The government, with support from the Special Investment Facilitation Council (SIFC), is looking into ways to boost the economy by focusing on the ‘Blue Economy’. This strategy involves using the country’s marine resources sustainably to foster economic growth and create new jobs.
A major event, the Coulomb Conference on Logistics 2024, is set to take place in Karachi to discuss the potential of the ‘Blue Economy’ in driving economic development.
The ‘Blue Economy’ refers to the responsible and sustainable use of ocean resources for economic purposes. Unfortunately, Pakistan currently holds a very small share—just 0.25%—in the global ‘Blue Economy’, making it one of the lowest in the worldwide export market.
Several challenges hinder the growth of Pakistan’s ‘Blue Economy’. These include outdated fishing practices and illegal fishing activities, which limit the potential for sustainable development. To combat these issues, Pakistan has joined hands with the Maritime Anti-Corruption Network in Denmark to fight corruption and promote better practices in maritime activities.
By addressing these challenges and focusing on sustainable practices, Pakistan aims to significantly improve its share in the global ‘Blue Economy’, providing a boost to the national economy and creating more job opportunities.
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