Pakistan National Shipping Corporation
To develop and execute short-term and long-term business plans to ensure sustainable growth of the Corporation as the national flag carrier and a lead player in the shipping industry
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| Shipping industry | |
| Industry | Shipping and Vessel Industry |
| Genre | Megacorporation |
| Founded | 1971 |
| Founder | Prime minister Zulfikar Ali Bhutto |
| Headquarters | PNSC Building, Moulvi Tamizuddin Khan Road, Karachi – 74000 (Head Office), Karachi, Pakistan |
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Number of locations
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Gulberg Heights, Lower ground floor, Near sherpao bridge Gulberg, Lahore, Pakistan (Regional Office) |
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Key people
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Muhammad Siddique Memon (Chairman, CEO) |
| Products | Cargo Ships, Tankers, Container ships, and Bulk carriers |
| Revenue |
PKR Rs. 2000 Million (2010) 
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Rs. 1320.63 Million ,
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| Owner |
Government Share 77.13% PNSC Employees Empowerment Trust (12%) Financial institutions (3.80%) Individuals (7.07%) |
| Parent | Pakistan National Shipping Corporation Ordinance of 1979 |
Pakistan Merchant Navy refers to the fleet of state owned merchant vessels barring the flag of Pakistan National Shipping Corporation and Civil Ensign of Pakistan. Currently Pakistan Merchant Navy has a fleet of nine Vessels with the total of 611,411 DWT, which include one multipurpose General Cargo Ship, Three Aframax Oil Tankers and Six Bulk Carriers.
Pakistan Merchant Navy was formed right after independence in 1947. Pakistan inherited a fleet of four privately owned cargo ships. Ministry of Port and Shipping, Mercantile Marine Department and Shipping Office established by the government of Pakistan were authorized to flag the ship and also ensured that the vessel is sea worthy.
In 1963, the National Shipping Ordinance was promulgated and National Shipping Corporation (NSC) was established which procured its first used ship, M.V. Rupsa in 1965. The national fleet comprised some 53 vessels which were owned by 10 private shipping companies. The national fleet strength grew to a record 71 vessels just prior to the separation of East Pakistan and its emergence as Bangladesh in 1971. The fleet strength declined to 57 vessels after the separation.
On 1 January 1974 President of Pakistan Zulfiqar Ali Bhutto nationalized National Shipping Corporation (NSC) and Pakistan Shipping Corporation (PSC) and other private shipping companies. Nine private shipping companies with a total of 26 ships were nationalized. The national fleet strength increased to 51 vessels including 26 ships under the management of nine nationalized companies and 25 ships with the state-owned NSC. In 1977, 14 ships were inducted in the Pakistan Shipping Corporation (PSC) during the Fifth Five-Year Plan. Two years later, NSC and PSC were merged to form the Pakistan National Shipping Corporation (PNSC) which still remains the sole state-owned shipping corporation.
Later other nationalized companies were also merged into a single company as the Pakistan National Shipping Corporation, incorporated under the provisions of the Pakistan National Shipping Corporation Ordinance of 1979 and the Companies Ordinance of 1984, respectively. The total fleet strength increased to 60 ships with the induction of 14 vessels in the late 1970s and early 1980s. PNSC enjoyed a complete monopoly till the early 1990s when the shipping sector was deregulated by the Nawaz Sharif government.
Currently, the PNSC manages a fleet of 09 vessels which includes One Multipurpose General Cargo ship, 4 Aframax Oil Tankers, and Five Bulk Carriers with 660,411 DWT. Pakistan Tanker Company, a subsidiary of PNSC also has a single tanker for crude oil imports.
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Wikipedia