Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Saturday announced the establishment of an aquaculture park in Karachi’s Korangi Fish Harbour to bolster Pakistan’s blue economy.

The government aims to develop the maritime sector and tap the economic potential of the country’s over 1000-kilometre-long coastline. Under the recently launched “Maritime at 100“ Vision, the country aims to grow the sector into a $100 billion economic force by 2047.

Chaudhry announced the establishment of a “state-of-the-art” aquaculture park at the Korangi harbour at an estimated cost of Rs3bn, according to a press release issued by the ministry.

The development came as Chaudhry chaired a high-level meeting on the development of a blue economy. The meeting was attended by Gwadar Port Authority (GPA) Chairman Noorul Haq Baloch, as well as representatives from the Korangi Fisheries Harbour Authority (KoFHA), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry.

The estimated annual production of a 120-acre aquaculture park ranges from 360 to 1,200 tonnes, depending on the species cultivated and the farming system employed, according to the statement. Its annual revenue potential is projected to be between $720,000 to $7.2 million, influenced by “species selection, market prices, and production intensity”.

The maritime affairs minister directed KoFHA to submit a comprehensive execution report within 10 days.

He said that the project should be developed under a public-private partnership framework to boost the country’s blue economy through sustainable aquaculture.

The land cost for the park has been set according to an extensive farming model, offering an “affordable and efficient foundation” for private investors, the press release noted.

It said experts informed the meeting that Pakistan’s coastal waters possess highly conducive conditions for aquaculture, providing an ideal environment for farming a variety of marine species.

Emphasising the replication of success, Chaudhry proposed extending the aquaculture model to Balochistan, leveraging its vast coastal belt for sustainable marine farming.

To enhance coordination, the minister ordered the relocation of the MFD sub-office to the premises of the GPA. The press release noted that the administrative shift was expected to “streamline inter-agency collaboration and expedite decision-making in blue economy initiatives”.

In a separate meeting, Chaudhry also reviewed the progress on the land allotment and lease policy of the Port Qasim Authority (PQA), according to the press release.

He was informed that the Survey of Pakistan has been engaged to identify and demarcate PQA-owned land. It was also conveyed that the revision of the PQA’s master plan was being aligned with a broader feasibility study for the National Ports Master Plan, which is currently underway.

Chaudhry reiterated the government’s commitment to promoting sustainable marine development. He asserted that investments in aquaculture and port infrastructure were “essential for ensuring food security, increasing exports, and generating employment across coastal regions”.

“The series of meetings held by the maritime minister mark a significant step in the government’s broader maritime development strategy, focused on harnessing the full potential of Pakistan’s coastal resources through innovation, institutional cooperation, and private sector engagement,” the press release said.

In June, Prime Minister Shehbaz Sharif declared the “blue economy” as Pakistan’s new economic frontier, calling for a unified national effort to develop the maritime sector.

“Even tapping a fraction of this economy could be a real game-changer,” he said, noting that Pakistan’s coastal trade already brings in nearly $7 billion a year. “Just imagine the potential if we fully develop this sector.”

Stakeholders have also welcomed a new idea floated by Chaudhry to set up a “maritime chamber of commerce and industry” so that all players in this sector could be brought on a single platform.