Prime Minister inaugurates IC3 project at Port Qasim
KARACHI (May 01 2007): Prime Minister Shaukat Aziz on Monday inaugurated $8 million international container security project known as IC3 at Port Qasim to facilitate faster clearance and shipment of export cargo at economical rates to USA.
This integrated scanning facility is the first ever project launched by US Customs anywhere in the world which will not only save freight and examination cost but also require no further inspection of goods.
Speaking on the occasion, Prime Minister said that this state of the art facility would ensure the faster flow of Pakistani exports to the United States. He said that USA-Pakistan relations have a close cooperation in a host of areas, diplomatic, political, security, defence, trade, investment, science and technology, etc.
He said the United States and Pakistan have been sharing with many other countries in the world their common value of peace, harmony and helping the world to be a safer place to live. He said the Pakistan was working with USA on many more economic engagements. "Special arrangements for our border zones, IOZs, the bilateral investment treaty are on the table with the USA. We see greater economic cooperation with the US and cooperation in all areas", he added.
Shaukat Aziz noted that IC3 project is a manifestation of the growing and solid and strong ties Pakistan had with the United States over many decades. He said the new facility would allow the shipment of pre-cleared goods from Port Qasim to enter the United States without any further check. This will reduce door-to-door time from Pakistan suppliers to US buyers, he added.
He opined that the USA was the major trading partner of Pakistan and this facility would allow Pakistan companies to supply their products to US companies just in time. The Prime Minister said that Pakistan was developing a trade corridor to improve the logistic chain to move goods speedily and efficiency.
This will cut the travel time between Karachi to Peshawar and major cities by half. This highway will be linked to Afghanistan and Central Asian Republics, he pointed out. He invited Afghanistan and Central Asian Republics to utilise this integrated facility to ship their products to United States.
Referring to Pakistan's economy, Shaukat said that the country was witnessing a higher growth at an average of 6 to 8 percent over the last several years. The per capita income will increase from $846 to $950 by the end of current fiscal and cross $1000 by the June of 2008, he said amid applause.
He pointed out that the leading global bank Goldman Sachs has identified Pakistan as one of the 11 most promising countries in the world in terms of economic growth, potential and future.
He said that Pakistan will have a highest ever foreign investment of more than $6 billion by the end of June this year. This investment is coming from USA, European Union, Middle East and Far East, he added. He said that country's forex reserves have crossed $13.6 billion, the all time high since Independence.
Earlier, US Charge d' Affairs Peter W Bodde said that this facility was a part of the integrated cargo container project which will speed the flow of goods from Pakistan and the Central Asia region to US market which increasing US's own security.
He said Port Qasim is the first of only three locations in the world selected for this testing phase, reflecting the close cooperation between USA and Pakistan. Assistant Commissioner Department of Homeland Security (DHS) Jayson Ahern read out the letter of Secretary DHS Michael Chertoff on the occasion. Earlier, on his arrival, Prime Minister unveiled the plaque to launch the scanning facility.
Sindh Governor Dr Ishratul Ibad Khan, Chief Minister Sindh Dr Arbab Ghulam Rahim, Port and Shipping Minister Babar Khan Ghauri and Information Minister Mohammad Ali Durrani were also present on the occasion.
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