Rs. 8-bn available for ports development: Pak Shipping Minister

Karachi: Federal Minister for Ports and Shipping Babar Khan Ghauri has said that over Rs 8 billion are available for improving port facilities and development of the shipping sector under various schemes.

This was stated by the Minister in a meeting of the standing committee of senate on ports and shipping held in Islamabad on Tuesday and chaired by Senator Ms Gulshan Syed.

Port Qasim Authority Chairman Admiral Asad Qureshi made a presentation before the committee members on financial health of the PQA and said that investments were strictly being made as per the directives of the government.

The committee was also informed that there was a restriction on keeping deposits of public enterprises in private banks till June 2003. But later surplus funds were deposited in private banks in accordance with given guidelines of the finance division.

The committee members expressed their satisfaction and agreed that procedures were being followed and transparency was being maintained.