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PQA earns Rs 4,321.707m profit in financial year 2015-16: Senate Committee told

PQA earns Rs 4,321.707m profit in financial year 2015-16: Senate Committee told

 

ISLAMABAD: The Port Qasim Authority (PQA) has earned Rs 4,321.707 million profit in the fiscal year 2015-16. Furthermore, due to the enhanced operational capacity, the PQA has also handled 47 LNG vessels during this period.

It was disclosed in a briefing to the Senate Standing Committee on Ports and Shipping on income and expenses of the PQA during the previous fiscal year along with details of ongoing and completed projects on the port.

The committee met here with Chairman Muhammad Ali Saif in the chair and with top priority agenda to have a detailed briefing on the functions and organizational structure of Port Qasim Authority (PQA) besides the status and progress of deep sea berth in Karachi Port Trust (KPT).

KPT officials informed committee that operational hurdles have been removed and the Deep Water Container Port would be operational by the end of this year.  The Committee was given a detailed briefing on the appointments and promotions made by PQA during last five years. The Committee was surprised that no appointment, on any vacancy, has been made from Khyber Pakhtunkhwa and Balochistan province.

Regarding allotment of plots during last three years, PQA informed that a 40 acres plot has been allotted to M/s. Pak Suzuki Motors Pvt Ltd for automobile industry, a 13.18 acres plot to M/s. Engro LNG terminal (Pvt) Ltd for construction of LNG terminal and a 200 acres land allotted to M/s. Port Qasim Electric Power Co. Ltd for construction of power plant.

Members of the committee were of the view that both KPT and PQA are important entities and all the projects initiated by both the organizations should be completed at the earliest to give boost to the national economy.

Chairman of the committee remarked that the committee would seek more details to discuss various important issues related to PQA and KPT to formulate recommendations for improving the efficiency of both the organizations.