Karachi – The National Flag Carrier, Pakistan National Shipping Corporation (PNSC), convened its 45th
Annual General Meeting for the financial year 2022-23 on October 26, 2023 in Karachi.
Chairman PNSC, Rear Admiral Jawad Ahmed, HI (M), chaired the meeting with all Executive
Directors and other senior company officials.
The Board of Directors of PNSC on Wednesday 27 th September 2023, announced the
financial results for the year ended June 30, 2023. According to results announced, the
earnings per share of the PNSC (Group) is Rs.227.11 as against Rs. 42.75 in the comparable
period last year. PNSC has declared final cash dividend of Rs.15 per share (150%), which is
also the highest ever in the history of PNSC. Earlier during the year (2022-23). PNSC had
announced interim dividend of Rs. 5 per share (50%), making total cash dividend for the
year, Rs. 20 per share (200%).
Cumulatively, the Group achieved a turnover of Rs.54.8 billion as compared to Rs.27.8
billion last year. The major increase in freight revenue was observed from the transportation
of liquid cargo which increased by Rs.22 billion. During the year PNSC was able to
successfully add to its fleet two Aframax Oil Tankers (M.T. Sargodha & M.T. Mardan).
The Dry Cargo segment (including slot charter) increased by Rs.2.62 billion due to major
increase in slot charter revenue business from Public Interest Entities.
Chairman PNSC concluded his address by thanking the participants and with a hope for
PNSC’s continued performance for better results in future.
