PESHAWAR: An expert on aquaculture and former director Fisheries, Khyber Pakhtunkhwa, Omar Hayat Khan has said that Pakistani aquaculture sector is far behind her neighboring countries like India, China and Iran.
Talking to this scribe, he said that our neighboring countries are producing aquaculture products in millions of tons per annum and have utilized the opportunities of exports and investment by private sector.
Pakistan aquaculture, he said also holds great potential to meet growing local and global demand for more sustainable forms of protein while protecting the local environment. However, aquaculture faces challenges related to its potential for development.
This requires local investment as well as foreign direct investment. The investors have to view the aquaculture industry through a sustainable lens. With this perspective, investors should review opportunities with a risk management approach.
In this way aquaculture investments can deliver not only healthy financial returns but also importantly environmental social and governance benefits.
Aquaculture is the fastest growing food production form on earth. Already a $243.5 billion industry, aquaculture holds great potential to meet growing global demand for high quality protein. Investment in aquaculture is difficult, especially without knowledge of the sub sector’s unique and diverse activities and risks. Many examples of failed operations have deterred investors from the aquaculture sub sector due to inadequate knowledge and understanding of the requirement of the aquaculture activities.
Now the private sector involved in aquaculture sub sector of Agriculture lack finances to expand the production operation and finance represent one of the largest barriers to growth and sustainable development of this important yet vulnerable food production industry in Pakistan
With the world facing the challenges of growing population, unsustainable traditional farming practices, overexploited fisheries, climate change, new food production systems need to be adopted. Aquaculture and closely allied aquaponics (Fish and Vegetable farming) hold great potential to provide sustainable food resources to address this need in Pakistan.
The Government of Pakistan in collaboration with the Provincial Governments inmate a comprehensive program for Agriculture and Aquaculture Entrepreneurship to bring innovation to the Agriculture and Aquaculture Sub Sector through getting support of Scientists, Researchers and International leader in the sub sector for high efficiency production of consumable food products for the growing population and for export.
In terms of fish consumption, all trends show upward. Worldwide fish production will see sustainable double-digit growth. There is enormous need to innovation and high rate capital investment is required from local and foreign direct investors in various activities from production to marketing to fuel the growth of Aquaculture sub sector in Pakistan.
There is tremendous hope on the horizon in the form of new startups, accelerators and venture capitalists focused on international aquaculture.
For existing enterprise players and those looking for new types of agriculture technological opportunities, there is no better time to learn the value of aquaculture to the evolving world population, how aquaculture works and associated reward for assessed risk investment, and the encouraging economics for innovators, investors and animal health industry leaders.
Pakistan Aquaculture industry has been identified as a major area where blue economy investment opportunities lie will provide a huge boost to the Aquaculture Industry, Fish Feed Mills, Aqua-farms, Processing Units, Cold Chain Transport, Marketing outlets of value added fish products as it expands within the country, supporting local economies through creating of new business opportunities for income generation and employment and supplying protein to the growing population.
Copyright Business Recorder, 2023
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