PM Shehbaz Orders Urgent Expansion Plan to Strengthen Maritime Fleet
Pakistan lease ships to curb Pakistan’s annual foreign exchange outflow of $4 billion, Prime Minister Shehbaz Sharif on Friday directed authorities to lease vessels and expand the Pakistan National Shipping Corporation (PNSC) fleet. The directive came during a comprehensive review session on PNSC held in Islamabad, as confirmed by a press release from the Prime Minister’s Office (PMO).
While presiding over the meeting, the prime minister noted that the country’s dependence on foreign shipping services—due to a limited national fleet—has resulted in a substantial financial burden on the national treasury.
Business Plan Required Within Two Weeks
Prime Minister Shehbaz instructed officials to present a strategic business plan for PNSC within two weeks. The plan should lay out clear steps to eliminate the massive annual forex expense by improving the country’s maritime self-reliance.
The PMO stated that the roadmap must include immediate leasing of ships to fill the gap in capacity, as well as long-term strategies to strengthen Pakistan’s shipping infrastructure.
Limited Fleet Highlights Need for Expansion
Officials briefed the prime minister on PNSC’s current operational status. The corporation currently operates a modest fleet of 10 vessels with a total cargo capacity of 724,643 tons—insufficient to handle the country’s sea trade requirements.
PNSC serves as Pakistan’s national flag carrier and specializes in transporting dry bulk and liquid cargo internationally. Established in 1979 through the merger of the National Shipping Corporation and the Pakistan Shipping Corporation, it functions under the Ministry of Maritime Affairs.
Pakistan lease ships Efforts Already Underway
Federal Minister for Economic Affairs Ahsan Iqbal Cheema, Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, and senior PNSC officials attended the meeting. During the session, participants also reviewed ongoing reforms in the maritime sector.
Earlier this year, Prime Minister Shehbaz Sharif approved a comprehensive reform agenda. The plan focuses on reviving Pakistan’s maritime economy through several key measures. These include restructuring PNSC, modernizing the National Ports Master Plan, and standardizing tariffs across all national ports.
Reducing Foreign Dependence and Boosting National Capability
The decision to lease ships reflects a major shift in Pakistan’s economic strategy. The goal is to achieve greater self-reliance by expanding the national shipping fleet.
As a result, the country can reduce its reliance on foreign vessels. This step will also help conserve foreign exchange and create jobs in the local maritime sector.
If executed successfully, the initiative could transform national trade and logistics. It may turn a $4 billion annual burden into a long-term opportunity for sustainable economic growth.
