Latest news with #MuhammadJunaidAnwarChaudhry
Business Recorder
38 minutes ago
- Business
- Business Recorder
Pakistan to expand shipping capacity by 600% in next three years
The Ministry of Maritime Affairs has launched a major initiative to expand and modernise the national shipping fleet as part of efforts to strengthen maritime infrastructure and reduce reliance on foreign vessels. Chairing the agreements' signing meeting, Muhammad Junaid Anwar Chaudhry, the maritime minister, said the initiative is designed not only to cut sea freight bills and conserve foreign exchange, but also to support climate-smart maritime practices by strengthening a cleaner, more efficient domestic fleet. Junaid said Pakistan plans to increase its shipping capacity by 600% over the next three years, with a focus on incorporating greener technologies and energy-efficient vessels into the state-owned fleet, read an official statement. Pakistan's PNSC partners with Chinese firm to explore maritime investments The Karachi Port Trust (KPT) and Port Qasim Authority (PQA) have signed separate agreements with the state-run Pakistan National Shipping Corporation (PNSC), pledging financial support for the fleet expansion plan. The agreements were signed by A. Abdullah Zaki, representing KPT's Transition Management Committee, and Rear Admiral (R) Syed Moazzam Ilyas HI(M), Chairman of PQA, with PNSC CEO Syed Jarar Haider Kazmi. According to the statement, the accords were finalised days after a high-level policy meeting chaired by Junaid Chaudhry, in which maritime stakeholders agreed to align fleet modernisation with environmental sustainability and national climate goals outlined by the prime minister's office. KPT and PQA officials stressed that modernising the fleet would not only conserve foreign exchange and enhance trade connectivity but also significantly lower the environmental cost of sea freight by minimising fuel consumption and enabling compliance with international emission standards. 'This initiative reflects our broader vision to modernise the maritime sector, boost operational efficiency, and introduce advanced technologies across all institutions,' Junaid said, adding that the government remains committed to transparency and merit-based decision-making.
Arab News
an hour ago
- Business
- Arab News
Government says Pakistan to expand shipping capacity by 600% under maritime overhaul
KARACHI: Pakistan plans to expand its national shipping fleet by 600% over the next three years under a sweeping new initiative to modernize its maritime sector, cut sea freight costs, and reduce dependence on foreign vessels, the country's maritime minister said on Tuesday. The announcement came after a signing ceremony where officials from the Karachi Port Trust (KPT) and Port Qasim Authority (PQA) inked separate agreements with the Pakistan National Shipping Corporation (PNSC) to finance the fleet expansion and upgrade program. 'This initiative reflects our broader vision to modernize the maritime sector, boost operational efficiency and introduce advanced technologies across all institutions,' Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said according to an official statement. Chaudhry said the expansion would focus on integrating energy-efficient and climate-smart vessels into the state-run fleet to align with Pakistan's national climate goals. He said the plan is aimed at conserving foreign exchange and enabling compliance with global environmental standards. Officials from KPT and PQA said the upgraded fleet would enhance Pakistan's trade connectivity and reduce the environmental impact of sea transport by lowering fuel consumption and emissions. Pakistan is stepping up efforts to strengthen port infrastructure to support international trade. The Maritime Affairs Ministry recently announced plans to expand Gwadar Port's capacity, including the introduction of new shipping lines and a direct ferry service between Gwadar and the Gulf countries, set to improve freight and passenger connectivity with the Gulf region. Pakistan has also offered access to its southern ports to Central Asian countries, positioning itself as a gateway for regional transit commerce under broader corridor agreements and transit trade frameworks.
Business Recorder
2 days ago
- Business
- Business Recorder
Pakistan's mangrove carbon market: $20m to $50m annual potential unlocked
ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Saturday stated that Pakistan hosted the largest contiguous arid mangrove forest in South Asia, primarily located in the Indus Delta region of Sindh, which has the potential to generate annual revenue of $20–50 million depending on market prices and volume. In a message on the occasion of the International Day for the Conservation of the Mangrove Ecosystem, the minister said Sindh's Delta Blue Carbon project, covering over 350,000 hectares, has already generated $40 million in carbon credit sales and projects to generate billions over the coming decades. 'Given Balochistan's significantly smaller mangrove area cover about 4,058 hectares and similar carbon sequestration value per hectare, its annual potential would be proportionally less but still meaningful as part of Pakistan's broader carbon market strategy', he added. The Delta Blue Carbon (DBC) project is a public-private partnership between the Government of Sindh and Indus Delta Capital, launched in 2015. It aims to restore and protect mangrove forests across more than 3,500 square kilometers of the Indus Delta. Highlighting the project's global significance, the minister noted that millions of carbon credits are being generated through mangrove forests in Sindh's coastal belt. 'Mangroves absorb four times more carbon compared to ordinary trees,' he said, underlining their unmatched value in climate mitigation. 'We are successfully implementing mangrove rehabilitation programs in Sindh and Balochistan, and these coastal forests are proving to be a vital natural shield against shoreline erosion and flooding,' he noted. The minister said future of our fisheries, coastal tourism, and sustainable resource management is deeply connected with the health of mangrove ecosystems as their decline, conversely, threatens the foundations of these vital sectors and the well being of coastal communities.
