There is little focus on development of maritime economy: Mian Zahid Hussain - Press Release issued by Pakistan Businessmen and Intellectuals Forum.

Karachi -- February 01, 2023 (PPI-OT)

Following is the text of press release issued by Pakistan Businessmen and Intellectuals Forum (PBIF)

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Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said Pakistan can develop its economy by benefiting from the potential of the blue economy.

Blue economy refers to social and economic development by using the seas and oceans while protecting the marine environment and linked communities. Mian Zahid Hussain said that blue economy includes fisheries, aquaculture, marine life, transportation, marine tourism, coastal welfare, and other coastal and marine matters.

Talking to the business community, the veteran business leader said that farming plants and marine life, and fishing provide seventeen percent of animal protein to the entire human population. The blue economy also includes marine and offshore wind energy, seafood industry, tourism, and exploitation of oil and gas reserves in the sea, but the present major part of Pakistan's blue economy of consists of marine transport only.

Global maritime trade accounts for US$2.5 trillion and Pakistan exports seafood worth only 430 million dollars annually, which is plagued by various problems. Old and outdated fishing methods that do not protect the lives of fishermen, he informed. Mian Zahid Hussain said that Pakistan needs to equip its workforce with modern training, methods, tools, skills, and corporate...