Latest news with #MuhammadJunaidAnwarChaudhry
Arab News
11 hours ago
- Business
- Arab News
Pakistan signs MoU with Chinese firm for vessels, funding to boost shipping sector
KARACHI: Pakistan on Thursday signed a memorandum of understanding (MoU) with China's Shandong Xinxu Group to deepen cooperation in ship leasing, sales and crew management, marking what officials described as a 'new chapter' in maritime collaboration between the two countries. The agreement between the Pakistan National Shipping Corporation (PNSC) and the Chinese firm is part of Islamabad's broader push to modernize its shipping industry to enhance seaborne trade, Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said during the signing ceremony in Islamabad. 'This agreement marks the beginning of joint development,' Chaudhry said. 'It will strengthen Pakistan's role in the growth of the shipping industry and create an enabling environment for further investment in the maritime sector.' Under the MoU, the Chinese company has principally agreed to provide capital and vessels to PNSC, with cooperation covering ship acquisition, leasing, marketing and operational services. The announcement comes just days after Pakistan halved port charges at Karachi Port, the country's largest deep-sea facility, as part of a series of reforms aimed at cutting logistics costs and supporting low-emission, climate-resilient maritime practices. 'By lowering operational costs and streamlining logistics, we are not only boosting trade competitiveness but also contributing to climate resilience,' Chaudhry said over the weekend. The ministry has also decided to deploy technologies such as artificial intelligence and drones to monitor port activity and reduce container dwell times by up to 70 percent. Shandong Xinxu is one of several Chinese firms expanding investment in Pakistan under the multibillion-dollar China-Pakistan Economic Corridor (CPEC) cooperation.
Express Tribune
5 days ago
- Business
- Express Tribune
Govt to build Rs3b aquaculture park
Listen to article The federal government has decided to establish a state-of-the-art Aquaculture Park at Korangi Fish Harbour (KoFHAH), Karachi, under a public-private partnership framework aimed at boosting the country's blue economy through sustainable aquaculture. The project is estimated to cost Rs3 billion. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced the plan while chairing a high-level meeting on the development of the blue economy. The meeting was attended by Chairman Gwadar Port Authority (GPA) Noorul Haq Baloch, representatives from the Korangi Fish Harbour Authority (KoFHAH), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry. The 120-acre aquaculture park is projected to produce between 360 and 1,200 tonnes of marine products annually, depending on the species cultivated and the farming systems used. Revenue potential is estimated between $720,000 and $7.2 million per year, influenced by species selection, market prices, and production intensity. Officials informed the meeting that land costs have been determined based on an extensive farming model, offering an affordable entry point for private investors. Experts highlighted that Pakistan's coastal waters offer ideal conditions for aquaculture, making them highly suitable for farming a variety of marine species. To fast-track the initiative, the martime minister directed the Korangi Fish Harbour Authority to submit a comprehensive execution report within 10 days. Chaudhry also proposed replicating the aquaculture model in Balochistan, leveraging its vast coastal belt for sustainable marine farming. In a move to improve coordination, the maritime minister ordered the relocation of the Marine Fisheries Department sub-office to the Gwadar Port Authority premises. This administrative shift is expected to streamline inter-agency collaboration and expedite decision-making in blue economy projects. In a separate meeting, the federal minister reviewed progress on land allotment and the lease policy of Port Qasim Authority (PQA). Officials reported that the Survey of Pakistan has been tasked with identifying and demarcating PQA-owned land. It was also revealed that the PQA master plan is being revised in line with the broader feasibility study for the National Ports Master Plan, currently underway. Chaudhry reiterated the government's commitment to promoting sustainable marine development, reiterating that investment in aquaculture and port infrastructure is essential for ensuring food security, increasing exports, and creating employment across coastal regions. The series of meetings chaired by the maritime minister mark a significant step in the government's maritime development strategy, focused on harnessing the full potential of Pakistan's coastal resources through innovation, institutional coordination, and private sector participation.
