KPT Achieves Significant Cost Savings Of Rs 602 Million During This Year
ISLAMABAD, (UrduPoint / Pakistan Point News - 30th May, 2021 ) :Karachi Port Trust (KPT) has made a significant cost savings of Rs 602 million in a administrative and operating expenditures due to prudent financial management and effective use of resources and stoppage/ curtailment of unnecessary costs.
The policy initiatives of the Federal Minister for Maritime Affairs designed to unlock the Blue Economy of Pakistan, enhance country's visibility in the international maritime horizon and facilitate business and trade, which was established Pakistan as a Maritime hub and revive the economic strength of the Port city of Karachi are being realized at operational level, said a press release.
The KPT over the last five months has made impressive achievements in operations and fiscal areas.
Separating the procurement department from stores in compliance to federal audit advice, which was now focusing on inventory management, has led to higher issuance of local purchase orders and enhanced financial propriety as this contributed to Rs.130 million of the total cost savings of Rs. 602 million and is a sustainable cost saving exercise henceforth.
Berth 4 has been repaired enhancing wet and dry charges. Craters/ potholes at Keamari road were also filled to prevent accidents and inconvenience of commuters and port users.
Over 16,000 mangrove saplings have been planted and plantation is still going on. For the first time, recruitment of women in the port security force is taking place in order to introduce gender parity.
A Day Care Center for female employees was also set up. Senior management promotion cases processed for approval of federal court after 2014.
To make KPT accessible and create awareness of the maritime economy, in line with Prime Minister's vision of Blue Economy, official social media platforms were launched and public feedback encouraged aiming to promote transparency.
Over100 disciplinary cases were also finalized. For the first time land evaluators being engaged to re-assess the value of real estate owned by KPT to maximize rental income.
Monthly medical camps were also organized by KPT at Baba and Bhit Islands as part of Corporate Social Responsibility (CSR).