Fish-ing for investment and growth in sector

Punjab looks to establish fish export processing zone

LAHORE: Diverting attention to a sector that has been neglected for long, the Punjab government has announced setting up a fish-export processing zone in the southern part of the province.

The decision is aimed at helping the dwindling industry and encourage local investment in the sector, bringing the standard and scale of exports to a global level.



Punjab fisheries department Director General Muhammad Ayub said Pakistan’s strategic location, coupled with a coastline of 1050km and inland water resources, offers great opportunity for investments and starting lucrative high value fish and shrimp aquaculture.

“Such aquaculture zones can be an asset in terms of exports and can also take advantage of the GSP Plus status,” he added.

Ayub said that the processing zone will be built on public private partnership and once functional, would help to tap the European, Asian and North American markets. “However the international market of fish exports requires both legislation and infrastructure to be of the same standards as those applicable in European and other markets. There is a need for a coherent and concerted effort to develop and promote this sector,” Ayub said.

In Pakistan, per-capita fish consumption is around 2kg, whereas the average world availability is 19.9kg. The world’s fish supply has shown an annual growth of 2.1%, outpacing population growth that shows a promising future for the fisheries business, Ayub added.

The Punjab government, in budget 2015-16, has allocated Rs600 million compared to Rs324.06 million in the corresponding period for 14 development projects in the sector. According to Ayub, the interest of people to invest in fish farms is slowly picking up pace.

In fiscal year 2014-15, the total number of fish farms increased to 8,987, compared to 8,798 in the corresponding year. Total income generated in 2014-15 was recorded at Rs212.540 million compared to Rs188.677 million in 2013-14.

Pakistan produces 952,735 million tons of fish annually out of which the share of marine fisheries is 667,762 million tons (70%) and that from inland resources is 284,793 million (30%). At present, exports are around 124,000 million tons and earnings clock in around $315 million.

Published in The Express Tribune, October 9^th, 2015.

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