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ISLAMABAD:
A comprehensive plan has been prepared for the revival and improvement of the Pakistan National Shipping Corporation (PNSC), with a decision also taken to integrate the National Logistics Cell (NLC) into the shipping sector. Under the plan, the number of operational PNSC vessels will increase from 10 to 54 over the next five years.
According to officials, the PNSC currently has only 10 ships, which carry just 11 percent of the country’s commercial cargo.
As a result, Pakistan pays around $6 billion per year in foreign exchange to international shipping companies in the form of transportation charges. Nearly 90 percent of the country’s imports and exports* are currently transported by foreign ships.
Many PNSC vessels are nearing the end of their operational lives, making it difficult to operate profitably beyond 2030. The situation is further complicated by new regulatory regimes 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 hampered market efficiency and expansion. To address this issue, the NLC is involved in the sector to improve national cargo transportation capacity by 2030 and eliminate dependence on foreign ships.
As part of a strategic partnership, the number of active PNSC vessels will be increased to 54 within five years. Through this plan, the government and PNSC’s share of sea freight is expected to increase from 5 percent to 56 percent, or from $162 million to $1.785 billion.
