Muhammadi Steamship Company Limited was one of the oldest locally owned

shipping companies The following articles list companies that operate ships: * List of freight ship companies for companies that own and operate the freight ships (Bulk Carriers, Container Ships, Roll-on/Roll-off (for Freights), Tankers and Gas Carriers). ** List o ...

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's fifth-most populous country, with a population of almost 243 million people, and has the world's second-lar ...

until it was nationalised in the early 1970s.

History

The company was incorporated on 12 May 1947 . In 1949, it became the first Pakistani shipping line to be publicly listed on the

Karachi Stock Exchange The Karachi Stock Exchange ( ur, or PSX-KSE) was a stock exchange located in Karachi, Pakistan. Since 1947, it has been located at the Stock Exchange Building on I. I. Chundrigar Road. It has now been consolidated in the Pakistan Stock Exchang ...

.Malik, Iftikhar Ahmed, ''History of Pakistan Merchant Navy 1947- 2009'' Karachi 2010 (privately published) pg 6 Muhammadi House on McLeod Road (now

I. I. Chundrigar Road I. I. Chundrigar Road ( ur, ), previously known as McLeod Road, is a road located in central business district of Karachi, Pakistan, and is named after former Pakistani Prime Minister Ibrahim Ismail Chundrigar. The road serves as the spine of ...

) was the

headquarter Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...

s of the company. Muhammad Ali Habib and Kasim Dada were major share holders of the company till 1959–1960. However, after their departure from the scene, company went into deep financial crisis. Fakhruddin Valika of the Valika family later on acquired the major stake in the company. Under the Valika family's leadership, the company built Al-Abbas, which was the first major ship to be built in Karachi Shipyard. The company was nationalized by the

Government of Pakistan The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the four provinces, two autonomous territorie ...

under then President

Zulfikar Ali Bhutto Zulfikar (or Zulfiqar) Ali Bhutto ( ur, , sd, ذوالفقار علي ڀٽو; 5 January 1928 – 4 April 1979), also known as Quaid-e-Awam ("the People's Leader"), was a Pakistani barrister, politician and statesman who served as the fourt ...

. It was later merged with other Pakistani nationalized shipping companies to create the

Pakistan National Shipping Corporation The Pakistan National Shipping Corporation (PNSC) is a Pakistani national flag carrier and is one of Government of Pakistan's most profitable state-owned entities, most recently having recorded its highest ever profit of PKR 5.6 billion under the ...

Ships

References

*{{cite web , title= Items in India/Pakistan/Bangladesh - Report of the high level consultants mission to Bangladesh , url= http://archives-trim.un.org/webdrawer/rec/423368/view/Items-in-IndiaPakistanBangladesh%20-%20general%20-%20report%20of%20the%20high%20level%20consultants%20mission%20to%20Bangladesh%20MarchApril%201972.pdf , publisher= United Nations , access-date= 26 July 2011 , url-status= dead , archive-url= https://web.archive.org/web/20110728142411/http://archives-trim.un.org/webdrawer/rec/423368/view/Items-in-IndiaPakistanBangladesh%20-%20general%20-%20report%20of%20the%20high%20level%20consultants%20mission%20to%20Bangladesh%20MarchApril%201972.PDF , archive-date= 28 July 2011 Defunct shipping companies of Pakistan Companies based in Karachi Transport companies established in 1947 History of Karachi 1947 establishments in Pakistan 1970s disestablishments in Pakistan

History

Ships

See also

References