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ISLAMABAD:
A comprehensive plan has been prepared for the revival and improvement of the Pakistan National Shipping Corporation (PNSC), and a decision has also been taken to bring in the National Logistics Cell (NLC) in the shipping business. According to the plan, the number of operational PNSC ships will increase from 10 to 54 in the next five years.
According to officials, the PNSC currently has only 10 vessels, which transport just 11 percent of the country’s commercial cargo.
As a result, Pakistan pays approximately $6 billion annually in foreign exchange to international shipping companies in the form of freight charges. Almost 90 percent of the country’s imports and exports* are currently carried out via foreign vessels.
Many of the PNSC’s ships are reaching the end of their operational lives, making it difficult to operate profitably beyond 2030. The situation has been further complicated by new regulatory regimes introduced by the International Maritime Organization (IMO) aimed at reducing carbon emissions.
Despite the significant growth potential of the maritime sector, the absence of private operators has hampered market efficiency and expansion. To address this, NLC is being brought into the business to improve domestic cargo transportation capacity by 2030 and eliminate dependence on foreign vessels.
Within the framework of a strategic partnership, the number of active PNSC vessels will increase to 54 in five years. As a result of this plan, the government and PNSC share in maritime transportation is expected to increase from 5 percent to 56 percent, which translates from $162 million to $1.785 million.
