PM Shehbaz orders expansion of PNSC fleet to save $4b trade costs

Prime Minister Shehbaz Sharif has directed the relevant authorities to prepare a business plan for Pakistan National Shipping Corporation (PNSC) and present it within two weeks, which should include a strategy to save the annual $4 billion burden on the national exchequer, reported 24NewsHD TV channel.

Chairing a high-level meeting regarding matters related to PNSC in Islamabad on Friday, PM Shehbaz Sharif directed to acquire ships on lease to expand the PNSC fleet.

The prime minister said “Due to a reduced number of ships in the PNSC fleet, the country has to spend approximately $4 billion annually from the national exchequer on maritime trade.”

During a briefing on PNSC’s performance, the prime minister was informed that the corporation currently possesses 10 ships of various types, with a combined cargo-carrying capacity of 724,643 tons.

The meeting was attended by Minister for Economic Affairs Ahad Khan Cheema, Minister for Maritime Affairs Junaid Anwar Chaudhry, and senior officials of PNSC.

Reporter Awais Kiyani