KARACHI: Federal Minister for Ports & Shipping, Senator Mir Hasil Khan Bizenjo has appreciated the reforms of the government by exempting duties and taxes on procurement of ships which has finally set the stage of development in maritime sector of Pakistan.
Addressing a seminar organised by Pakistan National Shipping Corporation (PNSC) on “Prospects of Shipping Sector in Pakistan”, he said that his ministry was presently working in support with other ministries to improve port infrastructure, streamline supply chain management and developing of existing national fleet”.
Senator Mir Hasil Khan Bizenjo also highlighted the volatility that prevails international shipping and also shared reasons resulted in recent downturns which has posed significant risks to shipping market.
“Pakistan’s maritime sector is important especially in the anticipated emergence of CPEC by 2018 and our ports specifically Gwadar port will play a pivotal role in bolstering regional trade and its related activities” he added.
He said “I believe that we are back on track and the only thing that matters now is that we should work jointly with full devotion and dedication in strengthening our maritime sector by enforcing policies that support our trade and its associations”.
The minister further expressed his full faith and confidence in the management of PNSC for utilizing full benefits from these taxation reforms and thanked the Chairman and management for such a eventful gathering.
“I completely understand the importance of each stakeholder, their role and also recognize valuable efforts they are putting. I believe that all issues of maritime industry need immediate attention and resolution for which all we have to work together.
The Ministry of Ports and Shipping assures that all possible support will be extended to interested parties who come forward for development of this sector for a prosperous Pakistan” said Bizenjo.
The seminar was attended by prominent representations from Pakistan’s shipping industry and stakeholders both from public and private sectors.
Addressing the seminar, PNSC Chairman Arif Elahi highlighted the global perspective on role of merchant shipping. He also briefed about the merchant shipping of Pakistan, specifically the role of PNSC in uplifting trade, economic activities and supporting oil supply chain of Pakistan.
He appreciated the efforts of MoP&S in abolishment of customs duty, general sales tax and withholding tax on imports of ships and all floating crafts including tugs, dredgers, survey vessels and other specialized crafts purchased or bareboat chartered by Pakistani entity and vessels flying Pakistan flag.
