The Fisheries department on Monday signed a memorandum of understanding (MoU) with Ocean Venture, a private enterprise. In the presence of Chief Secretary Balochistan Abdul Aziz Aqeeli, Secretary Fisheries Kazim Jatoi and CEO Ocean Venture signed the MoU. A handout issued by the Directorate of Public Relations said that Ocean Venture Private Limited would invest “US$ 50 million in Balochistan’s fisheries sector”.
The company will set up a fish processing facility at Damb/Gadani and purchase 05 long liners and 05 mesopelagic vessels. Besides, OV Pvt. Ltd. will establish a facility for the direct transportation of crustaceans. A total of 600–700 jobs will be created, out of which 60% will be given to the local people of Balochistan.
It may be recalled that this is the first private-sector investment in the Balochistan Fisheries sector. The introduction of modern methods will help moderate fish harvesting techniques in the province.