Latest news with #PNSC
Arab News
3 hours ago
- Business
- Arab News
Pakistan PM orders expansion of national shipping fleet to cut $4 billion trade cost
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed authorities to lease new ships to expand the Pakistan National Shipping Corporation's (PNSC) fleet, aiming to reduce the $4 billion annual foreign exchange burden on sea-based trade. The directive comes as Pakistan looks to bolster its maritime trade capacity and reduce reliance on foreign shipping lines, which officials say significantly contributes to the country's widening trade deficit and puts pressure on foreign exchange reserves. Pakistan's sea trade plays a vital role in its economy, with over 90 percent of the country's imports and exports transported by sea. 'The prime minister directed that ships be acquired on lease to expand the fleet of the PNSC,' the PM Office said in a statement following a meeting on PNSC affairs chaired by Sharif. 'He noted that due to the limited number of ships in the PNSC fleet, the national exchequer incurs a loss of $4 billion annually in foreign exchange on sea-based trade.' Sharif instructed authorities to present a strategy within two weeks for the PNSC to eliminate this burden on the national treasury on account of freight charges. The development comes as Pakistan plans to enhance its maritime trade with other countries, including the East African Community, and establish direct sea links with Kenya, Uganda, Tanzania, Rwanda, Somalia, Burundi, South Sudan and the Democratic Republic of Congo. In February, Pakistan and Bangladesh also decided to begin passenger and cargo shipping services between the two countries. The PNSC inducted two $60 million Aframax oil tankers in 2019 to strengthen its oil transportation fleet. Pakistan also regularly collaborates with its counterparts from various parts of the world to ensure illicit activities such as smuggling, drug trafficking, and piracy are kept in check.
Business Recorder
14 hours ago
- Business
- Business Recorder
Pakistan to lease ships for PNSC to curb $4bn forex drain
In a bid to save much-needed foreign exchange, Prime Minister Shehbaz Sharif on Friday directed authorities to lease ships to expand the fleet of the Pakistan National Shipping Corporation (PNSC). The development came during a review meeting on PNSC matters held in Islamabad, read a statement released by the Prime Minister's Office (PMO). Chairing the meeting, PM Shehbaz noted that due to the shortage of vessels in PNSC's fleet, the country is compelled to spend $4 billion annually from the national exchequer on sea-borne trade. The prime minister has sought a business plan for PNSC, which should be presented within two weeks. As per the PMO statement, the plan should outline a roadmap to eliminate the $4 billion annual burden on the national treasury. During a briefing on PNSC's performance, it was informed that the organisation currently possesses ten ships of various types, with a total cargo-carrying capacity of 724,643 tons. PNSC is Pakistan's national flag carrier, primarily engaged in the transportation of dry bulk and liquid cargoes globally. It was established in 1979 by merging the National Shipping Corporation (NSC) and the Pakistan Shipping Corporation. PNSC operates under the Ministry of Maritime Affairs, Government of Pakistan. Federal Minister for Economic Affairs Ahsan Iqbal Cheema, Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, and senior officials of PNSC were also present at the meeting. Earlier in February, PM Shehbaz greenlit an extensive reform initiative designed to revive the country's maritime industry. The key components of the reform plan encompass restructuring of PNSC, the modernisation of the National Ports Master Plan and standardisation of tariffs throughout the country's ports.
