Prime Minister Muhammad Shehbaz Sharif has instructed relevant authorities to develop a comprehensive strategy aimed at attracting private sector investment in Pakistan’s shipping industry.
He gave these directions while chairing a meeting focused on initiating reforms in the shipping sector and overhauling the Pakistan National Shipping Corporation (PNSC).
The Prime Minister emphasized the need to restructure the National Shipping Corporation along corporate lines to improve its efficiency and performance.
He highlighted that the Pakistan-Afghanistan-Uzbekistan railway line project marks the beginning of a new era of regional trade.
Shehbaz Sharif noted that this project would facilitate the transportation of Central Asian goods to global markets via Pakistani ports.
He underscored the critical role that enhanced railway and shipping infrastructure will play in boosting transit trade, adding that this opportunity could help Pakistan earn significant foreign exchange through its shipping lines.
The Prime Minister called for expanding the national shipping fleet to reduce the country’s reliance on foreign shipping services and conserve valuable foreign exchange spent on freight.
He also directed the Ministry of Maritime Affairs and PNSC to initiate reforms and submit a viable and sustainable business model for the sector.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Ahad Khan Cheema and Junaid Anwar Chaudhry, along with other senior officials.
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