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The federal government has decided to make Gwadar Port fully operational, announcing that 60% of government imports and exports will be routed through it.
Addressing the National Maritime Policy Workshop in Islamabad, Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, emphasized the critical role of the maritime sector in Pakistan’s economic development. He highlighted the necessity of promoting maritime trade for sustainable economic growth, underscoring its significance in the nation’s long-term prosperity.
The minister acknowledged the presence of highly skilled teams at Karachi Port Trust, Port Qasim, and other ports, all working to strengthen Pakistan’s maritime economy. Expressing optimism about the sector’s future, he affirmed that it will play a pivotal role in the country’s economic progress.
Reflecting on past challenges, Qaiser Ahmed Sheikh revealed that the maritime sector suffered losses worth billions of rupees last year. However, he noted that a profit target of Rs 100 billion has been set for this year, with strong prospects of achieving it. Additionally, he announced plans to increase Pakistan’s export target from US$ 32 billion to US$ 60 billion within the next four years.
He pointed out that despite their immense potential, Pakistani ports are currently operating at only 50% of their capacity. Given that the volume of imports and exports presently stands at US$ 90 billion, he projected that this figure could double within the next four years.
Discussing international trade dynamics, the minister highlighted the rapidly growing opportunities in Central Asian countries, which, lacking seaports of their own, rely on Pakistan’s ports for trade. He further mentioned that Prime Minister Shehbaz Sharif is actively engaging with these nations, visiting them to explore and expand trade opportunities.
In line with this expansion, Pakistani ports are undergoing upgrades to accommodate larger cargo ships. The minister stated that efforts are underway to enhance the capacity of vessels docking at the ports, increasing the limit from 4,000 containers per ship to 20,000 containers in the future.
Qaiser Ahmed Sheikh also noted that Pakistan is attracting significant interest from international shipping companies and investors. He pointed out that while many countries generate up to 40% of their GDP from the maritime sector, the global average contribution of this industry is 7%. He asserted that Pakistan has the potential to derive at least 5% of its GDP from maritime trade.
Turning to the fisheries sector, the minister stated that Pakistan’s seafood exports currently amount to US$ 400 million, while neighboring countries have far outpaced it in this field. He revealed that several international companies are interested in investing in Pakistan’s fisheries industry. To support this growth, steps are being taken to enhance Korangi Fish Harbor, with investments directed toward improving infrastructure and constructing new auction halls.
Reaffirming the government’s commitment to Gwadar Port, Qaiser Ahmed Sheikh reiterated that 60% of state imports and exports will be handled through this strategic port. He emphasized that Gwadar will be equipped with world-class facilities to transform it into a modern and fully operational hub, boosting Pakistan’s trade and economic activities.
Concluding his address, the minister highlighted the importance of the National Maritime Policy Workshop in shaping the future of Pakistan’s maritime sector. He noted the government’s active efforts in this area, emphasizing the work of specialized committees and task forces dedicated to maritime policy development. He concluded by assuring that Pakistan’s maritime industry will serve as a cornerstone in strengthening the national economy, playing a crucial role in its future growth and sustainability.
