A. P. Moller to Invest $2B in Pakistan’s Maritime Sector
Staff Report
Islamabad: The global shipping company A. P. Moller- Maersk is set to invest $2 billion in Pakistan in shipping industry.
Chairman of the board of directors of A. P. Moller – Maersk Mr. Robert Maersk Uggla called on Prime Minister Muhammad Shehbaz Sharif here on Tuesday.
The Prime Minister welcomed the global shipping company’s investment of $2 billion in Pakistan.
Pakistan had signed the memorandums with A. P. Moller last year. The prime minister directed the concerned ministry to transform into agreements as soon as possible.Govt Plans to Cut Trade Tariffs at Sea Ports
The Prime Minister has directed to form a technical working group to expedite the process of forming a partnership agreement in the maritime sector with a global shipping company.
The Prime Minister has directed the working group to submit recommendations within a month.
“Now is the time to remove all obstacles and bring the maritime sector to global competitive standards, the Prime Minister said adding that the investment in Pakistan by A. P Moller will bring about a large-scale positive change in Pakistan’s maritime sector.
He said that Pakistan had been blessed with vast maritime resources, and by taking advantage of the potential of this sector, government was trying to use these resources for the betterment of the country.
In the recent global scenario, Pakistan’s importance has been increased as a corridor for trade and transportation in the region,” Prime Minister said adding that for the development of the country’s economy, it is essential to establish Pakistan as a reliable and effective economic corridor for transit trade in the region.
In the meeting, the Prime Minister invited A.P. Moller to explore more investment opportunities in Pakistan.
Pakistan plays a key role in the region as an economic corridor for trade with Central Asian countries, which is extremely important for our company, Maersk said and expressed interest in investing in Pakistan’s seaports.
We are trying to establish a unique hub for sea trade in the region by equipping Pakistan’s ports with the latest logistics system and latest technology, Robert Maersk said and lauded the government’s economic policies and called them attractive for attracting investment.
