Pakistan’s shipbuilding industry has received a major boost as the Karachi Shipyard begins work on the country's first significant commercial cargo ship in four decades. The 1100 TEU Container Ship Project, previously delayed for nine months, has been revived by the Special Investment Facilitation Council (SIFC), a hybrid civil-military body established in 2023 to attract foreign investment in key economic sectors.
State broadcaster Radio Pakistan reported that the project will involve collaboration between the Pakistan Navy, Karachi Shipyard, and Pakistan National Shipping Corporation. The $24.75 million contract aims to construct the ship locally, offering a cost advantage over international market rates.
“This is a key step toward reducing dependence on foreign shipping companies and promoting Pakistan’s economic self-sufficiency,” the state media said.
The revival aligns with Pakistan’s broader goals of reducing reliance on external aid and focusing on export-driven growth. With a macroeconomic crisis highlighting the importance of saving foreign exchange, local shipbuilding is seen as a strategic move to bolster national industries.