KARACHI: The Finance Ministry has started efforts for the release of Pakistan National Shipping Corporation (PNSC) vessel held at South African port.
According to the Source, MV Hyderabad (Bulk Carrier), the vessel of Pakistan National Shipping Corporation (PNSC), was held at the South African Port Elizabeth due to payment issues of $14 million by the Pakistan Steel.
The company of the South Africa on the issue of the worth 14 million dollars payment took arrest orders by country’s court and bond the carrier of the Pakistan National Shipping Corporation (PNSC) till the disbursement, source added.
The source also informed that after the arrest of the Pakistan National Shipping Corporation (PNSC) carrier the Ministry of Ports and Shipping started efforts for the release of the vessel as soon as possible taking up the issues to the higher authorities.
Pakistan National Shipping Corporation (PNSC) vessel Hyderabad (Bulk Carrier) is still arrested and is present at the off port area of the South African Port named Elizabeth.
On the other hand on the request of Ports and Shipping Ministry the Finance Ministry has also started the efforts for the release of the MV Hyderabad . The source further stated that the Ministry of Finance is in talk with the South African counterpart for giving them guarantee for the remaining payment by the Pakistan Steel.
It is also expected that MV Hyderabad, the vessel of the Pakistan National Shipping Corporation (PNSC) would be release as soon as possible but the time frame cannot be given added source.
