PM Directs Increase in Maritime Fleet to Conserve Forex

Prime Minister Shehbaz Sharif instructed relevant authorities on Friday to augment the number of vessels in the national maritime fleet. This directive aims to curtail the outflow of foreign exchange related to freight charges.

PM Shehbaz articulated this objective while presiding over a session reviewing proposed reforms for Pakistan’s shipping industry and the Pakistan National Shipping Corporation (PNSC).

The Prime Minister advocated for the development of a strategy to attract private sector investments into the nation’s shipping domain. He emphasized, “Steps should be implemented to reorganize PNSC along corporate management principles.”

During the assembly, the Prime Minister observed that the Pakistan-Afghanistan-Uzbekistan railway project is poised to initiate a transformative period for commerce in the region.

Comprehensive PNSC Overhaul Ordered

“Merchandise originating from Central Asia will be globally distributed via Pakistani ports.”

PM Shehbaz emphasized the crucial role of improvements to both railway and shipping infrastructures for facilitating transit trade. He noted that the conveyance of cargo via Pakistani shipping entities offers a distinctive chance to accrue significant foreign currency earnings for the country.

Furthermore, he tasked the Ministry of Maritime Affairs and the PNSC with executing thorough restructuring measures and presenting a viable business strategy for the sector.

The meeting saw attendance from Deputy Prime Minister and Foreign Minister Ishaq Dar, along with Federal Ministers Ahsan Iqbal, Junaid Anwar Chaudhry, in addition to other high-ranking officials.