The Pakistan National Shipping Corporation has disclosed that it has received formal communication regarding a proposed acquisition of its shareholding and management control by the National Logistics Corporation. The government has decided to transfer the state-run Pakistan National Shipping Corporation’s (PNSC) management to the military-run National Logistics Corporation (NLC).  Following the prime minister’s directive, NLC has formally conveyed its intention to proceed with the proposed acquisition of both equity stake and management control in PNSC.  The government’s current drive to privatize state-owned enterprises (SOEs) is a key requirement of the International Monetary Fund’s (IMF) $7 billion loan program. The global lender wants Islamabad to privatize its loss-making state assets to save valuable revenue.   PNSC is principally engaged in the business of shipping, including charter of vessels, transportation of cargo and other related services and providing commercial, technical, administrative, financial and other services to its subsidiaries and third parties in relation to the business of shipping.  NLC is a government-owned multimodal logistics and construction organization that manages critical, large-scale transport and infrastructure projects. (ICE ISLAMABAD)

Fonte notizia: propakistani