Islamabad: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, convened a meeting with the Governor of Khyber Pakhtunkhwa, Mr. Faisal Karim Kundi, at the Finance Division. The discussions focused on the economic situation, financial activities in the province, challenges, and opportunities following the merger of FATA, as well as the impact of law and order on the local economy.
According to Press Information Department, the meeting also addressed measures at both provincial and federal levels to ensure law and order in affected areas and to foster a secure business environment in Khyber Pakhtunkhwa. ZCZC
Qaiser Ahmed Shaikh Pledges Support to Danish Investors in Maritime Sector
Islamabad: H.E Jackob Linulf, the Ambassador of Denmark, met with Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh to discuss the implications of a Memorandum of Understanding (MoU) in the maritime sector, ahead of a visit by the Danish Foreign Minister. The Minister described the MoU with Maersk Line, facilitated by the Danish Government, as a significant milestone for Pakistan’s maritime industry. This marks the first instance of a company committing to invest USD 2 billion in the sector, and Shaikh assured full support to Denmark’s government and investors.
According to Press Information Department, Shaikh expressed hope that the MoU with Maersk Line would evolve into a formal agreement upon the arrival of Danish Foreign Minister Lars Lokke Rasmussen. He noted that the government is eager to welcome the minister, highlighting the longstanding friendly relations between the two nations. Shaikh has instructed all ports and relevant maritime authorities to create a comprehensive framework to support Maersk’s investment.
The Minister also chaired a performance review meeting of port authorities to address potential issues before the anticipated foreign investment. He stated that port authorities are committed to facilitating foreign investors, emphasizing the potential for ports to contribute 8-10% of the country’s GDP. A mechanism has been developed to ensure transparency in investments within the maritime sector.
Shaikh assured that Pakistan’s maritime security is robust enough to safeguard foreign investors, and he anticipates that the investment will enhance the ship recycling industry, Pakistan Marine Academy, and port capacities. He thanked the Danish government and Maersk Line’s management and acknowledged the efforts of the Ministry of Maritime Affairs, Special Investment Facilitation Council (SIFC), and Ministry of Foreign Affairs in attracting foreign investment.