Pakistan, Dubai Signed $3bn Agreements

Pakistan, Dubai Signed $3bn Agreements

Lahore: The government of Pakistan and Dubai have signed a remarkable investment pact worth over $3 Billion. The areas of agreements include economy, railways, and infrastructure development. Additionally, Freight Corridor, Logistics Park, and Freight Terminals are also included. DP World representing Dubai will lead the projects. The agreement will significantly enhance the functional capabilities of Port Qasim in Karachi while lowering the logistics costs.
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Pakistan Railways will be playing a crucial in the implementation of this revolutionary project. And Ministry of Maritime Affairs will also be part of the project offering services in dredging of the navigation channel at Port Qasim.
The pact will be attracting a whopping foreign direct investment (FDI) of around $3 billion. The development of an economic zone at Port Qasim, Karachi will also add value to the economic stability in Pakistan.
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Mr. Shahid Ashraf Tarar, Federal Minister of Communication, Railways, and Maritime Affairs, highlighted the importance of this collaboration on the governmental and institutional level. This will also add to the Pakistan operational capability of freight at ports.
Chairman DP World, Sultan Ahmed bin Sulayem expressed his views and pride in leading the project while strengthening the bilateral ties between both the countries. He also emphasized on importance of this pact and that Pakistan will further increase its presence in the regional trade landscape.
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