PNSC earns Rs 1.8 billion profit from cargo transportation: Senate panel told

Pakistan National Shipping Corporation (PNSC) earned a profit of Rs 1.8 billion last year as it transported 28.9 percent of the total cargo coming and going out of Pakistan. Chairman PNSC informed the Senate Standing Committee on Ports and Shipping Tuesday that his organisation was purchasing big cargo ships to enhance the business and earn more profit.
Chairman of the committee, Sardar Fateh Muhammad Hassani expressed his reservations over alteration in Pak-China Economic Corridor and decided to write a letter to the prime minister on the issue. "The change in the master plan would affect people of Balochistan and Khyber Pakhtunkhawa badly," he said.
Senator Taj Haider, member of the committee, said PNSC is an important organisation but unfortunately it is going down with the passage of time. "Pakistan is giving around $6 billion to foreign shipping companies annually," he said, adding that PNSC had 79 cargo ships, but only nine are in operation now. Chairman Gwadar Port Authority informed the committee about recruitment in the authority during last 10 years. "There are 316 employees of the authority in total and of them 277 belong to Balochistan," he said.
He said his organisation has acquired 584 acres of land from Pakistan Navy in return of 1,000 acres of land. "The feasibility for 300 megawatts coal power plant is being prepared while approval of new Gwadar International Airport is awaited from ECNEC," he said. Taj Haider suggested that a railways terminal and track should be established along the Gwadar Port to facilitate timely loading and unloading.
Chairman of the committee said that a case regarding acquisition of land for the railway track was pending in a court while Federal Investigation Agency has also submitted a report in this regard to the government. Secretary Railways informed the committee members that 411 acres of land is required for the terminal and efforts are under way to acquire it.
He said his ministry has already paid Rs 550 million to Balochistan government for acquisition of the land but no progress has been made so far. The secretary urged the committee members to direct the Balochistan government to facilitate Railways in the acquisition of land for the construction of the terminal along the Gwadar Port. The committee was also informed that China is working on different projects including setting up of LNG terminal and Steel Mills at Gwadar.