Pakistan Welcomes $25 Million Danish Investment in Port Qasim

Federal Minister emphasized Pakistan’s strategic

importance as 90 percent of the country’s

goods are transported by sea

Business Reporter

Karachi: Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh highlighted Pakistan’s growing appeal for foreign investment, citing the $25 million investment from Denmark as a clear sign of international confidence in the country. He made these remarks as the chief guest at a dinner following the inauguration of the International Cargo Terminal Private Limited (ICT) at Port Qasim, held at a local hotel.

Danish-Pakistani Collaboration

The event saw speeches from notable figures, including Danish Ambassador to Pakistan Jakob Linulf, ICT Senior Vice President Syed Imdad Hussain Jafri, Managing Director Asim Saeed Khan, and Morten Jaepelt. Shields were presented to the chief guest and other key individuals in recognition of their contributions to the project. The ceremony was attended by prominent business community members, including Senior Muslim League leader Kanwar Qutbuddin.

Pakistan’s Strategic Role in Global Trade

Addressing the gathering, the Federal Minister emphasized Pakistan’s strategic importance as 90 percent of the country’s goods are transported by sea. He pointed out that Central Asian nations could leverage Pakistan’s sea routes for their trade needs. Minister Sheikh also highlighted Port Qasim’s financial success, reporting an income of Rs 42 billion last year. Under the guidance of Prime Minister Shahbaz Sharif, the government is working tirelessly to strengthen Pakistan’s economy. He further mentioned the impressive growth at Port Qasim, with container capacity expanding from 4,000 to 22,000 containers.

Plans for Gwadar and Investment Growth

The Federal Minister outlined ambitious plans for the future, including a desire for Gwadar Port to account for 60 percent of Pakistan’s imports and exports. He also discussed the potential for 500 ships to come to Gadani for scrapping. Sheikh noted that Pakistanis living abroad had sent 35 percent more remittances last year, reinforcing the country’s favorable investment climate. He reassured investors of unrestricted opportunities and favorable conditions for growth.

Danish Ambassador Praises Longstanding Friendship

In his address, Danish Ambassador Jakob Linulf praised the ICT project as a symbol of the enduring partnership between Denmark and Pakistan. He emphasized that the collaboration marked a new chapter in the 75-year-long friendship between the two countries, with future investments expected. He also praised Karachi for its beauty and the warmth of its people, reaffirming Pakistan’s status as a safe destination for investment.

Commitment to Green Energy and Sustainability

Syed Imdad Hussain Jafri, Senior Vice President of ICT, highlighted the solar energy system integrated into the project, sending a strong message about Pakistan’s commitment to sustainable and green energy. He emphasized the country’s awareness of climate change challenges and its efforts to promote a pollution-free society.

Looking Ahead: Expanding Future Projects

Managing Director of ICT Asim Saeed Khan expressed gratitude to Denmark for its cooperation and reiterated the commitment to establishing more projects in the future, aimed at fostering further growth and development.

Conclusion

With foreign investment like Denmark’s $25 million contribution, Pakistan continues to improve its infrastructure and enhance its role in global trade, with a clear focus on sustainability and economic development. The collaboration between Denmark and Pakistan signals a bright future for the country’s maritime and trade sectors.