Shipping Sector (Industry) In Pakistan

Federal Minister for Ports & Shipping Mir Hasil Khan Bizenjo told that we want to establish and developed shipping sector and that’s why we are giving duties and taxes exemption on import of shipping products. Pakistan National Shipping Corporation (PNSC) will make a key role to make Gwadar biggest business hub of Pakistan in near future.

Federal Minister for Ports & Shipping was addressing a seminar in Karachi on “Prospects of shipping sector in Pakistan”. This seminar was held by Pakistan National Shipping Corporation. At this moment Federal Secretary For Ministry of Ports & Shiping Khalid Pervez, Chairman of PNSC Arif Alvi, Chairman Port Qasim Authority Agha Jan Akhtar, Commander COMPAK Vice Admiral Syed Arifullah Hussaini and other prominent representatives of PNSC were present.

The purpose of this seminar was to introduce tax exemption which is provided by present government on withholding tax and custom duty on import of ship and aircraft’s. On the other hand it will promote the shipping sector of Pakistan, promulgate policies and attract foreign investors.

Senator Hasil Khan Bizenjo told that new investment will come in shipping sector. It will create great positive impact on the economy of Pakistan and sea ports. Further he told that China–Pakistan Economic Corridor (CPEC) as well as shipping sector will be developed gradually.

Federal Secretary For Ministry of Ports & Shiping Khalid Pervez told that current seaborne trade of Pakistan 73 billion tones and we expect that it will reach 95 billion tones by 2020. Further he told that stakeholders should avail full benefits from these exemptions of duties and taxes. We are offering to stakeholders for investment and joint ventures because we are acquiring new ships for own usage. It will not only save the country’s valuable foreign exchange and reduce dependency on foreign carriers.

Federal Minister appreciates efforts which is made by the PNSC team in commercial and financial sector. They are introducing the tax reforms in organization and thanked them for organizing such as informative seminar. 

By Talha Pasha

Leave a Reply