The Pakistan National Shipping Corporation (PNSC) is an autonomous megacorporation owned and run under the control of the Ministry of Ports and Shipping of Pakistan

Pakistan

Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

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History

In 1971, then President

President of Pakistan

The President of Pakistan is the head of state, as well as figurehead, of the Islamic Republic of Pakistan. Recently passed an XVIII Amendment , Pakistan has a parliamentary democratic system of government. According to the Constitution, the President is chosen by the Electoral College to serve a...

 Zulfiqar Ali Bhutto nationalized all Pakistan-based shipping companies. Among the companies that were nationalized were the Muhammadi Steamship Company Limited

Muhammadi Steamship Company Limited

Muhammadi Steamship Company Limited was one of the oldest locally owned shipping companies in Pakistan until it was nationalised in the early 1970s.-History:...

 and the East & West Steamship Company

East & West Steamship Company

East & West Steamship Company was one of the oldest locally owned shipping line in Pakistan until it was nationalised in 1974. Its ship, was the first ship ever registered at the newly established Port of Registry at Karachi in August 1948. It was owned by the Cowasjee family. The company was...

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The nationalized companies were later 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 company has a number of subsidiaries.

On April 21, 2010 Pakistan National Shipping Corporation (PNSC) acquired its third state of the art modern double hull Aframax oil tanker named M.T. “KARACHI” for its subsidiary company, M/s. Karachi Shipping (Pvt) Limited. The M.T. KARACHI is a July 2003, Japanese built, 107,081 deadweight tonnage, double hull, Aframax crude oil tanker. The vessel has been purchased from a company owned by M/s Tsakos Energy Navigation Ltd. - Greece. Induction of M.T. KARACHI is another milestone in heralding an era of rejuvenation, expansion and amplification of PNSC fleet through induction of modern ships to serve Pakistan’s trade and also of the world at large.

Operations

"PNSC" is the national flag carrier managing a fleet of 11 vessels. The Corporation's head office is located in Karachi. A regional office based in Lahore caters for upcountry shipping requirements. The Corporation also has an extensive overseas network of agents looking after its world wide shipping business.

PNSC is principally engaged in the business of shipping, including charter of vessels, transportation of cargo and other related services. The Group is also engaged in renting out its properties to tenants under long term lease agreements. The Group's registered office is located in Karachi

Karachi

Karachi is the largest city, main seaport and the main financial centre of Pakistan, as well as the capital of the province of Sindh. The city has an estimated population of 13 to 15 million, while the total metropolitan area has a population of over 18 million...

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PNSC has the following subsidiary companies:

• Bolan Shipping (Private) Limited.
• Chitral Shipping (Private) Limited.
• Hyderabad Shipping (Private) Limited.
• Islamabad Shipping (Private) Limited.
• Johar Shipping (Private) Limited.
• Kaghan Shipping (Private) Limited.
• Khairpur Shipping (Private) Limited.
• Lalazar Shipping (Private) Limited.
• Makran Shipping (Private) Limited.
• Malakand Shipping (Private) Limited.
• Multan Shipping (Private) Limited.
• Sargodha Shipping (Private) Limited.
• Shalamar Shipping (Private) Limited.
• Sibi Shipping (Private) Limited.
• Swat Shipping (Private) Limited.
• Karachi Shipping (Private) Limited.
• Lahore Shipping (Private) Limited.
• Quetta Shipping (Private) Limited.
• Pakistan Co-operative Ship Stores (Private) Limited.

Associate Company

• Muhammadi Engineering Works

National Tanker Company (Private) Limited (NTCL) was an associate company of the Group. The Group owned 50% of the shares capital of NTCL. However, on May 11, 2006, the Group acquired the remaining 50% share capital (1,677,083 shares) of NTCL against total consideration of Rs.168,764,862 based on fair market value of Rs.100.63 per share. Subsequent to the year end NTCL's name has been changed to Karachi Shipping (Private) Limited.

The Group owns 55% of the share capital of Pakistan Co-operative Ship Stores (Private) Limited and 100% of the share capital of the remaining eighteen subsidiary companies. All the fully owned subsidiaries of the Corporation operate one vessel/tanker each except Karachi, Lahore and Quetta Shipping (Pvt.) Ltd. – 2006.

Board of directors

PNSC Board is nominated by the government of Pakistan. There are five nominated directors, including the chairman, and two directors elected by the shareholders. In addition to above there are five Executive Directors who assist the chairman in the day-to-day affairs of the corporation and head following divisions:

• Administration Division
• Finance Division
• Commercial Division
• Ship Management Division
• Special Projects and Planning Division.

Chairmen

Number	Chairmen	From	To
1	Rear Admiral Rear Admiral Rear admiral is a naval commissioned officer rank above that of a commodore and captain, and below that of a vice admiral. It is generally regarded as the lowest of the "admiral" ranks, which are also sometimes referred to as "flag officers" or "flag ranks"...  L.M. Mungavin	01 January 1979	12 April 1980
2	Rear Admiral Abdul Waheed Bhombal	12 April 1980	01 November 1986
3	Vice Admiral Vice Admiral Vice admiral is a senior naval rank of a three-star flag officer, which is equivalent to lieutenant general in the other uniformed services. A vice admiral is typically senior to a rear admiral and junior to an admiral...  Yastur-ul-Haq Malik	01 November 1986	08 November 1988
4	Vice Admiral Saeed Muhammad Khan	08 November 1988	12 March 1990
5	Rear Admiral S. Hamid Khalid	08 August 1990	15 August 1991
6	Vice Admiral Ahmad Tasnim	08 November 1991	21 April 1992
7	Vice Admiral Mansurul Haque	17 August 1992	06 November 1994
8	Rear Admiral Jawaid Ali (Acting)	07 November 1994	28 December 1996
9	Vice Admiral Abaidullah Khan	29 December 1996	03 November 2000
10	Vice Admiral S. Tauquir H. Naqvi	06 November 2000	05 November 2007
11	Vice Admiral Sikandar Viqar Naqvi	07 November 2007	06 November 2009
12	Brigadier General Brigadier General Brigadier general is a senior rank in the armed forces. It is the lowest ranking general officer in some countries, usually sitting between the ranks of colonel and major general. When appointed to a field command, a brigadier general is typically in command of a brigade consisting of around 4,000... Rashid Siddiqi	07 November 2009	21 March 2011
13	Vice Admiral Saleem Ahmed Meenai	21 March 2011	To Date

Fleet

PNSC operates 09 vessels:

• Three multi-purpose cargo ships
• Three Aframax tankers
• Three bulk carrier

Dead Weight Tonnage: 565, 273 DWT

The share holding of the corporation is as follows:

Authorized Capital Rs. 2000 Million

Paid up Capital Rs. 1320.63 Million

Government Share 77.13%

PNSC Employees Empowerment Trust 12%

Individuals 7.07%

Institutions 3.80%