KARACHI: In pursuance to explore avenues for reduction in operational costs of the corporation, a Memorandum of Understanding (MoU) has been signed between Pakistan National Shipping Corporation (PNSC) and ENAR Petroleum Refining Facility on Thursday.

ENAR Petroleum Refining Facility will provide Very Low Sulphur Fuel Oil (VLSFO) for PNSC vessels. All PNSC vessels calling at Karachi Port will lift fuel oil locally which will reduce PNSC’s dependency on lifting fuel oil from foreign Ports.

This arrangement comes at a time when Pakistan is facing acute shortage of foreign exchange reserves and will prove to be a step in the right direction to put a stop on drain of foreign exchange from the country.

Copyright Business Recorder, 2023