logo
#

Latest news with #MarineFisheriesDepartment

Govt to build Rs3b aquaculture park
Govt to build Rs3b aquaculture park

Express Tribune

time20-07-2025

  • Business
  • Express Tribune

Govt to build Rs3b aquaculture park

Listen to article The federal government has decided to establish a state-of-the-art Aquaculture Park at Korangi Fish Harbour (KoFHAH), Karachi, under a public-private partnership framework aimed at boosting the country's blue economy through sustainable aquaculture. The project is estimated to cost Rs3 billion. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced the plan while chairing a high-level meeting on the development of the blue economy. The meeting was attended by Chairman Gwadar Port Authority (GPA) Noorul Haq Baloch, representatives from the Korangi Fish Harbour Authority (KoFHAH), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry. The 120-acre aquaculture park is projected to produce between 360 and 1,200 tonnes of marine products annually, depending on the species cultivated and the farming systems used. Revenue potential is estimated between $720,000 and $7.2 million per year, influenced by species selection, market prices, and production intensity. Officials informed the meeting that land costs have been determined based on an extensive farming model, offering an affordable entry point for private investors. Experts highlighted that Pakistan's coastal waters offer ideal conditions for aquaculture, making them highly suitable for farming a variety of marine species. To fast-track the initiative, the martime minister directed the Korangi Fish Harbour Authority to submit a comprehensive execution report within 10 days. Chaudhry also proposed replicating the aquaculture model in Balochistan, leveraging its vast coastal belt for sustainable marine farming. In a move to improve coordination, the maritime minister ordered the relocation of the Marine Fisheries Department sub-office to the Gwadar Port Authority premises. This administrative shift is expected to streamline inter-agency collaboration and expedite decision-making in blue economy projects. In a separate meeting, the federal minister reviewed progress on land allotment and the lease policy of Port Qasim Authority (PQA). Officials reported that the Survey of Pakistan has been tasked with identifying and demarcating PQA-owned land. It was also revealed that the PQA master plan is being revised in line with the broader feasibility study for the National Ports Master Plan, currently underway. Chaudhry reiterated the government's commitment to promoting sustainable marine development, reiterating that investment in aquaculture and port infrastructure is essential for ensuring food security, increasing exports, and creating employment across coastal regions. The series of meetings chaired by the maritime minister mark a significant step in the government's maritime development strategy, focused on harnessing the full potential of Pakistan's coastal resources through innovation, institutional coordination, and private sector participation.

Govt plans to establish Rs3bn aquaculture park in Karachi
Govt plans to establish Rs3bn aquaculture park in Karachi

Business Recorder

time19-07-2025

  • Business
  • Business Recorder

Govt plans to establish Rs3bn aquaculture park in Karachi

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced the establishment of a state-of-the-art aquaculture park at Korangi Fish Harbour in Karachi, at an estimated cost of Rs3 billion. The minister made this announcement presiding a high-level meeting on the development of blue economy. The meeting was attended by Gwadar Port Authority (GPA) Chairman Noorul Haq Baloch, representatives from Korangi Fish Harbour Authority (KoFHA), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry. The 120-acre aquaculture park is estimated to produce 360 to 1,200 tons of seafood annually, depending on the species cultivated and the farming system employed. Its annual revenue is projected to be between $720,000 and $7.2 million, influenced by species selection, market prices, and production intensity, the Ministry of Maritime Affairs said in a press release. The World Bank defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods, and job creation, while ensuring the health of the ocean ecosystem. Minister Junaid said the project, covering 120 acres, should be developed under a public-private partnership framework, aiming to boost the country's blue economy through sustainable aquaculture. The meeting was informed that the land cost for the aquaculture park has been set according to an extensive farming model, offering an affordable and efficient foundation for private investors. Starting fish farming scheme in Sindh with World Bank support: Najmi Alam Experts informed the meeting that Pakistan's coastal waters possess highly conducive conditions for aquaculture, providing an ideal environment for farming a variety of marine species. To accelerate the process, the federal minister directed the KoFHA to submit a comprehensive execution report within 10 days. Emphasising replication of success, he proposed extending the aquaculture model to Balochistan, leveraging its vast coastal belt for sustainable marine farming. While, in a move aimed at enhancing coordination, Junaid ordered the relocation of Marine Fisheries Department sub office to the premises of the Gwadar Port Authority. This administrative shift is expected to streamline inter-agency collaboration and expedite decision-making in blue economy initiatives. In a separate meeting, the federal minister also reviewed the progress on the land allotment and lease policy of the Port Qasim Authority (PQA). Officials informed him that the Survey of Pakistan has been engaged to identify and demarcate PQA-owned land. Furthermore, it was conveyed that the revision of PQA's master plan is being aligned with the broader feasibility study for the National Ports Master Plan, currently underway. Minister Junaid reiterated the government's commitment to promoting sustainable marine development, asserting that investments in aquaculture and port infrastructure are essential for ensuring food security, increasing exports, and generating employment across coastal regions. The series of meetings held by the maritime minister mark a significant step in the government's broader maritime development strategy, focused on harnessing the full potential of Pakistan's coastal resources through innovation, institutional cooperation, and private sector engagement.

