The federal government has decided to postpone the privatization of the Pakistan National Shipping Corporation (PNSC) to explore alternative funding options and revitalize the organization. Instead of selling additional shares on the stock market, the government plans to enhance PNSC’s operational capacity by expanding its fleet.

Currently, the government holds an 87 percent stake in PNSC, while 10.87 percent is owned by the general public and employees’ funds.

In a recent board meeting, PNSC’s performance was reviewed, and strategies were discussed to improve the corporation’s commercial viability in logistics. However, concerns were raised about its aging fleet, which has been reducing the organization’s overall utility and effectiveness.

The Ministry of Maritime Affairs had earlier submitted a proposal to the cabinet committee to sell additional shares in the stock market to generate capital. However, the ministry expressed reservations about this approach, citing the strategic importance of the institution as a reason to maintain the government’s stake in the company. The decision reflects the government’s focus on strengthening PNSC’s operations rather than reducing its ownership.