PM declares ‘blue economy’ as Pakistan’s new economic frontier

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday identified the blue economy as Pakistan’s “new economic frontier,” calling for a collective national effort to harness its untapped potential.

Speaking at the soft launch of the 2nd Pakistan International Maritime Expo and Conference (PIMEC 2025), the premier outlined a vision to transform the country into a regional maritime hub.

He commended the Pakistan Navy, the Ministry of Maritime Affairs, and their partners for organising the event, and praised Naval Chief Admiral Naveed Ashraf and Federal Minister Junaid Anwar Chaudhry for their strategic direction.

Highlighting the Navy’s pivotal role in ensuring national security and regional stability, the prime minister emphasised the importance of maritime cooperation. He referenced the AMAN Exercise, which has brought together over 50 nations, as an example of Pakistan’s commitment to peace and international maritime collaboration.

Also read: Pakistan’s blue economy could generate over $100 billion in revenue: British Deputy High Commissioner

With over 1,000 kilometers of coastline and a strategic location on key global trade routes, the prime minister said Pakistan is ideally positioned to benefit from the trillion-dollar global blue economy. He noted that Pakistan’s coastal trade already generates around $7 billion annually and stressed the transformative potential of scaling up the sector.

Drawing inspiration from Japan’s rise as a maritime leader, he advocated for open competition, strategic investment, and innovation to fuel growth. “Now is the time for Pakistan to lead,” he stated, urging synergy between the public and private sectors to ensure inclusive and sustainable development.

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry presented the government’s long-term plan, the “Maritime at 100” Vision, aiming to develop the sector into a $100 billion industry by 2047, Pakistan’s 100th year of independence.

He described PIMEC 2025 as more than just an expo, but a platform for innovation, regional cooperation, and investment. The minister cited the potential of key drivers such as the Rs88 billion fisheries industry, the Gaddani Ship Recycling Yard’s recovery potential exceeding Rs30 billion, and Pakistan’s location at the heart of international shipping lanes.

To support this vision, he announced three major policy initiatives nearing finalization: the National Maritime Policy, the National Shipping Policy, and the National Fisheries and Aquaculture Policy. These frameworks aim to ensure growth aligned with sustainability and modern global standards.

The minister also announced several upcoming projects and reforms: the establishment of a Maritime Chamber of Commerce and Industry, a centralized grievance redressal cell for maritime affairs, Rs12 billion in federal investment to revive the Gaddani yard, addition of four new ships to the national fleet, a dredging initiative at Port Qasim, and development of a multimodal logistics corridor connecting Gwadar with inland trade routes.

Pakistan is also actively campaigning for a seat on the International Maritime Organization’s Council (Category C) in the upcoming elections slated for December 2025, as part of its broader effort to enhance its global maritime profile.

Zohair Naseer, CEO of Badar Expo Solutions and co-organizer of the event, highlighted the scale and importance of PIMEC 2025. Scheduled from November 3 to 6 at the Karachi Expo Centre, the event will host a major maritime conference, B2B networking opportunities, and international trade delegations.

Commodore Ahsan Ali Khan, Assistant Chief of the Naval Staff, echoed the importance of the blue economy, noting that oceans are a vital source of marine life, natural resources, and serve as cost-effective trade routes. He emphasized the growing global focus on ocean-based sectors such as renewable energy, aquaculture, tourism, and deep-sea mining, urging Pakistan to seize its geographic and strategic advantages.

He added that with initiatives like CPEC and modern port infrastructure, Pakistan has already laid the foundation for a robust blue economy, and PIMEC 2025 will further consolidate this momentum.