Business
Karachi port deepens for bigger ships | The Express Tribune
KARACHI:
Karachi Gateway Terminal Limited (KGTL), a joint venture of AD Ports Group and Kaheel Terminals, a UAE-based company, has launched an ambitious dredging programme at the East Wharf of the Port of Karachi. The initiative will deepen berths and navigation channels at KGTL, enabling the terminal to accommodate post-panamax vessels with a capacity of over 13,000 TEUs.
Simultaneously, KGTL’s sister venture, Karachi Gateway Terminal Multipurpose Limited (KGTML), will enhance its bulk handling capability, allowing the accommodation of vessels up to 120,000 tonnes compared to the current 60,000 tonnes.
For Pakistan’s exporters and importers, these upgrades will translate directly into tangible gains. Post-panamax vessels are larger ships that bring economies of scale, reducing per-unit freight costs and optimising foreign exchange expenditure on shipping. In turn, more competitive pricing will strengthen export volumes, particularly for industries such as cement, rice, and fertilisers.
The dredging project, scheduled for completion in early 2026, is also expected to improve operational efficiency. The turnaround time for a 60,000-tonne grain vessel is projected to drop from 12 days to just three, cutting port stays by days and boosting throughput significantly.
The Port of Karachi already handles approximately 60% of the nation’s cargo, underscoring its central role in Pakistan’s import-export activity.
By enhancing its capacity on major shipping lanes, Pakistan can position itself more effectively as a gateway for the “Middle Corridor,” linking Central Asia with global markets.
However, experts caution that infrastructure upgrades alone will not guarantee efficiency unless operational bottlenecks are addressed. Karachi Port has long struggled with congestion, ageing equipment, and fragmented customs procedures. Unless improvements extend beyond the quayside to hinterland connectivity, trucking networks, and rail freight, much of the benefit from dredging could be diluted.
By deepening berths, the port will be better integrated into global shipping routes, strengthening Pakistan’s case as a South Asian maritime hub. Yet, regional competition is intensifying. Ports in India, Sri Lanka, and the Middle East are rapidly modernising, offering digitalised customs clearance, bonded logistics parks, and intermodal connectivity.
For Karachi to keep pace, parallel investments in automation, digital tracking, and customs reforms will be essential. Without these measures, even with deeper berths, shipping lines may favour alternative regional hubs that promise smoother operations and lower transaction costs.
The dredging project is fully funded by AD Ports Group under long-term concessions, 50 years for container handling and 25 years for bulk cargo. The investment signals confidence in Pakistan’s maritime future at a time when foreign direct investment remains volatile. Yet, Pakistan’s broader economic fragility could still cast shadows. Currency fluctuations, high energy costs, and political uncertainty risk undermining the competitiveness the project seeks to bolster.
Large-scale dredging projects also raise environmental and urban planning challenges. Sediment disposal, marine ecosystem disruption, and coastal erosion are concerns requiring careful management.
MUNICH: German automotive group Volkswagen is looking at India as a potential market for its affordable small electric cars and is working with partners on how to best introduce them in the market, its CEO Oliver Blume said on Sunday. “India is a fantastic market, now the third biggest in the world. We see potential in India. We are sorting out what we can do with partners and also bringing a small car to India,” Blume said. Agencies
Business
Upcoming IPOs This Week: Urban Company Among 9 Firms Set To Launch Public Issues; Full List
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Nine IPOs, including Urban Company and Airfloa Rail, will launch between September 8 and 18, 2025.
Upcoming IPOs.
Upcoming IPOs: The primary market is set for an action-packed week as nine companies are scheduled to launch their initial public offerings (IPOs) between September 8 and September 15, 2025. These offerings include a mix of small and medium enterprises (SMEs) and mainboard listings.
Nilachal Carbo Metalicks (NCM SME)
Nilachal Carbo Metalicks will open its IPO between September 8 and 10, 2025, at a fixed price of Rs 85 per share. The company’s listing is scheduled for September 15.