Business Recorder
5 days ago
- Business
- Business Recorder
Govt announces halving port charges at Karachi Port
ISLAMABAD: The government Saturday announced to cut port charges at Karachi Port by 50 per cent, aiming to reduce the carbon footprint of trade logistics and foster sustainable growth. The decision was announced by the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, saying the initiative is part of a broader strategy to decarbonise the maritime sector and improve energy efficiency in port operations. He said reforms include a 50 per cent reduction in port handling, vessel, and storage charges, while scrapping the previously planned annual five per cent hike in these fees, a step will benefit exporters of dry bulk goods and reduce emissions through faster, less congested port activity. 'By lowering operational costs and streamlining logistics, we are not only boosting trade competitiveness but also contributing to climate resilience.' 'Climate resilience': govt cuts export cargo handling charges by 50% at Karachi Port This isn't just a financial measure; it's a pivot towards low-impact, future-ready maritime trade,' said the minister. 'A more efficient port reduces idle time for vessels, lowers fuel consumption, and supports greener supply chains.' The minister highlighted that these changes are part of a national strategy to modernise port infrastructure, enhance sustainability, and transition towards the smart maritime practices. The maritime ministry is trying to enhance port efficiency, including forming a high-level committee to cut container dwell time by 70 per cent and deploying advanced technologies such as AI and drones for monitoring operations, further underlining the government's proactive stance in modernising maritime trade logistics. Charing a meeting, the Maritime Affairs' Minister on the development of blue economy also announced the establishment of a state-of-the-art Aquaculture Park at Korangi Fish Harbour (KoFHAH), Karachi, at an estimated cost of Rs3 billion. The meeting besides others was attended by Chairman Gwadar Port Authority (GPA) Noorul Haq Baloch, representatives from Korangi Fish Harbour Authority (KoFHAH), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry. The estimated annual production of a 120-acre aquaculture park ranges from 360 to 1,200 tons, depending on the species cultivated and the farming system employed. Its annual revenue potential is projected to be between $720,000 to $7.2 million, influenced by species selection, market prices, and production intensity. The minister said the project, covering 120 acres, should be developed under a public-private partnership framework, aiming to boost the country's blue economy through sustainable aquaculture. The meeting was informed that the land cost for the Aquaculture Park has been set according to an extensive farming model, offering an affordable and efficient foundation for private investors. Experts informed the meeting that Pakistan's coastal waters possess highly conducive conditions for aquaculture, providing an ideal environment for farming a variety of marine species. To accelerate the process, the Federal Minister directed the Korangi Fish Harbour Authority to submit a comprehensive execution report within 10 days. Emphasising replication of success, the minister proposed extending the aquaculture model to Balochistan, leveraging its vast coastal belt for sustainable marine farming. In a move aimed at enhancing coordination, the minister ordered the relocation of the Marine Fisheries Department sub-office to the premises of the Gwadar Port Authority. This administrative shift is expected to streamline inter-agency collaboration and expedite decision-making in blue economy initiatives. In another separate meeting, the minister also reviewed the progress on the land allotment and lease policy of the Port Qasim Authority (PQA). Officials informed him that the Survey of Pakistan has been engaged to identify and demarcate PQA-owned land. Furthermore, it was conveyed that the revision of PQA's master plan is being aligned with the broader feasibility study for the National Ports Master Plan, currently under way. Minister Junaid Anwar reiterated the government's commitment to promoting sustainable marine development, asserting that investments in aquaculture and port infrastructure are essential for ensuring food security, increasing exports, and generating employment across coastal regions. The series of meetings held by the maritime minister marked a significant step in the government's broader maritime development strategy, focused on harnessing the full potential of Pakistan's coastal resources through innovation, institutional cooperation, and private sector engagement. Copyright Business Recorder, 2025
Arab News
5 days ago
- Business
- Arab News
Pakistan cuts Karachi port charges by 50% in climate-focused maritime reform push
ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Saturday announced a 50% reduction in Karachi Port charges, in a move aimed at cutting trade logistics costs and promoting climate-resilient, low-emission shipping practices. The reform is part of a broader strategy to modernize Pakistan's maritime sector and reduce its carbon footprint, as the country works to align trade infrastructure with global environmental standards. 'By lowering operational costs and streamlining logistics, we are not only boosting trade competitiveness but also contributing to climate resilience,' Chaudhry said in a statement issued by his office. The new measures include halving charges related to port handling, vessel services and storage while scrapping a previously planned annual five percent fee hike. Officials say the move is expected to benefit exporters of dry bulk goods and reduce emissions by improving port turnaround times and easing congestion. 'This isn't just a financial measure,' Chaudhry added. 'It's a pivot toward low-impact, future-ready maritime trade. A more efficient port reduces idle time for vessels, lowers fuel consumption and supports greener supply chains.' Karachi Port is one of Pakistan's largest and busiest deep-water seaports, handling a significant share of the country's import-export traffic. Officials say the reforms will enhance the port's efficiency while positioning it as a regional hub for climate-conscious maritime activity. The announcement follows recent steps by the ministry to improve logistics and infrastructure, including the formation of a high-level committee to reduce container dwell times by 70%, and the deployment of advanced technologies such as artificial intelligence and drones for port monitoring.
Business Recorder
5 days ago
- Business
- Business Recorder
Govt plans to establish Rs3bn aquaculture park in Karachi
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced the establishment of a state-of-the-art aquaculture park at Korangi Fish Harbour in Karachi, at an estimated cost of Rs3 billion. The minister made this announcement presiding a high-level meeting on the development of blue economy. The meeting was attended by Gwadar Port Authority (GPA) Chairman Noorul Haq Baloch, representatives from Korangi Fish Harbour Authority (KoFHA), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry. The 120-acre aquaculture park is estimated to produce 360 to 1,200 tons of seafood annually, depending on the species cultivated and the farming system employed. Its annual revenue is projected to be between $720,000 and $7.2 million, influenced by species selection, market prices, and production intensity, the Ministry of Maritime Affairs said in a press release. The World Bank defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods, and job creation, while ensuring the health of the ocean ecosystem. Minister Junaid said the project, covering 120 acres, should be developed under a public-private partnership framework, aiming to boost the country's blue economy through sustainable aquaculture. The meeting was informed that the land cost for the aquaculture park has been set according to an extensive farming model, offering an affordable and efficient foundation for private investors. Starting fish farming scheme in Sindh with World Bank support: Najmi Alam Experts informed the meeting that Pakistan's coastal waters possess highly conducive conditions for aquaculture, providing an ideal environment for farming a variety of marine species. To accelerate the process, the federal minister directed the KoFHA to submit a comprehensive execution report within 10 days. Emphasising replication of success, he proposed extending the aquaculture model to Balochistan, leveraging its vast coastal belt for sustainable marine farming. While, in a move aimed at enhancing coordination, Junaid ordered the relocation of Marine Fisheries Department sub office to the premises of the Gwadar Port Authority. This administrative shift is expected to streamline inter-agency collaboration and expedite decision-making in blue economy initiatives. In a separate meeting, the federal minister also reviewed the progress on the land allotment and lease policy of the Port Qasim Authority (PQA). Officials informed him that the Survey of Pakistan has been engaged to identify and demarcate PQA-owned land. Furthermore, it was conveyed that the revision of PQA's master plan is being aligned with the broader feasibility study for the National Ports Master Plan, currently underway. Minister Junaid reiterated the government's commitment to promoting sustainable marine development, asserting that investments in aquaculture and port infrastructure are essential for ensuring food security, increasing exports, and generating employment across coastal regions. The series of meetings held by the maritime minister mark a significant step in the government's broader maritime development strategy, focused on harnessing the full potential of Pakistan's coastal resources through innovation, institutional cooperation, and private sector engagement.
