Regulatory authority for shipping cos: Minister endorses business community’s proposal

KARACHI: The Federal Minister for Maritime Affairs, Qaiser Ahmed Shaikh, has endorsed the proposal of the business community to set up a regulatory authority for shipping companies in the country.

Qaiser was speaking at a meeting with the business community, organized by the Karachi Chamber of Commerce and Industry (KCCI), at a local hotel on Monday.

The minister also felt the need for port regulatory authority to streamline cargo operations at the facilities.

“We are not up to the mark to compete in the world,” he said, adding that he would soon visit all ports in the country. He said the cost of business has increased due to delays in clearance operations at port facilities.

Qaiser informed that the board of Karachi Port Trust (KPT) would be reorganized in the next month and a representative of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) would also be included in the board.

He said the Pakistan National Shipping Corporation (PNSC) is a for-profit institution but is not run properly. “PNSC should be privatized if it cannot run properly,” the minister added.

He said the government has high expectations from the private sector.

Chairman BMG Zubair Motiwala, President KCCI Iftikhar Ahmed Shaikh, Vice Chairman BMG Jawed Bilwani, and former president KCCI Anjum Nisar also spoke.

KPT Chairman Syed Syedain Raza Zaidi and Port Qasim Authority (PQA) Chairman Syed Hasan Nasir Shah were also present.

Copyright Business Recorder, 2024