International Container Terminal Services Inc. (ICTSI) informed that it initiated a rail cargo service between Karachi and Lahore in Pakistan, aiming to enable faster movements of products in its Middle Eastern port. The new rail service is also expected to cut significantly costs to upcountry markets.
As sources report, the rail cargo service will benefit major industries of Pakistan, like agriculture, textile, fertilizer, sports goods, electronics and fast-moving goods producers to move.
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Commenting on this project, Khurram Khan, who sits as chief executive at PICT, said that it will lead to more efficiency, as well as flexibility, while at the same time mitigating congestion on the city roads.
Currently, PICT is the only terminal in the Port of Karachi with internal rail connection, this having a competitive advantage, expecting also to improve its global competitiveness with this new service.
What is more, Mr. Khan expects Pakistan’s foreign trade to increase, and for this reason, the Pakistani subsidiary of the listed Filipino port operator will play a crucial part in boosting the economy of the country.