ISLAMABAD: Pakistan plans to add three new oil tankers to its national shipping fleet by the end of this year, the maritime affairs minister said on Friday, as the government seeks to expand the Pakistan National Shipping Corporation’s (PNSC) capacity and reduce reliance on foreign carriers.
Prime Minister Shehbaz Sharif directed authorities earlier this year to lease new ships to expand the PNSC fleet, aiming to reduce the roughly $4 billion annual foreign exchange burden on sea-based trade. Pakistan’s maritime sector plays a vital role in the economy, with more than 90 percent of the country’s imports and exports transported by sea.
“The PNSC has decided to expand its fleet to 15 vessels, with three oil tankers to be added by December this year,” Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said in a statement. “Our target is to operate a 30-vessel fleet by 2026.”
Chaudhry said the new ships would be named MT Karachi, MT Lahore, and MT Quetta, adding that approval had been granted for their purchase and fresh tenders issued for 12 more vessels.
The expansion is part of a broader effort to strengthen Pakistan’s maritime logistics and enhance trade links with other countries, including members of the East African Community. In February, Pakistan and Bangladesh also decided to begin passenger and cargo shipping services between the two countries.
