ISLAMABAD ( WNAM REPORT ): Federal Minister for Maritime Affairs, Qaiser Ahmed Shaikh, addressed the National Maritime Policy Workshop, emphasizing that Pakistan’s maritime sector plays a crucial role in the country’s economic growth. He stressed that promoting maritime trade is essential for achieving sustainable economic development.
The minister stated that highly skilled teams are operating at Karachi Port Trust (KPT), Port Qasim, and other ports, working towards strengthening the maritime economy. He expressed confidence that the maritime sector will play a significant role in Pakistan’s economic progress in the future.
Shaikh highlighted that while the maritime sector suffered losses amounting to billions of rupees last year, a profit target of Rs. 100 billion has been set for this year, with strong prospects for success. He further mentioned that the country’s export target of Rs. 32 billion is set to increase to $60 billion over the next four years.
He pointed out that Pakistan’s ports are currently operating at only 50% of their capacity, despite their immense potential. He projected that if the current import-export volume stands at $90 billion, it could double within the next four years.
The minister also highlighted that Central Asian countries are rapidly expanding their trade opportunities, but since they lack their own seaports, they depend on Pakistan’s ports. He noted that Prime Minister Shehbaz Sharif is currently visiting Central Asian nations to explore further business prospects.
He emphasized the need for expanding port capacities in Pakistan, stating that instead of handling four containers, ports should be capable of accommodating ships carrying up to 20,000 containers.
The minister further said that Pakistan is attracting significant interest from global maritime companies and investors. He pointed out that while some nations generate 40% of their GDP from the maritime sector, the global average contribution of the maritime industry to GDP is 7%. Pakistan, too, can achieve a 5% GDP contribution from this sector.
Regarding fisheries exports, he noted that Pakistan currently earns $400 million from seafood exports, whereas neighboring countries are far ahead in this industry. He revealed that global companies are showing keen interest in investing in Pakistan’s fisheries sector. He added that efforts are underway to upgrade the Korangi Fish Harbor, and investment is being made in constructing new auction halls to improve facilities.
The minister also announced that the government has decided that 60% of all official imports and exports will be routed through Gwadar Port. He emphasized that Gwadar Port must be upgraded with world-class facilities to establish it as a modern and fully operational deep-sea port.
The minister concluded by stating that this workshop would play a vital role in advancing the maritime sector and fostering business growth. He reiterated that government committees and task forces are actively working on maritime policy development.
In closing, he assured that Pakistan’s maritime industry will prove to be a key milestone in strengthening the country’s economy in the future.
