Islamabad: The Ministry of Maritime Affairs organized a workshop to review and refine the draft of the ‘Pakistan Shipping Policy 2024’ under the guidance of Federal Minister Qaiser Ahmed Shaikh. The workshop aimed to polish the draft before its presentation to the cabinet. This new policy is set to replace the Pakistan Merchant Marine Policy 2001 and its amended version from 2019. Key attendees included Secretary Maritime Affairs Syed Zafar Ali Shah, chairpersons of port authorities, senior officials from the ministry, and private sector stakeholders.
According to Press Information Department, the Secretary of Maritime Affairs, Syed Zafar Ali Shah, noted in his opening remarks that the Shipping Policy 2024 has been drafted in line with the standards and regulations of the International Maritime Organization. The Deputy Secretary later highlighted significant points of the draft to the participants. The workshop’s attendees reviewed the policy extensively and showed satisfaction with most of its proposals during the plenary session.
A major highlight of the policy is the provision to furnish a bond of adequate amount to the owners of any registered ship detained or seized within Pakistan’s territorial jurisdiction, with surety bonds to be provided within 24 hours. The draft stipulates that resolved cases should see bail bonds returned within a month, with the establishment of a help desk within the Ministry of Maritime Affairs and special maritime courts possessing powers equivalent to the High Court.
The draft policy also proposes that newly registered Pakistani Shipping Companies will pay USD 0.75 per gross registered tonnage for five years, compared to the current USD 1 per gross registered tonnage paid by the Pakistan National Shipping Corporation (PNSC). This rebate aims to encourage domestic and national investment in the maritime industry. The draft also emphasizes granting the ship recycling sector ‘industry’ status at both federal and provincial levels, aspiring for Pakistan to regain its position as a leading ship recycling nation, similar to its status in the 1980s.
Further proposals include mandatory licensing for all private and public marine training institutions from the Ministry of Maritime Affairs via the Director General of Ports and Shipping. Training institutions are required to submit annual capacity building plans and performance reports in accordance with national and international guidelines.
Moreover, the draft suggests allowing registered Pakistani shipping companies to seek financing from foreign financial entities and banks. Consideration is also being given to granting a 10-year tax exemption to new foreign shipping companies and assisting Pakistani shipping companies in opening foreign currency accounts.