Federal Minister for Finance and Revenue Senator Ishaq Dar presided over the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) meeting on a Wednesday.
Discussion on G2G Agreement for Karachi Port Development
The CCoIGCT reviewed a Ministry of Maritime Affairs summary concerning the G2G agreement between Pakistan and the UAE for the development of a Bulk and General Cargo Terminal at East Wharf, Karachi Port Trust (KPT), under the Inter-Governmental Commercial Transaction Act, 2022.
Negotiations and Committee Formation
Following an extensive deliberation, the Committee authorized negotiations on the Framework Agreement. It also established a committee comprising the Secretary of Law & Justice, the Secretary of Maritime Affairs, and representatives from the Ministry of Foreign Affairs and Finance to conduct negotiations with the Government of UAE.
Federal Minister for Maritime Affairs Syed Faisal Ali Subzwari, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir, Minister of State for Petroleum Musadik Malik, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Secretary Finance, Secretary Maritime Affairs, Secretary Law & Justice, Secretary Commerce, and other senior officers were present at the meeting.
