Loot sale : Entire Karachi Port leased to Abu Dhabi for 50 years for $50 million dollars. Chief economist general asim munir

[NooriNuth]

From the article, it seems the port was generating revenue of $50 million anually, but the AD group will pay us $20 million only?

What I seem to understand though is that only 4 berths are given away, the rest of the port still remains with the government.

Yes. Container terminal leased out
.
Rest of the port remains with KPT

 

[Salim Toshkhana]

Just $24m per annum that too for 50 years ?.

KPT would have earned 10 times more by just starting a passenger ferry service between Karachi and Bombay or between Karachi and Gujarat.

To run a country you need to think like a businessman but our Mullahs and Hafiz only spit venom against India - the only neighbour with which we can have a trade surplus.

 

[Goritoes]

Please sell the entire city of Karachi to America or UAE, they will run it better.

 

[IndoUS]

I can understand the incompetence of government, but how does the Navy feel about it? Karachi is a strategic port close to Naval assets. How do you just give that away to a foreign nation.

 

[indushek]

Lot of Indian products to be imported through this port. How come Chinese wasn't given this. They specialize in such debt ridden deals.

Perhaps Pakistan has managed to balance the West and China, this way.

 

[Strigon]

Why can't Pakistan or Pakistanis operate it and make money, we have 250M population. Uae will bring trouble, look in Sudan and other states, these states start to fund their proxies and when you get out of line they will bite you hard.

ROFL what ? Pakistan’s population is like 1000 or something, rest of inhabitants are considered expandable trash by every agency of the country…

 

[BamsiBey]

This is what happens when a man does things other than his main job.

I tell you this. These army generals wont quit unless we kick them out.

LOL

They are sitting on nukes. who will kick them out?

If anything the change has to start from within the army.

All 3 serving ISI generals have illegaly taken over the country and all of the state institutions. It seems no one is being spared, even the entire Army + Retired force is being held hostage.

 

[RashidKhanTheLegend]

Which means at some point there may be a Bangladeshi or South Indian mallu who will be heading some department of Karachi Port ??

 

[Tamerlane]

This shows how Pakistan is going to fizzle out slowly rather than go out with a bang like East Pakistan.

The generals are going to surrender Pakistan little by little in their effort to protect their personal interests like DHAs and US green cards.

Bajwa has already said that the army can’t fight India. They’ll sell infrastructure like ports, airports, agricultural land, mining interests, PIA, and whatever else they can. Then they’ll become best friends with Israel, then India. Then they’ll allow Indians to directly buy up industries. The nukes will rust in warehouses and become obsolete.

The generals will hang on to their own privileges but Pakistan will be reduced to a client state of India.

 

[karachidude86]

https://twitter.com/x/status/1671824970874343424

abhi wait karain niazi buzdar khatak ayain ga to phir yeh karain gai

 

[Cash GK]

abhi wait karain niazi buzdar khatak ayain ga to phir yeh karain gai

Abe ban k tacky... brain size of chicken dont tag me if you dont have reasonable words come out of your bloody chicken size brain. They did not sell your Strategic assets to hostile countries . Ross well hotel is already gone to American islambad Airport is gone Karachi Airport is gone Lahore Airport is gone.. Karachi port is gone dickhead go f.....k yourself.

 

[nahtanbob]

Here is the fine detail which is more troubling: (did we just land lock ourselves in the proverbial sense - MADNESS yet again.)

Pakistan will also have the right to establish another container terminal facility at Karachi Port only when the aggregate container traffic at Karachi Port exceeds by more than 80% of five million TEUs and establish further terminals each time the aggregate annual container traffic at Karachi Port increases by 500,000 TEUs.

At any time such thresholds are reached, KPT shall first enter into good faith negotiations with the Dubai company to allow them to establish such additional terminal facility. If such discussions are not concluded within a period of two months, KPT can expand the port.


UAE was not keen on Gawadar and some circles were even thinking it might be responsible for some of the BLA efforts. Remember if UAE is not the hub of air and sea travel then it impacts everything that is seeded there. So unless within the contract language there are clauses that pushes UAE to make KPT a regional hub under exclusive rights for upstream countries like Afghanistan and Central Asia - then this was such a dumb move.

Seriously how is Karachi/Gwadar a rival to Dubai ? Anything from Central Asia will have to be shipped from Pakistani or Iranian port. This deal does not change that.

 

[forcetrip]

Okay so I was discussing this in detail what exactly got leased. I will try to give you overall figures of what I understood. Pakistan has around 31 or 32 container berths KPT plus Port Qasim. Out of which 7 are already operated by other countries. The 4 berths that are going to UAE were previously with China and before that with Singapore. Feel free to correct.

 

[S.Y.A]

All these people are pro Saudi, love Saudi, read their Quran translations, follow their sect, these same assets then create political parties, even militants.

lol, no. even the deobandis dont follow wahabism or read their translations. the barelwis, who are in majority in pakistan, of course are waayyyyy opposed to wahabism. fiqh of both deobandis and barelwis is hanafi, with differences in aqeedah, and both follow sufi tariqas. fiqh and sufism is something that the wahhabi ideology hates and opposes.

We can't even run a port ourselves? Engro? Habib group? Lucky group? Tata group in India can diversify into everything, but except Engro, all other Pakistani groups are still stuck in the 80's with textile and low value items.

agreed. should have given it to a local private company of good standing. btw, not even engro exports anything significant, in terms of capital earned.

 

[Pogical Thinking]

Okay so I was discussing this in detail what exactly got leased. I will try to give you overall figures of what I understood. Pakistan has around 31 or 32 container berths KPT plus Port Qasim. Out of which 7 are already operated by other countries. The 4 berths that are going to UAE were previously with China and before that with Singapore. Feel free to correct.

Deal also includes significant investment from ADP to expand and upgrade the port as well as construct an SEZ.