CCoIGCT allows negotiations on Framework Agreement with UAE over KPT
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The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) on Wednesday allowed negotiations on Framework Agreement, reported the 24NewsHD TV channel.
According to reports, Federal Minister for Finance Ishaq Dar chaired the meeting of the CCoIGCT in Islamabad on Wednesday.
The CCoIGCT considered a summary of the Ministry of Maritime Affairs regarding the G2G agreement between the Governments of UAE & Pakistan on Cooperation for the Development of a Bulk and General Cargo Terminal at East Wharf at Karachi Port Trust (KPT) under the Inter-Governmental Commercial Transaction Act, 2022.
The Committee after a detailed discussion allowed negotiations on Framework Agreement and constituted a committee comprised of the Secretary of Law & Justice, the Secretary of Maritime Affairs, and representatives from the Ministry of Foreign Affairs and Finance to negotiate the draft framework agreement with the Government of UAE.
Federal Minister for Maritime Affairs Syed Faisal Ali Subzwari, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir, Minister of State for Petroleum Musadik Malik, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Secretary Finance, Secretary Maritime Affairs, Secretary Law & Justice, Secretary Commerce, and other senior officers attended the meeting.
Reporter: Waqas Azeem