ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday welcomed a $2 billion investment from global shipping giant AP Moller – Maersk, hailing it as a significant boost to Pakistan’s maritime sector.
During a meeting with Robert Maersk, chairman of the board of directors at AP Moller – Maersk, he directed authorities to fast-track the conversion of memoranda of understanding (MoUs) signed with the company last year into formal agreements.
He also directed the formation of a technical working group to accelerate the creation of a maritime collaboration agreement, with recommendations to be presented within a month.
PM Sharif stressed the need for overcoming all obstacles to elevate Pakistan’s maritime sector to global standards and said that Maersk’s investment would bring substantial positive changes to the industry.
Highlighting Pakistan’s abundant marine resources, the Prime Minister noted the government’s efforts to harness these resources for national growth and stressed the country’s increasing significance as a regional trade and transport hub.
He urged the establishment of Pakistan as a reliable economic corridor for transit trade in the region, a move he believes will further boost the economy.
PM Sharif also extended an invitation to AP Moller – Maersk to explore additional investment opportunities in Pakistan.
During the meeting, Robert Maersk expressed his interest in investing further in Pakistan’s seaports, lauding the government’s economic policies as attractive for investment. He said that the company’s global clients had shown strong interest in business opportunities in Pakistan.
Reflecting on the company’s long history in the region, Maersk noted that AP Moller – Maersk’s first ship arrived in Pakistan in 1924, and the company’s ties with the country have only strengthened over time.
He emphasised Pakistan’s crucial role as an economic corridor for trade with Central Asia, a key factor for the company, and pledged the company’s commitment to modernising Pakistan’s port logistics and equipping them with advanced technology to establish a major maritime trade hub in the region. —ZULFIQAR AHMAD
