Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday expressed optimism that the blue economy will emerge as a game-changer for Pakistan’s long-term economic growth and sustainability.
Addressing the Pakistan International Maritime Expo & Conference (PIMEC) virtually at the Expo Centre Karachi, the finance minister said that the blue economy — encompassing fisheries, marine transport, ports, and coastal tourism — holds immense untapped potential to drive national prosperity.
Aurangzeb emphasized that the blue economy can propel overall economic growth by expanding exports, creating jobs, and attracting foreign investment in maritime industries.
Seafood Exports and Growth Targets
Highlighting the progress in Pakistan’s marine sector, Aurangzeb shared that seafood exports currently stand at around $500 million, but the government aims to increase the figure to $2 billion within the next three to four years.
He added that the Ministry of Maritime Affairs has set an ambitious yet achievable goal of growing the blue economy to $100 billion by 2047, aligning with Pakistan’s Vision 2047 roadmap.
“This vision is supported by a robust plan focused on excellence in fisheries, aquaculture, logistics, and processing infrastructure,” the minister said.
He further explained that upcoming initiatives include modernizing cold-chain logistics, promoting value-added seafood exports, and ensuring world-class hygiene and quality standards to meet global market requirements.
Economic Stability and Reform Progress
Senator Aurangzeb also underlined Pakistan’s recent strides toward macroeconomic stability, noting that the exchange rate has stabilized, while foreign exchange reserves are sufficient to cover approximately two and a half months of imports.
He added that inflation has fallen to single digits, reflecting the government’s commitment to sound fiscal management.
“With structural reforms underway and improved trade and investment flows expected in the coming months, Pakistan is moving towards a sustainable growth path,” he said.
Path Forward
The finance minister concluded his remarks by thanking the PIMEC organizers and participants for their contribution toward promoting maritime innovation and economic development.
He expressed confidence that the conference’s discussions would generate actionable insights to advance Pakistan’s blue economy strategy, helping the nation unlock new frontiers in marine trade, coastal resources, and sustainable development.