ISLAMABAD, Dec 24: The Planning Commission constituted a task force on maritime industry on Wednesday to propose amendments to the Merchant Shipping Ordinance 2001 that would help reduce freight bill by average $4 billion annually.

The task force would propose amendments to make the industry profitable within 90 days, and these amendments would be placed before the parliament for consideration.

The task force would be headed by Naeem Sarfraz, while the members include Justice (Retd) Shaiq Usmani, Dr Zia Rizvi, Mohammed A Rajpar, Capt. Changez Khan Niazi, Rear Admiral Arshad Munir, Secretary, Ministry of Ports and Shipping, Member (ex officio) and Chief (Transport and Communications) and Planning Commission (ex-officio).

The terms of reference of the task force are to propose appropriate amendments to Merchant Shipping Ordinance 2001 and any other relevant legislation to make it suitable for the 21st century maritime industry.

The tax force will plan and assist in implementing the following: procure ships in the private sector which will substantially reduce foreign exchange freight bill by approximately $4 billion annually; deepen navigable channels in all ports to 16.5 metres or more to handle modern vessels.

It also include to build capacity of all sectors supporting ship activities in ports, including navigational aids, tugs, dredgers, shore cranes, bunkers, water, power, manpower, customs, immigration, security, environment issues etc.

Develop private terminals, ship building, ship repair, container manufacture and repair, survey facilities, etc in all three ports; create an enabling environment in Gwadar for handling trans-shipment and transit cargos to realise the full potential of this national asset; expand the capacity of Karachi and Port Qasim in keeping with national economic goals of the 21st century.

It would also help develop three pilot projects of inland waterways in cooperation with provincial governments; encourage direct investment, private-public partnership and commercial financing instead of enhancing foreign loans; propose a federal maritime commission for sustained development of the sector etc.