IN what could be called a first step towards exploiting the untapped potential of blue economy, the government on Friday unveiled a new shipping policy offering incentives for establishment of local shipping lines. Addressing a news conference, Minister for Maritime Affairs Ali Haider Zaidi said the target is to attract the private sector to shipping business and the state will protect them as it is being done globally. Till the year 2030, customs duty has been abolished for all ships to be registered in the country so that they become national flag carriers.
Currently, Pakistan spends around $5 billion annually in terms of freight charges for all foreign trade and PNSC’s share is only five per cent of it as the country has only eleven ships. Ali Haider Zaidi really deserves appreciation for coming up with the new policy after consultations with the stakeholders as with the involvement of private sector, it will lessen dependence on foreign vessels and definitely reduce our freight cost. It is a matter of satisfaction that finally being an important maritime state in the Indian Ocean region, Pakistan is progressively apprehending the marvels of blue economy. The country is blessed with over 1000 km long coastline and with the right kind of planning especially in the sectors of fisheries, maritime transport, coastal tourism, renewable energy and waste management, the country can push forward its economic growth. Gwadar can play an instrumental role in transforming Pakistan’s economy via trans-shipment alone. For this, various under-construction CPEC mega projects should be completed within the projected dates in order to get the true economic benefits. Furthermore, the ship breaking industry should be revived back and fully utilized to its full potential. It has the capacity to contribute millions of dollars to the GDP. Another most important industry which shows great promise is coastal tourism. The tourists around the world are being attracted towards beautiful places especially the sea coasts with vast biodiversity and attractive beaches. With regards to Pakistan, the coastal tourism has a huge potential which needs to be exploited.