FY25 seafood exports soar 11.44pc to $465.4m YoY
FY25 seafood exports soar 11.44pc to $465.4m YoY

Business Recorder

time19-07-2025

  • Business
  • Business Recorder

FY25 seafood exports soar 11.44pc to $465.4m YoY

KARACHI: Pakistan's seafood exports hit a historic high in volume during fiscal year 2024–25, yet the country once again fell short of its long-pursued $500 million target, closing the year at $465.4 million — an 11.44 percent rise over the previous year, market players said on Friday. Pakistan's seafood exports surged notably during the fiscal year from July 2024 to June 2025, reaching a record volume of 216,350 metric tons. Official data released by the Federal Bureau of Statistics showed that while the industry achieved significant growth in quantity, the financial returns remained below expectations — indicating a mismatch between volume and value. Experts expressed mixed opinions—welcoming the growth in volume with optimism, but also voicing disappointment that the momentum was not enough to meet the decade-old revenue benchmark. Congratulating industry stakeholders, Saeed Fareed, Senior Vice Chairman of the Pakistan Fisheries Exporters Association, credited fishermen and processors for their tireless efforts that enabled Pakistan to secure a foothold in the global seafood market — despite international trade challenges. He noted that global seafood trade has faced instability due to uncertain tariffs introduced during the Trump administration. He said demand from Southeast and Far East Asian markets—particularly China, the world's largest seafood consumer — has sharply declined. He also emphasized that limited market access remains a key barrier to growth. Restrictions such as the United States ban on shrimp imports and lack of approvals from the European Union continue to hamper progress. Compounding the issue is a sharp decline in raw material supply, forcing many seafood processing plants to operate at just 20 to 25 percent of their installed capacity. Shrimp, once Pakistan's leading seafood export, has seen a dramatic drop in landings over the past two decades. The country's seafood industry now leans heavily on exports of cuttlefish, squid, and octopus. Studies by the Marine Fisheries Department and the United Nations Food and Agriculture Organization have previously highlighted the concerning depletion of fish stocks in Pakistani waters. To reverse this trend, Saeed Fareed stressed the urgent need for fisheries management reforms. He urged the government to engage the European Commission, Saudi Arabia, and United States authorities to facilitate inspections and approvals for more processing plants to access international markets. Echoing similar sentiments, Muhammad Moazzam Khan, former Director General of the Marine Fisheries Department, applauded the industry for achieving the highest export earnings to date. He then asked how Pakistan might break the $500 million barrier and aim for $1 billion in seafood exports, pointed to key government initiatives announced by the Prime Minister on December 24, 2024. These directives include development of cluster-based shrimp farming in Sindh and Balochistan, technical cooperation with Iran for shrimp hatchery establishment, bans on using trash fish for fishmeal production, and efforts to reduce post-harvest losses through onboard freezing systems. Moazzam Khan emphasized that successful implementation of these reforms—especially large-scale shrimp farming—could lead to a significant and sustainable boost in seafood exports. While seafood exports reached their highest-ever value of $496 million in 2022–23, it was in 2024–25 that export volumes soared to a record-breaking 216,350 metric tons—the highest ever in terms of quantity. This marks a new milestone for the sector. Over the past two decades, export performance has shown fluctuating trends in both volume and value. In 2001–02, total exports stood at 84,452 metric tons, valued at $125.6 million, with an average unit price (AUP) of $1.49 per kg. The following year saw a moderate growth of 7.05 percent, both in quantity and value, though the AUP dipped slightly to $1.44 per kg. By 2005–06, a significant jump occurred, as exports reached 105,000 metric tons, bringing in $194 million—showing a strong year-over-year increase of 39.63 percent, one of the highest positive growth spikes in the dataset. In contrast, 2004–05 had seen a decline of -11.08 percent. The year 2010–11 also recorded remarkable growth of 30.31 percent, with export value soaring to $296 million. However, the most dramatic growth occurred in 2022–23, with exports climbing to 214,367 metric tons valued at a record $496.3 million — the highest export value in the entire timeframe. On the other hand, the lowest export volume was recorded in 2001–02 at just 84,452 metric tons. Despite fluctuations, the average unit price continued rising over time, peaking in 2021–22 at $2.59 per kg, the highest unit price observed. The most significant decline came in 2023–24, with a sharp decrease of -17.34 percent despite maintaining relatively high export volumes at 200,709 metric tons. In 2024–25, the sector rebounded, with exports increasing to 216,350 metric tons and a total value of $465.4 million, reflecting a healthy 13.44 percent growth from the previous year. The average unit price stood at $2.15 per kg, slightly lower than some earlier peaks but still competitively strong. Copyright Business Recorder, 2025

FY2024-25 seafood exports reach $489.2m mark
FY2024-25 seafood exports reach $489.2m mark

