PNSC sell-off planned

PNSC sell-off planned 

 The government plans to privatise the Pakistan National Shipping Corporation (PNSC) and as a first step it has decided to withdraw first right of refusal given to the corporation for the haulage of public sector cargoes.

Sources in the ministry of shipping confided that the PNSC which had suffered huge losses in the past lately started making profits, but the same plunged to Rs57million last year.

Sources said that it had been decided, in principal, that prior to full privatisation, the PNSC would be made to compete with foreign and domestic shipping lines on a level-playing field which means that no government subsidies or reservation on public sector cargoes would be allowed.

The state-owned PNSC presently enjoys monopoly like advantages regarding shipping reservation for the haulage of public sector cargoes which is around 12 to 15 percentofthe totalsea trade of the country.

The first right of refusal to the PNSC was viewed as necessary to ensure services are available to the government in extreme cases where national security may be at stake.

The PNSC presently has afleet of nine vessels, which include five bulk carriers mv Kaghan, mv Chitral, mv Malakand, mv Hyderabad and mv Sibi. Besides there are three tankers MT Quetta, MT Lahore and MT Karachi and one combie vessel, mv Islamabad.

However, lately there had been realisation amongst policy-makers that the role of private sector in providing shipping services for government trade was equally vital.

Therefore, it has been felt that the PNSC be initially asked to compete on an even basis with all competitors for providing transport and freight services to government cargo.

Deputy chairman of Planning Commission Dr Nadeem-ul-Haque last month chaired a meeting in the Planning Commission to discuss the draft of the National Transport Policy and the implementation status of the cabinet-approved Trucking Policy (logistic policy).

The cabinet has already approved draft of both the policies but it would only be implemented after peer review by expert committee of 13 members which also includes two former directorsgeneral of Ports and Shipping Capt Anwar Shah and Shahid Aziz Siddiqui.