ECC approves sale of 30% PNSC stake, transfer of management control to NLC

The Economic Coordination Committee (ECC) of the cabinet on Tuesday granted in-principle approval for the sale of a 30% stake in Pakistan National Shipping Corporation to National Logistics Corporation along with transfer of management control, formally initiating the restructuring process of the state-owned shipping company.

According to a statement issued by the Ministry of Finance, the decision was taken during an ECC meeting chaired by Finance Minister Muhammad Aurangzeb.

The finance ministry said the Ministry of Maritime Affairs had submitted a summary seeking approval for the transaction.

The ECC directed relevant authorities to expedite the process in view of emerging maritime and transshipment opportunities.

The government had earlier constituted a task force on maritime affairs, which recommended handing over management of PNSC to NLC.

PNSC operates Pakistan’s sea transportation business, while NLC manages trucking and cargo transportation services across the country.

Following the ECC’s approval, authorities will now determine the sale price and complete other formalities required for transfer of management control from the Ministry of Maritime Affairs to NLC.

The ECC meeting also approved supplementary grants exceeding Rs8.6 billion ahead of the close of the current fiscal year. Among the approvals was a technical supplementary grant of Rs160 million for repair and maintenance work at the Prime Minister’s Office during FY2025-26.