Chief of Naval Staff Admiral Zafar Mahmood Abbasi has said that maritime sector can double or even triple the GDP of Pakistan. The Chief of Naval Staff said this on the launching ceremony of a new 600-ton maritime patrol vessel for the Pakistan Maritime Security Agency (PMSA) on Tuesday at Karachi Shipyard and Engineering Works (KS&EW), says a statement released here by Pakistan Navy (PN).
Admiral Abbasi congratulated the shipyard on achieving the important milestone and said that it is yet another project that speaks volumes of the friendship between China and Pakistan. He further said that the responsibility of PN and PMSA has increased manifold since the start of CPEC and the extension of EEZ.
"While highlighting the significance of the CPEC, the admiral said that CPEC will transform Pakistan into a regional economic hub. If we capitalize on just 10 percent of China's external trade, it will be about five times the current volume of trade that we are carrying through our port." The naval chief also said that the maritime sector can double or even triple the GDP of the country.
MD KS&EW Rear Admiral Syed Hasan Nasir Shah said the vessel is part of a contract of the Ministry of Defence Production. The ministry will construct six maritime patrol vessels. The statement added that ongoing projects at KS&EW include 1,500 tons MPV, 32 tons Bollard Pull Tugs and Fast Attack Craft (Missile).
The launching ceremony was attended by high ranking officials from government of Pakistan, Pakistan Navy, China Shipbuilding & Trading Company and KS&EW. The vessel built with the technical collaboration of China Shipbuilding and Trading Company (CSTC), is a state-of-the-art vessel capable of performing multiple missions. The ship is fully equipped to enforce maritime security and search and rescue missions in Pakistan's maritime exclusive economic zone.