Federal Government Delays PNSC Privatization to Focus on Revitalization
ISLAMABAD – The federal government has decided to postpone the privatization of the Pakistan National Shipping Corporation (PNSC) to explore alternative funding sources and focus on revitalizing the organization.
Rather than selling shares on the stock market, the government aims to enhance PNSC’s operational capacity, particularly by expanding its fleet. Currently, the government holds an 87 percent stake in PNSC, while 10.87 percent is owned by the general public and employees’ funds.
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In a recent board meeting, PNSC’s performance was reviewed, with discussions centered around improving the corporation’s commercial viability in logistics. However, concerns were raised about the corporation’s aging fleet, which has impacted its overall utility and effectiveness.
The Ministry of Maritime Affairs had earlier submitted a proposal to the cabinet committee to sell additional shares in the stock market as a means to generate capital. However, the ministry has expressed reservations about this approach, citing the strategic importance of the institution and the need to maintain government control over its operations.
