A major development has emerged in Pakistan’s shipping sector as 30 percent shares of the Pakistan National Shipping Corporation (PNSC) have been sold, sources said. The development has taken place at the Ministry of Maritime Affairs level.
According to sources, the sale of shares gained importance after the addition of five new vessels to PNSC’s fleet. The 30 percent stake has been acquired by a local logistics corporation.
Sources said that following the sale, the new company may obtain management control of PNSC. The local corporation already has experience in operating maritime vessels, which is being seen as a key factor.
However, the final date for the new management to formally take control of PNSC has not yet been decided, sources added.
