The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) has recommended the commercial agreement between Karachi Port Trust (KPT) and Abu Dhabi Ports (ADP) UAE for approval by the Federal Cabinet.

Federal Minister for Finance and Revenue Ishaq Dar chaired the meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) today.

The CCoIGCT considered a summary of the Ministry of Maritime Affairs regarding recommendations of the negotiation committee on the commercial agreement to be signed between KPT and AD Ports UAE.

It was informed that the negotiation committee constituted by CCoIGCT held its meetings on 19th, 20th, and 21st June 2023 under the chairmanship of the Minister for Maritime Affairs and negotiated the commercial agreement for acquiring operation, maintenance and development rights of the Container Terminal by the AD Ports UAE.

The CCoIGCT, after a detailed discussion and comparative evaluation of the ToRs, recommended the commercial agreement for approval by the Federal Cabinet.

Federal Minister for Maritime Affairs Syed Faisal Ali Subzwari, Federal Minister for Commerce Syed Naveed Qamar, Minister of State for Petroleum Musadik Masood Malik, SAPM on Finance Tariq Bajwa, Attorney General of Pakistan, Secretary Finance, Secretary Maritime Affairs, Secretary Law & Justice, and other senior officers attended the meeting.

Source: Pro Pakistani