Federal Finance Minister Muhammad Aurangzeb has called the blue economy a “game changer” for Pakistan’s growth. He said the maritime sector could generate $100 billion by 2047 if developed strategically. Speaking virtually at the Pakistan International Maritime Expo and Conference in Karachi, he stressed the need for policy continuity. He noted that the maritime sector currently contributes only 0.5% to GDP but holds vast potential for expansion.
Aurangzeb highlighted the Ministry of Maritime Affairs’ goal to grow the blue economy alongside Pakistan’s aim to become a $3 trillion economy by 2047. He described the target as ambitious yet achievable with a strong roadmap. He emphasized modernizing fisheries and aquaculture through value-added products and improved logistics. The minister said seafood exports, now worth $500 million, could reach $2 billion in four years. He credited the National Fisheries and Aquaculture Policy, developed with the FAO, for guiding this progress.
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Moreover, Aurangzeb urged modernization and digital transformation of major ports, including Karachi, Port Qasim, and Gwadar. He said efficient port operations could boost trade connectivity and regional integration. He also mentioned opportunities in renewable energy, such as offshore wind and tidal power projects. Additionally, he encouraged exploring innovative financing tools like blue bonds and blended finance to fund sustainable initiatives.
The minister also shared updates on Pakistan’s economic stability and reform progress. He said foreign reserves now cover over two and a half months of imports. Inflation remains in single digits despite challenges from recent floods. He added that lower interest rates and improved credit ratings from all three global agencies reflect renewed investor confidence. According to him, the IMF agreement in Washington further strengthened Pakistan’s credibility and reform momentum.
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Aurangzeb urged stronger partnerships with China, the United States, and Gulf countries to boost trade and investment. He said Pakistan should move from government deals to private-led investments for faster growth. Concluding his remarks, he reaffirmed the government’s dedication to consistency and reform. He expressed optimism that the blue economy, if developed wisely, could transform Pakistan’s economic future and create lasting prosperity.