Shipyards play important role in economic turnaround of nations: Qayyum

Senator Lt. Gen.(Rtd) General Abdul Qayyum Thursday said that shipyards play an important role in economic turnaround of nations and pave the way for growth and prosperity.
He expressed these views while chairing an important meeting of the Senate Standing Committee on Defence Production. The Committee observed with concern that building a new shipyard in Gawadar is already delayed and there was dire need to complete it as early as possible to cater for the strategic requirements as well as business purposes.
The Committee was given a detailed briefing by MD Karachi Shipyard and Engineering Works (KS&EW) Rare Admiral SHN Shah on the overall performance of Karachi Shipyard.
He said that KS&EW  played a major role in transferring of technologies and broadening the industrial base of the country. He said that KS&EW is a profitable organization and meets all the expenses from self-generated income. He said that so far over 445 vessels of different sizes and repaired more than 5000 vessels for local and international customers.
The Committee observed that early completion of Gawadar shipyard would generate more employment opportunities and would leave positive impacts on nation’s economy.
Managing Director KS&EW said that seaborne trade continues to expand at 4% per year and there was a dire need to enhance capacity. Regarding integration with CPEC, he informed the committee that government’s vision of CPEC will completely change the dynamics and trade will be carried through maritime routes and construction of more shipyards would synergize the maritime activity.
He said that it will ensure the operational availability of Gawadar port for repair and maintenance.
Chairman Committee Senator Lt. Gen.(Rtd) General Abdul Qayyum observed that the committee would support each and every initiative aimed brining dynamism and sustainability in the organization.
The meeting was attended among others by Senators Sitara Ayaz, Maulana Hafiz Hamdullah, Mian Muhammad Ateeq Sheikh, Nuzhat Sadiq and Rubina Khalid besides Secretary Defence production Lt. Gen( Rtd) Muhammad Ijaz Chaudhary and other senior officers of the ministry.

Source: APP