+923218400111
ROOM NO 214, 2ND FLOOR, LSE PLAZA, 19-KHYABAN-E-AIWAN-E-IQBAL, LAHORE
accounts@bspl.com.pk

Are you ready to change the game? Find Out More

Govt targets $600m in seafood exports | The Express Tribune
Home » BUISNESS  »  Govt targets $600m in seafood exports | The Express Tribune

ISLAMABAD:

Pakistani seafood exporters met with Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry in Beijing and updated him on discussions with their Chinese counterparts as Islamabad intensifies efforts to expand fisheries exports.

The federal minister emphasised that signing memoranda of understanding (MoUs) and fostering business-to-business agreements would play a crucial role in enhancing fisheries exports, strengthening aquaculture collaboration and elevating Pakistan as a key seafood hub in the region. "Pakistan aims to reach $600 million in seafood exports in the upcoming financial year," he stated.

Among the exporters, Tariq Memon, International Sales Manager at Arabian Sea Products, shared that his company was developing an advanced aquaculture and holding system to cultivate and preserve live mud crabs and lobsters for export.

He said the initiative, in partnership with Chinese firms, seeks to extend the survival time of live seafood to two or three weeks, enabling access to distant markets such as China. Memon highlighted that success would depend heavily on technology transfer, investment and aquaculture expertise from Chinese partners.

The federal minister noted that Pakistan's seafood export sector, including live mud crabs and lobsters, was experiencing positive growth, contributing over $465 million to total exports in financial year 2024-25. "Pakistan is ranked the third-largest global exporter of mud crabs, shipping over 3,000 tons of live mud crabs to China, its biggest importer," he added.

Saeed Ahmed Fareed, CEO of Legend International (Pvt) Ltd, proposed a joint venture with a Chinese company focused on value-added frozen seafood and poultry products, such as chicken feet. Located in Karachi, the company operates a 65,000-square-foot facility with a processing capacity of 40 tonnes per day and holds approval from China's General Administration of Customs.

Fareed explained that the collaboration would help both parties reduce costs, achieve economies of scale and broaden export reach to the US, Europe and regional markets. Ali Reimoo, partner at Karim Impex, shared his company's plans to expand into China and neighbouring regions.

Meanwhile, Asif Muhammad Ali Shah, Director of Perfect Food Industries, highlighted the untapped potential for freeze-dried food, a preservation technology initially developed by NASA for astronauts but is now widely used across Asia.

Shah pointed out that although countries like Thailand, Vietnam and China supply freeze-dried fruits and vegetables, Pakistan lacks such facilities despite strong international demand for products including mango, okra, bitter melon, falsa and guava.

He attributed the absence of freeze-drying plants in Pakistan to high equipment costs and lengthy processing times but said international buyers were ready to commit to annual contracts if local production capacity was established, particularly to serve diaspora communities and niche food markets abroad.

The federal minister observed that Pakistan's frozen food market was growing, supported by significant investments in cold chain infrastructure and advanced freezing technologies, which could lay the groundwork for future development of seafood-specific freeze-drying plants.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Public Notice

Beware of Fraudulent Schemes Misusing the Name of Bridge Securities Pvt. Ltd

Fraudulent individuals and entities may misuse the identity of Bridge Securities Pvt. Ltd or falsely impersonate its directors or executives to deceive the public through unauthorized communication channels, fake profiles, and misleading information.

We strongly advise our clients and the general public to exercise caution and remain vigilant against such scams.

Please note:

  • Bridge Securities Pvt. Ltd has no affiliation with any unofficial pages, profiles, apps, or WhatsApp numbers.
  • We never request OTPs, personal information, funds, or investments through unofficial platforms.
  • All communication from Bridge Securities Pvt. Ltd is conducted only through our official phone numbers, website, email, social media handles through official representatives.

For your safety:

  • Always verify the authenticity of any communication before engaging.
  • Make sure that you are dealing with licensed entities and registered professionals by conducting research from the PSX and SECP websites.
  • Regularly visit SECP, PSX, CDC, and NCCPL websites for authentic updates.
  • Transact only through official banking channels linked to licensed brokers.
  • In case of any ambiguity it is recommended to contact and verify the information through our official representatives.

Official Channels:

  • Website: www.bspl.com.pk
  • Email: accounts@bspl.com.pk
  • Social Media: Not Available
  • Helpline: 0321-8400111

Shareholder Agahi – Your Gateway to Shareholder Insights

Pakistan’s first comprehensive platform, developed by PICG and CDC, dedicated to enhancing shareholder awareness and empowerment.

Discover Shareholder Agahi- Your one-stop hub for real-time shareholder updates, rights, and governance insights. Empower yourself with accurate information.Explore the portal: https://www.shareholderagahi.com/ Watch the tutorial (Urdu): https://www.youtube.com/watch?v=O7iCRiKJ37A

This will close in 20 seconds