PM directs to acquire ships on lease to enhance fleet of PNSC

Islamabad (Web Desk): Prime Minister Shehbaz Sharif, in a high-level meeting held on Friday, instructed the concerned authorities to formulate a comprehensive business plan for the Pakistan National Shipping Corporation (PNSC) and present it within two weeks.

The plan is expected to include a clear strategy aimed at reducing the approximately $4 billion annual expense incurred by the national exchequer due to the country’s dependence on foreign vessels for maritime trade.

During the meeting, the prime minister emphasized the need to strengthen the PNSC by acquiring ships on lease, noting that the limited number of vessels in the current fleet is a major factor behind the high foreign shipping costs.

PM Shehbaz stressed the urgency of expanding the corporation's operational capacity to reduce the country’s reliance on international shipping services.

Officials briefing the prime minister revealed that PNSC currently operates a fleet of ten ships of varying types, collectively offering a cargo-carrying capacity of 724,643 tons.

The prime minister reiterated the importance of strategic planning to boost the national fleet and safeguard Pakistan’s economic interests in global maritime trade.

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