KARACHI - Pakistan National Shipping Corporation (PNSC) plans to conclude the induction of two oil-carrying ships by the mid of 2019, confirmed official sources.
These ships, called oil tankers, are estimated to be purchased at a cost of $40 million in accordance with the market prices under the given deadline and allocated budget.
In this regard, the national flag carrier received quotes from international companies but it is yet to finalize the ships, which will not be brand new but modern and refurbished vessels.
The purchase of these oil-carrying vessels by the PNSC should help meet the spiraling shipment demand of oil products in the country because of the rising consumption and imports of MOGAS or petrol.
The national flag carrier will induct these vessels, called LR-1 tankers, without any government grant or monetary assistance but from its own financial resources and bank loans, an official said.