The Ministry of Maritime Affairs organized a workshop in order to refurbished the draft of ‘Pakistan Shipping Policy 2024’ as per the directions of Federal Minister Qaiser Ahmed Shaikh. The aim of this workshop is to refine the draft before being presented in cabinet. This policy will replace Pakistan Merchant Marine Policy 2001 and its amended version of 2019. Secretary Maritime Affairs Syed Zafar Ali Shah, chairperson of port authorities, senior officials of ministry of maritime affairs and stakeholders from private sector participated in this workshop. The Secretary of Maritime Affairs while giving the opening remarks said that we have drafted the Shipping Policy 2024 in accordance with the standards and rules of the International Maritime Organization. Later, the Deputy Secretary presented the important points of draft before the participants. All the participants thoroughly reviewed the policy and expressed satisfaction with almost most of its proposals in the plenary session. The most important point of the policy is to make it possible by legislation to furnish a bond of adequate amount to the owners of any registered ship if it is detained or seized for any reason within the territorial jurisdiction of Pakistan, and it should be within 24 hours after taking surety bond. Moreover, the government should ensure that if the case is settled, the bail bonds are returned within one month. In this regard, a help desk should also be established within the Ministry of Maritime Affairs and special courts related to maritime affairs should also be established having powers equal to the High Court. The draft also proposes that the newly registered Pakistani Shipping Company will pay USD 0.75 per gross registered tonnage for five years, while currently the Pakistan National Shipping Corporation (PNSC) is paying USD 1 per gross registered tonnage on its revenue. The USD 0.25 rebate to new companies is intended to encourage domestic and national investors to show interest in maritime industry. The draft policy on ship recycling emphasized that it should be given the status of ‘industry’ at both federal and provincial level, so that more private investors would invest in it and Pakistan will become the top most ship recycling country in the world likewise in 1980. According to the proposed draft, all private and public marine training institutions must obtain a license from the Ministry of Maritime Affairs through the Director General of Ports and Shipping. In addition, Institutions established for training should submit their annual capacity building plan as per national and international rules and regulations as well as annual performance report to DG Ports. More important in the draft is that registered Pakistani shipping companies would be allowed to seek financing from foreign financial institutions and banks. A proposal to grant tax exemption for 10 years to new foreign shipping companies is also considered. Besides, it is recommended to provide assistance to Pakistan shipping companies in opening foreign currency accounts.
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