Pakistan's Blue Economy Boost: Minister Announces State-of-the-Art Aquaculture Park in Karachi

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has unveiled a significant investment in Pakistan's blue economy with the development of a state-of-the-art Aquaculture Park at Korangi Fish Harbour in Karachi. The project, estimated to cost 3 billion rupees, aims to enhance the country's maritime industry and economic prospects. The 120-acre park is expected to yield between 360 to 1,200 tons of produce annually, generating revenues between $720,000 and $7.2 million each year.

Key Takeaways:

• The Aquaculture Park is expected to yield between 360 to 1,200 tons of produce annually, depending on cultivated species and farming methods.
• The project is estimated to cost 3 billion rupees and has the potential to generate revenues between $720,000 and $7.2 million each year.
• The Minister emphasized the importance of developing the project through a public-private partnership to bolster sustainable aquaculture and enhance the blue economy.
• The land for the park has been priced affordably to attract private investors, and experts have highlighted Pakistan's coastal waters as favorable conditions for aquaculture.
• Minister Chaudhry directed the Korangi Fish Harbour Authority to expedite the project by submitting a comprehensive execution report within ten days.
• He also suggested replicating the aquaculture model in Balochistan, leveraging the region's extensive coastline for sustainable marine farming.
• The Minister ordered the relocation of the Marine Fisheries Department's sub-office to the Gwadar Port Authority's premises to improve coordination and streamline decision-making processes.

Statistics:

• Estimated cost of the Aquaculture Park: 3 billion rupees
• Potential annual revenue: $720,000 to $7.2 million
• Annual produce: 360 to 1,200 tons
• Total land area: 120 acres
• Forecasted time for submission of comprehensive execution report: 10 days

Sources:

• [PPI-PR]