Business Recorder
3 days ago
- Business
- Business Recorder
Mangrove carbon market: $20m to $50m annual potential unlocked
ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Saturday stated that Pakistan hosted the largest contiguous arid mangrove forest in South Asia, primarily located in the Indus Delta region of Sindh, which has the potential to generate annual revenue of $20–50 million depending on market prices and volume. In a message on the occasion of the International Day for the Conservation of the Mangrove Ecosystem, the minister said Sindh's Delta Blue Carbon project, covering over 350,000 hectares, has already generated $40 million in carbon credit sales and projects to generate billions over the coming decades. 'Given Balochistan's significantly smaller mangrove area cover about 4,058 hectares and similar carbon sequestration value per hectare, its annual potential would be proportionally less but still meaningful as part of Pakistan's broader carbon market strategy', he added. The Delta Blue Carbon (DBC) project is a public-private partnership between the Government of Sindh and Indus Delta Capital, launched in 2015. It aims to restore and protect mangrove forests across more than 3,500 square kilometers of the Indus Delta. Highlighting the project's global significance, the minister noted that millions of carbon credits are being generated through mangrove forests in Sindh's coastal belt. 'Mangroves absorb four times more carbon compared to ordinary trees,' he said, underlining their unmatched value in climate mitigation. 'We are successfully implementing mangrove rehabilitation programs in Sindh and Balochistan, and these coastal forests are proving to be a vital natural shield against shoreline erosion and flooding,' he noted. The minister said future of our fisheries, coastal tourism, and sustainable resource management is deeply connected with the health of mangrove ecosystems as their decline, conversely, threatens the foundations of these vital sectors and the well being of coastal communities.
Business Recorder
3 days ago
- Business
- Business Recorder
Fisheries, dates exports: Junaid vows to develop Gwadar Port to earn $850m annually
ISLAMABAD: Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry, Friday, vowed to develop Gwadar Port in such a way to maximise benefit, saying that the development of the port can generate over $850 million annually through value-added exports of fisheries and dates. Chairing a high-level meeting on Gwadar Port operationalisation the minister said that to reap full fruits of the port, the government is committed to ensure sustained investment, infrastructure upgrades, and targeted policy support. 'Balochistan has an estimated annual fish catch potential of around 300,000 tons and with proper value addition, this could generate approximately $645 million each year. However, current production is nearly half of that due to limited fishing capacity, obsolete technology, and regulatory hurdles,' he stated. He pointed out that 34 fish processing units are currently operating in Balochistan, but most require technological upgrades to meet export standards. 'Transforming these units to add value through packaging and processing before exporting is critical for uplifting the sector,' he added. Turning to dates production, the minister stated that Panjgur and Turbat districts together produce over 225,000 tons of dates annually more than half of Pakistan's total. 'With value addition, the sector can generate up to $200–$205 million in revenue each year,' he said. Besides others, the meeting was attended by officials from the Ministry of Maritime Affairs and representatives from relevant ministries and organizations including Gwadar Port Authority, Commerce, Industries, and Communication through Zoom, the minister laid out a comprehensive strategy to boost economic activities in Gwadar. The minister reaffirmed the government's commitment to utilising local resources and empowering local businesses to operationalise Gwadar Port and stimulate the regional economy. He emphasised that fisheries and dates are the key economic drivers of the region. 'Gwadar has a rich fish catch potential, and we must focus on local value addition to maximise benefits,' he said. The minister pointed out that Balochistan's coastline makes up 76.2 percent of Pakistan's total coastal length, yet its fish production significantly lags behind its actual potential. To support business and connectivity in the region, the minister announced steps to improve air travel. Pakistan International Airlines (PIA) will increase its weekly flights to Gwadar from one to three. 'Two weekly flights between Gwadar and Karachi and one between Gwadar and Islamabad are under consideration,' he said. Furthermore, the possibility of introducing a chartered flight mechanism to facilitate travel for businesspersons and investors is also under consideration, the minister added. Copyright Business Recorder, 2025
