Islamabad: Prime Minister Muhammad Shehbaz Sharif emphasized the transformative potential of reforms in the maritime and energy sectors during a high-level meeting on Monday. The prime minister asserted that these changes are expected to enhance trade, reduce costs, and unlock the economic potential of Pakistan.
At the meeting, the prime minister highlighted ongoing efforts to revamp Pakistan’s port infrastructure, improve customs operations, and strengthen the maritime economy as part of a broader strategy for national economic development. He praised the task force dedicated to maritime reforms for their comprehensive recommendations aimed at overcoming longstanding challenges within the sector.
“Pakistan’s long coastline and maritime resources offer immense economic opportunities. With the right reforms, we can elevate our ports to global competitive standards,” Prime Minister Sharif stated.
The prime minister also noted the successful reduction of electricity tariffs by approximately Rs. 7.5 per unit, attributing it to the work of the energy sector reform task force. He emphasized applying a similar results-driven approach in the maritime sector to achieve comparable outcomes.
“This reduction in electricity tariffs is significant not only for households but also for sectors such as agriculture, commerce, trade, and industry. It will lower production costs, enhance local manufacturing, create jobs, and boost exports,” he added.
Sharif reiterated the importance of structural reforms in stabilizing Pakistan’s macroeconomic indicators and highlighted the potential benefits of recent global oil price declines.
The meeting included a detailed presentation on the roadmap for maritime sector reforms, covering the introduction of the Pakistan Maritime Port Act to unify port regulations, the creation of a national dredging plan, and the establishment of a National Dredging Company.
Discussions also covered the modernization of the Pakistan National Shipping Corporation through a 25-year rehabilitation plan and the inclusion of private sector partnerships. A hazardous waste disposal facility has been established in Gadani to manage chemical and industrial waste.
The prime minister instructed authorities to expedite the installation of modern scanning systems at all ports and accelerate customs clearance processes. He also called for a swift auction of long-held containers to free up port space and improve efficiency.
The task force briefed attendees on plans for financial, HR, and performance audits at national ports, as well as initiatives to enhance training and human resources at Karachi Port Trust and review trade tariffs to boost competitiveness.
Prime Minister Sharif commended the dedication of the maritime task force and other stakeholders involved in the reform agenda. He stressed the strategic importance of maritime resources for global trade and Pakistan’s economic future, emphasizing the need for timely action to remain competitive internationally.
Notable attendees at the meeting included Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Chief of Army Staff General Syed Asim Munir, and several federal ministers and senior officials.