Pakistan Crisis: Pakistan, which is going through a period of economic poverty, is now going to sell Karachi port to UAE. Pakistan has formed a committee to finalize the deal for handing over the Karachi Port Terminal to the UAE. Actually, there is a constant threat of default on Pakistan. In such a situation, Pakistan is trying new tricks.
According to the report of Pakistan’s Express Tribune newspaper, Shahbaz Sharif’s government has formed a negotiating committee to finalize an agreement with the United Arab Emirates (UAE) regarding the Karachi port terminal to raise money for the emergency fund. According to the report, the Government of Pakistan had made a law last year to get emergency funds and now under that the Karachi Port Terminal is being given to UAE.
Committee constituted
According to reports, Finance Minister Ishaq Dar chaired a meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions on Monday. The meeting decided to set up a committee to negotiate a commercial agreement between the Karachi Port Trust (KPT) and the UAE government.
Pakistan troubled by not getting loan from IMF
According to the report, Pakistan is upset due to the withholding of loan money by the International Monetary Fund (IMF). In such a situation, Pakistan is looking for alternatives. Significantly, earlier UAE made it clear that it will not give any loan to Pakistan until the Shahbaz government does not hand over any property of the country to it. In such a situation, Pakistan has come up with a new trick to avoid default.
Faisal Sabjwari will preside
According to the report, the new committee constituted by the government will be headed by Maritime Affairs Minister Faisal Sabzwari. Also, the members of the committee include Additional Secretary for Finance and External Affairs, Special Assistant to PM Jahanzeb Khan, Chairman of Karachi Port Terminal (KPT) and General Manager of KPT.
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