Pakistan’s government and industry experts briefly turned their attention toward developing the country’s ‘blue economy’ after a mangrove restoration project in Sindh successfully sold 50,000 tonnes of carbon-removal credits through a Singapore-based carbon exchange in 2022. However, the interest quickly faded as attention shifted to other matters. Now, the blue economy—and its potential advantages for Pakistan—is back in focus. This renewed attention follows Finance Minister Muhammad Aurangzeb’s recent remarks at the Maritime Expo in Karachi, where he described the blue economy as a potential ‘game-changer’ for the national economy.

Pakistan aims to expand this sector’s contribution from around $1 billion to a remarkable $100 billion by 2047. While the ambition is commendable, it raises legitimate concerns about whether the country has the capacity and systems to achieve such a target. Earlier this week, the finance minister described Pakistan’s external deficit as “manageable” and announced that the National Finance Commission (NFC) would soon begin discussions on revising the resource distribution formula. However, as with many past announcements, these promises have yet to be followed by visible progress. Achieving growth in the blue economy will require far more than political declarations—it will need steady commitment, adequate investment, and effective governance.

Currently, Pakistan’s fisheries sector is under regulated, and although the government has expressed intentions to modernize ports, no clear plan has been shared. Unless these deep-rooted structural problems are addressed, the dream of a thriving blue economy will remain unrealized. Moreover, Pakistan must ensure that its economic ambitions do not harm marine ecosystems or local communities. For instance, a few years ago, residents in Balochistan protested against large trawlers that depleted fish stocks, leaving small-scale fishers without livelihoods. Any investment in the sector should therefore prioritize local welfare and environmental protection.

Sustainability must be at the heart of the blue economy. Responsible fishing, renewable energy adoption, and eco-friendly port operations are essential components. Pakistan has already experienced the devastating effects of climate change, and any reckless exploitation of natural resources could worsen the situation.

The government’s recent initiatives also highlight the need for international cooperation. Collaborations with countries such as China, the UAE, and European partners like Romania could help Pakistan become part of broader trade and energy networks. However, trade agreements must be fair and mutually beneficial. The World Bank has urged Pakistan to reform its imbalanced trade deals with 10 bilateral partners, move toward a flexible exchange rate system, and implement deep structural reforms to reduce energy and production costs. These steps are critical to reviving the country’s declining export sector and achieving sustainable growth.

Experts believe that Pakistan’s current trade agreements largely favour its partners, allowing foreign products to dominate the domestic market while local industries struggle to survive. Although the government insists that the deficit is under control and the blue economy target is within reach, success will depend on practical execution. Without strong institutions, political unity, and consistent policy implementation, the structural reforms needed to end Pakistan’s recurring economic instability will remain unattainable.