Based on analysis, this study has identified that the existing policy and legal framework has several issues due to which active engagement of private sector couldn’t be achieved and always remained a big challenge for shipping sector of Pakistan. This study has examined the revised MMP 2001 document and the SBP’s LTFF for the Shipping Sector, by employing qualitative method. A question arises regarding the effectiveness of MMP and financing instruments. Moreover, the State Bank of Pakistan (SBP) has issued the rules for ship financing under Long Term Financing Facility (LTFF) in July 2020. In this context, Pakistan Merchant Marine Policy (MMP) 2001 was formed which was amended by the Federal Government in November 2019, extended till the year 2030 and launched in July 2020. There is an enormous growth potential for shipping industry in Pakistan which needs to be harnessed through enabling policies, processes and regulatory framework. In case of Pakistan, unfortunately, the number of national flag carrier is just 11 ships whereas, the contribution of private entrepreneurs is almost nil. In the contemporary globalized world, a strong national shipping sector and healthy state of national flag carriers is the reflection of a thriving economy.
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