20000108

PQA evolves

three-year

development plan

RECORDER REPORT

KARACHI: The Port Qasim Authority (PQA) has formulated a three-year development plan, which includes measures such as deepening and widening of navigation channels, improving infrastructure facilities, installation of weigh bridge of 100 tonnes capacity, construction of railway overpass, dualisation of main access road acquisition of fire-fighting equipment and technology for controlling pollution and contamination.

The results of first half of current financial year indicate a sustained upward trend in the PQA's profitability and operational performance.

The operational income of the PQA during July- December 1999 was Rs 663 million as compared with Rs 578.20 million during the corresponding period of last year, thus indicating an increase of 15 percent.

Its net surplus income increased from Rs 241.72 million in July-December 1998 to Rs 377.51 million during December 1999, thus registering an increase of 56 percent. This could be made possible through economised expenditure (26 percent) and increased operational activities.

During July-December 1999, the PQA handled 7.5 million tonnes of cargo as compared with 6.2 million tonnes during the corresponding period of 1998, thus registering an increase of 21 percent. During the first half of 1999-2000, 5.8 million tonnes of import cargo and .288 million tonnes of export passed through the PQA.