In a bold step toward reviving Pakistan’s struggling industrial backbone, the federal government has unveiled a $13 billion savings plan centered around a “Sea to Steel Green Maritime Industrial Corridor” at Port Qasim. The initiative aims to breathe new life into the long-dormant Pakistan Steel Mills (PSM) while cutting the country’s heavy reliance on imported steel.
Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, shared details of the proposal during a high-level meeting with Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan. He described the plan as a transformative project that integrates ship recycling, steel production, and sustainable industrial practices into a single, eco-friendly maritime ecosystem.
According to officials, Pakistan currently spends around $6 billion annually on steel imports a figure projected to rise steadily over the next decade. The new “Sea to Steel” initiative could potentially save up to $13 billion by reducing those imports by about 20% through domestic recycling and production.
At the heart of the plan lies the revival of the Iron Ore and Coal Berth (IOCB) at Port Qasim, which has remained inactive since 2015. The government envisions transforming it into a modern ship recycling and repair complex featuring a floating dock capable of handling large Aframax-class vessels. Steel recovered from dismantled ships will either be supplied directly to PSM or refined into high-grade industrial steel at local facilities, reducing foreign dependence and conserving precious foreign exchange.
The project also promises significant benefits for the Pakistan National Shipping Corporation (PNSC) by enabling cost-effective local ship repairs and maintenance, which are currently outsourced to foreign ports.
Haroon Akhtar Khan lauded the proposal, emphasizing that collaboration between ministries would be vital in translating this vision into reality. He noted that such projects could stimulate industrial revival, create employment opportunities, and drive sustainable growth.
Meanwhile, Commodore (R) Muhammad Jawad Akhtar, Technical Advisor for Maritime Affairs, termed the plan a “milestone” toward achieving Pakistan’s Blue Economy ambitions. He said the corridor would not only attract local and foreign investment but also position Pakistan as a regional maritime hub, generating thousands of skilled and semi-skilled jobs in the process.
Minister Chaudhry underlined that the corridor aligns with Pakistan’s broader industrial and environmental goals, offering a self-sustaining maritime-industrial ecosystem designed to foster growth while preserving ecological balance.
Officials confirmed that a comprehensive financial and technical framework is currently being developed in consultation with national stakeholders and international partners. A detailed presentation of the project is expected to be made to the federal cabinet and potential investors in the coming weeks.
This initiative, if executed effectively, could mark a turning point in Pakistan’s industrial landscape reviving PSM, reducing import dependency, and setting a foundation for a greener, more resilient maritime economy.
