Pakistan International Container Terminal, a unit of International Container Terminal Services Inc., has launched a dedicated rail cargo service connecting the cities of Karachi and Lahore.
The rail cargo service aims to move goods faster and at a significantly lower cost to upcountry markets, benefiting major industries of the country, such as agriculture, textile, fertilizer, sports goods, electronics, and FMCG producers to move.
As the only terminal at the Port of Karachi with internal rail connection, PICT enjoys a competitive edge in the local market and expects to improve its global competitiveness with this new feature.
“PICT hopes to be the container terminal of choice for trade at the Karachi Port. Our leadership strives to implement initiatives that provide customer-centric solutions in line with the Government’s strategic plans,” Khurram Khan, PICT chief executive officer, said.
“This rail service provides us with more efficiency and flexibility. As an alternative rail transport, this reduces the cost of doing business for clients. At the same time, this helps alleviate congestion on the city roads. We thank and congratulate all the parties involved in making this possible,” Khan added.
“We foresee increased large volumes in Pakistan’s foreign trade, and we are committed to address this, increasing our capability to provide end-to-end logistics solutions for our customers,” he said.
PICT has been adding value to the business of the terminal industry in Pakistan, playing a key role in uplifting the economy of the country with a focused and determined approach of providing value added services.
ICTSI reported a net income of $72.4 million in the first quarter of the year, up 77 percent from $40.9 million year-on-year.
Gross revenues from operations amounted to $383.8 million in the first quarter of the year, up 18 percent from $325.4 million a year ago.
ICTSI handled the consolidated volume of 2,478,672 twenty-foot equivalent units, seven percent more than the 2,325,540 TEUs handled in the same period in 2018.
