PESHAWAR: Pakistan’s aquaculture sector has the potential to become a regional leader, but it currently lags behind neighboring countries like India, China, and Iran. This observation comes from an expert in aquaculture, Dr. Omar Hayat Khan, the former Director of Fisheries in Khyber Pakhtunkhwa.
Dr. Khan highlighted the vast disparity in aquaculture production between Pakistan and its neighbors, where millions of tons of aquaculture products are generated annually, offering opportunities for both export and private sector investment. In contrast, Pakistan’s aquaculture industry faces significant challenges on the path to development.
The solution lies in investment, both domestic and foreign, with a strong focus on sustainability. Dr. Khan emphasized the need for investors to view aquaculture through a sustainable lens and to approach opportunities with a risk management perspective. This approach can deliver not only healthy financial returns but also significant environmental, social, and governance benefits.
Aquaculture, already a $243.5 billion global industry, is the fastest-growing food production sector in the world. It has the potential to meet the increasing global demand for high-quality protein. However, investing in aquaculture is no simple task, given the unique activities and risks associated with the sub-sector. Past examples of failed operations due to inadequate knowledge have deterred investors, leading to the lack of finances needed for the expansion and sustainable development of aquaculture in Pakistan.
With the world grappling with challenges like a growing population, unsustainable farming practices, overexploited fisheries, and climate change, new food production systems are a necessity. Aquaculture, along with closely related practices like aquaponics (fish and vegetable farming), offers a sustainable solution for addressing these challenges in Pakistan.
Recognizing this potential, the Government of Pakistan, in collaboration with provincial governments, has initiated a comprehensive program for Agriculture and Aquaculture Entrepreneurship. This program aims to harness the expertise of scientists, researchers, and international leaders in the field to increase the efficiency of food production to meet the needs of a growing population and for export.
Global trends indicate a rise in fish consumption, with worldwide fish production expected to experience sustainable double-digit growth. To realize this potential, substantial investments are required from both local and foreign investors in various aspects of aquaculture, from production to marketing. This investment will fuel the growth of the aquaculture sub-sector in Pakistan.
The future holds significant promise for aquaculture, with new startups, accelerators, and venture capitalists focusing on international aquaculture. For established enterprises and those seeking new opportunities in agriculture technology, this is an ideal time to explore the value of aquaculture for a growing world population, understand how aquaculture works, and assess the risks and rewards of investment.
Pakistan’s aquaculture industry offers substantial investment opportunities, contributing to the country’s blue economy. This expansion will support the growth of the aquaculture industry, fish feed mills, aqua-farms, processing units, cold chain transport, marketing outlets for value-added fish products, and create new business opportunities, income, and employment while supplying essential protein to the growing population.