Maersk to Invest $2 Billion in Pakistan’s Port and Transport Infrastructure, Boosting Maritime Sector

Danish shipping conglomerate Maersk has announced a substantial investment of $2 billion in Pakistan’s port and transport infrastructure over the next two years. This strategic investment, facilitated by the Special Investment Facilitation Council (SIFC), is aimed at enhancing the country’s maritime and transport sectors, with a focus on port development, terminal upgrades, dredging, transshipment, and road construction.

Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh revealed that a Memorandum of Understanding (MoU) will be signed between Maersk Shipping Company and the Karachi Port Trust during his upcoming visit to Denmark. This MoU is expected to formalize the collaboration and set the stage for significant advancements in Pakistan’s maritime infrastructure.

In a related development, Minister Sheikh highlighted recent budgetary measures that have eliminated sales tax on processing plants, fisheries seeds, and feed within the maritime sector. These tax exemptions are part of the government’s broader effort to create a conducive business environment and stimulate investment in the country’s marine exports.

Sheikh further emphasized the untapped potential of Karachi as a hub for increasing exports. He reiterated the Ministry of Maritime Affairs’ commitment to fostering a business-friendly atmosphere, urging the business community to actively participate in this development drive.

The $2 billion investment by Maersk is viewed as a pivotal moment for Pakistan’s maritime and transport sectors. The SIFC initiative, which played a crucial role in facilitating this investment, is expected to bring about significant progress in these sectors, contributing to the overall economic growth and stability of the country.