TC May-Jun 2022 Issue

TRADE CHRONICLE
Hutchison Ports Pakistan to sponsor technical
training for the underprivileged youth
Hutchison Ports Pakistan, the country’s
deep-water container terminal, has
partnered with The Hunar Foundation
to support the underprivileged
young students in Pakistan. The
partnership is part of Hutchison
Ports Pakistan’s CSR programme
titled ‘Teach for Tomorrow’, which is
in line with Hutchison Ports’ Dock
School educational initiative and is
designed to provide financial support
and technical training to facilitate the
youth to build their future.
The young aspirant students will
be enrolled in different training
programs, including
Electrical Technology,
Mechanical Technology
(Machinist & Welding),
Heat, Ventilation,
Air Conditioning &
Refrigeration (HVACR)
and Mechatronics
(Robotics and Industrial
Automation). The
training program will
PIBTL plans to bring more efficiency
to cargo handling operations
Pakistan International Bulk Terminal
Limited (PIBT) has released
performance details for the period
ended March 31, 2022. Its revenue
stands at Rs 7.469 billion during nine
months of July - March 2022 whereas
gross profit at Rs 1.930 billion during
this period.
During the period, the Company has
handled 6,171,696 tons of cargo against
7,181,957 tons in the same period last
year, which is in line with the industry
demand for imported coal. The
Company's management focuses on
strategies to bring more efficiency to
cargo handling operations and provide
unparalleled services to its customers.
During the period, the Company
has posted a net loss after taxation
primarily due to the impact of currency
devaluation on USD-denominated
foreign loans.
Going Forward
Corresponding to the business
performance above, which is consistent
with the industry demand, the
last for a total
duration of
six months,
starting from
July till December 2022.
While commenting on this
development, Capt; Syed Rashid Jamil,
Head of Business Unit, Hutchison
Ports Pakistan, said, “Given the current
economic slump and the issues our
country has with low GDP growth
despite a large youth population,
developing competent workforces for
tomorrow can serve as a concrete and
long-term solution. Our partnership
with The Hunar Foundation is in line
with the same objective. Hutchison
Ports Pakistan intends to create a
sustainable change by helping young
Company is committed to
enhancing shareholders'
value while improving
the productivity of cargo
handling operations with an overall
vision to mitigate the environmental
and proficiency concerns at the
country's port infrastructure and
enhance our shareholders' value.
In the end, the Board of Directors of
the Company would like to reiterate
their commitment to operating
efficiently Pakistan's first state-of-theart
mechanized bulk cargo terminal
for the handling of Coal, Clinker &
Cement, compliant with international
standards of excellence, which will
curtail environment pollution and
modernize the port infrastructure of
the country.
The Company entered into a Build
Operate Transfer (BOT) contract
with Port Qasim Authority (PQA)
on November 06, 2010, for the
construction,
development,
operations and management of a coal
and clinker/ cement terminal at Port
Muhammad Bin Qasim for thirty years.
May - Jun - 2022
students’ education as a first step, as
well as improving their livelihoods
through providing work opportunities
at our terminal.”
“Any part of technical training that
might offer a young person the
means to earn a living for their
family is crucial,” Abbas Akberali,
Founding Board Member of The
Hunar Foundation, said during the
collaboration. “I am delighted that
Hutchison Ports Pakistan is partnering
with us to achieve our shared goal
of imparting life and other skills to
produce all-around, excellent human
beings for society”, he added.
Hutchison Ports Pakistan’s initiative
of supporting inclusive and
equitable education
of the students
and later providing
them internship
opportunities at
its terminal in
the Engineering
department is truly a
testament to its longterm
commitment to a
sustainable future.
Ahsan says Gwadar
completely neglected
in last four years
Federal Minister
for Planning
Ahsan Iqbal has
said that Gwadar,
the gateway of
China-Pakistan
E c o n o m i c
Corridor, has
been completely
neglected in the last four years.
He was talking to the media after his
meeting with the Vice-Chancellor
Government College University Lahore
Asghar Zaidi.
He said that due to negligence the
depth of the port was decreased from
18 meters to 11 meters and it is not
possible for a large ship to anchor
at the port. Only small ships were
anchored there. He termed it as a
criminal negligence against CPEC.
Earlier, during his meeting with the
Vice-Chancellor GCU, Ahsan Iqbal
has stressed the need for modernizing
teaching methodologies in the higher
education institutions.
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