Islamabad: The federal government has postponed the privatization plan of the National Shipping Corporation.
According to details, the federal government has postponed the plan to sell the shares of the Pakistan National Shipping Corporation in the stock market because the government wants to obtain additional funding from some source instead of privatization of the institution and make it an active institution by increasing the number of ships.
It should be noted that the government’s share in PNSC is 87.0 percent shares, while the general public and employees’ funds own 10.87 shares.
According to sources, the board meeting of the institution reviewed whether the institution can be more commercially effective in providing logistics.
However, due to the aging of the ships, it is gradually losing its usefulness, so there is a need to immediately arrange funding sources for it so that it can prove more useful in the coming years.
In this context, the ministry had sent a summary to the cabinet committee in which it was suggested that more of its shares be offered for sale in the stock market to obtain funding. However, the ministry had also expressed its reservations about this in view of the strategic importance of the institution.
