[ad_1]
Prudent financial management, effective use of resources, and cost-cutting lead to an uptick in savings, says Pakistan’s Minister Zaidi
Karachi Port Trust (KPT) has made significant achievements in both operations and fiscal fronts over the last five months, said Ali Haider Zaidi, Pakistan’s Minister for Maritime Affairs.
KPT made significant cost savings of Rs602 million (over Dh14 million) in administrative and operating expenditures due to prudent financial management, effective use of resources, and cutting costs.
“Separating the procurement department from stores in compliance with Federal Audit’s advice, which is now focusing on inventory management, has led to a higher issuance of local purchase orders and enhanced financial propriety. This contributed to Rs130 million in cost savings and this is a sustainable cost-saving exercise, henceforth,” Zaidi said.
Under the guidance of the Minister for Maritime Affairs, the KPT authorities took a host of measures to enhance Pakistan’s visibility in the international maritime horizon, boost trade, revive the economic strength of the port city of Karachi, and establish the South Asian nation as a maritime hub.
In the last five months, KPT also made dredgers named Ali operational, recommenced dredging of China Creek, repaired and made an operational new overhead bridge on Keamari Road, repaired Berth 4, and planted over 16,000 mangroves.
KPT said the plantation of mangroves is still continuing.
KPT also started recruitment of women in the port security force for the first time to introduce gender parity and established daycare centres for female employees.
It also set up two modern fire tenders to combat blazes in Pakistan’s most populous city and also engaged land evaluators to reassess the value of real estate owned by the KPT to maximise its monthly rental income.
-waheedabbas@khaleejtimes.com
[ad_2]
Source link
