Maritime sector targets Rs100b profit for FY2025
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Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh has stressed the need for a fresh and holistic Maritime Policy 2025 to harness the potential of growing economies in Central Asia.
Addressing the National Maritime Policy Workshop 2025, Shaikh pointed out that Pakistan's ports are currently operating at only 50% of their capacity and projected that capacity utilisation would increase significantly as Pakistan's total import-export volume rises.
"However, we need to keep an eye on Central Asian countries as they are rapidly expanding their trade opportunities, and Pakistan should seize the opportunity as they lack their own seaports," the minister said, adding, "Prime Minister Shehbaz Sharif has recently visited Central Asian nations to explore further business prospects."
The conference, organised by the Ministry of Maritime Affairs, served as a platform for discussion, collaboration, and feedback from all relevant departments and sectors related to maritime affairs. It brought together government and private sector experts.
Once approved, the National Maritime Policy (NMP) 2025 will remain valid until 2047.
The minister emphasised the need to expand port capacities, stating that instead of handling four containers, Pakistan's ports should be capable of accommodating ships carrying up to 20,000 containers.
He said that Pakistan is attracting significant interest from global maritime companies and investors.
He pointed out that the global average contribution of the maritime industry to GDP is 7%, and Pakistan can achieve a target of 5%.
He also added that the maritime sector suffered losses amounting to billions of rupees last year, but a target to generate Rs100 billion in profit this year has been set. "I am sure we will achieve it," Shaikh added.
The minister announced that the government has decided to route 60% of all official imports and exports through Gwadar Port.
He emphasised that Gwadar Port must be upgraded with world-class facilities to establish it as a modern and fully operational deep-sea port.
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