Maritime minister announces to regulate shipping industry

KARACHI: Federal Minister for Maritime Affairs, Qaiser Ahmed Shaikh on Monday affirmed plans to enhance the performance of government bodies and consider privatisation where deemed necessary.

Speaking to journalists at the Pakistan National Shipping Corporation (PNSC) office, he clarified that there were no ongoing discussions regarding the privatization of PNSC.

Stressing the need for collective efforts to stabilize the economy and elevate the performance of government institutions, the minister expressed concerns about the PNSC oil ship stranded in Sri Lanka for eight months due to technical issues.

He assured an inquiry into the matter and pledged strict action against responsible officials.

Furthermore, he announced the imminent appointment of a Chairman for PNSC and emphasized the importance of hiring a CEO from the open market for the corporation.

Highlighting efforts to render all government institutions profitable, he cited Karachi Port Trust (KPT) as an example, stating it had generated approximately Rs 2 billion in profit, with a target of Rs 5 billion for the current year.

Responding to queries, the minister indicated plans for a comprehensive meeting to deliberate on regulating the shipping industry.