In this article, we examined Pakistan’s evolving regulatory framework governing foreign participation in the deep-sea fishing sector, with a particular focus on the legal pathways available to international investors seeking to deploy capital and technology in this underdeveloped yet high-potential industry. We analysed the joint venture requirements, licensing regime, and compliance obligations that shape market entry, and assessed how recent policy initiatives, including the role of the Special Investment Facilitation Council, aim to facilitate structured and sustainable foreign investment in Pakistan’s deep-sea fisheries.
Pakistan’s vast coastline holds a wealth of deep-sea fishing resources, offering an attractive yet untapped opportunity for investors seeking to meet the growing global demand for high-value seafood. Historically, these resources have remained underutilized, but a recent government push has established a structured path for foreign companies to bring modern technology and capital to this promising sector. For foreign investors, the key to unlocking this potential lies in a local Joint Venture Partnership.
The regulatory framework for this investment is governed by the Deep-Sea Fishing Licensing Policy. A critical requirement under Clause 2.3 of the Policy is that foreign investors cannot obtain a fishing license directly. Instead, the first step is to form a Joint Venture with a local company. This Joint Venture must then be established and registered as a Pakistani company under the Companies Act, 2017, which will begin the process of obtaining the necessary licenses and approvals for fishing operations. This partnership is designed to combine foreign expertise and investment with valuable local knowledge of Pakistan’s maritime environment. Once the Joint Venture is legally formed and registered for tax purposes, the venture can apply to the authorities to inspect the ships and ensure they meet Pakistan’s maritime and security standards.
With the legal structure established, the next step is to ensure operational compliance. Once licensed, all fishing operations must adhere to strict rules designed to ensure sustainability and protect local communities. Currently, Pakistan’s sea is divided into three zones, and Joint Ventures are only allowed to fish in Zone III, as defined by the Deep-Sea Fishing Licensing Policy 2018. This zoning system is crucial as it protects the livelihoods of smaller, local fishing communities that operate closer to shore, ensuring that large-scale commercial fishing does not disrupt their traditional grounds. Furthermore, the framework requires a high percentage of local Pakistani crew members on each vessel, and each ship must be fitted with a satellite-based Vessel Monitoring System so authorities can track its location, as detailed under the Exclusive Fishery Zone Rules, 1990. Investors should also be prepared for financial commitments, including an annual license fee and a per-trip royalty.
While the regulatory landscape remains complex, the Pakistani government has established the Special Investment Facilitation Council (SIFC), which is designed to help investors by providing one-window support. Working with the SIFC can streamline approvals and ensure deep-sea fishing ventures start smoothly and successfully. While the regulations require careful adherence, the reward is gaining licensed access to one of the most promising and underdeveloped fisheries in the region.
