ISLAMABAD: Pakistan has significant potential in boosting fish exports if research is conducted to expand the resource base and catching techniques are modernised.
“Modern technology can help Pakistan improve fish production and exports, and protect the environment at the same time,” Zahid Mehmood Akhter, an assistant professor and coordinator of the economic department at the National University of Modern Languages, Islamabad, told WealthPK.
“Modern boats and cutting-edge fishing equipment need to be introduced on a priority basis as this will not only help control overfishing and marine pollution but also protect fish resources,” he said.
“The government should develop the maritime fisheries infrastructure and also extend financial support to the fishing communities,” he added.
The NUML teacher stressed that sustainable development of the fisheries sector can be attained through evolving proper mechanisms with the input from academia, media and the people involved in fishing trade.
Meanwhile, Dr Sajid Mehmood Shahzad, Vice-Chancellor of Minhaj University, Lahore, underscored that the strategically-located Gwadar Port can play a big role in boosting Pakistan’s fisheries sector. He said the development of port infrastructure on modern lines with Chinese assistance and expertise under the China-Pakistan Economic Corridor has the potential to turn around the Balochistan province’s economy, hugely benefiting its large fishing communities.
“The Maritime Silk Road can play a significant role in developing fisheries sector by connecting it with the ports of Bin Qasim, Gwadar and Karachi and building more ports. This will not only assist the fisheries industry to grow but also attract foreign direct investment and generate job opportunities,” Sajid Shahzad said.
He stressed the need for setting up exclusive economic zones to promote the fisheries sector. He also called for conducting research to know about the potential resources of fisheries and maritime zones.
“Through providing proper infrastructure at its ports, Pakistan can boost fish trade with neighbouring countries like Afghanistan, Iran and Central Asian Republics.”
According to the Pakistan Economic Survey 2021, the country has significant potential to boost fish exports. Current estimates show that the seafood industry’s worth is around $2.8 billion to $3.5 billion. Currently, Pakistan exports fish products worth $400 million annually, according to WealthPK.
Of the total 445,000 metric tonnes of fish caught annually, 10% is exported, 60% is used for production of fish meal and the remaining 30% is consumed locally.
According to the Pakistan Bureau of Statistics, the country’s seafood exports grew by 6.48% year-on-year to $267.486 million during July-February 2021-22, from $251.199 million during the same period of the last fiscal year.
Regardless of the small contribution of the fish exports to the economy, it is a vital source of supplying protein domestically. The fishing sector in Pakistan provides employment to around 400,000 fishermen and another 600,000 in related industries.
The waters of Pakistan are rich in marine life and valuable species that have extensive market value.
Around 760 species of fish are available in Pakistani waters with 114 of them carrying tremendous economic value.
Currently, fish exports of Pakistan account for only 0.25% of the total worldwide exports, according to WealthPK.
INP
