Bolstering Sustainable Growth through Blue Economy

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.