Islamabad June 13 2023: KPT will take over the charge of operating the activities of the Pakistan International Container Terminal by June 17, 2023 decided by Cabinet Committee on Inter-Governmental Commercial Transactions.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the first meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT), today.
The CCoIGCT considered and deliberated on a summary of Ministry of Maritime Affairs about the existing 21 years old Concession Agreement of KPT with Pakistan International Container Terminal (PICT) for operating the Container Terminal which is going to expire on 17th June, 2023.
The Committee endorsed the decision of the Ministry of Maritime Affairs that after the expiry of the agreement with PICT on 17th June, 2023, KPT will take over the charge of operating the activities of the Container Terminal.
Federal Minister for Maritime Affairs Syed Faisal Ali Sabzwari, Federal Minister for Power Mr. Khuram Dastagir Khan, Federal Minister for Law and Justice Senator Azam Nazir Tarar, Minister of State for Petroleum Mr. Musadik Malik, SAPM on Finance Mr. Tariq Bajwa, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Secretary Finance, Secretary Maritime Affairs, Secretary Law & Justice, and other senior officers attended the meeting.
PICT is mainly engaged in providing container terminal management services. Currently the Company has a Build, Operate and Transfer (BOT) contract with Karachi Port Trust (KPT) for the exclusive construction, development, operations and management of a common user container terminal at Karachi Port for a period of twenty-one years commencing June 18, 2002. The Company is a subsidiary of ICTSI Mauritius Limited whereas its ultimate parent company is International Container Terminal Services Inc., a company incorporated in Philippines.
