Senator Muhammad Aurangzeb delivered a virtual address as Chief Guest at the inaugural session of the Pakistan International Maritime Expo & Conference, underscoring the government focus on expanding the Blue Economy into a major engine of national growth. Organised by the Pakistan Navy and the Ministry of Maritime Affairs, PIMEC was presented as a platform to attract investment and shape a roadmap that could see the maritime sector grow to USD 100 billion by 2047.
The Finance Minister highlighted recent macroeconomic improvements, noting foreign exchange reserves have risen to over USD 14 billion, the exchange rate is stable, and inflation remains in single digits despite temporary shocks. He said that all three major global rating agencies have upgraded Pakistan’s outlook to stable, and that a recent IMF staff level agreement has strengthened international confidence in the country s reform trajectory.
While the maritime sector currently contributes only about 0.5 percent of GDP, roughly USD 1 billion, Senator Aurangzeb argued that the Blue Economy holds immense untapped potential for trade, jobs and sustainable exports. He reaffirmed the government s commitment to policy continuity and investment facilitation to develop ports, enhance fisheries and aquaculture exports, and stimulate related industries.
The minister called for innovative financing tools to accelerate maritime projects, specifically endorsing the exploration of blue bonds to support renewable energy, coastal conservation and sustainable fisheries management. He also stressed the need to modernise port infrastructure and adopt measures that will attract private and international investors, shifting engagement toward broader trade and investment flows with partners in China, the United States and the Gulf.
Comparing the transformative potential of the Blue Economy to advances in artificial intelligence, digital infrastructure and the minerals sector, Senator Aurangzeb expressed confidence that PIMEC would generate actionable ideas to drive maritime growth. The minister said the government will continue to work with the Pakistan Navy, the Ministry of Maritime Affairs and private stakeholders to turn the Blue Economy into a cornerstone of Pakistan s long term economic vision.
