PM Sharif calls for improving goods transportation at Karachi port amid Pakistan trade push

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Prime Minister Shehbaz Sharif receives briefing about Hutchison Ports Pakistan Terminal at the Karachi Port in Karachi on July 7, 2024. (Photo courtesy: PMO)
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In this handout photo, taken and released by Prime Minister’s Office, Pakistan Prime Minister Shehbaz Sharif chairs a meeting regarding Karachi Port Trust, Port Qasim Authority and Pakistan National Shipping Corporation in Karachi on July 7, 2024. (Photo courtesy: PMO)
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Updated 07 July 2024
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PM Sharif calls for improving goods transportation at Karachi port amid Pakistan trade push

  • The prime minister says Central Asian states have expressed deep interest in using Pakistan’s ports for trade
  • Premier asks officials to keep Lyari Expressway open round the clock to ensure uninterrupted transportation

ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to improve transportation of goods at the Karachi port during his visit to the southern Pakistani city, Sharif’s office said on Sunday, amid Pakistan’s push to boost trade to support its fragile economy.
The prime minister issued the directives at a meeting he presided over with regard to the Karachi Port Trust, Port Qasim Authority and Pakistan National Shipping Corporation in Karachi, where he is expected to meet the business community during the day-long visit.
Sharif said Pakistan held a key geographical position in the region and provided the most convenient sea trade route for the Central Asian states, citing his recent meetings with Russian President Vladimir Putin and Central Asian leaders in Kazakhstan.
“Central Asian states have expressed deep interest in using Pakistan’s ports for trade,” the prime minister was quoted as saying by his office. “Through modern system at ports and improved access to them, Pakistan can earn billions of dollars in foreign exchange.”
He directed authorities to keep the Lyari Expressway open for cargo round the clock to ensure uninterrupted transportation of goods to and from the Karachi Port Trust.
The Malir Expressway should be connected with the seaport to ensure swift delivery of goods, he said, adding instructing officials to enhance railways’ capacity to shift goods to the Karachi port.
“He stressed the need to ensure early installation of state-of-the-art scanning machinery at the seaports and called for steps for the capacity building of Pakistani ports to take full advantage of their potential,” Sharif’s office said.
The prime minister instructed authorities to decrease customs clearance time by installing modern equipment and machinery at the Karachi Port Trust and Port Qasim.
Pakistan aims to enhance its role as a pivotal trade and transit hub connecting Central Asian republics with the rest of the world by leveraging its strategic geographical position.
The South Asian country has invested in infrastructure projects like roads, railways and pipelines while seeking greater economic connectivity under the China-Pakistan Economic Corridor (CPEC) initiative. In April this year, Pakistan opened its trade gateway to Central Asia with first potato shipment to Tajikistan.
During his day-long visit, Sharif is expected to meet business community in Karachi — Pakistan’s largest financial and industrial hub and home to over 20 million people.
The city has a vibrant business community and several industrial sites, but its deteriorating law and order situation and poor infrastructure have frustrated traders, who have regularly sought interventions from the government to resolve some of the metropolis’ teething issues.
“He is also expected to meet a delegation of businessmen from the export and import sectors,” Sharif’s office said, adding that the premier would be briefed on increasing the country’s national income, facilities for the business community and reforms in the export and import sectors.
“Important decisions will be taken in this regard,” it added.


Pakistan’s first female central bank governor dies at 71

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Pakistan’s first female central bank governor dies at 71

  • Shamshad Akhtar led the State Bank of Pakistan from 2006 to 2009 and later served twice as caretaker finance minister
  • Finance Minister Muhammad Aurangzeb describes Akhtar as an accomplished economist and an outstanding human being

KARACHI: Shamshad Akhtar, Pakistan’s first woman to serve as governor of the central bank and one of the country’s most internationally experienced economic policymakers, died at the age of 71, officials said on Saturday.

Akhtar led the State Bank of Pakistan from 2006 to 2009, becoming the first and only woman to lead the institution since its establishment in 1948. She later served twice as caretaker finance minister, overseeing fiscal management during transitional governments ahead of the 2018 and 2024 general elections.

According to local media reports, Akhtar died of cardiac arrest.

President Asif Ali Zardari expressed sorrow over her passing in a statement.

“The president paid tribute to her services in the field of economics and financial management, noting her contribution to strengthening economic governance in the country,” the presidency said, adding that he extended condolences to the bereaved family and prayed for the departed soul.

Finance Minister Muhammad Aurangzeb described Akhtar as a highly accomplished economist and an outstanding human being.

“Dr. Shamshad Akhtar was a dignified, principled and wise voice in Pakistan’s economic history,” he said.

He said she served Pakistan with integrity and dedication across several senior economic roles, adding that her national service would always be remembered with respect.

At the time of her death, Akhtar was serving as chairperson of the Pakistan Stock Exchange, a role that placed her at the intersection of Pakistan’s monetary policy, fiscal management and capital markets.

Beyond Pakistan, she held senior positions at major international institutions, including the World Bank, the Asian Development Bank and the United Nations Economic and Social Commission for Asia and the Pacific.

Born in Hyderabad, she was educated in Karachi and Islamabad and held advanced degrees in economics from institutions in Pakistan and the United Kingdom.

Akhtar was widely regarded as a technocrat known for institutional discipline, policy continuity and a strong commitment to economic reform.

With input from Reuters