The government has finalized a plan to revive and expand the Pakistan National Shipping Corporation (PNSC) and to induct the National Logistics Cell (NLC) into the shipping sector to help reduce Pakistan’s heavy reliance on foreign vessels and save billions of dollars in annual freight costs.
Nearly 90 percent of the country’s imports and exports are handled by foreign shipping lines, draining about $6 billion annually in foreign exchange, reported a news daily.
Under the new plan, PNSC’s operational fleet will be expanded from 10 to 54 vessels over the next five years through a strategic partnership model. The expansion is intended to substantially enhance Pakistan’s national cargo-carrying capacity by 2030 and reduce dependence on international shipping companies.
A large portion of PNSC’s existing fleet is nearing the end of its operational life and may not remain commercially viable beyond 2030.
Despite strong growth potential, Pakistan’s shipping sector has remained constrained due to limited private-sector participation. The entry of NLC into the shipping business will help address such an issue and also fill capacity/efficiency gaps.
The combined share of the government and PNSC in maritime freight is projected to surge from 5 percent to 56 percent. In value terms, freight earnings are expected to rise sharply from about $162 million to nearly $1.785 billion.
