KARACHI: A ceremony to renew a memorandum of understanding (MoU) between Directorate General of Defence Purchase (DGDP) and Pakistan National Shipping Corporation (PNSC) was recently held in Islamabad. PNSC and DGDP have enjoyed a strong working relationship for over two decades now. PNSC Chairman Arif Elahi and DGDP Director General Major General Naveed Ahmed signed the MoU. Others present at the occasion included: PNSC executive directors and DGDP director shipping. Both organisations recognised that national merchant marine was a vital resource to any country, providing essential sea lifting capability in wartime or other national emergencies, and protecting the nation’s sea trade from foreign flags. It also helps in maintaining a pool of skilled seafarers available in time of such emergencies, they said. Speaking at the occasion, the PNSC chairman stated that the renewal of the mutually beneficial agreement between DGDP and PNSC was of great strategic importance to the country. He also added that in light of an Economic Coordination Committee decision, all government organisations should designate national shipping as their shipping partner of choice for savings of precious foreign reserves which will also help PNSC to increase the tonnage / its fleet. He stated that the PNSC was in the process of developing a diversified fleet to maintain seaborne capability of all products. The PNSC chairman, while highlighting the fleet development plan / diversification in business model, stated that the PNSC was in the process of inducting 2 Aframax, 1 LR Tanker, commencement of coastal ferry service between Karachi-Port Qasim, Karachi -Gwadar and the PNSC’s plan to build transit storage of oil at Kiamari Karachi, which will enable PNSC to increase turnaround of tankers that will increase the revenue. Both the heads of the organizations thanked each other for the mutual cooperation and expressed their desire to continue this in the future. Published in Daily Times, November 8th 2017.