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.