Ministry Raises Concerns Over Proposed Maritime Act
The Ministry of Finance has expressed reservations about a proposed Maritime and Port Authority Act 2025, urging for its revision before final approval. Mudassar Ali Rana, who spoke on behalf of the ministry, stated that the draft contains several fundamental flaws.
Key among these concerns is the proposed dual role of regulator and operator by the authority. The Finance Ministry warned this could lead to a conflict of interest, contradicting international best practices which advocate for separate entities handling regulatory and operational functions.
The ministry also highlighted potential conflicts with the autonomy of key institutions such as the Pakistan National Shipping Corporation, Port Qasim Authority, Karachi Port Trust, and Gwadar Port Authority. These concerns align with IMF program commitments.
To address these issues, the Finance Ministry recommended establishing a separate organization to manage port operations in line with the State-Owned Enterprises Act 2023. The ministry also emphasized the need for financial discipline, transparency, and clear timelines for budget preparation and approval.