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Pakistan to Establish State-of-the-Art Aquaculture Park in Karachi

Strategic Insights

— 1 min read

The federal government of Pakistan has decided to establish a state-of-the-art Aquaculture Park at Korangi Fish Harbour (KoFHAH) in Karachi under a public-private partnership framework to boost the country's blue economy through sustainable aquaculture. The project, estimated to cost Rs3 billion, aims to produce between 360 and 1,200 tonnes of marine products annually and generate revenue between $720,000 and $7.2 million per year.

Key Takeaways:

  • The Aquaculture Park will be a 120-acre facility located at Korangi Fish Harbour (KoFHAH) in Karachi, Pakistan, and is expected to produce between 360 and 1,200 tonnes of marine products annually.
  • The project is estimated to cost Rs3 billion and will generate revenue between $720,000 and $7.2 million per year, depending on species selection, market prices, and production intensity.
  • The project will offer an affordable entry point for private investors, with land costs determined based on an extensive farming model.
  • The project is expected to create employment opportunities across coastal regions and contribute to ensuring food security and increasing exports.
  • The maritime minister has directed the Korangi Fish Harbour Authority to submit a comprehensive execution report within 10 days to fast-track the initiative.
  • The minister has also proposed replicating the aquaculture model in Balochistan, leveraging its vast coastal belt for sustainable marine farming.
  • The federal minister has ordered the relocation of the Marine Fisheries Department sub-office to the Gwadar Port Authority premises to streamline inter-agency collaboration and expedite decision-making in blue economy projects.

Statistics:

  • The Aquaculture Park is expected to produce between 360 and 1,200 tonnes of marine products annually.
  • The project is estimated to generate revenue between $720,000 and $7.2 million per year.
  • The project cost is estimated to be Rs3 billion.
  • The land costs for the project have been determined based on an extensive farming model, offering an affordable entry point for private investors.
  • The project is expected to create employment opportunities across coastal regions.
  • The federal minister has directed the Korangi Fish Harbour Authority to submit a comprehensive execution report within 10 days.

Sources:

  • "Federal government to establish Aquaculture Park in Karachi."
  • "Maritime Ministry showcases vision for Pakistan's Blue Economy under FG’s Blue Economy Framework."

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