It might be a smelly business but it has an export potential of more than $1 billion annually. And thats at the least, according to Minfal estimates. Yet, even in times of much-needed export diversification, Pakistans foreign revenues through fisheries stand merely at 1/5th of the potential - ie just $200 million per annum growing at a slow pace of 2.3 percent per annum.
The contribution of fisheries to total agriculture exports hovers around 12 percent - significantly low when compared with neighbouring economies, including China, India, that are among the top 50 fishery exporters in the world. In this backdrop, the recently signed Memorandum of Understanding with China to promote co-operation in river fisheries and related technologies and to increase knowledge sharing between the two countries is a positive development.
Five key steps need to taken more specifically in this context. First, expedite reforms to ensure compliance with international standards regarding hygiene and environmental safety issues, as the country has lost about $100 million per annum since the EU banned sea-food imports from Pakistan in 2007.
Likewise, do away with inadequate fishing practices, such as exploitation of endangered species and farming during breeding seasons that not only hurt Pakistans image in international sea-food market but also have negative impacts on population of species.
Third, given that only 1 percent of water waste is treated by industries before being discharged directly into rivers and drains - thus harming fish population - the government must launch catch inspection and quality control programmes and imposed penalties on industries that are polluting water systems.
Fourth, support local fish farmers to use appropriate technologies and provide them with land for aquaculture, soft loans and expertise of trained scientists and researchers, aimed at improving the quality of processes and also the lives of the people involved in the business.
About one million people in Pakistan are employed in fishery industry and are very poor due to lack of land, seed, feed and technology - which coupled with unavailability of handling practices and lack of preservation facilities on fishing vessels, result in post harvest losses. Finally, explore new untapped fishing grounds and ways to increase value addition, such as including dried salted fish and canned products in order to boost exports.
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