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PNSC to sign MoU with Sri Lankan ports authority

PNSC to sign MoU with Sri Lankan ports authority

ISLAMABAD: A memorandum of understanding (MoU) will be signed between the Pakistan National Shipping Corporation (PNSC) and Sri Lankan Ministry of Highways, Ports & Shipping during upcoming visit of Sri Lankan President Mahinda Rajapaksa to Pakistan.
The Sri lankan Minister of Highways, Ports & Shipping Rajapaksa is due to visit Pakistan from August 21.
Under the said MoU the Sri Lankan Ministry of Highways, Ports and Shipping will give business to PNSC and will charter tankers and ships for imports and exports through PNSC.
This MoU will bring a great boom in the business of PNSC in the coming days and will increase economic activity which will further increase foreign exchange, capital flow and revenue generation.
Sources told Customs Today that in result of dynamic steps taken by the concerned ministry, PNSC has improved its reputation among international investors and its share rate has also increased to Rs 67 per share at Karachi Stock Exchange.
It is important to mention here that PNSC deals in transportation of dry bulk and liquid cargoes globally and has been listed on the KSE since 1980. The PNSC owns a fleet of double hull tankers, panama bulk carriers, Superamax, Handymax and Handysize bulk carriers, all modern vintage, having a total carrying capacity of over 642 thousand tonnes of deadweight.
It is also learnt that Sri Lankan Ports Authority (SLPA) has as per its vision 2020 aspires to achieve target cargo handling of 200 million tonnes, earn revenue of $ 1 billion and $ 10 billion Ports investments within the ports.