Karachi: Federal Minister for Finance and Revenue Muhammad Aurangzeb has described Pakistan’s blue economy as a “game changer” for the country’s long-term growth, projecting its potential to reach USD 100 billion by 2047.
Delivering a virtual address on Tuesday at the inaugural session of the Pakistan International Maritime Expo & Conference (PIMEC) 2025 — jointly organised by the Pakistan Navy and the Ministry of Maritime Affairs at the Expo Centre Karachi — Aurangzeb reaffirmed the government’s commitment to ensuring policy continuity to realise this goal.
The finance minister noted that Pakistan’s maritime sector currently contributes only 0.4% to 0.5% of the national GDP, amounting to around USD 1 billion, but possesses vast untapped potential. He endorsed the Ministry of Maritime Affairs’ roadmap to expand this to USD 100 billion by 2047 — the year marking Pakistan’s 100th anniversary — aligning it with the broader national objective of transforming the economy into a USD 3 trillion one.
“This is an ambitious but very achievable target,” Aurangzeb said, adding that the government aims to support the maritime sector through structural reforms, investment incentives, and infrastructure development.
Citing the World Bank’s definition of the blue economy — the sustainable use of ocean resources for economic growth, improved livelihoods, and preservation of marine ecosystems — the finance minister highlighted the sector’s wide-ranging opportunities, including shipping, fisheries, coastal tourism, renewable energy, and port development.
He emphasised that strengthening fisheries and aquaculture through value-added processing, cold-chain logistics, and adherence to international hygiene standards could significantly boost exports. “Pakistan’s seafood exports currently stand at around USD 500 million but could feasibly increase to USD 2 billion within the next three to four years under the National Fisheries and Aquaculture Policy,” he said.
The minister credited the Ministry of Maritime Affairs and the Food and Agriculture Organization (FAO) for developing this policy in alignment with global best practices.
Aurangzeb reiterated that the government remains committed to policy stability and continuity to ensure that such long-term initiatives reach full implementation. “Consistency and commitment are key to transforming potential into prosperity,” he added.
The Pakistan International Maritime Expo & Conference aims to promote maritime awareness, attract investment, and foster collaboration across public and private sectors to unlock the country’s blue economy potential.
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