The Ministry of Maritime Affairs has launched a major initiative to expand and modernise the national shipping fleet as part of efforts to strengthen maritime infrastructure and reduce reliance on foreign vessels.
Chairing the agreements’ signing meeting, Muhammad Junaid Anwar Chaudhry, the maritime minister, said the initiative is designed not only to cut sea freight bills and conserve foreign exchange, but also to support climate-smart maritime practices by strengthening a cleaner, more efficient domestic fleet.
Junaid said Pakistan plans to increase its shipping capacity by 600% over the next three years, with a focus on incorporating greener technologies and energy-efficient vessels into the state-owned fleet, read an official statement.
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The Karachi Port Trust (KPT) and Port Qasim Authority (PQA) have signed separate agreements with the state-run Pakistan National Shipping Corporation (PNSC), pledging financial support for the fleet expansion plan.
The agreements were signed by A. Abdullah Zaki, representing KPT’s Transition Management Committee, and Rear Admiral (R) Syed Moazzam Ilyas HI(M), Chairman of PQA, with PNSC CEO Syed Jarar Haider Kazmi.
According to the statement, the accords were finalised days after a high-level policy meeting chaired by Junaid Chaudhry, in which maritime stakeholders agreed to align fleet modernisation with environmental sustainability and national climate goals outlined by the prime minister’s office.
KPT and PQA officials stressed that modernising the fleet would not only conserve foreign exchange and enhance trade connectivity but also significantly lower the environmental cost of sea freight by minimising fuel consumption and enabling compliance with international emission standards.
“This initiative reflects our broader vision to modernise the maritime sector, boost operational efficiency, and introduce advanced technologies across all institutions,” Junaid said, adding that the government remains committed to transparency and merit-based decision-making.
In its notice to the Pakistan Stock Exchange (PSX), Pakistan National Shipping Corporation (PNSC) informed that it received Letters of Intent (LoIs) from KPT and PQA to “jointly explore investment opportunities in enhancement of fleet/shipping business”.
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