Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has launched a major initiative to expand and modernize national shipping fleet as part of efforts to strengthen maritime infrastructure and reduce reliance on foreign vessels.
Chairing the agreements’ signing meeting, the federal minister said the initiative is designed not only to cut sea freight bill and conserve foreign exchange, but also to support climate-smart maritime practices by strengthening a cleaner and more efficient domestic fleet.
The minister said Pakistan plans to increase its shipping capacity by six hundred percent over the next three years, with a focus on incorporating greener technologies and energy-efficient vessels into the state-owned fleet.
Karachi Port Trust (KPT) and Port Qasim Authority (PQA) have signed separate agreements with the state-run Pakistan National Shipping Corporation (PNSC), pledging financial support for the fleet expansion plan.
