Blue economy: Projects aimed at unlocking potential initiated

ISLAMABAD: Pakistan has initiated USD 100 billion worth of development projects to unlock the country’s blue-economy potential, with the Special Investment Facilitation Council (SIFC) driving fast-track reforms and investment pipelines across the maritime sector.

According to the Ministry of Maritime Affairs, these projects form the backbone of the national “Maritime @100” programme, which aim at positioning Pakistan as a regional blue-economy hub by 2047.

The programme includes major expansions in shipping, fisheries, logistics, and coastal infrastructure to boost exports, strengthen foreign exchange reserves, and create large-scale employment opportunities along the coastline.

As part of the plan, 15 new vessels will be added to the Pakistan National Shipping Corporation (PNSC) fleet over the next three years, reducing reliance on foreign carriers and improving export competitiveness.

A landmark sustainability initiative—Pakistan’s first green ship-repair and recycling yard, “Sea to Steel”, will be established at Port Qasim, enabling the country to enter the global green-ship recycling market. Side by side, the Gadani Ship-Breaking Yard is set for a USD 43 million modernisation overhaul to enhance safety standards, environmental compliance, and operational performance.

The National Fisheries Policy 2025–2035 is being implemented to strengthen seafood exports through deep-sea regulatory reforms, modern fishing facilities, cold-chain improvements, and scientific resource management.

Officials noted that maritime sector modernisation will significantly enhance national shipping capacity, support economic stability, and attract new investment. They added that with SIFC’s effective support, Pakistan’s blue-economy transformation is progressing rapidly and is poised to become a major pillar of the country’s economic revival.

Copyright Business Recorder, 2025