ISLAMABAD: DP World, in collaboration with Pakistan’s National Logistics Corporation (NLC), launched a feeder service this week to transport shipping containers from Dubai to Karachi, state media reported.
A global logistics giant operating in over 75 countries, DP World specializes in port operations, terminal management and logistics services. Feeder services use smaller vessels to transport containers between regional ports, reducing shipping costs and transit time.
“DP World and National Logistics Corporation (NLC) have started the feeder service for shipping containers from Dubai’s Jebel Ali port to Karachi,” Radio Pakistan reported on Thursday.
“The Group Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, inaugurated the feeder service,” it added.
The weekly service promises faster and more reliable container delivery, directly benefiting the business community and boosting economic activity in the region.
The initiative also aims to enhance trade connectivity and strengthen economic ties between the United Arab Emirates (UAE) and Pakistan.
The UAE, one of Pakistan’s largest trading partners, has played a key role in modernizing the South Asian country’s ports and establish them as transit trade hubs. By optimizing global sea lanes, Pakistan seeks to bolster its economy and attract greater international trade opportunities.
Top officials from DP World, NLC and Port Qasim attended the launch ceremony, highlighting the strategic importance of this initiative for regional trade dynamics.
New feeder service launched between Dubai and Karachi to strengthen trade ties
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New feeder service launched between Dubai and Karachi to strengthen trade ties
- UAE has been modernizing Pakistani ports, trying to turn the South Asian country into a transit trade hub
- Pakistan aims to bolster economy, attract international trade opportunities by optimizing global sea lanes
Pakistan slashes power tariff for industries by Rs4.4 per unit to spur growth
- The development comes as Pakistan navigates a long path to economic recovery under a $7 billion IMF program
- The reduction in electricity tariffs will allow exporters to offer more competitive prices, increase profits margins
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday announced a Rs4.4 cut electricity tariffs for industrial consumers, saying the move is aimed at lowering production costs and spurring economic activity in Pakistan.
Sharif made the announcement while addressing businessmen and exporters at a ceremony in Islamabad, at which he presented awards to business figures who made significant contributions to the national economy.
He said the government would devise all future economic policies in consultation with the business community and there was no alternative to export-driven economic growth.
“Four rupees and four paisas per unit are being reduced in electricity tariffs for industry,” the prime minister announced at the ceremony.
“If it were up to me, I would reduce it by another 10 rupees, but my hands are tied.”
The development comes as Pakistan, which has long struggled with boom-bust cycles, seeks to boost foreign investment and increase exports, navigating a long path to economic recovery under a $7 billion International Monetary Fund (IMF) program.
The reduction in electricity tariffs for industrial consumers is expected to lower production costs that will allow exporters to offer more competitive prices in international markets, increase profit margins and encourage higher capacity utilization at factories.
The prime minister announced lowering wheeling charges for industry by Rs9 per unit, noting the country’s economy had stabilized, inflation had come down to single digits and the policy rate stood at 10.5 percent.
In Pakistan, wheeling charges are fees paid by electricity consumers and generators to use the national grid’s transmission and distribution network to move electricity from suppliers to end-users under the Competitive Trading Bilateral Contracts Market (CTBCM).
“I think this should help you sell your power to neighboring industries,” he told businesspersons at the event.
