Prime Minister(PM) Shehbaz Sharif has approved the National Logistics Corporation’s 30 per cent stake acquisition in the state-run carrier, along with the transfer of management control and consolidation rights.
The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. PNSC said it had received formal communication from the Ministry of Maritime Affairs confirming the prime minister’s approval, in line with applicable laws and the company’s by-laws.
Following the directive, NLC has formally conveyed its intention to proceed with the proposed acquisition of shareholding and management control, according to the filing. Financial terms and a timeline for completion were not disclosed.
PNSC, which operates under the Ministry of Maritime Affairs, transports dry bulk and liquid cargoes worldwide. The company manages a fleet of 12 vessels with a total deadweight capacity of 938,876 tonnes. In addition to shipping operations, it also runs a real estate business and a repair workshop.
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