Maritime Sector Key to Pakistan’s Economy: Qaiser Ahmed Sheikh
Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh, while addressing the National Maritime Policy Workshop held in Islamabad today, said that the maritime sector in Pakistan is of key importance for economic development.
He stressed that promoting maritime trade is essential for sustainable economic development.
The Federal Minister said that there is a highly skilled team at Karachi Port Trust (KPT), Port Qasim and other ports
which is working to further strengthen the maritime economy. He expressed hope that the maritime sector will play an important role in Pakistan’s economic development in the future.
The Minister for Maritime Affairs said that the maritime sector had suffered a loss of billions of rupees last year, but this year a target of 100 billion rupees profit has been set,
which is highly expected to be achieved. He added that there is a plan to increase the export target of 32 billion rupees to 60 billion dollars in four years.
He pointed out that Pakistani ports are operating at 50 percent less than their capacity, although they have immense potential.
If the volume of imports and exports is $90 billion, it is expected to double in the next four years.
Qaiser Ahmed Sheikh said that trade opportunities in Central Asian countries are growing rapidly, but they do not have their own ports,
so they are depending on Pakistani ports. He said that Prime Minister Shehbaz Sharif is visiting Central Asian countries to explore more opportunities in this regard.
He added that now more space is being created for large ships at Pakistani ports,
and in the future, the capacity to handle ships carrying 20,000 containers instead of four containers should be created.
The Federal Minister said that a large number of international shipping companies and investors are interested in Pakistan.
He emphasized that many countries are getting 40 percent of their GDP from the maritime sector,
while 7 percent of the GDP worldwide is associated with the maritime industry. Pakistan can also get 5 percent of its GDP from this sector.
Qaiser Ahmed Sheikh said that Pakistan’s fisheries exports are $400 million, while our neighboring countries are far ahead of us in this sector.
He revealed that companies from all over the world are interested in investing in the fisheries sector in Pakistan.
He said that steps are being taken to further improve the Korangi Fish Harbor, and investment is also being made in the construction of new action halls.
The Federal Minister announced that the Government of Pakistan has decided that 60 percent of government imports and exports will be through Gwadar Port.
He emphasized that Gwadar Port will be equipped with world-class facilities to transform it into a modern and complete port.
Qaiser Ahmed Sheikh said that this workshop will play an important role in the development and business promotion of the maritime sector.
He mentioned the government’s efforts to promote this sector and said that the relevant committees and task forces are paying special attention to maritime policy.
At the end of his speech, he assured that Pakistan’s maritime industry will prove to be an important milestone in stabilizing the country’s economy in the future.
