On Monday, Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh announced that Pakistan National Shipping Corporation (PNSC) could participate in the privatization program to enhance its effectiveness in serving the country. He made this statement at an event organized by the Karachi Chamber of Commerce & Industry to honor him for his appointment as federal minister.

The minister stressed the importance of adding container vessels to the PNSC fleet, which currently consists of six tankers and five bulk carriers. He deemed the inclusion of container vessels essential given the local demands.

For the six-month period ending on 31st December 2023, the PNSC Group generated a profit after tax of Rs.9.49 billion, compared to Rs.11.99 billion in the corresponding period of the previous year. The Group’s net profit margin experienced a slight decrease from 41% in the previous corresponding period to 40%.