Prime Minister Muhammad Shehbaz Sharif has directed authorities to develop a clear plan to encourage private sector investment in Pakistan’s shipping industry. He stressed the importance of reforms during a meeting held on Friday.
The premier emphasized the need to establish the National Shipping Corporation on corporate lines to improve its efficiency and competitiveness. He highlighted the critical role of the shipping sector in supporting Pakistan’s growing trade.
Shehbaz Sharif pointed out that the Pakistan-Afghanistan-Uzbekistan railway line would open new trade opportunities, allowing goods from Central Asia to be transported globally through Pakistani ports. This development makes improving rail and shipping links even more vital.
The prime minister also ordered efforts to increase the number of ships in Pakistan’s maritime fleet. This expansion will help reduce the country’s foreign exchange spending on freight, strengthening the national economy.
Additionally, he instructed the Ministry of Maritime Affairs and Pakistan National Shipping Corporation to propose reforms and a sustainable business model for the sector. These measures aim to attract more private investment and boost growth.
The meeting included Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Ahad Khan Cheema, Junaid Anwar Chaudhry, and other senior officials. The government hopes these reforms will enhance Pakistan’s position in regional trade.