KARACHI: Pakistan plans to expand its national shipping fleet by 600% over the next three years under a sweeping new initiative to modernize its maritime sector, cut sea freight costs, and reduce dependence on foreign vessels, the country’s maritime minister said on Tuesday.
The announcement came after a signing ceremony where officials from the Karachi Port Trust (KPT) and Port Qasim Authority (PQA) inked separate agreements with the Pakistan National Shipping Corporation (PNSC) to finance the fleet expansion and upgrade program.
“This initiative reflects our broader vision to modernize the maritime sector, boost operational efficiency and introduce advanced technologies across all institutions,” Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said according to an official statement.
Chaudhry said the expansion would focus on integrating energy-efficient and climate-smart vessels into the state-run fleet to align with Pakistan’s national climate goals.
He said the plan is aimed at conserving foreign exchange and enabling compliance with global environmental standards.
