47. Pakistan Economic Survey 2011-12 - Consultancy Services in ...

Pakistan Economic Survey 2011-1213.4 (b) Pakistan National ShippingCorporationShipping is a highly competitive market drivenindustry; its profitability is dependent on optimumutilization of vessels, strict cost controls andmaximization in cargo lifting. The economicdownturn has affected every sector of the maritimeindustry and the PNSC was no exception. Despitethis PNSC remained profitable during the periodunder review. The Commercial performance of thePNSC translated into financial gains. The PNSCremained profitable during the first nine months offiscal year 2011-12.The consolidated revenue of the PNSC Groupduring July-March 2011-12 were Rs. 6640 million.One dry Combi vessel was sold for demolition as ithad completed its useful commercial life. TheCommercial and Financial performance of thePNSC (un-audited) from July-March 2011-12 isgiven in the following tables.Table 13.7: Commercial Performance(In Metric Tons)Cargo Lifted Jul-Mar 2011-12Liquid Cargo 5,804,294Dry Cargo 205,379Total (Dry + Liquid) 6,009,673Source: PNSCTable 13.8: Financial Performance (Rs. in 000)Jul-Mar 2011-12Revenue 6,639,971Fleet Expenses 5,173,907Gross Profit 1,466,064Other Income 327,412Expenses 1,541,464Profit before tax 252,012Source: PNSCTable 13.9: PNSC-Fleet Deadweight Tonnage(In MT)Year No. of ships Total DWT2007 14 536,8212008 14 536,8212009 11 477,2382010 10 633,2732011 11 646,6662012 10 628,409Source: PNSCThe Corporation intends to acquire four vessels oncommercial loan / joint venture-basis. Acquisitionof two vessels is in process, while two more willbe acquired in next financial year.13.4 (c) Gwadar PortThe Gwadar Port was inaugurated on the 20 th ofMarch, 2007 and started commercial operationsfrom March 2008. The government has decided toimport all bulk cargo comprising of Urea, Wheatand Coal through Gwadar Port. The total cargohandled at the port up till now is 4.1 million tones.Gwadar Port has earned total revenue since its startof operation amounting to Rs. 53.4 million.13.4 (d) Port Qasim AuthorityPort Qasim Authority was established in 1973 as asecond deep sea port of Pakistan. Port Qasimcaters around 40 percent shipping requirements ofthe country. PQA handled a cargo volume of 19.7million tones during July-March 2011-12. Thevolume of import cargo during July-March 2011-12 stood at 14.7 million tones, while the exportshandled during the same period was 4.9 milliontones.Table 13.10: Cargo Handled at Gwadar Port(000 Tones)Year Imports Exports Total2008 231.6 - 231.62009 1218.1 - 1218.12010 705.9 - 705.92011 462.5 - 462.52012 541.2 - 541.2Source: Gwadar Port AuthorityTable- 13.11: Cargo Handled at Port Qasim(00 Tones)Period Import Export Total2007-08 21,502 4,922 26,4242008-09 19,445 5,584 25,0302009-10 19,226 6,380 25,6262010-11 19.511 6,657 26,1682011-12 14,722 4,942 19,664(Jul-Mar)Source: Port Qasim Authority182