ISLAMABAD – Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Saturday unveiled a transformative step towards economic diversification and sustainable growth with the establishment of dedicated units for Creative Industries and the Blue Economy within the Ministry of Planning and Development.
These new units are part of the broader 5Es National Economic Transformation Plan, a comprehensive strategy aimed at driving Pakistan towards a resilient and prosperous future, said a news release. According to a press release, the Creative Industries unit will focus on harnessing the potential of Pakistan’s rich cultural heritage, vibrant arts, and innovative design sectors.
This initiative aims to foster economic growth through the promotion of creative talents and the development of creative hubs that will support entrepreneurship, job creation, and cultural exchange.
The minister said that “The creative economy is a vital component of our national development strategy.” adding that “By investing in our creative industries, we are not only preserving our cultural heritage but also creating new economic opportunities that can contribute significantly to our GDP and employment rates.”
Globally, the Creative Industries are one of the fastest-growing sectors of the world economy. According to UNESCO, the creative economy generates $2.25 trillion annually and provides nearly 30 million jobs worldwide.
With over 60 percent of Pakistan’s population under the age of 30, the country boasts a vast reservoir of youthful energy and creativity. This young demographic presents a unique opportunity to drive innovation and entrepreneurship in the creative sectors, a press release added.
By providing the necessary infrastructure, training and support, the Creative Industries unit aims to unlock the potential of Pakistan’s youth, enabling them to contribute to the national economy and compete on a global stage.
Meanwhile, the Blue Economy unit will concentrate on the sustainable utilization of Pakistan’s vast maritime resources. This unit will work on developing policies and projects that enhance the sustainable use of ocean resources for economic growth, improved livelihoods, and the preservation of marine ecosystems.
Key areas of focus will include fisheries, maritime tourism, marine biotechnology, and renewable ocean energy.