With a coastline of about 814 kilometer and inland water bodies’ cumulative area of 8 million hectares, Pakistan’s Fishery and Fishing Industry plays a significant part in the national economy. Pakistani seafood has a significant export potential, estimated at 1 million tonnes/ year from the marine subsector alone. The commercially important resources include near 250 demersal fish species, 50 small pelagic fish species, 15 medium-sized pelagic species and 20 large pelagic fish species. In addition, there are also 15 commercial species of shrimp, 12 of cephalopods and 5 of lobster. Pakistan has two fishing seasons: the August to November season for catching shrimp, and October to June season for catching Fish. Marine fisheries account for about 60 percent of the total production, including both fish and shrimps. Shrimps account for only 15percent of the production, but they are of much significance mainly due to their value and demand in foreign markets.
Exporters expect Pakistan to boost seafood exports to $1bn in three to five years by constantly augmenting production through effective implementation of ban on hauling of juvenile fish from designated breeding areas, promotion of modern inland fishing methods and incentivization of fish farming across the country. This offers a very good opportunity to Filipino business community to explore joint ventures in this sector in Pakistan.
The first Investment Policy by Board of Investment (BOI) was given in 1997 which opened services, social, infrastructure and agriculture sectors for foreign and local investors. It was a major step forward for integration of Pakistan’s economy into international markets as prior to this policy; foreign investment was restricted to manufacturing sector only. The 1997 Policy laid a solid foundation for the gains in FDI inflows experienced over the subsequent decade.
Foreign Direct Investment in Pakistan increased by 2761.10 USD Million in 2016. Foreign Direct Investment in Pakistan averaged 2651.26 USD Million from 2010 until 2016, reaching an all time high of 3184.30 USD Million in 2010 and a record low of 2099.10 USD Million in 2012.
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