Prime Minister Shehbaz Sharif has directed the relevant authorities to frame a comprehensive plan to encourage private sector investment in Pakistan s shipping sector. Chairing a meeting regarding reforms in shipping sector in Islamabad on Friday, PM Shehbaz Sharif stressed that steps should be taken to establish the National Shipping Corporation on corporate lines.

The prime minister 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. Shehbaz Sharif 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 saving foreign exchange spent on Pakistan s freight. The PM 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.

Credit: Independent News Pakistan (INP)