Pakistan looks to improve $465 million seafood exports with new processing zone at Korangi
Recently, the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, announced that Pakistan would be opening a 100-acre seafood processing zone at the Korangi Fisheries in Karachi.
This effort would cost anywhere between USD 60 and 80 million dollars, not an inconsiderable sum, and is projected to be developed under a public-private partnership model. The government would provide institutional backing and retain regulatory oversight, while the private partners would take care of the financing, developing, and operating bit.
The main purpose of this facility would be to assist in transforming Pakistan's seafood exports, which are currently low value products down the value chain, into high-value processed products. These would then be exported to the Gulf, East Asian, and East African markets.
Source: Profit.pakistantoday
