Press Release : KPT achieves significant cost savings during this year

`

KARACHI PORT TRUST

Tel: 99214311 Fax No: 99214329-30                                                                 

No. S-20/413 Dated: 26.05.2021

PRESS RELEASE

KPT achieves significant cost savings during this year

The Policy initiatives of the Federal Minister for Maritime Affairs designed to unlock the blue economy potential of Pakistan, enhance Pakistan’s visibility in the international maritime horizon and facilitate Business and Trade of Pakistan, establish Pakistan as a Maritime hub and revive the economic strength of the Port city of Karachi are being realised at operational levels.

Karachi Port Trust (KPT) over the last five months has made impressive achievements in operations and fiscal areas.

Between January to May of the current year, KPT made significant cost savings of PKR 602 million (nearly US$ 4 million) in administrative & operating expenditures due to prudent financial management and effective use of resources and stoppage/curtailment of unnecessary costs.

Separating the procurement department from Stores in compliance to Federal Audit advice, which is now focusing on inventory management, has led to higher issuance of local purchase orders and enhanced financial propriety as this contributed to Rs 130 million of the total cost savings of Rs 602 million and is a sustainable cost saving exercise henceforth.

Other operational achievements by KPT over the last five months include:

•           Dredger named Ali operational for the first time since 2014.

•           Dredging of China Creek recommenced 6 years.

•           The New CL overhead bridge on Keamari Road, non - operational since 2019, is now repaired and being made operational that

             will visibly reduce traffic congestion on main Keamari Road and surrounding areas.

•           Berth 4 has been repaired enhancing wet and dry charges.

•           Craters/potholes at Keamari Road filled to prevent accidents and inconvenience of                         commuters and Port users.

•           Over 16,000 mangrove saplings have been planted & plantation is still going on.

•           For the first time, recruitment of Women in the Port Security Force is taking place in order to introduce gender parity.

•           Day Care Center for Female employees set up.

•           Senior Management promotion cases processed for Approval by Federal Govt. after 2014.

•           A terminal to commence the ferry service operation is at the completion stage.

•           Two modern Fire Tenders to cater to the city fire incidents, donated by Governor Sindh, also included in KPT Fire Fleet.

•           To make KPT accessible and create awareness of the maritime economy, in line with Prime Minister of Pakistan's vision of Blue

             Economy, official social media platforms launched & public feedback encouraged to promote transparency.

•           Over 100 disciplinary cases were finalized.

•           For the first time land evaluators being engaged to reassess the value of Real Estate owned by KPT to maximize rental income.

•           Monthly Medical Camps were organized by KPT at Baba & Bhit Island as part of CSR.

•           MIS department being set up to bring in efficiency and transparency.

The management and staff of KPT look forward to selflessly achieving more performance goals.

AG. SECRETARY