Businessmen asked to invest in maritime zone

Highlighting Pakistan's vast untapped maritime potential, Commander Logistics and Director General Naval Research & Development Institute (NRDI) Rear Admiral Muhammad Sohail Arshad has urged the business community to proactively seize opportunities across shipping, shipbuilding, offshore exploration, maritime technology, logistics and coastal infrastructure.

Exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the NRDI DG stated that the maritime sector represents one of the most promising frontiers for economic growth, investment and technological advancement in the country.

With an expansive coastline, an enlarged Exclusive Economic Zone, emerging shipbuilding capacity and policy-level support under active consideration, there is a need for public-private collaboration, indigenous innovation and private-sector leadership to unlock the full economic value of Pakistan's maritime domain, he added.

Arshad stated that Pakistan's coastal boundary is based on the continental shelf, which was successfully extended several years ago. Under the United Nations Convention on the Law of the Sea, 1982, Pakistan's maritime economic boundaries initially extended up to 200 nautical miles. However, any coastal state that demonstrates its capability to explore and exploit seabed resources beyond this limit is entitled to claim an extended continental shelf. Pakistan successfully demonstrated this capability, resulting in the extension of its Exclusive Economic Zone to 350 nautical miles from the coastline.

He informed businessmen that a comprehensive maritime policy has been finalised and is currently under discussion at the government level.