ISLAMABAD: Finance Minister Muhammad Aurangzeb has described Pakistan’s blue economy as a “game-changing sector” capable of transforming the country’s economic landscape, noting that it currently contributes only 0.4% to 0.5% of GDP, or roughly one billion dollars.
Speaking at a virtual maritime conference, Aurangzeb said the government aims to expand the blue economy’s value to $100 billion by 2047, terming the target ambitious yet achievable.
“This billion dollars getting to a 100 billion blue economy number by the time we get to 2047 is transformational — and it’s the right ambition we’ve set for ourselves,” the minister remarked, highlighting the sector’s vast untapped potential.
Economic Transformation Through Maritime Development
Aurangzeb stressed that strong international partnerships and trade relations will play a key role in Pakistan’s economic revival.
“Relationships that have existed for decades are now shifting from government-to-government interactions to trade and investment flows into the country,” he noted. “This, Inshallah, should help us move toward a sustainable growth path.”
Strategic Roadmap to $100 Billion
Outlining the roadmap for the sector’s expansion, the minister said fisheries and aquaculture would serve as the cornerstone of growth.
He emphasised value-added seafood processing, modernising cold-chain logistics, and ensuring global hygiene standards to boost export competitiveness.
Seafood exports, currently valued at around $500 million, could rise to $2 billion within the next three to four years, he projected. The plan, he said, is being guided by a National Fisheries and Aquaculture Policy in collaboration with the Food and Agriculture Organization (FAO) to ensure long-term policy continuity.
Ports, Logistics, and Renewable Energy Integration
Aurangzeb underscored the need to modernise Pakistan’s ports and logistics networks — including Karachi Port, Port Qasim, and Gwadar — through digitalisation and operational upgrades based on international best practices.
These efforts aim to strengthen regional trade linkages and improve overall logistics efficiency.
He further highlighted the inclusion of renewable energy and marine biotechnology as integral parts of the blue economy.
“We are launching pilot projects in tidal and offshore wind generation, and developing marine biotechnology value chains, which hold immense potential for innovation and growth,” the minister added.
Financing Sustainability and Growth
Aurangzeb said the government would leverage innovative financing mechanisms, including blue bonds and blended funding models, to support these initiatives sustainably.
He asserted that combined with improved trade and investment inflows, structural reforms, and a stable policy framework, Pakistan could firmly position itself on a sustainable growth trajectory.
Looking Ahead
Concluding his remarks, the finance minister said that the blue economy, along with emerging sectors such as digital infrastructure, artificial intelligence, and mining, represents a critical growth engine for Pakistan’s long-term prosperity.
“With clear targets and consistent policies, this sector will play a central role in propelling our economy forward,” he said.
