The governments of Pakistan and Dubai have signed two intergovernmental framework agreements to improve their cooperation in the maritime and logistics fields. One of the agreements pertains to the possible creation of an Economic Zone and a Freight Corridor close to Karachi.
Shahid Ashraf Tarar, Pakistan’s Minister of Communication, Railways, and Maritime Affairs, and Sultan Ahmed bin Sulayem, Chairman of Ports, Customs, and Free Zone Corporation (PCFC), Dubai, inked the agreements during the World Economic Forum in Davos, Switzerland.
The Dedicated Freight Corridor aims to stretch 45 kilometres from Karachi Port on the Arabian Sea through Karachi and end at the Pipri Marshalling Yard. This will lower the overall logistics cost while increasing efficiency and shortening transit times.
With its main office in Lahore, Pakistan Railways is the nation’s state-owned railway operator, managing around 8,000 kilometres of rail from Torkham in the northwest to Karachi in the south.
To dredge the navigation channel, a second framework agreement was inked with the Ministry of Maritime Affairs of Pakistan. DP World will complete the capital dredging on behalf of the Dubai government.
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