Dubai’s Ports, Customs, and Free Zone Corporation (PCFC) Chairman, Sultan Ahmed bin Sulayem, and Pakistan’s Federal Minister of Communication, Railways, and Maritime Affairs, Shahid Ashraf Tarar, sealed two pivotal inter-governmental framework agreements at the World Economic Forum in Davos.
DP World, acting on behalf of the Dubai Government, will collaborate with Pakistan Railways and the Port Qasim Authority to develop a Dedicated Freight Corridor extending from Karachi Port to the Pipri Marshalling Yard, enhancing efficiency and cutting logistics costs.
A second agreement involves dredging the navigation channel and establishing an economic zone at Port Qasim, targeting over $3 billion in foreign direct investment. DP World, representing the Dubai Government, will undertake the capital dredging and construct the economic zone to stimulate economic activity in Pakistan.
Sultan Ahmed bin Sulayem emphasised the importance of these initiatives in integrating Pakistan into the wider region, while Shahid Ashraf Tarar highlighted the mutual trust and partnership, positioning Pakistan as a crucial gateway to Asia.