Business Recorder

time08-07-2025

  • Business
  • Business Recorder

FY2024-25 seafood exports reach $489.2m mark

ISLAMABAD: Pakistan's seafood exports with 20.5 percent increase during 2024-25 has reached $489.2 million against $406 million of the past year which is the second highest volume behind $496 million in 2022-23. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, while sharing the details of Pakistan's seafood exports during 2024–25 here on Monday, said that China retained its position as the top importer, purchasing over 99,238 metric tons of seafood worth $186 million. Thailand followed as the second-largest destination, importing seafood valued at $105.7 million. Other key markets included the UAE, Malaysia, Japan, South Korea, Kuwait, Saudi Arabia, Vietnam, and Indonesia which reflects Pakistan's wide and diversified global outreach. Lauding the Marine Fisheries Department's seafood annual export progress, the minister attributed this strong performance to enhanced regulatory measures, export diversification, and sustained international demand. Chaudhry highlighted the sector's growth in export volumes, which rose by 19.8 percent to 242,484 metric tons, up from 202,400 metric tons in FY 2023–24. He said this volume growth reflects the sector's expanding production capacity and growing presence in global markets. The export value to the European Union surged by 44.4 percent to $13 million. The minister said this shift points to Pakistan's strategic focus on premium, high-value seafood products tailored to EU preferences, where quality and sustainability increasingly influence demand. The Marine Fisheries Department's report also detailed the product segments driving this growth. Fish meal led with 79,090 metric tons valued at $160 million, followed by frozen fish $103.11 million, shrimps $61.4 million, crabs $29.68 million, and mackerels $23 million. Other exported species included sole, jellyfish, skates, and eels. Chaudhry also noted a major boost in non-tax revenue from the fisheries sector, which jumped by 131.68 percent, from Rs101 million in FY 2023–24 to Rs 234 million in 2024–25. This increase, the minister said, reflects improved regulatory oversight and more efficient fee collection mechanisms implemented over the past year. 'This consistent upward trend is not just about rising trade figures; it's also about better governance and stronger institutions,' the federal minister remarked. 'Our regulatory reforms and sustainable practices are driving tangible results.' He emphasised that the government's continued investment in infrastructure, adherence to international standards, and commitment to responsible fishing are central to this progress. Efforts to modernise processing facilities and tap into emerging markets are expected to further enhance Pakistan's competitiveness on the global stage, he added. Looking forward, Chaudhry reaffirmed the government's dedication to building on this momentum. Future plans include upgrading export infrastructure, encouraging responsible resource management, and exploring untapped markets to cement Pakistan's growing role in the global seafood trade. The fiscal year 2024–25 stands as a landmark for Pakistan's fisheries industry, with solid achievements in both quantity and value. These gains not only strengthen the national economy but also underline Pakistan's readiness to meet evolving global demands through sustainable and quality-driven practices, the minister stated. Copyright Business Recorder, 2025

Halal seafood industry: Pakistan, Vietnam agree to expand cooperation
Halal seafood industry: Pakistan, Vietnam agree to expand cooperation

Business Recorder

time30-06-2025

  • Business
  • Business Recorder

Halal seafood industry: Pakistan, Vietnam agree to expand cooperation

KARACHI: Pakistan and Vietnam have agreed to expand cooperation in the Halal seafood industry, signalling a new chapter in bilateral trade relations between the two countries. To this end, a key meeting was held between the Ambassador of Vietnam to Pakistan, Pham Anh Tuan, representatives of the Pakistan Fisheries Exporters Association, and Pangasius fish importers with Director General of Marine Fisheries Department (MFD) Dr Mansoor Ali Wassan. Dr Wassan informed the participants that Pakistan's seafood exports to Vietnam reached US $9 million in 2024, a 20 percent increase over the previous year. He also highlighted Pakistan's expanding capabilities in aquaculture and Halal-certified fish processing. Pakistan marks first shipment of farm-raised shrimp Dr Wassan noted that with steady efforts in policy coordination, trade facilitation, and infrastructure development, especially in cold chain systems and Halal certification, Pakistan has the potential to match or even exceed Vietnam's seafood exports to Pakistan. He remarked, 'Setting an annual export target of $25–30 million within next five years is not only realistic but also strategically advantageous for diversifying Pakistan's marine export portfolio.' Ambassador Pham Anh Tuan emphasised the importance of strengthening coordination between Vietnamese and Pakistani stakeholders through regulatory harmonisation and technical cooperation. He reaffirmed Vietnam's adherence to Halal standards for seafood exports to Pakistan and welcomed deeper institutional collaboration. Dr Wassan expressed Pakistan's readiness to enhance bilateral engagement to further develop its fisheries and aquaculture industries, pointing to Vietnam's success in aquaculture as a valuable model for learning and investment. Executive Committee Member of the Pakistan Fisheries Exporters Association, Asim Abrar noted that while Pakistan has exported raw seafood for over four decades, the country is now making strides in value-added segments such as shrimp farming drawing inspiration from Vietnam's successful development in this area. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store