Prime Minister Shehbaz Sharif Friday approved a comprehensive reforms plan aimed at reviving Pakistan’s maritime sector, Radio Pakistan reported.
Under the plan, the Pakistan Maritime and Seaport Authority has been established, and a committee headed by the Defence Minister will oversee its implementation.
Performance of major maritime bodies assessed
The committee will meet every fortnight to monitor progress.
Key measures include restructuring the Pakistan National Shipping Corporation, modernising the National Ports Master Plan, and standardising port tariffs.
The plan also focuses on digitising seaports, boosting aquaculture, and establishing new terminals at various ports.
Significant investment coming into port, shipping sector: minister
Economic experts highlight that Pakistan suffers annual losses of five trillion rupees in the maritime sector due to underutilised port capacities, tax evasion, and fraudulent billing.
Moreover, misuse of the Afghan Transit Trade System has further caused billions in losses, with tax evasion alone costing over 1.1 trillion rupees annually.
Experts emphasise that the reforms plan is urgently needed and will significantly improve the country’s economy through digitisation and effective implementation of the proposed measures.
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