Islamabad, Mar 2, 2025: The federal government acknowledged on Friday that Pakistan’s maritime industry experienced significant financial setbacks amounting to billions of rupees over the past year.
Speaking at the National Maritime Policy Workshop in Islamabad, Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh underscored the critical role of the maritime sector in driving economic expansion.
He highlighted the importance of advancing maritime trade as a key component of achieving long-term economic sustainability.
The minister noted that expert teams are diligently operating at Karachi Port Trust (KPT), Port Qasim, and other major ports to enhance the maritime economy.
Expressing optimism, he stated that the sector is poised to contribute substantially to Pakistan’s economic progress in the coming years.
Shaikh revealed that while last year’s maritime sector losses were significant, the government has set an ambitious profit target of Rs. 100 billion for the current year, with strong indicators of achieving it.
He also mentioned that Pakistan’s current export target of $32 billion is expected to reach $60 billion within four years.
Despite enormous potential, the minister pointed out that Pakistan’s ports are currently functioning at only 50% of their total capacity.
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He projected that with the present import-export volume at $90 billion, it has the potential to double in the next four years.
He also noted that Central Asian countries, which lack direct access to seaports, rely on Pakistan’s ports for their trade activities.
Prime Minister Shehbaz Sharif is actively engaging with Central Asian nations to explore further business opportunities.
The minister stressed the necessity of expanding port facilities, suggesting that rather than handling just four containers, Pakistan’s ports should be equipped to manage vessels carrying up to 20,000 containers.
He added that international maritime companies and investors are showing considerable interest in Pakistan’s ports and shipping industry.
Comparing global benchmarks, he stated that while some nations generate nearly 40% of their GDP from maritime activities, the global average stands at 7%.
He asserted that Pakistan has the potential to achieve a 5% GDP contribution from this sector.
Regarding fisheries, he highlighted that Pakistan currently earns $400 million from seafood exports, whereas regional competitors are far ahead.
Efforts are being made to upgrade the Korangi Fish Harbor, with investments focused on constructing new auction halls to enhance facilities.
Additionally, the minister announced that 60% of all government imports and exports will be directed through Gwadar Port.
He emphasized the need for world-class infrastructure at Gwadar to establish it as a fully functional deep-sea port.
Concluding his address, he reiterated that government task forces are actively developing maritime policies to strengthen the sector and drive economic growth.
