ECC approves PNSC restructuring through 30% stake sale to NLC

Pakistan's top economic decision-making body on Tuesday approved the restructuring of state-owned Pakistan National Shipping Corporation (PNSC) through the sale of a 30% stake and transfer of management control to the National Logistics Corporation (NLC).

The move is aimed at tapping emerging maritime and transshipment opportunities and modernizing Pakistan's shipping sector.

What did the ECC decide about PNSC restructuring?

The Economic Coordination Committee (ECC) of the Cabinet granted in-principle approval to a Ministry of Maritime Affairs proposal to restructure PNSC.

The plan involves selling a 30% minority stake to NLC, a military-run logistics organization, along with the transfer of management control. The ECC directed authorities to expedite the process.

The restructuring is part of Pakistan's wider push to revive state-owned enterprises and expand maritime trade opportunities.

What other decisions did the ECC announce on May 19?

The ECC meeting, chaired by Finance Minister Muhammad Aurangzeb, also approved PKR 3.9 billion for the Prime Minister Youth Skill Development Programme through the National Vocational and Technical Training Commission (NAVTTC).

The funds will also support the establishment of Danish Schools in Azad Jammu and Kashmir, Gilgit-Baltistan, and Balochistan.

Separately, PKR 1.5 billion was approved for the Prime Minister National Health Programme, formerly known as Sehat Sahulat. The program aims to expand publicly financed healthcare coverage.

The ECC approved a 70% increase in monthly subsistence allowances for refugees from Indian-administered Kashmir who migrated in 1989. Payments will rise from PKR 3,500 to PKR 6,000 per person. The new rate is effective from February 1, 2026.

The ECC approved PKR 1 billion for operationalizing the National Agri-Trade and Food Safety Authority (NAFSA).

NAFSA was established to strengthen food safety and agricultural regulatory standards in line with international trade requirements.

The committee endorsed the National Policy to Realize Pakistan's Gemstone Potential 2026-2030. The policy targets formalizing the gemstone sector and promoting value-added exports.

It also aims to improve mining practices in Gilgit-Baltistan, Khyber Pakhtunkhwa, and Azad Jammu and Kashmir.