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| 16 April 2004 | Friday | 25 Safar 1425 |
Call for 'credible' maritime strength
KARACHI, April 15: Pakistan should take necessary measures to benefit from the tremendous economic activity that would take place through its sea lanes in the coming years by ensuring a credible maritime strength.
"Pakistan Navy is fully trained to meet the challenges of modern warfare, and is capable of protecting the country's territorial waters as well as its maritime interests," said Rear Admiral Iftekhar Rao, Deputy Chief of the Naval Staff (operations), during a press briefing held at PNS Mehran on Thursday.
He emphasized the significance of the Arabian Sea saying that 95 per cent of Pakistan's trade took place through the sea route and said that naval strength and the well-being of a country went hand in hand. He pointed out that 72pc of the world's oil was transported through our region which necessitated credible naval strength and presence.
Admiral Rao said there were sea food resources worth $2 billion besides oil and other minerals in the Exclusive Economic Zone (EEZ) spread over 240,000sqkm. Answering a question, he said Pakistan was committed to providing security to all stakeholders in connection with the laying of the proposed Iran-Pakistan-India gas pipeline.
In reply to a question about the scientific study report to be submitted to the United Nations for the enhancement of EEZ, he said a French company was being awarded the contract to carry out the study before the 2007 deadline.
Admiral Rao was of the view that world's dependence on the Middle Eastern oil reserves would increase in the future as proven oil resources of North America, Europe and the Asia Pacific were far less than the proven reserves of the Middle East. "As such 72pc of oil would be passing right through our shores, generating tremendous economic activity," he said.
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