'Maritime, energy reforms to boost trade'

Express Tribune

07-04-2025

Prime Minister Shehbaz Sharif on Monday said that the reforms in maritime and energy sectors would boost trade, reduce costs, and unlock Pakistan's economic potential.
The prime minister made these remarks while chairing a high-level meeting to review progress on the government's wide-ranging reforms in the maritime sector. He emphasized that comprehensive efforts were underway to transform country's port infrastructure, streamline customs operations, and strengthen the country's maritime economy for long-term national benefit.
He hailed the task force on maritime reforms for its diligent work and praised their efforts in preparing a comprehensive set of recommendations that aim to end decades-long stagnation in the sector.
"Pakistan has been blessed with a long coastline and vast maritime resources. With the right reforms, we can unlock immense economic potential and bring our ports to global competitive standards," Prime Minister Shehbaz said.
He noted that reduction in electricity tariff of almost Rs7.5 per unit was a direct result of the focused work of a dedicated task force on reforms in energy sector.
The premier stressed that the same results-driven model was now being applied to the maritime sector.
"This electricity tariff reduction is a major relief not only for households but also for all sectors like agriculture, commerce, trade, and industry. It will bring down the cost of production, improve local manufacturing, generate employment, and enhance exports," he stated.
The prime minister noted that structural reforms remained central to the government's economic strategy, which had already stabilized Pakistan's macroeconomic indicators.
He also highlighted the opportunity presented by the recent drop in global oil prices, and assured that the government was working to harness its long-term benefits for Pakistan's economy.
The meeting reviewed a detailed presentation on the roadmap for maritime sector reforms.
The participants of the meeting were briefed on introduction of the Pakistan Maritime Port Act, unifying regulations across all ports, creation of a national dredging plan, including the formation of a National Dredging Company to serve ports across the country.
The forum also discussed modernization of the Pakistan National Shipping Corporation (PNSC) with a 25-year rehabilitation plan and inclusion of the private sector through public-private partnerships. It was informed that a hazardous waste disposal plant was set up in Gadani to manage chemical and industrial waste.