National fisheries policy being prepared to unlock $10bn potential: minister

National fisheries policy being prepared to unlock $10bn potential: minister.

Key points

• Pakistan's Maritime Affairs Minister highlighted the National Fisheries and Aquaculture Policy's $10 billion potential, alongside initiatives to improve ease of doing business, develop Gwadar Port, and protect marine ecosystems.
• Diesel gets massive Rs32.63 cut as petrol cost rises Rs2.97 per litre.
• The session was additionally informed regarding a $3 million Global Environment Facility (GEF)-backed project for the protection of marine biodiversity and coastal ecosystems.
• Work on establishing a one-window operation, modelled on the Khidmat Centres, had been completed.
• He remarked this while chairing a gathering to review the performance, progress and achievements of the Ministry of Maritime Affairs and its attached departments, read a press release.

Pakistan's Maritime Affairs Minister highlighted the National Fisheries and Aquaculture Policy's $10 billion potential, alongside initiatives to improve ease of doing business, develop Gwadar Port, and protect marine ecosystems. National Fisheries and Aquaculture Policy's $10 billion potential. Improving ease of doing business in the maritime sector. Gwadar Port's off-dock terminal for Central Asian trade. Marine biodiversity protection and sustainable fishing. Productive utilization of recovered port land. Add BRecorder as a trusted source on Google.

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhary remarked on Thursday that work was underway on the National Fisheries and Aquaculture Policy, aimed at unlocking the sector's potential to generate up to $10 billion through appropriate policies.

For context, the minister stressed the need to improve the ease of doing business in the maritime sector by simplifying procedures and ensuring meaningful consultation with businesses and other stakeholders.

He directed the ministry and its attached departments to incorporate their views and recommendations into policies and initiatives related to sea-based economic activities.

For context, the facility would provide multiple administration services to the business community through a single platform, helping reduce procedural delays and improve access for investors and maritime-sector businesses.

Junaid Chaudhary additionally highlighted the development of a 100-acre off-dock terminal at Gwadar Port, saying it would facilitate trade with the Central Asian Republics (CARs) and strengthen regional logistics connectivity.

In practice, the terminal is projected to improve cargo handling and logistics links and further enhance Gwadar's role as a gateway for trade with landlocked Central Asian countries, he went on.

Meanwhile, the session was additionally informed regarding a $3 million Global Environment Facility (GEF)-backed project for the protection of marine biodiversity and coastal ecosystems. The initiative focuses on biodiversity conservation and promoting environmentally sustainable fishing practices.

For context, the minister stressed that economic development in the maritime sector must go hand in hand with environmental protection, particularly the conservation of marine and coastal ecosystems.

He additionally sought a comprehensive plan for the productive utilisation of port land recovered from encroachments, saying it could generate further economic resources and contribute to the development of the country's blue economy. The session reviewed progress on various ongoing initiatives and projects.

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Taken together, the developments around national fisheries policy being prepared to unlock $10bn potential: minister point to a situation that is still moving, and the coming days should bring more clarity.