Maersk Line’s $2 Billion Investment to Boost Pakistan’s Shipping Industry

Islamabad, November 11, 2024 – Denmark’s Maersk Line, the world’s second-largest container shipping company, has announced plans to invest USD 2 billion in Pakistan’s maritime sector. This significant investment was revealed during a meeting between Pakistan’s Minister for Maritime Affairs, Qaiser Ahmed Shaikh, and senior Maersk officials in Islamabad on Monday.

Minister Shaikh hailed the investment as a major milestone for Pakistan’s shipping and logistics industry. He emphasized that this collaboration would bring long-term economic benefits by improving the sector’s efficiency and global competitiveness.

Maersk representatives expressed confidence in Pakistan’s government and the Ministry of Maritime Affairs, praising the progress made in the lead-up to this investment. They assured that the company’s operations would receive full support from the Ministry to ensure a smooth and successful partnership.

Minister Shaikh expressed optimism that this collaboration would attract further foreign investment, boost port development, create jobs, and strengthen Pakistan’s position in the global shipping industry.

In a related development, the Minister also highlighted the government’s plans to improve the performance of state-owned maritime institutions, including the Pakistan National Shipping Corporation (PNSC). While addressing concerns over the PNSC’s oil ship stranded in Sri Lanka for eight months due to technical problems, Shaikh clarified that there were no current discussions regarding the privatization of PNSC.

This partnership between Pakistan and Maersk is expected to provide a significant boost to Pakistan’s maritime infrastructure and contribute to broader economic growth.