ZULFIQAR AHMAD

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday outlined the government’s ambitious plans to reform the maritime and energy sectors, signalling a major push to unlock the country’s economic potential.

The prime minister while chairing a high-level meeting to review progress on the government’s wide-ranging reforms in the maritime sector, emphasised that these reforms would not only reduce costs but also improve the nation’s competitiveness on the global stage.

PM Sharif underscored the transformative efforts under way to modernise port infrastructure, streamline customs processes, and fortify the maritime economy for the long haul. He commended the taskforce working on these reforms for their diligent efforts in crafting a comprehensive set of recommendations aimed at ending decades of stagnation in the sector. “Pakistan is blessed with a long coastline and rich maritime resources. With the right reforms, we can harness immense economic opportunities and elevate our ports to global competitive standards.”

He also highlighted a key achievement in the energy sector: a reduction of nearly Rs7.5 per unit in electricity tariffs, the result of focused work by a dedicated energy reform task force.

PM Sharif emphasised that the same results-oriented approach was now being applied to the maritime sector, which he noted would benefit various industries, including agriculture, commerce, trade, and manufacturing.

He elaborated that structural reforms were integral to the government’s broader economic strategy, which had already led to stabilisation of Pakistan’s macroeconomic indicators.

Sharif also drew attention to the recent dip in global oil prices, suggesting that the government was working to harness the long-term benefits of this trend for the national economy.

The meeting also included a detailed presentation on the roadmap for maritime reforms. It centred on the introduction of the Pakistan Maritime Port Act, standardising regulations across all ports, and the creation of a National Dredging Company to oversee port development. Plans to modernise the Pakistan National Shipping Corporation (PNSC) were also outlined, along with proposals for increased private sector involvement through public-private partnerships.

Additionally, the meeting focused on the establishment of a hazardous waste disposal plant in Gadani and the installation of modern scanning systems at all ports. Customs procedures were also on the agenda, with an emphasis on accelerating clearance times, particularly for shipments in red and yellow channels.

The prime minister called for swift action to auction long-held containers in order to free up valuable port space and improve operational efficiency.

The meeting also addressed the importance of conducting financial, human resources, and performance audits at national ports, along with efforts to enhance training at Karachi Port Trust.

PM Sharif acknowledged the tireless efforts of the maritime task force and other stakeholders involved in the reform process, stressing that the timely implementation of these changes was crucial for maintaining Pakistan’s competitiveness in an increasingly interconnected global economy.