Legislators concerned over non-registration of new ships for 2 decades

25
Ijaz Kakakhel
Islamabad

A legislative body of Upper House of parliament on Thursday expressed their concern on non-registration of new ships or companies since more than two decades.

During a meeting of Senate Standing Committee on Maritime Affairs, the members were informed that no company or ship has been registered in Pakistan except Pakistan National Shipping Cooperation (PNSC) ships because of the wavering policies which is not in favour of the investor.

“Due to changes and inconsistency in policies in terms of tax exemptions, incentives and tax regimes the investor has lost its confidence” the Chairman PNSC told the committee. The Committee examined a detailed comparison of the Global Practices in terms of preferences and incentives.

The Chairman PNSC was of the opinion that if the Polices and regimes become constant and competitive in the global market it will encourage the investors. The Secretary Maritime Affairs said that to resolve the issue of inconsistency in policy and compatibility to that of the global market a revised policy may be devised in relation to the current incentives and feasibility in terms of country’s capacity. The Committee sought brief on the revised policy within a fortnight.

Senate Standing Committee on Maritime Affairs met under the chairpersonship of Senator Rubina Khalid here at the Parliament House to discuss the Pakistan Merchant Marine Policy, 2001, and the amendments made therein in 2019, and to review the budgetary allocation and its utilization by the Ministry of Maritime Affairs and its attached departments, during Financial year 2021-22.

While reviewing the budgetary allocation and expenditure for the financial year 2021-22 and its utilization by the Ministry of Maritime Affairs. The Chairman Committee sought details on the expenditure made and revenue generated by the departments. The committee also demanded details of the developing budget on Port Qasim and Karachi Port Trust (KPT) and other departments.

 

Previous articleMobile import declines 4.19% to $1978.654m in FY 2022
Next articleJS Bank partners with Bank of Khyber for remittance payments