Pakistan: Subsidy for ship-building industry
Tuesday, 28 February 2012 | 00:00
The PIDC has asked the Central Government to subsidise the ship-building industry by about 30 per cent. The proposal, forwarded last week, is understood to have been made after a thorough study of the world market prices and the factors involved in the promotion of the industry.
The Karachi Shipyard and General Engineering Works, with its modern equipment and technical know-how, is capable of producing three ocean-going ships annually of 10,000 to 11,000 tons dead-weight.
This, however, pre-supposes that the shipyard will have an additional dry dock for preparing, and additional berths for ship-building. The shipyard’s Second Phase provides for both facilities.
The need for strengthening Pakistan’s modest fleet of merchant navy has been highlighted by the growing realisation that Pakistan Shipping Lines is not in a position to lift its quota of 42 per cent, allotted by the Conference Lines which has been raising cargo freights for a variety of reasons.
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