KARACHI: President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Chairman National Business Group Pakistan and Chairman Policy Advisory Board FPCCI, Mian Zahid Hussain, has welcomed Prime Minister Shehbaz Sharif’s directions to expand and modernise the fleet of Pakistan National Shipping Corporation (PNSC), describing the initiative as a major step towards strengthening the country’s trade sovereignty, energy security and foreign exchange position.
Mian Zahid Hussain said increasing Pakistan’s own shipping capacity was essential to reduce dependence on foreign shipping companies and contain the billions of dollars paid annually in freight charges.
He appreciated the Prime Minister’s decision to direct the acquisition and leasing of additional vessels and preparation of a comprehensive plan to bring PNSC up to international standards. He said economic sovereignty could not be achieved while Pakistan remained heavily dependent on foreign shipping companies for the movement of its imports and exports.
He also appreciated Field Marshal Syed Asim Munir’s role in promoting regional peace and strategic stability in the Gulf, saying efforts to reduce regional tensions, strengthen ties with Gulf countries and facilitate the restoration of commercial shipping through the Strait of Hormuz were important for Pakistan’s energy security, trade and exports.
According to Mian Zahid Hussain, PNSC inducted three modern oil tankers—MT Karachi, MT Lahore and MT Quetta—during January and February 2026 at a combined cost of approximately US$193.15 million. The vessels added 272,039 deadweight tonnes of carrying capacity, taking the number of PNSC-managed vessels from 10 to 13.
The corporation currently operates eight tankers and five bulk carriers. The additional tanker capacity, he said, would improve the reliability of petroleum transportation and reduce Pakistan’s dependence on expensive spot chartering of foreign vessels.
He said that under the Prime Minister’s directions, PNSC was expected to increase its fleet from 13 to 30 vessels by the end of 2027. The expansion programme includes the proposed addition of three to five feeder container ships, each with a capacity of 1,100 to 2,000 TEUs, by the end of 2026.
The addition of five such vessels could take the PNSC-managed fleet from 13 to 18 ships and provide additional shipping capacity for Pakistan’s trade with Gulf countries, the Red Sea and South Asia.
Mian Zahid Hussain also welcomed the construction of a 1,100-TEU container vessel at Karachi Shipyard and Engineering Works at a cost of US$24.75 million, saying the project would support Pakistan’s domestic shipbuilding and marine engineering industries. However, he noted that as construction milestones extend until December 2027, chartered vessels may still be required to meet immediate shipping needs.
He said Pakistan’s exports to Gulf countries rose 2.1 percent to US$1.944 billion during January-July 2026, with the UAE accounting for 65.9 percent of the total. Reliable Pakistani feeder services connecting with regional hubs such as Fujairah and Khor Fakkan could help protect exporters of food products, textiles, rice, surgical instruments, sporting goods and engineering products from freight-rate volatility, he added.
Mian Zahid Hussain said Pakistan reportedly pays around US$4.6 billion annually in freight charges to foreign shipping companies. Even shifting a modest share of this cargo to Pakistani-owned vessels could conserve foreign exchange and improve the bargaining position of Pakistani exporters.
He stressed that all future ship acquisitions should be conducted transparently through competitive financing and on commercially viable terms. He called for assured two-way cargo, fixed weekly sailing schedules, refrigerated containers, agreements with international mainline shipping companies and faster port clearance.
He cautioned that simply increasing the number of ships would not automatically translate into higher exports, stressing that professional management, commercial discipline, modern port infrastructure and effective coordination among stakeholders would be equally essential to achieve sustainable economic gains and export growth.
