Pakistan to buy tankers

The government of Pakistan has launched a program to develop domestic capacity to import petroleum products. Pakistan National Shipping Corp. (PNSC) has been permitted to purchase an oil tanker to save foreign exchange monies paid to foreign transporters. Further tanker acquisitions are planned.

Pakistan at present imports 8-9 million tonnes/year of crude oil, according to Akram Sheikh, federal communications secretary. He said the government plans to acquire an oil tanker every 6 months until an indigenous shipping capacity to import petroleum products is developed.

He also said that professionals from the private sector who have the experience of running industries and making exports had been inducted into the board of directors of PNSC. He expressed the hope that these measures would improve the commercial viability of PNSC.