KARACHI, Oct 15: The Port Qasim expects higher cargo handling during 2002-03 over the previous year because the business activity has gathered momentum at the port.

The port, which presently handles one third of the total sea borne trade of the country, is likely to handle 17 million tons or 23 per cent higher cargo during the current fiscal.

The development at the port induced new investment at the port which included installation of cargo handling equipment i.e. six Vagan evacuator each having 1,600 tons per 24 hours capacity, three grabs each having 400 tons capacity per day and hoppers/ bagging plant involving huge investments by cargo handling companies.

The new investment will not only spur a chain of fresh investment but improve cargo loading and discharging rates and turn-around time of vessels.

The Port Qasim Authority has been seeking active participation from private sector to make the port a bustling business hub to facilitate the national trade.