Considering the prospects of the Port Services Corporation (PSC) are not commercially and financially encouraging, its board has submitted a proposal to authorities recommending either the total buyout of shares in private hands and turning the company into a wholly government-owned entity or its liquidation. Since the transfer of most commercial cargo vessel and cargo operations from Port Sultan Qaboos (PSQ) to Sohar Port, initiated in September 2014, there has been a significant reduction in the number of vessels and volume of cargo handled at PSQ, which is managed and operated by PSC. (Muscat Daily)