PRIME Minister Shehbaz Sharif’s remarks on the country’s staggering $5 billion annual expenditure on freight charges due to inadequate maritime infrastructure highlight a critical issue that demands urgent attention. His concerns regarding the country’s feeble fleet of vessels, juxtaposed with Bangladesh’s robust maritime capabilities, underscore a stark reality that cannot be ignored.
Indeed, the Prime Minister’s call for immediate action resonates deeply. Pakistan, with its strategic coastline and economic potential, stands at a crucial juncture where the enhancement of maritime capabilities could yield substantial economic benefits. The question inevitably arises: why has Pakistan, with its Ports and Shipping Ministry, not prioritized the development of local shipbuilding capacities? The lack of attention to this critical sector is glaring, compounded by the absence of comprehensive studies to tailor shipping policies effectively to the country’s specific needs. It is evident that past efforts have fallen short, failing to translate into tangible improvement in our maritime infrastructure. Central to addressing this issue is the modernization and revitalization of institutions such as the Karachi Shipyard & Engineering Works. Strengthening these facilities is not merely an investment in infrastructure but a strategic move towards bolstering our blue economy. A robust shipbuilding sector would not only reduce our dependency on foreign vessels but also create jobs, stimulate allied industries and contribute significantly to national GDP. Moreover, the development of a thriving maritime sector aligns with broader economic objectives, including the promotion of trade and commerce, regional connectivity and the harnessing of maritime resources. Countries worldwide have demonstrated the transformative impact of investing in maritime industries, leveraging their coastal advantages to drive economic growth. It is imperative to formulate a comprehensive strategy that includes targeted investment, policy reforms and capacity-building initiatives. This approach should prioritize research and development within the shipbuilding sector, fostering innovation and technological advancement. Collaborations with international partners could also provide valuable expertise and resources to accelerate progress.
