KARACHI: Economic and Financial Analyst Ateeq Ur Rehman has said that presently our fishing industry and sea food export is the biggest opportunity for foreign direct investment, local investment, business, profit and growth of exports of the country.

If the federal government and the provincial governments of Sindh and Balochistan take keen interest in the development and well being of this industry, it will not only improve the conditions of our fishermen and develop the longest coastline in the world but also tremendously increase our exports.

Pakistan's deep sea fishing industry is rich, having immense potential with an enormous prospect for seafood exports but it still remains one of the most neglected sectors of Pakistan.

If preferential treatment is given to this sector, it can alone surpass our export targets of 50 billion dollars and even more in a fiscal year, said Ateeq Ur Rehman.

The major problems faced by our fishing industry are huge cost of electricity for refrigeration, heavy duties on import of plant and machinery/processing unit, large number of duties and taxes on the import of raw material, and smuggling. Government has to seriously and sincerely sort out these grievous issues urgently for the betterment of this sector, said Ateeq.

He added that millions of people are working as a component of this industry and then millions are affiliated with this industry as fishermen families, vendors, diesel suppliers, packaging material suppliers and others.

Scheme for easy loan under Kamyab Jawan Program for the fishermen enabling them to purchase the latest equipment besides achieving self-reliance is a magnificent gesture.

Copyright Business Recorder, 2021