KARACHI: Mian Zahid Hussain, president of the Pakistan Businessmen and Intellectuals Forum, has said that all ship acquisitions should be undertaken transparently, through competitive financing and on commercially viable terms.
He said that increasing the number of ships alone would not increase exports.
He welcomed the decision to increase and modernize ships of the Pakistan National Shipping Corporation (PNSC).
He said that this decision represents timely progress towards strengthening Pakistan’s trade sovereignty, energy security and foreign exchange conservation.
Mian Zahid Hussain paid tribute to Prime Minister Mian Muhammad Shehbaz Sharif for directing the acquisition and leasing of additional ships and the preparation of a comprehensive plan to elevate the PNSC to international standards.
He said that the Prime Minister has correctly recognised that genuine economic sovereignty cannot be achieved by dependence on foreign shipping companies.
Mian Zahid Hussain also appreciated Field Marshal Syed Asim Munir’s active role in promoting peace and strategic stability in the Gulf which will ultimately turn into Pakistan’s economic benefits.
He said that efforts to reduce regional tensions, strengthen relations with Gulf countries and restore commercial shipping through the Strait of Hormuz are extremely important for Pakistan’s energy security and exports.
Mian Zahid said that PNSC inducted three modern oil tankers during January and February 2026 at a combined purchase price of approximately USD 193.15 million.
These vessels added 272,039 deadweight tonnes of carrying capacity, increasing the number of PNSC-managed ships from 10 to 13.
The corporation now operates eight tankers and five bulk carriers. This additional capacity will make the transportation of petroleum products more reliable and reduce dependence on foreign vessels obtained through expensive spot chartering.
Mian Zahid said that, in accordance with the prime minister’s directions, PNSC is to further increase the number of its ships from 13 to 30 by the end of 2027.
The addition of five vessels would increase the number of PNSC-managed ships from 13 to 18 and provide vital shipping capacity for trade with Gulf countries, the Red Sea and South Asia.
Depending on the final number and size of the vessels, the proposed feeder ships could provide combined nominal capacity of approximately 3,300–10,000 TEUs per sailing.
Copyright Business Recorder, 2026
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