KARACHI, Sept 18: The government will take all possible measures to create an enabling environment and encourage the shipping industry as it is a crucial element in the logistic chain, said Prime Minister Shaukat Aziz in a meeting with the ship-owners at Sindh Governor’s House on Sunday.

The prime minister said the government was reinvigorating the current shipping policy in consultation with stakeholders to build a shipping industry in Pakistan which is globally competitive and creates new job opportunities.

The prime minister said that economic reforms of the government were based on three pillars, deregulation, privatization and liberalization. He referred to the success of the government policy in deregulating the telecom sector which, he said, had resulted in expansion of telecom industry and lower tariff due to competition besides providing more coverage and better service.

These reforms, the prime minister said, had been acknowledged by international institutions and the World Bank in its recent report on business practices has ranked Pakistan high and an attractive country on the basis of its performance and reforms in South Asia.

Mr Aziz said that rapid economic growth had resulted in increase in cargo traffic which was encouraging for the shipping industry as it pointed towards higher potential for the future of industry.

The prime minister said that government would work to assist in establishing and operating Pakistani flag vessels and bring about all the necessary legislative and administrative changes to give our entrepreneurs and opportunity to compete for local cargo by deploying Pakistani flag vessels under a policy umbrella which compared favourably to other countries. Shipping industry is a major potential employer of our seamen and attained a high share of cargo traffic to and from Pakistan.

The ship owners apprised the prime minister of the problems of the industry and gave suggestions for improving the shipping industry.

The prime minister directed the ministry of ports and shipping to convene a meeting with ship owners within 45 days and submit proposal to the government for necessary action for revitalizing the shipping industry.—APP