Karachi Port Trust (KPT) will take over charge of operating the activities of the Pakistan International Container Terminal (PICT) after the expiry of the concession agreement on 17 June 2023.

Federal Minister for Finance and Revenue 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 the Ministry of Maritime Affairs about the existing 21-year-old Concession Agreement of KPT with 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 Khuram Dastagir, Federal Minister for Law and Justice Senator Azam Nazir Tarar, Minister of State for Petroleum Musadik Malik, SAPM on Finance Tariq Bajwa, SAPM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Secretary Finance, Secretary Maritime Affairs, Secretary Law and Justice, and other senior officers attended the meeting.

Source: Pro Pakistani