The Ministry of Finance has expressed serious reservations over the current draft of the Maritime and Port Authority Act, calling for a revised version that aligns with Pakistan’s commitments under the International Monetary Fund (IMF) program.

According to an official document, the ministry has refused to endorse the existing draft, citing multiple structural flaws that must be addressed before the legislation can move forward. Officials noted that granting the proposed authority both regulatory and operational powers simultaneously could create conflicts of interest, and recommended that administrative oversight of ports and the maritime sector be handled by a separate institution.

The ministry has suggested that operations of key port entities, including Port Qasim Authority, Karachi Port Trust, and Gwadar Port Authority, should continue under boards with full autonomy. It also recommended keeping the positions of chairman and chief executive officer distinct to maintain clear governance lines.

Further, the Finance Ministry advised that any surplus funds generated by the authority be transferred to the federal treasury, and that all payments be subject to pre-audit procedures while formalizing internal audits. Clear timelines for budget preparation and approval were also emphasized.

Officials warned that the current draft could conflict with IMF-mandated reforms and might face objections from the lender if enacted in its present form. The ministry has urged that the draft be revised and resubmitted to ensure compliance with both governance best practices and international commitments.