Islamabad: Pakistan’s maritime sector is set to undergo significant transformations as outlined by the Federal Minister for Maritime Affairs during a press conference at the National Press Club. The Minister discussed key achievements and future plans, emphasizing the need to boost the sector’s contribution to the national economy. Despite the global average maritime contribution to GDP being 7%, Pakistan’s share remains below 1%. Key initiatives include substantial foreign investments and enhanced port operations.
According to Press Information Department, the Ministry oversees 400 million tons of maritime trade and fisheries exports annually. Notable developments include Hutchison Ports’ commitment of 1 billion USD and AD Ports’ investment of 330 million USD over the next three years. With Central Asian countries and Russia planning to route trade through Karachi Port, Pakistan is set to become a strategic trade gateway. Gwadar Port is expected to handle 60% of the country’s import and export activities. The Ministry has also proposed to China the relocation of industries to Gwadar Free Zone to mitigate U.S. tariffs.
Efforts to optimize port operations include dredging Gwadar Port to a depth of 14.5 meters, enhancing security measures, and mandating 60% of public sector imports through Gwadar. Measures to facilitate Afghan transit trade are being implemented by replacing bank guarantees with insurance guarantees. International collaborations feature a 2 billion USD MoU with Denmark and enlistment in the EU and U.S. for fisheries exports. Pakistan has acceded to the Hong Kong Convention on Ship Recycling, improving shipbreaking standards.
Reforms are underway in the Karachi Dock Labour Board, with profitability at Karachi Port Trust (KPT) and Port Qasim Authority (PQA) significantly increased. The international ranking of KPT has improved from 84 to 61, and the KPT oil pier is being rebuilt. Institutional advancements include the establishment of Pakistan’s first-ever Classification Society, integration of maritime operations with Pakistan Single Window, and the formulation of National Maritime and Shipping Policies. The Pakistan National Shipping Corporation is in the process of acquiring four additional ships to reduce freight costs.
The minister concluded the briefing by reaffirming Pakistan’s sovereignty and highlighting the strategic importance of its maritime sector for economic growth.