Without any bidding for competition or price discovery, the government
on Monday approved a draft framework agreement for the transfer of Bulk and
General Cargo Terminal and associated infrastructure at East Wharf Karachi Port
to Abu Dhabi (AD) Ports through negotiations on a G2G basis.
The decision was taken at a meeting of
the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT)
presided over by Finance Minister Ishaq Dar. “The committee approved the G2G draft Framework Agreement for the
ratification of the Federal Cabinet”, said an official statement.
Karachi Port consists of three wharves East, West and South containing
five terminals. Three docking terminals are outsourced to Terminal Operating
Companies (TOC) while the remaining two i.e. Oil Terminal and Clean Bulk Cargo
Terminal (CBCT) are presently operated by the KPT.
Pakistan has already handed over the control of KPT’s Container
Terminal (Berths 6 to 9 at East Wharf) to the UAE.