Pakistan needs huge resources for building on a robust, reliable, and efficient system which should be able to monitor, track, identify probable threats to undersea cables and take effective measures to check it. Tahir Amin Choudhry Succinctly, submarine cables or undersea cables or subsea cables are fiber optics deep in the ocean floor encapsulated in a protective shell and in this present age of communication data comprising of personal or commercial, voice or digital, civil or military, educational or recreational and financial transmissions travel via them. More than 95% of the world's telecommunications traffic travels through about 438 transoceanic cables, which can vary from 17mm to 50 mm and totaling over 1.2 million Km in le...
February 10, 2023 at 9:27 am | Economic Affairs
Reformed maritime business strategies will impact related business sectors such as tourism, airlines, fisheries, and shipping and emerging sectors such as biotechnology and ocean energy. Dr. Sehrish Qayyum Economic activity in the ocean is expanding rapidly, driven primarily by changes in global demography, economic growth, trade, rising income levels, climate changes, environment index, and technology. Looking to 2030, many ocean-based industries have the potential to outperform the growth of the global economy, both in terms of value-added services, employment, as well as opportunities they offer. These industries include offshore wind, tidal, and wave energy; offshore aquaculture; cruise tourism; maritime surveillance, and mari...
February 10, 2023 at 9:11 am | Economic Affairs
New technologies are advancing the frontiers of marine resource development, including bio-prospecting and the mining of seabed mineral resources. Commodore Zafar lqbal The oceans cover a large proportion of the earth's surface and make up more than 95 per cent of the biosphere. Seas and Oceans have been used since antiquity but for a variety of reasons their usage has increased tremendously. They provide much of the world's population with food and livelihoods and are a significant means of transport in global trade. The ocean-related economy has played a pivotal role in boosting the world economy worldwide. All advanced cities all over the world are mainly coastal cities. As per estimates, about 40% of the world population is livin...
February 10, 2023 at 9:03 am | Economic Affairs
The event is aimed at promoting harmony and linkages between industries, consumers, businesses, and academia at the national and international levels, besides pivoting on strategizing diplomacies in technology and progression. Dr. Maliha Zeba Khan Exhibitions, exercises, training, conferences, symposia, and field tours are efficient tools of diplomacy. States do use these tools commonly to extend persuasive and cooperative diplomacy, and the outcome is pretty effective enhancing intra-regional and inter-regional relations at all levels. Adding spatiotemporal dimension augments efficacy, and synthesizing and strategizing such activities can culminate in supplemented dividends. The maritime-related event of the Pakistan Internationa...
February 10, 2023 at 8:57 am | Economic Affairs
By fostering a culture of cooperation and collaboration, a framework like AMAN Exercise can help build the capacity of regional littorals to effectively address security challenges in the region. Commodore Sohail Ahmad Azmie The Indian Ocean is a vital region for global commerce and energy security. Over 60% of the world's oil supplies, and more than 80% of the world's seaborne trade in petroleum products transit, through the Indian Ocean. Given its strategic importance, ensuring the security of the Indian Ocean is crucial for regional stability and global peace. The Indian Ocean, for most of its recent history has depended significantly on extra-regional forces for ensuring maritime security. AMAN Exercise, held in the wate...
February 10, 2023 at 12:25 am | Economic Affairs
Maritime is not just a sector but a parallel economy, where various sectors of the economy meet. Huma Baqai “Maritime Blindness” is not an option anymore. In the twenty-first century, the concept of the Blue Economy has become increasingly popular. The concept was first coined by Gunter Pauli in 2010, the author of the book The Blue Economy: 10 Years, 100 Innovations and 100 Million Jobs. Oceans are now seen as drivers of human development, source of food material, and space. The Blue Economy includes established conventional ocean industries like fisheries, tourism, and maritime transport, as well as new and emergent activities like offshore renewable energy, aquaculture, seabed extractive operations and marine biotechnology,...
February 10, 2023 at 12:06 am | Economic Affairs
As one of the top troop-contributing countries, Pakistan deeply values the vital role played by “blue helmets” in maintaining security and stability in many conflict-ridden areas around the world. Prof. Dr. Zafar Nawaz Jaspal The states require a systemic balance between both soft power and hard power capabilities to pursue their national interests in contemporary geopolitics. The soft power resources at the disposal of government machinery are a critical part of the foreign policy tools needed to maximize the state's interests in the anarchical international society. The states skillful in using soft power to facilitate positive collaboration are in an advantageous position in the current globalized interdependent world. This le...
February 9, 2023 at 11:53 pm | Economic Affairs
An inter-connected Asia has the potential to grow faster than other regions through a sustainable supply chain and an interlinked maritime sector that can increase its capacity to connect with global networks with greater efficiency to spur growth and prosperity in the region. Dr Hassan Daud Butt As the world moves more towards regional constructs, the Indian Ocean region is fast becoming the centre of gravity in global trade. The challenges facing us, are more wide-reaching than ever from political to economic to healthcare, with growth forecasts fluctuating fast. Even with the deteriorating outlook, inter-connected Asia has the potential to grow faster than other regions through a sustainable supply chain and an interlinked maritim...
