Abstract
High pace of industrial growth accompanied by the population surge is putting enormous pressure on economic planning. From time immemorial oceans and waterways have been a source of sustainable economic prosperity as oceans cover 70 percent of the earth’s surface and have the potential to support human economic activity. Today, nations are putting effort and resources to leverage their maritime potential for the sustainability and prosperity of their populace and also provide opportunities for the next generations in a hope that through proper planning and implementation of the maritime policies an eco-balanced maritime strategy can be inactive that ensures socio-economic development of the respective countries. Pakistan is blessed with a coastal belt of 1,046 km which is strategically located and is part of the 21st century’s Maritime Silk Route. With natural ports having full potentials like Gwadar and Karachi that not only connects regional stakeholders but also has the potential as the engine of growth and development for Pakistan and a regional hum of maritime connectivity. It is evident from empirical data that the Blue economy of Pakistan is extremely important not only for Pakistan but also for the entire region as part of MSR. This paper targets to analyze the maritime sector situation of Pakistan under the Blue economy and its pertinence for Pakistan through some realistic policies as the constructive implementation of maritime sector-related policies will play a pivotal role in attaining the Blue growth in Pakistan. The key objective of this study is to focus on the sustainable blue growth of Pakistan, as there is a void in the literature on this topic concerning to Pakistan. This paper fills that gap by offering a conceptual framework to guide policy-makers in Pakistan on the policy recommendations to attain sustainable blue growth in Pakistan.
Highlights
Developing countries like Pakistan are doing economic reforms since late 70’s to increase the pace of their growth and to control inflation in order to meet the macro-economic goals and SDG’s by lifting inward economic policies towards outward and from close to open economies but still after passing decades we are struggling for our growth, debt burden and inflation crisis because only demand and supply will not change our fate unless we utilize the resources gifted by God
Oceans all across the world have great importance necessary for the survival and revival of economies and this precious resource of sea gifted by the Almighty is not divided into islands but connected by their Blue Sea that represents our joint future so, Blue economy is emerged as an alternate economy globally and to utilize this alternate Pakistan and other developing nations must cherish their livelihood through Blue Governance as the dependence on the free passage of goods through oceans holds the key for trade oriented economic structure
For Pakistan, maritime trade is the back bone of our economy as over 95 percent of our international trade is transported through seas
Summary
“Even if you never have the chance to see or touch the ocean, the ocean touches you with every breath you take, every drop of water you drink, every bite you consume. From the past few decades terms related to Blue Economy and Blue Growth are under discussion and discussed in the policy-making circles all around the world and as it is associated with the sustainable development goal as country’s ocean space and resources are vital as human drivers of change. The Blue sphere which humanity occupy is distributed by sea but it will connect the whole world with a connected and shared future so it is important for all oceanic nations to develop their nations through governance and support of desired policies so that the challenges towards achieving a Blue economy with the greatest need for extensive use of the ocean to achieve the country’s blue economy aspirations. Bangladesh earns almost $6 billion in 2019 (Report by World Bank, 2021, March 31). in different associated blue fields so there is a dire need to give boost bundles to our Maritime Blue Sector through maritime policy and through green and blue initiatives
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