The current government under the leadership of Prime Minister Imran Khan aims to develop economic growth in the country and facilitate business and investments.
In this regard, the Prime Minister signed a deal with Hutchison Port Holdings, a Hong Kong-based Port Operator, and welcomed an investment of $240 million in the country. The project aims to develop Karachi Port to increase its terminal port capacity and make it a major trade hub in Asia.
In a meeting on 15 October, 2019, the Managing Director of the group, Mr. Eric Ip, briefed the Pakistani Prime Minister regarding the development of Karachi Port, the Hutchison Port Holdings and its parent company CK Hutchison Holdings. Moreover, the managing director apprised the PM about the number of employees increasing to 3,000 with the project.
With this project, the total investment of Hutchison Port Holdings in the country has amounted to $1 billion. This project reiterates the government’s commitment to work towards facilitating economic growth, investments and business within the country.
Among the dignitaries present in the meeting, Ali Jehangir Siddiqui, the Ambassador at Large for Foreign Investments stated that because of a fairly-priced currency, the exports of Pakistan were increasing and therefore, the development of Karachi Port to include increased terminal capacity was vital. According to Siddiqui, this project will increase Pakistan’s export competitiveness and result in increased revenue for both Karachi Port Trust and the federal exchequer. Read a detailed article on the project on The Express Tribune.
