Finance Minister Muhammad Aurangzeb says Pakistan’s blue economy could become a major growth engine if supported by strong policies and investment. He spoke at PIMEC 2025 Karachi, calling it a key step toward unlocking the country’s maritime potential.
Finance Minister Muhammad Aurangzeb said the blue economy Pakistan could grow to $100 billion by 2047 if the country develops its ports, fisheries, and coastal trade. He was speaking virtually at the opening of the Pakistan International Maritime Expo and Conference (PIMEC 2025) held at the Expo Centre in Karachi.
He said the maritime sector now contributes only 0.4% to 0.5% of GDP (about $1 billion) but has room to grow through better planning and investment. The government aims to link this growth with Pakistan’s goal of becoming a $3 trillion economy by 2047.
Aurangzeb appreciated the Pakistan Navy, the Ministry of Maritime Affairs, and the National Institute of Maritime Affairs for organizing the event and promoting awareness about the economic value of the sea.
Maritime Growth and Economic Stability
The minister said Pakistan’s economy is showing signs of improvement. The exchange rate is stable, foreign exchange reserves have crossed $14 billion, and inflation is now in single digits. He said the interest rate was lowered as inflation went down, and global rating agencies now see Pakistan’s economy as stable.
Aurangzeb added that the recent IMF staff-level agreement in Washington has strengthened international trust in Pakistan’s reform program. The country is now ready to attract investment from China, the United States, Saudi Arabia, and the UAE, focusing on private sector growth instead of government deals, he added.
He said Pakistan needs to improve the fisheries and aquaculture sector by building better cold storage systems and maintaining hygienic handling standards. He added that seafood exports could rise from $500 million to $2 billion in the next few years under the National Fisheries and Aquaculture Policy.
Pakistan should modernize its ports in Karachi, Port Qasim, and Gwadar to handle trade more efficiently. He also suggested investing in offshore wind and tidal power projects. To fund them, he recommended using new financing tools like blue bonds.
