Blue economy to become game changer for Pakistan, says Finance Minister Aurangzeb

Islamabad (Web Desk): Finance Minister Muhammad Aurangzeb has expressed strong optimism that Pakistan’s blue economy holds the potential to transform the country’s economic future.

Speaking virtually at the Pakistan International Maritime Expo and Conference (PIMEC) hosted at the Expo Centre in Karachi, he emphasized that the maritime sector can serve as a powerful engine to boost the overall economy.

The finance minister shared that Pakistan’s seafood exports currently amount to nearly 500 million dollars, adding that raising this figure to 2 billion dollars over the next three to four years is a realistic and attainable goal.

He noted that the Ministry of Maritime Affairs has set an ambitious target of expanding the blue economy to 100 billion dollars by 2047, a vision he believes is achievable through consistent effort and sound planning.

Aurangzeb elaborated that this vision is supported by a clear and comprehensive strategy, focusing on excellence in fisheries and aquaculture.

He said the government aims to enhance value-added seafood processing, upgrade cold chain systems, and apply international hygiene standards to ensure premium quality and competitiveness in global markets.

Highlighting Pakistan’s improving economic outlook, the minister said that the exchange rate remains steady and the country’s foreign exchange reserves are sufficient to cover about two and a half months of imports.

He further stated that inflation has dropped to single digits, marking a positive sign of stability.

The finance minister concluded that ongoing structural reforms, along with improved trade and investment flows anticipated in the near future, will play a vital role in guiding Pakistan toward a path of sustained economic growth.