PM Approves Reform Plan For Maritime Sector Revival
Prime Minister Shehbaz Sharif has approved a comprehensive reform plan for the complete revival of the maritime sector,
under which the Pakistan Maritime and Sea Port Authority has been established.
A high-level committee has been formed for the effective implementation of the reform plan, which will be headed by the Minister of Defense.
The committee will include senior officers of various institutions, and a meeting will be held every fortnight, in which all approved measures will be monitored.
The Pakistan National Shipping Corporation will be restructured, the National Ports Master Plan will be renewed and the tariffs of all ports in the country will be brought to a uniform standard.
Special attention will be paid to other sectors including digitalization of ports and aquaculture, while new terminals will be built at various ports.
According to experts, Pakistan is losing five trillion rupees annually in the maritime sector, the reasons for which include not using the full capacity of ports,
tax evasion, and fake billing. The country is also losing billions of rupees due to misuse of the Afghan transit trade system.
According to experts, the maritime sector is losing Rs 1120 billion annually due to tax evasion.
Economic experts have termed a comprehensive reform plan as the need of the hour. They say that effective implementation of reform measures and digitalization of ports will significantly improve the country’s economy.
