Islamabad: The Prime Minister recently chaired a high-level meeting to assess the operations of the Pakistan National Shipping Corporation (PNSC) and emphasized the need to expand its fleet through leasing agreements. The discussions focused on strategies to enhance the maritime transportation capabilities of the state-owned enterprise, which faces challenges due to a shrinking fleet and the high costs associated with sea-borne trade.
During the meeting, the Prime Minister highlighted that the existing fleet of PNSC has diminished, leading to an increased financial burden on the national treasury. Currently, the government spends approximately $4 billion annually on maritime trade through imports and exports via sea routes. To mitigate this economic strain, the Prime Minister directed that a comprehensive business plan be submitted within two weeks. This plan should outline actionable steps to expand the fleet, including the procurement of additional ships on lease, thereby reducing the reliance on costly freight services and saving significant foreign exchange.
A detailed briefing on PNSC’s current performance revealed that the corporation operates a fleet comprising ten ships of various types, with a combined cargo capacity of 724,643 tons. Despite operational capabilities, the fleet’s limited size has impacted efficiency and increased operational costs, underscoring the need for fleet expansion.
The meeting was attended by key federal ministers, including the Minister of Economic Affairs, Ahsan Iqbal, and Minister for Maritime Affairs, Ghulam Ghaus, along with senior officials from PNSC. The discussions highlighted a strategic focus on strengthening Pakistan’s maritime infrastructure and reducing the economic burden posed by reliance on external freight services.
Overall, the government’s initiative aims to bolster the national shipping capacity, improve trade efficiency, and achieve significant savings for the economy by expanding and modernizing PNSC’s fleet through leasing arrangements and strategic planning.
