Shipping Sector Of Pakistan

Shipping Industry of Pakistan Presented by: Muhammad Zain Presented to: Invest Capital

News 

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FED on port services to affect shipping traffic (Tuesday, 23 Jun, 2009 ). PNSC is planning to scrap seven more of its elderly ships by the end of next year (Monday, 27 Apr, 2009). Seafood exports likely to touch $220 million (Tuesday, 26 May, 2009). PNSC will buy four new ships including one oil container and three cargo ships (Saturday, 31, Jan, 2009). PNSC officers’ incentives increased (Sunday, 21 Jun, 2009).

Importance of Transport Sector Transportation contributes to the economic, industrial, social and cultural development of any country.  It generates employment opportunities.  Economies with better road network are positioned more advantageously in terms of overall competitiveness.  Four basic modes of transport includes: 5. Ocean 6. Air 7. Rail 8. Road 

Pakistan Shipping Industry Shipping industry in the private sector had a setback in 1974.  Shipping is a capital intensive industry.  Three ports includes: 4. Port Qasim 5. Karachi Port Trust 6. Gawadar Port 

Overseas Trade—

Size of Fleet

Duty and Taxes for Importer 1. 2. 3. 4. 5.

Custom Duty Sales Tax Income Tax Federal Excise Duty Excise and Taxation (ETO)

Benefits to Importer    

SRO 1 SRO 2 SRO 3 SRO 4

509(I) 2007 567(I) 2007 638(I) 2007 655(I) 2008

No Sales Tax No Custom Duty Income Tax 1% No FED

Benefits to Exporter 

Rebate

SWOT Analysis Strengths    

Capital Intensive. Shipping industry and yard has been developing at Gawadar. Skilled Labor. Three Ports namely Port Qasim, KPT and Gawadar Port.

SWOT Analysis Weaknesses    

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Unnecessary charges. Shipment delays and delays in receipts of goods are commonplace. PNSC and other ports & shipping organizations are over staffed. Nepotism and the lack of management produce inferior quality services. Lack of proper planning and absence of basic coordination with other transport sub-sectors. Port’s are expensive than the regional ports, including Dubai, Colombo and Singapore.

SWOT Analysis Opportunities 

Lucrative strategic geographic location.

Threats 

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some countries are considering measures to support their economies by limiting imports. High duty and taxes from the government. Poor image of the country.

Bibliography         

http://www.brecorder.com http://www.pakistaneconomist.com http://www.findia.net http://www.dawn.com http://www.finance.gov.pk http://www.vinamaso.net http://www.nation.com.pk http://www.geo.tv Moorad Shipping News