Karachi Shipyard to build Pakistan’s first major commercial ship in 40 years

In this photograph taken on November 8, 2016, a helicopter flies over the wreckage of a burnt out ship which was hit by a gas cylinder explosion on November 1, at the Gadani Shipbreaking Yard, some 50 kilometres west of Karachi. (AFP/File)
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Updated 14 December 2024
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Karachi Shipyard to build Pakistan’s first major commercial ship in 40 years

  • Pakistan’s premier investment body SIFC revives 1100 TEU Container Ship Project, says state broadcaster
  • Project to feature collaboration among navy, Karachi shipyard and Pakistan National Shipping Corporation

ISLAMABAD: Pakistan’s premier investment body has revived a shipbuilding project through which the Karachi Shipyard will build the country’s first major commercial ship in four decades, state broadcaster Radio Pakistan reported on Saturday.

The 1100 TEU Container Ship Project, which had been on hold for nine months, has been revived by the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body formed in 2023 to facilitate foreign investment in Pakistan’s key economic sectors. 

The cargo shipbuilding project will feature collaboration between the Pakistan Navy, Karachi shipyard, and Pakistan National Shipping Corporation, the state media said. 

“Under this project, Karachi Shipyard will locally construct its first major commercial cargo ship after forty years,” Radio Pakistan said. 

It said the 24.75-million-dollar contract provides an opportunity for Pakistan to build ships at a cost lower than international market rates. 

“This is a key step toward reducing dependence on foreign shipping companies and promoting Pakistan’s economic self-sufficiency,” the state media said. 

Pakistan has sought to reduce its dependency on bailout programs and aid from allies in recent years. The South Asian country has said it aims for export-oriented growth and wants to reduce its imports to save valuable foreign exchange amid a macroeconomic crisis. 


Sindh chief minister pledges compensation within two months after Karachi plaza fire

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Sindh chief minister pledges compensation within two months after Karachi plaza fire

  • Murad Ali Shah says government is working with Karachi chamber to help shopkeepers restart businesses
  • January fire that killed at least 67 brought safety of Karachi’s commercial buildings under sharp focus

KARACHI: Sindh Chief Minister Murad Ali Shah said on Friday compensation for shopkeepers affected by last month’s deadly Gul Plaza shopping mall blaze would be released within two months amid calls for improved fire safety regulations to protect commercial buildings in Karachi.

The fire at Gul Plaza in January killed at least 67 people and left more than 15 missing, triggering renewed criticism of lax enforcement of building codes and emergency preparedness in Pakistan’s largest city.

Authorities said the blaze spread rapidly through the multi-story commercial complex, complicating rescue efforts and raising questions about wiring, access routes and fire safety systems in older markets.

“The government in collaboration with the Karachi Chamber is actively working to help shopkeepers restart their businesses and aims to ensure that compensation is provided within two months so that the shopkeepers can buy inventories to restart their businesses,” the chief minister said while addressing the inauguration of the My Karachi Exhibition, an annual trade and consumer exhibition, according to an official statement.

He said temporary locations had been identified where shopkeepers could operate rent-free until reconstruction is completed, paying only basic maintenance costs.

Shah reiterated the Sindh administration’s commitment to provide Rs 10 million ($36,000) to the families of those who died in the fire, along with immediate relief of Rs 500,000 ($1,785) for affected shopkeepers.

He said Gul Plaza would be rebuilt within two years “in the same manner and with the same number of shops,” adding that the new structure would be safer and constructed “without a single square inch extra.”

Business leaders at the event called for stricter enforcement of fire safety standards across Karachi’s commercial districts, citing unregulated electrical wiring and poor compliance as recurring causes of deadly market fires.