Karachi: The Federal government has introduced a package of fiscal incentives designed to attract foreign-flagged transshipment vessels to Karachi Port, in a move to bolster its status as a regional maritime hub. The announcement was made by Junaid Anwar Chaudhry, Minister for Maritime Affairs, during a high-level meeting in Islamabad.

According to Radio Pakistan, the incentives are part of a broader strategy to enhance shipping activity and promote environmentally sustainable practices. The new structure offers significant relief in port dues and berthing charges based on performance metrics. Under the revised framework, vessels carrying dry bulk export cargo will benefit from a sixty percent concession on port dues, wharfage, and storage charges as per the Karachi Port Trust tariff.

The Minister highlighted that the incentives tied to the frequency of ship calls have been significantly improved compared to previous policies. The minimum transshipment cargo requirement has been reduced from ten percent to seven percent, a change expected to encourage more carriers to utilize Karachi Port.

Under the new policy, vessels with transshipment cargo equivalent to fifty percent of their gross registered tonnage will qualify for a flat sixty percent discount on port dues. Moreover, large container ships with at least twenty-five percent transshipment cargo will be eligible for up to a fifty percent discount on applicable wet charges. Additionally, ships using environmentally friendly fuels will receive an extra five percent reduction in berthing charges.

Junaid Chaudhry stated that the initiative is part of the government’s proactive approach to maritime trade, aiming to position Karachi as a cost-effective and efficient gateway for global shipping.