PNSC signs MoU to carry edible oil from Far-East to Pakistan

Today, Pakistan National Shipping Corporation (PNSC) signed a Memorandum of Understanding (MoU) with the M/S IMGC and Waheed Group of Industries consortium to transport edible oil from the Far East to Pakistan.

Every year Pakistan imports edible oil for more than 3 billion USD, of which a substantial portion is paid on account of freight charges in USD. With the signing of the MoU, edible oil importers will be in a better position to reduce the cost of imports, which will benefit the local populace.

This venture will open up a new era for PNSC to enter an untapped market whose beneficial stakeholders will be Pakistan and the end consumer of Edible oil products.

This arrangement comes at a time when the country is facing an acute shortage of foreign exchange reserves. This initiative will save foreign exchange and ensure edible oil’s economical and reliable availability in Pakistani markets.



Posted in Ports & Shipping News.

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