Trade Chronicle May - June 2020

Ports & Shipping
KPT continues to operate
despite the global pandemic
Karachi Port Trust (KPT) is
operating round the clock
even during the pandemic
Covid-19 lockdown situation.
Port activities have been
declared by federal and
provincial governments as
essential services to keep the
economic wheel of the
country in momentum.
Being the economic gateway
of Pakistan, KPT has taken all
r e q u i s i t e o p e r a t i o n a l
measures in liaison with concerned
government departments to ensure that
cargo handling at the port remains
unaffected during the lockdown period.
Special storage and warehousing is
provided to the cargo being handled at
the port under the complexities arising as
a result of lockdown. Additionally, KPT has
given unprecedented waiver in
demurrage period to the trade
community.
Under the policy guidelines and
the port.
c o n t i n u o u s
supervision of the
honourable Minister of
Maritime Affairs, Mr Ali
Haider Zaidi, KPT is
m e e t i n g t h e
requirements of all the
stake holders and Oil
Marketing Companies
( O M C s ) t h r o u g h
efficient and vigilant
handling of incoming
oil tankers arriving at
OMCs are receiving their respective
shipments without any delay on part of the
berthing and decanting arrangements.
Declaration of Karachi Port Services as
essential services by Federal Government
and complete support of the Provincial
Government in facilitating Port Operations
highlights the importance of essential
requirement of continuing imports &
exports for sustaining daily life and
economic activities, especially under the
global COVID-19 dilemma. Under these
daunting challenges of COVID-19,
numerous complications are emerging
including petroleum shortages.
About 56% petroleum products are
imported through shipping berthed at
KPT. KPT has instituted proactive
measures to enhance its liquid cargo
handling capacity. While ensuring
Government's directions for enhanced
precautions and reduction in non essential
staff at work to minimise spread of the
ongoing pandemic. KPT staff is
relentlessly performing to maintain the
port operations at its full potential rather
more efficiently. More so, under the
current petrol crisis situation in the
country, KPT is ensuring that no delay
takes place on its part in handling of POL
carrying ships. KPT has made all possible
arrangements for uninterrupted berthing
of tankers by using port's available
potential for smooth and quick decanting
of POL products without delay by giving
priority to MOGAS carrying vessels. KPT
management is undertaking all possible
efforts to ensure its traditional
commitment to serve the nation through
uninterrupted supplies, with least costs.
Uzbekistan looks
to Pakistani ports
accession to QTTA, and share its
experience on achieving the Generalised
System of Preferences Plus status.
Uzbekistan has formally sought
Pakistan`s support for accession to the
Quadrilateral Traffic in Transit Agreement
(QTTA) in a bid to utilise Karachi and
Gwadar ports for its trade operations.
The formal request was made by Uzbek
Deputy Prime Minister, Sardor
Umurzalcov during a video conference
with Adviser to the Prime Minister on
C o m m e r c e , R a z a k D a w o o d .
Uzbekistan`s Ambassador to Pakistan,
Furgat Sidikov also joined the meeting
held at the Ministry of Commerce in
Islamabad.
The QTTA is a transit trade deal among
Pakistan, China, Kyrgyzstan and
Kazakhstan to facilitate the passage of
goods and traffic. A road project under
the China-Pakistan Economic Corridor
will provide access to China and the
Central Asian States to Pakistani ports.
Responding to the request, Dawood
assured Pakistan`s support for
Uzbekistan in QTTA.
Pakistan plays a central role in the QTTA
which is believed to be an alternative
route bypassing Afghanistan and relying
on the Karakoram Highway via China to
r e a c h C e n t r a l A s i a n S t a t e s .
U z b e k i s t a n a l s o s o u g h t t h e
establishment of Joint Working Group for
trade and investment cooperation.
An official statement following the
meeting said that Uzbekistan requested
Pakistan to support its cause in
Dawood apprised the Uzbek side that a
memorandum of understanding (MoU)
for Pakistan-Uzbekistan Joint Working
Group on Trade and Investment will be
ready for signing after seeking approval
from the cabinet of Pakistan.
During the meeting, it was resolved that
all out efforts would be made to enhance
bilateral trade relations, establishing joint
ventures in various areas including
agriculture, textile, pharmaceuticals,
t o u r i s m a n d c o n s t r u c t i o n .
Pakistan`s exports to Uzbekistan stood at
$13.190 million in FY19 as against
$9.254m over the previous year.
Similarly, Pakistan`s imports from
Uzbel(istan are very negligible as it stood
at $5.449m in FY19 as against $3.640m
over the previous year.
TRADE CHRONICLE - May.~ June. 2020 - Page # 17