ISLAMABAD:Chief of the Naval Staff Admiral M. Amjad Khan Niazi said that the blue economy in Pakistan offered great business potential, which still remains untapped and stressed that the business community should tap it to generate more business and economic activities.
He said this while talking to a delegation of the Islamabad Chamber of Commerce and Industry (ICCI)that called on him led by its President Ahsan Zafar Bakhtawari,
Admiral M. Amjad Khan Niazi said that by 2023 strong growth was expected in the maritime industry which would create several jobs and open new avenues of entrepreneurship and commercial innovation and desired that the private sector should explore this industry for business opportunities.
He said that Pakistan Navy was organizing Pakistan International Maritime Expo & Conference (PIMEC) from February 10-12, 2023 under the patronage othe f Ministry of Maritime Affairs to jump-start the development of the maritime sector and invited ICCI to participate in it.
Real Admiral Muhammad Faisal Abbasi, Deputy Chief of Naval Staff (Ops) said that the business community was the backbone of the economy and it should play a role to promote indigenous production of defence equipment and products to further strengthen the defence sector.
He said that a maritime science & technology park had been approved and its construction would create more opportunities for the business community as well.
Speaking at the occasion, Ahsan Zafar Bakhtawari thanked the naval chief for giving time to ICCI delegation for a meeting.
He said the Pakistan Navy was importing in many parts and equipment to meet its needs of manufacturing frigates and other defence-related systems and ICCI wanted to join hands with it to explore indigenous production of frigates and other systems that would also benefit the local industry.
He said that the indigenous production of defence equipment would reduce the import bill and save precious foreign exchange reserves of the country.