Nishat Group agrees to explore investment in Pakistan's proposed new port
Maritime Minister Junaid Anwar Chaudhry met group chairman Mian Muhammad Mansha; the ministry statement gave no investment figure, port location or timeline.
Nishat Group has told the federal maritime affairs ministry it is willing to invest in Pakistan's proposed new port, after a meeting between Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and the group's chairman, Mian Muhammad Mansha.
APP and Business Recorder both reported the development from a ministry statement. Neither disclosed the size of any planned investment, the location of the port or a timeline for building it.
According to the statement, the minister told Mansha that the government wanted greater private-sector participation in mobilising investment, bringing in modern technologies and expanding the country's port infrastructure.
He said building additional port facilities was strategically important for strengthening the maritime economy, improving trade connectivity and raising Pakistan's capacity to handle growing cargo volumes.
The minister also said the government was committed to a business-friendly environment and to facilitating domestic and foreign investors interested in the maritime sector.
Business Recorder described Nishat Group as one of Pakistan's largest business conglomerates, and described Mansha as one of the richest people in the country. The newspaper reported that he expressed interest and agreed to explore investment opportunities in the new port, pointing to public-private collaboration as a route to serving export-oriented industries and developing what it called Pakistan's real export potential.
Junaid said another port would open new avenues for economic growth, create employment and strengthen Pakistan's position as a regional trade and logistics hub.
The statement did not give the proposed port's capacity, its funding structure or when construction might begin. It also did not say whether other companies or foreign investors had been approached about the project.
Business Recorder said the statement was issued on Friday. APP datelined its report from Islamabad on November 13.
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