Trade Chronicle May June 2017

TRADE CHRONICLE
Building of additional oil storage
capacities at Keamari
oil installation area
A high level meeting was chaired by
Senator Mir Hasil Khan Bizenjo,
Federal Minister for Ports & Shipping
to discuss “Building of
Additional Oil Storage
Capacities at Keamari Oil
Installation Area” held at
Pakistan National Shipping
Corporation recently.
This meeting was attended
by government stakeholders
including Chairman PNSC,
Chairman KPT, officials
from Ministry of Defence, Pakistan
Navy, Pakistan State Oil, PARCO,
PRL, NRL, OCAC and other
stakeholders from private sector.
The Federal Minister for Ports &
Shipping emphasized the importance
of increasing and efficiently utilizing
already available oil storage capacity
in the country as these are critical to
security and the growth of the national
economy.
Further, he highlighted the losses
being incurred by the national
economy as a result of inefficiencies
in the crude oil and oil products
discharge and storage/handling
capacity of oil at KPT and the
Keamari Oil Installation Area (OIA).
he stressed the need to urgently
address these inefficiencies in the
national interest through consensus
between the stakeholders.
The Minister directed KPT to identify
the available land for utilizing it towards
increasing of storage capacity at
Keamari. He said increase would
facilitate in increasing import
efficiencies. The Minister also instructed
OMCs to find ways and means of
increasing efficiencies at their end.
At the end Minister
i n f o r m e d t h e
participants that he
will take up the
matter with the Prime
Minister of Pakistan
on the importance of
improving crude oil
and oil products
handling at Keamari.
He said that the matter of NOC would
be taken up with National Security
Council (NSC) and shall be duly
reviewed by the Cabinet Committee
on Defence Planning to allow
exemption to PNSC for increasing
storage/handling capacity of oil at
Keamari, which will resultantly
improve the port infrastructure.
Three multifunctional piers
create 20,000 jobs for locals
Gwadar, the third deep-water port in
Pakistan, now operates three
multifunctional piers with an annual
throughput capacity of between
50,000 and 70,000 20-foot equivalent
units, as well as bringing 20,000 jobs
to locals.
KPT earns Rs1.3bn this
year, Senate panel told
Karachi Port Trust (KPT) has
earned Rs1.3 billion in 2016-17 so
far, while total revenue generated
in 2014-15 and 2015-16 stood at
Rs1.89 billion and Rs1.6 billion,
respectively.
The port will also serve as a trade
gateway for East and Central Asian
countries to other parts of the world,
according to Chairman, China
Communications Construction Co
(CCCC) Liu Qitao.
After the completion of the
construction, CCCC will also be
responsible for a series of follow-up
projects, such as the operation of a
free-trade zone at Gwadar Port, he
told local media. After completion of
60 percent of first-phase construction
of Gwadar's free zone, the Chinese
engineers and their Pakistani
counterparts are hoping to open the
free zone for operation as early as
possible, Hu Yaozong, deputy general
manager of the Gwadar Free Zone
Company said.
Karachi Port Trust Chairman, Vice
Admiral, Shafqat Jawed (Retd),
informed this to Senate Standing
Committee on Ports and Shipping
recently.
Chairman KPT distributes cash award cheques of 2 lac rupees amongst the KPT cricket team
players for winning the KCCA trophy for Karachi Port Trust.
TRADE CHRONICLE - May.~Jun. 2017 - Page # 34