Proposed ferry service between Gwadar, Oman: Govt to earn estimated $10–15bn annually: Minister

ISLAMABAD: Pakistan stands to earn an estimated $10–15 billion annually through maritime operations linked to a proposed ferry service between Gwadar and Oman, Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said during a high-level meeting with the Ambassador of Oman to Pakistan, Fahad bin Sulaiman bin Khalaf Al Kharusi.

The two sides discussed fast-tracking the ferry service launch, sharing marine expertise, and boosting bilateral trade and connectivity in the maritime sector. The minister emphasised that the ferry project could unlock multi-billion-dollar opportunities through expanded trade, investment inflows, tourism, and regional transit revenue.

He noted that Pakistan’s current exports to Oman via ports stood at approximately $224 million in 2024 and stressed the importance of scaling up this figure through joint initiatives and infrastructure upgrades.

The minister also offered education and training opportunities for Omani students at the Pakistan Marine Academy, which is being upgraded to university status, to promote long-term cooperation in maritime education and capacity building.

Ambassador Al Kharusi welcomed the proposals and highlighted the deep-rooted cultural, diplomatic, and economic ties between the two nations.

He noted the strong presence of Urdu in Oman and lauded the role of the Pakistani diaspora in the Sultanate’s development. The ambassador also called for greater business-to-business engagements to boost trade and investment.

Minister Chaudhry said the growing partnership reflects a shared vision for regional prosperity, sustainable development, and stronger people-to-people linkages.

Copyright Business Recorder, 2025