ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Friday directed the relevant authorities to formulate a comprehensive plan to encourage private sector investment in Pakistan’s shipping sector.
Chairing a meeting regarding reforms in the shipping sector here, the prime minister stressed that steps should be taken to establish the National Shipping Corporation on corporate lines.
He emphasized that the Pakistan-Afghanistan-Uzbekistan railway line was set to usher in a new era of trade in the region as trade goods from Central Asia will be transported worldwide through Pakistani ports.
He said improvement in the railway and shipping sectors was crucial for transit trade, noting that the transportation of goods for Pakistani shipping lines was a valuable opportunity to earn precious foreign exchange for the country.
He also directed to take steps to increase the number of ships in the maritime fleet that will also help save foreign exchange spent on Pakistan’s freight.
The prime minister instructed the Ministry of Maritime Affairs and Pakistan National Shipping Corporation to present reforms and a sustainable business model for the sector.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Ahad Khan Cheema, Junaid Anwar Chaudhry, and other senior officials.
