Prime Minister Shehbaz Sharif on Friday directed authorities to increase the number of ships in the national maritime fleet to reduce freight-related forex outflows.
PM Shehbaz made these remarks while chairing a review meeting on reforms in Pakistan’s shipping sector and the Pakistan National Shipping Corporation (PNSC).
The prime minister said a plan should be formulated to encourage private sector investment in Pakistan’s shipping sector. “Measures should be taken to restructure the PNSC along corporate lines,” he added.
During the meeting, the prime minister remarked that the Pakistan-Afghanistan-Uzbekistan railway line is set to mark the beginning of a new era of trade in the region.
PM orders comprehensive overhaul of PNSC
“Goods from Central Asia will be transported across the globe via Pakistani ports.”
PM Shehbaz stated that the improvement of the railway and shipping sectors is of vital importance for transit trade. The transportation of cargo through Pakistani shipping lines presents a unique opportunity for the country to earn valuable foreign exchange, he said.
He also instructed the Ministry of Maritime Affairs and the PNSC to undertake comprehensive reforms and present a sustainable business model for the sector.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Ahsan Iqbal, Junaid Anwar Chaudhry, and other senior officials concerned.
