2 days ago
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Seafood export target set at $450m, minister told
ISLAMABAD: The Ministry of Maritimes Affairs has set seafood export target at $450 million this year and a non-tax revenue target of Rs 250 million within next three years.
This was told by Marine Fisheries Department (MDF) Director General (DG) Dr Mansoor Ali Wasan to the Federal Minister for Maritimes Affairs Junaid Akbar Chaudhary. The DG MDF said that his department has initiated establishing a fisheries dialogue, research centre, revamping the fisheries training center to conduct 300 training sessions over three years and reactivating four laboratories to achieve the targets.
Pakistan's seafood exports from July to May (2020-24) stood at $383.088 million; an increase from $373.382 million recorded during the same period in 2019-23. This reflects a year-on-year growth rate of approximately 2.6 percent, despite global economic challenges and fluctuating trade patterns.
He added Pakistan is endowed with immense fishing potential, thanks to our 1,000-kilometre-long coastline, diverse aquatic species, and favourable climatic conditions. China has emerged as a pivotal partner in our seafood trade, accounting for a substantial portion of our exports.
Pakistan's seafood exports reached $410.268 million in fiscal year 2023-24, a decrease of 17.4 percent compared to the record high of $496.6 million in the 2022-23 fiscal year.
DrWasan informed the maritime minister that stakeholders in fisheries, such as fishermen, exporters, and crew members will receive training at the Fisheries Research Centre.
The minister urged KoFHA to accelerate the Pak Aqua public-private venture to enhance trade by leveraging private sector investment for facility modernisation and operational efficiency.
The minister emphasised the importance of climate-resilient infrastructure in a new maritime strategy, aiming to modernise ports, reduce environmental impact, and boost economic growth.
In a series of high-level meetings, the minister reviewed progress across key maritime institutions, including the Port Qasim Authority (PQA), Karachi Port Trust (KPT), Korangi Fisheries Harbour Authority (KoFHA), and the Marine Fisheries Department (MFD), emphasising environmental sustainability.
The minister assessed the implementation of PQA's 10-year development plan focused on increasing cargo handling capacity and modernising infrastructure to establish the port as a regional maritime logistics hub.
Junaid Anwar Chaudhry also evaluated KPT's reform strategy emphasising governance, human capital, operational modernisation, financial sustainability, stakeholder engagement, and service delivery.
Copyright Business Recorder, 2025
