KARACHI: Federal Finance Minister Mohammad Aurangzeb emphasized that the blue economy would act as a game changer for Pakistan’s economy.
Speaking virtually at the Pakistan International Maritime Expo and Conference 2025, Aurangzeb expressed confidence that Pakistan’s economy is on the right track, citing the government’s efforts to implement essential reforms that would drive sustainable economic development.
“The blue economy has the potential to bring about an economic revolution,” he said, underscoring the importance of these reforms in ensuring long-term economic stability.
Aurangzeb highlighted the solid steps taken over the past two and a half years, including significant reductions in inflation and policy rates. Furthermore, three global rating agencies have praised Pakistan’s economic reforms and policies, signaling positive international recognition.
The finance minister also pointed out the collaborative efforts with friendly nations to stabilise trade and enhance the economy.
He highlighted ongoing projects to modernize major ports, including Karachi, Gwadar, and Port Qasim, which will support the development of the nation’s maritime sector.
He reiterated that there is strong coordination among various ministries to push forward Pakistan’s economic agenda, and the Ministry of Finance will continue to play a key role in ensuring stability and growth.
He commended the Pakistan Navy, the Ministry of Maritime Affairs, and the National Institute of Maritime Affairs for hosting a world-class conference on the blue economy, describing it as a sector that holds immense potential to become a game changer for Pakistan’s economic future.
Referring to Pakistan’s engagement with the International Monetary Fund, the minister said that the recently concluded staff-level agreement in Washington further strengthens global confidence in the government’s reform agenda and macroeconomic management.
He remarked that Pakistan is currently in a favourable position to leverage its longstanding relationships with key partners, including China, the United States, and the Gulf countries particularly Saudi Arabia and the UAE to shift from government-to-government arrangements toward greater trade and investment flows, thereby supporting sustainable economic growth.
Turning to the blue economy, Senator Aurangzeb observed that the maritime sector currently contributes only around 0.4 to 0.5 percent to the national GDP – approximately USD 1 billion – but holds vast potential for expansion.
He endorsed the Ministry of Maritime Affairs’ vision of developing this into a USD 100 billion blue economy by 2047, coinciding with Pakistan’s 100th anniversary and the broader national ambition of becoming a USD 3 trillion economy. He described this goal as both ambitious and achievable, supported by a clear and robust roadmap.
The Minister underlined the importance of enhancing fisheries and aquaculture through value-added processing, modern cold-chain logistics and international-standard hygiene practices.
He expressed confidence that Pakistan’s seafood exports, currently around USD 500 million, could feasibly increase to USD 2 billion within the next three to four years under the National Fisheries and Aquaculture Policy, which has been developed in strategic partnership with the Food and Agriculture Organization (FAO).
He assured that the government remains firmly committed to ensuring policy consistency and continuity to see such initiatives through their full cycle.
