Prime Minister Shehbaz Sharif on Friday instructed relevant authorities to formulate a comprehensive business plan for the Pakistan National Shipping Corporation (PNSC) within two weeks, aimed at reducing the annual $4 billion burden on the national exchequer linked to maritime trade.

During a detailed briefing, officials informed the prime minister that the PNSC currently operates a fleet of 10 ships of various types, with a combined cargo capacity of 724,643 tons.

The prime minister chaired a high-level meeting on PNSC affairs, and emphasized the urgent need to expand the corporation’s fleet by acquiring additional ships on lease.

He noted that Pakistan is compelled to spend approximately $4 billion each year on maritime trade due to the limited number of vessels in the PNSC fleet.

The meeting was attended by Minister for Economic Affairs Ahad Khan Cheema, Minister for Maritime Affairs Junaid Anwar Chaudhry, and senior PNSC officials.