Federal Minister for Finance and Revenue Muhammad Aurangzeb has described the Blue Economy as a “game changer” for Pakistan’s economic future. He projected that the maritime sector could grow to $100 billion by 2047 with the right policies and investment.
Speaking virtually at the Pakistan International Maritime Expo & Conference (PIMEC) held at the Expo Centre Karachi, Aurangzeb reaffirmed the government’s commitment to promoting sustainable maritime growth. He said the Blue Economy has vast potential and could become a key driver of Pakistan’s long-term prosperity.
The minister praised the Pakistan Navy, the Ministry of Maritime Affairs, and the National Institute of Maritime Affairs for organizing the event. He said such platforms help attract global attention to Pakistan’s maritime opportunities and strengthen partnerships for economic growth.
Aurangzeb highlighted recent economic improvements, including stable exchange rates, foreign reserves above $14 billion, and single-digit inflation. He noted that international rating agencies have upgraded Pakistan’s outlook to “stable,” reflecting growing investor confidence.
Discussing Pakistan’s engagement with the International Monetary Fund (IMF), he said the recent staff-level agreement had further reinforced global trust in the country’s economic direction.
Turning to the maritime sector, Aurangzeb said it currently contributes only 0.4% of GDP — around $1 billion — but has the capacity to grow significantly. He emphasized the government’s vision to expand the Blue Economy to $100 billion by 2047, coinciding with Pakistan’s 100th anniversary.
He urged stakeholders to focus on modernizing ports, promoting fisheries and aquaculture, and exploring renewable energy sources like tidal and offshore wind. Aurangzeb also suggested innovative financing models, including blue bonds, to support sustainable maritime projects.
In other related news also read Pakistani Economy — Journey from Crisis to Improvement
Concluding his remarks, he said the Blue Economy, like digital and mineral sectors, could reshape Pakistan’s growth strategy and contribute to a stronger, more resilient economy.
