PM Shehbaz Wants More Private Investment in Pakistan’s Shipping Sector

Prime Minister Muhammad Shahbaz Sharif on Thursday chaired a high-level review meeting on reforms in Pakistan’s shipping sector and the Pakistan National Shipping Corporation (PNSC). He ordered immediate steps to modernize operations and attract private investment.

He said PNSC should be restructured on corporate lines and develop a sustainable business model. The Prime Minister also instructed the Ministry of Maritime Affairs and PNSC to take measures to expand the national fleet to reduce foreign exchange losses on freight payments.

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The Prime Minister said this new regional trade route will enable the movement of Central Asian commodities through Pakistani ports to international markets. He termed this an important moment to boost foreign exchange earnings through transit trade.

Improving the country’s railways and maritime infrastructure was identified as a key requirement for capitalizing on regional trade flows. The Prime Minister also called for a clear plan to incentivize private sector investment in shipping.

The meeting was attended by Deputy Prime Minister Ishaq Dar, Federal Ministers Ahad Khan Cheema, Junaid Anwar Chaudhry, and senior officials.