ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed authorities to devise a comprehensive plan to attract private investment in the country’s shipping sector, as part of broader efforts to modernise transport infrastructure and reduce reliance on foreign freight services.
The prime minister while chairing a high-level review meeting concerning reforms in the shipping industry and the Pakistan National Shipping Corporation (PNSC), called for restructuring the national carrier along corporate lines.
He emphasised the need to strengthen maritime capabilities in order to capitalise on the country’s strategic location and increase foreign exchange earnings.
“Improvements in the railway and shipping sectors are of critical importance for transit trade,” he said. “Transporting goods via Pakistani shipping lines presents a rare opportunity to earn valuable foreign exchange.”
Highlighting the emerging Pakistan-Afghanistan-Uzbekistan railway corridor, Sharif described it as a “new era of regional trade,” positioning Pakistan’s ports as a vital gateway for Central Asian exports to the world.
He further directed the Ministry of Maritime Affairs and the PNSC to present a sustainable business model and comprehensive reform plan for the sector, underlining the importance of expanding the national fleet to curb the country’s heavy spending on foreign freight charges.
Among those present at the meeting were Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Ahsan Iqbal Cheema and Junaid Anwar Chaudhry, as well as senior government officials.
In a separate development, the prime minister welcomed the country’s current account surplus, which reached $2.1 billion in the fiscal year 2024–2025 – the highest in 22 years.
He attributed the improvement to a significant rise in remittances and exports, alongside robust government measures that have pushed foreign exchange reserves beyond $19 billion.
“The improving financial and economic indicators show that the country’s economy is on the path of stability,” Sharif said. “The government is taking priority steps to further improve the business and investor-friendly environment in the country.”
He commended his economic team for their contributions to stabilising the economy.
Separately, in a message posted on X, the prime minister expressed satisfaction over the successful completion of hands-on agricultural training in China for around 300 Pakistani graduates.
The programme, held in Shaanxi province of China, covered key areas such as water-saving irrigation, seed production, animal husbandry, and prevention of post-harvest losses.
“My special thanks to the Chinese leadership, the Shaanxi Government, and the two universities involved,” Sharif said. He also praised the Ministry of National Food Security, the Higher Education Commission, and the Pakistan’s Embassy in Beijing for facilitating the initiative.
The graduates are part of a 1,000-strong cohort announced by the prime minister during his visit to China in June 2024, aimed at enhancing agricultural skills and technology transfer.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.