February 9, 2023 at 11:36 pm | Economic Affairs
Chief of the Naval Staff Admiral Muhammad Amjad Khan Niazi NI(M) S Bt says that the force is agile in ensuring the resolute defence of the country besides ensuring maritime security and peace in the Indian Ocean. Interview by: S.A. Chaudhry Chief of the Naval Staff Admiral Muhammad Amjad Khan Niazi NI(M) S Bt The Economic Affairs was privileged for a one-on-one interview with the Pakistan Navy's Chief who shed light on its strengths, agility, and resoluteness to defend the sea frontiers and protect the maritime interests of the country. With Pakistan's geostrategic location in the Indian Ocean, at the doorstep of the Arabian Gulf, the Pakistan Navy has been playing an important role in promoting regional maritime security and g...
February 9, 2023 at 11:15 pm | Economic Affairs
Ms. Pang Chunxue, Charge d' Affairs, Chinese Embassy in Pakistan I would like to express my warm congratulations to Pakistan for holding the Exercise Aman-23 and Pakistan International Maritime Expo & Conference (PIMEC). The theme of Aman-23 is Together for Peace, which demonstrates the determination of all participating parties and partners to unity and maintain peace. It is believed that through a series of activities, all parties including the Chinese and Pakistani navies, will further enhance the level of cooperation, improve the ability to jointly respond to risks and challenges, tap the development potential of blue economy, and contribute new strengths to maintaining regional peace and stability. The Chinese side sincerely...
February 9, 2023 at 10:59 pm | Economic Affairs
H.E. Dr. Mehmet Paçac? The achievements of brotherly Pakistan have always been a source of proud for Türkiye. We believe that maritime sector in Pakistan has an immense potential to become one of the achievements with the efforts to promote cooperation in this field. With this in mind, Turkish companies will take part in Pakistan International Maritime Expo and Conference (PIMEC-2023) to be held in Karachi on 10-12 February 2023, to further contribute to the existing cooperation in maritime sector with brotherly Pakistan. It is also a great honor to announce that Turkish Naval Forces will participate in Pakistan Navy's Multinational Exercise AMAN-2023 on 10-14 February 2023 in K...
February 9, 2023 at 10:52 pm | Economic Affairs
H.E. Mr. Nicolae GOIA In our opinion, over the years AMAN and PIMEC have become traditional engagements also between the naval forces around the globe but not limited to the military sector, thus involving multiple categories of stakeholders that have their efforts, businesses and dependencies connected to the necessity for secure, healthy and well preserved territorial sea and international waters. The cooperation on this complex topic is aiming towards supporting the common ideals, from maintaining the sea lines communication undisturbed and ensuring the security and stability of the routes, to the aim for fighting piracy and terrorism. It was proven in the past that disrupting those efforts can generate a big effect, not only at regi...
February 9, 2023 at 10:49 pm | Economic Affairs
Admiral Muhammad Amjad Khan Niazi NI(M) S Bt Pakistan has enormous maritime potential and its economic prosperity is inextricably linked to the development of its maritime sector. However, this realization in our national reckoning has only started dawning in recent years. Pakistan Navy, being a major stakeholder in shaping maritime thought in the country, is alive to this need and is proactively playing its role in creating the requisite maritime awareness for exploitation of the untapped potential of our Blue Economy. It is in this context, that Pakistan Navy is hosting its first ever 'Pakistan International Maritime Expo & Conference (PIMEC)' under the patronage of Ministry of Maritime Affairs, from 10-12 February 2023 at Expo...
February 9, 2023 at 10:46 pm | Economic Affairs
Syed Faisal Ali Subzwari The Blue Economy is regarded as the sustainable use of ocean or 'Blue Resources' for socio-economic development, improved livelihoods and creating jobs while preserving the health of marine ecosystem. Pakistan is strategically located in the Indian Ocean at the crossroads of major commercial trade routes. Given the geographical and territorial advantage, its potential in Blue Economy is immense which can be accrued with a focused maritime approach, strategic planning and determined implementation. The Indian Ocean has huge reservoirs of living and non-living resources which include petroleum, natural gas and diverse marine life. In terms of fishery resources; fish and shrimps are the basic livelih...
February 9, 2023 at 10:43 pm | Economic Affairs
H.E. Muhammad Shehbaz Sharif I am pleased to learn that the Pakistan Navy is conducting the premiere edition of Pakistan International Maritime Expo & Conference (PIMEC) 2023. This Exhibition will showcase the rich potential of Pakistan's maritime sector with an aim to draw attention towards maritime industry's contribution towards the Blue Ocean economy as well as in raising maritime awareness among the people. Over the years PIMEC has emerged as a platform for interaction of ideas amongst the professionals and experts belonging to the maritime industry. It is a manifestation of Pakistan's maritime capabilities in diverse fields with a focus on marine related commercial enterprises. This would provide an exceptionally interactiv...
February 9, 2023 at 10:42 pm | Economic Affairs
The World Bank’s Global Economic Prospects report has projected Pakistan’s economic growth to slow down to 2% during the current year – two percentage points lower than the June 2022 estimateBy Ghulam HaiderThe World Bank’s Global Economic Prospects report has forecast Pakistan’s economic growth to slow further to two percent during the current year, indicating a drop of two percentage points from its June 2022 estimates.Pakistan is in the news for economic meltdown amidst natural disasters, food shortages and poverty. The country had unprecedented floods in July – August last year, devastating large swathes of farmlands and destroying critical infrastructure. The forex reserves in the country which hit a new low of USD 4.6 bil...
January 20, 2023 at 5:00 pm | Economic Affairs
Pakistan Rupee Exchange Rate