This would help enhance cargo volume at Pakistani and Indian ports which result in competitive shipping rates, says a statement from Port Qasim Authority issued here Saturday.Minister for Ports and Shipping, Senator Babar Khan Ghauri has welcomed the approval of this new protocol by India and said it would attract private investors to shipping sector as now the shippers under Pakistani flag would have great operational scope with free movement of cargo to and from any country. This would boost the economy of the country.This, he said, would accelerate the private sector participation which would also generate employment opportunities and help reduce poverty.Director General, Ports and Shipping, Capt Anwar Shah hailing the endorsement of the protocol by Indian Cabinet said informal trade in the shipping sector was around $2 billion but now the benefits would go to both countries as there would be no double handling of cargo.Pakistan already has Mega-I, private sector vessel, flying Pakistan flag. Now Mega-II and Mega-III would join the shipping fleet under Pakistani flag, which are currently operating under Sri Lanka flag. He said Habibullah Group had done the feasibility for a private shipping line. It has already secured the licence.Nissan Shipping had also stated, according to the press release, that it would get a licence after the signing of the shipping protocol to operate under Pakistani flag.Federal Minister for Ports and Shipping Babar Khan Ghauri had earlier stated that Karachi-Mumbai ferry service would start soon after the revised shipping protocol is signed.
New shipping protocol to boost Indian - Pakistan economy
This would help enhance cargo volume at Pakistani and Indian ports which result in competitive shipping rates, says a statement from Port Qasim Authority issued here Saturday.Minister for Ports and Shipping, Senator Babar Khan Ghauri has welcomed the approval of this new protocol by India and said it would attract private investors to shipping sector as now the shippers under Pakistani flag would have great operational scope with free movement of cargo to and from any country. This would boost the economy of the country.This, he said, would accelerate the private sector participation which would also generate employment opportunities and help reduce poverty.Director General, Ports and Shipping, Capt Anwar Shah hailing the endorsement of the protocol by Indian Cabinet said informal trade in the shipping sector was around $2 billion but now the benefits would go to both countries as there would be no double handling of cargo.Pakistan already has Mega-I, private sector vessel, flying Pakistan flag. Now Mega-II and Mega-III would join the shipping fleet under Pakistani flag, which are currently operating under Sri Lanka flag. He said Habibullah Group had done the feasibility for a private shipping line. It has already secured the licence.Nissan Shipping had also stated, according to the press release, that it would get a licence after the signing of the shipping protocol to operate under Pakistani flag.Federal Minister for Ports and Shipping Babar Khan Ghauri had earlier stated that Karachi-Mumbai ferry service would start soon after the revised shipping protocol is signed.