Pakistan International Container Terminal Forms Strategic Partnership with Sky Media

Karachi: Pakistan International Container Terminal Limited (PICT) has announced a strategic agreement with Sky Media (Pvt) Limited to enhance its operational capabilities and bridge previous operational gaps.

According to information available from the Pakistan Stock Exchange (PSX), the agreement, formalized under the frameworks of Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book, involves PICT providing technical and management support services to Sky Media. The latter owns and operates a licensed Off-Dock Terminal at Hawks Bay, Karachi, which is recognized by Pakistan Customs under the Custom Laws.

The collaboration is set to commence on mutually agreed dates, with PICT aiming to leverage Sky Media’s facilities to streamline its operations. The financial implications of the partnership are described as limited but are dependent on the development and volume of business generated through this new venture.

PICT has committed to maintaining transparency with its stakeholders and the public, promising ongoing updates regarding the progress of this and future business plans. An official disclosure, as mandated under SRO 143(1)/2012 read with Section 131 of the Securities Act, 2015, has been provided as Annexure A to ensure compliance and inform TREC holders appropriately.

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