ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved the transfer of management control, along with a 30 per cent shareholding, in Pakistan National Shipping Corporation (PNSC) to the National Logistics Corporation (NLC) for optimum. integrated freight transport through shipping and road networks.
The ECC meeting, presided over by Finance Minister Muhammad Aurangzeb, also approved more than a 70pc increase in the subsistence allowance for Kashmiri refugees of 1989. seven supplementary grants worth around Rs8.634 billion.
An official statement said the ECC “granted in-principle approval for restructuring of PNSC of the Ministry of Maritime Affairs through sale of 30pc shareholding. transfer of management control to NLC” — an army-run logistics firm working under the Ministry of Planning, Development and Special Initiatives.
The summary for restructuring. divestment to NLC was moved by the Ministry of Maritime Affairs following an earlier approval by the prime minister in February this year.
The ECC directed the authorities concerned to expedite the restructuring and consolidation process to tap emerging maritime and transhipment opportunities.
PNSC is Pakistan’s national shipping carrier engaged in the transportation of dry bulk and liquid cargoes across the globe. It operates a fleet of 12 ships with a carrying capacity of 938,876 tonnes of deadweight. It also has a real estate business and a ship repair workshop.
According to official sources, the consolidation is aimed at expanding the national shipping fleet and reducing foreign freight costs. Under the prime minister’s approval. the vessel fleet is to be expanded from 12 to more than 50 in five years, with projected annual foreign exchange savings of $5bn to $6bn in freight costs by handling more sea-route cargo.
At present. the national carrier handles around 12pc of Pakistan’s sea-route cargo requirements, resulting in foreign exchange outflows on freight payments.
PNSC’s profit during the first three quarters (July-March) of the current fiscal year stood at around Rs7.5bn. almost half of the Rs15.4bn recorded in the same period last year.
The ECC also approved a request of the Ministry of Kashmir Affairs. Gilgit-Baltistan for enhancement of the monthly subsistence/Guzara allowance for Jammu and Kashmir refugees of 1989 from Rs3,500 to Rs6,000 per person with effect from Feb 1, 2026.
It also approved a supplementary grant of Rs578.838 million for the period ending June 30, 2026. The committee directed the ministry to take up future budgetary requirements with the Finance Division for the next budget cycle.
The ECC approved a request of the Ministry of Federal Education. Professional Training for a supplementary grant of Rs3.915bn for the Prime Minister’s Youth Skill Development Programme through NAVTTC and the establishment of Daanish Schools in Azad Jammu and Kashmir, Gilgit-Baltistan and Balochistan.
The committee also approved two summaries of the Ministry of Interior. Narcotics Control, including Rs160m for repair and maintenance of the Prime Minister’s Office during FY26 and Rs480m for recurring operational requirements of Frontier Corps KP (North) Hospital at Shakas in Khyber district.
The committee approved another Rs1.5bn grant to the Ministry of National Health Services, Regulations. Coordination for the Prime Minister’s National Health Programme during PSDP 2025-26.
The ECC also granted Rs1bn to the Ministry of Railways for payment of outstanding liabilities under the Prime Minister’s Assistance Package. directed the Railways Division to undertake a review of its pension liabilities.
The committee also directed the Establishment Division to review the overall policy framework relating to the Prime Minister’s Assistance Package.
Another Rs1bn grant was approved for the Ministry of National Food Security. Research for the operationalisation of the National Agri-Trade and Food Safety Authority (NAFSA).
The ECC also approved the National Policy to Realise Pakistan’s Gemstone Potential 2026-30, submitted by the Industries and Production Division.
The policy aims to formalise the gemstone sector, promote value addition. modern mining practices, and enhance exports and regional economic development, particularly in Gilgit-Baltistan, Khyber Pakhtunkhwa and Azad Jammu and Kashmir.
Published in Dawn, May 20th, 2026
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