February 15, 1977 - Maritime Reporter and Engineering News

Pakistan Nationalizes Entire Merchant Fleet

As of January 1, the federal government of Pakistan took over the management of all shipping companies in Pakistan, including the National Shipping Corporation.

This action was taken in accordance with the people's government policy of nationalizing major industries. The resulting firm is called the Pakistan Shipping Corporation.

The nine shipping companies which have been transferred to the Pakistan Shipping Corporation, and the number of ships involved are: Pan-Islamic Steamship Co. Ltd. (6 ships), Muhammadi Steamship Co. Ltd. (5 ships), Pakistan Shipping Line Ltd. (2 ships), Chittagong Steamship Corporation (1 ship), Gulf S h i p p i n g Corporation Ltd. (1 ship), Trans Oceanic Steamship Co. Ltd. (3 ships), Crescent Shipping Lines Ltd. (1 ship), East & West Steamship Co. (2 ships), and United Oriental Steamship Co. (3 ships). The total fleet of 24 ships has a deadweight tonnage of 296,656.

The chairman of the board of this government-owned firm is Saeed Ahmad. The headquarters of the firm is in Karachi.

Other stories from February 15, 1977 issue


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