Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry spoke at a symposium titled "Pakistan's Maritime Future: Maritime Security, Ocean Governance and Blue Economy". The National Institute of Maritime Affairs organised the event.
Chaudhry stated that the ministry is working to attract investment, facilitate trade, expand the national merchant fleet, and improve port efficiency. The Karachi Port Trust handled more than 2,000 ship movements recently.
To streamline operations, the ministry introduced reforms in auction procedures and port charges. Officials also took measures to expedite clearance and facilitate refrigerated cargo.
Pakistan's removal from the Joint War Committee's list could lower additional insurance costs for maritime trade. "The move is expected to benefit commercial activity worth around $3 billion," Muhammad Junaid Anwar Chaudhry said.
Proposed projects include a $680 million steel project at Port Qasim and a $1.4 billion integrated maritime industrial complex. A multipurpose terminal estimated at around $350 million is also proposed.
The government is working to expand the fleet of the Pakistan National Shipping Corporation. Further efforts include promoting shrimp farming and strengthening the fisheries value chain.
