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ISLAMABAD, Jun 9 (APP):In the first nine months of FY2024-25, Pakistan’s maritime sector achieved a commendable performance, reflecting its ability to thrive despite global economic uncertainties and freight market volatility.
As per Pakistan Economic Survey 2024-25 presented by Federal Minister for Finance Senator Muhammad Aurangzeb on Monday, this resilience positions the sector for continued growth and opportunities.
The Pakistan National Shipping Corporation (PNSC) reported a consolidated net profit after tax of PNSC (Group) achieved a net profit after tax of Rs 15,439 million (PNSC: Rs 3,711 million) as against Rs 14,686 million (PNSC: Rs 3,073 million) in the corresponding period last year.
The PNSC (Group) has achieved a turnover of Rs 28,405 million (including Rs 4,050 million from PNSC) as compared to Rs 34,842 million (including Rs 6,969 million from PNSC) in the corresponding period last year.
Additionally,Karachi Port Trust (KPT), the country’s premier port, saw a 4 percent increase in cargo handling, reaching 40.37 million tonnes during the same period, up from 38.8 million tonnes in FY24. KPT, which can handle over 125 million tonnes annually including 4.25 million TEUs, remains a key node for transshipment and transit trade.
Moreover, Port Qasim Authority (PQA) handled 33.769 million metric tonnes (MMT) of cargo from July to March FY25, slightly down 1.6 percent from 34.334 MMT the previous year. Imports made up 77.5 percent of total traffic, led by LNG, POL products, and coal. However, exports grew by 3.2 percent, totaling 7.587 million tonnes, driven largely by non-containerized goods such as cement, rice, and iron ore.
Meanwhile, Gwadar Port continued its strategic development under the management of China Overseas Ports Holding Company Limited (COPHCL). With over US$ 50 million invested, the port is now fully operational. The Free Zone’s Phase-I, built over 60 acres, has seen enterprises register in banking, logistics, food processing, and petrochemicals. The main free zone master plan covered 2,281 acres, with industrial units under construction.
As part of the China-Pakistan Economic Corridor (CPEC), several key infrastructure projects were in progress, including the completed 1.2 MGD Reverse Osmosis desalination plant, addressing Gwadar’s acute water shortages. Projects like the East Bay Expressway Phase-II are in feasibility stages, aimed at enhancing port connectivity.
The government has offered extensive incentives in the Gwadar Free Zone — including a 23-years complete tax holiday, 100% foreign ownership for foreign investors, and exemption from import duties — to attract both local and international investors.
Despite global headwinds and economic uncertainty, Pakistan’s maritime infrastructure continues to expand. However, stakeholders highlight the need for further policy support and global trade recovery to fully realize the sector’s potential.