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]