Business Recorder
05-05-2025
- Business
- Business Recorder
IBA Karachi, PNSC to support future leaders through scholarship endowment
KARACHI: In a significant step toward strengthening access to quality higher education, IBA Karachi has joined hands with Pakistan National Shipping Corporation (PNSC) to support future leaders through scholarship endowment. PNSC has contributed Rs 10 million to IBA for the establishment of a perpetual scholarship endowment. The cheque handover ceremony was held at Main Campus, IBA Karachi, in which Sultan A. Chawla, Chairman, PNSC, presented the contribution to Dr S Akbar Zaidi, Executive Director, IBA Karachi. This partnership marks the beginning of a long-term collaboration between two institutions committed to building capacity and creating pathways for underserved communities. Copyright Business Recorder, 2025
Express Tribune
07-04-2025
- Business
- Express Tribune
'Maritime, energy reforms to boost trade'
Prime Minister Shehbaz Sharif on Monday said that the reforms in maritime and energy sectors would boost trade, reduce costs, and unlock Pakistan's economic potential. The prime minister made these remarks while chairing a high-level meeting to review progress on the government's wide-ranging reforms in the maritime sector. He emphasized that comprehensive efforts were underway to transform country's port infrastructure, streamline customs operations, and strengthen the country's maritime economy for long-term national benefit. He hailed the task force on maritime reforms for its diligent work and praised their efforts in preparing a comprehensive set of recommendations that aim to end decades-long stagnation in the sector. "Pakistan has been blessed with a long coastline and vast maritime resources. With the right reforms, we can unlock immense economic potential and bring our ports to global competitive standards," Prime Minister Shehbaz said. He noted that reduction in electricity tariff of almost Rs7.5 per unit was a direct result of the focused work of a dedicated task force on reforms in energy sector. The premier stressed that the same results-driven model was now being applied to the maritime sector. "This electricity tariff reduction is a major relief not only for households but also for all sectors like agriculture, commerce, trade, and industry. It will bring down the cost of production, improve local manufacturing, generate employment, and enhance exports," he stated. The prime minister noted that structural reforms remained central to the government's economic strategy, which had already stabilized Pakistan's macroeconomic indicators. He also highlighted the opportunity presented by the recent drop in global oil prices, and assured that the government was working to harness its long-term benefits for Pakistan's economy. The meeting reviewed a detailed presentation on the roadmap for maritime sector reforms. The participants of the meeting were briefed on introduction of the Pakistan Maritime Port Act, unifying regulations across all ports, creation of a national dredging plan, including the formation of a National Dredging Company to serve ports across the country. The forum also discussed modernization of the Pakistan National Shipping Corporation (PNSC) with a 25-year rehabilitation plan and inclusion of the private sector through public-private partnerships. It was informed that a hazardous waste disposal plant was set up in Gadani to manage chemical and industrial waste.
Express Tribune
09-03-2025
- Automotive
- Express Tribune
A glimpse of vintage Pakistan
For every collector, reminiscing about a bygone era is like travelling through time. Safdar Nensey's coffee-table book, Pakistan: Splendours of The Yore, captures that sentiment from the very beginning with its thought-provoking foreword, which reads as follows. 'Pakistan is a fractured nation. Collecting is a way of putting it back together again.' This is how the foreword reads. The book captures his collection of vintage advertisements, postcards, trade cards, maps, coins, matchboxes, stereographs, and ancient metal craft. The book also showcases advertisements published as far back as the 1920s, in British Indian cities that presently constitute Pakistan. While vintage collections make one wonder how quality was not compromised before capitalism changed the world for the better and worse, Nensey's book makes you wonder what life would have been like a few decades ago had you been there after witnessing the present. 'Past, in my vocabulary, is never dull. Rather, it is a venerable ancestor, a living force to reckon with, and learn from,' he writes. Nensey further suggests that we usually learn about history from books, but these books reflect the opinions and viewpoints of the people who wrote them. However, if we look at objects from the past—like coins, ads, maps, and photos—we can see history in a different way. By observing these ourselves, we can form our own ideas about history, based only on what we see, not on someone else's interpretation. Nensey's collection takes you on a tour of yesteryear's copywriting wonders in Pakistan. 