Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry on Saturday announced the establishment of a state-of-the-art Aquaculture Park at Korangi Fish Harbour (KoFHAH), Karachi, at an estimated cost of 3 billion rupees.
The Minister made the announcement while chairing a high-level meeting, on the development of blue economy, attended by Chairman Gwadar Port Authority (GPA) Noorul Haq Baloch, representatives from Korangi Fish Harbour Authority (KoFHAH), the Marine Fisheries Department (MFD), and the Balochistan Chamber of Commerce and Industry, said a press release.
The estimated annual production of a 120-acre aquaculture park ranges from 360 to 1,200 tons, depending on the species cultivated and the farming system employed.
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 Minister said the project, covering 120 acres, should be developed under a public-private partnership framework, aiming to boost the country’s blue economy through sustainable aquaculture.
The meeting was informe that the land cost for the Aquaculture Park has been set according to an extensive farming model, offering an affordable and efficient foundation for private investors.
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.
To accelerate the process, the Federal Minister directed the Korangi Fish Harbour Authority to submit a comprehensive execution report within 10 days.
Emphasizing replication of success, the Minister proposed extending the aquaculture model to Balochistan, leveraging its vast coastal belt for sustainable marine farming.
In a move aimed at enhancing coordination, the Minister ordered the relocation of Marine Fisheries Department sub office to the premises of the Gwadar Port Authority.—APP
