PICT Signs Agreement with Sky Media to Provide Technical Services

Pakistan International Container Terminal Limited (PSX: PICT) has signed an agreement with Sky Media (Pvt) Limited in order to bridging the operations in the past. PICT, in order to bridging the operations in the past, has signed an agreement with Sky Media (Pvt) Limited, a company incorporated in Pakistan and owns an Off Dock Terminal located at Hawks Bay Karachi, the company said in a notice to the Pakistan Stock Exchange (PSX) on Monday. It said that the terminal is duly licensed and declared by Pakistan Customs as an Off-Dock Terminal under the Custom Laws. Under the arrangement PICT will provide technical services including but not limited to management support effective from mutually agreed dates. The financial impact of the agreement will be limited and subject to the development and volume of the business. The company is mainly engaged in providing container terminal management services. The company is a subsidiary of ICTSI Mauritius Limited whereas its ultimate parent company is International Container Terminal Services Inc.