime operations, while Oman could establish a maritime corridor to South and Central Asia, significantly enhancing its regional connectivity,' it added. Earlier this week, the government announced its plan to launch a ferry service connecting Gwadar Port, a centerpiece of the China-Pakistan Economic Corridor (CPEC), to the Gulf Cooperation Council countries, aiming to strengthen regional ties, improve passenger movement and access new markets across the Middle East. Pakistan's minister of maritime affairs said his country's exports to Oman stood at $224 million in 2024, and stressed the need to scale this up through improved port infrastructure and bilateral collaboration. As part of long-term cooperation, he also offered maritime training and education opportunities for Omani students at the Pakistan Marine Academy. The Omani ambassador welcomed the proposals and emphasized the importance of expanding cultural and commercial ties. He acknowledged the positive contributions of the Pakistani diaspora to Oman's development and noted that Urdu was widely understood in his country, reflecting strong social bonds between the two nations.
Business Recorder
02-07-2025
- Business
- Business Recorder
Ministry unveils plan to expand operational capacity of Gwadar port
ISLAMABAD: The Ministry of Maritime Affairs has unveiled an ambitious plan to expand the operational capacity of Gwadar Port by establishing additional shipping lines and launching a new ferry service connecting Pakistan with the Gulf Cooperation Council (GCC) countries. This was announced by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry during a dinner with journalists after chairing a high-level meeting with senior officials of the ministry. 'The initiative is part of the government's broader strategy to enhance regional connectivity, boost maritime trade, and position Gwadar as a major hub in the Arabian Sea,' said Junaid Chaudhry. 'We aim to transform Gwadar into a strategic trans-shipment and logistics centre, benefiting Pakistan and the wider region.' The minister emphasised that with Gwadar Port now fully operational, it is time to accelerate its integration into the international maritime networks. He directed relevant departments to pursue all necessary steps to increase the port's commercial activity and unlock its full potential. He said additional shipping lines will be connected to Gwadar to facilitate greater movement of goods, promote transit trade with Central Asia and the Middle East, and support Pakistan's growing role in the regional logistics landscape. 'The new routes will reduce pressure on existing ports and ensure faster, more efficient cargo handling,' the federal minister stated. In addition to enhancing cargo operations, the ministry has also planned to launch a ferry service from Gwadar to GCC countries. This move is expected to provide an affordable, direct maritime link for passengers and cargo, and will particularly benefit expatriate communities, and cross-border traders. 'The ferry service will strengthen people-to-people ties, boost tourism, and provide a new economic lifeline for Balochistan,' the minister said, adding it will create local employment, improve supporting infrastructure, and attract private sector participation, especially in the areas of ship services, hospitality, and transportation. The ministry has initiated consultations with shipping companies, maritime authorities, and port operators to finalise technical, legal, and logistical frameworks for both the new shipping lines and the ferry service. Safety, affordability, and environmental sustainability will be key priorities in the implementation phase. The minister reaffirmed the government's commitment to fully harness the strategic importance of Gwadar. He noted that these maritime developments align with Pakistan's vision to become a regional trade corridor and enhance its blue economy, as outlined in the country's National Maritime Policy. Copyright Business Recorder, 2025
