Seafood Exports: Pakistan Can Earn Billions of Dollars, Says Ali Pasnani

KARACHI: Seafood exports could help Pakistan earn billions of dollars in foreign exchange if the country fully develops its fisheries sector, said Ali Pasnani, Vice Chairman and Executive Director of Sindh Balochistan Coastal Group of Companies.

Speaking in an interview with Ausaf, Pasnani said Pakistan has a coastline of around 1,200 kilometres but has yet to fully utilise its potential.

He said Pakistan earned $563 million from seafood exports during the current year, while India’s seafood exports reached around $12 billion.

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Pasnani added that his group’s various companies exported 15,500 metric tonnes of seafood during the year, generating $22 million in foreign exchange for Pakistan.

Pakistan’s Seafood Market

According to Pasnani, China accounts for around 55% of Pakistan’s total seafood exports. The remaining 45% goes to markets including Indonesia, Thailand, Bangladesh, Egypt, Jordan and Australia.

He described the US ban on imports of Pakistani shrimp as a matter of concern and called for greater attention to expanding access to international markets.

Pasnani stressed that Pakistan must maintain high quality standards to strengthen its position in the global seafood market.

Investment in Fish Farming

Pasnani called for greater investment in fish farming and aquaculture. He said Pakistan could establish fish farms in different areas using seawater and increase shrimp production.

He also noted growing foreign investment interest in the fishing industry. However, he urged the government to provide investors with greater security, facilities and a supportive business environment.

He said Balochistan has significant potential for seafood production, while industries could also be established at Keti Bandar in Sindh to increase seafood exports.

Pasnani said the seasonal fishing ban imposed for around six weeks in June and July remains necessary to protect marine resources and support the future growth of seafood production.

Gwadar Offers Major Potential

Pasnani highlighted Gwadar’s strategic location and said the port could play an important role in global maritime transportation.

He said his family has been involved in business since 1898. The family initially operated in Mirpur Sakro, Sindh, before moving to Gwadar after drought affected the area.

The group currently operates eight companies and employs more than 500 people at its factories. Pasnani said employees receive insurance, medical facilities and other benefits, while the companies also provide vehicles to some employees.

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Pasnani said his group plans to register its companies with the Pakistan Stock Exchange within the next two years.

He said strong global demand for Pakistani seafood presents a major opportunity for the country. He called for cooperation between the government, investors and industry to modernise the sector and increase exports.

Pasnani also acknowledged the role of Federal Minister for Maritime Affairs Junaid Anwar Chaudhry and Director General of the Marine Fisheries Department Dr Mansoor Wassan in supporting the seafood sector.