Karachi: Pakistan National Shipping Corporation (PNSC) has confirmed the automatic appointment of two directors following the notice of election under Section 159(4) of the Companies Act, 2017. The announcement, dated October 17, 2025, specifies that no formal election process will occur at the upcoming 47th Annual General Meeting (AGM) scheduled for October 28, 2025.

According to the official notice, Mr. Ahsan Ali Malik and Capt (R) Sarfaraz Inayatullah Qureshi have filed their intention to serve as directors of PNSC for the upcoming three-year term. The meeting, set to take place at the PNSC Head Office on M.T. Khan Road in Karachi, will not involve an election process for these positions.

The notice elucidates that the number of candidates does not exceed the number of director positions established by the Federal Government under Section 14(1)(e) of the PNSC Ordinance, 1979. Consequently, under the provisions of Section 159(5) of the Companies Act, 2017, the need for a formal election is obviated. Both candidates are thus deemed elected, contingent upon the completion of requisite formalities.

According to information available from the Pakistan Stock Exchange (PSX), the Corporation is taking appropriate steps to ensure compliance with statutory requirements. The PSX has been duly notified to inform all relevant stakeholders of these developments.

The election notice, to be published in newspapers, highlights the adherence to legislative frameworks governing corporate governance in Pakistan. The appointments mark a continuity in leadership for PNSC, as it continues to operate under the regulations set forth by the Companies Act and related ordinances.