Islamabad: Minister for Finance and Revenue Senator Muhammad Aurangzeb has expressed the confidence that blue economy will become a game changer for Pakistan.

Addressing via Zoom Pakistan International Maritime Expo and Conference (PIMEC) organized at Expo Centre Karachi, Muhammad Aurangzeb highlighted the potential of blue economy to propel the overall economy.

The Finance Minister mentioned that our seafood exports reached about five hundred million dollars and taking the figure to two billion dollars in the next three to four years is an achievable milestone.

He highlighted the Ministry of Maritime Affairs' target of growing the blue economy to one hundred billion dollars by 2047, describing it as ambitious but achievable.

He explained that this vision is backed by a robust and clear roadmap, with key strategies focused on achieving excellence in fisheries and aquaculture. He said this include enhancing value-added processing capabilities, modernizing cold chain logistics and implementing world-class hygiene standards to ensure the highest quality.

Muhammad Aurangzeb also alluded to the significant progress made by Pakistan in terms of macroeconomic stability. He said the exchange rate is stable and the foreign exchange reserves are sufficient to cover roughly two and a half months of imports. He said the inflation rate is in single digit.

The Finance Minister said that apart from structural reforms, improved trade and investment flows which are expected in the coming months will help us in moving towards a sustainable growth path.