Karbonsteel Engineering (KARBONSTEEL SME)
Karbonsteel Engineering will hit the market during the same window of September 8–10. With a price band of Rs 151 to Rs 159, the engineering firm is looking to attract SME investors ahead of its listing on September 15.
Krupalu Metals (KRUPALUMETALS SME)
Krupalu Metals, another SME in the metals sector, will also open its IPO from September 8 to 10. The company has fixed its share price at Rs 72, and it will make its stock market debut on September 15.
Taurian MPS (TAURIAN SME)
Taurian MPS will join the cluster of early movers with its IPO running from September 8 to 10. Priced between Rs 162 and Rs 171, it will be among the higher-value SME offerings of the week, with its listing scheduled for September 15.
Jay Ambe Supermarkets (JAYAMBE SME)
Jay Ambe Supermarkets will open its IPO a day later, between September 9 and 11. With a price band set at Rs 74 to Rs 78, the retail-focused chain will list on September 16, seeking to tap into consumer-driven investor interest.
Shringar House of Mangalsutra (SHRINGAR)
Jewellery brand Shringar House of Mangalsutra will launch its IPO between September 10 and 12. Priced in the range of Rs 155 to Rs 165, the issue will list on September 17, offering investors exposure to the ornament and accessories market.
Urban Company (URBANCO)
One of the most awaited IPOs, Urban Company, will also open its books from September 10 to 12. With a price band of Rs 98 to Rs 103, the home services platform is set to make its stock market debut on September 17.
DevX (DEVX)
DevX, a provider of co-working and incubation services, will launch its IPO alongside Urban Company between September 10 and 12. Shares will be offered at Rs 56 to Rs 61, with the listing expected on September 17.
Airfloa Rail Technology (AIRFLOA SME)
Rounding off the week, Airfloa Rail Technology will open its IPO from September 11 to 15. The company has set a price band of Rs 133 to Rs 140 and will list on September 18, marking the final debut in this cluster of offerings.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
September 07, 2025, 21:18 IST
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New Delhi: Planning a bank visit this week? You might want to double-check first. Between September 8 and 14, 2025, many bank branches across India will remain shut on different days due to a mix of national and regional holidays, including Eid-e-Milad, the Friday following Eid, and the usual weekend closures.
Bank Closures Under RBI Holiday List
The Reserve Bank of India (RBI) has listed these holidays under the Negotiable Instruments Act, which covers transactions like cheques and promissory notes. While ATMs and online banking will continue to work, customers won’t be able to access in-person services at branches in the affected regions.
Why Did Mumbai Shift the Eid-e-Milad Holiday to September 8?
In Mumbai, Eid-e-Milad was initially slated for September 5, but the Maharashtra government shifted the holiday to Monday, September 8. The decision came after a request from the Muslim community to ensure harmony with Ganpati Visarjan celebrations on Anant Chaturdashi, which falls on September 6. Because of this change, all public and private banks in Mumbai will stay closed on September 8. (Also Read:Â CBIC Denies Viral Claims On GST Transition Benefits From Sep 22, Calls Message Misleading)
Full Bank Holiday List (Sep 8–14, 2025)
September 8 (Monday) – Banks closed in Mumbai for Eid-e-Milad
September 12 (Friday) – Banks closed in Jammu and Srinagar for Friday following Eid-i-Milad-ul-Nabi
September 13 (Saturday) – Second Saturday – Nationwide bank holiday
September 14 (Sunday) – Sunday Holiday – All-India (as per RBI rules)
What Can You Do When Banks Are Closed?
Even when branches are shut for holidays, most services remain within your reach. Customers can continue using online and mobile banking, as well as UPI and bank apps, for payments and transfers. ATMs also function normally, ensuring cash withdrawals are available during emergencies. (Also Read:Â GST Rate Cuts Big Relief For FMCG, Apparel, Footwear, Restaurants: Report)
However, transactions involving cheques and promissory notes are affected. That’s because the RBI issues the annual holiday list under the Negotiable Instruments Act, which governs such instruments. On these declared holidays, processing of cheques and similar paper-based transactions won’t take place.
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