'The Chevrolet Touring — an all-season car' advertised by Naraindas & Co. was a status symbol; while not much has changed about owning a luxurious car in the present day as well, only a handful of people could afford and own vehicles. It was mostly the British or the upper class of native Indians. Ships were a common mode of transport around the world, including India and although for instance, it is unheard of now that Hajj pilgrims would travel by ship, Pakistan's shipping industry once dominated this space. MV Shams (1994) under PNSC was the last ship to perform Hajj service before eventually being scrapped . These advertisements depict the cultural fusion which emanated during and post British rule. While photo enamelling is now unheard of now, Parker is still the pen of choice for collectors and those who still prefer writing as opposed to merely only typing. Typewriters, now serving as decoration pieces for those who have a unique taste for vintage items such as individuals or museums like the TDF Ghar once occupied spaces in newspapers and magazines. Orient Airways was a commercial airline established in 1946 in British India by Mirza Ahmed Ispahani and Adamjee Haji Dawood and was based in Calcutta. After the partition in 1947, it merged with Pakistan government's proposed airline to form PIA and operate in Pakistan, playing a key role in transporting migrants and cargo between the two wings of the newly formed country. In 1955, Orient Airways merged with several smaller airlines to form the national flag carrier, Pakistan International Airlines (PIA). This merger was part of the government's strategy to create a unified, state-owned airline to better serve the country's growing aviation needs. After the merger, Orient Airways ceased to exist as an independent entity. An ad highlights East Pakistan as a vibrant and integral part of Pakistan, once celebrated as an exotic tourist destination before its eventual separation. It embodies the kind of messaging we urgently need today as part of a nationwide awareness campaign to foster a sense of ownership and responsibility towards our country. Its message holds significant value for both citizens and the government, emphasising the need for a collective effort to cultivate a deeply rooted civic sense across all levels of society. The second half of the book walks the reader through the collection of vintage photographs and postcards. Although saris have largely become party wear following the Islamisation of the 1980s or remain casual attire for certain ethnicities that maintain close ties to their cultural traditions, this elegant dress is no longer commonly worn. Earlier, women wore them wherever they wished too, from bazaars and markets, to work and formally. The book has some rare pictures which have become memories and evidence of an assimilated and diverse culture, that is no more existent. Now what is a vintage collection without pictures of old Karachi? Yes, incomplete! The author has gathered some fine pictures of the Venetian architecture of Karachi's past glory which shows how livable the city was and so profoundly elite. It also shows some pictures taken during the Bubonic plague and the measures taken to contain the outbreak. Karachi experienced an outbreak of the bubonic plague in 1896 during British colonial rule. The plague, part of the Third Pandemic that originated in China in the mid-19th century, reached Karachi from Calcutta via maritime trade routes, likely through infected rats on ships. As a major port city, Karachi's dense population and bustling trade made it particularly vulnerable. Pictures of other cities too, show what they looked like in the past. Another section of the book highlights Pakistan's rich tradition of metal-craft, from the ancient use of copper in the Indus Valley to the brass work of Peshawar's 'mizgars'. It features a range of functional and decorative items, showcasing expert craftsmanship and cultural heritage. Included are pieces from the author's collection, blending ancient artifacts and more recent items passed down through generations. A significant part of the book honours the author's late father, a passionate coin collector who, despite limited means, built an extensive collection of rare coins. It explores the historical significance of these coins, highlighting their role in tracing a country's culture, economy, and history. Through a selection of coins, including those from the Mughal dynasty and various ancient mints in what is now Pakistan, the chapter delves into the field of numismatics, showing how coins can provide insights into the political, economic, and religious conditions of past eras. Another section delves into the history of books, tracing their origins from ancient Sumerian clay tablets to the Chinese invention of paper. It explores the art and passion of collecting rare books, with a focus on the distinction between old, rare, and antiquarian books. The author shares insights into their own collection of vintage books and manuscripts, particularly those over 100 years old, with an emphasis on works in Urdu, Persian, and Arabic. Images of title pages from the collection are included, offering a glimpse into the author's curated selection of books related to the Indo-Pakistan subcontinent and the Islamic world. Nensey pens the history and evolution of antique maps, highlighting their role in reflecting historical changes and boundaries. The book features a selection of antique maps from the Indo-Pakistan region and references the book Rare Maps of Pakistan by Fakir Syed Aijazuddin. Matchboxes too were once articulately designed focusing on imagery based on that period's regime. Pakistan: Splendours of the Yore is a remarkable journey through time, offering readers a chance to connect with the rich and diverse heritage through a carefully curated collection of vintage items. Safdar Nensey's passion for preserving history is evident in the captivating photographs, advertisements, maps, coins, and other artifacts, each telling its own story of cultural evolution and historical significance. The book not only highlights the beauty of the past but also serves as a poignant reminder of how much we can learn from the objects that once shaped our world. It is a great contribution towards archiving and documenting material culture. Nensey's compilation goes beyond mere nostalgia, inviting readers to engage directly with history through tangible objects, fostering personal interpretations and a deeper understanding of the nation's cultural evolution. Heba Moeen is a communication professional, an artist and a wildlife photographer. She can be reached at All facts and information are the sole responsibility of the writer
