National shipping entity seeks business with TCP

PNSC says it would help the company grow and save Pakistan millions

ISLAMABAD: Pakistan National Shipping Corporation (PNSC) has sought assistance of the government to ask the Trading Corporation of Pakistan (TCP) to employ their services over the foreign ones so that they could expand their business along with saving money for the national exchequer.

PNSC Chairman Muhammad Siddique Memon stated this at the meeting of Senate Standing Committee on Ports and Shipping, where he sought the help of the standing committee to recommend the government for asking the TCP to sign a contract with the national shipping company.

Siddiqi opined that PNSC is currently lifting Pakistan State Oil (PSO)’s petroleum and it helped saving $78 million annually by paying fare in Pakistani rupees rather than dollars to any foreign company. He said TCP would also be able to save up to $10 million annually if it gives its business to the PNSC and pay the fare in the local currency. The committee decided to recommend the government to ask its various departments to use PNSC services particularly the TCP.

Gwadar Port

While briefing the committee, chairman Gwadar Port Authority (GPA) Dostain Khan Jamaldini said that Chinese Overseas Ports Holding Corporation (Ltd) has mobilised its initial team to the port and it would be partially operational till June 30, 2015.

He said prime minister has approved Pakistan Navy’s 584 acres of lands to GPA for further transfer to COPHC for establishment of Gwadar Port Free Zone. He said that ministry of defence and Pakistan Navy are processing the case to hand over the land to the GPA.

Moreover, chairman of the committee raised concern that Chinese government does not want to allow any other country to invest in the port except its own companies and the Chinese loans also directly go in the accounts of these companies rather in the government of Pakistan’s account.

Pak-China Economic Corridor

The committee again expressed its concern over changing of the Pak-China corridor route from K-P and Balochistan cities to Punjab and Sindh. The chairman said it is a dishonesty that the original route has been changed.

Published in The Express Tribune, December 24^th, 2014.