ISLAMABAD: The government has unveiled a compact yet ambitious business plan for 2026–2030 to revive the Pakistan National Shipping Corporation (PNSC), under which the national fleet will be expanded to 54 vessels over the next five years, with the National Logistics Cell (NLC) set to play a role in shipping-related operations to boost national cargo capacity by 2030.
According to official details, PNSC operates only 10 vessels and carries around 11 percent of Pakistan’s seaborne trade currently, forcing the country to rely on foreign shipping companies for nearly 90 percent of its imports and exports. This dependence results in an estimated annual foreign exchange outflow of about USD 6 billion in freight charges.
Officials said the plan addresses long-standing structural issues, particularly the aging fleet, much of which is nearing the end of its operational life and may become commercially unviable after 2030. The challenge is further intensified by stricter decarbonisation and emissions regulations under the International Maritime Organization (IMO), requiring newer, environmentally compliant vessels.
Under the proposed framework, all existing aging ships will be replaced, and modern vessels will be inducted in phases. The government and PNSC’s share in maritime freight is projected to increase from 5 percent to 56 percent, translating revenues from USD 162 million to approximately USD 1.785 billion.
The plan also focuses on optimal utilisation of PNSC’s available liquidity and institutional restructuring through the appointment of internationally reputed financial and legal advisors. Officials said the objective is to transform PNSC into a modern, efficient, and professionally managed shipping entity capable of competing regionally.
By expanding national shipping capacity and integrating logistics support, the government expects the initiative to reduce dependence on foreign carriers, strengthen trade logistics, and ease pressure on Pakistan’s foreign exchange reserves over the medium to long term.
Copyright Business Recorder, 2025
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