20000414

PQA earns

Rs 1,344.91m

in 9 months

RECORDER REPORT

KARACHI: The Income of Port Qasim Authority increased from Rs. 1,192.73 million during July-March 1998-99 to Rs. 1,344.91 million in the corresponding period of 1999-2000 registering a 13 percent increase, says a PQA press release.

It says that the main factors contributing to this enhanced are increased operational activities and prudent financial management. The PQA income from investment rose from Rs. 93.63 million during July-March 1998-99 to Rs. 138.18 million during the same period in 1999-2000 registering an increase of more than 47 percent.

The PQA has also succeeded in curtailing its expenditures which came down to Rs. 547.03 million during the period under review from Rs.714.92 million during the same period last year indicating a decline of 23.5 percent.

The PQA operational activities also registered an increase during the current financial year. The volume of cargo handled during the first three quarters of the current financial year was increased by 15 percent. The port handled 11.59 million tonnes during July-March 1999-2000 compared with 10.05 million tonnes during the same period last year.

The largest increase was noted at Engro Pak. Terminal (155 percent); and Fotco (36 percent). A total of 9.09 million tonnes of import cargo and 0.441 million tonnes of export cargo was handled during July-March 1999-2000.

The number of ships berthed here has also increased. During first nine months of the current financial year, 434 ships were berthed at the port compared with 395 ships that visited the port during the same period last year thus registering an increase of 10.4 percent.

The government had reconstituted the PQA Board with increased representation from the private sector. Previously, the board included only two representatives from private sector, whereas the reconstituted board consists of four members from the private sector.