PAKISTAN’S BLUE ECONOMY – AN UNEXPLORED WEALTH OF NATURE

Abstract

The blue economy of a nation is considered as an imminent part of its lifeline which focuses on sectors of underwater energy resources, maritime transportation, marine and coastal resources. Defined as the sustaining employment of oceanic economic resources for advancement, prosperous livelihoods, and high employment opportunities while, concurrently conserving the well-being and healthiness of the ocean ecosystem, the Blue Economy offers one of the most lucrative contingencies to 142 maritime nations of the world among which Pakistan is 74^th in the consolidated ranking. Our nation, with a total coastal area of 1050 kilometer is rewarded by the nature with significant blue natural resources. But, it contributes hardly one billion US Dollars (0.4% of the national GDP) which is considerably meagre. Bulk of this contribution is in the form of fisheries and bare coastal tourism, generating very low maritime revenue. In fact, the constricted mindset augmented by the status quo riddled with bureaucratic and pessimistic socio-political culture is the foremost root cause of this unpardonable neglect. In the wake of aforementioned scenario, this research article presents the “Conceptual Framework” for the progressional growth of Pakistan’s Blue Economy that possesses the capacity to reinstate the ailing national economy while ensuring prosperous living for a common citizen who is dependent on it.