PAKISTAN AND DENMARK SIGNED AN MOU FOR INVESTMENT AND DEVELOPMENT IN PAKISTAN’S MARITIME SECTOR

An MoU was signed by the Minister for Mr. Maritime Affairs Qaiser Ahmed Shaikh, on behalf of Government of Pakistan and Denmark’s Minister for Industry, Business and Financial Affairs H.E Morten Bodskov on behalf of Danish Government. Ambassador of the Kingdom of Denmark to Pakistan H.E Jacob Linulf presented the signed document. The MOU will pave the way for investment of around 2 billion dollars by Danish side in Pakistan’s maritime sector. Minister for Finance & Revenue Mr. Mohammad Aurangzeb, Minister for Commerce Mr. Jam Kamal, Minister for Industries Mr. Rana Tanveer Hussain, Director General SIFC Maj. Gen Asad-ur-Rehman, Additional Secretary Maritime Affairs Umar Zafar Sheikh and Secretary SIFC Jameel Qureshi witnessed the ceremony.

On the occasion, Federal Minister for Maritime Affairs Mr. Qaiser Ahmed Sheikh expressed his gratitude and congratulated Government of Denmark on this remarkable breakthrough in maritime sector. He hoped that the memorandum  will help the Ministry of Maritime Affairs to develop integrated logistics hubs in all ports, establish deep water container terminal in Karachi, create ship recycling facilities in Gaddani that would be compliant to International Maritime Organization (IMO) and European Union (EU) Regulations, assist Pakistan Marine Academy to upgrade its curriculum and equipment, and provide continuous technical and training assistance to Pakistani ports.

The Maritime Minister Mr. Qaiser Ahmed Sheikh also highlighted the significance of the investment being brought by Danish Companies to Pakistan’s shipping sector.The global market capital of these companies is around 175 billion Danish Krone. He further added that the Memorandum is the result of extensive dialogue and collaboration of the Ministry of Maritime Affairs and Denmark’s Government. The Danish Ambassador to Pakistan H.E Jakob Linulf also thanked the Government of Pakistan and Minister for Maritime Affairs on the signing of the MoU. Both sides reiterated their commitment to further strengthen ties for the growth of maritime sector in future.