Pakistan targets $100bn through blue economy initiative

May 14, 2025 (MLN): The development of a comprehensive Blue Economy Policy aimed at unlocking the full potential of Pakistan’s maritime sector, with the capacity to generate over $100 billion annually, has been initiated by the Ministry of Maritime Affairs.

Chairing a high-level meeting, Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chudhry, directed the ministry to expedite the policy formulation process.

He stressed the importance of a timely and inclusive approach, highlighting the economic opportunities presented by the blue economy.

“All stakeholders, including relevant ministries, provincial governments, industry experts, and academic institutions will be consulted to ensure a collaborative, effective policy framework,” said the Minister.

“The blue economy is no longer a concept of the future, it is a priority for today.”

The blue economy refers to the sustainable use of ocean and marine resources to drive economic growth, enhance livelihoods, create employment opportunities, and maintain ecological balance while preserving marine ecosystems.

Federal Minister Junaid Anwar Chudhry pointed out that Pakistan’s current annual contribution to the blue economy stands at around $1bn, representing just 0.4% of the national GDP.

He noted the potential to increase this figure to over $100bn annually through optimized use of maritime resources, according to the press release issued today.

“This revenue is primarily derived from fisheries, coastal tourism, and maritime trade,” he said. “Seafood exports contribute approximately $450 million, while maritime tourism adds around $300m each year.”

The minister shared that estimates indicate potential revenues of $8–10bn from shipping, $7–8bn from fisheries, $10bn from aquaculture, and $5–6bn from maritime tourism.

He further noted additional revenue could be generated through renewable ocean energy, ship recycling, and the transformation of existing ports into sustainable “green ports.”

He emphasized that globally, the blue economy contributes about $1.5 trillion each year, spanning sectors like fisheries, shipping, tourism, offshore energy, and marine biotechnology.

In contrast, Pakistan's contribution remains significantly lower compared to regional counterparts.

Minister Junaid Anwar also drew attention to critical structural and operational issues in Pakistan’s maritime sector.

These include fragmented governance, outdated port and shipping technologies, marine pollution, insufficient research and innovation, and inadequate infrastructure.

“Our oceans are a national asset, and if managed wisely, they can serve as a key driver for economic growth, job creation, and environmental sustainability,” he stated.

“We are committed to ensuring that the Blue Economy Policy aligns with Pakistan’s Vision 2035 and the Sustainable Development Goals.”

Consultations with maritime experts have already begun, and a draft policy is expected soon.

The final policy will detail actionable steps, investment plans, and institutional reforms essential for harnessing Pakistan’s maritime potential.

The Ministry of Maritime Affairs has called on all stakeholders to actively engage in shaping this critical policy, which will serve as a foundation for a sustainable economic future and strengthen Pakistan’s ocean-based industries in a productive and responsible manner.

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