The government will delay the sale of the Pakistan National Shipping Corporation. The federal government has agreed to delay privatizing the Pakistan National Shipping Corporation due to finding other sources of financing and implementing new reforms on the corporation.
The government, which hitherto sold its shares at the stock market, now aims to strengthen PNSC by expanding its fleet. At present, the government owns 87% of PNSC, and the rest is owned by public and employees, at 10.87%.
In a recent meeting, PNSC’s performance was reviewed, and ideas were discussed on how to improve the corporation’s efficiency in logistics. However, there are concerns about the corporation’s aging fleet, which is affecting its ability to perform effectively.
Earlier, the Ministry of Maritime Affairs had proposed the selling of more shares to raise funds for it. However, considering the importance of PNSC to the country, it has now decided against it, not wanting the government’s stake in the corporation to decrease.
The measures will make PNSC competitive by adding edge to its operations rather than privatizing it for achieving. immediate. monetary gain.
