ISLAMABAD: Prime Minister Shehbaz Sharif on Friday urged Pakistan’s Navy to tap into its vast underwater natural resources for economic gains with China’s help, stressing the importance of blue economy for the South Asian country grappling with an economic crisis.
Offshore oil, natural gas reserves and minerals are extremely valuable underwater resources found beneath oceans worldwide.
Energy-starved and cash-strapped Pakistan desperately needs natural resources to enhance its energy production and bolster its mining and industrial sectors as it struggles to keep its $350 billion economy afloat.
Speaking at the 7th Maritime Security Workshop at the Pakistan Navy War College in Lahore, Sharif said Pakistan Navy was already discovering natural resources with the help of Chinese companies “which have great experience in this field.”
“Just a couple of days ago, I received a message from our great friend China that they are ready to send another delegation to enhance and explore what is lying under deep water, very valuable resources,” Sharif said.
He urged Pakistan’s naval chief to focus on extracting natural resources, adding that he was ready to provide his help in that regard.
Islamabad has taken steps in recent months to ensure its blue economy thrives. In September, Pakistan hosted an international maritime exhibition in Islamabad where maritime experts urged the Pakistani government to expand its blue economy to $100 billion.
During the exhibition, panelists suggested the Pakistani government work on increasing its share in the global blue economy, which means sustainable use of ocean resources to benefit people, livelihoods and ocean ecosystem health.
