Aurangzeb urges unlocking Pakistan’s $100bn blue economy potential

November 04, 2025 (MLN): Finance Minister Senator Muhammad Aurangzeb has termed Pakistan’s blue economy a “game changer” for the country’s future growth.

He highlighted its potential to reach $100 billion by 2047, reaffirming the government’s commitment to policy continuity, investment facilitation, and sustainable maritime development.

Delivering a virtual address as Chief Guest at the inaugural session of the Pakistan International Maritime Expo & Conference (PIMEC) held at the Expo Centre Karachi, Aurangzeb lauded the efforts of the Pakistan Navy, Ministry of Maritime Affairs, and National Institute of Maritime Affairs for organizing a world-class event focused on unlocking the country’s maritime potential.

He highlighted Pakistan’s improving macroeconomic indicators, noting that the exchange rate remains stable, foreign exchange reserves exceed $14 billion, and inflation stays in single digits despite temporary shocks.

He added that the policy rate has been lowered in line with easing inflation, while all three major global rating agencies have recently upgraded Pakistan’s outlook to “stable,” marking renewed international confidence in the economy.

Commenting on Pakistan’s engagement with the International Monetary Fund (IMF), the minister said the recently concluded staff-level agreement in Washington reinforced global confidence in the government’s reform agenda.

He stressed that Pakistan now stands well-positioned to attract trade and investment from partners including China, the United States, Saudi Arabia, and the UAE, transitioning from government-to-government deals toward private-sector-led growth.

Turning to the blue economy, Aurangzeb observed that the maritime sector currently contributes just 0.4–0.5% to GDP (around $1 billion) but holds vast potential for expansion.

He endorsed the Ministry of Maritime Affairs’ vision to grow this into a $100 billion sector by 2047, aligning with Pakistan’s centenary and broader ambition of becoming a $3 trillion economy.

The minister called for enhancing fisheries and aquaculture through value addition, modern cold-chain logistics, and improved hygiene standards.

He projected that seafood exports could rise from $500 million to $2 billion within the next few years under the National Fisheries and Aquaculture Policy, developed with the FAO’s support.

Aurangzeb also underscored the need to modernize and digitize port operations at Karachi, Port Qasim, and Gwadar, strengthen regional trade connectivity, and explore renewable energy projects such as tidal and offshore wind power.

He suggested adopting innovative financing tools like blue bonds and blended financing to fund sustainability initiatives.

Calling the blue economy a transformative frontier on par with emerging sectors like artificial intelligence, digital infrastructure, and mining, the minister said it holds immense potential for Pakistan’s future.

He added that integrating it into the national growth agenda would be crucial for strengthening the country’s long-term economic resilience and global competitiveness.

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