PNSC proposed for privatization, not a strategic asset: Minister

MG News | August 05, 2024 at 10:55 AM GMT+05:00

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August 05, 2024 (MLN): Pakistan National Shipping Corporation (PNSC) has been proposed to be included in the privatization list as it is not a strategic institution, the Federal Minister of Naval Affairs Jarrar Haider Kazmi stated while briefing journalists in Karachi.

He further said that the amount of profit that PNSC earns can be increased significantly.

According to Jarrar Haider Kazmi, this year's profit for the company is expected to be Rs20 billion.

In comparison, last year's income was more than Rs30bn, reflecting a declining trend in performance.

Notably, last year's revenue increase was due to the sale of ships, a strong dollar, and higher freight rates.

About PNSC

PNSC is a National flag carrier. It came into existence through a merger of National Shipping Corporation (NSC) and Pakistan Shipping Corporation in 1979.

It is autonomous and managed by the Board of Directors. Moreover, the Corporation also has an extensive overseas network of agents looking after its worldwide shipping business.

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