Pakistan Minister for maritime affairs to consider jetty for edible oil
Pakistan is considering a new jetty for edible oil imports to reduce delays and foreign exchange losses. The government also aims to boost regional trade, with plans to expand exports and strengthen ties with India and Bangladesh. The ‘Uraan Pakistan’ initiative targets $1 trillion in trade within a decade, aiming for economic stability and growth.
KARACHI: Federal Minister for Maritime Affairs Qaiser Sheikh has termed the proposal for establishing a dedicated new jetty for edible oil as feasible and announced to consider it after consultations with all stakeholders.
He emphasised that importing edible oil through Pakistan National Shipping Corporation (PNSC) vessels would help save valuable foreign exchange. He made these remarks during his visit to the Pakistan Vanaspati Manufacturers Association (PVMA).
Sheikh announced the formation of a committee comprising representatives from the PVMA, Port Qasim, PNSC, and Ministry of Maritime Affairs to address industry concerns and formulate solutions. He also revealed that MERSK Lines has expressed interest in investing $2 billion in Pakistan’s port and shipping infrastructure. He acknowledged that demurrage charges at ports were causing significant financial losses to the industry and assured that the government and the Ministry of Maritime Affairs were committed to resolving these issues.
Sheikh also stated that the PNSC currently has 12 vessels and plans to acquire four more. He emphasised that in consultation with the industry, alternative solutions would be explored, including chartering vessels. If expanding jetty capacity improves the situation, the government is willing to provide the necessary facilities. He also assured PVMA members that steps would be taken to ensure the release of their blocked payments at utility stores.
Port Qasim Authority Chairperson Moazzam Ilyas said that the MW-1 Jetty is designated for rice exports, while the capacity for edible oil imports is 3.5 million tonnes, which is currently underutilised.
PNSC Chairperson Sultan Chawla assured that the corporation is committed to supporting the PVMA and other industrial stakeholders, and arrangements are being made to secure funding for new vessels. He added that, with stakeholder consultation, chartering vessels or adopting alternative measures will be considered to save foreign exchange.
PVMA Chairperson Sheikh Umer Rehan highlighted that the Vanaspati manufacturing sector is the second-largest tax-paying industry in Pakistan, contributing Rs800 billion annually. He stated that edible oil imports amount to $4.5 billion each year, primarily sourced from Indonesia and Malaysia. However, current shipments operate on a cost-and-freight basis, leading to delays and additional demurrage charges. He urged for a committee to address industry issues collectively and expressed a preference for importing palm oil through PNSC ships. He pointed out that Pakistan’s annual edible oil demand stands at 3.5 million tonnes and is projected to exceed five million tonnes in the next five years. He also noted that the shipping sector incurs charges of $40-50 million annually and that, due to shipping shortages, 100 tonnes of cargo is often lost without accountability.
Rehan stressed the need to increase the number of berths at the Karachi Gateway Terminal and Port Qasim, as only one jetty is currently used for unloading edible oil, causing delays. He urged the government to allocate berths on a “first-come, first-served” basis. He also mentioned that 70 per cent of land in the Port Qasim Industrial Zone remains unutilised and suggested that land allocated to inactive industries should be reclaimed and reassigned to serious investors.
Maritime affairs minister stresses need for regional trade
Speaking at a separate event on Tuesday in Islamabad, Sheikh, while underscoring the importance of regional trade, said that now is the right time to focus on the promotion of regional trade for progress and prosperity of the country.
Speaking at the 17th Annual Corporate Social Responsibility (CSR) Summit and Awards 2025, the federal minister highlighted the global trend of increasing regional trade. He said that despite conflicts between China and Taiwan, substantial regional trade continues between both countries.
He stressed the need for Pakistan to enhance trade relations with Bangladesh and India as well. Sheikh reaffirmed the government’s commitment to steering the country out of the economic crisis. Under the leadership of Prime Minister Shehbaz Sharif, the government has launched the ambitious ‘Uraan Pakistan’ programme, aiming to boost trade volume from $370 billion to $1 trillion within the next decade.
He further stated that all-out efforts are being made to double the country’s exports within the next four years. He highlighted key economic improvements, mentioning that inflation has dropped from 22 per cent to 2 per cent, and foreign remittances have increased by 25 per cent over the past seven months due to the government’s initiatives.
The minister said the country’s currency has also stabilised while foreign reserves are also increasing day by day. The minister emphasised Pakistan’s vast economic potential and ongoing efforts to ease the cost of doing business. He assured that electricity prices would see a sharp decline in the coming months, while the policy rate has been slashed from 22 per cent to 11 per cent to stimulate economic activity.
Sheikh also commended the organisers for holding the award summit to recognise corporate social responsibility efforts by various institutions and companies.
The 17th CSR Summit and Awards 2025, themed ‘Sustainable Pakistan’, was organised by the National Forum for Environment and Health (NFEH). The summit provided a key platform for discussions on corporate philanthropy and social responsibility, bringing together industry leaders, experts, and stakeholders to explore ways to enhance CSR initiatives for underprivileged communities across Pakistan.
The summit honoured the outstanding contributions of public and private sector organisations in supporting marginalised communities. A total of 125 awards were presented to representatives from 73 leading companies in recognition of their exceptional CSR efforts.
Executive Director of the Securities and Exchange Commission of Pakistan (SECP) Musarat Jabeen highlighted that Pakistan, with a population exceeding 255 million and an annual growth rate of 2.4 per cent, faces numerous challenges, including environmental concerns, health, education, and energy. She urged companies to enhance transparency and actively engage stakeholders in CSR initiatives. She emphasized that CSR is closely linked to ethical and religious values and stressed the need for well-organized CSR efforts. She also mentioned that Pakistan has already developed a framework for CSR activities, though many initiatives take time to yield results.
Kamran Rizvi, Co-Founder of Camelian and a senior consultant and lead trainer, emphasised that CSR is a crucial tool for making a difference in society. He advocated integrating CSR efforts with core business strategies while prioritising key social issues. He also highlighted the importance of stakeholder collaboration, transparent communication, and effective evaluation of CSR projects.
President of NFEH Naeem Qureshi congratulated the award winners, noting that their CSR initiatives have provided significant relief to the general public. He highlighted that the participating companies have collectively planted over 270,000 trees as part of the Green Pakistan initiative.
Several notable figures shared insights on their organisations’ CSR contributions. CEO of Youth Impact A Samad; President of EmpowerHer and the Centre of Pakistan and International Relations Amna Munawwar Awan; and CEO of My Impact Meter Kanwal Cheema discussed their efforts in uplifting marginalised communities across the country.
Other distinguished speakers included President of the FPCCI Atif Ikram Sheikh; disability and development expert Muhammad Atif Sheikh; TV anchor Saima Amjad; Founder and Executive Director of Meethi Zindagi Sana Ajmal; Corporate Manager of Policy Development at Nestle Pakistan Aatekah Mir Khan; Business Development Manager at Schneider Electric Faizan Sarwar; and Chairman of Bin Qutub Foundation Bashir Malik.
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Source : The News
