The Ministry of Maritime Affairs has initiated the development of a comprehensive blue economy policy aimed at unlocking the full potential of Pakistan's maritime sector, which holds the promise of generating over $100 billion annually.
In line with this initiative, Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, while chairing a high-level meeting, directed the ministry to accelerate work on the policy framework. He emphasised the importance of timely and inclusive policy formulation and highlighted the economic opportunities the blue economy provided to Pakistan.
"All stakeholders, including relevant ministries, provincial governments, industry experts and academic institutions, will be consulted to ensure a collaborative and effective policy framework," said the federal minister. "The blue economy is no longer a concept for the future; it is a priority for today."
The blue economy reflects the sustainable use of ocean and marine resources to promote economic growth, improve livelihoods, create jobs and maintain environmental sustainability while preserving the health of ocean ecosystems.
The federal minister noted that Pakistan's contribution was around $1 billion annually, which accounted for just 0.4% of the national GDP, with the potential to generate over $100 billion annually.
"This revenue is primarily derived from fisheries, coastal tourism and maritime trade. Notably, seafood exports contribute roughly $450 million while maritime tourism generates about $300 million each year," he said. He pointed out that estimates suggested potential revenues of $8-10 billion from shipping, $7-8 billion from fisheries, $10 billion from aquaculture and $5-6 billion from maritime tourism.
Additional income could be realised through renewable ocean energy projects, ship recycling and transforming traditional ports.
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