The National Flag Carrier, Pakistan National Shipping Corporation (PNSC), convened its 44th Annual General Meeting for the financial year 2021-22 on October 28, 2022, in Karachi. Chairman PNSC, Rear Admiral Jawad Ahmed, SI (M), chaired the meeting with all Executive Directors and other senior company officials.

Shareholders were apprised of record-breaking results as the company surpassed its previous financial performance.

Chairman PNSC informed that at the time of existence, Pakistan National Shipping Corporation had about cumulatively 500,000 DWT, and today we are operating more than 1.046 Million tons DWT, which is the highest ever in the history of PNSC.

Favourable market conditions and relentless efforts by the PNSC team have resulted in a significant increase in the net profit this year. After all taxes, PNSC earned a record profit of approx. Rs. 5.6 bn., an increase of 149% compared to the last year’s profit which was approximately Rs. 2.3 bn.

Chairman emphasised that in addition to enhancement of the carrying capacity for assured cargo, PNSC also needs to diversify its fleet. There is a strong need to penetrate new markets domestically, such as edible oil, LNG and LPG transportation.

Rear Admiral Jawad Ahmed, during his speech, praised the efforts of outgoing directors

Mr. Khawaja Obaid Ilyas and Capt. Anwar Shah welcomed newly elected BOD members Mr Ahsan Ali Malik and Capt. Sarfaraz Inayatullah.

Chairman PNSC concluded his address by thanking the participants and with a hope for PNSC’s continued performance for better results in future.