QUETTA: Marking a significant milestone toward promoting investment and strengthening the coastal economy in Balochistan, an agreement for the province’s first commercial shrimp farming project has been officially signed.
The agreement was concluded in the presence of Balochistan Chief Minister Mir Sarfraz Bugti and Chief Secretary Balochistan Shakil Qadir Khan, with the private sector investing a substantial 1.11 billion PKR in the Damb area.
Major Boost to Balochistan’s Economy: Key Points of the Agreement
The agreement was signed by Fisheries Secretary Tariq Qamar and Saad Zahid, Chief Executive of the House of Kabab Consortium.
100 percent of the jobs generated by the project will be provided to local residents, creating excellent employment opportunities for the people of Patalan and surrounding areas.
Over a 20-year period, the Government of Balochistan is projected to earn a net profit of 866.0 million PKR.
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This initiative will play a pivotal role in the optimal utilization of coastal resources, boosting national exports, and fostering the “blue economy” within the province.
A New Era of Economic Growth and Prosperity
Officials from the Balochistan Board of Investment and Trade (BBoIT) noted that projects of this nature are paving the way for both local and foreign investment in the region. This endeavor will not only modernize the fisheries sector but also herald a new era of sustainable development and prosperity for Balochistan’s coastal communities.
