Pakistan heavily dependent on sea lanes: PM

ISLAMABAD: Prime Minister (PM) Shahid Khaqan Abbasi says greater efforts are being made for the optimal exploitation of Pakistan's Exclusive Economic Zone (EEZ).

Speaking at the International Maritime Symposium where the theme of the conference was “Impact of Belt and Road Initiative on Geo-Economics of Indian Ocean Region” at Bahria University today, the premier said the economic zone covers almost 40 per cent of the country's land mass, however, it remains undeveloped. 

He added that its development is critical as almost 80 per cent of the trade is being done by the sea now.

He also added that Pakistan is dependent on the sea lanes and that an effort to improve access and connectivity for our own benefit should be done. With its excellent strategic position, the sea routes will help with trade not only with western China but to all of central Asia, the PM added. 

The PM also said Pakistan is building a 1,700 kilometre six-lane motorway along with a 1,200 kilometre-long-road that would help in improving access and connectivity and regional trade.

Abbasi added that Pakistan is hoping for a six per cent GDP growth this year, which could go up to nine per cent with the development of infrastructure as well as energy and communication sectors.

Talking about the security concerns, the PM said Pakistan Navy is fully aware of threats and is actively developing its capability to counter any challenge.

Chief of Naval Staff Admiral Zafar Mahmood Abbasi who was also present at the symposium said that despite the challenges, Pakistan Navy has formulated a strategy to safeguard national maritime interests.

The admiral added the PM has approved the setting up of a shipyard at Gwadar which would contribute to Pakistan’s economy as well. The setting up of another shipyard was on the table too.

The Ministry of Ports and Shipping has been renamed as Ministry of Maritime Affairs, he added.

He also expressed confidence in Belt and Road's initiative (BRI) and China-Pakistan Economic Corridor (CPEC) which he believes will also help in strengthening ties between the two countries.

Professor Tang Mengsheng, director of the Centre for Pakistan Studies at Peking University, said CPEC would contribute to the socio-economic development of Pakistan and China both.