ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved the transfer of management control and a 30 percent shareholding of the Pakistan National Shipping Corporation to the National Logistics Corporation.
The move aims to strengthen freight transport through integrated shipping and road networks.
Finance Minister Muhammad Aurangzeb chaired the ECC meeting. The committee also increased allowances for Kashmiri refugees and sanctioned supplementary grants worth Rs8.634 billion.
According to an official statement, the ECC granted in-principle approval to restructure PNSC through the sale of a 30 percent stake to NLC.
Government Plans Major Fleet Expansion
Prime Minister Shehbaz Sharif had earlier approved the proposal in February 2026.
The ECC directed authorities to speed up the restructuring process. Officials want to capitalize on growing maritime and transshipment opportunities.
PNSC currently operates 12 vessels with a carrying capacity of 938,876 tonnes. The corporation also manages ship repair facilities and real estate operations.
Officials expect the national fleet to expand to more than 50 ships within five years. As a result, Pakistan could save $5 billion to $6 billion annually in freight payments.
At present, PNSC handles only 12 percent of Pakistan’s sea cargo requirements.
Government Raises Refugee Allowance
The ECC increased the monthly subsistence allowance for Jammu and Kashmir refugees of 1989.
The government raised the allowance from Rs3,500 to Rs6,000 per person from February 1, 2026.
The committee also approved a supplementary grant of Rs578.838 million for payments until June 30, 2026.
ECC Funds Skills and Education Projects
The ECC approved Rs3.915 billion for the Prime Minister’s Youth Skill Development Programme.
The funding will support the National Vocational and Technical Training Commission and Daanish Schools in Azad Jammu and Kashmir, Gilgit-Baltistan, and Balochistan.
Meanwhile, the Ministry of Interior and Narcotics Control received two grants.
The ECC allocated Rs160 million for maintenance work at the Prime Minister’s Office during FY2026.
The committee also allocated Rs480 million for Frontier Corps KP (North) Hospital in Khyber district.
ECC Supports Health, Railways and Food Safety
The committee sanctioned Rs1.5 billion for the Prime Minister’s National Health Programme.
Similarly, the Ministry of Railways received Rs1 billion to clear liabilities under the Prime Minister’s Assistance Package.
The ECC also directed the Railways Division to review pension liabilities.
In addition, the committee approved Rs1 billion for the National Agri-Trade and Food Safety Authority.
New Gemstone Policy Gets Approval
The ECC approved the National Policy to Realise Pakistan’s Gemstone Potential 2026-30.
The policy aims to modernize mining practices, promote value addition and boost gemstone exports.
It also seeks to support economic development in Gilgit-Baltistan, Khyber Pakhtunkhwa and Azad Jammu and Kashmir.
