Zaidi lauded the commerce ministry’s role in the formulation of the policy, saying that the new shipping policy has been finalised jointly with the shipping businesses that were directly related to the commerce ministry. “Under the impact of the new shipping policy, we will soon see registration of 3-4 local shipping companies, which will also ensure job security for our seafarers,” Zaidi said. He said although a strong shipping industry was eventually developed in Pakistan, it went to near collapse after the nationalisation policy of 1972, with only the public sector – Pakistan National Shipping Corporation (PNSC) — remaining in business. “While the private sector regained its position in other areas of businesses, the shipping side remained neglected by the private investors,” he said. He said the government aims to invite the private sector in the shipping business, assuring complete facilitation in this regard.

Source: Pakistan Today August 07, 2020 18:00 UTC