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ISLAMABAD:
A comprehensive plan for the revival and improvement of the Pakistan National Shipping Corporation (PNSC) has been drawn up, with a decision to also bring the National Logistics Cell (NLC) into the shipping industry. Under the plan, the number of PNSC’s operational vessels will be increased from 10 to 54 over the next five years.
According to officials, the PNSC currently has only 10 ships, which carry only 11 percent of the country’s commercial cargo.
As a result, Pakistan pays approximately $6 billion annually in foreign currency to international shipping companies in the form of freight charges. Almost 90 percent of the country’s imports and exports* currently take place through foreign ships.
Many of PNSC’s ships are nearing the end of their operational lives, making it difficult to operate them profitably after 2030. The situation has been further complicated by new regulatory schemes introduced by the International Maritime Organization (IMO) aimed at reducing carbon emissions.
Despite significant growth potential in the shipping sector, the absence of private operators has hindered market efficiency and expansion. To address this, NLC is being brought into the industry to improve national cargo capacity by 2030 and eliminate dependence on foreign ships.
Under a strategic partnership, the number of PNSC’s active ships will be increased to 54 within five years. As a result of this plan, the government’s and PNSC’s share of sea freight is expected to increase from 5 percent to 56 percent, which is equivalent to from $162 million to $1.785 billion.
