Federal Minister for Ports and Shipping Senator Mir Hasil Khan Bizenjo has praised the reforms of the present government in exempting duties and taxes on the procurement of ships, which has finally set the stage for the development of the maritime sector in Pakistan.
Addressing a seminar organised by the Pakistan National Shipping Corporation (PNSC) on “Prospects of Shipping Sector in Pakistan”, he said that his ministry is presently working with the support of other ministries to improve the port infrastructure, streamline supply chain management and develop the existing national fleet.
Senator Mir Hasil Khan Bizenjo also highlighted the volatility, which prevails in international shipping and also shared the reasons that resulted in the recent downturn which has posed significant risks to the shipping market.
“Pakistan’s maritime sector is important especially in the context of the CPEC projects being completed by 2018 and our ports, especially the Gwadar port will play a pivotal role in bolstering regional trade,” he added.
He said: “I believe that we are back on track and the only thing that matters now is that we work jointly with full devotion and dedication in strengthening our maritime sector by enforcing policies that support our trade.”
The minister further expressed his full faith and confidence in the management of the PNSC for utilising full benefits from these taxation reforms and thanked the chairman and management for holding the seminar.
“I completely understand the importance of each stakeholder and their role and also recognise the valuable efforts that they are making. I believe that all issues of the maritime industry need immediate attention and resolution for which we all have to work together.
“The Ministry of Ports and Shipping assures that all possible support will be extended to the interested parties who come forward for the development of this sector for a prosperous Pakistan,” Bizenjo said.
The seminar was attended by prominent representations from Pakistan’s shipping industry and stakeholders from both the public and private sectors.
Addressing the seminar, PNSC Chairman Arif Elahi highlighted the global perspective on the role of merchant shipping.
He also briefed about the merchant shipping of Pakistan, specifically the role of the PNSC in uplifting trade and economic activity and supporting the oil supply chain of Pakistan.
He praised the efforts of the Ministry of Ports and Shipping in abolishing the customs duty, general sales tax and withholding tax on the import of ships and all the floating crafts including tugs, dredgers, survey vessels and other specialised crafts purchased or bareboat-chartered by Pakistani entities as well as vessels flying the Pakistan flag.