Abstract
The Blue or maritime economy promotes sustainable economic growth and development. In Pakistan, governments have not paid adequate attention in the
growth of ocean economy. Under the flagship project of CPEC, the Sino-Pak blue partnership is expected to promote the growth of maritime economy in Pakistan. This paper explores opportunities attached with blue economy and highlights the barriers which could impede the growth of this sector in Pakistan. A 1050 km long coastline and the EEZ with 290000 sq. km of sea zone promise Pakistan with invaluable untapped and unexplored hydrocarbon reserves, minerals, fish stocks and other marine resources. Pakistan’s maritime sector has huge potential of growth but needs favorable policies and substantial investment to materialize the dream of sustainable growth into reality. The geo-strategic location provides Pakistan a pivotal position in the changing dynamics of the India Ocean and if this potential is utilized to its maximum, Pakistan can covert it vast sea zone into an epicenter of blue economy in the region. The paper concludes with the argument
that future of Pakistan is attached with the development of blue economy. An all- encompassing strategy on maritime sector by government can pave the road to prosperity in Pakistan.
Muhammad Usman Askari, Muhammad Tahir, Nafisa Shaheen. (2020) Blue Economy of Pakistan: Challenges and Prospects, Journal of the Punjab University Historical Society, Volume 33 , Issue 2.
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