IslamabadOn Friday, the federal government admitted that the Pakistani maritime sector incurred losses of a total of billions of rupees last year.
During the National Maritime Policy Workshop in Islamabad, the Federal Minister of Maritime Affairs, Al -Qaeda Ahmed Sheikh, stressed the decisive role of the sector in the economic growth of the nation, and stressed the importance of strengthening maritime trade for sustainable development.
The minister pointed out that high skills teams are working in KPT (KPT), Port Qassem, and other major ports, aimed at strengthening the maritime economy. Despite the losses of last year, she expressed confidence in the future of the sector, noting that the goal of profit is from Rusu. 100 billion for this year has been set.
Sheikh also participated in the country’s ambitious goals, with the aim of increasing between 32 billion dollars to 60 billion dollars during the next four years. He highlighted that Pakistan’s ports are currently working with only 50 % of their ability, indicating great growth capabilities. With the expected volume of import and export at $ 90 billion, the minister believes that it may double in the coming years.
The minister also discussed the increasing trade opportunities in Central Asia, as the two countries are increasingly dependent on Pakistan’s ports due to the lack of their own naval ports. He stated that Prime Minister Shaybaz Sharif explores new business prospects during his visit to Central Asian countries.
Sheikh also emphasized the need to expand the capabilities of ports, with the aim of absorbing ships carrying up to 20,000 containers, compared to the current capacity of only four.
Pakistan attracts increasing attention from global maritime companies and investors. The minister pointed out that although some countries generate up to 40 % of the gross domestic product of the marine sector, the average contribution of the world is 7 %. He believes that Pakistan can reach a 5 % contribution to GDP of marine industries.
In fisheries exports, Sheikh revealed that Pakistan is currently winning $ 400 million of seafood exports, but is behind its neighbors. However, he pointed out that international companies show a great interest in investing in the Pakistan Fisheries Sector, with efforts to upgrade the Kurranji Fish Port and build new auction halls to improve facilities.
In addition, the minister announced that 60 % of all official imports and exports will be directed through the port of Jawadar. He stressed the need to upgrade GWADAR through global level facilities, and put it as a deep outlet in the depths of modern and operational seas.
In conclusion, sheikh expressed confidence that the workshop will contribute to strengthening the maritime sector in Pakistan, while government work teams are actively developing maritime policy. He stressed that the marine industry will play a decisive role in strengthening the country’s economy to move forward.
