Utilizing blue economy: A vital need of the hour
12 July 2024
Published in: Pakistan Observer
Prime Minister Muhammad Shehbaz Sharif has emphasized that Pakistan serves as the most suitable maritime trade route for Central Asian states. These states have expressed deep interest in utilizing Pakistan’s ports, highlighting the potential for Pakistan to earn billions in dollar exchange due to easy access to modern systems and ports such as Karachi Port Trust, Port Qasim Authority and National Shipping Corporation.
Undoubtedly, maritime trade is the backbone of the world economy and connectivity. Throughout history, nations that have focused on maritime trade have seen significant development, influencing regions worldwide for their own benefits. Today, maritime routes account for 80% of global trade, a proportion even higher in developed countries. On the other hand, over 70% of Pakistan’s trade depends on maritime commerce. Pakistan’s coastal strip spans over 1,046 kilometres, with three active ports. The most crucial project in the region, CPEC, is under construction with the help of China. Its completion will ensure simultaneous land and maritime routes for trade worldwide.
Strengthening the maritime industry can triple the country’s overall national production. To illuminate the possibilities of development by using maritime means, it is essential to locate Export Processing Zones, Industrial Zones, fisheries and storage facilities near ports, as well as connect them via rail and road. The inner and outer country of the port is gaining significance in rail and road transport.
Blue economy is a concept that provides resources, including energy, food and sustainable economic growth, while preserving natural resources, which are vital for other industries. Today, Pakistan has made the most significant investment in its history from China and Pakistan in this context. With the help of this route, Gwadar Port can also contribute to economic activities in Eastern and Western lands.
This development will bring economic prosperity to the industry. The concept of the Blue Economy is essentially the establishment of a new economic model that enables sustainable economic development by making better use of natural resources, exploration of mineral deposits, research and development and acquisition of wind and solar energy. Freshwater and fisheries are essential for not only meeting the country’s nutritional needs but also strengthening the country’s economy through exchange of views.
Shipping, shipbuilding and maintenance, ports and other industries such as tourism and defence-related activities could be increased. By focusing on beautiful beaches and coastal areas, maritime and coastal recreational and tourism activities can be promoted, leading to sustainable economic benefits.
In this regard, Pakistan’s economy can take a new direction by leveraging Blue Economy potential. The demand for sustainable economic development by making optimal use of natural resources can be met and the path can be made easier for stable economic systems. Decisions and investors have played a crucial role in eliminating obstacles to such measures to yield the maximum benefits.
The coastal strip of Sindh and Balochistan is full of natural beauty, with Sindh having 280 kilometres and Balochistan approximately 800 kilometres of beautiful locations and pristine waters. The city of Karachi has the largest natural port in the country, which is an attractive coast. Port Qasim connects Thatha, Badin and Keti Bunder, which has several tourist attractions. Although the coastal cliffs of Clifton, Sea View and Do Darya have been given some attention, other coastal areas are not visible for progress. In the past, many government projects were set up, but they only remained on paper.
Tourist destinations along the attractive coast of Karachi, a mega city, are essential for the blue economy. However, it has not yet focused on modern lines. The coastal beauties of Hawksbay are waiting for the promotion of tourism. Transparent application of public-private partnership principles is required to improve infrastructure.
Starting from Karachi and traveling to Balochistan, the beautiful beach of Gadani only has a ship-breaking industry, no tourist status. This coastal area can be highlighted to promote tourism and provide local populations with the best jobs.
Blue economy is a new economic model that can be established with a stable economic system, which can bring sustainable economic development. It is possible to explore the search for oil and gas reserves, research and development. Wind and solar energy can be improved in energy fields. Freshwater, fishing and fisheries should pay full attention to meeting not only the country’s food needs but also improving the country’s economy through exchange.
