Finance Minister Muhammad Aurangzeb has described the blue economy as a “game changer” for Pakistan’s future growth, setting an ambitious target of unlocking $100 billion in maritime economic potential by 2047.
Addressing the Pakistan International Maritime Expo and Conference (PIMEC) virtually on Monday, the minister reaffirmed the government’s commitment to policy continuity, investment facilitation, and sustainable maritime development as central pillars of the country’s long-term economic strategy.
Aurangzeb praised the Pakistan Navy and the Ministry of Maritime Affairs for spearheading the conference, calling it a critical step toward realising Pakistan’s maritime potential.
He said Pakistan’s macroeconomic fundamentals have strengthened considerably, with foreign exchange reserves exceeding $14 billion, inflation easing into single digits, and credit rating agencies upgrading the country’s outlook to “stable” for the first time in three years.
He added that the recent staff-level agreement with the IMF has further bolstered international confidence in Pakistan’s reform agenda, while the government is now focused on deepening trade and investment ties with strategic partners including China, the US, Saudi Arabia, and the UAE.
Aurangzeb noted that the maritime sector currently contributes only 0.5 percent to GDP, or about USD 1 billion, but holds vast untapped potential.
He endorsed the Ministry of Maritime Affairs’ vision to develop a USD 100 billion blue economy by 2047, aligning with Pakistan’s goal of becoming a USD 3 trillion economy by its centenary year.
He stressed that this transformation will require targeted investments in fisheries, aquaculture, logistics, and coastal infrastructure. The minister highlighted that seafood exports, currently at USD 500 million, could grow to USD 2 billion within four years under the National Fisheries and Aquaculture Policy, developed in collaboration with the Food and Agriculture Organization.
He said that port modernisation and digitisation at Karachi, Port Qasim, and Gwadar remain top priorities to strengthen regional trade connectivity.
He further pointed to the potential of renewable energy initiatives such as offshore wind and tidal power, as well as innovative financing tools like blue bonds and blended finance, to fund sustainable marine projects. Marine biotechnology, he added, offers a promising new frontier for research and investment.
Aurangzeb concluded that the blue economy represents a transformative growth sector, comparable to emerging domains such as artificial intelligence and digital infrastructure.
