Karachi: Finance Minister Muhammad Aurangzeb has expressed confidence that the blue economy will become a transformative force for Pakistan. Addressing participants via Zoom at the Pakistan International Maritime Expo and Conference (PIMEC), organized at the Expo Centre Karachi, he emphasized the potential of the blue economy to drive the nation’s economic growth.

According to Radio Pakistan, the Finance Minister highlighted that Pakistan’s seafood exports have reached approximately five hundred million dollars, and there is a tangible goal to elevate this figure to two billion dollars within the next three to four years. He underscored the Ministry of Maritime Affairs’ target of expanding the blue economy to one hundred billion dollars by 2047, describing this objective as ambitious yet attainable.

Aurangzeb detailed that this vision is supported by a comprehensive roadmap emphasizing excellence in fisheries and aquaculture. Key strategies include enhancing value-added processing capabilities, modernizing cold chain logistics, and implementing world-class hygiene standards to ensure top-notch quality.

The Finance Minister also pointed to the significant strides Pakistan has made in achieving macroeconomic stability. He noted that the exchange rate remains stable, with foreign exchange reserves sufficient to cover about two and a half months of imports. Additionally, he mentioned that the inflation rate has been reduced to a single digit.

Aurangzeb concluded by stating that besides structural reforms, expected improvements in trade and investment flows in the coming months will aid Pakistan in progressing towards a sustainable growth trajectory.