KARACHI: Port Qasim Authority has posted 71 percent increase in its revenue during the last three years.
PQA Chairman Agha Jan Akhtar said this during a meeting with the office bearers of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
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He also highlighted inherited problems faced by the authority during the years but said that despite the challenges, the revenue increased to Rs12 billion from Rs7 billion three years ago. He said gas shortage came down in the country due to the 400MMCFD LNG terminal at Port Qasim, and the shortage would end in the near future with the establishment of two more LNG terminals.
He said an agreement for a 600MMCFD terminal to be set up by Pakistan Gas Port had been signed, and another project in which a UAE firm was interested would also set up soon.
Akhtar said the PQA was working vigorously to develop an industrial area on the 1,250 acres of land that was allotted in the past for Pakistan Textile City, but would be given back to the authority.
Moreover, he said that Al-Watan Scheme has also been wound up and money would be returned to allottees with interest as the authority could not finish the development work for this scheme. “As matter of fact this scheme is not viable for setting up industries, too,” he added.
