PM urges PNSC fleet expansion to curb $4bn forex outflow

SLAMABAD: Prime Minister Shehbaz Sharif has emphasised the urgent need to expand the Pakistan National Shipping Corporation (PNSC) fleet through leasing additional ships to address the current shortage of vessels.

Chairing a high-level review meeting on the affairs of the PNSC, the prime minister noted that Pakistan’s national treasury annually spends $4 billion in foreign exchange on seaborne trade due to this deficit.

He directed the presentation of a comprehensive PNSC business plan within two weeks, aimed at eliminating this significant annual expenditure.

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During the briefing, officials informed the prime minister that PNSC currently operates ten ships with a combined cargo capacity of 724,643 tons.

Federal Ministers Ahad Khan Cheema (Economic Affairs) and Junaid Anwar Chaudhry (Maritime Affairs), along with senior PNSC officials, attended the meeting.