PM Shehbaz calls blue economy Pakistan's 'new economic frontier'

• PM lauds role of Navy in national defence, regional security.
• Reaffirms Pakistan's commitment to int'l peace, maritime law.
• "Even tapping fraction of this economy could be real game-changer."

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday stated that the blue economy is Pakistan's "new economic frontier," calling for a unified national effort to unlock its vast potential.

Speaking at the soft launch of the 2nd Pakistan International Maritime Expo and Conference (PIMEC 2025), the prime minister laid out the vision for transforming Pakistan into a regional maritime powerhouse.

"It is a great pleasure to see the Pakistan Navy, under the patronage of the Ministry of Maritime Affairs and in collaboration with key partners, organising the second edition of PIMEC,” said the prime minister.

He lauded the leadership of Naval Chief Admiral Naveed Ashraf and Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry for their strategic foresight and dedication in steering this important initiative.

Highlighting the critical role of the Navy in national defence and regional security, he said, “The Pakistan Navy has been a formidable force through all conflicts and remains a strong pillar of our national security.”

Reaffirming Pakistan’s commitment to international peace and maritime law, he cited the AMAN Exercise, featuring participation from over 50 countries, as a symbol of Pakistan’s global engagement and cooperative maritime posture.

With over 1,000 kilometres of coastline and a position at the crossroads of vital sea lanes, Pakistan, the premier said, was uniquely positioned to harness the trillion-dollar global blue economy. 

“Even tapping a fraction of this economy could be a real game-changer,” he asserted.

“Our coastal trade already brings in nearly $7 billion a year and just imagine the potential if we fully develop this sector,” he added.

He urged the nation to take inspiration from global success stories such as Japan, which rose from limited maritime resources to become a global leader in marine infrastructure and regional trade. “Let there be open competition,” he added, emphasising the importance of resilience, innovation, and strategic investment.

PM Shehbaz stressed the need to transform Pakistan’s maritime sector into a driver of inclusive, sustainable economic growth while calling for synergy among the public and private sectors. “The time has come to take the lead,” he said.

Maritime Affairs Minister Muhammad Junaid outlined the government’s strategic roadmap for the maritime sector. He reaffirmed Pakistan’s commitment to building a vibrant blue economy and introduced the “Maritime at 100” Vision, a long-term plan to grow the sector into a $100 billion economic force by 2047, marking Pakistan’s centennial.

“PIMEC 2025 will be more than an exhibition; it will be a catalyst for investment, innovation, and regional cooperation,” the Minister told a gathering of policymakers, maritime professionals, and international stakeholders.

The minister, while underscoring the immense potential of the sector, highlighted key economic drivers such as a Rs88 billion fisheries industry, the Gaddani Ship Recycling Yard, with recovery potential exceeding Rs30 billion, and a strategic location linking global trade routes.

“The oceans are not just water bodies; they are economic lifelines. Pakistan must position itself as a regional maritime hub,” he said.

To guide the sector’s future, the Minister announced that three major policy frameworks National Maritime Policy, the National Shipping Policy, and the National Fisheries and Aquaculture Policy, which were nearing completion and would ensure growth aligned with sustainability and innovation.

He also announced the creation of a Maritime Chamber of Commerce and Industry, a centralised Maritime Complaint Cell for transparency and efficiency, federal investment of Rs12 billion in the revival of the Gaddani Ship Recycling Yard, acquisition of four new ships for the Pakistan National Shipping Corporation, raising the national fleet to 14 vessels, progress on a major dredging project at Port Qasim, and development of a multi-modal logistics corridor from Gwadar to bolster trade and connectivity.