Islamabad, Jan 3: The federal government has decided to postpone the privatization of the Pakistan National Shipping Corporation (PNSC) in order to explore alternative funding options and revitalize the organization.
Key Points:
- Focus Shift: Rather than selling shares on the stock market, the government aims to improve PNSC’s operational capacity by increasing its fleet.
- Current Ownership: The government holds an 87% stake in PNSC, with 10.87% owned by the public and employees’ funds.
- Performance Review: A recent board meeting discussed PNSC’s performance, focusing on improving its commercial viability and logistics operations.
- Aging Fleet Concerns: One of the major concerns is the aging fleet, which is impacting the corporation’s utility and effectiveness.
- Previous Proposal: The Ministry of Maritime Affairs had proposed selling additional shares in the stock market to raise capital but raised reservations due to PNSC’s strategic importance.
This decision reflects the government’s intention to maintain control over the corporation while addressing its operational challenges.
