ISLAMABAD: The Pakistan National Shipping Corporation (PNSC) aims to generate an estimated $700 million in freight earnings by expanding its cargo fleet to 34 vessels over the next three years as part of a broad strategy to revitalise the country’s maritime and logistics sectors.

The announcement was made during a high-level meeting chaired by Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry. Officials informed the meeting that PNSC currently manages around 11pc of Pakistan’s cargo by volume and 4pc by value. The national carrier now targets increasing its cargo handling share to 52pc by volume and 43pc by value — excluding containerised cargo — within three years.

Participants stressed the need for PNSC to evolve into a globally competitive, technologically advanced, and environmentally sustainable organisation in line with international maritime standards. A core element of the strategy involves phased renewal and expansion of the corporation’s ageing fleet to improve cargo capacity, fuel efficiency, and compliance with International Maritime Organisation (IMO) regulations, particularly on carbon emissions and ballast water management.

Plans to expand its fleet to 34 vessels over the next three years

To strengthen domestic capability and reduce foreign dependence, the government plans to enhance collaboration between PNSC, Karachi Shipyard & Engineering Works, and local industries for the indigenous construction of cargo vessels, oil tankers, and container carriers. The initiative is expected to generate skilled employment, support local supply chains, stimulate industrial activity, and revitalise Pakistan’s shipbuilding sector — paving the way for the country to emerge as a regional maritime hub.

To finance the modernisation drive without straining the national budget, the strategy includes mobilising resources through public-private partnerships, maritime leasing models, and access to global green shipping funds.

The minister also underscored the importance of digital transformation in the maritime domain.

Published in Dawn, June 28th, 2025